Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Mar. 22, 2018 | Jul. 29, 2017 | |
Document Documentand Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Feb. 3, 2018 | ||
Document Fiscal Year Focus | 2,017 | ||
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 | --02-03 | ||
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 | 101,583,319 | ||
Entity Public Float | $ 2,130 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Feb. 03, 2018 | Jan. 28, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 864.4 | $ 669.4 |
Receivables, net | 182.7 | 220.9 |
Merchandise inventories, net | 1,366.7 | 1,121.5 |
Prepaid expenses and other current assets | 124.9 | 128.9 |
Total current assets | 2,538.7 | 2,140.7 |
Property and equipment: | ||
Land | 19.9 | 18.6 |
Buildings and leasehold improvements | 769.8 | 724.5 |
Fixtures and equipment | 973.5 | 931.4 |
Total property and equipment | 1,763.2 | 1,674.5 |
Less accumulated depreciation | 1,330 | 1,203.5 |
Property and equipment, net | 433.2 | 471 |
Deferred Tax Assets, Net, Noncurrent | 158.2 | 59 |
Goodwill | 1,667.3 | 1,725.2 |
Other intangible assets, net | 169.5 | 507.2 |
Other noncurrent assets | 74.7 | 72.8 |
Total noncurrent assets | 2,502.9 | 2,835.2 |
Total assets | 5,041.6 | 4,975.9 |
Current liabilities: | ||
Accounts payable | 902 | 616.6 |
Accrued liabilities | 976.1 | 1,090.9 |
Income taxes payable | 37.5 | 54 |
Total current liabilities | 1,915.6 | 1,761.5 |
Deferred income taxes | 5 | 23 |
Other long-term liabilities | 88.6 | 122.3 |
Other long-term liabilities | 817.9 | 815 |
Total long-term liabilities | 911.5 | 960.3 |
Total liabilities | 2,827.1 | 2,721.8 |
Stockholders’ equity: | ||
Class A common stock — $.001 par value; authorized 300.0 shares; 101.3 and 101.0 shares issued, 101.3 and 101.0 shares outstanding, respectively | 0.1 | 0.1 |
Additional paid-in capital | 22.1 | 0 |
Accumulated other comprehensive income (loss) | 12.2 | (47.3) |
Retained earnings | 2,180.1 | 2,301.3 |
Total stockholders' equity | 2,214.5 | 2,254.1 |
Total liabilities and stockholders’ equity | $ 5,041.6 | $ 4,975.9 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Feb. 03, 2018 | Jan. 28, 2017 |
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 | 101,300,000 | 101,000,000 |
Class A common stock, shares outstanding | 101,300,000 | 101,000,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Income Statement [Abstract] | |||
Net sales | $ 9,224,600,000 | $ 8,607,900,000 | $ 9,363,800,000 |
Cost of sales | 6,184,500,000 | 5,598,600,000 | 6,445,500,000 |
Gross profit | 3,040,100,000 | 3,009,300,000 | 2,918,300,000 |
Selling, general and administrative expenses | 2,363,000,000 | 2,252,600,000 | 2,108,900,000 |
Depreciation and amortization | 150,700,000 | 165,200,000 | 156,600,000 |
Operating earnings | 135,600,000 | 557,700,000 | 648,200,000 |
Interest income | (1,500,000) | (800,000) | (400,000) |
Interest expense | 56,800,000 | 53,800,000 | 23,400,000 |
Earnings before income tax expense | 80,300,000 | 504,700,000 | 625,200,000 |
Income tax expense | 45,600,000 | 151,500,000 | 222,400,000 |
Net income | 34,700,000 | 353,200,000 | 402,800,000 |
Net Income (Loss) Attributable to Parent | $ 34,700,000 | $ 353,200,000 | $ 402,800,000 |
Basic | $ 0.34 | $ 3.42 | $ 3.80 |
Diluted | $ 0.34 | $ 3.40 | $ 3.78 |
Basic | 101.4 | 103.4 | 106 |
Diluted | 101.5 | 103.8 | 106.7 |
Goodwill impairments | $ 32,800,000 | $ 0 | $ 0 |
Other Asset Impairment Charges | $ 358,000,000 | $ 33,800,000 | $ 4,600,000 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 34.7 | $ 353.2 | $ 402.8 |
Other comprehensive income (loss): | |||
Foreign currency translation adjustments | 59.5 | 41.5 | (63.4) |
Total comprehensive income | $ 94.2 | $ 394.7 | $ 339.4 |
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. | $ 402.8 | ||||
Balance (in shares) at Jan. 31, 2015 | 107.7 | ||||
Balance at Jan. 31, 2015 | 2,067.7 | $ 0.1 | $ 0 | $ (25.4) | $ 2,093 |
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 | 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 net income (loss) attributable to GameStop Corp. | 34.7 | ||||
Comprehensive income (loss): | |||||
Net income (loss) | 34.7 | ||||
Foreign currency translation adjustments | 59.5 | 59.5 | |||
Dividends | (155.9) | (155.9) | |||
Stock-based compensation | 25.6 | 25.6 | |||
Repurchases of common stock | 0 | ||||
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants (in shares) | 0.3 | ||||
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | (3.5) | (3.5) | |||
Balance (in shares) at Feb. 03, 2018 | 101.3 | ||||
