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Leases (Tables) | 12 Months Ended
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Jan. 30, 2021
Leases [Abstract] |
Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases is as follows:
| Fiscal Year Ended
| January 30, 2021 | February 1, 2020
Weighted-average remaining lease term | 6.8 years | 7.2 years
Weighted-average discount rate | 2.6 | % | 2.9 | %
The following table is a summary of the Company’s components of net lease cost for the fiscal years ended:
|  | Fiscal Year Ended |
In thousands | Classification | January 30, 2021 | February 1, 2020 |
Operating lease cost | Cost of sales, including buying and occupancy costs | $ | 1,820,396 |  | $ | 1,752,122 |  |
Variable and short term lease cost | Cost of sales, including buying and occupancy costs | 1,162,971 |  | 1,226,716 |  |
Total lease cost |  | $ | 2,983,367 |  | $ | 2,978,838 |  |
Supplemental cash flow information related to leases is as follows:
| Fiscal Year Ended
In thousands | January 30, 2021 | February 1, 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows paid for operating leases | $ | 1,663,005 |  | $ | 1,736,403 |
Lease liabilities arising from obtaining right of use assets | $ | 1,380,402 |  | $ | 1,786,212 |
Operating Leases Maturity Schedule | The following table summarizes the maturity of lease liabilities under operating leases as of January 30, 2021:
In thousands | January 30, 2021
Fiscal Year |
2022 | $ | 2,049,652 |
2023 | 1,741,490 |
2024 | 1,559,123 |
2025 | 1,331,267 |
2026 | 1,087,555 |
Later years | 2,507,701 |
Total lease payments(a) | 10,276,788 |
Less: imputed interest(b) | 855,967 |
Total lease liabilities(c) | $ | 9,420,821 |
(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.

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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=121609121&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=121609121&loc=SL77918701-209980 + Details
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