Leases (Tables)

9 Months Ended

Oct. 29, 2022

The following table presents components of lease expense (in thousands):

	Three Months Ended				Nine Months Ended
	October 29, 2022		October 30, 2021		October 29, 2022		October 30, 2021
Operating lease expense	$	18,591	$	17,727	$	55,349	$	55,114
Variable lease expense		1,905		2,467		5,680		6,235
Total lease expense (1)	$	20,496	$	20,194	$	61,029	$	61,349

(1)

Total lease expense includes short-term lease expense and sublease income which is immaterial to the Company. Total lease expense does not include right-of-use asset impairment charges, common area maintenance charges and other non-lease components.

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows (in thousands):

	Nine Months Ended
	October 29, 2022			October 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(56,796	)	$	(59,099	)
Right-of-use assets obtained in exchange for new operating lease liabilities		49,331			31,458

Schedule of Weighted-Average Remaining Lease Term and Discount Rate

Weighted-average remaining lease term and discount rate were as follows:

	October 29, 2022			October 30, 2021
Weighted-average remaining lease term		5.0			5.2
Weighted-average discount rate		2.5	%		2.7	%

Schedule of Maturities of Operating Leases Liabilities

At October 29, 2022, the maturities of our operating leases liabilities are as follows (in thousands):

Fiscal 2022	$	15,927
Fiscal 2023		72,231
Fiscal 2024		56,910
Fiscal 2025		40,265
Fiscal 2026		28,145
Thereafter		55,366
Total minimum lease payments		268,844
Less: interest		(14,790	)
Present value of lease obligations		254,054
Less: current portion		(65,236	)
Long-term lease obligations (1)	$	188,818

(1)

Amounts in the table do not include contingent rent, common area maintenance charges and other non-lease components.