Balance at Feb. 03, 2018 | $ 2,214.5 | $ 0.1 | $ 22.1 | $ 12.2 | $ 2,180.1 |
Consolidated Statements Of Cha7
Consolidated Statements Of Changes In Equity (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Statement of Stockholders' Equity [Abstract] | |||
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net | $ 0 | $ 0.8 | $ 4.4 |
Dividends declared per common share | $ 1.52 | $ 1.32 | $ 1.10 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Statement of Cash Flows [Abstract] | |||
Cash Acquired from Acquisition | $ 0.1 | $ 13.9 | $ 3.6 |
Interest | 14 | 23.3 | 21.8 |
Cash flows from operating activities: | |||
Net income | 34.7 | 353.2 | 402.8 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | |||
Depreciation and amortization (including amounts in cost of sales) | 151.9 | 166.7 | 158.2 |
Asset Impairment Charges | 395.1 | 33.8 | 4.6 |
Stock-based compensation expense | 25.6 | 17.8 | 29.9 |
DeferredIncomeTaxExpenseForCashFlow | (107.9) | (37.2) | (1.5) |
Excess Tax Benefit from Share-based Compensation, Operating Activities | 0 | 0.8 | (4.4) |
Loss on disposal of property and equipment | 8.5 | 10.4 | 3.6 |
Gain (Loss) on Disposition of Business | (6.4) | ||
Other Operating Activities, Cash Flow Statement | 24.9 | 15.5 | (4.6) |
Changes in operating assets and liabilities: | |||
Receivables, net | 35.7 | (43.9) | (58.1) |
Merchandise inventories | (256.3) | 14.7 | (49.2) |
Prepaid expenses and other current assets | (1.2) | (11.4) | (6) |
Prepaid income taxes and income taxes payable | (24.7) | (49.1) | 95.9 |
Accounts payable and accrued liabilities | 169.8 | 64.1 | 91.4 |
Changes in other long-term liabilities | (14.8) | 1.7 | (5.8) |
Net cash flows provided by operating activities | 434.9 | 537.1 | 656.8 |
Cash flows from investing activities: | |||
Purchase of property and equipment | (113.4) | (142.7) | (173.2) |
Acquisitions, net of cash acquired of $0.0, $0.1, and $13.9, respectively | (8.5) | (441.2) | (267.5) |
Proceeds from Divestiture of Businesses | 55 | 0 | 0 |
Other | 3.2 | 5.9 | (3.9) |
Net cash flows used in investing activities | (63.7) | (578) | (444.6) |
Cash flows from financing activities: | |||
Repayment of acquisition-related debt | (21.8) | (0.4) | (2.2) |
Repurchase of common shares | (22) | (63.1) | (194.3) |
Dividends paid | (155.2) | (155.5) | (154.1) |
Proceeds from Issuance of Long-term Debt | 0 | 475 | 0 |
Borrowings from the revolver | 373 | 545 | 463 |
Repayments of revolver borrowings | (373) | (545) | (463) |
Payments of Financing Costs | 0 | (8.1) | 0 |
Payments Related to Tax Withholding for Share-based Compensation | (3.5) | (8.4) | |
Issuance of common stock, net of share repurchases for withholding taxes | 0 | ||
Excess Tax Benefit from Share-based Compensation, Financing Activities | 0 | (0.8) | 4.4 |
Net cash flows (used in) provided by financing activities | (202.5) | 238.7 | (346.2) |
Exchange rate effect on cash and cash equivalents | 26.3 | 21.2 | (25.7) |
Increase (decrease) in cash and cash equivalents | 195 | 219 | (159.7) |
Cash and cash equivalents at beginning of period | 669.4 | 450.4 | 610.1 |
Cash and cash equivalents at end of period | 864.4 | 669.4 | 450.4 |
Income Taxes Paid | $ 168.3 | $ 230.1 | $ 122.2 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Feb. 03, 2018 | |
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 that makes the most popular technologies affordable and simple. Within our family of brands, we are the world’s largest omnichannel video game retailer, the largest AT&T® (“AT&T”) authorized retailer, the largest Apple© (“Apple”) certified products reseller, and the owner of www.thinkgeek.com, one of the world’s largest sellers of collectible pop-culture themed products. As of February 3, 2018 , GameStop's retail network and family of brands include 7,276 company-operated stores in the United States, Canada, Australia and Europe. 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. Our largest vendors in our Video Game Brands segments are Nintendo, Sony, Microsoft, Activision Blizzard and Electronic Arts, which accounted for 22% , 20% , 10% , 6% and 6% , respectively, of our new product purchases in fiscal year 2017; 10% , 24% , 14% , 6% and 7% , respectively, in fiscal year 2016 ; and 11% , 27% , 19% , 9% and 10% , respectively, in fiscal year 2015 . 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. Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2017 consisted of the 53 weeks ended on February 3, 2018 ("fiscal 2017 "). 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 "). 