(6) Leases

At the inception of the lease, the Company’s operating leases have remaining certain lease terms of up to 10 years, which typically includes multiple options for the Company to extend the lease which are not reasonably certain.

The adoption of ASC 842 resulted in recording a non-cash transitional adjustment to ROU assets and operating lease liabilities of $183,000 and $214,000, respectively, as of February 3, 2019. The difference between the ROU assets and operating lease liabilities at transition primarily represented existing deferred rent, tenant improvement allowances and prepaid rent of $14,200, $20,600 and $3,800, respectively, which were recorded as a component of the ROU asset in connection with the non-cash transitional adjustment. As a result of the adoption of ASC 842, the Company also recorded an increase to retained earnings of $9,300, net of tax, as of February 3, 2019, in relation to the accelerated recognition of a deferred gain, and derecognition of the related deferred tax asset, which the Company was amortizing relating to the historical sales of owned properties it currently leases.

As of November 2, 2019, ROU assets recorded for operating leases were $211,957 and accumulated amortization associated with operating leases was $22,571. In the 13 and 39 weeks ended November 2, 2019, the Company recorded a non-cash increase of $34,215 and $48,737, respectively, to ROU assets and operating lease liabilities resulting from lease remeasurements from the exercise of lease extension options, acquired leases, and new leases added.

The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

In accordance with ASC 842, total lease expense, including common area maintenance (CAM), recorded during the 13 and 39 weeks ended November 2, 2019 was $14,666 and $43,480, respectively.

In accordance with ASC 842, other information related to leases was as follows:


	Thirty-Nine Weeks Ended
	November 2,
	2019
Operating cash flows from operating leases	$	(36,300)
Cash paid for amounts included in the measurement of lease liabilities - operating leases		(36,300)

	As of November 2,
	2019

Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities	$	48,737
Weighted-average remaining lease term - operating leases		5.52
Weighted-average discount rate - operating leases		7.90%

In accordance with ASC 842, maturities of operating lease liabilities as of November 2, 2019 were as follows:


	Operating
Year Endings:	Leases
2019 (remainder)	$	17,661
2020		53,217
2021		49,980
2022		45,801
2023		40,795
Thereafter		112,573
Undiscounted cash flows	$	320,027
Reconciliation of lease liabilities:
Present values	$	240,139
Lease liabilities - current		35,451
Lease liabilities - noncurrent		204,688
Lease liabilities - total	$	240,139
Difference between undiscounted and discounted cash flows	$	79,888

In accordance with ASC 840, rent expense for operating leases consisted of the following:


	Thirteen Weeks Ended
	November 3,
	2018
Operating lease expense	$	13,974
Total lease expense		13,974

	Thirty-Nine Weeks Ended
	November 3,
	2018
Operating lease expense	$	40,448
Total lease expense		40,448

In accordance with ASC 840, future minimum lease payments under non-cancelable leases as of February 2, 2019 were as follows:


	Operating
Year Endings:	Leases
2019	$	47,551
2020		46,824
2021		43,070
2022		38,160
2023		33,246
Thereafter		74,821
Total minimum lease payments	$	283,672