0001318484 ctrn:COVID19Member 2022-01-30 2022-04-30 0001318484 2022-03-15 0001318484 us-gaap:TreasuryStockMember 2022-01-30 2022-04-30 0001318484 us-gaap:TreasuryStockMember 2021-01-31 2021-05-01 0001318484 us-gaap:RetainedEarningsMember 2022-04-30 0001318484 us-gaap:AdditionalPaidInCapitalMember 2022-04-30 0001318484 us-gaap:RetainedEarningsMember 2022-01-29 0001318484 us-gaap:AdditionalPaidInCapitalMember 2022-01-29 0001318484 us-gaap:RetainedEarningsMember 2021-05-01 0001318484 us-gaap:AdditionalPaidInCapitalMember 2021-05-01 0001318484 us-gaap:RetainedEarningsMember 2021-01-30 0001318484 us-gaap:AdditionalPaidInCapitalMember 2021-01-30 0001318484 us-gaap:CommonStockMember 2021-01-31 2021-05-01 0001318484 ctrn:DistributionCenterDarlingtonSouthCarolinaMember 2022-04-30 0001318484 us-gaap:RetainedEarningsMember 2022-01-30 2022-04-30 0001318484 us-gaap:RetainedEarningsMember 2021-01-31 2021-05-01 0001318484 us-gaap:LineOfCreditMember 2022-04-30 0001318484 us-gaap:LetterOfCreditMember 2022-04-30 0001318484 us-gaap:LineOfCreditMember 2020-05-12 2020-05-12 0001318484 us-gaap:LineOfCreditMember 2011-10-27 0001318484 srt:MinimumMember 2022-04-30 0001318484 srt:MaximumMember 2022-04-30 0001318484 2022-01-30 2023-01-28 0001318484 2021-01-31 2022-01-29 0001318484 us-gaap:LineOfCreditMember 2011-10-27 2011-10-27 0001318484 ctrn:ScenarioTwoMember us-gaap:LineOfCreditMember us-gaap:EurodollarMember 2020-05-12 2020-05-12 0001318484 ctrn:ScenarioTwoMember us-gaap:LineOfCreditMember us-gaap:BaseRateMember 2020-05-12 2020-05-12 0001318484 ctrn:ScenarioThreeMember us-gaap:LineOfCreditMember us-gaap:EurodollarMember 2020-05-12 2020-05-12 0001318484 ctrn:ScenarioThreeMember us-gaap:LineOfCreditMember us-gaap:BaseRateMember 2020-05-12 2020-05-12 0001318484 ctrn:ScenarioOneMember us-gaap:LineOfCreditMember us-gaap:EurodollarMember 2020-05-12 2020-05-12 0001318484 ctrn:ScenarioOneMember us-gaap:LineOfCreditMember us-gaap:BaseRateMember 2020-05-12 2020-05-12 0001318484 us-gaap:LineOfCreditMember us-gaap:FederalFundsEffectiveSwapRateMember 2020-05-12 2020-05-12 0001318484 us-gaap:TreasuryStockMember 2022-04-30 0001318484 us-gaap:CommonStockMember 2022-04-30 0001318484 us-gaap:TreasuryStockMember 2022-01-29 0001318484 us-gaap:CommonStockMember 2022-01-29 0001318484 us-gaap:TreasuryStockMember 2021-05-01 0001318484 us-gaap:CommonStockMember 2021-05-01 0001318484 us-gaap:TreasuryStockMember 2021-01-30 0001318484 us-gaap:CommonStockMember 2021-01-30 0001318484 2021-05-01 0001318484 2021-01-30 0001318484 us-gaap:RestrictedStockMember 2022-01-30 2022-04-30 0001318484 us-gaap:RestrictedStockMember 2021-01-31 2021-05-01 0001318484 us-gaap:AdditionalPaidInCapitalMember 2022-01-30 2022-04-30 0001318484 us-gaap:AdditionalPaidInCapitalMember 2021-01-31 2021-05-01 0001318484 2022-01-29 0001318484 2022-05-20 0001318484 ctrn:DistributionCenterDarlingtonSouthCarolinaMember 2022-04-01 2022-04-30 0001318484 ctrn:MensApparelMember 2022-01-30 2022-04-30 0001318484 ctrn:LadiesApparelMember 2022-01-30 2022-04-30 0001318484 ctrn:HomeAndLifestyleProductLineMember 2022-01-30 2022-04-30 0001318484 ctrn:FootwearApparelMember 2022-01-30 2022-04-30 0001318484 ctrn:ChildrensApparelMember 2022-01-30 2022-04-30 0001318484 ctrn:AccessoriesAndBeautyProductLineMember 2022-01-30 2022-04-30 0001318484 ctrn:MensApparelMember 2021-01-31 2021-05-01 0001318484 ctrn:LadiesApparelMember 2021-01-31 2021-05-01 0001318484 ctrn:HomeAndLifestyleProductLineMember 2021-01-31 2021-05-01 0001318484 ctrn:FootwearApparelMember 2021-01-31 2021-05-01 0001318484 ctrn:ChildrensApparelMember 2021-01-31 2021-05-01 0001318484 ctrn:AccessoriesAndBeautyProductLineMember 2021-01-31 2021-05-01 0001318484 us-gaap:CommonStockMember 2022-01-30 2022-04-30 0001318484 us-gaap:LineOfCreditMember 2020-05-12 0001318484 2022-04-30 0001318484 2022-01-30 2022-04-30 0001318484 2021-01-31 2021-05-01 0001318484 2020-05-12 2020-05-12 0001318484 us-gaap:LineOfCreditMember us-gaap:EurodollarMember 2020-05-12 2020-05-12 pure ctrn:agreement shares iso4217:USD ctrn:period iso4217:USD shares ctrn:state ctrn:store