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 $14.9 million and $10.2 million as of February 3, 2018 and January 28, 2017 , 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 February 3, 2018 and January 28, 2017 were $59.2 million and $59.0 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 two 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 $138.4 million , $151.7 million and $144.9 million for fiscal 2017 , 2016 and 2015 , 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 $18.2 million , $19.4 million and $4.4 million in fiscal 2017 , 2016 and 2015 , 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, Canada, Australia 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. In order to test goodwill for impairment, we compare a reporting unit's carrying amount to its estimated fair value. If the reporting unit’s carrying value exceeds its estimated fair value, then an impairment charge is recorded in the amount of the excess. The estimated fair value of a reporting unit is determined based on its discounted cash flows, which are derived from our long-term financial forecasts. The discounted cash flows analysis requires significant assumptions including, among others, a discount rate and a terminal value. Goodwill impairment charges of $32.8 million were recognized in fiscal 2017 . See Note 6, "Goodwill and Intangible Assets" for additional information. No goodwill impairment charges were recognized in fiscal 2016 and 2015 . 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 2017 and fiscal 2016 annual impairment testing, we recognized impairment charges totaling $339.8 million and $14.4 million , respectively, associated with our dealer agreements and trade names. 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. 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 ("FASB") 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. In May 2014, the FASB issued a comprehensive update to current revenue accounting standards; see "—Recent Accounting Pronouncements" for additional information. 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 $162.5 million , $184.3 million and $208.2 million were recorded as a reduction of cost of sales for fiscal 2017 , 2016 and 2015 , 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. In May 2014, the FASB issued a comprehensive update to current revenue accounting standards, which will impact the accounting for our PowerUp Rewards loyalty program. See "—Recent Accounting Pronouncements" for additional information. 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 2017 , 2016 and 2015 totaled $83.3 million , $76.6 million and $66.6 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 2031 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 from foreign currency transactions and derivatives are included in selling, general and administrative expenses and were $2.4 million , $4.5 million and $1.6 million in fiscal 2017 , 2016 and 2015 , 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 January 2017, the FASB issued Accounting Standard Update ("ASU") 2017-04, Intangibles—Goodwill and Other, Simplifying the Test for Goodwill Impairment , which 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. We early adopted this updated standard, effective January 29, 2017. In October 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory , which eliminates the exception to defer the tax effects of intra-entity asset transfers (intercompany sales). Prior to this update, the tax effects of intra-entity asset transfers were deferred until the transferred asset was sold to a third party or otherwise recovered through use, which was an exception to the general requirement for comprehensive recognition of current and deferred income taxes. We early adopted this updated standard, effective January 29, 2017, and as a result we recognize tax expense or benefit from intercompany sales of assets other than inventory in the period in which the transaction occurs. