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Lease Accounting Lease Accounting (Tables) | 3 Months Ended
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May 04, 2019
Leases [Abstract] |
Assets and liabilities, lessee | As of May 4, 2019, the components of leases and lease costs are as follows (in thousands):
| Balance Sheet Location | May 4, 2019
Assets |  |
Operating | Operating lease right-of-use assets | $ | 921,084 |
Finance | Property and equipment, net | 15,197 |
Total lease assets | $ | 936,281 |
Liabilities |  |
Current: |  |
Operating | Current portion of operating lease liabilities | $ | 217,110 |
Finance | Current portion of borrowings and finance lease obligations | 1,976 |
Noncurrent: |  |
Operating | Long-term operating lease liabilities | 764,202 |
Finance | Long-term debt and finance lease obligations, net | 14,591 |
Total lease liabilities | $ | 997,879 |
Lease cost |
| Income Statement Location | Three Months Ended May 4, 2019
Operating lease costs 1 | Cost of product sales | $ | 58,816 |
Operating lease costs 1 | Selling, general and administrative expenses | 5,264 |
Finance lease costs |  |
Amortization of leased assets 2 | Cost of product sales | 43 |
Amortization of leased assets 2 | Selling, general and administrative expenses | 543 |
Interest on lease liabilities | Interest expense | 287 |
Variable lease costs 1 | Cost of product sales | 24,825 |
Variable lease costs 1 | Selling, general and administrative expenses | 827 |
Short-term lease costs 1 | Selling, general and administrative expenses | 212 |
Total lease costs | $ | 90,817 |
__________________________________ Notes:
1 | Rental expense for all property and equipment operating leases during the three months ended May 5, 2018 aggregated $72.2 million, including percentage rent of $16.4 million. During the three months ended May 5, 2018, the Company also recognized insurance, taxes, sales promotion and common area maintenance charges totaling $14.9 million related to its operating leases.
2 | Amortization of leased assets related to finance leases are included in depreciation expense in the Company’s condensed consolidated statements of loss.
Maturities of the Company's operating and finance lease liabilities | Maturities of the Company’s operating and finance lease liabilities as of May 4, 2019 are as follows (in thousands):
Maturity of Lease Liabilities | Operating Leases |  | Finance Leases |  | Total
2020 1 | $ | 191,782 |  |  | $ | 2,309 |  |  | $ | 194,091 |
2021 | 196,564 |  |  | 2,819 |  |  | 199,383 |
2022 | 182,630 |  |  | 3,074 |  |  | 185,704 |
2023 | 151,931 |  |  | 2,752 |  |  | 154,683 |
2024 | 126,256 |  |  | 2,620 |  |  | 128,876 |
After 2024 | 238,400 |  |  | 7,625 |  |  | 246,025 |
Total lease payments | 1,087,563 |  |  | 21,199 |  |  | 1,108,762 |
Less: Interest | 106,251 |  |  | 4,632 |  |  | 110,883 |
Present value of lease liabilities | $ | 981,312 |  |  | $ | 16,567 |  |  | $ | 997,879 |
__________________________________ Notes:
1 | Represents the maturity of lease liabilities for the remainder of fiscal 2020 and does not include payments made during the three months ended May 4, 2019.
Other supplemental information | Other supplemental information as of May 4, 2019 is as follows (dollars in thousands):
Lease Term and Discount Rate | May 4, 2019
Weighted-average remaining lease term (years) |
Operating leases | 6.0 years |
Finance leases | 7.3 years |
Weighted-average discount rate |
Operating leases | 3.6 | %
Finance leases | 7.2 | %
Supplemental Cash Flow Information | Three Months Ended May 4, 2019
Cash paid for amounts included in the measurement of lease liabilities |
Operating cash flows from operating leases | $ | 62,082 |
New operating right-of-use assets obtained in exchange for lease liabilities | 68,804 |

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- Definition Tabular disclosure of undiscounted cash flows of operating and finance lease liabilities. Includes, but is not limited to, a reconciliation of undiscounted cash flows to the operating and finance liabilities recognized in the statement of financial position. + References No definition available. + Details
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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=77888426&loc=SL77918686-209980 + Details
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