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Leases (Tables) | 12 Months Ended
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Feb. 03, 2024
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:
|  | February 3, 2024 |  | January 28, 2023
Weighted average remaining lease term |  | 7.0 years |  | 7.2 years
Weighted average discount rate |  | 6.1 | % |  | 5.8 | %
Schedule of Total Lease Costs For Operating Leases | Total lease costs consist of the following:
(in millions) |  | Fiscal 2024 |  | Fiscal 2023 |  | Fiscal 2022
Operating lease cost |  | $ | 391.9 |  |  | $ | 399.1 |  |  | $ | 431.8 |
Short-term lease cost |  | 47.9 |  |  | 47.4 |  |  | 11.5 |
Variable lease cost |  | 108.9 |  |  | 119.7 |  |  | 127.0 |
Sublease income |  | (0.6) |  |  | (1.5) |  |  | (1.9) |
Total lease cost |  | $ | 548.1 |  |  | $ | 564.7 |  |  | $ | 568.4 |
Schedule of Supplemental Cash Flow Information | Supplemental cash flow information related to leases consist of the following:
(in millions) |  | Fiscal 2024 |  | Fiscal 2023 |  | Fiscal 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 438.0 |  |  | $ | 387.5 |  |  | $ | 479.6 |
Operating lease right-of-use assets obtained in exchange for lease obligations (1) |  | 235.2 |  |  | 191.5 |  |  | 168.8 |
Reduction in the carrying amount of ROU assets (2) |  | 316.5 |  |  | 331.2 |  |  | 351.7 |
(1) Includes $39.1 million and $56.9 million of ROU assets acquired from Blue Nile in Fiscal 2023 and Diamonds Direct in Fiscal 2022, respectively, per Note 4. (2) Excludes ROU asset impairment charges, net of $2.7 million, $18.4 million and ROU asset impairment gains of $0.1 million during Fiscal 2024, Fiscal 2023, and Fiscal 2022, respectively, as further described in Note 16.
Schedule of Future Minimum Operating Lease Payments | The future minimum operating lease commitments for operating leases having initial or non-cancelable terms in excess of one year are as follows:
(in millions) |  | February 3, 2024
Fiscal 2025 |  | $ | 327.4 |
Fiscal 2026 |  | 269.8 |
Fiscal 2027 |  | 204.3 |
Fiscal 2028 |  | 137.4 |
Fiscal 2029 |  | 95.4 |
Thereafter |  | 378.1 |
Total minimum lease payments |  | $ | 1,412.4 |
Less: Imputed interest |  | (316.4) |
Present value of lease liabilities |  | $ | 1,096.0 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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