v3.20.1
Leases
12 Months Ended
Feb. 01, 2020
Leases [Abstract]  
Leases Leases
Effect of the Adoption of the New Lease Standard
Effective February 3, 2019, the Company adopted the new lease accounting standard using the modified retrospective approach. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allows the Company to carry forward the historical lease classification. The Company elected to apply the short-term lease measurement and recognition exemption in which ROU assets and lease liabilities are not recognized for short-term leases. Adoption of this standard resulted in the recording of net operating lease ROU assets and corresponding operating lease liabilities of $125 million and $149 million, respectively. The net ROU asset includes the effect of reclassifying a portion of facilities-related restructuring reserves as an offset in accordance with the transition guidance. The standard did not materially affect the condensed consolidated statements of operations and had no impact on cash flows.
The Company's leases include facility leases and data center leases, which are all classified as operating leases. For data center leases, the Company elected the practical expedient to account for the lease and non-lease component as a single lease component.

Lease expense and supplemental cash flow information are as follows (in thousands):

Year Ended February 1, 2020
Operating lease expense$49,679  
Cash paid for amounts included in the measurement of operating lease liabilities$33,161  
Right-of-use assets obtained in exchange for lease obligation$28,928  

The effect of operating lease right-of-use asset amortization of $20.4 million is included in changes in Other expense(income), net in the cash provided by operating activities section on the Statement of Cash Flows for the fiscal year ended February 1, 2020.
Supplemental balance sheet information related to leases are as follows (in thousands):

Classification on the Condensed Consolidated Balance SheetFebruary 1, 2020
Right-of-use assetsOther non-current assets$110,907  
         Current portion of lease liabilitiesAccrued liabilities28,662  
         Non-current portion of lease liabilitiesOther non-current liabilities115,778  
Total lease liabilities$144,440  

The aggregate future lease payments for operating leases as of February 1, 2020 are as follows (in thousands):

Fiscal YearOperating LeasesSublease Income
2021$35,272  $(3,420) 
202235,753  (3,253) 
202328,932  (3,350) 
202419,575  (3,451) 
202512,791  (3,554) 
Thereafter34,015  (9,364) 
Total lease payments166,338  (26,392) 
         Less: imputed interest21,898  
Present value of lease liabilities$144,440  
As previously disclosed in our Annual Report on Form 10-K for the year ended February 2, 2019 and under the previous lease accounting standard, the aggregate future non-cancelable minimum rental payments of our operating leases, as of February 2, 2019, are as follows (in thousands):

Fiscal YearOperating Leases
2020$43,286  
202129,866  
202226,612  
202321,272  
202413,690  
Thereafter40,100  
Total$174,826  

Average lease terms and discount rates were as follows:

Year Ended February 1, 2020
Weighted-average remaining lease term (years)5.52
Weighted-average discount rate3.85%