Leases (Tables)

3 Months Ended

May 02, 2020

Leases [Abstract]

Lease, Cost

The following table summarizes our classification of lease cost (in thousands):

	Statement of Operations Location	13 Weeks Ended May 2, 2020
Operating lease cost (1)	Selling, general and administrative expenses	$	24,266
Finance lease cost:
Amortization of finance lease assets	Selling, general and administrative expenses	359
Interest on lease liabilities	Interest expense, net	62
Variable lease cost	Selling, general and administrative expenses	9,692
Net lease cost		$	34,379

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⁽¹⁾ Includes lease costs for short-term leases, which are immaterial.

Lessee, Lease, Liability, Maturity

As of May 2, 2020, the following table summarizes the maturity of our lease liabilities (in thousands):

	Operating Leases		Finance Leases		Total
Remainder of 2020	$	99,333	$	1,451	$	100,784
2021	94,171		1,525		95,696
2022	80,653		1,259		81,912
2023	65,954		489		66,443
2024	52,127		1		52,128
Thereafter	77,062		—		77,062
Total lease payments	469,300		4,725		474,025
Less: Interest	(76,100)		(433)		(76,533)
Present value of lease liabilities	$	393,200	$	4,292	$	397,492

Disclosure of Lease Term and Weighted Average Discount Rate

The following table summarizes our lease term and discount rate:

	May 2, 2020
Weighted-average remaining lease term (years):
Operating leases	5 years
Finance leases	3 years
Weighted-average discount rate:
Operating leases	5.1	%
Finance leases	7.2	%

Disclosure of Cash Flows Relating to Leases

The following table summarizes the other information related to our lease liabilities (in thousands):

	13 Weeks Ended May 2, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19,302
Operating cash flows from finance leases	62
Financing cash flows from finance leases	459