http://fasb.org/us-gaap/2021-01-31#ProductMember

0001318484 --01-28 2022 Q1 false

http://fasb.org/us-gaap/2021-01-31#ProductMember

P1Y

10-Q true 2022-04-30 false 000-51315 CITI TRENDS, INC. DE 52-2150697 104 Coleman Boulevard Savannah GA 31408 912 236-1561 Common Stock, $0.01 par value CTRN NASDAQ Yes Yes Accelerated Filer false false false 8395402

61657000

49788000

129715000

123835000

16354000

14997000

3987000

207726000

192607000

268982000

283445000

68213000

75282000

241686000

201827000

4316000

2992000

1287000

1317000

523228000

474025000

87857000

98879000

46910000

47803000

22439000

14532000

11175000

25896000

6713000

944000

364000

176038000

187474000

203856000

168304000

2155000

2104000

382049000

357882000

0.01

32000000

16159393

16090365

8515802

8617210

159000

101187000

101037000

302361000

272158000

7643591

7473155

262528000

257211000

141179000

116143000

523228000

474025000

208215000

285381000

127011000

163791000

71026000

77892000

5445000

4697000

34920000

39653000

39001000

4000

76000

47000

39577000

38958000

9374000

8061000

30203000

30897000

3.59

3.27

3.59

3.23

8407000

9450000

8407000

9571000

30203000

30897000

5445000

4697000

12468000

12210000

-53000

-1324000

1054000

794000 451000

2277000

1087000

34920000

6493000

-1653000

1539000

1932000

-30000

402000

-11266000

24530000

-11113000

-8598000

-14721000

-11248000

10700000

6980000

580000

307000

-18879000

61739000

8012000

5936000

691000 191000

45513000

38192000

-5745000

270000

2127000

2155000

5317000

45470000

-7444000

-47895000

11869000

8099000

49788000

123177000

61657000

131276000

39000

32000

2000

-27000

1647000

1023000

16090365

159000

101037000

272158000

7473155

-257211000

116143000

1000

109157

15977

15761

2277000

40345

1000

2127000

2128000

170436

5317000

30203000

16159393

159000

101187000

302361000

7643591

-262528000

141179000

15981394

158000

95484000

209918000

6104493

-141926000

163634000

17278

3005

1087000

22666

2155000

537496

45470000

30897000

15973001

158000

94416000

240815000

6641989

-187396000

147993000

1. Significant Accounting PoliciesBasis of PresentationCiti Trends, Inc. and its subsidiary (the “Company”) is a growing specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and Latinx families. As of April 30, 2022, the Company operated 614 stores in urban, suburban and rural markets in 33 states.The condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim reporting and are unaudited. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The condensed consolidated balance sheet as of January 29, 2022 is derived from the audited financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended January 29, 2022 (the “2021 Form 10-K”). These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the 2021 Form 10-K. Operating results for the first quarter of 2022 are not necessarily indicative of the results that may be expected for the fiscal year as a result of the seasonality of the business, the current economic uncertainty and the extent to which future business will be impacted by the COVID-19 pandemic.Fiscal YearThe following contains references to fiscal years 2022 and 2021, which represent fiscal years ending or ended on January 28, 2023 and January 29, 2022, respectively. Fiscal 2022 and 2021 both have 52-week accounting periods.

Basis of PresentationCiti Trends, Inc. and its subsidiary (the “Company”) is a growing specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and Latinx families. As of April 30, 2022, the Company operated 614 stores in urban, suburban and rural markets in 33 states.The condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim reporting and are unaudited. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The condensed consolidated balance sheet as of January 29, 2022 is derived from the audited financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended January 29, 2022 (the “2021 Form 10-K”). These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the 2021 Form 10-K. Operating results for the first quarter of 2022 are not necessarily indicative of the results that may be expected for the fiscal year as a result of the seasonality of the business, the current economic uncertainty and the extent to which future business will be impacted by the COVID-19 pandemic.