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies several aspects of accounting for employee share-based payment transactions. The amendments of the updated standard include, among other things, the requirement to recognize excess tax benefits and deficiencies through earnings and present the related cash flows in operating activities in the statement of cash flows, the election of a policy to either estimate forfeitures when determining periodic expense or recognize actual forfeitures when they occur, and an increase in the allowable income tax withholding from the minimum to maximum statutory rate and its classification in the statement of cash flows. As a result of the adoption of this updated standard, effective January 29, 2017, excess tax benefits and deficiencies are recognized in our results of operations and are presented in cash flows from operating activities in our statement of cash flows on a prospective basis. In addition, we elected to recognize actual forfeitures of stock-based awards as they occur. The adoption of this updated standard did not result in a material impact to our consolidated financial statements. Recent Accounting Pronouncements In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The new guidance is intended to more closely align hedge accounting with entities’ hedging strategies, simplify the application of hedge accounting and increase the transparency of hedging programs. The new guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We do not anticipate that adoption of this standard 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 May 2014, the FASB issued ASU 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 requires additional disclosures on the nature, timing, and uncertainty of revenue and related cash flows. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date , which delayed the effective date of ASU 2014-09 by one year to December 15, 2017 (with early adoption permitted). In 2016, the FASB issued several ASUs that further amended the new revenue standard in the areas of principal versus agent evaluation, licenses of intellectual property, identifying performance obligations, and other clarifications and technical corrections. Entities may use either a full retrospective or modified retrospective transition approach in applying these ASUs. The new revenue standard will primarily impact the accounting of our PowerUp Rewards loyalty program and the recognition of breakage associated with our gift cards liability. For our loyalty program, we currently estimate the net cost of the rewards that will be issued and redeemed and record this cost (presented as cost of sales) and the associated balance sheet liability as points are accumulated by our loyalty program members. Under the new standard, the transaction price will be allocated between the product(s) sold and loyalty points earned, where the portion allocated to the loyalty points will be initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration of the loyalty points. Estimated breakage on unused gift cards and merchandise credit liabilities is currently recognized on a quarterly basis (recorded to cost of sales) for balances older than two years to the extent that we believe the likelihood of redemption is remote. Under the new standard, we will recognize breakage in revenue based on and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. We will adopt the new standard in the first quarter of fiscal 2018, using the modified-retrospective transition approach. Under this approach, we will apply the new revenue standard on a prospective basis, effective February 4, 2018, and record adjustments to our fiscal 2018 opening balance sheet (as of February 4, 2018) to reflect the cumulative effect of the new revenue standard. We will also provide quantitative and qualitative disclosures of the new standard’s impact to each of our financial statement line items during fiscal 2018. The cumulative-effect adjustment will include a reduction of our gift card and customer deposit liabilities of approximately $46 million , an increase to our loyalty program liabilities of approximately $28 million and a net increase to our retained earnings of approximately $18 million (approximately $12 million , net of tax). In addition, the adoption of the new standard will result in expanded revenue recognition disclosures. We do not expect the adoption of the new revenue standard to have a material impact to our consolidated statements of operations or statements of cash flows. 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 ter |
Asset Impairments
Asset Impairments | 12 Months Ended |
Feb. 03, 2018 | |
Text Block [Abstract] | |
