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Leases
6 Months Ended
Jul. 31, 2020
Leases [Abstract]  
Leases

7. Leases

The Company has operating leases for stores, distribution and fulfillment centers, corporate offices and equipment. The Company subleases certain properties to third parties.

Total operating lease costs were $69,183 and $137,193 during the three and six months ended July 31, 2020, respectively, and $67,827 and $134,075 during the three and six months ended July 31, 2019, respectively. Total variable lease costs were $23,154 and $51,594 during the three and six months ended July 31, 2020, respectively, and $31,554 and $64,431 during the three and six months ended July 31, 2019, respectively. Short-term lease costs and sublease income were not material during the three and six months ended July 31, 2020 and July 31, 2019.

The following is a schedule by year of the maturities of operating lease liabilities with original terms in excess of one year, as of July 31, 2020:

 

 

 

Operating

 

 

 

Leases

 

Fiscal Year

 

 

 

 

2021 (excluding the six months ended July 31, 2020)

 

$

203,340

 

2022

 

 

282,277

 

2023

 

 

248,641

 

2024

 

 

218,713

 

2025

 

 

182,810

 

Thereafter

 

 

622,924

 

Total undiscounted future minimum lease payments

 

 

1,758,705

 

Less imputed interest

 

 

(386,129

)

Total discounted future minimum lease payments

 

$

1,372,576

 

 

 

 

 

 

As of July 31, 2020, the Company had commitments of approximately $17,367 not included in the amounts above related to eight executed but not yet commenced store leases.

In response to the coronavirus pandemic and mandated store closures, the Company withheld certain minimum lease payments due to landlords.  The amount withheld at July 31, 2020 was included in “Current portion of operating lease liabilities” in the Condensed Consolidated Balance Sheets.

The Company has been in discussion with its landlords to obtain rent concessions. To the extent the rent concessions do not result in a substantial increase in total payments in the existing lease, the Company will account for such rent concessions as negative variable rent. To the extent the rent concessions do result in a substantial increase in total payments in the existing lease, the Company will account for such rent concessions as a lease modification.