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Leases (Tables) | 3 Months Ended
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May 04, 2019
Leases [Abstract] |
Supplemental balance sheet information, Components of net lease cost and Supplemental cash flow information | Supplemental balance sheet information related to leases as of May 4, 2019 is as follows:
|  | May 4, 2019
Weighted-average remaining lease term (years): |  | 7.4 |
Weighted-average discount rate: |  | 3.1 | %
The following table is a summary of the Company’s components of net lease cost for the thirteen weeks ended May 4, 2019:
|  | Thirteen Weeks Ended
In thousands | Classification | May 4, 2019
Operating lease cost | Cost of sales, including buying and occupancy costs | $ | 430,331 |
Variable and short term lease cost | Cost of sales, including buying and occupancy costs | 281,506 |
Total lease cost |  | $ | 711,837 |
Supplemental cash flow information related to leases for the thirteen weeks ended May 4, 2019 is as follows:
|  | Thirteen Weeks Ended
In thousands |  | May 4, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows paid for operating leases |  | $ | 421,488 |
Lease liabilities arising from obtaining right of use assets |  | $ | 453,198 |
Operating lease liability maturity schedule | The following table summarizes the maturity of lease liabilities under operating leases as of May 4, 2019:
In thousands |  | May 4, 2019
Fiscal year 2020 (remaining 9 months) |  | $ | 1,292,888 |
2021 |  | 1,650,563 |
2022 |  | 1,499,833 |
2023 |  | 1,326,566 |
2024 |  | 1,129,183 |
Later years |  | 3,138,587 |
Total lease payments(a) |  | 10,037,620 |
Less: imputed interest(b) |  | 1,072,846 |
Total lease liabilities(c) |  | $ | 8,964,774 |
(a) | Operating lease payments exclude legally binding minimum lease payments for leases signed but not yet commenced and include options to extend lease terms that are now deemed reasonably certain of being exercised according to our Lease Accounting Policy.
(b) | Calculated using the incremental borrowing rate for each lease.
(c) | Total lease liabilities are broken out on the Consolidated Balance Sheets between Current portion of operating lease liabilities and Long-term operating lease liabilities.
Schedule of gross minimum rental commitments under noncancelable leases | The following table represents the gross minimum rental commitments under noncancelable leases, as disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended February 2, 2019:
In thousands |  |  | February 2, 2019
Fiscal year 2020 |  |  | $ | 1,676,700 |
2021 |  |  | 1,603,378 |
2022 |  |  | 1,441,444 |
2023 |  |  | 1,253,420 |
2024 |  |  | 1,042,184 |
Later years |  |  | 2,774,845 |
Total lease payments |  |  | $ | 9,791,971 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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