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Leases | 9 Months Ended
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Oct. 30, 2022
Leases |
Leases | Note 5: Leases We currently lease most of the buildings or sites for our stores, store support center, and warehouse space under facility operating leases. These leases typically have initial terms ranging from ten to twenty years and include one or more options to renew. When determining the lease term, we include option periods for which renewal is reasonably certain. Most of the leases require us to pay property taxes, insurance, and maintenance of the leased assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Operating leases also include certain equipment leases that have a term in excess of one year. Certain facility leases also have provisions for additional contingent rentals based on revenues. During fiscal 2020 and the first half of fiscal 2021, the Company entered into rent relief agreements with our respective landlords. The Company elected to apply an available practical expedient to account for lease concessions and deferrals resulting directly from the COVID-19 pandemic as though the enforceable rights and obligations to the deferrals existed in the respective contracts at lease inception and not account for the concessions as lease modifications unless the concession results in a substantial increase in the Company’s obligations. The majority of rent relief agreements qualified for this accounting election, and the remaining agreements were treated as lease modifications, primarily due to a significant extension of the lease term. The Company has bifurcated our current operating lease liabilities into the portion that remains subject to accretion and the portion that is accounted for as a deferral of payments. The current portion of deferred occupancy costs is included in “Accrued liabilities” and the balance, or $3,994 and $8,434 as of October 30, 2022, and January 30, 2022, respectively, is included in “Other liabilities” in the Consolidated Balance Sheets. Operating lease cost, variable lease cost and short-term lease cost related primarily to our facilities is included in “Other store operating expenses” for our operating stores, “Pre-opening costs” for our stores not yet operating, or “General and administrative expenses” for our corporate office and warehouse, in the Consolidated Statements of Comprehensive Income. The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and property taxes, are as follows:
|  | Thirteen Weeks Ended |  |  | Thirty-Nine Weeks Ended |
| 10/30/2022 |  |  | 10/31/2021 |  |  | 10/30/2022 |  |  | 10/31/2021 |
Operating lease cost |  | $ | 46,107 |  |  | $ | 33,915 |  |  | $ | 119,713 |  |  | $ | 100,506 |
Variable lease cost |  |  | 9,328 |  |  |  | 7,862 |  |  |  | 28,198 |  |  |  | 22,492 |
Short-term lease cost |  |  | 460 |  |  |  | 121 |  |  |  | 772 |  |  |  | 431 |
Future minimum lease payments on operating lease liabilities were as follows as of October 30, 2022, by fiscal year:
Remainder of 2022 |  | $ | 35,717 |
2023 |  |  | 191,775 |
2024 |  |  | 192,162 |
2025 |  |  | 193,349 |
2026 |  |  | 194,597 |
Thereafter |  |  | 1,799,995 |
Total future operating lease liability |  | $ | 2,607,595 |
Less: interest |  |  | (952,729 | )
Present value of operating lease liabilities |  | $ | 1,654,866 |
Operating lease payments in the table above includes minimum lease payments for future sites for which the leases have commenced. Operating lease payments exclude approximately $207,000 of minimum lease payments for twelve executed f ac ility leases which have not yet commenced.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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