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Quarterly report pursuant to Section 13 or 15(d)

LEAߣ¹ÜÍøÕ¾S

v3.21.2
LEAߣ¹ÜÍøÕ¾S
 3 Months Ended
Jul. 03, 2021
Leases [Abstract] Ìý
LEAߣ¹ÜÍøÕ¾S LEAߣ¹ÜÍøÕ¾S
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and impairment. Components of lease cost were as follows:
Three Months Ended June
(In thousands) 2021 2020
Operating lease cost $ 113,500Ìý $ 108,852Ìý
Other lease costs 27,939Ìý 14,998Ìý
Total lease cost $ 141,439Ìý $ 123,850Ìý
During the three months ended June 2021 and 2020, the Company paid $119.4 million and $65.0 million of cash for operating leases, respectively. The increase was primarily driven by the timing of payments and lease concessions related to the effects of COVID-19 in the three months ended June 2020. During the three months ended June 2021 and 2020, the Company obtained $52.3 million and $190.2 million of right-of-use assets in exchange for lease liabilities, respectively. The decrease was primarily driven by the commencement of a new distribution center lease during the three months ended June 2020.
LEAߣ¹ÜÍøÕ¾S LEAߣ¹ÜÍøÕ¾S
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and impairment. Components of lease cost were as follows:
Three Months Ended June
(In thousands) 2021 2020
Operating lease cost $ 113,500Ìý $ 108,852Ìý
Other lease costs 27,939Ìý 14,998Ìý
Total lease cost $ 141,439Ìý $ 123,850Ìý
During the three months ended June 2021 and 2020, the Company paid $119.4 million and $65.0 million of cash for operating leases, respectively. The increase was primarily driven by the timing of payments and lease concessions related to the effects of COVID-19 in the three months ended June 2020. During the three months ended June 2021 and 2020, the Company obtained $52.3 million and $190.2 million of right-of-use assets in exchange for lease liabilities, respectively. The decrease was primarily driven by the commencement of a new distribution center lease during the three months ended June 2020.