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Leases
12 Months Ended
Feb. 02, 2020
Leases [Abstract]  
Leases
Note
E
:
Leases
The components of
our lease costs
 are as follows:
I
n
thousands
 
Fiscal 2019
(52 Weeks)
 
Operating lease costs
  $
267,883
 
Variable lease costs
   
129,018
 
         
Total lease costs
  $
396,901
 
Sublease income and short-term lease costs were not material to us for
fiscal
2019.
Supplemental cash flow information related to our leases are as follows:
In thousands
 
Fiscal 2019
(52 Weeks)
 
Cash paid for amounts included in the measurement of operating lease liabilities
  $
285,678
 
Net additions to
right-of-use
assets
 
$
150,401
 
         
As of February 2, 2020, additional information related to our leases is as follows:
Weighted average remaining lease term (years)
   
7.3
 
Weighted average incremental borrowing rate
   
3.8
%
         
As of February 2, 2020, the future minimum lease payments under our operating lease liabilities are as follows:
In thousands
 
 
Fiscal 2020
 
$
281,995
 
Fiscal 2021
   
246,588
 
Fiscal 2022
   
212,629
 
Fiscal 2023
   
178,650
 
Fiscal 2024
   
154,594
 
Fiscal 2025 and thereafter
   
463,280
 
Total lease payments
   
1,537,736
 
Less interest
   
(215,234
)
Total operating lease liabilities
   
1,322,502
 
Less current operating lease liabilities
   
(227,923
)
Total
non-current
operating lease liabilities
  $
1,094,579
 
As previously disclosed in our 2018 Annual Report on Form
10-K
and under the previous lease accounting standard, future minimum lease payments under
non-cancellable
operating leases as of February 3, 2019 were as follows:
In thousands
 
 
 
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
 
Memphis-Based Distribution Facility
In fiscal 2015, we entered into an agreement with a partnership comprised of the estate of W. Howard Lester, our former Chairman of the Board and Chief Executive Officer, and the estate of James A. McMahan, a former Director Emeritus and significant stockholder and two unrelated parties to lease a distribution facility in Memphis, Tennessee through July 2017. In fiscal 2017, we amended the lease to further extend the term through July 2020. The amended lease provides for two additional
one-year
renewal options. We made annual rental payments of approximately $1,765,000, $1,689,000, and $1,629,000 plus applicable taxes, insurance and maintenance expenses in fiscal 2019, fiscal 2018 and fiscal 2017, respectively.