Leases (Tables)

6 Months Ended

Aug. 01, 2020

Leases [Abstract]

Lease Cost

Operating lease expense was as follows:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
Operating lease cost (1)	$	59,558	$	62,341	$	120,562	$	127,243

⁽¹⁾ For the thirteen and twenty-six weeks ended August 1, 2020, includes approximately $7.7 million and $16.1 million, respectively, in variable lease costs. For the thirteen and twenty-six weeks ended August 3, 2019, includes approximately $5.0 million and $13.0 million, respectively, in variable lease costs.

Supplemental cash flow information related to operating leases was as follows:

	Twenty-Six Weeks Ended
	August 1, 2020			August 3, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows	$	38,673	(1)	$	114,186
Right of use assets obtained in exchange for lease obligations, non-cash	12,775			15,465

⁽¹⁾ The Company deferred substantially all rent payments due in the months of April, May and June 2020, and made reduced rent payments in July 2020. We are in active discussions with landlords to find a mutually beneficial and agreeable path forward.

Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to operating leases was as follows:

	August 1, 2020			February 1, 2020			August 3, 2019
Right of use assets (1)	$	571,992		$	648,397		$	697,332
Current lease liabilities	$	218,691		$	157,043		$	158,866
Long-term lease liabilities	482,380			555,922			611,308
Total operating lease liabilities	$	701,071		$	712,965		$	770,174
Weighted Average Remaining Lease Term (years)	4.6			4.8			5.0
Weighted Average Discount Rate (2)	5.5		%	5.6		%	5.7		%

⁽¹⁾ During the thirteen and twenty-six weeks ended August 1, 2020, we completed an evaluation of our operating lease assets for indicators of impairment as a result of the impact of the pandemic, and consequently, recorded pre-tax impairment charges of approximately $0.8 million and $3.2 million, respectively, which is included in cost of goods sold, pre-tax, in the accompanying unaudited condensed consolidated statements of loss.

⁽²⁾ The incremental borrowing rate used by the Company is based on the rate at which the Company could borrow funds using its credit rating for a collateralized loan of similar term to the lease. The weighted average discount rate represents a weighted average of the incremental borrowing rate for each lease weighted based on the remaining fixed lease obligations.

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of August 1, 2020 were as follows:

Fiscal Year Ending:
January 30, 2021	$	156,617
January 29, 2022	190,630
January 28, 2023	153,349
February 4, 2024	106,104
February 1, 2025	77,695
Thereafter	108,998
Total future minimum lease payments	$	793,393
Less imputed interest	(92,322		)
Total	$	701,071