Leases

12 Months Ended

Jan. 31, 2026

The Company’s leases primarily include facility leases and hosting/data center leases, which are all classified as operating leases. For hosting/data center leases, the Company elected the practical expedient to account for the lease and non-lease component as a single lease component.

Lease expense and supplemental cash flow information are as follows (in millions):


	Year Ended
	January 31, 2026		February 1, 2025		February 3, 2024
Operating lease expense	$	72.2	$	58.2	$	62.0
Cash paid for amounts included in the measurement of operating lease liabilities	$	58.8	$	49.7	$	53.5
Right-of-use assets obtained in exchange for lease obligations	$	83.8	$	80.9	$	34.1

The effect of operating lease right-of-use asset amortization of $44.4 million, $34.3 million and $37.2 million is included in Other expense, net in the cash provided by operating activities section on the consolidated statements of cash flows for the years ended January 31, 2026, February 1, 2025, and February 3, 2024, respectively.

The aggregate future lease payments for operating leases as of January 31, 2026 are as follows (in millions):


Fiscal Year	Operating Leases		Sublease Income
2027	69.5		5.9
2028	57.3		4.1
2029	48.3		2.2
2030	48.4		2.3
2031	42.1		1.8
Thereafter	114.8		—
Total lease payments	380.4		16.3
Less: imputed interest	60.7
Present value of lease liabilities	$	319.7

Average lease terms and discount rates were as follows:



	January 31, 2026		February 1, 2025
Weighted-average remaining lease term (years)	7.0		7.0
Weighted-average discount rate	4.6	%	4.6	%