Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Mar. 16, 2017 | Jul. 30, 2016 | |
Document Documentand Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jan. 28, 2017 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | GME | ||
Entity Registrant Name | GameStop Corp. | ||
Entity Central Index Key | 1,326,380 | ||
Current Fiscal Year End Date | --01-28 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 101,210,856 | ||
Entity Public Float | $ 3,160 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Jan. 28, 2017 | Jan. 30, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 669.4 | $ 450.4 |
Receivables, net | 220.9 | 176.5 |
Merchandise inventories, net | 1,121.5 | 1,163 |
Prepaid expenses and other current assets | 128.9 | 147.6 |
Total current assets | 2,140.7 | 1,937.5 |
Property and equipment: | ||
Land | 18.6 | 17.3 |
Buildings and leasehold improvements | 724.5 | 668.2 |
Fixtures and equipment | 931.4 | 874.6 |
Total property and equipment | 1,674.5 | 1,560.1 |
Less accumulated depreciation | 1,203.5 | 1,075.6 |
Net property and equipment | 471 | 484.5 |
Deferred Tax Assets, Net, Noncurrent | 59 | 39 |
Goodwill | 1,725.2 | 1,476.7 |
Other intangible assets, net | 507.2 | 330.4 |
Other noncurrent assets | 72.8 | 62.2 |
Total noncurrent assets | 2,835.2 | 2,392.8 |
Total assets | 4,975.9 | 4,330.3 |
Current liabilities: | ||
Accounts payable | 616.6 | 631.9 |
Accrued liabilities | 1,090.9 | 1,041.4 |
Income taxes payable | 54 | 121.1 |
Total current liabilities | 1,761.5 | 1,794.4 |
Deferred income taxes | 23 | 29.6 |
Other long-term liabilities | 122.3 | 79.9 |
Other long-term liabilities | 815 | 345.4 |
Total long-term liabilities | 960.3 | 454.9 |
Total liabilities | 2,721.8 | 2,249.3 |
Commitments and contingencies (Notes 7, 10 and 11) | ||
Stockholders’ equity: | ||
Class A common stock — $.001 par value; authorized 300.0 shares; 101.0 and 103.3 shares issued, 101.0 and 103.3 shares outstanding, respectively | 0.1 | 0.1 |
Additional paid-in capital | 0 | 0 |
Accumulated other comprehensive loss | (47.3) | (88.8) |
Retained earnings | 2,301.3 | 2,169.7 |
Total stockholders' equity | 2,254.1 | 2,081 |
Total liabilities and stockholders’ equity | $ 4,975.9 | $ 4,330.3 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jan. 28, 2017 | Jan. 30, 2016 |
Statement of Financial Position [Abstract] | ||
Class A common stock, par value | $ 0.001 | $ 0.001 |
Class A common stock, authorized | 300,000,000 | 300,000,000 |
Class A common stock, issued | 101,000,000 | 103,300,000 |
Class A common stock, shares outstanding | 101,000,000 | 103,300,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Statement [Abstract] | |||
Net sales | $ 8,607.9 | $ 9,363.8 | $ 9,296 |
Cost of sales | 5,598.6 | 6,445.5 | 6,520.1 |
Gross profit | 3,009.3 | 2,918.3 | 2,775.9 |
Selling, general and administrative expenses | 2,252.6 | 2,108.9 | 2,001 |
Depreciation and amortization | 165.2 | 156.6 | 154.4 |
Asset impairments | 33.8 | 4.6 | 2.2 |
Operating earnings | 557.7 | 648.2 | 618.3 |
Interest income | (0.8) | (0.4) | (0.7) |
Interest expense | 53.8 | 23.4 | 10.7 |
Earnings before income tax expense | 504.7 | 625.2 | 608.3 |
Income tax expense | 151.5 | 222.4 | 215.2 |
Net income | $ 353.2 | $ 402.8 | $ 393.1 |
Basic | $ 3.42 | $ 3.80 | $ 3.50 |
Diluted | $ 3.40 | $ 3.78 | $ 3.47 |
Basic | 103.4 | 106 | 112.2 |
Diluted | 103.8 | 106.7 | 113.2 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 353.2 | $ 402.8 | $ 393.1 |
Other comprehensive income (loss): | |||
Foreign currency translation adjustments | 41.5 | (63.4) | (107.9) |
Total comprehensive income | $ 394.7 | $ 339.4 | $ 285.2 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity - USD ($) shares in Millions, $ in Millions | Total | Common Stock [Member] | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings |
Consolidated net income (loss) attributable to GameStop Corp. | $ 393.1 | ||||
Balance (in shares) at Feb. 01, 2014 | 115.3 | ||||
Balance at Feb. 01, 2014 | 2,251.4 | $ 0.1 | $ 172.9 | $ 82.5 | $ 1,995.9 |
Comprehensive income (loss): | |||||
Net income (loss) | 393.1 | 393.1 | |||
Foreign currency translation adjustments | (107.9) | (107.9) | |||
Dividends | (151.6) | (151.6) | |||
Stock-based compensation | 21.5 | 21.5 | |||
Repurchases of common stock (in shares) | (8.4) | ||||
Repurchases of common stock | (333.4) | (189) | |||
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants (in shares) | 0.8 | ||||
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | (5.4) | (5.4) | |||
Balance (in shares) at Jan. 31, 2015 | 107.7 | ||||
Balance at Jan. 31, 2015 | 2,067.7 | $ 0.1 | 0 | (25.4) | 2,093 |
Consolidated net income (loss) attributable to GameStop Corp. | 402.8 | ||||
Comprehensive income (loss): | |||||
Net income (loss) | 402.8 | 402.8 | |||
Foreign currency translation adjustments | (63.4) | (63.4) | |||
Dividends | (153.5) | (153.5) | |||
Stock-based compensation | 29.9 | 29.9 | |||
Repurchases of common stock (in shares) | (5.2) | ||||
Repurchases of common stock | (202) | (29.4) | (172.6) | ||
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants (in shares) | 0.8 | ||||
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | (0.5) | (0.5) | |||
Balance (in shares) at Jan. 30, 2016 | 103.3 | ||||
Balance at Jan. 30, 2016 | 2,081 | $ 0.1 | 0 | (88.8) | 2,169.7 |
Consolidated net income (loss) attributable to GameStop Corp. | 353.2 | ||||
Comprehensive income (loss): | |||||
Net income (loss) | 353.2 | ||||
Foreign currency translation adjustments | 41.5 | 41.5 | |||
Dividends | (155.1) | (155.1) | |||
Stock-based compensation | 17.8 | 17.8 | |||
Repurchases of common stock (in shares) | (3) | ||||
Repurchases of common stock | (75.1) | (8.6) | (66.5) | ||
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants (in shares) | 0.7 | ||||
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | (9.2) | (9.2) | |||
Balance (in shares) at Jan. 28, 2017 | 101 | ||||
Balance at Jan. 28, 2017 | $ 2,254.1 | $ 0.1 | $ 0 | $ (47.3) | $ 2,301.3 |
Consolidated Statements Of Cha7
Consolidated Statements Of Changes In Equity (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Statement of Stockholders' Equity [Abstract] | |||
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net | $ (0.8) | $ 4.4 | $ 5.3 |
Dividends declared per common share | $ 1.48 | $ 1.32 | $ 1.10 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Statement of Cash Flows [Abstract] | |||
Cash Acquired from Acquisition | $ 0.1 | $ 13.9 | $ 3.6 |
Interest | 23.3 | 21.8 | 2.7 |
Cash flows from operating activities: | |||
Net income | 353.2 | 402.8 | 393.1 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | |||
Depreciation and amortization (including amounts in cost of sales) | 166.7 | 158.2 | 156.5 |
Asset impairments | 33.8 | 4.6 | 2.2 |
Stock-based compensation expense | 17.8 | 29.9 | 21.5 |
DeferredIncomeTaxExpenseForCashFlow | (37.2) | ||
Deferred income taxes | (35) | (1.5) | 9.2 |
Excess Tax Benefit from Share-based Compensation, Operating Activities | (0.8) | 4.4 | 5.7 |
Loss on disposal of property and equipment | 10.4 | 3.6 | 4.7 |
Other Operating Activities, Cash Flow Statement | 15.5 | (4.6) | (16.1) |
Changes in operating assets and liabilities: | |||
Receivables, net | (43.9) | (58.1) | (44.3) |
Merchandise inventories | 14.7 | (49.2) | (24.8) |
Prepaid expenses and other current assets | (11.4) | (6) | (1.7) |
Prepaid income taxes and income taxes payable | (49.1) | 95.9 | (82.3) |
Accounts payable and accrued liabilities | 64.1 | 91.4 | 59.4 |
Changes in other long-term liabilities | 1.7 | (5.8) | 8.8 |
Net cash flows provided by operating activities | 537.1 | 656.8 | 480.5 |
Cash flows from investing activities: | |||
Purchase of property and equipment | (142.7) | (173.2) | (159.6) |
Acquisitions, net of cash acquired of $0.1, $13.9 and $3.6, respectively | (441.2) | (267.5) | (89.7) |
Proceeds from Divestiture of Businesses | 0 | 0 | 12.4 |
Other | 5.9 | (3.9) | 1 |
Net cash flows used in investing activities | (578) | (444.6) | (235.9) |
Cash flows from financing activities: | |||
Repayment of acquisition-related debt | (0.4) | (2.2) | 0 |
Repurchase of common shares | (63.1) | (194.3) | (331.1) |
Dividends paid | (155.5) | (154.1) | (148.8) |
Proceeds from Issuance of Long-term Debt | 475 | 0 | 350 |
Borrowings from the revolver | 545 | 463 | 626 |
Repayments of revolver borrowings | (545) | (463) | (626) |
Payments of Financing Costs | (8.1) | 0 | (7.7) |
Payments Related to Tax Withholding for Share-based Compensation | (8.4) | ||
Issuance of common stock, net of share repurchases for withholding taxes | 0 | 0.7 | |
Excess Tax Benefit from Share-based Compensation, Financing Activities | (0.8) | 4.4 | 5.7 |
Net cash flows provided by (used in) financing activities | 238.7 | (346.2) | (131.2) |
Exchange rate effect on cash and cash equivalents | 21.2 | (25.7) | (39.5) |
Increase (decrease) in cash and cash equivalents | 219 | (159.7) | 73.9 |
Cash and cash equivalents at beginning of period | 450.4 | 610.1 | 536.2 |
Cash and cash equivalents at end of period | 669.4 | 450.4 | 610.1 |
Income Taxes Paid | $ 230.1 | $ 122.2 | $ 265.9 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 28, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 1. Nature of Operations and Summary of Significant Accounting Policies The Company GameStop Corp. (“GameStop,” “we,” “us,” “our,” or the “Company”) is a global family of specialty retail brands. Through our 6,013 video game brand stores and e-commerce sites in eight countries, we are the world's largest omnichannel retailer of video game products. We also offer mobile and consumer technology products through our 1,403 AT&T authorized retailer stores, 69 Cricket pre-paid wireless stores and 50 Simply Mac stores, a certified reseller of Apple consumer electronic products. In addition, we are a leading retailer of collectible pop-culture themed products. We have five reportable segments, which are comprised of four geographic Video Game Brands segments—United States, Canada, Australia and Europe—and a Technology Brands segment. Our Technology Brands segment includes our Spring Mobile and Simply Mac businesses. Spring Mobile owns and operates our AT&T branded wireless retail stores and Cricket branded pre-paid wireless stores. Our largest vendors in our Video Game Brands segments are Sony, Microsoft, Nintendo, Electronic Arts and Activision, which accounted for 24% , 14% , 10% , 7% and 6% , respectively, of our new product purchases in fiscal year 2016; 27% , 19% , 11% , 10% and 9% , respectively, in fiscal year 2015 ; and 24% , 17% , 11% , 8% and 10% , respectively, in fiscal year 2014 . Basis of Presentation and Consolidation Our consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. All dollar and share amounts (other than dollar amounts per share) in the consolidated financial statements are stated in millions unless otherwise indicated. Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2016 consisted of the 52 weeks ended on January 28, 2017 ("fiscal 2016"). Fiscal year 2015 consisted of the 52 weeks ended on January 30, 2016 ("fiscal 2015"). Fiscal year 2014 consisted of the 52 weeks ended on January 31, 2015 ("fiscal 2014"). Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates. Cash and Cash Equivalents We consider all short-term, highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Our cash and cash equivalents are carried at cost, which approximates market value, and consist primarily of time deposits with highly rated commercial banks. From time to time depending upon interest rates, credit worthiness and other factors, we invest in money market investment funds holding direct U.S. Treasury obligations. Restricted Cash We consider bank deposits serving as collateral for bank guarantees issued on behalf of our foreign subsidiaries as restricted cash, which is included in other noncurrent assets in our consolidated balance sheets. Our restricted cash was $10.2 million and $9.7 million as of January 28, 2017 and January 30, 2016 , respectively. Merchandise Inventories Our merchandise inventories are carried at the lower of cost or market generally using the average cost method. Under the average cost method, as new product is received from vendors, its current cost is added to the existing cost of product on-hand and this amount is re-averaged over the cumulative units. Pre-owned video game products traded in by customers are recorded as inventory at the amount of the store credit given to the customer. We are required to make adjustments to inventory to reflect potential obsolescence or over-valuation as a result of cost exceeding market. In valuing inventory, we consider quantities on hand, recent sales, potential price protections, returns to vendors and other factors. Our ability to assess these factors is dependent upon our ability to forecast customer demand and to provide a well-balanced merchandise assortment. Inventory is adjusted based on anticipated physical inventory losses or shrinkage and actual losses resulting from periodic physical inventory counts. Inventory reserves as of January 28, 2017 and January 30, 2016 were $59.0 million and $61.5 million , respectively. Property and Equipment Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation on furniture, fixtures and equipment is computed using the straight-line method over their estimated useful lives ranging from two to ten years. Maintenance and repairs are expensed as incurred, while betterments and major remodeling costs are capitalized. Leasehold improvements are capitalized and amortized over the shorter of their estimated useful lives or the terms of the respective leases, including option periods in which the exercise of the option is reasonably assured (generally ranging from three to ten years). Costs incurred in purchasing management information systems are capitalized and included in property and equipment. These costs are amortized over their estimated useful lives from the date the technology becomes operational. Our total depreciation expense was $151.7 million , $144.9 million and $144.5 million for fiscal 2016 , 2015 and 2014 , respectively. We periodically review our property and equipment when events or changes in circumstances indicate that its carrying amounts may not be recoverable or its depreciation or amortization periods should be accelerated. We assess recoverability based on several factors, including our intention with respect to our stores and those stores’ projected undiscounted cash flows. An impairment loss is recognized for the amount by which the carrying amount of the assets exceeds its fair value, determined based on an estimate of discounted future cash flows. We recorded impairment losses of $19.4 million , $4.4 million and $1.9 million in fiscal 2016 , 2015 and 2014 , respectively. See Note 2, "Asset Impairments," for further information regarding our asset impairment charges. Business Combinations Business combinations are accounted for under the acquisition method of accounting. Under this method, the assets acquired and liabilities assumed are recognized at their respective fair values as of the date of acquisition. The excess, if any, of the acquisition price over the fair values of the assets acquired and liabilities assumed is recorded as goodwill. For significant acquisitions, we utilize third-party appraisal firms to assist us in determining the fair values for certain assets acquired and liabilities assumed. Adjustments to the fair values of assets acquired and liabilities assumed are made until we obtain all relevant information regarding the facts and circumstances that existed as of the acquisition date, not to exceed one year from the date of the acquisition (the "measurement period"). Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings. Costs associated with business acquisitions are expensed as incurred. Over the past several years, we have acquired certain AT&T authorized retailers and in 2015, we acquired Geeknet, Inc. an online and wholesale retailer of collectibles and other products. See Note 3, "Acquisitions and Divestitures" for additional information. Goodwill and Intangible Assets Goodwill represents the excess purchase price over tangible net assets and identifiable intangible assets acquired. Intangible assets are recorded apart from goodwill if they arise from a contractual right and are capable of being separated from the entity and sold, transferred, licensed, rented or exchanged individually. We are required to evaluate goodwill and other intangible assets not subject to amortization for impairment at least annually. This annual test is completed at the beginning of the fourth quarter of each fiscal year or when circumstances indicate the carrying value of the goodwill or other intangible assets might be impaired. Goodwill has been assigned to reporting units for the purpose of impairment testing. We have five operating segments, including Video Game Brands in the United States, Australia, Canada and Europe, and Technology Brands in the United States, which also define our reporting units based upon the similar economic characteristics of operations within each segment, including the nature of products, product distribution and the type of customer and separate management within these businesses. We use a two-step process to test our goodwill for impairment. Step 1 consists of comparing the estimated fair value of the reporting unit to its carrying value, including goodwill. The estimated fair value of our reporting units is determined based on its discounted cash flows. If the carrying value of the reporting unit is higher than its estimated fair value, then the second step of the goodwill impairment test is needed. The second step compares the implied fair value of the reporting unit’s goodwill with its carrying amount. The implied fair value of goodwill is determined in Step 2 of the goodwill impairment test by valuing all of the tangible and intangible assets and liabilities of the reporting unit in a manner similar to the acquisition method of accounting used in a business combination. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of its goodwill, then an impairment loss is recognized in the amount of the excess. No goodwill impairment charges were recognized in fiscal 2016 , 2015 and 2014 . Our indefinite-lived intangible assets consist of dealer agreements and trade names. Intangible assets that are determined to have an indefinite life are not amortized, but are required to be evaluated at least annually for impairment. If the carrying value of an individual indefinite-lived intangible asset exceeds its fair value, such individual indefinite-lived intangible asset is impaired by the amount of the excess. The fair value of our dealer agreements are estimated using a discounted cash flow analysis known as the Greenfield Method, which assumes that a business, at its inception, owns only dealer agreements and must make capital expenditure, working capital and other investments to ramp up its operations to a level that is comparable to its current operations. The fair value of our trade names are estimated by using a relief-from-royalty approach, which assumes the value of the trade name is the discounted cash flows of the amount that would be paid by a hypothetical market participant had they not owned the trade name and instead licensed the trade name from another company. As a result of our fiscal 2016 annual impairment testing, we recognized impairment charges totaling $14.4 million associated with our trade names and dealer agreements. See Note 6, "Goodwill and Intangible Assets" for additional information. No impairment charges associated with our indefinite-lived intangible assets were recognized in fiscal 2015 and 2014. Our definite-lived intangible assets consist primarily of customer relationships, leasehold rights, advertising relationships and amounts attributed to favorable leasehold interests recorded as a result of business acquisitions. The estimated useful life and amortization methodology of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows. Intangible assets that are determined to have a definite life are amortized over that period. Revenue Recognition We recognize revenue when the sales price is fixed or determinable, collection is reasonably assured and the customer takes possession of the merchandise, or in the case of commissions, when the commission-generating activity has been performed. Revenues do not include sales taxes or other taxes collected from customers. Revenue from the sales of our products is recognized at the time of sale, net of sales discounts and net of an estimated sales return reserve, based on historical return rates, with a corresponding reduction in cost of sales. Our sales return policy is generally limited to 30 days or less and as such our sales returns are, and historically have been, immaterial. The sales of pre-owned video game products are recorded at the retail price charged to the customer. Advertising revenues for Game Informer are recorded upon release of magazines for sale to consumers. Subscription revenues for our PowerUp Rewards loyalty program and magazines are recognized on a straight-line basis over the subscription period. Revenue from the sales of product replacement plans is recognized on a straight-line basis over the coverage period. Customer liabilities and other deferred revenues for our PowerUp Rewards loyalty program, gift cards, customer credits, magazines and product replacement plans are included in accrued liabilities (see Note 8, "Accrued Liabilities"). We also sell a variety of digital products which generally allow consumers to download software or play games on the internet. Certain of these products do not require us to purchase inventory or take physical possession of, or take title to, inventory. When purchasing these products from us, consumers pay a retail price and we earn a commission based on a percentage of the retail sale as negotiated with the product publisher. We recognize these commissions as revenue at the time of sale of these digital products. Our Spring Mobile business earns commission revenue as an AT&T authorized retailer related to the activation of new wireless customers, the activation of enhanced or upgraded features on existing wireless customer plans and certain other commission incentive opportunities that may be offered to us by AT&T. We have determined that we are not deemed the obligor on the underlying wireless services contracts that give rise to this commission revenue; therefore, commission revenue is recognized at the point at which the commission-generating activity has been performed, which is generally driven by customer activation. Commissions are recognized net of an allowance for chargebacks from AT&T for estimated customer cancellations, which is periodically assessed and adjusted to reflect historical cancellation experience. In May 2014, the Financial Accounting Standards Board issued a comprehensive update to current revenue accounting standards; see "—Recent Accounting Pronouncements" for additional information. Customer Liabilities We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed. In addition, breakage is recognized quarterly on unused customer liabilities older than two years to the extent that our management believes the likelihood of redemption by the customer is remote, based on historical redemption patterns. To the extent that future redemption patterns differ from those historically experienced, there will be variations in the recorded breakage. Breakage is recorded in cost of sales in our consolidated statements of operations. Vendor Arrangements We and most of our largest vendors participate in cooperative advertising programs and other vendor marketing programs in which the vendors provide us with cash consideration in exchange for marketing and advertising the vendors’ products. Our accounting for cooperative advertising arrangements and other vendor marketing programs results in a significant portion of the consideration received from our vendors reducing the product costs in inventory rather than as an offset to our marketing and advertising costs. The consideration serving as a reduction in inventory is recognized in cost of sales as inventory is sold. The amount of vendor allowances to be recorded as a reduction of inventory is determined based on the nature of the consideration received and the merchandise inventory to which the consideration relates. We apply a sell-through rate to determine the timing in which the consideration should be recognized in cost of sales. Consideration received that relates to video game products that have not yet been released to the public is deferred as a reduction of inventory. The cooperative advertising programs and other vendor marketing programs generally cover a period from a few days up to a few weeks and include items such as product catalog advertising, in-store display promotions, internet advertising, co-op print advertising and other programs. The allowance for each event is negotiated with the vendor and requires specific performance by us to be earned. Vendor allowances of $184.3 million , $208.2 million and $202.4 million were recorded as a reduction of cost of sales for fiscal 2016 , 2015 and 2014 , respectively. Loyalty Expenses Our PowerUp Rewards loyalty program allows enrolled members to earn points on purchases that can be redeemed for rewards that include discounts or merchandise. We estimate the net cost of the rewards that will be issued and redeemed and record this cost and the associated balance sheet liability as points are accumulated by loyalty program members. The two primary estimates utilized to record the balance sheet liability for loyalty points earned by members are the estimated redemption rate and the estimated weighted-average cost per point redeemed. We use historical redemption rates experienced under the loyalty program as a basis to estimate the ultimate redemption rate of points earned. The estimated weighted-average cost per point redeemed, used to estimate future redemption costs, is based on our most recent actual costs incurred to fulfill points that have been redeemed by our loyalty program members and is adjusted for recent changes in redemption costs, including the mix of rewards redeemed. We continually evaluate our methodology and assumptions based on developments in redemption patterns, cost per point redeemed and other factors. Changes in the ultimate redemption rate and weighted-average cost per point redeemed have the effect of either increasing or decreasing the liability through the current period provision by an amount estimated to cover the cost of all points previously earned but not yet redeemed by loyalty program members as of the end of the reporting period. The cost of free or discounted product is recognized in cost of sales and the associated liability is included in accrued liabilities. The reserve is released when loyalty program members redeem their respective points and the corresponding rewards are recorded to cost of goods sold in the period of redemption. The cost of administering the loyalty program, including program administration fees, program communications and cost of loyalty cards, is recognized in selling, general and administrative expenses. Cost of Sales and Selling, General and Administrative Expenses Classification The classification of cost of sales and selling, general and administrative expenses varies across the retail industry. We include purchasing, receiving and distribution costs in selling, general and administrative expenses in the consolidated statements of operations. We include processing fees associated with purchases made by check and credit cards in cost of sales in the consolidated statements of operations. Advertising Expenses We