XML 27 R12.htm IDEA: XBRL DOCUMENT
v3.22.1

Leases | 12 Months Ended
--- | ---
Jan. 29, 2022
Leases |
Leases | (6) Leases At the inception of the lease, the Company’s operating leases have remaining certain lease terms of up to 15 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 lease 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. In the fiscal year ended January 29, 2022, the Company recorded a non-cash increase of $39,437, 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 was comprised of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Fiscal Year Ended
​ | January 29, | ​ | January 30, | ​ | February 1,
​ | 2022 |  | 2021 | ​ | 2020
Operating lease expense | $ | 56,293 | ​ | $ | 51,948 | ​ | $ | 45,760
Variable lease expense | ​ | 17,252 | ​ | ​ | 15,376 | ​ | ​ | 13,806
Short-term lease expense | ​ | 1,325 | ​ | ​ | 688 | ​ | ​ | 280
Total lease expense | $ | 74,870 | ​ | $ | 68,012 | ​ | $ | 59,846
​ In accordance with ASC 842, other information related to leases was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year Ended
​ | ​ | January 29, | ​ | January 30, | ​ | February 1,
​ |  | 2022 |  | 2021 | ​ | 2020
Operating cash flows from operating leases | ​ | $ | (59,502) | ​ | $ | (55,765) | ​ | $ | (49,713)
Cash paid for lease liabilities - operating leases | ​ | ​ | (59,502) | ​ | ​ | (55,765) | ​ | ​ | (49,713)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of January 29, | ​ | As of January 30, | ​ | As of February 1,
​ |  | 2022 |  | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities | ​ | $ | 39,437 | ​ | $ | 39,119 | ​ | $ | 66,095
Terminated right-of-use assets and liabilities | ​ | ​ | — | ​ | ​ | (2,947) | ​ | ​ | —
Weighted-average remaining lease term - operating leases | ​ | ​ | 5.83 | ​ | ​ | 6.09 | ​ | ​ | 6.26
Weighted-average discount rate - operating leases | ​ | ​ | 8.29% | ​ | ​ | 8.35% | ​ | ​ | 8.00%
​ In accordance with ASC 842, maturities of operating lease liabilities as of January 29, 2022 were as follows: ​
​ | ​ | ​ | ​
​ | ​ | Operating
Year Endings: | Leases
2022 | ​ | $ | 63,061
2023 | ​ | ​ | 59,231
2024 | ​ | ​ | 50,555
2025 | ​ | ​ | 43,995
2026 | ​ | ​ | 38,830
Thereafter | ​ | ​ | 128,633
Undiscounted cash flows | ​ | $ | 384,305
Reconciliation of lease liabilities: | ​ | ​ | ​
Present values | ​ | $ | 277,151
Lease liabilities - current | ​ | ​ | 40,924
Lease liabilities - noncurrent | ​ | ​ | 236,227
Lease liabilities - total | ​ | $ | 277,151
Difference between undiscounted and discounted cash flows | ​ | $ | 107,154
​ The Company has excluded in the table above approximately $21.7 million of leases (undiscounted basis) that were entered into as of March 30, 2022. These leases will commence in 2022 with lease terms of 10 years.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration