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LEASES (Tables)

12 Months Ended

Feb. 02, 2025

The components of the net lease cost were as follows:



(In millions)	Line Item in the Company’s Consolidated Statements of Operations	2024		2023		2022
Finance lease cost:
Amortization of right-of-use-assets	SG&A expenses (depreciation and amortization)	$	3.5	$	4.2	$	4.2
Interest on lease liabilities	Interest expense	0.2		0.2		0.2
Total finance lease cost		3.7		4.4		4.4
Operating lease cost	SG&A expenses	388.3		402.3		401.4
Short-term lease cost	SG&A expenses	66.1		41.7		35.9
Variable lease cost	SG&A expenses	138.2		132.3		116.2
Less: sublease income	SG&A expenses	(6.0)		(5.3)		(4.7)
Total net lease cost		$	590.3	$	575.4	$	553.2

Schedule of Supplemental Balance Sheet Information [Table Text Block]

Supplemental balance sheet information related to leases was as follows:


(In millions)	Line Item in the Company’s Consolidated Balance Sheets	2024		2023
Right-of-use assets:
Operating lease	Operating lease right-of-use assets	$	1,157.5	$	1,213.8
Finance lease	Property, plant and equipment, net	5.4		8.8
		$	1,162.9	$	1,222.6
Current lease liabilities:
Operating lease	Current portion of operating lease liabilities	$	289.1	$	288.9
Finance lease	Accrued expenses	3.2		4.1
		$	292.3	$	293.0
Other lease liabilities:
Operating lease	Long-term portion of operating lease liabilities	$	1,011.3	$	1,075.8
Finance lease	Other liabilities	2.7		5.6
		$	1,014.0	$	1,081.4

Schedule of Supplemental Cash Flow Information [Table Text Block]

Supplemental cash flow information related to leases was as follows:



(In millions)	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	392.0	$	446.2	$	450.8
Operating cash flows from finance leases	0.2		0.2		0.2
Financing cash flows from finance leases	3.9		4.6		4.7
Noncash transactions:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	300.2	$	278.4	$	338.6
Right-of-use assets obtained in exchange for new finance lease liabilities	0.8		4.0		8.2

Lessee, Operating and Finance Lease, Liability, Maturity [Table Text Block]

At February 2, 2025, the maturities of the Company’s lease liabilities were as follows:


(In millions)	Finance Leases		Operating Leases		Total
2025	$	3.2	$	341.6	$	344.8
2026	2.1		287.6		289.7
2027	0.5		239.3		239.8
2028	0.2		187.0		187.2
2029	—		131.0		131.0
Thereafter	—		312.9		312.9
Total lease payments	$	6.0	$	1,499.4	$	1,505.4
Less: Interest	(0.1)		(199.0)		(199.1)
Total lease liabilities	$	5.9	$	1,300.4	$	1,306.3

The Company’s lease liabilities exclude $108.0 million of future lease payment obligations related to leases for various retail store and distribution center leases that were entered into but did not commence as of February 2, 2025. These leases commenced or will commence in 2025.

Schedule of Weight Average Remaining Lease Term and Weighted Average Discount Rate [Table Text Block]

The following summarizes the weighted average remaining lease terms and weighted average discount rates related to the Company’s right-of-use assets and lease liabilities recorded on the balance sheet:



	2024		2023
Weighted average remaining lease term (years):
Operating leases	5.92		6.10
Finance leases	2.02		2.55
Weighted average discount rate:
Operating leases	4.68	%	4.64	%
Finance leases	2.11	%	2.17	%