614

Fiscal YearThe following contains references to fiscal years 2022 and 2021, which represent fiscal years ending or ended on January 28, 2023 and January 29, 2022, respectively. Fiscal 2022 and 2021 both have 52-week accounting periods.

P364D

2. COVID-19 PandemicThe COVID-19 pandemic continues to evolve and has caused significant volatility and disruptions in our business, particularly during fiscal 2021 and 2020. Despite the recent improvement in trends, we cannot reasonably predict the extent to which our future business will be impacted by the pandemic.

3. Cash and Cash Equivalents/Concentration of Credit RiskFor purposes of the condensed consolidated balance sheets and condensed consolidated statements of cash flows, the Company considers all highly liquid investments with maturities at date of purchase of three months or less to be cash equivalents. Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents. The Company places its cash and cash equivalents in what it believes to be high credit quality banks and institutional money market funds. The Company maintains cash accounts that exceed federally insured limits.

4. Earnings per ShareBasic earnings per common share amounts are calculated using the weighted average number of common shares outstanding for the period. Diluted earnings per common share amounts are calculated using the weighted average number of common shares outstanding plus the additional dilution for all potentially dilutive securities, such as nonvested restricted stock. During loss periods, diluted loss per share amounts are based on the weighted average number of common shares outstanding, because the inclusion of common stock equivalents would be antidilutive.The dilutive effect of stock-based compensation arrangements is accounted for using the treasury stock method. The Company includes as assumed proceeds the amount of compensation cost attributed to future services and not yet recognized. For the first quarter of 2022 and 2021, there were 222,000 and 38,000 shares of nonvested restricted stock, respectively, excluded from the calculation of diluted earnings per share because of antidilution.The following table provides a reconciliation of the weighted average number of common shares outstanding used to calculate basic earnings per share to the number of common shares and common stock equivalents outstanding used in calculating diluted earnings per share:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:3.5pt;"><td style="vertical-align:bottom;width:71.09%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:71.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#ffffff;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:26.64%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;width:71.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;background:#ffffff;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;">April 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#ffffff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;background:#ffffff;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;">May 1, 2021</td></tr><tr><td style="vertical-align:bottom;width:71.09%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average number of common shares outstanding</td><td style="vertical-align:bottom;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"> 8,407,284</td><td style="vertical-align:bottom;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"> 9,449,792</td></tr><tr><td style="vertical-align:bottom;width:71.09%;margin:0pt;padding:0pt;">Incremental shares from assumed vesting of nonvested restricted stock</td><td style="vertical-align:bottom;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 121,044</td></tr><tr><td style="vertical-align:bottom;width:71.09%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average number of common shares and common stock equivalents outstanding</td><td style="vertical-align:bottom;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,407,284</td><td style="vertical-align:bottom;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 9,570,836</td></tr></table>

