Dollar Tree, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

6 Months Ended

Aug. 03, 2019

The following represents supplemental information pertaining to the Company’s operating lease arrangements for the 13 and 26 weeks ended August 3, 2019:



	13 Weeks Ended		26 Weeks Ended
(in millions)	August 3, 2019		August 3, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	364.4	$	731.6
Right-of-use assets obtained in exchange for new operating lease liabilities	213.9		429.3

The lease cost for operating leases that was recognized in the accompanying unaudited condensed consolidated income statements was as follows:



	13 Weeks Ended		26 Weeks Ended
(in millions)	August 3, 2019		August 3, 2019
Operating lease cost	$	380.2	$	761.6
Variable lease cost	92.1		177.5
Total lease cost*	$	472.3	$	939.1

*Excludes short-term lease cost and sublease income, which are immaterial

Information regarding the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of August 3, 2019 is as follows:



Weighted-average remaining lease term (years)	6.6
Weighted-average discount rate	4.4	%

Maturities of lease liabilities

As of August 3, 2019, maturities of lease liabilities were as follows:



	(in millions)
Remainder of 2019	$	617.3
2020	1,352.6
2021	1,165.5
2022	964.3
2023	745.4
Thereafter	2,121.7
Total undiscounted lease payments	6,966.8
Less interest	984.4
Present value of lease liabilities	$	5,982.4

Future minimum lease payments in accordance with ASC 840

As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended February 2, 2019 and in accordance with ASC 840, future minimum lease payments under non-cancellable operating leases were as follows as of February 2, 2019:



	(in millions)
2019	$	1,435.9
2020	1,176.7
2021	1,100.0
2022	899.6
2023	729.1
Thereafter	1,966.3
Total minimum lease payments	$	7,307.6