Asset Impairments and Restructuring Charges | 2. Asset Impairments A summary of our asset impairment charges, by reportable segment, for fiscal 2017 , 2016 and 2015 is as follows (in millions): United States Canada Australia Europe Technology Brands Total Fiscal 2017 Intangible asset impairment charges $ — $ — $ — $ — $ 339.8 $ 339.8 Store and other asset impairment charges 1.2 — 0.3 1.2 15.5 18.2 Total $ 1.2 $ — $ 0.3 $ 1.2 $ 355.3 $ 358.0 Fiscal 2016 Intangible asset impairment charges $ — $ — $ — $ 7.4 $ 7.0 $ 14.4 Store and other asset impairment charges 0.3 0.2 — 2.3 16.6 19.4 Total $ 0.3 $ 0.2 $ — $ 9.7 $ 23.6 $ 33.8 Fiscal 2015 Intangible asset impairment charges $ — $ — $ — $ 0.2 $ — $ 0.2 Store and other asset impairment charges 2.8 — — 0.6 1.0 4.4 Total $ 2.8 $ — $ — $ 0.8 $ 1.0 $ 4.6 See Note 6, "Goodwill and Intangible Assets," for information regarding our intangible asset impairment charges. Store and other asset impairment charges relate to our evaluation of store property, equipment and other assets in situations where an asset’s carrying value was not expected to be recovered by its future cash flows over its remaining useful life. |
Acquisitions and Divestitures
Acquisitions and Divestitures | 12 Months Ended |
Feb. 03, 2018 | |
Business Combinations [Abstract] | |
Acquisitions | 3. Acquisitions and Divestitures Fiscal 2017 Disposition of Kongregate On July 21, 2017, we sold our ownership interest in Kongregate, a web and mobile gaming platform and publisher of mobile games, for proceeds of $54.7 million , net of transaction costs, of which $3.5 million was restricted cash held in escrow primarily for indemnification purposes. We recognized a gain on the sale of $6.4 million , net of tax, which is classified in selling, general and administrative expenses in our consolidated statements of operations for fiscal 2017. The disposed net assets of Kongregate primarily consisted of goodwill. Disposition of Cricket Wireless On January 24, 2018, we sold 63 Cricket Wireless branded stores for proceeds of $3.8 million . The gain on the sale was not material to our results of operations for fiscal 2017. We had no remaining Cricket Wireless stores as of February 3, 2018. Fiscal 2016 Acquisition of Cellular World & Red Skye Wireless In August 2016, 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 included the effect of working capital adjustments, and future contingent consideration. 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. 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 In May 2016, in connection with the 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. In July 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 provided an expansion of our global omnichannel platform and enabled 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, 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. |
Fair Value Measurements and Fin
Fair Value Measurements and Financial Instruments | 12 Months Ended |
Feb. 03, 2018 | |
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 August 2016, we acquired certain assets from Cellular World and Red Skye Wireless (see Note 3, "Acquisitions and Divestitures"). The purchase price included two contingent payments with an acquisition-date liability of $43.2 million representing the total estimated fair value of the contingent consideration. The first payment of $20.0 million was contingent on the relocation of certain stores and was paid in August 2017. The second payment was variable and contingent on the sales performance of certain acquired stores during calendar year 2017. Based on the actual sales performance of these stores, we recognized an $11.0 million adjustment to reduce the contingent liability to $12.2 million during fiscal 2017, which was paid in the first quarter of fiscal 2018. 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. 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): February 3, 2018 January 28, 2017 Level 2 Level 3 Level 2 Level 3 Assets: Foreign currency contracts Other current assets $ 2.4 $ — $ 13.3 $ — Other noncurrent assets — — 0.1 — Company-owned life insurance (1) 13.9 — 12.4 — Total assets $ 16.3 $ — $ 25.8 $ — Liabilities: Foreign currency contracts Accrued liabilities $ 9.9 $ — $ 4.3 $ — Other long-term liabilities — — 0.1 — Nonqualified deferred compensation (2) 1.2 — 1.0 — Contingent consideration (3) — 12.2 — 43.2 Total liabilities $ 11.1 $ 12.2 $ 5.4 $ 43.2 ___________________ (1) Recognized in other non-current assets in our consolidated balance sheets. (2) Recognized in accrued liabilities in our consolidated balance sheets. (3) As of February 3, 2018, $12.2 million was included in accrued liabilities in our consolidated balance sheets. As of January 28, 2017, the current portion of $20.0 million was recognized in accrued liabilities and the noncurrent portion of $23.2 million was 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 $563.3 million and $586.0 million as of February 3, 2018 and January 28, 2017 , 