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LEASES | 12 Months Ended
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Jan. 29, 2022
Leases [Abstract] |
LEASES | LEASES The following components of lease expense were recognized in the Company’s Consolidated Statements of Operations:
| Fiscal Years Ended
| January 29, 2022 |  | January 30, 2021 |  | February 1, 2020
| (in thousands)
Fixed operating lease cost | $ | 113,681 |  |  | $ | 128,373 |  |  | $ | 149,006 |
Variable operating lease cost (1) | 39,711 |  |  | 44,085 |  |  | 64,228 |
Total operating lease cost | $ | 153,392 |  |  | $ | 172,458 |  |  | $ | 213,234 |
____________________________________________ (1)Includes short term leases with lease periods of less than 12 months as well as lease abatements accounted for as reductions to variable lease costs under the COVID-19 expedient of $12.1 million and $12.9 million for Fiscal 2021 and Fiscal 2020, respectively. As of January 29, 2022, the weighted-average remaining operating lease term was 4.3 years, and the weighted-average discount rate for operating leases was 5.2%. Cash paid for amounts included in the measurement of operating lease liabilities in Fiscal 2021 was $172.5 million. ROU assets obtained in exchange for new operating lease liabilities were $14.0 million in Fiscal 2021. As of January 29, 2022, the maturities of operating lease liabilities were as follows:
| January 29, 2022
| (in thousands)
2022 | $ | 98,415 |  |
2023 | 52,337 |  |
2024 | 30,478 |  |
2025 | 18,384 |  |
2026 | 16,066 |  |
Thereafter | 33,945 |  |
Total lease payments | 249,625 |  |
Less: imputed interest | (23,767) |  |
Present value of operating lease liabilities | $ | 225,858 |  |

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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 http://asc.fasb.org/subtopic&trid=77888251 + Details
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