Leases (Tables)

12 Months Ended

Feb. 01, 2025

Leases [Abstract]

Schedule of Net Operating Lease Costs

The following table presents net operating lease cost included in the Consolidated Statement of Earnings for fiscal 2024, 2023, and 2022:

($000)	2024		2023		2022
Operating lease cost1	$	800,834	$	760,268	$	721,340
Variable lease costs2	246,315		219,526		206,262
Net lease cost3	$	1,047,149	$	979,794	$	927,602
1 Net of sublease income which was immaterial.
2 Includes property and rent taxes, insurance, common area maintenance, percentage rent, and negotiated rent abatements.
3 Excludes short-term lease costs which were immaterial.

The weighted-average remaining lease term and the weighted-average discount rate for operating leases as of February 1, 2025 and February 3, 2024 are as follows:

	2024		2023
Weighted-average remaining lease term (years):
Including the long-term ground lease related to the New York buying office	9.6		9.8
Excluding the long-term ground lease related to the New York buying office	5.5		5.4
Weighted-average discount rate:
Including the long-term ground lease related to the New York buying office	4.2	%	3.9	%
Excluding the long-term ground lease related to the New York buying office	4.1	%	3.6	%

The following table presents cash paid for amounts included in the measurement of operating lease liabilities and operating lease assets obtained in exchange for operating lease liabilities (includes new leases and remeasurements or modifications of existing leases) for fiscal 2024, 2023, and 2022:

($000)	2024		2023		2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	789,211	$	746,254	$	701,478
Operating lease assets obtained in exchange for operating lease liabilities	$	841,891	$	682,580	$	705,220

Schedule of Maturities of Operating Lease Liabilities

The maturity of operating lease liabilities, including the ground lease related to the New York buying office as of February 1, 2025, are as follows:

($000)	Operating Leases1
2025	$	766,071
2026	774,352
2027	663,938
2028	536,465
2029	362,872
Thereafter	1,624,793
Total lease payments	$	4,728,491
Less: interest	1,260,873
Present value of lease liabilities	$	3,467,618
Less: current operating lease liabilities	703,337
Non-current operating lease liabilities	$	2,764,281
1 Operating leases exclude $187.2 million of minimum lease payments for leases signed that have not yet commenced.