expense advertising costs for television, newspapers and other media when the advertising takes place. Advertising expenses for fiscal 2016 , 2015 and 2014 totaled $76.6 million , $66.6 million and $64.1 million , respectively. Income Taxes Income tax expense includes federal, state, local and international income taxes. Income taxes are accounted for utilizing an asset and liability approach and deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the financial reporting basis and the tax basis of existing assets and liabilities using enacted tax rates. Deferred tax assets and liabilities are measured using the 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 the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. We maintain liabilities for uncertain tax positions until examination of the tax year is completed by the applicable taxing authority, available review periods expire or additional facts and circumstances cause us to change our assessment of the appropriate accrual amount. See Note 7, "Income Taxes," for additional information. We plan on permanently reinvesting our undistributed foreign earnings outside the United States. Where foreign earnings are permanently reinvested, no provision for federal income or foreign withholding taxes is made. Should we have undistributed foreign earnings that are not permanently reinvested, United States income tax expense and foreign withholding taxes will be provided for at the time the earnings are generated. Leases We lease retail stores, warehouse facilities, office space and equipment. These assets and properties are generally leased under noncancelable agreements that expire at various dates through 2033 with various renewal options for additional periods. The agreements, which are classified as operating leases, generally provide for minimum and, in some cases, percentage rentals and require us to pay all insurance, taxes and other maintenance costs. Leases with step rent provisions, escalation clauses or other lease concessions are accounted for on a straight-line basis over the lease term, which includes renewal option periods when we are reasonably assured of exercising the renewal options and includes “rent holidays” (periods in which we are not obligated to pay rent). Cash or lease incentives received upon entering into certain store leases (“tenant improvement allowances”) are recognized on a straight-line basis as a reduction to rent expense over the lease term, which includes renewal option periods when we are reasonably assured of exercising the renewal options. We record the unamortized portion of tenant improvement allowances as a part of deferred rent. We do not have leases with capital improvement funding. Percentage rentals are based on sales performance in excess of specified minimums at various stores and are accounted for in the period in which the amount of percentage rentals can be accurately estimated. Foreign Currency Generally, we have determined that the functional currencies of our foreign subsidiaries are the subsidiaries’ local currencies. The assets and liabilities of the subsidiaries are translated at the applicable exchange rate as of the end of the balance sheet date and revenue and expenses are translated at an average rate over the period. Currency translation adjustments are recorded as a component of other comprehensive income. Net gains (losses) from foreign currency transactions and derivatives are included in selling, general and administrative expenses and were $4.5 million , $1.6 million and $2.5 million in fiscal 2016 , 2015 and 2014 , respectively. The foreign currency transaction gains and losses are primarily due to the decrease or increase in the value of the U.S. dollar compared to the functional currencies of the countries in which we operate internationally. We use forward exchange contracts, foreign currency options and cross-currency swaps (together, the “foreign currency contracts”) to manage currency risk primarily related to foreign-currency denominated intercompany assets and liabilities and certain other foreign currency assets and liabilities. These foreign currency contracts are not designated as hedges and, therefore, changes in the fair values of these derivatives are recognized in earnings, thereby offsetting the current earnings effect of the re-measurement of related intercompany loans and foreign currency assets and liabilities. See Note 4, "Fair Value Measurements and Financial Instruments," for additional information regarding our foreign currency contracts. Recently Adopted Accounting Pronouncements In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2015-03, Simplifying the Presentation of Debt Issuance Costs. This standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 became effective for interim and annual reporting periods beginning after December 15, 2015. We adopted this guidance as of January 31, 2016, and as a result have recast the January 30, 2016 consolidated balance sheet and information disclosed in Note 9 and Note 16 to conform to the current period presentation. The adoption of this standard reduced previously presented prepaid expenses and other current assets by $1.3 million , other noncurrent assets by $3.3 million and long-term debt by $4.6 million , for the period ended January 30, 2016 based upon the balance of unamortized debt financing costs relating to our senior notes due in 2019. Recent Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other, Simplifying the Test for Goodwill Impairment. The update simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill and the carrying amount. Instead, entities will record an impairment charge based on the excess of a reporting unit's carrying amount over its estimated fair value. The updated standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those years, with early adoption permitted. We intend to early adopt this standard in the first quarter of fiscal year 2017 and do not anticipate that it will have a material impact to our consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows, Classification of Certain Cash Receipts and Cash Payments, which provides guidance on eight specific cash flow issues in regard to how cash receipts and cash payments are presented and classified in the statement of cash flows. The updated standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those years, with early adoption permitted. The amendments in the ASU should be adopted on a retrospective basis unless it is impracticable to apply, in which case the amendments should be applied prospectively as of the earliest date practicable. We are currently evaluating the impact that this standard will have on our consolidated financial statements and disclosures. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. The update simplifies several aspects of accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The updated standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those years. We do not anticipate that adoption of this standard will have a material impact to our consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, which sets forth a new five-step revenue recognition model that replaces the prior revenue recognition guidance in its entirety. The underlying principle of the new standard is that an entity will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. The updated standard also required additional disclosures on the nature, timing, and uncertainty of revenue and related cash flows. The following subsequent ASUs either clarified or revised guidance set forth in ASU 2014-09: • In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year, with the option to adopt the standard as of the original effective date. • In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers, which clarifies how an entity should identify the unit of accounting (i.e. the specified good or service) for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements. The updated revenue recognition standards are effective for annual reporting periods beginning on or after December 15, 2017, with the option to early adopt for annual periods beginning after December 15, 2016. Entities may use either a full retrospective or modified retrospective transition approach in applying these ASUs. We currently anticipate adopting these standards in the first quarter of fiscal 2018 and applying the modified retrospective approach. We anticipate that the standards will affect the way that we recognize liabilities associated with our loyalty program, customer incentives and gift cards. We continue to evaluate the impact that this standard will have on our consolidated financial statements and footnote disclosures. In March 2016, the FASB issued ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products. The standard specifies how prepaid stored-value product liabilities should be derecognized, thereby eliminating the current and potential future diversity in practice. Consistent with ASU 2014-09 related to revenue recognition, the standard requires derecognition in proportion with the rights expected to be exercised by the holder. Entities may adopt this standard using either a modified retrospective transition approach with a cumulative-effect adjustment to retained earnings or a full retrospective transition approach. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with early adoption permitted. We do not anticipate that adoption of this standard will have a material impact to our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. The standard requires a lessee to recognize a liability related to lease payments and an offsetting right-of-use asset representing a right to use the underlying asset for the lease term on the balance sheet. Entities are required to use a modified retrospective transition approach for leases that exist or are entered into after the beginning of the earliest comparative period presented in the financial statements, with certain reliefs available. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the overall impact to our consolidated financial statements, though we expect the adoption to result in a material increase in the assets and liabilities reflected in our consolidated balance sheets. |
Asset Impairments
Asset Impairments | 12 Months Ended |
Jan. 28, 2017 | |
Text Block [Abstract] | |
Asset Impairments and Restructuring Charges | 2. Asset Impairments Fiscal 2016 We recognized impairment charges of $33.8 million in fiscal 2016 related to our evaluation of store property, equipment and other assets as well as certain intangible assets in situations where the asset’s carrying value was not expected to be recovered by its future cash flows over its remaining useful life. A summary of our asset impairment charges, by reportable segment, for fiscal 2016 is as follows (in millions): United States Canada Europe Technology Brands Total Impairments of intangible assets $ — $ — $ 7.4 $ 7.0 $ 14.4 Impairments of property, equipment and other assets - store impairments 0.3 0.2 2.3 16.6 19.4 Total $ 0.3 $ 0.2 $ 9.7 $ 23.6 $ 33.8 There were no asset impairment charges in our Australia Video Game Brands segment during fiscal 2016 . Fiscal 2015 We recognized impairment charges of $4.6 million in fiscal 2015 related to our evaluation of store property, equipment and other assets as well as certain intangible assets in situations where the asset’s carrying value was not expected to be recovered by its future cash flows over its remaining useful life. A summary of our asset impairment charges, by reportable segment, for fiscal 2015 is as follows (in millions): United States Europe Technology Brands Total Impairments of intangible assets $ — $ 0.2 $ — $ 0.2 Impairments of property, equipment and other assets - store impairments 2.8 0.6 1.0 4.4 Total $ 2.8 $ 0.8 $ 1.0 $ 4.6 There were no asset impairment charges in our Canada or Australia Video Game Brands segments during fiscal 2015 . Fiscal 2014 We recognized impairment charges of $2.2 million in fiscal 2014 related to our evaluation of intangible assets and store property, equipment and other assets in situations where the asset’s carrying value was not expected to be recovered by its future cash flows over its remaining useful life. A summary of our asset impairment charges, by reportable segment, for fiscal 2014 is as follows (in millions): United States Canada Europe Total Impairments of intangible assets $ — $ — $ 0.3 $ 0.3 Impairments of property, equipment and other assets - store impairments 0.6 0.4 0.9 1.9 Total $ 0.6 $ 0.4 $ 1.2 $ 2.2 There were no asset impairment charges in our Australia Video Game Brands or Technology Brands segments during fiscal 2014 . |
Acquisitions
Acquisitions | 12 Months Ended |
Jan. 28, 2017 | |
Business Combinations [Abstract] | |
Acquisitions | 3. Acquisitions and Divestitures Fiscal 2016 Acquisition of Cellular World & Red Skye Wireless On August 2, 2016, in connection with the continued expansion of our Technology Brands segment, Spring Mobile completed the acquisition of certain assets comprised of 436 stores from two authorized AT&T retailers, Cellular World and Red Skye Wireless. The purchase price consisted of $393.3 million in cash (net of $0.1 million of cash acquired), which includes the effect of working capital adjustments, and future contingent consideration that we estimate will range from $40.0 million to $50.0 million . The cash portion of the purchase price was funded with proceeds from our $475.0 million unsecured senior notes due in March 2021 combined with a draw on our revolving credit facility. The contingent consideration includes two potential payments: (i) a $20.0 million payment contingent on the relocation of certain acquired stores to be completed by Cellular World, due the latter of August 2017 or when relocations are completed and (ii) an earn-out payment due in March 2018, contingent on the sales performance of certain acquired stores during calendar year 2017. We estimate that the second payment will range from $20.0 million to $30.0 million . We recognized an acquisition-date liability of $43.2 million representing the total estimated fair value of the contingent consideration; see Note 4, "Fair Value Measurements and Financial Instruments," for additional information. The estimated purchase price of the acquisition totaled $436.5 million , which includes the cash payment of $393.3 million plus the fair value of the contingent consideration of $43.2 million . The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): Assets acquired Merchandise inventories $ 13.1 Prepaid expenses and other current assets 0.2 Property and equipment 23.9 Goodwill 239.1 Other intangible asset — dealer agreements 163.0 Other noncurrent assets 6.9 Total assets acquired 446.2 Liabilities assumed Accounts payable 9.5 Accrued liabilities 0.2 Total liabilities assumed 9.7 Total estimated purchase price $ 436.5 The goodwill recognized reflects the acquired assembled workforce and Spring Mobile's entrance into new domestic regional markets. The goodwill recognized is assigned to the Technology Brands segment and is deductible for tax purposes. The intangible asset recognized for dealer agreements represents the value associated with the exclusive agreements with AT&T to operate the acquired stores. The intangible asset for dealer agreements is indefinite lived and not subject to amortization, but is subject to annual impairment testing. Subsequent to the acquisition date, the stores acquired from Cellular World and Red Skye Wireless contributed $136.6 million in net sales in fiscal 2016. Pro forma information cannot be presented due to the impracticability of obtaining separately identifiable historical financial data for the acquired stores. Acquisition of Midwest Cellular On May 31, 2016, in connection with the continued expansion of our Technology Brands segment, Spring Mobile completed the acquisition of certain assets of an AT&T authorized retailer, Midwest Cellular, comprised of 71 stores for cash consideration of $47.0 million . The acquisition was funded with proceeds from our $475.0 million unsecured senior notes due in March 2021. We recorded $42.7 million of indefinite-lived intangible assets related to this acquisition. The pro forma effect of this acquisition is not material to our consolidated financial statements. Fiscal 2015 Acquisition of Geeknet, Inc. On July 17, 2015, we purchased Geeknet, Inc. ("Geeknet") an online and wholesale retailer that sells collectibles, apparel, gadgets, electronics, toys and other retail products for technology enthusiasts and general consumers under the name ThinkGeek through the www.thinkgeek.com website and certain exclusive products to wholesale channel customers. The addition of Geeknet provides an expansion of our global omnichannel platform and enables us to broaden our product offering in the collectibles category and deepen relationships with our existing customer base. Total consideration was $126.0 million , net of $13.9 million of cash acquired. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): Assets acquired Receivables $ 6.9 Merchandise inventories 25.6 Prepaid expenses and other current assets 12.5 Property and equipment 0.9 Deferred income taxes 2.8 Other non-current assets 0.1 Goodwill 52.2 Other intangible assets 33.4 Total assets acquired 134.4 Liabilities assumed Accounts payable 3.6 Accrued liabilities 17.3 Deferred income taxes (12.6 ) Other long-term liabilities 0.1 Total liabilities assumed 8.4 Total purchase price $ 126.0 The goodwill of $52.2 million resulting from the acquisition is not deductible for tax purposes and represents the value we paid for the knowledge and expertise of, and established presence in, the collectibles market . The operating results of Geeknet have been included in our consolidated financial statements beginning on the closing date of July 17, 2015 and are reported in our United States Video Game Brands segment. The pro forma effect assuming this acquisition was made at the beginning of the earliest period presented herein is not material to our consolidated financial statements. Acquisitions in Technology Brands In fiscal 2015, in connection with the continued expansion of our Technology Brands segment, Spring Mobile completed acquisitions of certain AT&T authorized retailers and Simply Mac completed an acquisition of an authorized Apple retailer for a total combined consideration of $141.5 million (net of cash acquired). We recorded $46.3 million of goodwill and $76.6 million of other intangible assets related to these acquisitions. The operating results of these acquisitions are included in our consolidated financial statements beginning on the respective closing dates of each acquisition and are reported in our Technology Brands segment. The pro forma effect assuming these acquisitions were made at the beginning of the earliest period presented herein is not material to our consolidated financial statements. Fiscal 2014 Acquisitions in Technology Brands In fiscal 2014, in connection with the continued expansion of our Technology Brands business, Spring Mobile completed acquisitions of certain AT&T authorized retailers and Simply Mac completed acquisitions of certain authorized Apple retailers for total consideration of $93.3 million ( $89.7 million net of cash acquired). We recorded indefinite-lived intangible assets of $76.8 million and goodwill of $4.5 million related to these acquisitions. The operating results of these acquisitions are included in our consolidated financial statements beginning on the respective closing dates of each acquisition and are reported in our Technology Brands segment. The pro forma effect assuming these acquisitions were made at the beginning of each fiscal year presented herein is not material to our consolidated financial statements. Divestiture of GameStope Iberia In October 2014, we entered into a sale and purchase agreement to transfer certain retail locations and most of the inventory owned by our Spain subsidiary, GameStop Iberia, to a local video game specialty retailer. We made the decision to exit these operations, which were part of our Europe segment, due to continued operating losses and limited market share. These operations were considered immaterial for discontinued operations accounting treatment. As a result of the divestiture, we recorded a pre-tax loss in continuing operations of $14.8 million during fiscal 2014, primarily related to inventory write-downs, involuntary termination benefits and lease obligations, of which $7.1 million was recorded in cost of sales and $7.7 million was recorded in selling, general and administrative expenses in our consolidated statements of operations. As of November 1, 2014, we had transferred or otherwise ceased daily operations in all of our stores in Spain. |
Fair Value Measurements and Fin
Fair Value Measurements and Financial Instruments | 12 Months Ended |
Jan. 28, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Financial Instruments | 4. Fair Value Measurements and Financial Instruments Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Applicable accounting standards require disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are observable inputs other than quoted prices included within Level 1 for the asset or liability, either directly or indirectly through market-corroborated inputs. Level 3 inputs are unobservable inputs for the asset or liability reflecting our assumptions about pricing by market participants. Assets and Liabilities that are Measured at Fair Value on a Recurring Basis Assets and liabilities that are measured at fair value on a recurring basis include our foreign currency contracts, life insurance policies we own that have a cash surrender value, contingent consideration payable associated with acquisitions, and certain nonqualified deferred compensation liabilities. We value our foreign currency contracts, our life insurance policies with cash surrender values and certain nonqualified deferred compensation liabilities based on Level 2 inputs using quotations provided by major market news services, such as Bloomberg , and industry-standard models that consider various assumptions, including quoted forward prices, time value, volatility factors, and contractual prices for the underlying instruments, as well as other relevant economic measures, all of which are observable in active markets. When appropriate, valuations are adjusted to reflect credit considerations, generally based on available market evidence. In connection with our acquisition of certain assets from Cellular World and Red Skye Wireless, we recognized an acquisition-date liability of $43.2 million representing the total estimated fair value of the contingent consideration (see Note 3, "Acquisitions and Divestitures"). The fair value was estimated based on Level 3 inputs which include future sales projections derived from our historical experience with comparable acquired stores and a discount rate commensurate with the risks and inherent uncertainty in the business. There was no material change in the fair value of the contingent consideration from the date of acquisition through January 28, 2017. The following table provides the fair value of our assets and liabilities measured on a recurring basis and recorded on our consolidated balance sheets (in millions): January 28, 2017 January 30, 2016 Level 2 Level 3 Level 2 Level 3 Assets: Foreign currency contracts Other current assets $ 13.3 $ — $ 40.6 $ — Other noncurrent assets 0.1 — 0.1 — Company-owned life insurance (1) 12.4 — 10.1 — Total assets $ 25.8 $ — $ 50.8 $ — Liabilities: Foreign currency contracts Accrued liabilities $ 4.3 $ — $ 32.3 $ — Other long-term liabilities 0.1 — 0.5 — Nonqualified deferred compensation (2) 1.0 — 1.1 — Contingent consideration (3) — 43.2 — — Total liabilities $ 5.4 $ 43.2 $ 33.9 $ — ___________________ (1) Recognized in other non-current assets in our consolidated balance sheets. (2) Recognized in accrued liabilities in our consolidated balance sheets. (3) Current portion of $20.0 million recognized in accrued liabilities and noncurrent portion of $23.2 million recognized in other long-term liabilities in our consolidated balance sheet. We use forward exchange contracts, foreign currency options and cross-currency swaps (together, the “foreign currency contracts”) to manage currency ri sk primarily related to intercompany loans denominated in non-functional currencies and certain foreign currency assets and liabilities. These foreign currency contracts are not designated as hedges and, therefore, changes in the fair values of these derivatives are recognized in earnings, thereby offsetting the current earnings effect of the re-measurement of related intercompany loans and foreign currency assets and liabilities. The total gross notional value of derivatives related to our foreign currency contracts was $586.0 million and $925.3 million as of January 28, 2017 and January 30, 2016 , respectively. Activity related to the trading of derivative instruments and the offsetting impact of related intercompany and foreign currency assets and liabilities recognized in selling, general and administrative expense is as follows (in millions): Fiscal Year 2016 2015 2014 Gains (losses) on the changes in fair value of derivative instruments $ 20.0 $ (5.2 ) $ 28.9 Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities (15.5 ) 6.8 (26.4 ) Total $ 4.5 $ 1.6 $ 2.5 We do not use derivative financial instruments for trading or speculative purposes. We are exposed to counterparty credit risk on all of our derivative financial instruments and cash equivalent investments. We manage counterparty risk according to the guidelines and controls established under comprehensive risk management and investment policies. We continuously monitor our counterparty credit risk and utilize a number of different counterparties to minimize our exposure to potential defaults. We do not require collateral under derivative or investment agreements. Assets that are Measured at Fair Value on a Nonrecurring Basis Assets that are measured at fair value on a nonrecurring basis relate primarily to property and equipment, goodwill and other intangible assets, which are remeasured when the estimated fair value is below its carrying value. For these assets, we do not periodically adjust carrying value to fair value; rather, when we determine that impairment has occurred, the carrying value of the asset is reduced to its fair value. In fiscal 2016, we recognized impairment charges associated with our Simply Mac dealer agreements and Micromania trade name of $7.0 million and $7.4 million , respectively, to reflect their estimated fair values of $11.0 million and $35.0 million , respectively. Also, in fiscal 2016, we recognized impairment charges associated with store property and equipment totaling $19.4 million to reflect its estimated fair value of zero . In fiscal 2015, we recognized impairment charges associated with store property and equipment and other intangible assets of $4.4 million and $0.2 million , respectively, to reflect their estimated fair values of zero . The fair value measurements included in the goodwill, trade name and property and equipment impairment tests are primarily based on significant unobservable inputs (Level 3) developed using company-specific information. These assets were valued using variations of the discounted cash flow method, which require assumptions associated with, among others, revenue and cost estimates, discount rates, terminal values, royalty rates, and remaining useful lives. See Note 1, "Nature of Operations and Summary of Significant Accounting Policies," for further information related to our valuation methods. Other Fair Value Disclosures The carrying values of our cash equivalents, receivables, net, accounts payable and notes payable approximate the fair value due to their short-term maturities. As of January 28, 2017, our unsecured 5.50% senior notes due in 2019 had a carrying value of $346.6 million and a fair value of $358.7 million , and our unsecured 6.75% senior notes due in 2021 had a net carrying value of $468.4 million and a fair value of $487.4 million . The fair values of our senior notes were determined based on quoted market prices obtained through an external pricing source which derives its price valuations from daily marketplace transactions, with adjustments to reflect the spreads of benchmark bonds, credit risk and certain other variables. We have determined this to be a Level 2 measurement as all significant inputs into the quote provided by our pricing source are observable in active markets. |
