v3.24.1.1.u2
Leases (Tables)
 3 Months Ended
May 04, 2024
Leases [Abstract]  
Maturity of Operating Lease Liabilities
The following table summarizes the maturity of the Company’s operating lease liabilities by fiscal year as of May 4 , 2024:

    May 4,  
   
2024
  
    (in thousands)
  
Remainder of 2024
  
$
79,819
  
2025
    
96,603
  
2026
    
92,465
  
2027
    
80,248
  
2028
    
63,788
  
Thereafter
    
142,158
  
Total undiscounted lease payments (1)
    
555,081
  
Less:  Imputed interest
    
(69,927
)
Total lease obligations
    
485,154
  
Less:  Current obligations under leases
    
(89,607
)
Long-term lease obligations
  
$
395,547
  

(1)
Lease obligations exclude $40.7 million of minimum lease payments for leases signed, but not commenced.
Other Information Related to Operating Leases
The following table summarizes other information related to the Company’s operating leases as of and for the respective periods:

 
Thirteen weeks ended
  
    May 4,     April 29,  
   
2024
    
2023
  
    (dollars in thousands)
  
Cash paid for operating leases
  
$
28,167
    
$
25,344
  
Operating lease cost
    
27,241
      
24,888
  
Variable lease cost
    
3,846
      
2,835
  
Non-cash right-of-use assets obtained in exchange for lease obligations
    
7,022
      
12,273
  
Weighted-average remaining lease term
  
6.4 years
    
6.3 years
  
Weighted-average discount rate
    
4.0
%
    
3.5
%