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Lease Accounting (Tables)
 12 Months Ended
Feb. 03, 2024
Leases [Abstract]  
Assets and liabilities, lessee
The components of leases are as follows (in thousands):
Feb 3, 2024Jan 28, 2023
AssetsBalance Sheet Location
Operating$667,031 $636,148 Operating lease right-of-use assets
Finance15,132 19,055 Property and equipment, net
Total lease assets$682,163 $655,203 
Liabilities
Current:
Operating$166,451 $170,192 Current portion of operating lease liabilities
Finance5,573 6,684 Current portion of borrowings and finance lease obligations
Noncurrent:
Operating542,392 528,236 Long-term operating lease liabilities
Finance9,857 13,181 Long-term debt and finance lease obligations
Total lease liabilities$724,273 $718,293 
Lease cost
Year Ended
Feb 3, 2024Jan 28, 2023Jan 29, 2022
Income Statement Location
Operating lease costs$181,760 $175,752 $181,888 Cost of product sales
Operating lease costs26,771 24,845 25,047 Selling, general and administrative expenses
Operating lease costs1
(1,662)(2,267)(259)Net gains on lease modifications
Finance lease costs
Amortization of leased assets69 81 55 Cost of product sales
Amortization of leased assets6,412 6,177 5,525 Selling, general and administrative expenses
Interest on lease liabilities769 965 1,462 Interest expense
Variable lease costs2
101,056 92,331 75,339 Cost of product sales
Variable lease costs2
4,732 3,335 2,175 Selling, general and administrative expenses
Short-term lease costs316 351 366 Cost of product sales
Short-term lease costs6,005 6,141 4,856 Selling, general and administrative expenses
Total lease costs$326,228 $307,711 $296,454 
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1During fiscal 2024, fiscal 2023 and fiscal 2022 net gains on lease modifications related primarily to the early termination of certain lease agreements. Operating lease costs for these retail locations prior to the early termination were included in cost of product sales.
2During fiscal 2024, fiscal 2023 and fiscal 2022 variable lease costs included certain rent concessions received by the Company, primarily in Europe, of approximately $1.7 million, $5.2 million and $17.3 million, respectively.
Operating lease liabilities maturity schedule
Maturities of the Company’s operating and finance lease liabilities as of February 3, 2024 are as follows (in thousands):
Operating Leases
Non-Related PartiesRelated PartiesFinance LeasesTotal
Maturity of Lease Liabilities:
Fiscal 2025$187,362 $8,337 $6,202 $201,901 
Fiscal 2026134,829 7,228 5,686 147,743 
Fiscal 2027118,529 7,785 3,170 129,484 
Fiscal 202887,931 7,699 1,337 96,967 
Fiscal 202969,087 8,464 284 77,835 
Thereafter170,866 12,325 — 183,191 
Total lease payments768,604 51,838 16,679 837,121 
Less: Interest101,047 10,552 1,249 112,848 
Present value of lease liabilities$667,557 $41,286 $15,430 $724,273 
Finance lease liabilities maturity schedule
Maturities of the Company’s operating and finance lease liabilities as of February 3, 2024 are as follows (in thousands):
Operating Leases
Non-Related PartiesRelated PartiesFinance LeasesTotal
Maturity of Lease Liabilities:
Fiscal 2025$187,362 $8,337 $6,202 $201,901 
Fiscal 2026134,829 7,228 5,686 147,743 
Fiscal 2027118,529 7,785 3,170 129,484 
Fiscal 202887,931 7,699 1,337 96,967 
Fiscal 202969,087 8,464 284 77,835 
Thereafter170,866 12,325 — 183,191 
Total lease payments768,604 51,838 16,679 837,121 
Less: Interest101,047 10,552 1,249 112,848 
Present value of lease liabilities$667,557 $41,286 $15,430 $724,273 
Other supplemental information
Other supplemental information is as follows (in thousands):
Feb 3, 2024
Lease Term and Discount Rate:
Weighted-average remaining lease term (years)
Operating leases6.2 years
Finance leases3.1 years
Weighted-average discount rate
Operating leases4.9%
Finance leases5.1%
Year Ended
Feb 3, 2024Jan 28, 2023Jan 29, 2022
Supplemental Cash Flow Information:
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$207,575 $220,767 $225,652 
New operating ROU assets obtained in exchange for lease liabilities$165,889 $131,363 $156,102