Receivables, Net
Receivables, Net | 12 Months Ended |
Jan. 28, 2017 | |
Receivables [Abstract] | |
Receivables, Net | 5. Receivables, Net Receivables consist primarily of bankcard receivables and other receivables. Other receivables include receivables from vendors, primarily related to commissions receivable associated with our Technology Brands businesses, Game Informer magazine advertising customers, receivables from landlords for tenant allowances and receivables from vendors for merchandise returns, vendor marketing allowances and various other programs. An allowance for doubtful accounts has been recorded to reduce receivables to an amount expected to be collectible. Receivables consisted of the following (in millions): January 28, 2017 January 30, 2016 Bankcard receivables $ 39.5 $ 37.7 Vendor receivables 143.3 119.3 Technology brands carrier receivables 41.0 24.1 Other receivables 2.8 0.8 Allowance for doubtful accounts (5.7 ) (5.4 ) Total receivables, net $ 220.9 $ 176.5 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Jan. 28, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill, Intangible Assets and Deferred Financing Fees | 6. Goodwill and Intangible Assets Goodwill The changes in the carrying amount of goodwill, by reportable segment, for fiscal 2015 and 2016 were as follows (in millions): United States Canada Australia Europe Technology Brands Total Balance at January 31, 2015 $ 1,143.3 $ 29.5 $ 72.1 $ 78.9 $ 66.6 $ 1,390.4 Acquisitions (Note 3) 52.2 — — — 46.3 98.5 Foreign currency translation adjustment — (2.6 ) (6.4 ) (3.2 ) — (12.2 ) Balance at January 30, 2016 1,195.5 26.9 65.7 75.7 112.9 1,476.7 Acquisitions (Note 3) 4.2 — — — 239.1 243.3 Foreign currency translation adjustment — 1.7 4.4 (0.9 ) — 5.2 Balance at January 28, 2017 $ 1,199.7 $ 28.6 $ 70.1 $ 74.8 $ 352.0 $ 1,725.2 We perform an annual impairment test on the carrying value of our Goodwill as further described in Note 1, "Nature of Operations and Summary of Significant Accounting Policies." No goodwill impairment charges were recognized in fiscal 2016 , 2015 and 2014 . Cumulative goodwill impairment losses were $640.5 million as of January 28, 2017, of which $13.5 million , $100.3 million , $107.1 million and $419.6 million were attributable to our United States, Canada, Australia and Europe reporting units, respectively. Intangible Assets The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of January 28, 2017 and January 30, 2016 were as follows (in millions): January 28, 2017 January 30, 2016 Gross Carrying Amount (1) Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets with indefinite lives: Trade names $ 43.7 $ — $ 43.7 $ 51.7 $ — $ 51.7 Dealer agreements 409.3 — 409.3 210.6 — 210.6 Intangible assets with finite lives: Leasehold rights 86.4 (51.4 ) 35.0 87.5 (46.2 ) 41.3 Customer relationships 14.5 (4.1 ) 10.4 14.5 (1.5 ) 13.0 Other 39.5 (30.7 ) 8.8 39.1 (25.3 ) 13.8 Total $ 593.4 $ (86.2 ) $ 507.2 $ 403.4 $ (73.0 ) $ 330.4 ___________________ (1) The change in the gross carrying amount of intangible assets from January 30, 2016 to January 28, 2017 is due to acquisitions (Note 3), impairments (Note 2), and the impact of exchange rate fluctuations. Indefinite-lived Intangible Assets Trade names which were recorded as a result of acquisitions, primarily Micromania, are considered indefinite-lived intangible assets as they are expected to contribute to cash flows indefinitely and are not subject to amortization, but are subject to annual impairment testing. Dealer agreements represent acquired intangible assets which are associated with our Spring Mobile and Simply Mac businesses. These dealer agreements represent Spring Mobile's exclusive agreements with AT&T to operate AT&T stores as an “AT&T Authorized Retailer” and sell AT&T wireless contracts in its stores and Simply Mac’s exclusive agreements with Apple to operate Apple stores under the name “Simply Mac” and sell Apple products in its stores. The dealer agreement value recorded on our consolidated balance sheets represents a value associated with the rights and privileges afforded to us under these agreements. Our dealer agreements are considered indefinite-lived intangible assets as they are expected to contribute to cash flows indefinitely and are not subject to amortization, but are subject to annual impairment testing. As a result of our annual impairment test of indefinite-lived intangible assets (see Note 1), we recognized impairments of $7.0 million related to our Simply Mac dealer agreements and $7.4 million related to our Micromania trade name. Recent revenue and profitability measures associated with Simply Mac and Micromania indicated that future revenue and profitability no longer supported the carrying value of these intangible assets. Finite-lived Intangible Assets Leasehold rights, the majority of which were recorded as a result of the purchase of SFMI Micromania SAS (“Micromania”) in 2008, represent the value of rights of tenancy under commercial property leases for properties located in France. Rights pertaining to individual leases can be sold by us to a new tenant or recovered by us from the landlord if the exercise of the automatic right of renewal is refused. Leasehold rights are amortized on a straight-line basis over the expected lease term, not to exceed 20 years , with no residual value. Customer relationships, which were recorded as a result of the ThinkGeek acquisition, represent the value of the relationships related to both wholesale and website customers within the United States. ThinkGeek sells its products directly to large wholesale retailers and also sells its products directly to customers on its ThinkGeek website. Wholesale customer relationships are amortized on a straight-line basis over seven years, and website customer relationships are amortized on a straight-line basis over five years. Other intangible assets include advertising relationships and favorable leasehold interests. Advertising relationships, which were recorded as a result of digital acquisitions, are relationships with advertisers who pay to place ads on our digital websites and are amortized on a straight-line basis over 10 years . Favorable leasehold interests represent the value of the contractual monthly rental payments that are less than the current market rent at stores acquired as part of the Micromania acquisition. Favorable leasehold interests are amortized on a straight-line basis over their remaining lease term with no expected residual value. As of January 28, 2017, the total weighted-average amortization period for the remaining intangible assets, excluding goodwill, was approximately 9.3 years. The intangible assets are being amortized based upon the pattern in which the economic benefits of the intangible assets are being utilized, with no expected residual value. Intangible asset amortization expense during fiscal 2016 , 2015 and 2014 was $15.0 million , $13.4 million and $12.0 million , respectively. The estimated aggregate intangible asset amortization expense for the next five fiscal years is as follows (in millions): Fiscal Year Ending on or around January 31, Projected Amortization Expense 2018 $ 13.5 2019 11.3 2020 8.6 2021 6.0 2022 4.0 $ 43.4 |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 28, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 7. Income Taxes The provision for income taxes consisted of the following (in millions): Fiscal Year 2016 2015 2014 Current tax expense: Federal $ 143.8 $ 178.7 $ 158.4 State 13.5 16.3 18.0 Foreign 29.2 28.9 29.6 186.5 223.9 206.0 Deferred tax expense (benefit): Federal (1.2 ) 0.2 29.3 State (0.2 ) 3.6 (3.3 ) Foreign (33.6 ) (5.3 ) (16.8 ) (35.0 ) (1.5 ) 9.2 Total income tax expense $ 151.5 $ 222.4 $ 215.2 The components of earnings before income tax expense consisted of the following (in millions): Fiscal Year 2016 2015 2014 United States $ 446.8 $ 553.5 $ 558.8 International 57.9 71.7 49.5 Total $ 504.7 $ 625.2 $ 608.3 The following is a reconciliation of income tax expense (benefit) computed at the U.S. Federal statutory tax rate to income tax expense (benefit) reported in our consolidated statements of operations: Fiscal Year 2016 2015 2014 Federal statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal effect 1.7 2.1 2.0 Foreign income tax rate differential (0.9 ) (1.0 ) (0.4 ) Change in valuation allowance 4.1 (0.9 ) 1.8 Change in unrecognized tax benefits 2.3 0.9 (0.2 ) Subpart F income 1.3 0.9 2.7 Interest income from hybrid securities (0.6 ) (1.6 ) (5.2 ) Realization of losses in foreign operations not previously benefited (1) (8.3 ) — (2.2 ) Loss on investment in foreign subsidiary (3.2 ) — — Other (including permanent differences) (2) (1.4 ) 0.2 1.9 30.0 % 35.6 % 35.4 % ___________________ (1) In fiscal 2016, we adopted a plan of reorganization specific to certain foreign operations which resulted in our ability to recognize the benefit of foreign net operating loss carryforwards that were previously unrecognized in affected jurisdictions. As a result, we recognized a tax benefit of $42.1 million in the fourth quarter of fiscal 2016, which is subject to a partial valuation allowance of $14.8 million . The valuation allowance established for this tax benefit is reflected in the line item “Change in valuation allowance.” (2) Other is comprised of numerous items, none of which is greater than 1.75% of earnings before income taxes. Differences between financial accounting principles and tax laws cause differences between the bases of certain assets and liabilities for financial reporting purposes and tax purposes. The tax effects of these differences, to the extent they are temporary, are recorded as deferred tax assets and liabilities which are presented in the table below (in millions). Certain prior year balances have been reclassified to conform to current year presentation. January 28, 2017 January 30, 2016 Deferred tax asset: Inventory $ 26.7 $ 26.5 Deferred rents 8.3 8.9 Stock-based compensation 12.0 16.5 Net operating losses 89.6 52.2 Customer liabilities 19.5 26.1 Property and equipment 3.4 — Foreign tax credit carryover 4.1 3.9 Accrued compensation 26.3 25.9 Other 22.1 6.6 Total deferred tax assets 212.0 166.6 Valuation allowance (39.4 ) (18.8 ) Total deferred tax assets, net 172.6 147.8 Deferred tax liabilities: Property and equipment — (11.6 ) Goodwill (75.5 ) (89.0 ) Prepaid expenses (5.3 ) (6.6 ) Intangible assets (47.9 ) (30.3 ) Other (7.9 ) (0.9 ) Total deferred tax liabilities (136.6 ) (138.4 ) Net deferred tax assets $ 36.0 $ 9.4 The above amounts are reflected in the consolidated financial statements as: Deferred income taxes - assets $ 59.0 $ 39.0 Deferred income taxes - liabilities $ (23.0 ) $ (29.6 ) We file income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The Internal Revenue Service (“IRS”) is currently examining our U.S. income tax returns for the fiscal years 2010 through 2015. We do not anticipate any adjustments that would result in a material impact on our consolidated financial statements as a result of these audits. We are no longer subject to U.S. federal income tax examination for years before and including the fiscal year ended January 30, 2010. With respect to state and local jurisdictions and countries outside of the United States, we and our subsidiaries are typically subject to examination for three to six years after the income tax returns have been filed. Although the outcome of tax audits is always uncertain, we believe that adequate amounts of tax, interest and penalties have been provided for in the accompanying consolidated financial statements for any adjustments that might be incurred due to state, local or foreign audits. As of January 28, 2017, we have $25.4 million of net operating loss ("NOL") carryforwards in various foreign jurisdictions that expire in years 2017 through 2035 , as well as $229.1 million of foreign NOL carryforwards that have no expiration date. In addition, we have $4.1 million of foreign tax credit carryforwards that expire in years 2022 through 2026 . We also have $64.0 million of Federal NOL carryovers acquired through the ThinkGeek acquisition that will expire in years 2020 through 2035 . As of January 28, 2017 , the gross amount of unrecognized tax benefits was approximately $42.1 million . If we were to prevail on all uncertain tax positions, the net effect would be a benefit to our effective tax rate of $36.5 million , exclusive of any benefits related to interest and penalties. A reconciliation of the changes in the gross balances of unrecognized tax benefits follows (in millions): Fiscal Year 2016 2015 2014 Beginning balance of unrecognized tax benefits $ 31.9 $ 21.4 $ 20.6 Increases related to current period tax positions 3.5 4.0 1.0 Increases related to prior period tax positions 7.9 9.0 6.1 Reductions as a result of a lapse of the applicable statute of limitations (0.2 ) (1.0 ) (0.5 ) Reductions as a result of settlements with taxing authorities (1.0 ) (1.5 ) (5.8 ) Ending balance of unrecognized tax benefits $ 42.1 $ 31.9 $ 21.4 We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense. As of January 28, 2017 , January 30, 2016 and January 31, 2015 , we had approximately $7.2 million , $4.9 million and $4.6 million , respectively, in interest and penalties related to unrecognized tax benefits accrued, of which approximately $2.3 million , $0.4 million and $0.6 million of expense were recognized through income tax expense in fiscal 2016 , 2015 and 2014 . If we were to prevail on all uncertain tax positions, the reversal of these accruals related to interest would also be a benefit to our effective tax rate. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of our unrecognized tax positions could significantly increase or decrease within the next 12 months as a result of settling ongoing audits. However, as audit outcomes and the timing of audit resolutions are subject to significant uncertainty, and given the nature and complexity of the issues involved, we are unable to reasonably estimate the possible amount of change in the unrecognized tax benefits, if any, that may occur within the next 12 months as a result of ongoing examinations. Nevertheless, we believe we are adequately reserved for our uncertain tax positions as of January 28, 2017. Deferred income taxes have not been provided for on the approximately $671.1 million of undistributed earnings generated by certain foreign subsidiaries as of January 28, 2017 because we intend to permanently reinvest such earnings outside the United States. We do not currently require, nor do we have plans for, the repatriation of retained earnings from these subsidiaries. However, in the future, if we determine it is necessary to repatriate these funds, or we sell or liquidate any of these subsidiaries, we may be required to provide for income taxes on the repatriation. We may also be required to withhold foreign taxes depending on the foreign jurisdiction from which the funds are repatriated. The effective rate of tax on such repatriations may materially differ from the federal statutory tax rate, thereby having a material impact on tax expense in the year of repatriation; however, we cannot reasonably estimate the amount of such a tax event. |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Jan. 28, 2017 | |
Payables and Accruals [Abstract] | |
Accrued Liabilities | 8. Accrued Liabilities Accrued liabilities consisted of the following (in millions): January 28, 2017 January 30, 2016 Customer liabilities $ 342.5 $ 341.6 Deferred revenue 131.5 112.8 Employee benefits, compensation and related taxes 147.7 156.4 Checks and transfers yet to be presented for payment from zero balance cash accounts 268.4 264.9 Other taxes 52.0 52.9 Other accrued liabilities (1) 148.8 112.8 Total accrued liabilities $ 1,090.9 $ 1,041.4 (1) Includes the current portion of acquisition-related contingent consideration of $20.0 million . See Note 3, "Acquisitions and Divestitures" for additional information. |
Debt
Debt | 12 Months Ended |
Jan. 28, 2017 | |
Debt Disclosure [Abstract] | |
Debt | 9. Debt Senior Notes The carrying value of our long-term debt is comprised as follows (in millions): January 28, 2017 January 30, 2016 2019 Senior Notes principal amount $ 350.0 $ 350.0 2021 Senior Notes principal amount 475.0 — Less: Unamortized debt financing costs (1) (10.0 ) (4.6 ) Long-term debt, net $ 815.0 $ 345.4 (1) Includes the reclassification of debt financing costs as of January 30, 2016 from "Prepaid expenses and other current assets" and “Other noncurrent assets” as a result of the Company adopting ASU 2015-03. See Note 1. 2019 Senior Notes. In September 2014, we issued $350.0 million aggregate principal amount of unsecured 5.50% senior notes due October 1, 2019 (the "2019 Senior Notes"). The 2019 Senior Notes bear interest at the rate of 5.50% per annum with interest payable semi-annually in arrears on April 1 and October 1 of each year beginning on April 1, 2015. We incurred fees and expenses related to the 2019 Senior Notes offering of $6.3 million , which were capitalized during the third quarter of fiscal 2014 and are being amortized as interest expense over the term of the notes. The 2019 Senior Notes were sold in a private placement and are not registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The 2019 Senior Notes were offered in the U.S. to “qualified institutional buyers” pursuant to the exemption from registration under Rule 144A of the Securities Act and in exempted offshore transactions pursuant to Regulation S under the Securities Act. 2021 Senior Notes. In March 2016 , we issued $475.0 million aggregate principal amount of unsecured 6.75% senior notes due March 15, 2021 (the "2021 Senior Notes"). The 2021 Senior Notes bear interest at the rate of 6.75% per annum with interest payable semi-annually in arrears on March 15 and September 15 of each year beginning on September 15, 2016. The net proceeds from the offering were used for general corporate purposes, including acquisitions and dividends. We incurred fees and expenses related to the 2021 Senior Notes offering of $8.1 million , which were capitalized during the first quarter of fiscal 2016 and is being amortized as interest expense over the term of the notes. The 2021 Senior Notes were sold in a private placement and will not be registered under the Securities Act. The 2021 Senior Notes were offered in the U.S. to "qualified institutional buyers" pursuant to the exemption from registration under Rule 144A of the Securities Act and in exempted offshore transactions pursuant to Regulation S under the Securities Act. The indentures governing the 2019 Senior Notes and the 2021 Senior Notes (together, the "Senior Notes") do not contain financial covenants but do contain covenants which place certain restrictions on us and our subsidiaries, including limitations on asset sales, additional liens, investments, stock repurchases, the incurrence of additional debt and the repurchase of debt that is junior to the Senior Notes. In addition, the indentures restrict payments of dividends to stockholders (other than dividends payable in shares of capital stock) if one of the following conditions exist: (i) an event of default has occurred, (ii) we could not incur additional debt under the general debt covenant of the indentures or (iii) the sum of the proposed dividend and all other dividends and other restricted payments made under the indentures from the date of the indentures governing the Senior Notes exceeds the sum of 50% of consolidated net income plus 100% of net proceeds from capital stock sales and other amounts set forth in and determined as provided in the indentures. These restrictions are subject to exceptions and qualifications, including that we can pay up to $175 million in dividends to stockholders in each fiscal year and we can pay dividends and make other restricted payments in an unlimited amount if our leverage ratio on a pro forma basis after giving effect to the dividend payment and other restricted payments would be less than or equal to 1.0 :1.0. The indentures contain customary events of default, including payment defaults, breaches of covenants, failure to pay certain judgments and certain events of bankruptcy, insolvency and reorganization. If an event of default occurs and is continuing, the principal amount of the Senior Notes, plus accrued and unpaid interest, if any, may be declared immediately due and payable. These amounts automatically become due and payable if an event of default relating to certain events of bankruptcy, insolvency or reorganization occurs. Revolving Credit Facility In January 2011, we entered into a $400 million credit agreement, which we amended and restated on March 25, 2014 and further amended on September 15, 2014 (the "Revolver"). The Revolver is a five -year, asset-based facility that is secured by substantially all of our assets and the assets of our domestic subsidiaries. Availability under the Revolver is subject to a monthly borrowing base calculation. The Revolver includes a $50 million letter of credit sublimit. The amendments extended the maturity date to March 25, 2019; increased the expansion feature under the Revolver from $150 million to $200 million , subject to certain conditions; and revised certain other terms, including a reduction of the fee we are required to pay on the unused portion of the total commitment amount. Borrowing availability under the Revolver is limited to a borrowing base which allows us to borrow up to 90% of the appraisal value of the inventory, in each case plus 90% of eligible credit card receivables, net of certain reserves. The borrowing base provides for borrowing of up to 92.5% of the appraisal value during the fiscal months of August through October. Letters of credit reduce the amount available to borrow under the Revolver by an amount equal to the face value of the letters of credit. Our ability to pay cash dividends, redeem options and repurchase shares is generally permitted, except under certain circumstances, including if either 1) excess availability under the Revolver is less than 30% , or is projected to be within 12 months after such payment or 2) excess availability under the Revolver is less than 15% , or is projected to be within 12 months after such payment, and the fixed charge coverage ratio, as calculated on a pro-forma basis for the prior 12 months, is 1.1 :1.0 or less. In the event that excess availability under the Revolver is at any time less than the greater of (1) $30 million or (2) 10% of the lesser of the total commitment or the borrowing base, we will be subject to a fixed charge coverage ratio covenant of 1.0 :1.0. The Revolver places certain restrictions on us and our subsidiaries, including limitations on asset sales, additional liens, investments, loans, guarantees, acquisitions and the incurrence of additional indebtedness. Absent consent from our lenders, we may not incur more than $1 billion of senior secured debt and $750 million of additional unsecured indebtedness to be limited to $250 million in general unsecured obligations and $500 million in unsecured obligations to finance acquisitions valued at $500 million or more. The per annum interest rate under the Revolver is variable and is calculated by applying a margin (1) for prime rate loans of 0.25% to 0.75% above the highest of (a) the prime rate of the administrative agent, (b) the federal funds effective rate plus 0.50% or (c) the London Interbank Offered (“LIBO”) rate for a 30-day interest period as determined on such day plus 1.00% , and (2) for LIBO rate loans of 1.25% to 1.75% above the LIBO rate. The applicable margin is determined quarterly as a function of our average daily excess availability under the facility. In addition, we are required to pay a commitment fee of 0.25% for any unused portion of the total commitment under the Revolver. As of January 28, 2017 , the applicable margin was 0.25% for prime rate loans and 1.25% for LIBO rate loans. The Revolver provides for customary events of default with corresponding grace periods, including failure to pay any principal or interest when due, failure to comply with covenants, any material representation or warranty made by us or the borrowers proving to be false in any material respect, certain bankruptcy, insolvency or receivership events affecting us or our subsidiaries, defaults relating to certain other indebtedness, imposition of certain judgments and mergers or the liquidation of the Company or certain of its subsidiaries. During fiscal 2016, we cumulatively borrowed $545.0 million and repaid $545.0 million under the Revolver. Average borrowings under the Revolver for fiscal 2016 were $42.8 million and our average interest rate on those borrowings was 2.5% . As of January 28, 2017, total availability under the Revolver was $354.0 million , with no outstanding borrowings and outstanding standby letters of credit of $8.4 million . We are currently in compliance with the financial requirements of the Revolver. Luxembourg Line of Credit In September 2007, our Luxembourg subsidiary entered into a discretionary $20.0 million Uncommitted Line of Credit (the “Line of Credit”) with Bank of America. There is no term associated with the Line of Credit and Bank of America may withdraw the facility at any time without notice. The Line of Credit is available to our foreign subsidiaries for use primarily as a bank overdraft facility for short-term liquidity needs and for the issuance of bank guarantees and letters of credit to support operations. As of January 28, 2017 , there were no cash overdrafts outstanding under the Line of Credit and bank guarantees outstanding totaled $10.7 million . |
Leases
Leases | 12 Months Ended |
Jan. 28, 2017 | |
Leases [Abstract] | |
