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Leases
9 Months Ended
Oct. 30, 2021
Leases [Abstract]  
Leases

Note 8 – Leases

 

We lease all of our physical stores and our single distribution center, which has a current lease term expiring in 2034.  We also enter into leases of equipment, copiers and billboards.  All of our leases are operating leases.  Leases with terms of twelve months or less are immaterial and are expensed as incurred, and we did not have any leases with related parties as of October 30, 2021.   

 

Lease costs, including related common area maintenance (“CAM”), property taxes, and insurance, reported in our Condensed Consolidated Statements of Income were as follows for the thirteen and thirty-nine weeks ended October 30, 2021 and October 31, 2020:

 

(In thousands)

 

Thirteen

Weeks Ended October 30, 2021

 

 

Thirteen

Weeks Ended October 31, 2020

 

 

Thirty-nine

Weeks Ended October 30, 2021

 

 

Thirty-nine

Weeks Ended October 31, 2020

 

Operating lease cost

 

$

13,520

 

 

$

13,432

 

 

$

40,272

 

 

$

40,047

 

Variable lease cost

 

 

713

 

 

 

490

 

 

 

2,413

 

 

 

1,464

 

CAM, property taxes and insurance

 

 

4,746

 

 

 

4,888

 

 

 

14,375

 

 

 

15,023

 

Total

 

$

18,979

 

 

$

18,810

 

 

$

57,060

 

 

$

56,534