4.Leases

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As of May 2, 2025, the Company’s primary leasing activities were real estate leases for most of its retail store locations and certain of its distribution facilities. Substantially all of the Company’s leases are classified as operating leases, and the associated assets and liabilities are presented as separate captions in the consolidated balance sheets. Finance lease assets are included in net property and equipment, and finance lease liabilities are included in long-term obligations, in the consolidated balance sheets. At May 2, 2025, the weighted-average remaining lease term for the Company’s operating leases was 9.3 years, and the weighted average discount rate for such leases was 4.6%. Operating lease costs are reflected as selling, general and administrative costs in the consolidated statements of income. For the 13-week periods ended May 2, 2025 and May 3, 2024, such costs were $487.9 million and $459.8 million, respectively. Cash paid for amounts included in the measurement of operating lease liabilities of $494.7 million and $466.7 million, respectively, were reflected in cash flows from operating activities in the consolidated statements of cash flows for the 13-week periods ended May 2, 2025 and May 3, 2024.