Leases | 10. Leases We lease retail stores, warehouse facilities, office space and equipment. These are generally leased under noncancelable agreements that expire at various dates through 2033 with various renewal options for additional periods. The agreements, which have been classified as operating leases, generally provide for minimum and, in some cases, percentage rentals and require us to pay all insurance, taxes and other maintenance costs. Leases with step rent provisions, escalation clauses or other lease concessions are accounted for on a straight-line basis over the lease term, which includes renewal option periods when we are reasonably assured of exercising the renewal options and includes “rent holidays” (periods in which we are not obligated to pay rent). Cash or lease incentives received upon entering into certain store leases (“tenant improvement allowances”) are recognized on a straight-line basis as a reduction to rent expense over the lease term, which includes renewal option periods when we are reasonably assured of exercising the renewal options. We record the unamortized portion of tenant improvement allowances as a part of deferred rent. We do not have leases with capital improvement funding. Percentage rentals are based on sales performance in excess of specified minimums at various stores and are accounted for in the period in which the amount of percentage rentals can be accurately estimated. Rent expense under operating leases was as follows (in millions): Fiscal Year 2016 2015 2014 Minimum $ 437.4 $ 394.5 $ 391.4 Percentage rentals 6.9 7.8 8.2 Total rent expense $ 444.3 $ 402.3 $ 399.6 Future minimum annual rentals, excluding percentage rentals, required under leases that had initial, noncancelable lease terms greater than one year, as of January 28, 2017 , are as follows (in millions): Fiscal Year Ending on or around January 31, 2018 $ 388.6 2019 295.9 2020 202.3 2021 121.5 2022 68.6 Thereafter 117.7 $ 1,194.6 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 28, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 11. Commitments and Contingencies Commitments We had bank guarantees relating primarily to international store leases and other commercial commitments totaling $24.5 million as of January 28, 2017 and $15.7 million as of January 30, 2016 . See Note 10, "Leases," for information regarding commitments related to our noncancelable operating leases. Contingencies Acquisitions In connection with our acquisition of certain assets from Cellular World and Red Skye Wireless, we recognized an acquisition-date liability of $43.2 million representing the fair value of future contingent consideration that we estimate will range from $40.0 million to $50.0 million . See Note 3, "Acquisitions and Divestitures" for additional information. Legal Proceedings In the ordinary course of business, we are, from time to time, subject to various legal proceedings, including matters involving wage and hour employee class actions, stockholder actions and consumer class actions. We may enter into discussions regarding settlement of these and other types of lawsuits, and may enter into settlement agreements, if we believe settlement is in the best interest of our stockholders. We do not believe that any such existing legal proceedings or settlements, individually or in the aggregate, will have a material effect on our financial condition, results of operations or liquidity. Certain of our French subsidiaries have been under audit by the French Tax Administration (the "FTA") for fiscal years 2008 through 2012. We received tax reassessment notices on December 23, 2015 and April 4, 2016, pursuant to which the FTA asserted that the French subsidiaries were ineligible to claim certain tax deductions from November 4, 2008, through January 31, 2013, resulting in a potential additional tax charge of approximately €85.5 million . We may receive additional tax reassessments in material amounts for subsequent fiscal years. We filed a response to each reassessment and intend to vigorously contest the reassessments through administrative procedures. If we are unable to resolve this matter through administrative remedies at the FTA, we plan to pursue judicial remedies. We believe our tax positions will be sustained and have not taken a reserve for any potential adjustment based on the reassessment. If we were not to prevail, then the adjustment to our income tax provision could be material. |
Common Stock and Share-Based Co
Common Stock and Share-Based Compensation | 12 Months Ended |
Jan. 28, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Incentive Plan | 12. Common Stock and Share-Based Compensation Common Stock The holders of Class A Common Stock are entitled to one vote per share on all matters to be voted on by stockholders. Holders of Class A Common Stock will share in any dividend declared by the Board of Directors. In the event of our liquidation, dissolution or winding up, all holders of common stock are entitled to share ratably in any assets available for distribution to holders of shares of common stock. Share Repurchase Activity. Since January 2010, our Board of Directors has authorized several share repurchase programs authorizing our management to repurchase our Class A Common Stock. Since the beginning of fiscal 2011, each individual authorization has been $500 million . We generally seek Board of Directors’ approval for a new authorization before the existing program is fully utilized to ensure we maintain availability under a repurchase program. Repurchased shares are subsequently retired. Share repurchases are generally recorded as a reduction to additional paid-in capital; however, in the event that share repurchases would cause additional-paid in capital to be reduced below zero, any excess is recorded as a reduction to retained earnings. The following table summarizes our share repurchase activity during fiscal 2016 , 2015 and 2014 (in millions, except average price paid per share): Fiscal Year 2016 2015 2014 Total number of shares purchased 3.0 5.2 8.4 Average price per share $ 24.94 $ 38.68 $ 39.50 Aggregate value of shares purchased $ 75.1 $ 202.0 $ 333.4 As of January 28, 2017 , we have $170.2 million remaining under our latest authorization from November 2014. Dividends. In February 2012, our Board of Directors approved the initiation of a quarterly cash dividend to our stockholders of Class A Common Stock. We paid a total of $1.32 per share in dividends in fiscal 2014 and a total of $1.44 per share fiscal 2015. In fiscal 2016, we paid dividends of $1.48 per share of Class A Common Stock, totaling approximately $155.5 million . On February 28, 2017 , our Board of Directors authorized an increase in our annual cash dividend from $1.48 to $1.52 per share of Class A Common Stock. Future dividends will be subject to approval by our Board of Directors. Share-Based Compensation Effective June 2013, our stockholders voted to adopt the Amended and Restated 2011 Incentive Plan (the “Amended 2011 Incentive Plan”) to provide for issuance under the 2011 Incentive Plan of our Class A Common Stock. The Amended 2011 Incentive Plan provides a maximum aggregate amount of 9.25 million shares of Class A Common Stock with respect to which options may be granted and provides for a grant of cash, granting of incentive stock options, non-qualified stock options, stock appreciation rights, performance awards, restricted stock and other share-based awards, which may include, without limitation, restrictions on the right to vote such shares and restrictions on the right to receive dividends on such shares. The options to purchase Class A common shares are issued at fair market value of the underlying shares on the date of grant. In general, the options vest and become exercisable in equal annual installments over a three -year period, commencing one year after the grant date, and expire ten years from the grant date. Shares issued upon exercise of options and vesting of restricted stock awards are newly issued shares. Options and restricted shares granted after June 21, 2011 are issued under the 2011 Incentive Plan. Effective June 2009, our stockholders voted to amend the Third Amended and Restated 2001 Incentive Plan (the “2001 Incentive Plan”) to provide for issuance under the 2001 Incentive Plan of our Class A Common Stock. The 2001 Incentive Plan provided a maximum aggregate amount of 46.5 million shares of Class A Common Stock with respect to which options may have been granted and provided for the granting of incentive stock options, non-qualified stock options, and restricted stock, which may have included, without limitation, restrictions on the right to vote such shares and restrictions on the right to receive dividends on such shares. The options to purchase Class A common shares were issued at fair market value of the underlying shares on the date of grant. In general, the options vested and became exercisable in equal annual installments over a three -year period, commencing one year after the grant date, and expired ten years from the grant date. Options and restricted shares granted on or before June 21, 2011 were issued under the 2001 Incentive Plan. Stock Options We record stock-based compensation expense in earnings based on the grant-date fair value of options granted. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. This valuation model requires the use of subjective assumptions, including expected option life and expected volatility. We use historical data to estimate the option life and the employee forfeiture rate, and use historical volatility when estimating the stock price volatility. We have not historically experienced material forfeitures with respect to the employees who currently receive stock option grants. There were no options granted during fiscal 2016 and 2015. In addition to recognizing the estimated fair value of stock-based compensation in earnings over the required service period, we are also required to present tax benefits received in excess of amounts determined based on the compensation expense recognized on the statements of cash flows. Such tax benefits are presented as a use of cash in the operating section and a source of cash in the financing section of the consolidated statements of cash flows. A summary of our stock option activity during fiscal 2016 is presented below: Shares (Millions) Weighted- Average Exercise Price Balance, January 30, 2016 1.4 $ 35.88 Exercised — 22.58 Expired (0.1 ) 47.40 Balance, January 28, 2017 1.3 35.43 The following table summarizes information as of January 28, 2017 concerning outstanding and exercisable options: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding (Millions) Weighted- Average Remaining Life (Years) Weighted- Average Exercise Price Number Exercisable (Millions) Weighted- Average Exercise Price $20.32 - $38.52 0.9 5.26 $ 28.97 0.8 $ 27.88 $49.95 0.4 1.02 49.95 0.4 49.95 $20.32 - $49.95 1.3 3.96 $ 35.43 1.2 $ 35.19 The total intrinsic value of options exercised during fiscal 2016 , 2015 and 2014 was $0.1 million , $6.7 million , and $10.7 million , respectively. The intrinsic value of both options exercisable and options outstanding was $0.3 million , as of January 28, 2017 . The fair value of each option is recognized as compensation expense on a straight-line basis between the grant date and the date the options become fully vested. During fiscal 2016 , 2015 and 2014 , we included compensation expense relating to the grant of these options in the amount of $0.9 million , $2.6 million and $2.1 million , respectively, in selling, general and administrative expenses. As of January 28, 2017 , there was $0.1 million of unrecognized compensation expense related to the nonvested portion of our stock options that is expected to be recognized over a period of less than one year. Restricted Stock Awards The fair value of each restricted stock award is recognized as compensation expense on a straight-line basis between the grant date and the date the restricted stock awards become fully vested. We grant restricted stock awards to certain of our employees, officers and non-employee directors. Restricted stock awards generally vest over a three-year period on the anniversary of the date of issuance, subject to continued service to the Company and, in some cases, subject to the attainment of certain performance measures. The following table presents a summary of our restricted stock awards activity during fiscal 2016 : Shares (Millions) Weighted- Average Grant Date Fair Value Nonvested shares at January 30, 2016 1.5 $ 33.77 Granted 0.8 30.27 Vested (0.9 ) 30.02 Forfeited (0.1 ) 33.14 Nonvested shares at January 28, 2017 1.3 $ 34.31 In fiscal 2016 , we granted 602 thousand shares of restricted stock most of which vest in equal annual installments over three years. At the same time, we granted an additional 206 thousand shares of restricted stock that are subject to performance targets which will be measured following the completion of fiscal 2017. These grants will vest one year after measurement to the extent earned. Shares subject to performance measures may generally be earned in greater or lesser percentages if targets are exceeded or not achieved by specified amounts. In fiscal 2015 , we granted 646 thousand shares of restricted stock with a weighted-average grant date fair value of $40.34 per common share with fair value being determined by the quoted market price of our common stock on the date of grant. Included in this grant are 429 thousand shares of restricted stock that vest in equal annual installments over three years and 28 thousand shares of restricted stock that vest in a single installment over one year. Also included in this grant are 189 thousand shares of restricted stock that were subject to performance targets measured upon the completion of fiscal 2016, which were partially met. These grants will vest one year after measurement. Shares subject to performance measures may generally be earned in greater or lesser percentages if targets are exceeded or not achieved by specified amounts. During fiscal 2016 , 2015 and 2014 , we included compensation expense relating to the grants of restricted shares in the amounts of $16.9 million , $27.3 million and $19.4 million , respectively, in selling, general and administrative expenses in the accompanying consolidated statements of operations. The fiscal 2016 compensation expense associated with the restricted shares is net of adjustments totaling $5.9 million relating to performance measures that were not fully met. As of January 28, 2017 , there was $21.1 million of unrecognized compensation expense related to nonvested restricted shares that is expected to be recognized over a weighted-average period of 1.7 years. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Jan. 28, 2017 | |
Earnings Per Share [Abstract] | |
Computation of Net Income (Loss) per Common Share | 13. Earnings Per Share Basic net income per common share is computed by dividing the net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing the net income available to common stockholders by the weighted-average number of common shares outstanding and potentially dilutive securities outstanding during the period. Potentially dilutive securities include stock options and unvested restricted stock outstanding during the period, using the treasury stock method. Potentially dilutive securities are excluded from the computations of diluted earnings per share if their effect would be antidilutive. A reconciliation of shares used in calculating basic and diluted net income per common share is as follows (in millions, except per share data): Fiscal Year 2016 2015 2014 Net income $ 353.2 $ 402.8 $ 393.1 Weighted-average common shares outstanding 103.4 106.0 112.2 Dilutive effect of stock options and restricted stock awards 0.4 0.7 1.0 Weighted-average diluted common shares 103.8 106.7 113.2 Basic earnings per share $ 3.42 $ 3.80 $ 3.50 Diluted earnings per share $ 3.40 $ 3.78 $ 3.47 Anti-dilutive stock options and restricted stock awards 1.4 1.0 1.6 |
Employees' Defined Contribution
Employees' Defined Contribution Plan | 12 Months Ended |
Jan. 28, 2017 | |
Text Block [Abstract] | |
Employees' Defined Contribution Plan | 14. Employees’ Defined Contribution Plan We sponsor a defined contribution plan (the “Savings Plan”) for the benefit of substantially all of our U.S. employees who meet certain eligibility requirements, primarily age and length of service. The Savings Plan allows employees to invest up to 60% , for a maximum of $18 thousand a year for 2016 , of their eligible gross cash compensation invested on a pre-tax basis. Our optional contributions to the Savings Plan are generally in amounts based upon a certain percentage of the employees’ contributions. Our contributions to the Savings Plan during fiscal 2016 , 2015 and 2014 , were $7.8 million , $6.3 million and $5.2 million , respectively. |
Significant Products
Significant Products | 12 Months Ended |
Jan. 28, 2017 | |
Significant Products [Abstract] | |
Significant Products | 15. Significant Products The tables below set forth net sales, percentages of total net sales, gross profit and gross profit percentages by significant product category for the periods indicated (dollars in millions). We have revised the classification of sales and gross profit of mobile and consumer electronics and other when presenting financial information for significant product categories in this Annual Report on Form 10-K ("Report"). Prior to this Report, we presented a product category labeled "mobile and consumer electronics" which was comprised of mobile and consumer electronics sold through our Video Game Brands segments and Technology Brands segment. We also included sales and gross profit of collectibles in "Other." In this Report, sales and gross profit of mobile and consumer electronics generated by our Technology Brands segment are separately presented as "Technology Brands" and sales and gross profit of mobile and consumer electronics generated by our Video Game Brands segments are included in "Other." In addition, sales and gross profit of collectibles are separately presented as "Collectibles." We believe this presentation of our product categories is more meaningful to our investors considering (i) gross margins of mobile and consumer electronics in our Technology Brands segment differ from our Video Game Brands segments and (ii) sales of collectibles have grown significantly. Sales and gross profit data for prior periods have been recast to the current period presentation. Fiscal Year 2016 Fiscal Year 2015 Fiscal Year 2014 Net Sales Percent of Total Net Sales Percent of Total Net Sales Percent of Total New video game hardware (1) $ 1,396.7 16.2 % $ 1,944.7 20.8 % $ 2,028.7 21.8 % New video game software 2,493.4 29.0 2,905.1 31.0 3,089.0 33.2 Pre-owned and value video game products 2,254.1 26.2 2,374.7 25.4 2,389.3 25.7 Video game accessories 676.7 7.9 703.0 7.5 653.6 7.1 Digital 181.0 2.1 188.3 2.0 216.3 2.3 Technology Brands (2) 814.0 9.5 534.0 5.7 328.6 3.5 Collectibles 494.1 5.7 309.7 3.3 75.8 0.8 Other (3) 297.9 3.4 404.3 4.3 514.7 5.6 Total $ 8,607.9 100.0 % $ 9,363.8 100.0 % $ 9,296.0 100.0 % Fiscal Year 2016 Fiscal Year 2015 Fiscal Year 2014 Gross Profit Gross Profit Percent Gross Profit Gross Profit Percent Gross Profit Gross Profit Percent New video game hardware (1) $ 154.2 11.0 % $ 175.5 9.0 % $ 196.6 9.7 % New video game software 600.4 24.1 689.3 23.7 716.9 23.2 Pre-owned and value video game products 1,044.1 46.3 1,114.5 46.9 1,146.3 48.0 Video game accessories 235.2 34.8 255.5 36.3 246.1 37.7 Digital 155.5 85.9 149.6 79.4 152.0 70.3 Technology Brands (2) 554.6 68.1 306.6 57.4 169.1 51.5 Collectibles 171.6 34.7 116.6 37.6 31.9 42.1 Other (3) 93.7 31.5 110.7 27.4 117.0 22.7 Total $ 3,009.3 35.0 % $ 2,918.3 31.2 % $ 2,775.9 29.9 % ___________________ (1) Includes sales of hardware bundles, in which physical hardware and digital or physical software are sold together as a single SKU. (2) Includes mobile and consumer electronics sold through our Technology Brands segment, which includes the operations of our Spring Mobile managed AT&T and Cricket Wireless branded stores and our Simply Mac business. (3) Includes sales of PC entertainment software, interactive game figures, strategy guides, mobile and consumer electronics sold through our Video Game Brands segments, and revenues from PowerUp Pro loyalty members receiving Game Informer magazine in print form. |
Segment Information
Segment Information | 12 Months Ended |
Jan. 28, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | 16. Segment Information We report our business in four geographic Video Game Brands segments: United States, Canada, Australia and Europe; and a Technology Brands segment, which includes the operations of our Spring Mobile managed AT&T and Cricket Wireless branded stores and our Simply Mac business. We identify segments based on a combination of geographic areas and management responsibility. Each of the segments includes significant retail operations with all Video Game Brands stores engaged in the sale of new and pre-owned video game systems, software, accessories and collectibles, and Technology Brands stores engaged in the sale of wireless products and services and other consumer electronics. Our Video Game Brands segments also include stand-alone collectibles stores. Segment results for the United States include retail operations in 50 states, the District of Columbia and Guam; our e-commerce websites www.gamestop.com and www.thinkgeek.com; Game Informer magazine; and Kongregate, our leading web and mobile gaming platform. Segment results for Canada include retail and e-commerce operations in Canada and segment results for Australia include retail and e-commerce operations in Australia and New Zealand. Segment results for Europe include retail operations in 10 European countries and e-commerce operations in four countries. The Technology Brands segment includes retail operations in the United States. We measure segment profit using operating earnings, which is defined as income from continuing operations before intercompany royalty fees, net interest expense and income taxes. Transactions between reportable segments consist primarily of royalties, management fees, intersegment loans and related interest. There were no material intersegment sales during fiscal 2016 , 2015 and 2014 . Information on segments and the reconciliation of segment profit to earnings (loss) before income taxes are as follows (in millions): As of and for the Fiscal Year Ended January 28, 2017 United States Canada Australia Europe Technology Brands Consolidated Net sales $ 5,488.9 $ 382.0 $ 609.5 $ 1,313.5 $ 814.0 $ 8,607.9 Segment operating earnings 430.2 22.4 34.9 26.0 44.2 557.7 Interest income 0.8 Interest expense (53.8 ) Earnings before income taxes $ 504.7 Other Information: Goodwill $ 1,199.7 $ 28.6 $ 70.1 $ 74.8 $ 352.0 $ 1,725.2 Other long-lived assets 285.5 23.0 56.5 214.6 530.4 1,110.0 Total assets 2,583.3 271.6 434.6 567.9 1,118.5 4,975.9 Income tax expense (benefit) 140.6 6.0 7.7 (15.1 ) 12.3 151.5 Depreciation and amortization 92.9 3.8 9.4 25.0 34.1 165.2 Capital expenditures $ 61.8 $ 1.3 $ 15.1 $ 25.8 $ 38.7 $ 142.7 As of and for the Fiscal Year Ended January 30, 2016 United States Canada Australia Europe Technology Brands Consolidated Net sales $ 6,435.1 $ 446.6 $ 591.4 $ 1,356.7 $ 534.0 $ 9,363.8 Segment operating earnings 504.3 29.4 38.7 48.8 27.0 648.2 Interest income 0.4 Interest expense (23.4 ) Earnings before income taxes $ 625.2 Other Information: Goodwill $ 1,195.5 $ 26.9 $ 65.7 $ 75.7 $ 112.9 $ 1,476.7 Other long-lived assets 329.9 17.6 47.0 200.3 321.3 916.1 Total assets 2,698.5 259.2 382.2 401.7 588.7 4,330.3 Income tax expense 195.0 6.1 8.3 4.1 8.9 222.4 Depreciation and amortization 98.8 3.5 8.8 24.3 21.2 156.6 Capital expenditures $ 76.9 $ 4.4 $ 12.8 $ 20.2 $ 58.9 $ 173.2 As of and for the Fiscal Year Ended January 31, 2015 United States Canada Australia Europe Technology Brands Consolidated Net sales $ 6,193.5 $ 476.4 $ 644.7 $ 1,652.8 $ 328.6 $ 9,296.0 Segment operating earnings 483.2 28.3 38.0 35.9 32.9 618.3 Interest income 0.7 Interest expense (10.7 ) Earnings before income taxes $ 608.3 Other Information: Goodwill $ 1,143.3 $ 29.5 $ 72.1 $ 78.9 $ 66.6 $ 1,390.4 Other long-lived assets 324.0 18.4 46.4 214.1 185.9 788.8 Total assets 2,734.4 252.1 382.5 527.2 344.2 4,240.4 Income tax expense (benefit) 198.1 4.2 8.4 (6.7 ) 11.2 215.2 Depreciation and amortization 102.5 3.8 9.6 30.8 7.7 154.4 Capital expenditures $ 92.3 $ 5.1 $ 11.2 $ 19.9 $ 31.1 $ 159.6 |
Unaudited Quarterly Financial I
Unaudited Quarterly Financial Information | 12 Months Ended |
Jan. 28, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Unaudited Quarterly Financial Information | 17. Unaudited Quarterly Financial Information The following table sets forth certain unaudited quarterly consolidated statement of operations information for the fiscal years ended January 28, 2017 and January 30, 2016 (in millions, except per share amounts). The unaudited quarterly information includes all normal recurring adjustments that our management considers necessary for a fair presentation of the information shown. Fiscal Year 2016 Fiscal Year 2015 1st Quarter 2nd Quarter 3rd Quarter 4th (1) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter (1) Net sales $ 1,971.5 $ 1,631.8 $ 1,959.2 $ 3,045.4 $ 2,060.6 $ 1,761.9 $ 2,016.3 $ 3,525.0 Gross profit 675.5 617.7 708.2 1,007.9 639.0 580.5 655.6 1,043.2 Operating earnings 114.0 58.3 98.8 286.6 123.9 51.7 90.7 381.9 Net income 65.8 27.9 50.8 208.7 73.8 25.3 55.9 247.8 Earnings per share: Basic (2) $ 0.63 $ 0.27 $ 0.49 $ 2.04 $ 0.68 $ 0.24 $ 0.53 $ 2.38 Diluted (2) 0.63 0.27 0.49 2.04 0.68 0.24 0.53 2.36 Dividend declared per common share $ 0.37 $ 0.37 $ 0.37 $ 0.37 $ 0.36 $ 0.36 $ 0.36 $ 0.36 ___________________ The following footnotes are discussed as pretax expenses. (1) The results of operations for the fourth quarter of fiscal 2016 include asset impairments of $33.8 million . The results of operations for the fourth quarter of fiscal 2015 include asset impairments of $4.6 million . (2) The sum of the quarters may not necessarily be equal to the full year net income per common share amount. |
Summary of Significant Accoun26
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 28, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation and Consolidation Our consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. All dollar and share amounts (other than dollar amounts per share) in the consolidated financial statements are stated in millions unless otherwise indicated. Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2016 consisted of the 52 weeks ended on January 28, 2017 ("fiscal 2016"). Fiscal year 2015 consisted of the 52 weeks ended on January 30, 2016 ("fiscal 2015"). Fiscal year 2014 consisted of the 52 weeks ended on January 31, 2015 ("fiscal 2014"). |
Concentration Risk Disclosure [Text Block] | Our largest vendors in our Video Game Brands segments are Sony, Microsoft, Nintendo, Electronic Arts and Activision, which accounted for 24% , 14% , 10% , 7% and 6% , respectively, of our new product purchases in fiscal year 2016; 27% , 19% , 11% , 10% and 9% , respectively, in fiscal year 2015 ; and 24% , 17% , 11% , 8% and 10% , respectively, in fiscal year 2014 . |
Nature of Operations [Text Block] | The Company GameStop Corp. (“GameStop,” “we,” “us,” “our,” or the “Company”) is a global family of specialty retail brands. Through our 6,013 video game brand stores and e-commerce sites in eight countries, we are the world's largest omnichannel retailer of video game products. We also offer mobile and consumer technology products through our 1,403 AT&T authorized retailer stores, 69 Cricket pre-paid wireless stores and 50 Simply Mac stores, a certified reseller of Apple consumer electronic products. In addition, we are a leading retailer of collectible pop-culture themed products. We have five reportable segments, which are comprised of four geographic Video Game Brands segments—United States, Canada, Australia and Europe—and a Technology Brands segment. Our Technology Brands segment includes our Spring Mobile and Simply Mac businesses. Spring Mobile owns and operates our AT&T branded wireless retail stores and Cricket branded pre-paid wireless stores. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Our indefinite-lived intangible assets consist of dealer agreements and trade names. Intangible assets that are determined to have an indefinite life are not amortized, but are required to be evaluated at least annually for impairment. If the carrying value of an individual indefinite-lived intangible asset exceeds its fair value, such individual indefinite-lived intangible asset is impaired by the amount of the excess. The fair value of our dealer agreements are estimated using a discounted cash flow analysis known as the Greenfield Method, which assumes that a business, at its inception, owns only dealer agreements and must make capital expenditure, working capital and other investments to ramp up its operations to a level that is comparable to its current operations. The fair value of our trade names are estimated by using a relief-from-royalty approach, which assumes the value of the trade name is the discounted cash flows of the amount that would be paid by a hypothetical market participant had they not owned the trade name and instead licensed the trade name from another company. As a result of our fiscal 2016 annual impairment testing, we recognized impairment charges totaling $14.4 million associated with our trade names and dealer agreements. See Note 6, "Goodwill and Intangible Assets" for additional information. No impairment charges associated with our indefinite-lived intangible assets were recognized in fiscal 2015 and 2014. Our definite-lived intangible assets consist primarily of customer relationships, leasehold rights, advertising relationships and amounts attributed to favorable leasehold interests recorded as a result of business acquisitions. The estimated useful life and amortization methodology of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows. Intangible assets that are determined to have a definite life are amortized over that period. |