222000

38000

<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:3.5pt;"><td style="vertical-align:bottom;width:71.09%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;margin:0pt;padding:0pt;"><div style="height:3.5pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:71.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#ffffff;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:26.64%;background:#ffffff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;width:71.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;background:#ffffff;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;">April 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#ffffff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;background:#ffffff;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;">May 1, 2021</td></tr><tr><td style="vertical-align:bottom;width:71.09%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average number of common shares outstanding</td><td style="vertical-align:bottom;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"> 8,407,284</td><td style="vertical-align:bottom;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"> 9,449,792</td></tr><tr><td style="vertical-align:bottom;width:71.09%;margin:0pt;padding:0pt;">Incremental shares from assumed vesting of nonvested restricted stock</td><td style="vertical-align:bottom;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 121,044</td></tr><tr><td style="vertical-align:bottom;width:71.09%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average number of common shares and common stock equivalents outstanding</td><td style="vertical-align:bottom;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,407,284</td><td style="vertical-align:bottom;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 9,570,836</td></tr></table>

8407284

9449792

121044

8407284

9570836

5. Revolving Credit FacilityIn October 2011, the Company entered into a five-year, $50 million credit facility with Bank of America. The facility was amended in August 2015 and May 2020 to extend the maturity dates. The facility was further amended on April 15, 2021 to modify terms and extend the maturity date to April 15, 2026. The amended facility provides a $75 million credit commitment and a $25 million uncommitted “accordion” feature that under certain circumstances could allow the Company to increase the size of the facility to $100 million. The facility is secured by the Company’s inventory, accounts receivable and related assets, but not its real estate, fixtures and equipment, and it contains one financial covenant, a fixed charge coverage ratio, which is applicable and tested only in certain circumstances. The facility has an unused commitment fee of 0.20% and permits the payment of cash dividends subject to certain limitations. Borrowings under the credit facility bear interest (a) for Eurodollar Loans, at a rate equal to the Eurodollar Rate plus either 1.25%, 1.50% or 1.75%, or (b) for Base Rate Loans, at a rate equal to the highest of (i) the prime rate, (ii) the Federal Funds Rate plus 0.5% or (iii) the Eurodollar Rate plus 1.0%, plus, in each case either 0.25%, 0.50% or 0.75%, based in any such case on the average daily availability for borrowings under the facility. As of April 30, 2022, the Company had no borrowings under the credit facility and $0.6 million of letters of credit outstanding.

P5Y

50000000

75000000

25000000 100000000 1

0.0020

0.0125

0.0150

0.0175

0.005

0.010

0.0025

0.0050

0.0075

600000

6. Income TaxesIncome taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. If there is a change in tax rates, the Company would recognize the impact of such change in income in the period that includes the enactment date.For the first quarter of 2022 and 2021, the Company utilized the annual effective tax rate method to calculate income taxes. The effective income tax rate was 23.7% for the first quarter of 2022, compared to 20.7% for the first quarter of 2021. The difference in the tax rate was due to a favorable tax impact of restricted stock vestings in the prior year.

