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Lease Accounting Lease Accounting (Tables) | 6 Months Ended
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Aug. 03, 2019
Leases [Abstract] |
Assets and liabilities, lessee | As of August 3, 2019, the components of leases and lease costs are as follows (in thousands):
| Balance Sheet Location | Aug 3, 2019
Assets |  |
Operating | Operating lease right-of-use assets | $ | 900,062 |
Finance | Property and equipment, net | 17,402 |
Total lease assets | $ | 917,464 |
Liabilities |  |
Current: |  |
Operating | Current portion of operating lease liabilities | $ | 213,912 |
Finance | Current portion of borrowings and finance lease obligations | 2,465 |
Noncurrent: |  |
Operating | Long-term operating lease liabilities | 747,791 |
Finance | Long-term debt and finance lease obligations, net | 15,618 |
Total lease liabilities | $ | 979,786 |
Lease cost | Other supplemental information as of August 3, 2019 is as follows (dollars in thousands):
Lease Term and Discount Rate | Aug 3, 2019
Weighted-average remaining lease term (years) |
Operating leases | 6.0 years
Finance leases | 6.8 years
Weighted-average discount rate |
Operating leases | 3.6%
Finance leases | 7.1%
Supplemental Cash Flow Information | Six Months Ended Aug 3, 2019
Cash paid for amounts included in the measurement of lease liabilities |
Operating cash flows from operating leases | $ | 124,687 |
New operating ROU assets obtained in exchange for lease liabilities | $ | 99,951 |
| Income Statement Location | Three Months Ended Aug 3, 2019 |  | Six Months Ended Aug 3, 2019
Operating lease costs1 | Cost of product sales | $ | 58,749 |  |  | $ | 117,565 |
Operating lease costs1 | Selling, general and administrative expenses | 5,720 |  |  | 10,984 |
Finance lease costs |  |  |  |
Amortization of leased assets2 | Cost of product sales | 44 |  |  | 87 |
Amortization of leased assets2 | Selling, general and administrative expenses | 637 |  |  | 1,180 |
Interest on lease liabilities | Interest expense | 286 |  |  | 573 |
Variable lease costs1 | Cost of product sales | 25,083 |  |  | 49,908 |
Variable lease costs1 | Selling, general and administrative expenses | 628 |  |  | 1,455 |
Short-term lease costs1 | Selling, general and administrative expenses | 183 |  |  | 395 |
Total lease costs | $ | 91,330 |  |  | $ | 182,147 |
______________________________________________________________________ Notes:
1 | Rental expense for all property and equipment operating leases during the three and six months ended August 4, 2018 aggregated $70.6 million and $142.8 million, respectively, including percentage rent of $15.5 million and $31.9 million, respectively. During the three and six months ended August 4, 2018, the Company also recognized insurance, taxes, sales promotion and common area maintenance charges totaling $16.4 million and $31.3 million, respectively, 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 income.
Operating lease liabilities maturity schedule | Maturities of the Company’s operating and finance lease liabilities as of August 3, 2019 are as follows (in thousands):
Maturity of Lease Liabilities | Operating Leases |  | Finance Leases |  | Total
20201 | $ | 131,202 |  |  | $ | 1,825 |  |  | $ | 133,027 |
2021 | 201,770 |  |  | 3,342 |  |  | 205,112 |
2022 | 189,492 |  |  | 3,646 |  |  | 193,138 |
2023 | 158,132 |  |  | 3,255 |  |  | 161,387 |
2024 | 132,342 |  |  | 3,092 |  |  | 135,434 |
After 2024 | 255,194 |  |  | 7,577 |  |  | 262,771 |
Total lease payments | 1,068,132 |  |  | 22,737 |  |  | 1,090,869 |
Less: Interest | 106,429 |  |  | 4,654 |  |  | 111,083 |
Present value of lease liabilities | $ | 961,703 |  |  | $ | 18,083 |  |  | $ | 979,786 |
______________________________________________________________________ Notes: 1 Represents the maturity of lease liabilities for the remainder of fiscal 2020 and does not include payments made during the six months ended August 3, 2019.
Finance lease liabilities maturity schedule | Maturities of the Company’s operating and finance lease liabilities as of August 3, 2019 are as follows (in thousands):
Maturity of Lease Liabilities | Operating Leases |  | Finance Leases |  | Total
20201 | $ | 131,202 |  |  | $ | 1,825 |  |  | $ | 133,027 |
2021 | 201,770 |  |  | 3,342 |  |  | 205,112 |
2022 | 189,492 |  |  | 3,646 |  |  | 193,138 |
2023 | 158,132 |  |  | 3,255 |  |  | 161,387 |
2024 | 132,342 |  |  | 3,092 |  |  | 135,434 |
After 2024 | 255,194 |  |  | 7,577 |  |  | 262,771 |
Total lease payments | 1,068,132 |  |  | 22,737 |  |  | 1,090,869 |
Less: Interest | 106,429 |  |  | 4,654 |  |  | 111,083 |
Present value of lease liabilities | $ | 961,703 |  |  | $ | 18,083 |  |  | $ | 979,786 |
______________________________________________________________________ Notes: 1 Represents the maturity of lease liabilities for the remainder of fiscal 2020 and does not include payments made during the six months ended August 3, 2019.

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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=77888426&loc=SL77918701-209980 + 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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- 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=77888426&loc=SL77918701-209980 + Details
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