Business Combinations Policy [Policy Text Block] | Business Combinations Business combinations are accounted for under the acquisition method of accounting. Under this method, the assets acquired and liabilities assumed are recognized at their respective fair values as of the date of acquisition. The excess, if any, of the acquisition price over the fair values of the assets acquired and liabilities assumed is recorded as goodwill. For significant acquisitions, we utilize third-party appraisal firms to assist us in determining the fair values for certain assets acquired and liabilities assumed. Adjustments to the fair values of assets acquired and liabilities assumed are made until we obtain all relevant information regarding the facts and circumstances that existed as of the acquisition date, not to exceed one year from the date of the acquisition (the "measurement period"). Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings. Costs associated with business acquisitions are expensed as incurred. Over the past several years, we have acquired certain AT&T authorized retailers and in 2015, we acquired Geeknet, Inc. an online and wholesale retailer of collectibles and other products. See Note 3, "Acquisitions and Divestitures" for additional information. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents We consider all short-term, highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Our cash and cash equivalents are carried at cost, which approximates market value, and consist primarily of time deposits with highly rated commercial banks. From time to time depending upon interest rates, credit worthiness and other factors, we invest in money market investment funds holding direct U.S. Treasury obligations. |
Restricted Cash | Restricted Cash We consider bank deposits serving as collateral for bank guarantees issued on behalf of our foreign subsidiaries as restricted cash, which is included in other noncurrent assets in our consolidated balance sheets. Our restricted cash was $10.2 million and $9.7 million as of January 28, 2017 and January 30, 2016 , respectively. |
Merchandise Inventories | Merchandise Inventories Our merchandise inventories are carried at the lower of cost or market generally using the average cost method. Under the average cost method, as new product is received from vendors, its current cost is added to the existing cost of product on-hand and this amount is re-averaged over the cumulative units. Pre-owned video game products traded in by customers are recorded as inventory at the amount of the store credit given to the customer. We are required to make adjustments to inventory to reflect potential obsolescence or over-valuation as a result of cost exceeding market. In valuing inventory, we consider quantities on hand, recent sales, potential price protections, returns to vendors and other factors. Our ability to assess these factors is dependent upon our ability to forecast customer demand and to provide a well-balanced merchandise assortment. Inventory is adjusted based on anticipated physical inventory losses or shrinkage and actual losses resulting from periodic physical inventory counts. Inventory reserves as of January 28, 2017 and January 30, 2016 were $59.0 million and $61.5 million , respectively. |
Property and Equipment | Property and Equipment Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation on furniture, fixtures and equipment is computed using the straight-line method over their estimated useful lives ranging from two to ten years. Maintenance and repairs are expensed as incurred, while betterments and major remodeling costs are capitalized. Leasehold improvements are capitalized and amortized over the shorter of their estimated useful lives or the terms of the respective leases, including option periods in which the exercise of the option is reasonably assured (generally ranging from three to ten years). Costs incurred in purchasing management information systems are capitalized and included in property and equipment. These costs are amortized over their estimated useful lives from the date the technology becomes operational. Our total depreciation expense was $151.7 million , $144.9 million and $144.5 million for fiscal 2016 , 2015 and 2014 , respectively. We periodically review our property and equipment when events or changes in circumstances indicate that its carrying amounts may not be recoverable or its depreciation or amortization periods should be accelerated. We assess recoverability based on several factors, including our intention with respect to our stores and those stores’ projected undiscounted cash flows. An impairment loss is recognized for the amount by which the carrying amount of the assets exceeds its fair value, determined based on an estimate of discounted future cash flows. We recorded impairment losses of $19.4 million , $4.4 million and $1.9 million in fiscal 2016 , 2015 and 2014 , respectively. See Note 2, "Asset Impairments," for further information regarding our asset impairment charges. |
Goodwill | Goodwill and Intangible Assets Goodwill represents the excess purchase price over tangible net assets and identifiable intangible assets acquired. Intangible assets are recorded apart from goodwill if they arise from a contractual right and are capable of being separated from the entity and sold, transferred, licensed, rented or exchanged individually. We are required to evaluate goodwill and other intangible assets not subject to amortization for impairment at least annually. This annual test is completed at the beginning of the fourth quarter of each fiscal year or when circumstances indicate the carrying value of the goodwill or other intangible assets might be impaired. Goodwill has been assigned to reporting units for the purpose of impairment testing. We have five operating segments, including Video Game Brands in the United States, Australia, Canada and Europe, and Technology Brands in the United States, which also define our reporting units based upon the similar economic characteristics of operations within each segment, including the nature of products, product distribution and the type of customer and separate management within these businesses. We use a two-step process to test our goodwill for impairment. Step 1 consists of comparing the estimated fair value of the reporting unit to its carrying value, including goodwill. The estimated fair value of our reporting units is determined based on its discounted cash flows. If the carrying value of the reporting unit is higher than its estimated fair value, then the second step of the goodwill impairment test is needed. The second step compares the implied fair value of the reporting unit’s goodwill with its carrying amount. The implied fair value of goodwill is determined in Step 2 of the goodwill impairment test by valuing all of the tangible and intangible assets and liabilities of the reporting unit in a manner similar to the acquisition method of accounting used in a business combination. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of its goodwill, then an impairment loss is recognized in the amount of the excess. No goodwill impairment charges were recognized in fiscal 2016 , 2015 and 2014 . |
Revenue Recognition | Revenue Recognition We recognize revenue when the sales price is fixed or determinable, collection is reasonably assured and the customer takes possession of the merchandise, or in the case of commissions, when the commission-generating activity has been performed. Revenues do not include sales taxes or other taxes collected from customers. Revenue from the sales of our products is recognized at the time of sale, net of sales discounts and net of an estimated sales return reserve, based on historical return rates, with a corresponding reduction in cost of sales. Our sales return policy is generally limited to 30 days or less and as such our sales returns are, and historically have been, immaterial. The sales of pre-owned video game products are recorded at the retail price charged to the customer. Advertising revenues for Game Informer are recorded upon release of magazines for sale to consumers. Subscription revenues for our PowerUp Rewards loyalty program and magazines are recognized on a straight-line basis over the subscription period. Revenue from the sales of product replacement plans is recognized on a straight-line basis over the coverage period. Customer liabilities and other deferred revenues for our PowerUp Rewards loyalty program, gift cards, customer credits, magazines and product replacement plans are included in accrued liabilities (see Note 8, "Accrued Liabilities"). We also sell a variety of digital products which generally allow consumers to download software or play games on the internet. Certain of these products do not require us to purchase inventory or take physical possession of, or take title to, inventory. When purchasing these products from us, consumers pay a retail price and we earn a commission based on a percentage of the retail sale as negotiated with the product publisher. We recognize these commissions as revenue at the time of sale of these digital products. Our Spring Mobile business earns commission revenue as an AT&T authorized retailer related to the activation of new wireless customers, the activation of enhanced or upgraded features on existing wireless customer plans and certain other commission incentive opportunities that may be offered to us by AT&T. We have determined that we are not deemed the obligor on the underlying wireless services contracts that give rise to this commission revenue; therefore, commission revenue is recognized at the point at which the commission-generating activity has been performed, which is generally driven by customer activation. Commissions are recognized net of an allowance for chargebacks from AT&T for estimated customer cancellations, which is periodically assessed and adjusted to reflect historical cancellation experience. In May 2014, the Financial Accounting Standards Board issued a comprehensive update to current revenue accounting standards; see "—Recent Accounting Pronouncements" for additional information. |
Cost of Sales and Selling, General and Administrative Expenses Classification | Cost of Sales and Selling, General and Administrative Expenses Classification The classification of cost of sales and selling, general and administrative expenses varies across the retail industry. We include purchasing, receiving and distribution costs in selling, general and administrative expenses in the consolidated statements of operations. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | We include processing fees associated with purchases made by check and credit cards in cost of sales in the consolidated statements of operations. |
Customer Liabilities | Customer Liabilities We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed. In addition, breakage is recognized quarterly on unused customer liabilities older than two years to the extent that our management believes the likelihood of redemption by the customer is remote, based on historical redemption patterns. To the extent that future redemption patterns differ from those historically experienced, there will be variations in the recorded breakage. Breakage is recorded in cost of sales in our consolidated statements of operations. |
Advertising Expenses | Advertising Expenses We expense advertising costs for television, newspapers and other media when the advertising takes place. Advertising expenses for fiscal 2016 , 2015 and 2014 totaled $76.6 million , $66.6 million and $64.1 million , respectively. |
Loyalty Expenses | Loyalty Expenses Our PowerUp Rewards loyalty program allows enrolled members to earn points on purchases that can be redeemed for rewards that include discounts or merchandise. We estimate the net cost of the rewards that will be issued and redeemed and record this cost and the associated balance sheet liability as points are accumulated by loyalty program members. The two primary estimates utilized to record the balance sheet liability for loyalty points earned by members are the estimated redemption rate and the estimated weighted-average cost per point redeemed. We use historical redemption rates experienced under the loyalty program as a basis to estimate the ultimate redemption rate of points earned. The estimated weighted-average cost per point redeemed, used to estimate future redemption costs, is based on our most recent actual costs incurred to fulfill points that have been redeemed by our loyalty program members and is adjusted for recent changes in redemption costs, including the mix of rewards redeemed. We continually evaluate our methodology and assumptions based on developments in redemption patterns, cost per point redeemed and other factors. Changes in the ultimate redemption rate and weighted-average cost per point redeemed have the effect of either increasing or decreasing the liability through the current period provision by an amount estimated to cover the cost of all points previously earned but not yet redeemed by loyalty program members as of the end of the reporting period. The cost of free or discounted product is recognized in cost of sales and the associated liability is included in accrued liabilities. The reserve is released when loyalty program members redeem their respective points and the corresponding rewards are recorded to cost of goods sold in the period of redemption. The cost of administering the loyalty program, including program administration fees, program communications and cost of loyalty cards, is recognized in selling, general and administrative expenses. |
Income Taxes | Income Taxes Income tax expense includes federal, state, local and international income taxes. Income taxes are accounted for utilizing an asset and liability approach and deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the financial reporting basis and the tax basis of existing assets and liabilities using enacted tax rates. Deferred tax assets and liabilities are measured using the 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 the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. We maintain liabilities for uncertain tax positions until examination of the tax year is completed by the applicable taxing authority, available review periods expire or additional facts and circumstances cause us to change our assessment of the appropriate accrual amount. See Note 7, "Income Taxes," for additional information. We plan on permanently reinvesting our undistributed foreign earnings outside the United States. Where foreign earnings are permanently reinvested, no provision for federal income or foreign withholding taxes is made. Should we have undistributed foreign earnings that are not permanently reinvested, United States income tax expense and foreign withholding taxes will be provided for at the time the earnings are generated. |
Lease Accounting | Leases We lease retail stores, warehouse facilities, office space and equipment. These assets and properties are generally leased under noncancelable agreements that expire at various dates through 2033 with various renewal options for additional periods. The agreements, which are classified as operating leases, generally provide for minimum and, in some cases, percentage rentals and require us to pay all insurance, taxes and other maintenance costs. Leases with step rent provisions, escalation clauses or other lease concessions are accounted for on a straight-line basis over the lease term, which includes renewal option periods when we are reasonably assured of exercising the renewal options and includes “rent holidays” (periods in which we are not obligated to pay rent). Cash or lease incentives received upon entering into certain store leases (“tenant improvement allowances”) are recognized on a straight-line basis as a reduction to rent expense over the lease term, which includes renewal option periods when we are reasonably assured of exercising the renewal options. We record the unamortized portion of tenant improvement allowances as a part of deferred rent. We do not have leases with capital improvement funding. Percentage rentals are based on sales performance in excess of specified minimums at various stores and are accounted for in the period in which the amount of percentage rentals can be accurately estimated. |
Foreign Currency Translation | Foreign Currency Generally, we have determined that the functional currencies of our foreign subsidiaries are the subsidiaries’ local currencies. The assets and liabilities of the subsidiaries are translated at the applicable exchange rate as of the end of the balance sheet date and revenue and expenses are translated at an average rate over the period. Currency translation adjustments are recorded as a component of other comprehensive income. Net gains (losses) from foreign currency transactions and derivatives are included in selling, general and administrative expenses and were $4.5 million , $1.6 million and $2.5 million in fiscal 2016 , 2015 and 2014 , respectively. The foreign currency transaction gains and losses are primarily due to the decrease or increase in the value of the U.S. dollar compared to the functional currencies of the countries in which we operate internationally. We use forward exchange contracts, foreign currency options and cross-currency swaps (together, the “foreign currency contracts”) to manage currency risk primarily related to foreign-currency denominated intercompany assets and liabilities and certain other foreign currency assets and liabilities. These foreign currency contracts are not designated as hedges and, therefore, changes in the fair values of these derivatives are recognized in earnings, thereby offsetting the current earnings effect of the re-measurement of related intercompany loans and foreign currency assets and liabilities. See Note 4, "Fair Value Measurements and Financial Instruments," for additional information regarding our foreign currency contracts. |
New Accounting Pronouncements | Recent Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other, Simplifying the Test for Goodwill Impairment. The update simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill and the carrying amount. Instead, entities will record an impairment charge based on the excess of a reporting unit's carrying amount over its estimated fair value. The updated standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those years, with early adoption permitted. We intend to early adopt this standard in the first quarter of fiscal year 2017 and do not anticipate that it will have a material impact to our consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows, Classification of Certain Cash Receipts and Cash Payments, which provides guidance on eight specific cash flow issues in regard to how cash receipts and cash payments are presented and classified in the statement of cash flows. The updated standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those years, with early adoption permitted. The amendments in the ASU should be adopted on a retrospective basis unless it is impracticable to apply, in which case the amendments should be applied prospectively as of the earliest date practicable. We are currently evaluating the impact that this standard will have on our consolidated financial statements and disclosures. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. The update simplifies several aspects of accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The updated standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those years. We do not anticipate that adoption of this standard will have a material impact to our consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, which sets forth a new five-step revenue recognition model that replaces the prior revenue recognition guidance in its entirety. The underlying principle of the new standard is that an entity will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. The updated standard also required additional disclosures on the nature, timing, and uncertainty of revenue and related cash flows. The following subsequent ASUs either clarified or revised guidance set forth in ASU 2014-09: • In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year, with the option to adopt the standard as of the original effective date. • In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers, which clarifies how an entity should identify the unit of accounting (i.e. the specified good or service) for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements. The updated revenue recognition standards are effective for annual reporting periods beginning on or after December 15, 2017, with the option to early adopt for annual periods beginning after December 15, 2016. Entities may use either a full retrospective or modified retrospective transition approach in applying these ASUs. We currently anticipate adopting these standards in the first quarter of fiscal 2018 and applying the modified retrospective approach. We anticipate that the standards will affect the way that we recognize liabilities associated with our loyalty program, customer incentives and gift cards. We continue to evaluate the impact that this standard will have on our consolidated financial statements and footnote disclosures. In March 2016, the FASB issued ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products. The standard specifies how prepaid stored-value product liabilities should be derecognized, thereby eliminating the current and potential future diversity in practice. Consistent with ASU 2014-09 related to revenue recognition, the standard requires derecognition in proportion with the rights expected to be exercised by the holder. Entities may adopt this standard using either a modified retrospective transition approach with a cumulative-effect adjustment to retained earnings or a full retrospective transition approach. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with early adoption permitted. We do not anticipate that adoption of this standard will have a material impact to our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. The standard requires a lessee to recognize a liability related to lease payments and an offsetting right-of-use asset representing a right to use the underlying asset for the lease term on the balance sheet. Entities are required to use a modified retrospective transition approach for leases that exist or are entered into after the beginning of the earliest comparative period presented in the financial statements, with certain reliefs available. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the overall impact to our consolidated financial statements, though we expect the adoption to result in a material increase in the assets and liabilities reflected in our consolidated balance sheets. |
Cost of Sales, Vendor Allowances, Policy [Policy Text Block] | Vendor Arrangements We and most of our largest vendors participate in cooperative advertising programs and other vendor marketing programs in which the vendors provide us with cash consideration in exchange for marketing and advertising the vendors’ products. Our accounting for cooperative advertising arrangements and other vendor marketing programs results in a significant portion of the consideration received from our vendors reducing the product costs in inventory rather than as an offset to our marketing and advertising costs. The consideration serving as a reduction in inventory is recognized in cost of sales as inventory is sold. The amount of vendor allowances to be recorded as a reduction of inventory is determined based on the nature of the consideration received and the merchandise inventory to which the consideration relates. We apply a sell-through rate to determine the timing in which the consideration should be recognized in cost of sales. Consideration received that relates to video game products that have not yet been released to the public is deferred as a reduction of inventory. The cooperative advertising programs and other vendor marketing programs generally cover a period from a few days up to a few weeks and include items such as product catalog advertising, in-store display promotions, internet advertising, co-op print advertising and other programs. The allowance for each event is negotiated with the vendor and requires specific performance by us to be earned. Vendor allowances of $184.3 million , $208.2 million and $202.4 million were recorded as a reduction of cost of sales for fiscal 2016 , 2015 and 2014 , respectively. |
Summary of Significant Accoun27
Summary of Significant Accounting Policies Adoption of New Accounting Pronouncement (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recently Adopted Accounting Pronouncements In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2015-03, Simplifying the Presentation of Debt Issuance Costs. This standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 became effective for interim and annual reporting periods beginning after December 15, 2015. We adopted this guidance as of January 31, 2016, and as a result have recast the January 30, 2016 consolidated balance sheet and information disclosed in Note 9 and Note 16 to conform to the current period presentation. The adoption of this standard reduced previously presented prepaid expenses and other current assets by $1.3 million , other noncurrent assets by $3.3 million and long-term debt by $4.6 million , for the period ended January 30, 2016 based upon the balance of unamortized debt financing costs relating to our senior notes due in 2019. |
Asset Impairments (Tables)
Asset Impairments (Tables) | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Text Block [Abstract] | |||
Schedule Of Asset Impairment | A summary of our asset impairment charges, by reportable segment, for fiscal 2016 is as follows (in millions): United States Canada Europe Technology Brands Total Impairments of intangible assets $ — $ — $ 7.4 $ 7.0 $ 14.4 Impairments of property, equipment and other assets - store impairments 0.3 0.2 2.3 16.6 19.4 Total $ 0.3 $ 0.2 $ 9.7 $ 23.6 $ 33.8 There were no asset impairment charges in our Australia Video Game Brands segment during fiscal 2016 | A summary of our asset impairment charges, by reportable segment, for fiscal 2015 is as follows (in millions): United States Europe Technology Brands Total Impairments of intangible assets $ — $ 0.2 $ — $ 0.2 Impairments of property, equipment and other assets - store impairments 2.8 0.6 1.0 4.4 Total $ 2.8 $ 0.8 $ 1.0 $ 4.6 | A summary of our asset impairment charges, by reportable segment, for fiscal 2014 is as follows (in millions): United States Canada Europe Total Impairments of intangible assets $ — $ — $ 0.3 $ 0.3 Impairments of property, equipment and other assets - store impairments 0.6 0.4 0.9 1.9 Total $ 0.6 $ 0.4 $ 1.2 $ 2.2 There were no asset impairment charges in our Australia Video Game Brands or Technology Brands segments during fiscal 2014 . |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): Assets acquired Merchandise inventories $ 13.1 Prepaid expenses and other current assets 0.2 Property and equipment 23.9 Goodwill 239.1 Other intangible asset — dealer agreements 163.0 Other noncurrent assets 6.9 Total assets acquired 446.2 Liabilities assumed Accounts payable 9.5 Accrued liabilities 0.2 Total liabilities assumed 9.7 Total estimated purchase price $ 436.5 |