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 2017 2016 2015 (Losses) gains on the changes in fair value of derivative instruments $ (24.6 ) $ 20.0 $ (5.2 ) Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities 27.0 (15.5 ) 6.8 Total $ 2.4 $ 4.5 $ 1.6 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 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 2017, we recognized impairment charges of $328.8 million and $11.0 million associated with our Spring Mobile AT&T dealer agreements and Simply Mac Apple dealer agreements, respectively, to reflect their fair values of $77.0 million and zero , respectively. In fiscal 2016, we recognized impairment charges of $7.0 million associated with our Simply Mac Apple dealer agreement to reflect its fair value of $11.0 million . In fiscal 2016, we recognized impairment charges of $7.4 million , associated with our Micromania trade name, to reflect its fair value of $35.0 million . In fiscal 2017, 2016 and 2015, we recognized impairment charges of $18.2 million , $19.4 million and $4.4 million , respectively, primarily associated store-level property and equipment, to reflect their fair values of zero. The fair value estimates of the dealer agreements, trade names and store-level property and equipment are 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, projected sales and cost estimates, capital expenditures, royalty rates, discount rates, terminal values 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 February 3, 2018 , our unsecured 5.50% senior notes due in 2019 had a net carrying value of $347.9 million and a fair value of $356.0 million , and our unsecured 6.75% senior notes due in 2021 had a net carrying value of $470.0 million and a fair value of $495.7 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 |
Feb. 03, 2018 | |
Receivables [Abstract] | |
Receivables, Net | 5. Receivables, Net Receivables consisted of the following (in millions): February 3, 2018 January 28, 2017 Bankcard receivables $ 51.2 $ 39.5 Vendor receivables (1) 96.8 143.3 Technology Brands carrier receivables 42.3 41.0 Other receivables 1.8 2.8 Allowance for doubtful accounts (9.4 ) (5.7 ) Total receivables, net $ 182.7 $ 220.9 ___________________________ (1) Vendor receivables primarily relate to vendor allowances. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Feb. 03, 2018 | |
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 2016 and 2017 were as follows (in millions): United States Canada Australia Europe Technology Brands Total 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 Divestitures (Note 3) (40.2 ) — — — (2.4 ) (42.6 ) Foreign currency translation adjustment — 1.7 3.5 12.3 — 17.5 Impairment charge — — — — (32.8 ) (32.8 ) Balance at February 3, 2018 $ 1,159.5 $ 30.3 $ 73.6 $ 87.1 $ 316.8 $ 1,667.3 On an annual basis, we perform an impairment test of goodwill during the fourth quarter (see Note 1, "Nature of Operations and Summary of Significant Accounting Policies"). As a result of the fiscal 2017 annual impairment test, we determined that the carrying amount of our Technology Brands business exceeded its fair value and recognized a goodwill impairment charge of $32.8 million . The impairment was the result of a decline in the projected profitability and store count growth in our Technology Brands business, primarily associated with Spring Mobile. The lower projected profitability is due to the negative impact of a longer upgrade cycle for new mobile devices and changes made by AT&T to the compensation structure in 2017. While Technology Brands remains profitable, we currently do not expect to invest and grow the store count at the levels in previous long-term financial forecasts. No goodwill impairment charges were recognized in fiscal 2016 and 2015 . Cumulative goodwill impairment charges were $673.3 million as of February 3, 2018 , of which $13.5 million , $100.3 million , $107.1 million , $419.6 million and $32.8 million were attributable to our United States, Canada, Australia, Europe and Technology Brands segments, respectively. Intangible Assets The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of February 3, 2018 and January 28, 2017 were as follows (in millions): February 3, 2018 January 28, 2017 Gross Carrying Amount (1) Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets with indefinite lives: Trade names $ 49.3 $ — $ 49.3 $ 43.7 $ — $ 43.7 Dealer agreements 77.0 — 77.0 409.3 — 409.3 Intangible assets with finite lives: Leasehold rights 100.4 (67.0 ) 33.4 86.4 (51.4 ) 35.0 Customer relationships 14.5 (6.8 ) 7.7 14.5 (4.1 ) 10.4 Other 