0.237

0.207

7. Commitments and ContingenciesThe Company from time to time is involved in various legal proceedings incidental to the conduct of its business, including claims by customers, landlords, employees or former employees. Once it becomes probable that the Company will incur costs in connection with a legal proceeding and such costs can be reasonably estimated, the Company establishes appropriate reserves. While legal proceedings are subject to uncertainties and the outcome of any such matter is not predictable, the Company is not aware of any legal proceedings pending or threatened against it that it expects to have a material adverse effect on its financial condition, results of operations or liquidity.

8. Stock RepurchasesRepurchases of Common StockThe Company periodically repurchases shares of its common stock under board-authorized repurchase programs. Such repurchases may be made in the open market, through block trades or through other negotiated transactions. Share repurchases were as follows (in thousands, except per share data):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:67.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:67.8%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:32.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;width:67.8%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">April 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">May 1, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.8%;background:#cceeff;margin:0pt;padding:0pt;">Total number of shares purchased</td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> 170</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.65%;background:#cceeff;margin:0pt;padding:0pt;"> 537</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.8%;margin:0pt;padding:0pt;">Average price paid per share (including commissions)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"> 31.20</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.65%;margin:0pt;padding:0pt;"> 84.60</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.8%;background:#cceeff;margin:0pt;padding:0pt;">Total investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> 5,317</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.65%;background:#cceeff;margin:0pt;padding:0pt;"> 45,470</td></tr></table>On March 15, 2022, the Company announced that its board of directors approved an additional $30 million stock repurchase program. At April 30, 2022, $54.7 million remained available under the Company’s stock repurchase authorization.

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:67.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:67.8%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:32.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;width:67.8%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">April 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">May 1, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.8%;background:#cceeff;margin:0pt;padding:0pt;">Total number of shares purchased</td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> 170</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.65%;background:#cceeff;margin:0pt;padding:0pt;"> 537</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.8%;margin:0pt;padding:0pt;">Average price paid per share (including commissions)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"> 31.20</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.65%;margin:0pt;padding:0pt;"> 84.60</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:67.8%;background:#cceeff;margin:0pt;padding:0pt;">Total investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> 5,317</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.65%;background:#cceeff;margin:0pt;padding:0pt;"> 45,470</td></tr></table>

170000

537000

31.20

84.60

5317000

45470000

30000000

54700000

9. RevenueRevenue RecognitionThe Company’s primary source of revenue is derived from the sale of clothing and accessories to its customers with the Company’s performance obligations satisfied immediately when the customer pays for their purchase and receives the merchandise. Sales taxes collected by the Company from customers are excluded from revenue. Revenue from layaway sales is recognized at the point in time when the merchandise is paid for and control of the goods is transferred to the customer, thereby satisfying the Company’s performance obligation. The Company defers revenue from the sale of gift cards and recognizes the associated revenue upon the redemption of the cards by customers to purchase merchandise.Sales ReturnsThe Company allows customers to return merchandise for up to 30 days after the date of sale. Expected refunds to customers are recorded based on estimated margin using historical return information.Disaggregation of RevenueThe Company’s retail operations represent a single operating segment based on the way the Company manages its business. Operating decisions and resource allocation decisions are made at the Company level in order to maintain a consistent retail store presentation. The Company’s retail stores sell similar products, use similar processes to sell those products, and sell their products to similar classes of customers.In the following table, the Company’s revenue from contracts with customers is disaggregated by “CITI” or major merchandise category. The percentage of net sales for each CITI with the merchandise assortment was approximately:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:78.5%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:28.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.61%;margin:0pt;padding:0pt;">April 30,</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.61%;margin:0pt;padding:0pt;">May 1,</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2021</td></tr><tr><td style="vertical-align:bottom;width:71.27%;background:#cceeff;margin:0pt;padding:0pt;">Ladies</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">28</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">29</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;">Kids</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">21</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">20</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;background:#cceeff;margin:0pt;padding:0pt;">Accessories & Beauty</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">18</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">17</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;">Mens</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">16</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">18</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;background:#cceeff;margin:0pt;padding:0pt;">Home & Lifestyle</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">9</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">8</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;">Footwear</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">8</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">8</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td></tr></table>