Fair Value Measurements and F30
Fair Value Measurements and Financial Instruments (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities Measured on a Recurring Basis | The following table provides the fair value of our assets and liabilities measured on a recurring basis and recorded on our consolidated balance sheets (in millions): January 28, 2017 January 30, 2016 Level 2 Level 3 Level 2 Level 3 Assets: Foreign currency contracts Other current assets $ 13.3 $ — $ 40.6 $ — Other noncurrent assets 0.1 — 0.1 — Company-owned life insurance (1) 12.4 — 10.1 — Total assets $ 25.8 $ — $ 50.8 $ — Liabilities: Foreign currency contracts Accrued liabilities $ 4.3 $ — $ 32.3 $ — Other long-term liabilities 0.1 — 0.5 — Nonqualified deferred compensation (2) 1.0 — 1.1 — Contingent consideration (3) — 43.2 — — Total liabilities $ 5.4 $ 43.2 $ 33.9 $ — |
Gains and Losses on Derivative Instruments and Foreign Currency Transaction | Activity related to the trading of derivative instruments and the offsetting impact of related intercompany and foreign currency assets and liabilities recognized in selling, general and administrative expense is as follows (in millions): Fiscal Year 2016 2015 2014 Gains (losses) on the changes in fair value of derivative instruments $ 20.0 $ (5.2 ) $ 28.9 Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities (15.5 ) 6.8 (26.4 ) Total $ 4.5 $ 1.6 $ 2.5 |
Receivables, Net (Tables)
Receivables, Net (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Receivables [Abstract] | |
Receivables | Receivables consisted of the following (in millions): January 28, 2017 January 30, 2016 Bankcard receivables $ 39.5 $ 37.7 Vendor receivables 143.3 119.3 Technology brands carrier receivables 41.0 24.1 Other receivables 2.8 0.8 Allowance for doubtful accounts (5.7 ) (5.4 ) Total receivables, net $ 220.9 $ 176.5 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes in Carrying Amount of Goodwill for Company's Business Segments | The changes in the carrying amount of goodwill, by reportable segment, for fiscal 2015 and 2016 were as follows (in millions): United States Canada Australia Europe Technology Brands Total Balance at January 31, 2015 $ 1,143.3 $ 29.5 $ 72.1 $ 78.9 $ 66.6 $ 1,390.4 Acquisitions (Note 3) 52.2 — — — 46.3 98.5 Foreign currency translation adjustment — (2.6 ) (6.4 ) (3.2 ) — (12.2 ) Balance at January 30, 2016 1,195.5 26.9 65.7 75.7 112.9 1,476.7 Acquisitions (Note 3) 4.2 — — — 239.1 243.3 Foreign currency translation adjustment — 1.7 4.4 (0.9 ) — 5.2 Balance at January 28, 2017 $ 1,199.7 $ 28.6 $ 70.1 $ 74.8 $ 352.0 $ 1,725.2 |
Schedule of Intangible Assets Other Than Goodwill | The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of January 28, 2017 and January 30, 2016 were as follows (in millions): January 28, 2017 January 30, 2016 Gross Carrying Amount (1) Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets with indefinite lives: Trade names $ 43.7 $ — $ 43.7 $ 51.7 $ — $ 51.7 Dealer agreements 409.3 — 409.3 210.6 — 210.6 Intangible assets with finite lives: Leasehold rights 86.4 (51.4 ) 35.0 87.5 (46.2 ) 41.3 Customer relationships 14.5 (4.1 ) 10.4 14.5 (1.5 ) 13.0 Other 39.5 (30.7 ) 8.8 39.1 (25.3 ) 13.8 Total $ 593.4 $ (86.2 ) $ 507.2 $ 403.4 $ (73.0 ) $ 330.4 ___________________ (1) The change in the gross carrying amount of intangible assets from January 30, 2016 to January 28, 2017 is due to acquisitions (Note 3), impairments (Note 2), and the impact of exchange rate fluctuations. |
Estimated Aggregate Amortization Expenses for Deferred Financing Fees and Other Intangible Assets for Next Five Fiscal Years | The estimated aggregate intangible asset amortization expense for the next five fiscal years is as follows (in millions): Fiscal Year Ending on or around January 31, Projected Amortization Expense 2018 $ 13.5 2019 11.3 2020 8.6 2021 6.0 2022 4.0 $ 43.4 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Tax | The provision for income taxes consisted of the following (in millions): Fiscal Year 2016 2015 2014 Current tax expense: Federal $ 143.8 $ 178.7 $ 158.4 State 13.5 16.3 18.0 Foreign 29.2 28.9 29.6 186.5 223.9 206.0 Deferred tax expense (benefit): Federal (1.2 ) 0.2 29.3 State (0.2 ) 3.6 (3.3 ) Foreign (33.6 ) (5.3 ) (16.8 ) (35.0 ) (1.5 ) 9.2 Total income tax expense $ 151.5 $ 222.4 $ 215.2 |
Components of Earnings Before Income Tax expense | The components of earnings before income tax expense consisted of the following (in millions): Fiscal Year 2016 2015 2014 United States $ 446.8 $ 553.5 $ 558.8 International 57.9 71.7 49.5 Total $ 504.7 $ 625.2 $ 608.3 |
Difference in Income Tax Provided and Amounts Determined by Applying Statutory Rate to Income Before Income Taxes | The following is a reconciliation of income tax expense (benefit) computed at the U.S. Federal statutory tax rate to income tax expense (benefit) reported in our consolidated statements of operations: Fiscal Year 2016 2015 2014 Federal statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal effect 1.7 2.1 2.0 Foreign income tax rate differential (0.9 ) (1.0 ) (0.4 ) Change in valuation allowance 4.1 (0.9 ) 1.8 Change in unrecognized tax benefits 2.3 0.9 (0.2 ) Subpart F income 1.3 0.9 2.7 Interest income from hybrid securities (0.6 ) (1.6 ) (5.2 ) Realization of losses in foreign operations not previously benefited (1) (8.3 ) — (2.2 ) Loss on investment in foreign subsidiary (3.2 ) — — Other (including permanent differences) (2) (1.4 ) 0.2 1.9 30.0 % 35.6 % 35.4 % ___________________ (1) In fiscal 2016, we adopted a plan of reorganization specific to certain foreign operations which resulted in our ability to recognize the benefit of foreign net operating loss carryforwards that were previously unrecognized in affected jurisdictions. As a result, we recognized a tax benefit of $42.1 million in the fourth quarter of fiscal 2016, which is subject to a partial valuation allowance of $14.8 million . The valuation allowance established for this tax benefit is reflected in the line item “Change in valuation allowance.” (2) Other is comprised of numerous items, none of which is greater than 1.75% of earnings before income taxes. |
Components of Deferred Tax Assets and Liabilities | (1) In fiscal 2016, we adopted a plan of reorganization specific to certain foreign operations which resulted in our ability to recognize the benefit of foreign net operating loss carryforwards that were previously unrecognized in affected jurisdictions. As a result, we recognized a tax benefit of $42.1 million in the fourth quarter of fiscal 2016, which is subject to a partial valuation allowance of $14.8 million . The valuation allowance established for this tax benefit is reflected in the line item “Change in valuation allowance.” (2) Other is comprised of numerous items, none of which is greater than 1.75% of earnings before income taxes. Differences between financial accounting principles and tax laws cause dif |
Reconciliation of Changes in Gross Balances of Unrecognized Tax Benefits | A reconciliation of the changes in the gross balances of unrecognized tax benefits follows (in millions): Fiscal Year 2016 2015 2014 Beginning balance of unrecognized tax benefits $ 31.9 $ 21.4 $ 20.6 Increases related to current period tax positions 3.5 4.0 1.0 Increases related to prior period tax positions 7.9 9.0 6.1 Reductions as a result of a lapse of the applicable statute of limitations (0.2 ) (1.0 ) (0.5 ) Reductions as a result of settlements with taxing authorities (1.0 ) (1.5 ) (5.8 ) Ending balance of unrecognized tax benefits $ 42.1 $ 31.9 $ 21.4 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Payables and Accruals [Abstract] | |
Accrued Liabilities | Accrued liabilities consisted of the following (in millions): January 28, 2017 January 30, 2016 Customer liabilities $ 342.5 $ 341.6 Deferred revenue 131.5 112.8 Employee benefits, compensation and related taxes 147.7 156.4 Checks and transfers yet to be presented for payment from zero balance cash accounts 268.4 264.9 Other taxes 52.0 52.9 Other accrued liabilities (1) 148.8 112.8 Total accrued liabilities $ 1,090.9 $ 1,041.4 (1) Includes the current portion of acquisition-related contingent consideration of $20.0 million . See Note 3, "Acquisitions and Divestitures" for additional information. |
Debt Debt (Tables)
Debt Debt (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | The carrying value of our long-term debt is comprised as follows (in millions): January 28, 2017 January 30, 2016 2019 Senior Notes principal amount $ 350.0 $ 350.0 2021 Senior Notes principal amount 475.0 — Less: Unamortized debt financing costs (1) (10.0 ) (4.6 ) Long-term debt, net $ 815.0 $ 345.4 (1) Includes the reclassification of debt financing costs as of January 30, 2016 from "Prepaid expenses and other current assets" and “Other noncurrent assets” as a result of the Company adopting ASU 2015-03. See Note 1. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Leases [Abstract] | |
Approximate Rental Expenses Under Operating Leases | ent expense under operating leases was as follows (in millions): Fiscal Year 2016 2015 2014 Minimum $ 437.4 $ 394.5 $ 391.4 Percentage rentals 6.9 7.8 8.2 Total rent expense $ 444.3 $ 402.3 $ 399.6 |
Future Minimum Annual Rentals, Excluding Percentage Rentals, Under Initial Noncancelable Lease Terms | Future minimum annual rentals, excluding percentage rentals, required under leases that had initial, noncancelable lease terms greater than one year, as of January 28, 2017 , are as follows (in millions): Fiscal Year Ending on or around January 31, 2018 $ 388.6 2019 295.9 2020 202.3 2021 121.5 2022 68.6 Thereafter 117.7 $ 1,194.6 |
Common Stock and Share-Based 37
Common Stock and Share-Based Compensation (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Assumptions used to Estimate Fair value of Each Option Grant | There were no options granted during fiscal 2016 and 2015. |
Summary of Status of Company's Stock Options | A summary of our stock option activity during fiscal 2016 is presented below: Shares (Millions) Weighted- Average Exercise Price Balance, January 30, 2016 1.4 $ 35.88 Exercised — 22.58 Expired (0.1 ) 47.40 Balance, January 28, 2017 1.3 35.43 |
Summary of Outstanding and Exercisable Options | The following table summarizes information as of January 28, 2017 concerning outstanding and exercisable options: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding (Millions) Weighted- Average Remaining Life (Years) Weighted- Average Exercise Price Number Exercisable (Millions) Weighted- Average Exercise Price $20.32 - $38.52 0.9 5.26 $ 28.97 0.8 $ 27.88 $49.95 0.4 1.02 49.95 0.4 49.95 $20.32 - $49.95 1.3 3.96 $ 35.43 1.2 $ 35.19 |
Summary of Company's Restricted Stock Awards Activity | The following table presents a summary of our restricted stock awards activity during fiscal 2016 : Shares (Millions) Weighted- Average Grant Date Fair Value Nonvested shares at January 30, 2016 1.5 $ 33.77 Granted 0.8 30.27 Vested (0.9 ) 30.02 Forfeited (0.1 ) 33.14 Nonvested shares at January 28, 2017 1.3 $ 34.31 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Earnings Per Share [Abstract] | |
Reconciliation of Shares Used in Calculating Basic and Diluted Net Income (Loss) Per Common Share | A reconciliation of shares used in calculating basic and diluted net income per common share is as follows (in millions, except per share data): Fiscal Year 2016 2015 2014 Net income $ 353.2 $ 402.8 $ 393.1 Weighted-average common shares outstanding 103.4 106.0 112.2 Dilutive effect of stock options and restricted stock awards 0.4 0.7 1.0 Weighted-average diluted common shares 103.8 106.7 113.2 Basic earnings per share $ 3.42 $ 3.80 $ 3.50 Diluted earnings per share $ 3.40 $ 3.78 $ 3.47 Anti-dilutive stock options and restricted stock awards 1.4 1.0 1.6 |
Significant Products (Tables)
Significant Products (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Significant Products [Abstract] | |
Sales by Significant Product Category | Fiscal Year 2016 Fiscal Year 2015 Fiscal Year 2014 Net Sales Percent of Total Net Sales Percent of Total Net Sales Percent of Total New video game hardware (1) $ 1,396.7 16.2 % $ 1,944.7 20.8 % $ 2,028.7 21.8 % New video game software 2,493.4 29.0 2,905.1 31.0 3,089.0 33.2 Pre-owned and value video game products 2,254.1 26.2 2,374.7 25.4 2,389.3 25.7 Video game accessories 676.7 7.9 703.0 7.5 653.6 7.1 Digital 181.0 2.1 188.3 2.0 216.3 2.3 Technology Brands (2) 814.0 9.5 534.0 5.7 328.6 3.5 Collectibles 494.1 5.7 309.7 3.3 75.8 0.8 Other (3) 297.9 3.4 404.3 4.3 514.7 5.6 Total $ 8,607.9 100.0 % $ 9,363.8 100.0 % $ 9,296.0 100.0 % |
Gross Profit and Gross Profit Percentages by Significant Product Category | Fiscal Year 2016 Fiscal Year 2015 Fiscal Year 2014 Gross Profit Gross Profit Percent Gross Profit Gross Profit Percent Gross Profit Gross Profit Percent New video game hardware (1) $ 154.2 11.0 % $ 175.5 9.0 % $ 196.6 9.7 % New video game software 600.4 24.1 689.3 23.7 716.9 23.2 Pre-owned and value video game products 1,044.1 46.3 1,114.5 46.9 1,146.3 48.0 Video game accessories 235.2 34.8 255.5 36.3 246.1 37.7 Digital 155.5 85.9 149.6 79.4 152.0 70.3 Technology Brands (2) 554.6 68.1 306.6 57.4 169.1 51.5 Collectibles 171.6 34.7 116.6 37.6 31.9 42.1 Other (3) 93.7 31.5 110.7 27.4 117.0 22.7 Total $ 3,009.3 35.0 % $ 2,918.3 31.2 % $ 2,775.9 29.9 % |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Segment Reporting [Abstract] | |
Information on Segments and Reconciliation to Earnings Before Income Taxes | Information on segments and the reconciliation of segment profit to earnings (loss) before income taxes are as follows (in millions): As of and for the Fiscal Year Ended January 28, 2017 United States Canada Australia Europe Technology Brands Consolidated Net sales $ 5,488.9 $ 382.0 $ 609.5 $ 1,313.5 $ 814.0 $ 8,607.9 Segment operating earnings 430.2 22.4 34.9 26.0 44.2 557.7 Interest income 0.8 Interest expense (53.8 ) Earnings before income taxes $ 504.7 Other Information: Goodwill $ 1,199.7 $ 28.6 $ 70.1 $ 74.8 $ 352.0 $ 1,725.2 Other long-lived assets 285.5 23.0 56.5 214.6 530.4 1,110.0 Total assets 2,583.3 271.6 434.6 567.9 1,118.5 4,975.9 Income tax expense (benefit) 140.6 6.0 7.7 (15.1 ) 12.3 151.5 Depreciation and amortization 92.9 3.8 9.4 25.0 34.1 165.2 Capital expenditures $ 61.8 $ 1.3 $ 15.1 $ 25.8 $ 38.7 $ 142.7 As of and for the Fiscal Year Ended January 30, 2016 United States Canada Australia Europe Technology Brands Consolidated Net sales $ 6,435.1 $ 446.6 $ 591.4 $ 1,356.7 $ 534.0 $ 9,363.8 Segment operating earnings 504.3 29.4 38.7 48.8 27.0 648.2 Interest income 0.4 Interest expense (23.4 ) Earnings before income taxes $ 625.2 Other Information: Goodwill $ 1,195.5 $ 26.9 $ 65.7 $ 75.7 $ 112.9 $ 1,476.7 Other long-lived assets 329.9 17.6 47.0 200.3 321.3 916.1 Total assets 2,698.5 259.2 382.2 401.7 588.7 4,330.3 Income tax expense 195.0 6.1 8.3 4.1 8.9 222.4 Depreciation and amortization 98.8 3.5 8.8 24.3 21.2 156.6 Capital expenditures $ 76.9 $ 4.4 $ 12.8 $ 20.2 $ 58.9 $ 173.2 As of and for the Fiscal Year Ended January 31, 2015 United States Canada Australia Europe Technology Brands Consolidated Net sales $ 6,193.5 $ 476.4 $ 644.7 $ 1,652.8 $ 328.6 $ 9,296.0 Segment operating earnings 483.2 28.3 38.0 35.9 32.9 618.3 Interest income 0.7 Interest expense (10.7 ) Earnings before income taxes $ 608.3 Other Information: Goodwill $ 1,143.3 $ 29.5 $ 72.1 $ 78.9 $ 66.6 $ 1,390.4 Other long-lived assets 324.0 18.4 46.4 214.1 185.9 788.8 Total assets 2,734.4 252.1 382.5 527.2 344.2 4,240.4 Income tax expense (benefit) 198.1 4.2 8.4 (6.7 ) 11.2 215.2 Depreciation and amortization 102.5 3.8 9.6 30.8 7.7 154.4 Capital expenditures $ 92.3 $ 5.1 $ 11.2 $ 19.9 $ 31.1 $ 159.6 |
Unaudited Quarterly Financial41
Unaudited Quarterly Financial Information (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Unaudited Quarterly Consolidated Statement of Operations Information | The following table sets forth certain unaudited quarterly consolidated statement of operations information for the fiscal years ended January 28, 2017 and January 30, 2016 (in millions, except per share amounts). The unaudited quarterly information includes all normal recurring adjustments that our management considers necessary for a fair presentation of the information shown. Fiscal Year 2016 Fiscal Year 2015 1st Quarter 2nd Quarter 3rd Quarter 4th (1) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter (1) Net sales $ 1,971.5 $ 1,631.8 $ 1,959.2 $ 3,045.4 $ 2,060.6 $ 1,761.9 $ 2,016.3 $ 3,525.0 Gross profit 675.5 617.7 708.2 1,007.9 639.0 580.5 655.6 1,043.2 Operating earnings 114.0 58.3 98.8 286.6 123.9 51.7 90.7 381.9 Net income 65.8 27.9 50.8 208.7 73.8 25.3 55.9 247.8 Earnings per share: Basic (2) $ 0.63 $ 0.27 $ 0.49 $ 2.04 $ 0.68 $ 0.24 $ 0.53 $ 2.38 Diluted (2) 0.63 0.27 0.49 2.04 0.68 0.24 0.53 2.36 Dividend declared per common share $ 0.37 $ 0.37 $ 0.37 $ 0.37 $ 0.36 $ 0.36 $ 0.36 $ 0.36 ___________________ The following footnotes are discussed as pretax expenses. (1) The results of operations for the fourth quarter of fiscal 2016 include asset impairments of $33.8 million . The results of operations for the fourth quarter of fiscal 2015 include asset impairments of $4.6 million . (2) The sum of the quarters may not necessarily be equal to the full year net income per common share amount. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Cash paid during the period for: | |||
Interest | $ 23.3 | $ 21.8 | $ 2.7 |
Acquisitions: | |||
Cash paid for acquisitions, net of cash acquired | $ 441.2 | $ 267.5 | $ 89.7 |
Summary of Significant Accoun43
Summary of Significant Accounting Policies - Narrative (Detail) | 12 Months Ended | ||
Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Jan. 31, 2015USD ($) | |
Significant Accounting Policies [Line Items] | |||
Cost Of Sales Vendor Allowances | $ 184,300,000 | $ 208,200,000 | $ 202,400,000 |
Number of Reportable Segments | 5 | ||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents We consider all short-term, highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Our cash and cash equivalents are carried at cost, which approximates market value, and consist primarily of time deposits with highly rated commercial banks. From time to time depending upon interest rates, credit worthiness and other factors, we invest in money market investment funds holding direct U.S. Treasury obligations. | ||
Restricted Cash and Cash Equivalents | $ 10,200,000 | 9,700,000 | |
Inventory reserves | 59,000,000 | 61,500,000 | |
Depreciation | 151,700,000 | 144,900,000 | 144,500,000 |
Goodwill impairments | 0 | 0 | 0 |
Impairment of intangible assets | 14,400,000 | ||
Advertising expenses | 76,600,000 | 66,600,000 | 64,100,000 |
Impairment of Long-Lived Assets Held-for-use | $ 1,900,000 | ||
Prepaid Expense, Current | (128,900,000) | (147,600,000) | |
Other Assets, Noncurrent | (72,800,000) | (62,200,000) | |
Long-term Debt | $ (815,000,000) | $ (345,400,000) | |
Sony Computer Entertainment | |||
Significant Accounting Policies [Line Items] | |||
New product purchases, concentration percentage | 24.00% | 27.00% | 24.00% |
Microsoft | |||
Significant Accounting Policies [Line Items] | |||
New product purchases, concentration percentage | 14.00% | 19.00% | 17.00% |
Nintendo | |||
Significant Accounting Policies [Line Items] | |||
New product purchases, concentration percentage | 10.00% | 11.00% | 11.00% |
Electronic Arts | |||
Significant Accounting Policies [Line Items] | |||
New product purchases, concentration percentage | 7.00% | 10.00% | 8.00% |
Activision | |||
Significant Accounting Policies [Line Items] | |||
New product purchases, concentration percentage | 6.00% | 9.00% | 10.00% |
Selling, General and Administrative Expenses | |||
Significant Accounting Policies [Line Items] | |||
Transaction gains and (losses) | $ 4,500,000 | $ 1,600,000 | $ 2,500,000 |
Minimum | |||
Significant Accounting Policies [Line Items] | |||
Cash and Cash Equivalents, Policy [Policy Text Block] | P0D | ||
Maximum | |||
Significant Accounting Policies [Line Items] | |||
Cash and Cash Equivalents, Policy [Policy Text Block] | P3M | ||
Furniture, Fixtures and Equipment | Minimum | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 2 years | ||
Furniture, Fixtures and Equipment | Maximum | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 10 years | ||
Leasehold Improvements | Minimum | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 3 years | ||
Leasehold Improvements | Maximum | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 10 years | ||
Video Game Brands [Member] | |||
Significant Accounting Policies [Line Items] | |||
Number of Reportable Segments | 4 | ||
Number of Stores | 6,013 | ||
Technology Brands | |||
Significant Accounting Policies [Line Items] | |||
Impairment of Long-Lived Assets Held-for-use | $ 16,600,000 | 1,000,000 | |
AT&T Branded [Member] | Technology Brands | |||
Significant Accounting Policies [Line Items] | |||
Number of Stores | 1,403 | ||
Cricket Branded [Member] | Technology Brands | |||
Significant Accounting Policies [Line Items] | |||
Number of Stores | 69 | ||
Simply Mac [Member] | Technology Brands | |||
Significant Accounting Policies [Line Items] | |||
Number of Stores | 50 | ||
Fair Value, Measurements, Nonrecurring | |||
Significant Accounting Policies [Line Items] | |||
Impairment of Long-Lived Assets Held-for-use | $ 19,400,000 | 4,400,000 | |
Adjustments for New Accounting Pronouncement [Member] | |||
Significant Accounting Policies [Line Items] | |||
Prepaid Expense, Current | 1,300,000 | ||
Other Assets, Noncurrent | 3,300,000 | ||
Long-term Debt | $ 4,600,000 |
Asset Impairments - Summary Of
Asset Impairments - Summary Of Company's Asset Impairments (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Restructuring and Impairment Costs [Line Items] | ||||
Impairment of intangible assets | $ 300,000 | |||
Impairment of intangible assets | $ 14,400,000 | |||
Impairments of property, equipment and other assets - store impairments | 1,900,000 | |||
Asset Impairment Charges | $ 4,600,000 | 33,800,000 | $ 4,600,000 | 2,200,000 |
Fair Value, Measurements, Nonrecurring | ||||
Restructuring and Impairment Costs [Line Items] | ||||
Impairment of intangible assets | 200,000 | |||
Impairments of property, equipment and other assets - store impairments | 19,400,000 | 4,400,000 | ||
United States [Member] | ||||
Restructuring and Impairment Costs [Line Items] | ||||
Impairment of intangible assets | 0 | 0 | ||
Impairments of property, equipment and other assets - store impairments | 300,000 | 2,800,000 | 600,000 | |
Asset Impairment Charges | 300,000 | 2,800,000 | 600,000 | |
Canada [Member] | ||||
Restructuring and Impairment Costs [Line Items] | ||||
Impairment of intangible assets | 0 | |||
Impairments of property, equipment and other assets - store impairments | 200,000 | 400,000 | ||
Asset Impairment Charges | 200,000 | 0 | 400,000 | |
Europe1 [Member] | ||||
Restructuring and Impairment Costs [Line Items] | ||||
Impairment of intangible assets | 200,000 | 300,000 | ||
Impairments of property, equipment and other assets - store impairments | 600,000 | 900,000 | ||
Asset Impairment Charges | 800,000 | 1,200,000 | ||
Australia | ||||
Restructuring and Impairment Costs [Line Items] | ||||
Asset Impairment Charges | 0 | 0 | ||
Technology Brands | ||||
Restructuring and Impairment Costs [Line Items] | ||||
Impairment of intangible assets | 0 | |||
Impairments of property, equipment and other assets - store impairments | 16,600,000 | 1,000,000 | ||
Asset Impairment Charges | 23,600,000 | $ 1,000,000 | $ 0 | |
Trade Names | Europe1 [Member] | ||||
Restructuring and Impairment Costs [Line Items] | ||||
Impairments of property, equipment and other assets - store impairments | 2,300,000 | |||
Asset Impairment Charges | $ 9,700,000 |
Asset Impairments - Narrative (
Asset Impairments - Narrative (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||
Asset Impairment Charges | $ 4,600,000 | $ 33,800,000 | $ 4,600,000 | $ 2,200,000 |
Impairment of Long-Lived Assets Held-for-use | 1,900,000 | |||
Impairment of intangible assets | 14,400,000 | |||
Asset impairments | 33,800,000 | 4,600,000 | 2,200,000 | |
Australia | ||||
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||
Asset Impairment Charges | 0 | 0 | ||
Canada [Member] | ||||
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||
Asset Impairment Charges | 200,000 | 0 | 400,000 | |
Impairment of Long-Lived Assets Held-for-use | 200,000 | 400,000 | ||
Technology Brands | ||||
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||
Asset Impairment Charges | 23,600,000 | 1,000,000 | $ 0 | |
Impairment of Long-Lived Assets Held-for-use | $ 16,600,000 | $ 1,000,000 |
Acquisitions - Schedule of Reco
Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions | Jan. 28, 2017 | Aug. 02, 2016 | Jan. 30, 2016 | Jan. 31, 2015 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 1,725.2 | $ 1,476.7 | $ 1,390.4 | |
Technology Brands | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 352 | $ 112.9 | $ 66.6 | |
Technology Brands | Cellular World & Red Skye [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | $ 13.1 | |||
Goodwill | 239.1 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 0.2 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 23.9 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 6.9 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 446.2 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 9.5 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 0.2 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 9.7 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 436.5 | |||
Dealer Agreements [Member] | Technology Brands | Cellular World & Red Skye [Member] | ||||
Business Acquisition [Line Items] | ||||
Indefinite-lived Intangible Assets Acquired | $ 163 |
Acquisitions - Narrative (Detai
Acquisitions - Narrative (Detail) $ in Millions | Aug. 03, 2016USD ($) | May 31, 2016USD ($) | Jan. 28, 2017USD ($) | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Jan. 31, 2015USD ($) | Aug. 02, 2016USD ($) | Mar. 09, 2016USD ($) | Jul. 17, 2015USD ($) |
Business Acquisition [Line Items] | |||||||||
Business Combination, Contingent Consideration Arrangements, Description | The contingent consideration includes two potential payments: (i) a $20.0 million payment contingent on the relocation of certain acquired stores to be completed by Cellular World, due the latter of August 2017 or when relocations are completed and (ii) an earn-out payment due in March 2018, contingent on the sales performance of certain acquired stores during calendar year 2017. We estimate that the second payment will range from $20.0 million to $30.0 million. We recognized an acquisition-date liability of $43.2 million representing the total estimated fair value of the contingent consideration; see Note 4, "Fair Value Measurements and Financial Instruments," for additional information. | ||||||||
Cash Acquired from Acquisition | $ 0.1 | $ 13.9 | $ 3.6 | ||||||
Payments to Acquire Businesses, Net of Cash Acquired | 441.2 | 267.5 | 89.7 | ||||||
