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)

9 Months Ended

Nov. 02, 2019

The following represents supplemental information pertaining to the Company’s operating lease arrangements for the 13 and 39 weeks ended November 2, 2019:



	13 Weeks Ended		39 Weeks Ended
(in millions)	November 2, 2019		November 2, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	367.5	$	1,099.1
Right-of-use assets obtained in exchange for new operating lease liabilities	163.9		593.2

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



	13 Weeks Ended		39 Weeks Ended
(in millions)	November 2, 2019		November 2, 2019
Operating lease cost	$	378.2	$	1,139.8
Variable lease cost	94.7		272.2
Total lease cost*	$	472.9	$	1,412.0

*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 November 2, 2019 is as follows:



Weighted-average remaining lease term (years)	6.5
Weighted-average discount rate	4.4	%

Maturities of lease liabilities

As of November 2, 2019, maturities of lease liabilities were as follows:



	(in millions)
Remainder of 2019	$	249.0
2020	1,376.2
2021	1,190.9
2022	990.6
2023	771.9
Thereafter	2,215.4
Total undiscounted lease payments	6,794.0
Less interest	955.4
Present value of lease liabilities	$	5,838.6

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