XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.22.1

Leases | 3 Months Ended
--- | ---
Apr. 30, 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 Company determines whether a contract is or contains a lease at contract inception. As the rate implicit in the lease is not readily determinable in most of the Company’s leases, it uses its incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. The Company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The operating lease asset also includes any fixed lease payments made and includes lease incentives and incurred initial direct costs. Operating lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. The Company’s lease terms may include options to extend or terminate the lease. Additionally, the Company’s leases do not contain any material residual guarantees or material restrictive covenants. In the 13 weeks ended April 30, 2022, the Company recorded a non-cash increase of $6,378 to the right of use 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:
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Thirteen Weeks Ended
​ | April 30, | ​ | May 1,
​ | 2022 |  | 2021
Operating lease expense | $ | 14,395 | ​ | $ | 13,866
Variable lease expense | ​ | 4,302 | ​ | ​ | 4,275
Short-term lease expense | ​ | 270 | ​ | ​ | 257
Total lease expense | $ | 18,967 | ​ | $ | 18,398
​ In accordance with ASC 842, other information related to leases was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen Weeks Ended
​ | ​ | April 30, | ​ | May 1,
​ |  | 2022 |  | 2021
Operating cash flows from operating leases | ​ | $ | (15,520) | ​ | $ | (14,561)
Cash paid for lease liabilities - operating leases | ​ | ​ | (15,520) | ​ | ​ | (14,561)
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of April 30, | ​ | As of May 1,
​ |  | 2022 |  | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​
Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities | ​ | $ | 6,378 | ​ | $ | 5,559
Terminated right-of-use assets and liabilities | ​ | ​ | — | ​ | ​ | —
Weighted-average remaining lease term - operating leases | ​ | ​ | 5.66 | ​ | ​ | 5.96
Weighted-average discount rate - operating leases | ​ | ​ | 8.21% | ​ | ​ | 8.39%
​ In accordance with ASC 842, maturities of operating lease liabilities as of April 30, 2022 were as follows: ​
​ | ​ | ​ | ​
​ | ​ | Operating
Year Endings: | Leases
2022 (remainder) | ​ | $ | 47,761
2023 | ​ | ​ | 60,016
2024 | ​ | ​ | 51,513
2025 | ​ | ​ | 44,953
2026 | ​ | ​ | 39,789
Thereafter | ​ | ​ | 133,835
Undiscounted cash flows | ​ | $ | 377,867
Reconciliation of lease liabilities: | ​ | ​ | ​
Present values | ​ | $ | 274,310
Lease liabilities - current | ​ | ​ | 41,697
Lease liabilities - noncurrent | ​ | ​ | 232,613
Lease liabilities - total | ​ | $ | 274,310
Difference between undiscounted and discounted cash flows | ​ | $ | 103,557
​ ​ The Company has excluded in the table above approximately $24.0 million of leases (undiscounted basis) that were entered into as of June 1, 2022. These leases will commence in 2022 and 2023 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