Acquisitions (Note 3) | 243.3 | 98.5 | |||||||
Goodwill | $ 1,725.2 | 1,725.2 | 1,476.7 | 1,390.4 | |||||
Cellular World & Red Skye [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Number of Stores | 436 | ||||||||
Cash Acquired from Acquisition | $ 0.1 | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | $ 40 | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 50 | ||||||||
Business Combination, Contingent Consideration, Liability | 43.2 | ||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 136.6 | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 393.3 | ||||||||
Consideration Transferred | $ 436.5 | ||||||||
Midwest Cellular [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Number of Stores | 71 | ||||||||
Geeknet [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Acquired Receivables, Description | $ 6.9 | ||||||||
Cash Acquired from Acquisition | 13.9 | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 126 | ||||||||
Goodwill | 52.2 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 25.6 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 12.5 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 0.9 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent | 2.8 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (12.6) | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 0.1 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 33.4 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 134.4 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 3.6 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 17.3 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0.1 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 8.4 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 126 | ||||||||
Technology Brands | |||||||||
Business Acquisition [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | 93.3 | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 141.5 | 89.7 | |||||||
Indefinite-lived Intangible Assets Acquired | 76.6 | 76.8 | |||||||
Acquisitions (Note 3) | 46.3 | 4.5 | |||||||
GameStop Iberia [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Restructuring Charges | 14.8 | ||||||||
divestiturecostofsales | 7.1 | ||||||||
divestituresellinggeneralandadministrativeexpenses | 7.7 | ||||||||
Earn-out Payment 1 [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 20 | ||||||||
Earn-out Payment 2 [Member] | Cellular World & Red Skye [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | 20 | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 30 | ||||||||
Technology Brands | |||||||||
Business Acquisition [Line Items] | |||||||||
Acquisitions (Note 3) | 239.1 | 46.3 | |||||||
Goodwill | 352 | 352 | $ 112.9 | $ 66.6 | |||||
Technology Brands | Cellular World & Red Skye [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Goodwill Recognized, Description | The goodwill recognized reflects the acquired assembled workforce and Spring Mobile's entrance into new domestic regional markets. | ||||||||
Goodwill | 239.1 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 13.1 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 0.2 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 23.9 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 6.9 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 446.2 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 9.5 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 0.2 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 9.7 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 436.5 | ||||||||
Technology Brands | Midwest Cellular [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 47 | ||||||||
Technology Brands | Geeknet [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Goodwill Recognized, Description | represents the value we paid for the knowledge and expertise of, and established presence in, the collectibles market | ||||||||
Senior Notes 6.75% due 2021 [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 475 | $ 475 | $ 0 | ||||||
Senior Notes 6.75% due 2021 [Member] | Unsecured Debt [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 475 | ||||||||
Dealer Agreements [Member] | Technology Brands | Cellular World & Red Skye [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 163 | ||||||||
Dealer Agreements [Member] | Technology Brands | Midwest Cellular [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 42.7 |
Fair Value Measurements and F48
Fair Value Measurements and Financial Instruments Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Jan. 30, 2016 | Jan. 31, 2015 | Jan. 28, 2017 | Aug. 02, 2016 | ||
Liabilities | |||||
Impairment of intangible assets | $ 0.3 | ||||
Fair Value, Measurements, Nonrecurring | |||||
Liabilities | |||||
Impairment of intangible assets | $ 0.2 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | |||||
Assets | |||||
Life insurance policies we own | [1] | 10.1 | $ 12.4 | ||
Total assets | 50.8 | 25.8 | |||
Liabilities | |||||
Nonqualified deferred compensation | [2] | 1.1 | 1 | ||
Total liabilities | 33.9 | 5.4 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||||
Liabilities | |||||
Total liabilities | 43.2 | ||||
Other current assets | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | |||||
Assets | |||||
Derivative assets | 40.6 | 13.3 | |||
Other noncurrent assets | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | |||||
Assets | |||||
Derivative assets | 0.1 | 0.1 | |||
Accrued liabilities | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | |||||
Liabilities | |||||
Derivative Liability | 32.3 | 4.3 | |||
Other long-term liabilities | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | |||||
Liabilities | |||||
Derivative Liability | $ 0.5 | 0.1 | |||
Cellular World & Red Skye [Member] | |||||
Liabilities | |||||
Business Combination, Contingent Consideration, Liability | $ 43.2 | ||||
Cellular World & Red Skye [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||||
Liabilities | |||||
Business Combination, Contingent Consideration, Liability | 43.2 | ||||
Cellular World & Red Skye [Member] | Accrued liabilities | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||||
Liabilities | |||||
Business Combination, Contingent Consideration, Liability | 20 | ||||
Cellular World & Red Skye [Member] | Other long-term liabilities | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||||
Liabilities | |||||
Business Combination, Contingent Consideration, Liability | $ 23.2 | ||||
[1] | Recognized in other non-current assets in our consolidated balance sheets. | ||||
[2] | Recognized in accrued liabilities in our consolidated balance sheets. |
Fair Value Measurements and F49
Fair Value Measurements and Financial Instruments - Gains and Losses on Derivative Instruments and Foreign Currency Transaction (Detail) - Selling, General and Administrative Expense - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Fair Value Derivative Contract Assets and Liabilities Measured On Recurring Basis Gain Loss Included In Earnings [Line Items] | |||
Gains (losses) on the changes in fair value of derivative instruments | $ 20 | $ (5.2) | $ 28.9 |
Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities | (15.5) | 6.8 | (26.4) |
Total | $ 4.5 | $ 1.6 | $ 2.5 |
Fair Value Measurements and F50
Fair Value Measurements and Financial Instruments - Narrative (Detail) - USD ($) | 6 Months Ended | 12 Months Ended | |||||
Jan. 28, 2017 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | Aug. 02, 2016 | Mar. 09, 2016 | Sep. 24, 2014 | |
Fair Value of Financial Instruments [Line Items] | |||||||
Notional value of foreign currency derivatives gross | $ 586,000,000 | $ 586,000,000 | $ 925,300,000 | ||||
Impairment of intangible assets | $ 300,000 | ||||||
Impairment of intangible assets | 14,400,000 | ||||||
Impairment of Long-Lived Assets Held-for-use | 1,900,000 | ||||||
Fair Value, Measurements, Nonrecurring | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Impairment of intangible assets | 200,000 | ||||||
Impairment of Long-Lived Assets Held-for-use | 19,400,000 | 4,400,000 | |||||
Unsecured Debt [Member] | Senior Notes 5.5% due 2019 [Member] | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Debt Instrument, Fair Value Disclosure | 358,700,000 | 358,700,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||||||
Senior Notes | 346,600,000 | 346,600,000 | |||||
Unsecured Debt [Member] | Senior Notes 6.75% due 2021 [Member] | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Debt Instrument, Fair Value Disclosure | 487,400,000 | 487,400,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | ||||||
Senior Notes | 468,400,000 | 468,400,000 | |||||
Cellular World & Red Skye [Member] | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Business Combination, Contingent Consideration, Liability | $ 43,200,000 | ||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 0 | ||||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Cellular World & Red Skye [Member] | Fair Value, Measurements, Recurring | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Business Combination, Contingent Consideration, Liability | 43,200,000 | 43,200,000 | |||||
Simply Mac [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring | Dealer Agreements [Member] | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 11,000,000 | 11,000,000 | |||||
Micromania [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring | Trade names | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 35,000,000 | 35,000,000 | |||||
Technology Brands | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Impairment of intangible assets | 0 | ||||||
Impairment of Long-Lived Assets Held-for-use | 16,600,000 | 1,000,000 | |||||
Technology Brands | Simply Mac [Member] | Dealer Agreements [Member] | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Impairment of intangible assets | 7,000,000 | ||||||
Europe1 [Member] | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Impairment of intangible assets | 200,000 | 300,000 | |||||
Impairment of Long-Lived Assets Held-for-use | $ 600,000 | $ 900,000 | |||||
Europe1 [Member] | Trade names | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Impairment of Long-Lived Assets Held-for-use | 2,300,000 | ||||||
Europe1 [Member] | Micromania [Member] | Trade names | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Impairment of intangible assets | 7,400,000 | ||||||
Other Noncurrent Liabilities | Fair Value, Inputs, Level 3 [Member] | Cellular World & Red Skye [Member] | Fair Value, Measurements, Recurring | |||||||
Fair Value of Financial Instruments [Line Items] | |||||||
Business Combination, Contingent Consideration, Liability | $ 23,200,000 | $ 23,200,000 |
Receivables, Net - Summary of R
Receivables, Net - Summary of Receivables (Detail) - USD ($) $ in Millions | Jan. 28, 2017 | Jan. 30, 2016 |
Receivables [Abstract] | ||
Bankcard receivables | $ 39.5 | $ 37.7 |
Vendor Receivables | 143.3 | 119.3 |
Carrier Receivables | 41 | 24.1 |
Other receivables | 2.8 | 0.8 |
Allowance for doubtful accounts | (5.7) | (5.4) |
Total receivables, net | $ 220.9 | $ 176.5 |
Goodwill and Intangible Asset52
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill for Operating Segments (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 28, 2017 | Jan. 30, 2016 | |
Goodwill [Line Items] | ||
Goodwill, Impaired, Accumulated Impairment Loss | $ 640.5 | |
Goodwill [Roll Forward] | ||
Beginning balance | 1,476.7 | $ 1,390.4 |
Acquisitions (Note 3) | 243.3 | 98.5 |
Foreign currency translation adjustment | 5.2 | (12.2) |
Ending balance | 1,725.2 | 1,476.7 |
United States [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Impaired, Accumulated Impairment Loss | 13.5 | |
Goodwill [Roll Forward] | ||
Beginning balance | 1,195.5 | 1,143.3 |
Acquisitions (Note 3) | 4.2 | 52.2 |
Foreign currency translation adjustment | 0 | 0 |
Ending balance | 1,199.7 | 1,195.5 |
Canada [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Impaired, Accumulated Impairment Loss | 100.3 | |
Goodwill [Roll Forward] | ||
Beginning balance | 26.9 | 29.5 |
Acquisitions (Note 3) | 0 | 0 |
Foreign currency translation adjustment | 1.7 | (2.6) |
Ending balance | 28.6 | 26.9 |
Australia | ||
Goodwill [Line Items] | ||
Goodwill, Impaired, Accumulated Impairment Loss | 107.1 | |
Goodwill [Roll Forward] | ||
Beginning balance | 65.7 | 72.1 |
Acquisitions (Note 3) | 0 | 0 |
Foreign currency translation adjustment | 4.4 | (6.4) |
Ending balance | 70.1 | 65.7 |
Europe1 [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Impaired, Accumulated Impairment Loss | 419.6 | |
Goodwill [Roll Forward] | ||
Beginning balance | 75.7 | 78.9 |
Acquisitions (Note 3) | 0 | 0 |
Foreign currency translation adjustment | (0.9) | (3.2) |
Ending balance | 74.8 | 75.7 |
Technology Brands | ||
Goodwill [Roll Forward] | ||
Beginning balance | 112.9 | 66.6 |
Acquisitions (Note 3) | 239.1 | 46.3 |
Foreign currency translation adjustment | 0 | 0 |
Ending balance | $ 352 | $ 112.9 |
Goodwill and Intangible Asset53
Goodwill and Intangible Assets - Schedule of Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Millions | Jan. 28, 2017 | Jan. 30, 2016 |
Indefinite-lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Accumulated Amortization | $ (86.2) | $ (73) |
Indefinite and Finite-Lived Intangible Assets, Gross | 593.4 | 403.4 |
Indefinite and Finite-Lived Intangible Assets, Net Carrying Amount | 507.2 | 330.4 |
Trade names | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 43.7 | 51.7 |
Dealer agreements | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 409.3 | 210.6 |
Leasehold rights | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 86.4 | 87.5 |
Finite-Lived Intangible Assets, Accumulated Amortization | (51.4) | (46.2) |
Finite-Lived Intangible Assets, Net | 35 | 41.3 |
Customer Relationships [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 14.5 | 14.5 |
Finite-Lived Intangible Assets, Accumulated Amortization | (4.1) | (1.5) |
Finite-Lived Intangible Assets, Net | 10.4 | 13 |
Other | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 39.5 | 39.1 |
Finite-Lived Intangible Assets, Accumulated Amortization | (30.7) | (25.3) |
Finite-Lived Intangible Assets, Net | $ 8.8 | $ 13.8 |
Goodwill and Intangible Asset54
Goodwill and Intangible Assets - Estimated Aggregate Amortization Expenses for Deferred Financing Fees and Other Intangible Assets (Detail) - Other $ in Millions | Jan. 28, 2017USD ($) |
Expected Amortization Expense [Line Items] | |
2,018 | $ 13.5 |
2,019 | 11.3 |
2,020 | 8.6 |
2,021 | 6 |
2,022 | 4 |
Finite Lived Intangible Assets Future Amortization Expense | $ 43.4 |
Goodwill and Intangible Asset55
Goodwill and Intangible Assets - Narrative (Detail) - USD ($) | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 |
Goodwill, Accumulated Impairment Loss | $ 640,500,000 | ||
Total weighted-average amortization period for finite lived intangible assets | 9 years 3 months 18 days | ||
Impairment of intangible assets | $ 14,400,000 | ||
Amortization of Intangible Assets | $ 15,000,000 | $ 13,400,000 | $ 12,000,000 |
Leases, Acquired-in-Place [Member] | Maximum | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Total weighted-average amortization period for finite lived intangible assets | 20 years | ||
Advertising relationships | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Total weighted-average amortization period for finite lived intangible assets | 10 years | ||
Europe1 [Member] | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Goodwill, Accumulated Impairment Loss | $ 419,600,000 | ||
Simply Mac [Member] | Technology Brands | Dealer Agreements [Member] | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Impairment of intangible assets | 7,000,000 | ||
Micromania [Member] | Europe1 [Member] | Trade names | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Impairment of intangible assets | $ 7,400,000 |
Income Taxes - Provision for I
Income Taxes - Provision for Income Tax (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Current tax expense: | |||
Federal | $ 143.8 | $ 178.7 | $ 158.4 |
State | 13.5 | 16.3 | 18 |
Foreign | 29.2 | 28.9 | 29.6 |
Current Income Tax Expense Benefit | 186.5 | 223.9 | 206 |
Deferred tax expense (benefit): | |||
Federal | (1.2) | 0.2 | 29.3 |
State | (0.2) | 3.6 | (3.3) |
Foreign | (33.6) | (5.3) | (16.8) |
Deferred Income Tax Expense Benefit | (35) | (1.5) | 9.2 |
Total income tax expense | $ 151.5 | $ 222.4 | $ 215.2 |
Income Taxes - Components of E
Income Taxes - Components of Earnings Before Income Tax Expense (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
United States | $ 446.8 | $ 553.5 | $ 558.8 |
International | 57.9 | 71.7 | 49.5 |
Earnings before income tax expense | $ 504.7 | $ 625.2 | $ 608.3 |
Income Taxes - Difference in I
Income Taxes - Difference in Income Tax Provided and Amounts Determined by Applying the Statutory Rate to Income Before Income Taxes (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Jan. 28, 2017 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | ||
Income Tax Disclosure [Abstract] | |||||
Federal statutory tax rate | 35.00% | 35.00% | 35.00% | ||
State income taxes, net of federal effect | 1.70% | 2.10% | 2.00% | ||
Foreign income tax rate differential | (0.90%) | (1.00%) | (0.40%) | ||
Change in valuation allowance | 4.10% | (0.90%) | 1.80% | ||
EffectiveIncomeTaxRateReconciliationChangeInUnrecognizedTaxBenefits | 2.30% | 0.90% | (0.20%) | ||
Subpart F income | 1.30% | 0.90% | 2.70% | ||
Interest income from hybrid securities | (0.60%) | (1.60%) | (5.20%) | ||
Realization of Losses Not Previously Benefited | (8.30%) | 0.00% | (2.20%) | ||
EffectiveIncomeTaxRateReconciliationLossOnInvestmentinForeignSubsidiary | (3.20%) | 0.00% | 0.00% | ||
Other (including permanent differences)(2) | [1] | (1.40%) | 0.20% | 1.90% | |
Effective Income Tax Rate, Continuing Operations, Total | 30.00% | 35.60% | 35.40% | ||
Effective Income Tax Rate Reconciliation, Other, Threshold of Items Included as a Percentage of Earnings Before Income Taxes | 1.75% | 1.75% | 1.75% | ||
PreviouslyUnrecognized [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $ 42.1 | $ 42.1 | |||
Operating Loss Carryforwards, Valuation Allowance | $ 14.8 | $ 14.8 | |||
[1] | Other is comprised of numerous items, none of which is greater than 1.75% of earnings before income taxes. |
Income Taxes - Components of D
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 28, 2017 | Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||
Current Fiscal Year End Date | --01-28 | |
Deferred tax asset: | ||
Inventory | $ 26.7 | $ 26.5 |
Deferred rents | 8.3 | 8.9 |
Stock-based compensation | 12 | 16.5 |
Net operating losses | 89.6 | 52.2 |
Customer liabilities | 19.5 | 26.1 |
Property and equipment | 3.4 | 0 |
Foreign tax credit carryover | 4.1 | 3.9 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | 26.3 | 25.9 |
Other | 22.1 | 6.6 |
Total deferred tax assets | 212 | 166.6 |
Valuation allowance | (39.4) | (18.8) |
Total deferred tax assets, net | 172.6 | 147.8 |
Deferred Tax Liabilities, Property, Plant and Equipment | 0 | (11.6) |
Deferred tax liabilities: | ||
Goodwill | (75.5) | (89) |
Prepaid expenses | (5.3) | (6.6) |
Intangible assets | (47.9) | (30.3) |
Other | (7.9) | (0.9) |
Total deferred tax liabilities | (136.6) | (138.4) |
Net deferred tax assets | 36 | 9.4 |
The above amounts are reflected in the consolidated financial statements as: | ||
Deferred Tax Assets, Net, Noncurrent | 59 | 39 |
Deferred income taxes - liabilities | $ (23) | $ (29.6) |
Income Taxes - Reconciliation
Income Taxes - Reconciliation of Changes in Gross Balances of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Current Fiscal Year End Date | --01-28 | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning balance of unrecognized tax benefits | $ 31.9 | $ 21.4 | |
Increases related to current period tax positions | 3.5 | $ 4 | 1 |
Increases related to prior period tax positions | 7.9 | 9 | 6.1 |
Reductions as a result of a lapse of the applicable statute of limitations | (0.2) | (1) | (0.5) |
Reductions as a result of settlements with taxing authorities | (1) | (1.5) | $ (5.8) |
Ending balance of unrecognized tax benefits | $ 42.1 | $ 31.9 |
Income Taxes - Narrative (Deta
Income Taxes - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | |
Income Taxes [Line Items] | |||||
Realization of Losses Not Previously Benefited | (8.30%) | 0.00% | (2.20%) | ||
Valuation allowance | $ 39.4 | $ 18.8 | |||
Tax Credit Carryforward, Amount | $ 4.1 | ||||
Current Fiscal Year End Date | --01-28 | ||||
Gross amount of unrecognized tax benefits | $ 42.1 | 31.9 | $ 21.4 | $ 20.6 | |
Unrecognized tax benefits that would impact effective tax rate | 36.5 | ||||
Unrecognized tax benefits, interest and penalties accrued | 7.2 | 4.9 | $ 4.6 | ||
Unrecognized tax benefits, interest and penalties expense | 2.3 | $ 0.4 | $ 0.6 | ||
Undistributed Earnings of Foreign Subsidiaries | $ 671.1 | ||||
Minimum | |||||
Income Taxes [Line Items] | |||||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2022 | ||||
Maximum | |||||
Income Taxes [Line Items] | |||||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2026 | ||||
State and Local Jurisdiction | Minimum | |||||
Income Taxes [Line Items] | |||||
Income tax examination, length of period subject to examination | 3 years | ||||
State and Local Jurisdiction | Maximum | |||||
Income Taxes [Line Items] | |||||
Income tax examination, length of period subject to examination | 6 years | ||||
Foreign Country | Minimum | |||||
Income Taxes [Line Items] | |||||
Income tax examination, length of period subject to examination | 3 years | ||||
Foreign Country | Maximum | |||||
Income Taxes [Line Items] | |||||
Income tax examination, length of period subject to examination | 6 years | ||||
NOL with expiration [Member] | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards | $ 25.4 | ||||
NOL with expiration [Member] | Minimum | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2017 | ||||
NOL with expiration [Member] | Maximum | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2035 | ||||
NOLwithoutexpiration [Domain] | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards | $ 229.1 | ||||
Geeknet [Member] | NOL with expiration [Member] | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards | $ 64 | ||||
Geeknet [Member] | NOL with expiration [Member] | Minimum | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2020 | ||||
Geeknet [Member] | NOL with expiration [Member] | Maximum | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2035 | ||||
PreviouslyUnrecognized [Member] | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards, Valuation Allowance | $ 14.8 |
Accrued Liabilities - Summary o
Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Millions | Jan. 28, 2017 | Aug. 02, 2016 | Jan. 30, 2016 |
Payables and Accruals [Abstract] | |||
Customer liabilities | $ 342.5 | $ 341.6 | |
Deferred revenue | 131.5 | 112.8 | |
Employee benefits, compensation and related taxes | 147.7 | 156.4 | |
ChecksAndTransfersYetToBePresentedForPaymentFromZeroBalanceCashAccounts | 268.4 | 264.9 | |
Other taxes | 52 | 52.9 | |
Other accrued liabilities(1) | 148.8 | 112.8 | |
Total accrued liabilities | 1,090.9 | $ 1,041.4 | |
Cellular World & Red Skye [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Business Combination, Contingent Consideration, Liability | $ 43.2 | ||
Cellular World & Red Skye [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Business Combination, Contingent Consideration, Liability | 43.2 | ||
Cellular World & Red Skye [Member] | Fair Value, Inputs, Level 3 [Member] | Accrued Liabilities | Fair Value, Measurements, Recurring | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Business Combination, Contingent Consideration, Liability | $ 20 |
Debt - Narrative (Detail)
Debt - Narrative (Detail) | Mar. 10, 2016USD ($) | Sep. 24, 2014USD ($) | Mar. 25, 2014USD ($) | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Jan. 31, 2015USD ($) | Mar. 09, 2016USD ($) | Jan. 04, 2011USD ($) | Sep. 30, 2007USD ($) |
Debt Instrument [Line Items] | |||||||||
Long-term Debt | $ 815,000,000 | $ 345,400,000 | |||||||
Borrowings from the revolver | 545,000,000 | 463,000,000 | $ 626,000,000 | ||||||
Repayments of Lines of Credit | 545,000,000 | 463,000,000 | $ 626,000,000 | ||||||
Line of Credit Facility, Average Outstanding Amount | $ 42,800,000 | ||||||||
Line of Credit Facility, Interest Rate During Period | 2.4544% | ||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 354,000,000 | ||||||||
Line of Credit Facility, Fair Value of Amount Outstanding | 0 | ||||||||
Letters of Credit Outstanding, Amount | 8,400,000 | ||||||||
Senior Notes 6.75% due 2021 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | 475,000,000 | 0 | |||||||
Senior Notes All [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Deferred Finance Costs, Noncurrent, Net | (10,000,000) | (4,600,000) | |||||||
Unsecured Debt [Member] | Senior Notes 5.5% due 2019 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Covenant Description | The indenture governing the Senior Notes does not contain financial covenants but does contain covenants which place certain restrictions on us and our subsidiaries, including limitations on asset sales, additional liens, investments, stock repurchases, the incurrence of additional debt and the repurchase of debt that is junior to the Senior Notes. | ||||||||
Debt Instrument, Dividend Restriction | In addition, the indenture restricts payments of dividends to stockholders (other than dividends payable in shares of capital stock) if one of the following conditions exist: (i) an event of default has occurred, (ii) we could not incur additional debt under the general debt covenant of the indenture or (iii) the sum of the proposed dividend and all other dividends and other restricted payments made under the indenture from the date of the indenture exceeds the sum of 50% of consolidated net income plus 100% of net proceeds from capital stock sales and other amounts set forth in and determined as provided in the indenture. These restrictions are subject to exceptions and qualifications, including that we can pay up to $175 million in dividends to stockholders in each fiscal year and we can pay dividends and make other restricted payments in an unlimited amount if our leverage ratio on a pro forma basis after giving effect to the dividend payment and other restricted payments would be less than or equal to 1.0:1.0. | ||||||||
Debt Instrument, Face Amount | $ 350,000,000 | $ 350,000,000 | $ 350,000,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||||||||
Debt Instrument, Fee Amount | $ 6,300,000 | ||||||||
Unsecured Debt [Member] | Senior Notes 6.75% due 2021 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 475,000,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | ||||||||
Debt Instrument, Fee Amount | $ 8,100,000 | ||||||||
Unsecured Debt [Member] | Senior Notes All [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Cash Dividend Restriction, Maximum Ratio of Indenture Life-to-date Dividend Paid to Net Income | 50.00% | ||||||||
Debt Instrument, Cash Dividend Restriction, Maximum Ratio of Indenture Life-to-date Dividend Paid to Stock Sale Proceeds | 100.00% | ||||||||
Debt Instrument, Cash Dividend Restriction, Fiscal Year Maximum | $ 175,000,000 | ||||||||
Debt Instrument, Cash Dividend Restriction, Fixed Charge Coverage Ratio | 1 | ||||||||
Five Year Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 400,000,000 | ||||||||
Line Of Credit Facility Additional Borrowing Capacity | $ 150,000,000 | ||||||||
Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Applicable Margin Rate | 0.25% | ||||||||
Five Year Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Applicable Margin Rate | 1.25% | ||||||||
