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Leases (Tables)

12 Months Ended

Feb. 01, 2020

Leases [Abstract]

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases as of February 1, 2020 is as follows:

			February 1, 2020
Weighted-average remaining lease term			7.2 years
Weighted-average discount rate			2.9		%

The following table is a summary of the Company’s components of net lease cost for the fiscal year ended February 1, 2020:

In thousands			Classification			February 1, 2020
Operating lease cost			Cost of sales, including buying and occupancy costs			$	1,752,122
Variable and short term lease cost			Cost of sales, including buying and occupancy costs			1,226,716
Total lease cost						$	2,978,838

Supplemental cash flow information related to leases for the fiscal year ended February 1, 2020 is as follows:

In thousands			February 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases			$	1,736,403
Lease liabilities arising from obtaining right of use assets			$	1,786,212

Operating Leases Maturity Schedule

The following table summarizes the maturity of lease liabilities under operating leases as of February 1, 2020:

In thousands			February 1, 2020
Fiscal year 2021			$	1,781,208
2022			1,667,836
2023			1,511,599
2024			1,327,875
2025			1,100,887
Later years			2,828,567
Total lease payments(a)			10,217,972
Less: imputed interest(b)			990,123
Total lease liabilities(c)			$	9,227,849

(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.

Gross Minimum Rental Commitments Under Noncancelable Leases

The following table represents the gross minimum rental commitments under noncancelable leases as of the fiscal year ended February 2, 2019, prior to our adoption of Topic 842:

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

X

- 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

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X

- References

No definition available.

+ Details

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X

- 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

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X

- 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/otherTransitionRef
-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

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