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Leases (Tables) | 6 Months Ended
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Aug. 01, 2020
Leases [Abstract] |
Schedule of Lease Term and DIscount Rate | The weighted average lease term and discount rate for the Company’s outstanding operating leases were as follows:
|  |  |  |  | August 1, 2020 |  |
Weighted average remaining lease term (in years) |  |  |  |  | 6.5 |  |
Weighted average discount rate |  |  |  |  | 5.6 | % |  |
Total Lease Costs For Operating Leases | Total lease costs are as follows:
| 13 weeks ended |  |  |  | 26 weeks ended |  |
(in millions) | August 1, 2020 |  | August 3, 2019 |  | August 1, 2020 |  | August 3, 2019
Operating lease cost | $ | 105.5 |  |  | $ | 112.7 |  |  | $ | 216.9 |  |  | $ | 227.1 |
Short-term lease cost | 5.8 |  |  | 3.4 |  |  | 10.7 |  |  | 11.2 |
Variable lease cost | 26.3 |  |  | 27.4 |  |  | 51.9 |  |  | 54.0 |
Sublease income | (0.3) |  |  | (0.2) |  |  | (0.8) |  |  | (0.9) |
Total lease cost | $ | 137.3 |  |  | $ | 143.3 |  |  | $ | 278.7 |  |  | $ | 291.4 |
Schedule of Supplemental Cash Flow Information | Supplemental cash flow information related to leases was as follows:
| 13 weeks ended |  |  |  | 26 weeks ended |  |
(in millions) | August 1, 2020 |  | August 3, 2019 |  | August 1, 2020 |  | August 3, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 103.1 |  |  | $ | 111.9 |  |  | $ | 152.4 |  |  | $ | 229.9 |
Operating lease right-of-use assets obtained in exchange for lease obligations | 12.8 |  |  | 34.3 |  |  | 27.0 |  |  | 40.8 |
Reduction in the carrying amount of right-of-use assets (1) | 84.2 |  |  | 87.9 |  |  | 172.1 |  |  | 175.2 |
(1) Amount excludes impairment of right-of-use assets of $8.4 million and $36.9 million during the 13 and 26 weeks ended August 1, 2020, respectively, as further described in Note 13.
Future Minimum Operating Lease Payments | The future minimum operating lease payments for operating leases having initial or non-cancelable terms in excess of one year are as follows:
(in millions) |  | August 1, 2020
Remainder of Fiscal 2021 |  | $ | 230.6 |
Fiscal 2022 |  | 470.2 |
Fiscal 2023 |  | 332.0 |
Fiscal 2024 |  | 263.3 |
Fiscal 2025 |  | 207.5 |
Thereafter |  | 550.1 |
Total minimum lease payments |  | 2,053.7 |
Less: Imputed interest |  | (399.4) |
Present value of lease liabilities |  | $ | 1,654.3 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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