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Accounting for Leases (Tables)

12 Months Ended

Feb. 03, 2019

Schedule of Total Rent Expense for All Operating Leases

Total rent expense for all operating leases was as follows:

In thousands		Fiscal 2018 (53 Weeks)				Fiscal 2017 (52 Weeks)				Fiscal 2016 (52 Weeks)
Rent expense		$	271,522			$	263,409			$	251,066
Contingent rent expense			26,414				24,918				26,980
Rent expense before deferred lease incentive income			297,936				288,327				278,046
Deferred lease incentive income			(26,189	)			(25,293	)			(25,298	)
Less: sublease rental income			(522	)			(578	)			(558	)
Total rent expense1		$	271,225			$	262,456			$	252,190

1 Excludes all other occupancy-related costs including depreciation, common area maintenance, property taxes and utilities.

Schedule of Aggregate Future Minimum Annual Cash Rental Payments Under Non-Cancellable Operating Leases

The aggregate contractual future minimum annual cash rental payments under non-cancellable operating leases in effect at February 3, 2019 were as follows:

In thousands		Lease Commitments1
Fiscal 2019		$	292,387
Fiscal 2020			262,429
Fiscal 2021			225,755
Fiscal 2022			190,263
Fiscal 2023			160,308
Thereafter			559,802
Total		$	1,690,944

1  Projected cash payments include only those amounts that are fixed and determinable as of the reporting date and are not necessarily representative of future expected rent expense. We currently pay rent for certain store locations based on a percentage of store sales. As future store sales cannot be predicted with certainty, projected payments for these locations are based on minimum rent, which is generally higher than rent based on a percentage of store sales. We incur other lease obligation expenses, such as common area maintenance and other executory costs, which are not fixed in nature and are thus not included in the future projected cash payments reflected above. In addition, projected cash payments do not include any benefit from deferred lease incentive income, which is reflected within “Total rent expense” above.

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/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

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X

- Definition

Tabular disclosure of rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41499-112717

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