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Leases (Tables) | 12 Months Ended
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Jan. 30, 2021
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:
|  | January 30, 2021 |  | February 1, 2020
Weighted average remaining lease term |  | 6.2 years |  | 6.7 years
Weighted average discount rate |  | 5.5 | % |  | 5.5 | %
Total Lease Costs For Operating Leases | Total lease costs are as follows:
(in millions) |  | Fiscal 2021 |  | Fiscal 2020 |  |
Operating lease cost |  | $ | 436.3 |  |  | 460.3 |  |  |
Short-term lease cost |  | 16.3 |  |  | 19.4 |  |  |
Variable lease cost |  | 110.3 |  |  | 107.1 |  |  |
Sublease income |  | (1.8) |  |  | (2.0) |  |  |
Total lease cost |  | $ | 561.1 |  |  | $ | 584.8 |  |  |
Rental Expense For Operating Leases | Total rent expense as determined prior to the adoption of ASC 842 was as follows:
(in millions) |  | Fiscal 2019
Minimum rentals |  | $ | 510.3 |
Contingent rent |  | 8.1 |
Sublease income |  | (1.1) |
Total rent expense |  | $ | 517.3 |
Schedule of Supplemental Cash Flow Information | Supplemental cash flow information related to leases was as follows:
(in millions) |  | Fiscal 2021 |  | Fiscal 2020 |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 400.4 |  |  | $ | 467.7 |  |  |
Operating lease right-of-use assets obtained in exchange for lease obligations |  | 70.8 |  |  | 149.9 |  |  |
Reduction in the carrying amount of ROU assets (1) |  | 348.3 |  |  | 360.1 |  |  |
(1) Excludes impairment of ROU assets of $36.9 million during Fiscal 2021, as further described in Note 16.
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) |  | January 30, 2021
Fiscal 2022 |  | $ | 503.9 |
Fiscal 2023 |  | 349.8 |
Fiscal 2024 |  | 275.3 |
Fiscal 2025 |  | 214.6 |
Fiscal 2026 |  | 157.2 |
Thereafter |  | 396.7 |
Total minimum lease payments |  | $ | 1,897.5 |
Less: Imputed interest |  | (372.9) |
Present value of lease liabilities |  | $ | 1,524.6 |

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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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- Definition Tabular disclosure of rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121573735&loc=d3e41499-112717 + Details
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