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Leases | 12 Months Ended
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Feb. 01, 2025
Leases [Abstract] |
Leases | Leases The Company leases substantially all of its stores, three of its distribution centers and certain equipment under non-cancellable operating leases that expire at various dates through 2042. The Company’s stores generally have initial lease terms of 10 to 15 years and contain multiple five-year renewal options and rent escalation provisions. These lease agreements provide primarily for the payment of minimum annual rentals, costs of utilities, property taxes, maintenance, common areas and insurance. The components of lease cost for the following fiscal years presented below were as follows (in thousands):
|  | 2024 |  | 2023 |  | 2022 |
Operating lease cost |  | $ | 636,744 |  |  | $ | 612,595 |  |  | $ | 581,459 |  |
Short-term lease cost |  | 26,186 |  |  | 31,234 |  |  | 27,827 |  |
Variable lease cost |  | 131,832 |  |  | 125,043 |  |  | 116,516 |  |
Sublease income |  | (11,842) |  |  | (11,730) |  |  | (11,787) |  |
Total lease cost |  | $ | 782,920 |  |  | $ | 757,142 |  |  | $ | 714,015 |  |
Supplemental cash flow information related to operating leases for the following fiscal years are presented below (in thousands):
|  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 708,988 |  |  | $ | 733,455 |  |  | $ | 615,772 |
Non-cash operating lease assets obtained in exchange for operating lease liabilities |  | $ | 767,645 |  |  | $ | 697,499 |  |  | $ | 558,779 |
Supplemental balance sheet information related to operating leases were as follows:
|  | February 1, 2025 |  | February 3, 2024
Weighted average remaining lease term for operating leases |  | 7.37 years |  | 6.78 years
Weighted average discount rate for operating leases |  | 5.51 | % |  | 5.68 | %
Future maturities of operating lease liabilities were as follows as of February 1, 2025 (in thousands):
Fiscal Year |  |  |  |  |  |  |  |
2025 |  | $ | 654,601 |  |  |  |  |  |  |
2026 |  | 652,882 |  |  |  |  |  |  |
2027 |  | 553,760 |  |  |  |  |  |  |
2028 |  | 423,857 |  |  |  |  |  |  |
2029 |  | 313,729 |  |  |  |  |  |  |
Thereafter |  | 1,081,974 |  |  |  |  |  |  |
Total future undiscounted lease payments |  | 3,680,803 |  |  |  |  |  |  |
Less: imputed interest |  | (677,260) |  |  |  |  |  |  |
Total reported lease liability |  | $ | 3,003,543 |  |  |  |  |  |  |
The Company has entered into operating leases related to future store locations that have not yet commenced. As of February 1, 2025, the future minimum payments on these leases approximated $352.1 million. The Company acts as sublessor on several operating leases. As of February 1, 2025, total future undiscounted minimum rentals under non-cancellable subleases approximated $44.2 million.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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