P30D

<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:78.5%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:28.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.61%;margin:0pt;padding:0pt;">April 30,</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.61%;margin:0pt;padding:0pt;">May 1,</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2021</td></tr><tr><td style="vertical-align:bottom;width:71.27%;background:#cceeff;margin:0pt;padding:0pt;">Ladies</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">28</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">29</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;">Kids</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">21</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">20</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;background:#cceeff;margin:0pt;padding:0pt;">Accessories & Beauty</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">18</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">17</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;">Mens</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">16</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">18</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;background:#cceeff;margin:0pt;padding:0pt;">Home & Lifestyle</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">9</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;">8</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:71.27%;margin:0pt;padding:0pt;">Footwear</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">8</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">8</td><td style="vertical-align:bottom;white-space:nowrap;width:3.5%;margin:0pt;padding:0pt;">%</td></tr></table>

0.28 0.29 0.21 0.20 0.18 0.17 0.16 0.18 0.09 0.08 0.08 0.08

10. LeasesThe Company leases its retail store locations and certain office space and equipment. Leases for store locations are typically for a term of five years with options to extend for one or more five-year periods. The Company analyzes all leases at inception to determine if a right-of-use asset and lease liability should be recognized. Leases with an initial term of 12 months or less and leases with mutual termination clauses are not included on the condensed consolidated balance sheets. The lease liability is measured at the present value of future lease payments as of the lease commencement date.In April 2022, the Company completed a sale-leaseback of its distribution center in Darlington, South Carolina for net proceeds of approximately $45.5 million. The total annual rent for this property starts at approximately $3.2 million with increases of 2% annually over the 20-year lease term. The net proceeds included $5.6 million of advance funding for a capital improvement project that will be amortized over the 20-year lease term. The lease contains the option to extend for six additional periods of five years each. The transaction met the requirements for sale-leaseback accounting, resulting in a gain of approximately $34.9 million on the condensed consolidated statements of operations. The related land and property were removed from property and equipment, and an operating lease right-of-use asset and lease liability of $42.6 million and $37.0 million, respectively, were recorded in the condensed consolidated balance sheets.Total lease cost is comprised of operating lease costs, short-term lease costs, and variable lease costs, which include rent paid as a percentage of sales, common area maintenance, real estate taxes and insurance for the Company’s real estate leases. Lease costs consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:35.94%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">April 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">May 1, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;margin:0pt;padding:0pt;"> 13,861</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 12,953</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;">Variable lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"> 2,333</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;margin:0pt;padding:0pt;"> 2,981</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;background:#cceeff;margin:0pt;padding:0pt;">Short term lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 346</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 316</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;">Total lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 16,540</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 16,250</td></tr></table>Future minimum lease payments as of April 30, 2022 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:85%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fiscal Year</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Lease Costs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;margin:0pt;padding:0pt;"> 41,190</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;margin:0pt;padding:0pt;"> 56,306</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;margin:0pt;padding:0pt;"> 48,025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;margin:0pt;padding:0pt;"> 37,547</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;margin:0pt;padding:0pt;"> 27,194</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;">Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 100,676</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">Total future minimum lease payments</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;margin:0pt;padding:0pt;"> 310,938</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;">Less: imputed interest</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (60,172)</td><td style="vertical-align:middle;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;">(1)</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">Total present value of lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 250,766</td><td style="vertical-align:middle;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;">(2)</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:1.1pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:43.2pt;"/><td style="font-family:'Helvetica';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Calculated using the discount rate for each lease.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:43.2pt;"/><td style="font-family:'Helvetica';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Includes short-term and long-term portions of operating lease liabilities.</td></tr></table><div style="margin-top:1.1pt;"/>Certain operating leases provide for fixed monthly rents, while others provide for contingent rents computed as a percentage of net sales and others provide for a combination of both fixed monthly rents and contingent rents computed as a percentage of net sales.Supplemental cash flows and other information related to operating leases are as follows (in thousands, except for weighted average amounts):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:35.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">April 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">May 1, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;background:#cceeff;margin:0pt;padding:0pt;">Cash paid for operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;margin:0pt;padding:0pt;"> 14,557</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;background:#cceeff;margin:0pt;padding:0pt;"> 13,919</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;">Right of use assets obtained in exchange for new operating lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"> 52,327</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"> 17,529</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;">Weighted average remaining lease term (years) - operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"> 7.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"> 5.17</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average discount rate - operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;margin:0pt;padding:0pt;">3.71%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;background:#cceeff;margin:0pt;padding:0pt;">3.07%</td></tr></table>

