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Leases
12 Months Ended
Feb. 02, 2019
Leases [Abstract]  
Leases

15. Leases

The Company is obligated under operating leases for almost all of its store properties. Some of the store leases contain renewal options with varying terms and conditions. Management expects that in the normal course of business, expiring leases will generally be renewed or, upon making a decision to relocate, replaced by leases on other premises. Operating lease periods generally range from 5 to 10 years.

Certain leases provide for additional rent payments based on a percentage of store sales. Also, most of the Company’s leases require the payment of certain executory costs such as insurance, maintenance, and other costs in addition to the future minimum lease payments. These costs, including the amortization of lease rights, totaled $147 million in 2018, $146 million in 2017, and $141 million in 2016. Included in the amounts below are non-store expenses that totaled $25 million in 2018 and $24 million in both 2017 and 2016.

 

 

 

 

 

 

 

 

 

 

 

    

2018

    

2017

    

2016

 

 

($ in millions)

Minimum rent

 

$

728

 

$

714

 

$

667

Contingent rent based on sales

 

 

27

 

 

26

 

 

29

Sublease income

 

 

(5)

 

 

(5)

 

 

(6)

 

 

$

750

 

$

735

 

$

690

 

Future minimum lease payments under non-cancellable operating leases, net of future non-cancellable operating sublease payments, are:

 

 

 

 

 

    

($ in millions)

2019

 

$

672

2020

 

 

631

2021

 

 

583

2022

 

 

527

2023

 

 

456

Thereafter

 

 

1,408

Total operating lease commitments

 

$

4,277