Operating Leases

12 Months Ended

Feb. 01, 2014

The Company leases substantially all of its stores, three distribution centers and equipment under non-cancelable operating leases that expire at various dates through 2028. Initial lease terms are generally for 10 to 25 years, and most leases contain multiple five-year renewal options and rent escalation provisions. The lease agreements provide primarily for the payment of minimum annual rentals, costs of utilities, property taxes, maintenance, common areas and insurance, and in some cases, contingent rent stated as a percentage of gross sales over certain base amounts. Rent expense under these operating leases totaled approximately $411.5 million, $388.3 million and $360.3 million for fiscal 2013, 2012 and 2011, respectively. The Company entered into sale-leaseback transactions related to store fixtures, buildings and equipment that resulted in cash receipts of $3.4 million and $21.1 million for fiscal 2012 and 2011, respectively.

Scheduled lease payments due under non-cancelable operating leases as of February 1, 2014 are as follows (in thousands):



Fiscal Year
2014	$	469,583
2015	479,560
2016	456,977
2017	415,395
2018	362,633
Thereafter	1,234,277
Total	$	3,418,425

The Company has subleases related to certain of its operating lease agreements. The Company recognized sublease rental income of $0.7 million, $0.9 million and $0.9 million in fiscal 2013, 2012 and 2011, respectively.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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