Quarterly report pursuant to Section 13 or 15(d)

LEASES

v3.21.4
LEASES
 9 Months Ended
Jan. 01, 2022
Leases [Abstract]  
LEASES LEASES
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and impairment. Components of lease cost were as follows:
Three Months Ended December Nine Months Ended December
(In thousands) 2021 2020 2021 2020
Operating lease cost $ 105,888  $ 110,970  $ 329,548  $ 326,501 
Other lease costs 34,092  19,336  84,522  53,906 
Total lease cost $ 139,980  $ 130,306  $ 414,070  $ 380,407 

During the nine months ended December 2021 and 2020, the Company paid $357.9 million and $289.4 million of cash for operating leases, respectively. The increase was primarily driven by the timing of payments and lease concessions related to the effects of COVID-19 in the nine months ended December 2020. During the nine months ended December 2021 and 2020, the Company obtained $147.2 million and $506.7 million of right-of-use assets in exchange for lease liabilities, respectively. The decrease was primarily driven by the commencement of a new distribution center lease during the nine months ended December 2020.
LEASES LEASES
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and impairment. Components of lease cost were as follows:
Three Months Ended December Nine Months Ended December
(In thousands) 2021 2020 2021 2020
Operating lease cost $ 105,888  $ 110,970  $ 329,548  $ 326,501 
Other lease costs 34,092  19,336  84,522  53,906 
Total lease cost $ 139,980  $ 130,306  $ 414,070  $ 380,407 

During the nine months ended December 2021 and 2020, the Company paid $357.9 million and $289.4 million of cash for operating leases, respectively. The increase was primarily driven by the timing of payments and lease concessions related to the effects of COVID-19 in the nine months ended December 2020. During the nine months ended December 2021 and 2020, the Company obtained $147.2 million and $506.7 million of right-of-use assets in exchange for lease liabilities, respectively. The decrease was primarily driven by the commencement of a new distribution center lease during the nine months ended December 2020.