P5Y

45500000

3200000 0.02 P20Y 5600000 P20Y 6 P5Y

34900000

42600000

37000000.0

<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:35.94%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">April 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">May 1, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;margin:0pt;padding:0pt;"> 13,861</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 12,953</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;">Variable lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"> 2,333</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;margin:0pt;padding:0pt;"> 2,981</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;background:#cceeff;margin:0pt;padding:0pt;">Short term lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 346</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 316</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.34%;margin:0pt;padding:0pt;">Total lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 16,540</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 16,250</td></tr></table>

13861000

12953000

2333000

2981000

346000

316000

16540000

16250000

Future minimum lease payments as of April 30, 2022 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:85%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fiscal Year</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Lease Costs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;margin:0pt;padding:0pt;"> 41,190</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;margin:0pt;padding:0pt;"> 56,306</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;margin:0pt;padding:0pt;"> 48,025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;margin:0pt;padding:0pt;"> 37,547</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;margin:0pt;padding:0pt;"> 27,194</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;">Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 100,676</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">Total future minimum lease payments</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;margin:0pt;padding:0pt;"> 310,938</td><td style="vertical-align:bottom;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;margin:0pt;padding:0pt;">Less: imputed interest</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (60,172)</td><td style="vertical-align:middle;white-space:nowrap;width:3.57%;margin:0pt;padding:0pt;">(1)</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:73.52%;background:#cceeff;margin:0pt;padding:0pt;">Total present value of lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 250,766</td><td style="vertical-align:middle;white-space:nowrap;width:3.57%;background:#cceeff;margin:0pt;padding:0pt;">(2)</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:1.1pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:43.2pt;"/><td style="font-family:'Helvetica';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Calculated using the discount rate for each lease.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:43.2pt;"/><td style="font-family:'Helvetica';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Includes short-term and long-term portions of operating lease liabilities.</td></tr></table><div style="margin-top:1.1pt;"/>

41190000

56306000

48025000

37547000

27194000

100676000

310938000

60172000

250766000

Supplemental cash flows and other information related to operating leases are as follows (in thousands, except for weighted average amounts):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:35.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Thirteen Weeks Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">April 30, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">May 1, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;background:#cceeff;margin:0pt;padding:0pt;">Cash paid for operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;margin:0pt;padding:0pt;"> 14,557</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;background:#cceeff;margin:0pt;padding:0pt;"> 13,919</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;">Right of use assets obtained in exchange for new operating lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"> 52,327</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"> 17,529</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;margin:0pt;padding:0pt;">Weighted average remaining lease term (years) - operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;margin:0pt;padding:0pt;"> 7.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;margin:0pt;padding:0pt;"> 5.17</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:61.33%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average discount rate - operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.7%;background:#cceeff;margin:0pt;padding:0pt;">3.71%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.99%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.66%;background:#cceeff;margin:0pt;padding:0pt;">3.07%</td></tr></table>

14557000

13919000

52327000

17529000

P7Y4M13D

P5Y2M1D

0.0371

0.0307