Dollar Tree, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

Leases (Tables)

12 Months Ended

Feb. 01, 2020

The lease cost for operating leases that was recognized in the accompanying consolidated statements of operations was as follows:



	Year Ended
(in millions)	February 1, 2020
Operating lease cost	$	1,520.5
Variable lease cost	375.9
Short-term lease cost	14.8
Total lease cost*	$	1,911.2

*Excludes sublease income, which is immaterial

Information regarding the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of February 1, 2020 is as follows:



Weighted-average remaining lease term (years)	6.4
Weighted-average discount rate	4.3	%

The following represents supplemental information pertaining to the Company’s operating lease arrangements:



	Year Ended
(in millions)	February 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,433.4
Right-of-use assets obtained in exchange for new operating lease liabilities	1,286.1

Maturities of lease liabilities

As of February 1, 2020, maturities of lease liabilities were as follows:



	(in millions)
2020	$	1,421.4
2021	1,325.4
2022	1,124.8
2023	902.2
2024	685.8
Thereafter	1,760.3
Total undiscounted lease payments	7,219.9
Less interest	961.1
Present value of lease liabilities	$	6,258.8

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