Note 5—Leases The tables below present information regarding the Company's lease assets and liabilities: | | | | | | | | February 16,
2020 | Assets | | | Operating lease right-of-use assets | | $ | 2,596 |
| Finance lease assets(1) | | 523 |
| Total lease assets | | $ | 3,119 |
| Liabilities | | | Current | | | Operating(2) | | $ | 168 |
| Finance(2) | | 18 |
| Long-term | | | Operating | | 2,446 |
| Finance(3) | | 544 |
| Total lease liabilities | | $ | 3,176 |
|
_______________ | | (1) | Included in net property and equipment in the accompanying condensed consolidated balance sheets. |
| | (2) | Included in other current liabilities in the accompanying condensed consolidated balance sheets. |
| | (3) | Included in other long-term liabilities in the accompanying condensed consolidated balance sheets. |
| | | | | | | February 16,
2020 | Weighted-average remaining lease term (years) | | | Operating leases | | 22 |
| Finance leases | | 19 |
| Weighted-average discount rate | | | Operating leases | | 2.24 | % | Finance leases | | 7.24 | % |
The components of lease expense, excluding short-term lease costs and sublease income which were not material, were as follows: | | | | | | | | | | | | 12 Weeks Ended | | 24 Weeks Ended | | | February 16,
2020 | | February 16,
2020 | Operating lease costs(1) | | $ | 51 |
| | $ | 102 |
| Finance lease costs: | | | | | Amortization of lease assets(1) | | 4 |
| | 8 |
| Interest on lease liabilities(2) | | 8 |
| | 15 |
| Variable lease costs(3) | | 22 |
| | 36 |
| Total lease costs | | $ | 85 |
| | $ | 161 |
|
_______________ | | (1) | Generally included in selling, general and administrative expenses in the accompanying condensed consolidated statements of income. |
| | (2) | Included in interest expense in the accompanying condensed consolidated statements of income. |
| | (3) | Included in selling, general and administrative expenses and merchandise costs in the accompanying condensed consolidated statements of income. Amount excludes property taxes, which were immaterial. |
Supplemental cash flow information related to leases was as follows: | | | | | | | | 24 Weeks Ended | | | February 16,
2020 | Cash paid for amounts included in the measurement of lease liabilities: | | | Operating cash flows — operating leases | | $ | 93 |
| Operating cash flows — finance leases | | 15 |
| Financing cash flows — finance leases | | 34 |
| Leased assets obtained in exchange for operating lease liabilities | | 47 |
| Leased assets obtained in exchange for finance lease liabilities | | 167 |
|
As of February 16, 2020, future minimum payments during the next five fiscal years and thereafter are as follows: | | | | | | | | | | Operating Leases(1) | | Finance Leases | 2020 | $ | 120 |
| | $ | 23 |
| 2021 | 220 |
| | 47 |
| 2022 | 212 |
| | 47 |
| 2023 | 219 |
| | 51 |
| 2024 | 194 |
| | 47 |
| Thereafter | 2,462 |
| | 723 |
| Total(2) | 3,427 |
| | 938 |
| Less amount representing interest | 813 |
| | 376 |
| Present value of lease liabilities | $ | 2,614 |
| | $ | 562 |
|
_______________ | | (1) | Operating lease payments have not been reduced by future sublease income of $101. |
| | (2) | Excludes $185 of lease payments for leases that have been signed but not commenced. |
As of September 1, 2019, future minimum payments, net of sub-lease income of $105, under noncancelable operating leases with terms of at least one year and capital leases reported under ASC 840 were as follows: | | | | | | | | | | Operating Leases | | Capital Leases | 2020 | $ | 239 |
| | $ | 51 |
| 2021 | 229 |
| | 53 |
| 2022 | 202 |
| | 38 |
| 2023 | 193 |
| | 39 |
| 2024 | 181 |
| | 39 |
| Thereafter | 2,206 |
| | 544 |
| Total | $ | 3,250 |
| | 764 |
| Less amount representing interest |
| | 343 |
| Net present value of minimum lease payments |
| | $ | 421 |
|
|