Amended Five Year Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Asset Restrictions | Borrowing availability under the Revolver is limited to a borrowing base which allows us to borrow up to 90% of the appraisal value of the inventory, in each case plus 90% of eligible credit card receivables, net of certain reserves. The borrowing base provides for borrowing up to 92.5% of the appraisal value during the fiscal months of August through October. Letters of credit reduce the amount available to borrow under the Revolver by an amount equal to the face value of the letters of credit. | ||||||||
Line of Credit Facility, Dividend Restrictions | Our ability to pay cash dividends, redeem options and repurchase shares is generally permitted, except under certain circumstances, including if either 1) excess availability under the Revolver is less than 30%, or is projected to be within 12 months after such payment or 2) excess availability under the Revolver is less than 15%, or is projected to be within 12 months after such payment, and the fixed charge coverage ratio, as calculated on a pro-forma basis for the prior 12 months is 1.1:1.0 or less. | ||||||||
Line of Credit Facility, Covenant Terms | In the event that excess availability under the Revolver is at any time less than the greater of (1) $30 million or (2) 10% of the lesser of the total commitment or the borrowing base, we will be subject to a fixed charge coverage ratio covenant of 1.0:1.0. | ||||||||
Debt Instrument, Cash Dividend Restriction, Fixed Charge Coverage Ratio | 1 | ||||||||
Line of Credit Facility, Expiration Period | 5 years | ||||||||
Line Of Credit Facility Additional Borrowing Capacity | $ 200,000,000 | ||||||||
Line Of Credit Facility Maximum Borrowing Capacity, Inventory, Percentage | 90.00% | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity, Credit Card Receivables, Percentage | 90.00% | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity, Inventory, Increased Borrowing Percentage | 92.50% | ||||||||
Threshold Minimum For Excess Availability | 30.00% | ||||||||
Projected Revolver Usage Percentage | 15.00% | ||||||||
Debt Instrument, Cash Dividend Restriction, Pro Forma, Fixed Charge Coverage Ratio | 1.1 | ||||||||
Ratio Covenant Lower Limit | $ 30,000,000 | ||||||||
Covenant Percentage | 10.00% | ||||||||
Commitment Fee Current | 0.25% | ||||||||
Amended Five Year Revolving Credit Facility [Member] | Federal Funds Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||
Amended Five Year Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||
Amended Five Year Revolving Credit Facility [Member] | Unsecured Debt [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Covenant Terms, Maximum Additional Indebtedness | $ 250,000,000 | ||||||||
Line of Credit Facility, Covenant Terms, Maximum Additional General Indebtedness | 750,000,000 | ||||||||
Line of Credit Facility, Covenant Terms, Maximum Additional Acquisition Indebtedness | 500,000,000 | ||||||||
Amended Five Year Revolving Credit Facility [Member] | Secured Debt [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Covenant Terms, Maximum Additional Indebtedness | 1,000,000,000 | ||||||||
Letter of Credit [Member] | Amended Five Year Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000,000 | ||||||||
Minimum | Amended Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Interest Rate Margin | 0.25% | ||||||||
Minimum | Amended Five Year Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Interest Rate Margin | 1.25% | ||||||||
Maximum | Amended Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Interest Rate Margin | 0.75% | ||||||||
Maximum | Amended Five Year Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Interest Rate Margin | 1.75% | ||||||||
LUXEMBOURG | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 20,000,000 | ||||||||
Bank Overdrafts | $ 0 | ||||||||
Guarantor Obligations, Current Carrying Value | $ 10,700,000 |
Debt Debt Table (Details)
Debt Debt Table (Details) - USD ($) $ in Millions | Jan. 28, 2017 | Mar. 09, 2016 | Jan. 30, 2016 | Sep. 24, 2014 |
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 815 | $ 345.4 | ||
Senior Notes 6.75% due 2021 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 475 | 0 | ||
Senior Notes All [Member] | ||||
Debt Instrument [Line Items] | ||||
Deferred Finance Costs, Noncurrent, Net | 10 | 4.6 | ||
Unsecured Debt [Member] | Senior Notes 5.5% due 2019 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 350 | $ 350 | $ 350 | |
Unsecured Debt [Member] | Senior Notes 6.75% due 2021 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 475 |
Leases - Approximate Rental Ex
Leases - Approximate Rental Expenses Under Operating Leases (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Leases [Abstract] | |||
Minimum | $ 437.4 | $ 394.5 | $ 391.4 |
Percentage rentals | 6.9 | 7.8 | 8.2 |
Operating Leases Rent Expense Net | $ 444.3 | $ 402.3 | $ 399.6 |
Leases - Future Minimum Annual
Leases - Future Minimum Annual Rentals, Excluding Percentage Rentals, Required Under Leases That Had Initial, Noncancelable Lease Terms Greater Than One Year (Detail) $ in Millions | Jan. 28, 2017USD ($) |
Leases [Abstract] | |
2,018 | $ 388.6 |
2,019 | 295.9 |
2,020 | 202.3 |
2,021 | 121.5 |
2,022 | 68.6 |
Thereafter | 117.7 |
Operating Leases Future Minimum Payments Due | $ 1,194.6 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | Jan. 28, 2017 | Aug. 02, 2016 | Jan. 30, 2016 |
Business Acquisition, Contingent Consideration [Line Items] | |||
Bank Guarantee Relating To International Store Leases | $ 24.5 | $ 15.7 | |
Cellular World & Red Skye [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Business Combination, Contingent Consideration, Liability | $ 43.2 | ||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | 40 | ||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 50 |
Commitments and Contingencies L
Commitments and Contingencies Litigation Contingency (Details) | 12 Months Ended |
Jan. 28, 2017 | |
French Tax Administration Assessment [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Sought | 85.5 |
Stockholders' Equity - Additio
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | Feb. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May 02, 2015 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 |
Stockholders Equity Note [Line Items] | ||||||||||||
Common Stock, Voting Rights | one vote per share | |||||||||||
Stock Repurchase Program, Authorized Amount | $ 500 | $ 500 | ||||||||||
Treasury Stock, Shares, Acquired | 3 | 5.2 | 8.4 | |||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 24.94 | $ 38.68 | $ 39.50 | |||||||||
Payments For Repurchase Of Common Stock, Settled in Current Year | $ 75.1 | $ 202 | $ 333.4 | |||||||||
Payments for Repurchase of Common Stock | 63.1 | $ 194.3 | $ 331.1 | |||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 170.2 | $ 170.2 | ||||||||||
Dividends declared per common share | $ 0.37 | $ 0.37 | $ 0.37 | $ 0.37 | $ 0.36 | $ 0.36 | $ 0.36 | $ 0.36 | $ 1.48 | $ 1.32 | $ 1.10 | |
Class A Common Stock | ||||||||||||
Stockholders Equity Note [Line Items] | ||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.48 | $ 1.44 | $ 1.32 | |||||||||
Class A Common Stock | Subsequent Event | ||||||||||||
Stockholders Equity Note [Line Items] | ||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.52 | |||||||||||
Dividends Payable, Date Declared | Feb. 28, 2017 |
Common Stock and Share-Based 70
Common Stock and Share-Based Compensation - Summary of Share Repurchase Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Stock Repurchase Program, Authorized Amount | $ 500 | ||
Treasury Stock, Shares, Acquired | 3 | 5.2 | 8.4 |
Treasury Stock Acquired, Average Cost Per Share | $ 24.94 | $ 38.68 | $ 39.50 |
Stock Repurchased During Period, Value | $ 75.1 | $ 202 | $ 333.4 |
Common Stock and Share-Based 71
Common Stock and Share-Based Compensation - Summary of Status of Company's Stock Options (Detail) | 12 Months Ended |
Jan. 28, 2017$ / sharesshares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 |
Shares | |
Balance, beginning | 1,400,000 |
Exercised | 0 |
Forfeited | (100,000) |
Balance, ending | 1,300,000 |
Weighted-Average Exercise Price | |
Balance, beginning | $ / shares | $ 35.88 |
Exercised | $ / shares | 22.58 |
Forfeited | $ / shares | 47.40 |
Balance, ending | $ / shares | $ 35.43 |
Common Stock and Share-Based 72
Common Stock and Share-Based Compensation - Summary of Outstanding and Exercisable Options (Detail) shares in Millions | 12 Months Ended |
Jan. 28, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, lower limit | $ 9.29 |
Range of Exercise Prices, upper limit | $ 49.95 |
Options Outstanding, Number Outstanding | shares | 1.3 |
Options Outstanding, Weighted-Average Remaining Life (Years) | 3 years 11 months 15 days |
Options Outstanding, Weighted-Average Contractual Price | $ 35.43 |
Options Exercisable, Number Exercisable | shares | 1.2 |
Options Exercisable, Weighted-Average Exercise Price | $ 35.19 |
$ 9.29 - $10.13 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, lower limit | 20.32 |
Range of Exercise Prices, upper limit | $ 20.69 |
Options Outstanding, Number Outstanding | shares | 0.9 |
Options Outstanding, Weighted-Average Remaining Life (Years) | 5 years 3 months 3 days |
Options Outstanding, Weighted-Average Contractual Price | $ 28.97 |
Options Exercisable, Number Exercisable | shares | 0.8 |
Options Exercisable, Weighted-Average Exercise Price | $ 27.88 |
20.32-49.95 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, lower limit | 24.82 |
Range of Exercise Prices, upper limit | $ 26.68 |
Options Outstanding, Number Outstanding | shares | 0.4 |
Options Outstanding, Weighted-Average Remaining Life (Years) | 1 year 7 days |
Options Outstanding, Weighted-Average Contractual Price | $ 49.95 |
Options Exercisable, Number Exercisable | shares | 0.4 |
Options Exercisable, Weighted-Average Exercise Price | $ 49.95 |
Range 3 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, lower limit | 38.52 |
Range of Exercise Prices, upper limit | $ 49.95 |
Common Stock and Share-Based 73
Common Stock and Share-Based Compensation - Summary of Company's Restricted Stock Awards (Detail) - Restricted Stock - $ / shares shares in Thousands | 12 Months Ended | |
Jan. 28, 2017 | Jan. 30, 2016 | |
Shares | ||
Nonvested shares at beginning of period | 1,500 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 800 | 600 |
Vested | (900) | |
Forfeited | (100) | |
Nonvested shares at end of period | 1,300 | 1,500 |
Weighted-Average Grant Date Fair Value | ||
Nonvested shares at beginning of period | $ 33.77 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 30.27 | $ 40.34 |
Vested | 30.02 | |
Forfeited | 33.14 | |
Nonvested shares at end of period | $ 34.31 | $ 33.77 |
Two Thousand Eleven Stock Incentive Plan [Member] | ||
Shares | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Group Five [Member] | Two Thousand Eleven Stock Incentive Plan [Member] | ||
Shares | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 189 | |
Group One [Member] | Two Thousand Eleven Stock Incentive Plan [Member] | ||
Shares | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 602 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Group Two [Member] | Two Thousand Eleven Stock Incentive Plan [Member] | ||
Shares | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 206 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |
Group Three [Member] | Two Thousand Eleven Stock Incentive Plan [Member] | ||
Shares | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 429 |
Common Stock and Share-Based 74
Common Stock and Share-Based Compensation - Narrative (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Payments of Dividends | $ 155.5 | $ 154.1 | $ 148.8 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0.1 | $ 6.7 | $ 10.7 |
Treasury Stock, Shares, Acquired | 3,000,000 | 5,200,000 | 8,400,000 |
Treasury Stock Acquired, Average Cost Per Share | $ 24.94 | $ 38.68 | $ 39.50 |
Stock Repurchased During Period, Value | $ 75.1 | $ 202 | $ 333.4 |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 170.2 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 0.3 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 0.3 | ||
Employee Stock Option [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Allocated Share-based Compensation Expense | 0.9 | $ 2.6 | 2.1 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 0.1 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year | ||
Restricted Stock | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 800,000 | 600,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 900,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 30.27 | $ 40.34 | |
Allocated Share-based Compensation Expense | $ 16.9 | $ 27.3 | $ 19.4 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 21.1 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 8 months 12 days | ||
Performance Shares [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Allocated Share-based Compensation Expense | $ (5.9) | ||
Two Thousand Eleven Stock Incentive Plan [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 9,250,000 | ||
Two Thousand Eleven Stock Incentive Plan [Member] | Employee Stock Option [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Share Based Compensation Arrangement By Share Based Payment Award Options Expiration Term | 10 years | ||
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | Group One [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 602,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | Group Two [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 206,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | Group Three [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 429,000 | ||
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | Group Five [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 189,000 | ||
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | Group Four [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 28,000 | ||
Two Thousand One Stock Inventive Plan [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 46,500,000 | ||
Two Thousand One Stock Inventive Plan [Member] | Employee Stock Option [Member] | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 10 years | ||
Share Based Compensation Arrangement By Share Based Payment Award Options Expiration Term | 3 years |
Common Stock and Share-Based 75
Common Stock and Share-Based Compensation Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions | Feb. 28, 2017 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 |
Class of Stock [Line Items] | ||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 170.2 | |||
Common Stock, Voting Rights | one vote per share | |||
Class A Common Stock | ||||
Class of Stock [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.48 | $ 1.44 | $ 1.32 | |
Subsequent Event [Member] | Class A Common Stock | ||||
Class of Stock [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.52 | |||
Dividends Payable, Date Declared | Feb. 28, 2017 |
Earnings Per Share - Reconcili
Earnings Per Share - Reconciliation of Common Shares Used in Calculating Basic and Diluted Net Income (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Jan. 28, 2017 | [1] | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Jan. 30, 2016 | Oct. 31, 2015 | [2] | Aug. 01, 2015 | May 02, 2015 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Earnings Per Share [Abstract] | |||||||||||||
Net Income (Loss) Attributable to Parent | $ 208.7 | $ 50.8 | $ 27.9 | $ 65.8 | $ 247.8 | $ 55.9 | $ 25.3 | $ 73.8 | $ 353.2 | $ 402.8 | $ 393.1 | ||
Weighted Average Number of Shares Outstanding, Basic | 103.4 | 106 | 112.2 | ||||||||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 0.4 | 0.7 | 1 | ||||||||||
Weighted Average Number of Shares Outstanding, Diluted | 103.8 | 106.7 | 113.2 | ||||||||||
Earnings Per Share, Basic and Diluted [Abstract] | |||||||||||||
Basic (USD per share) | $ 2.04 | $ 0.49 | $ 0.27 | $ 0.63 | $ 2.38 | $ 0.53 | $ 0.24 | $ 0.68 | $ 3.42 | $ 3.80 | $ 3.50 | ||
Diluted (USD per share) | $ 2.04 | $ 0.49 | $ 0.27 | $ 0.63 | $ 2.36 | $ 0.53 | $ 0.24 | $ 0.68 | $ 3.40 | $ 3.78 | $ 3.47 | ||
[1] | 2)The sum of the quarters may not necessarily be equal to the full year net income per common share amount. | ||||||||||||
[2] | (1)The results of operations for the fourth quarter of fiscal 2016 include asset impairments of $33.8 million. The results of operations for the fourth quarter of fiscal 2015 include asset impairments of $4.6 million. |
Earnings Per Share - Restricte
Earnings Per Share - Restricted Shares and Options to Purchase Shares of Class A Common Stock Excluded from Computation of Diluted Earnings Per Share (Detail) - shares shares in Millions | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Class A Common Stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti- Dilutive Shares | 1.4 | 1 | 1.6 |
Employees' Defined Contributi78
Employees' Defined Contribution Plan - Narrative (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |||
Percentage of eligible gross cash compensation employees are allowed to invest in the savings plan | 60.00% | ||
Employee annual investment in the savings plan, maximum | $ 18 | ||
Company's contributions to the Savings plan | $ 7,800 | $ 6,300 | $ 5,200 |
Significant Products - Sales a
Significant Products - Sales and Sales Percentage by Significant Product Category (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May 02, 2015 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Product Information [Line Items] | |||||||||||
Sales | $ 3,045.4 | $ 1,959.2 | $ 1,631.8 | $ 1,971.5 | $ 3,525 | $ 2,016.3 | $ 1,761.9 | $ 2,060.6 | $ 8,607.9 | $ 9,363.8 | $ 9,296 |
Percent of Total | 100.00% | 100.00% | 100.00% | ||||||||
New video game hardware(1) | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 1,396.7 | $ 1,944.7 | $ 2,028.7 | ||||||||
Percent of Total | 16.20% | 20.80% | 21.80% | ||||||||
New video game software | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 2,493.4 | $ 2,905.1 | $ 3,089 | ||||||||
Percent of Total | 29.00% | 31.00% | 33.20% | ||||||||
Pre-owned and value video game products | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 2,254.1 | $ 2,374.7 | $ 2,389.3 | ||||||||
Percent of Total | 26.20% | 25.40% | 25.70% | ||||||||
Video game accessories | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 676.7 | $ 703 | $ 653.6 | ||||||||
Percent of Total | 7.90% | 7.50% | 7.10% | ||||||||
Digital | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 181 | $ 188.3 | $ 216.3 | ||||||||
Percent of Total | 2.10% | 2.00% | 2.30% | ||||||||
Technology Brands | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 814 | $ 534 | $ 328.6 | ||||||||
Percent of Total | 9.50% | 5.70% | 3.50% | ||||||||
Collectibles [Member] | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 494.1 | $ 309.7 | $ 75.8 | ||||||||
Percent of Total | 5.70% | 3.30% | 0.80% | ||||||||
Other3 | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 297.9 | $ 404.3 | $ 514.7 | ||||||||
Percent of Total | 3.40% | 4.30% | 5.60% |
Significant Products - Gross P
Significant Products - Gross Profit and Gross Profit Percentages by Significant Product Category (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May 02, 2015 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Product Information [Line Items] | |||||||||||
Gross Profit | $ 1,007.9 | $ 708.2 | $ 617.7 | $ 675.5 | $ 1,043.2 | $ 655.6 | $ 580.5 | $ 639 | $ 3,009.3 | $ 2,918.3 | $ 2,775.9 |
Gross Margin Percent | 35.00% | 31.20% | 29.90% | ||||||||
New video game hardware(1) | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 154.2 | $ 175.5 | $ 196.6 | ||||||||
Gross Margin Percent | 11.00% | 9.00% | 9.70% | ||||||||
New video game software | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 600.4 | $ 689.3 | $ 716.9 | ||||||||
Gross Margin Percent | 24.10% | 23.70% | 23.20% | ||||||||
Pre-owned and value video game products | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 1,044.1 | $ 1,114.5 | $ 1,146.3 | ||||||||
Gross Margin Percent | 46.30% | 46.90% | 48.00% | ||||||||
Video game accessories | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 235.2 | $ 255.5 | $ 246.1 | ||||||||
Gross Margin Percent | 34.80% | 36.30% | 37.70% | ||||||||
Digital | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 155.5 | $ 149.6 | $ 152 | ||||||||
Gross Margin Percent | 85.90% | 79.40% | 70.30% | ||||||||
Technology Brands | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 554.6 | $ 306.6 | $ 169.1 | ||||||||
Gross Margin Percent | 68.10% | 57.40% | 51.50% | ||||||||
Collectibles [Member] | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 171.6 | $ 116.6 | $ 31.9 | ||||||||
Gross Margin Percent | 34.70% | 37.60% | 42.10% | ||||||||
Other3 | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 93.7 | $ 110.7 | $ 117 | ||||||||
Gross Margin Percent | 31.50% | 27.40% | 22.70% |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 12 Months Ended |
Jan. 28, 2017LocationCountry | |
Segment Reporting Disclosure [Line Items] | |
Number of Reportable Segments | 5 |
Video Game Brands [Member] | |
Segment Reporting Disclosure [Line Items] | |
Number of Reportable Segments | 4 |
Number of Operating Segments | 4 |
UNITED STATES | |
Segment Reporting Disclosure [Line Items] | |
Number of states the entity operates | Location | 50 |
Europe | Retail Site | |
Segment Reporting Disclosure [Line Items] | |
Number of countries in which the entity operates | 10 |
Europe | E- Commerce | |
Segment Reporting Disclosure [Line Items] | |
Number of countries in which the entity operates | 4 |
Segment Information - Informat
Segment Information - Information on Segments and Reconciliation to Earnings Before Income Taxes (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May 02, 2015 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |||
Segment Reporting Information [Line Items] | |||||||||||||
Net sales | $ 3,045.4 | $ 1,959.2 | $ 1,631.8 | $ 1,971.5 | $ 3,525 | $ 2,016.3 | $ 1,761.9 | $ 2,060.6 | $ 8,607.9 | $ 9,363.8 | $ 9,296 | ||
Segment operating earnings | 286.6 | [1] | $ 98.8 | $ 58.3 | $ 114 | 381.9 | $ 90.7 | [2] | $ 51.7 | $ 123.9 | 557.7 | 648.2 | 618.3 |
Interest income | 0.8 | 0.4 | 0.7 | ||||||||||
Interest expense | (53.8) | (23.4) | (10.7) | ||||||||||
Earnings before income taxes | 504.7 | 625.2 | 608.3 | ||||||||||
Goodwill | 1,725.2 | 1,476.7 | 1,725.2 | 1,476.7 | 1,390.4 | ||||||||
Other long-lived assets | 1,110 | 916.1 | 1,110 | 916.1 | 788.8 | ||||||||
Total assets | 4,975.9 | 4,330.3 | 4,975.9 | 4,330.3 | 4,240.4 | ||||||||
Income tax expense | 151.5 | 222.4 | 215.2 | ||||||||||
Depreciation and amortization | 165.2 | 156.6 | 154.4 | ||||||||||
Capital expenditures | 142.7 | 173.2 | 159.6 | ||||||||||
Technology Brands | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Net sales | 814 | 534 | 328.6 | ||||||||||
Segment operating earnings | 44.2 | 27 | 32.9 | ||||||||||
Goodwill | 352 | 112.9 | 352 | 112.9 | 66.6 | ||||||||
Other long-lived assets | 530.4 | 321.3 | 530.4 | 321.3 | 185.9 | ||||||||
Total assets | 1,118.5 | 588.7 | 1,118.5 | 588.7 | 344.2 | ||||||||
Income tax expense | 12.3 | 8.9 | 11.2 | ||||||||||
Depreciation and amortization | 34.1 | 21.2 | 7.7 | ||||||||||
Capital expenditures | 38.7 | 58.9 | 31.1 | ||||||||||
UNITED STATES | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Net sales | 5,488.9 | 6,435.1 | 6,193.5 | ||||||||||
Segment operating earnings | 430.2 | 504.3 | 483.2 | ||||||||||
Goodwill | 1,199.7 | 1,195.5 | 1,199.7 | 1,195.5 | 1,143.3 | ||||||||
Other long-lived assets | 285.5 | 329.9 | 285.5 | 329.9 | 324 | ||||||||
Total assets | 2,583.3 | 2,698.5 | 2,583.3 | 2,698.5 | 2,734.4 | ||||||||
Income tax expense | 140.6 | 195 | 198.1 | ||||||||||
Depreciation and amortization | 92.9 | 98.8 | 102.5 | ||||||||||
Capital expenditures | 61.8 | 76.9 | 92.3 | ||||||||||
CANADA | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Net sales | 382 | 446.6 | 476.4 | ||||||||||
Segment operating earnings | 22.4 | 29.4 | 28.3 | ||||||||||
Goodwill | 28.6 | 26.9 | 28.6 | 26.9 | 29.5 | ||||||||
Other long-lived assets | 23 | 17.6 | 23 | 17.6 | 18.4 | ||||||||
Total assets | 271.6 | 259.2 | 271.6 | 259.2 | 252.1 | ||||||||
Income tax expense | 6 | 6.1 | 4.2 | ||||||||||
Depreciation and amortization | 3.8 | 3.5 | 3.8 | ||||||||||
Capital expenditures | 1.3 | 4.4 | 5.1 | ||||||||||
AUSTRALIA | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Net sales | 609.5 | 591.4 | 644.7 | ||||||||||
Segment operating earnings | 34.9 | 38.7 | 38 | ||||||||||
Goodwill | 70.1 | 65.7 | 70.1 | 65.7 | 72.1 | ||||||||
Other long-lived assets | 56.5 | 47 | 56.5 | 47 | 46.4 | ||||||||
Total assets | 434.6 | 382.2 | 434.6 | 382.2 | 382.5 | ||||||||
Income tax expense | 7.7 | 8.3 | 8.4 | ||||||||||
Depreciation and amortization | 9.4 | 8.8 | 9.6 | ||||||||||
Capital expenditures | 15.1 | 12.8 | 11.2 | ||||||||||
Europe | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Net sales | 1,313.5 | 1,356.7 | 1,652.8 | ||||||||||
Segment operating earnings | 26 | 48.8 | 35.9 | ||||||||||
Goodwill | 74.8 | 75.7 | 74.8 | 75.7 | 78.9 | ||||||||
Other long-lived assets | 214.6 | 200.3 | 214.6 | 200.3 | 214.1 | ||||||||
Total assets | $ 567.9 | $ 401.7 | 567.9 | 401.7 | 527.2 | ||||||||
Income tax expense | (15.1) | 4.1 | (6.7) | ||||||||||
Depreciation and amortization | 25 | 24.3 | 30.8 | ||||||||||
Capital expenditures | $ 25.8 | $ 20.2 | $ 19.9 | ||||||||||
[1] | 2)The sum of the quarters may not necessarily be equal to the full year net income per common share amount. | ||||||||||||
[2] | (1)The results of operations for the fourth quarter of fiscal 2016 include asset impairments of $33.8 million. The results of operations for the fourth quarter of fiscal 2015 include asset impairments of $4.6 million. |
Unaudited Quarterly Financial83
Unaudited Quarterly Financial Information - Consolidated Statement of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May 02, 2015 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||
Restructuring, Settlement and Impairment Provisions | $ 33.8 | $ 4.6 | $ 2.2 | ||||||||||
Net sales | $ 3,045.4 | $ 1,959.2 | $ 1,631.8 | $ 1,971.5 | $ 3,525 | $ 2,016.3 | $ 1,761.9 | $ 2,060.6 | 8,607.9 | 9,363.8 | 9,296 | ||
Gross Profit | 1,007.9 | 708.2 | 617.7 | 675.5 | 1,043.2 | 655.6 | 580.5 | 639 | 3,009.3 | 2,918.3 | 2,775.9 | ||
Operating earnings (loss) | 286.6 | [1] | 98.8 | 58.3 | 114 | 381.9 | 90.7 | [2] | 51.7 | 123.9 | 557.7 | 648.2 | 618.3 |
Consolidated net income (loss) attributable to GameStop Corp. | $ 208.7 | [1] | $ 50.8 | $ 27.9 | $ 65.8 | $ 247.8 | $ 55.9 | [2] | $ 25.3 | $ 73.8 | $ 353.2 | $ 402.8 | $ 393.1 |
Basic | $ 2.04 | [1] | $ 0.49 | $ 0.27 | $ 0.63 | $ 2.38 | $ 0.53 | [2] | $ 0.24 | $ 0.68 | $ 3.42 | $ 3.80 | $ 3.50 |
Diluted | 2.04 | [1] | 0.49 | 0.27 | 0.63 | 2.36 | 0.53 | [2] | 0.24 | 0.68 | 3.40 | 3.78 | 3.47 |
Dividends declared per common share | $ 0.37 | $ 0.37 | $ 0.37 | $ 0.37 | $ 0.36 | $ 0.36 | $ 0.36 | $ 0.36 | $ 1.48 | $ 1.32 | $ 1.10 | ||
Asset Impairment Charges | $ 4.6 | $ 33.8 | $ 4.6 | $ 2.2 | |||||||||
[1] | 2)The sum of the quarters may not necessarily be equal to the full year net income per common share amount. | ||||||||||||
[2] | (1)The results of operations for the fourth quarter of fiscal 2016 include asset impairments of $33.8 million. The results of operations for the fourth quarter of fiscal 2015 include asset impairments of $4.6 million. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | |
Sched II - Valuation and Qualifying Accounts [Abstract] | |||||
Valuation Allowances and Reserves, Balance | $ 59 | $ 61.5 | $ 69.3 | $ 76.5 | |
Valuation Allowances and Reserves, Charged to Cost and Expense | 47.5 | 36.9 | $ 40.9 | ||
Valuation Allowances and Reserves, Charged to Other Accounts | 49.6 | 58.2 | 55.8 | ||
Valuation Allowances and Reserves, Deductions | $ (99.6) | $ (102.9) | $ (103.9) |