Ulta Beauty, 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

Jan. 29, 2022

Schedule of weighted-average remaining lease term and discount rate for operating leases

The following table presents supplemental balance sheet information, the weighted-average remaining lease term, and discount rate for operating leases:



		January 29,		January 30,
(In thousands)	Classification on the Balance Sheet	2022		2021
Right-of-use assets	Operating lease assets	$	1,482,256	$	1,504,614

Current lease liabilities	Current operating lease liabilities	$	274,118	$	253,415
Non-current lease liabilities	Non-current operating lease liabilities		1,572,638		1,643,386
Total lease liabilities		$	1,846,756	$	1,896,801

Weighted-average remaining lease term			6.6 years		6.9 years
Weighted-average discount rate			3.3%		3.6%

Schedule of cash flow information related to operating leases

The following table presents supplemental disclosures of cash flow information related to operating leases:


	Fiscal Year Ended
	January 29,		January 30,		February 1,
(In thousands)	2022		2021		2020
Cash paid for operating lease liabilities (1)	$	368,498	$	354,133	$	338,942
Operating lease assets obtained in exchange for operating lease liabilities (non-cash)		253,870		255,966		355,286

(1)

Excludes $28,591, $33,092, and $71,294 related to cash received for tenant incentives as of January 29, 2022, January 30, 2021, and February 1, 2020, respectively.

Schedule of maturities of operating lease liabilities

The following table presents maturities of operating lease liabilities:


Fiscal year	(In thousands)
2022	$	330,260
2023		349,856
2024		318,507
2025		289,025
2026		250,945
2027 and thereafter		517,798
Total lease payments	$	2,056,391
Less: imputed interest		(209,635)
Present value of operating lease liabilities	$	1,846,756