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

Leases (Tables)

12 Months Ended

Jan. 30, 2021

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


	Year Ended
(in millions)	January 30, 2021		February 1, 2020
Operating lease cost	$	1,551.2	$	1,520.5
Variable lease cost	391.4		375.9
Short-term lease cost	9.7		14.8
Total lease cost*	$	1,952.3	$	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 is as follows:


	January 30, 2021		February 1, 2020
Weighted-average remaining lease term (years)	6.1		6.4
Weighted-average discount rate	3.9	%	4.3	%

The following represents supplemental information pertaining to our operating lease arrangements:


	Year Ended
(in millions)	January 30, 2021		February 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,519.4	$	1,433.4
Right-of-use assets obtained in exchange for new operating lease liabilities	1,440.2		1,286.1

As of January 30, 2021, maturities of lease liabilities were as follows:


	(in millions)
2021	$	1,467.5
2022	1,372.0
2023	1,159.0
2024	939.9
2025	706.3
Thereafter	1,578.0
Total undiscounted lease payments	7,222.7
Less interest	809.0
Present value of lease liabilities	$	6,413.7