v3.26.1
Leases (Tables)
12 Months Ended
Jan. 31, 2026
Leases [Abstract]  
Schedule of Supplemental Cash Flow Information for Leases
The weighted average lease term and discount rate for the Company’s outstanding operating leases as of January 31, 2026 and February 1, 2025 were as follows:
January 31, 2026February 1, 2025
Weighted average remaining lease term6.4 years6.7 years
Weighted average discount rate6.1 %6.2 %
The following table provides supplemental cash flow information related to the Company’s leases for Fiscal 2026, Fiscal 2025 and Fiscal 2024:
(in millions)Fiscal 2026Fiscal 2025Fiscal 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$411.9 $407.1 $438.0 
Operating lease ROU assets obtained in exchange for lease obligations218.7 320.1 235.2 
Reduction in the carrying amount of ROU assets (1)
319.4 309.1 316.5 
(1) Excludes net ROU asset impairment charges of $2.0 million, $2.0 million, and $2.7 million during Fiscal 2026, Fiscal 2025, and Fiscal 2024, respectively, as further described in Note 14.
Schedule of Total Lease Costs For Operating Leases
The following table provides the components of total lease cost for Fiscal 2026, Fiscal 2025 and Fiscal 2024:
(in millions)Fiscal 2026Fiscal 2025Fiscal 2024
Operating lease cost$396.3 $387.6 $391.9 
Short-term lease cost32.7 46.7 47.9 
Variable lease cost103.1 103.7 108.9 
Sublease income(1.2)(1.3)(0.6)
Total lease cost$530.9 $536.7 $548.1 
Schedule of Future Minimum Operating Lease Payments
The future minimum operating lease commitments for operating leases having initial or non-cancelable terms in excess of one year are as follows:
(in millions)January 31, 2026
Fiscal 2027
$373.4 
Fiscal 2028
317.2 
Fiscal 2029
247.6 
Fiscal 2030
147.4 
Fiscal 2031
98.5 
Thereafter334.0 
Total minimum lease payments$1,518.1 
Less: Imputed interest(300.8)
Present value of lease liabilities$1,217.3