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

Leases (Tables)

12 Months Ended

Jan. 28, 2023

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


	Year Ended
(in millions)	January 28, 2023		January 29, 2022		January 30, 2021
Operating lease cost	$	1,652.8	$	1,602.8	$	1,551.2
Variable lease cost	428.8		417.8		391.4
Short-term lease cost	10.8		5.6		9.7
Total lease cost*	$	2,092.4	$	2,026.2	$	1,952.3

*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 28, 2023		January 29, 2022		January 30, 2021
Weighted-average remaining lease term (years)	5.7		5.9		6.1
Weighted-average discount rate	3.6	%	3.4	%	3.9	%

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


	Year Ended
(in millions)	January 28, 2023		January 29, 2022		January 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,559.7	$	1,579.8	$	1,519.4

As of January 28, 2023, maturities of lease liabilities were as follows:


	(in millions)
2023	$	1,657.7
2024	1,462.8
2025	1,232.0
2026	994.0
2027	733.0
Thereafter	1,358.6
Total undiscounted lease payments	7,438.1
Less interest	733.2
Present value of lease liabilities	$	6,704.9