33.5 (31.4 ) 2.1 39.5 (30.7 ) 8.8 Total $ 274.7 $ (105.2 ) $ 169.5 $ 593.4 $ (86.2 ) $ 507.2 ___________________ (1) The change in the gross carrying amount of intangible assets from January 28, 2017 to February 3, 2018 is due to impairments (see Note 2, "Asset Impairments") and the impact of exchange rate fluctuations. Indefinite-lived Intangible Assets Our trade names consist of Micromania, our video game business in France, which we acquired in 2008; and ThinkGeek, our online and wholesale collectibles retailer, which we acquired in 2015. Dealer agreements are associated with our Spring Mobile and Simply Mac businesses within our Technology Brands segment. Spring Mobile maintains exclusive agreements with AT&T to operate AT&T branded stores as an “Authorized Retailer” and Simply Mac maintains exclusive agreements with Apple to sell their products in Simply Mac branded stores. The dealer agreements carrying amount included in our consolidated balance sheets represents the value associated with the rights and privileges afforded to us under these agreements. Indefinite-lived intangible assets are expected to contribute to cash flows indefinitely and, therefore, are not subject to amortization but are subject to annual impairment testing. We test our indefinite-lived intangible assets during the fourth quarter (see Note 1, "Nature of Operations and Summary of Significant Accounting Policies"). As a result of our fiscal 2017 annual impairment testing, we recognized impairment charges totaling $339.8 million associated with our dealer agreements. The dealer agreement impairment charges included $328.8 million for Spring Mobile and $11.0 million for Simply Mac. The impairment of Spring Mobile’s AT&T dealer agreements was the result of the decline in projected profitability in our long-term financial forecasts as described above in “—Goodwill.” The impairment of Simply Mac’s Apple dealer agreements was the result of recent and projected financial performance no longer supporting its carrying value. 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 design portfolio and favorable leasehold interests. The design portfolio reflects the collection of product designs and ideas that were created by Geeknet and recorded as a result of the Geeknet acquisition. These designs are amortized on a straight-line basis over three 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 February 3, 2018 , the total weighted-average amortization period for our finite-lived intangible assets was approximately 9.4 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 2017 , 2016 and 2015 was $13.4 million , $15.0 million and $13.4 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 2019 $ 11.4 2020 8.7 2021 6.4 2022 4.5 2023 3.7 $ 34.7 |
Income Taxes
Income Taxes | 12 Months Ended |
Feb. 03, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 7. Income Taxes The provision for income taxes consisted of the following (in millions): Fiscal Year 2017 2016 2015 Current tax expense: Federal $ 110.1 $ 143.8 $ 178.7 State 14.9 13.5 16.3 Foreign 28.5 29.2 28.9 153.5 186.5 223.9 Deferred tax expense (benefit): Federal (78.5 ) (1.2 ) 0.2 State (13.4 ) (0.2 ) 3.6 Foreign (16.0 ) (33.6 ) (5.3 ) (107.9 ) (35.0 ) (1.5 ) Total income tax expense $ 45.6 $ 151.5 $ 222.4 The components of earnings before income tax expense consisted of the following (in millions): Fiscal Year 2017 2016 2015 United States $ 7.1 $ 446.8 $ 553.5 International 73.2 57.9 71.7 Total $ 80.3 $ 504.7 $ 625.2 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. Certain prior year rates have been reclassified to conform with current year presentation: Fiscal Year 2017 2016 2015 Federal statutory tax rate (1) 33.7 % 35.0 % 35.0 % State income taxes, net of federal effect (0.8 ) 1.7 2.1 Foreign income tax rate differential (5.1 ) (0.9 ) (1.0 ) Change in valuation allowance (5.1 ) 4.1 (0.9 ) Subpart F income 1.5 1.3 0.9 Change in unrecognized tax benefits (7.1 ) 2.3 0.9 Interest income from hybrid securities (4.0 ) (0.6 ) (1.6 ) Transition tax 12.7 — — Tax reform 39.6 — — Realization of losses in foreign operations not previously benefited (2) — (8.3 ) — Loss on investment in foreign subsidiary — (3.2 ) — Intercompany sale of intangible assets (16.4 ) — — Foreign tax credit (11.7 ) (0.1 ) (0.1 ) Withholding tax expense 11.2 0.2 0.2 Impairment of goodwill 8.5 — — Stock compensation 3.1 — — Divestitures (2.7 ) — — Domestic production activities deduction (1.7 ) (0.3 ) (0.5 ) Nondeductible interest 2.3 0.5 0.4 Unrealized (gains) losses on foreign currency exchange (1.9 ) (0.1 ) — Other (including permanent differences) (3) 0.7 (1.6 ) 0.2 56.8 % 30.0 % 35.6 % ___________________ (1) Per IRC Section 15, we have incorporated a blended rate of 33.7% for our year end current provision ending February 3, 2018. (2) 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.” (3) Other is comprised of numerous items, none of which is greater than 1.69% of earnings before income taxes. On December 22, 2017, H.R. 1, formerly known as the Tax Cuts and Jobs Act of 2017 (the “Tax Act”), was signed into law. The Tax Act makes broad and complex changes to the Internal Revenue Code, including, but not limited to: (i) reducing the future U.S. federal corporate tax rate from 35 percent to 21 percent; (ii) requiring companies to pay a one-time transition tax on certain unremitted earnings of foreign subsidiaries; and (iii) providing for bonus depreciation that will allow full expensing of certain qualified property. The Tax Act also established new tax laws that will come into effect beginning in 2018, including, but not limited to: (i) the reduction of the U.S. federal corporate tax rate discussed above; (ii) a general elimination of U.S. federal income taxes on dividends from certain foreign subsidiaries; (iii) a new provision designed to tax global intangible low-taxed income (“GILTI”); (iv) the repeal of the domestic production activity deductions; (v) limitations on the deductibility of certain executive compensation; (vi) limitations on the use of certain foreign tax credits to reduce the U.S. income tax liability; and (vii) a new provision that allows a domestic corporation an immediate deduction for a portion of its foreign derived intangible income (“FDII”). Further, the Securities and Exchange Commission staff issued Staff Accounting Bulletin (“SAB”) 118, which provides guidance on accounting for the immediate tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the related accounting under ASC 740, Accounting for Income Taxes. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for a certain income tax effect of the Tax Act is incomplete, but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. Our accounting for certain elements of the Tax Act is incomplete. However, we were able to make reasonable estimates of the effects and, therefore, recorded provisional estimates for these items. In connection with our initial analysis of the impact of the Tax Act, we have recorded a provisional net tax expense of $42.0 million in the period ended February 3, 2018. This provisional estimate consists of a net expense of $10.2 million for the one-time transition tax resulting from the recognition of approximately $333.4 million of foreign earnings and profits, and a net expense of $31.8 million related to revaluation of deferred tax assets and liabilities, caused by the new lower corporate tax rate. To determine the transition tax, we must determine the amount of post-1986 accumulated earnings and profits of its relevant subsidiaries as of certain prescribed measurement dates, as well as the amount of non-U.S. income taxes paid on such earnings. While we were able to make a reasonable estimate of the transition tax based on the guidance issued as of the date of these financial statements, we are continuing to gather additional information, and expect additional guidance from the Treasury and IRS, to be able to more precisely compute the final amount. Likewise, while we were able to make a reasonable estimate of the impact of the reduction to the corporate tax rate, we may be affected by other analyses related to the Tax Act. These include, but are not limited to, the state tax effect of adjustments made to federal temporary differences. Due to the complexity of the new GILTI tax rules, we are continuing to evaluate this provision of the Tax Act and the application of ASC 740. Under GAAP, we are allowed to make an accounting policy choice to either: (1) treat taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred (the “period cost method”); or (2) factor in such amounts into our measurement of our deferred taxes (the “deferred method”). Our selection of an accounting policy with respect to the new GILTI tax rules is dependent on additional analysis and potential future modifications to our existing legal structure, which are not currently known. Accordingly, we have not made any adjustments related to potential GILTI tax in our financial statements and have not made a policy decision regarding whether to record deferred taxes on GILTI. We will continue to analyze the full effects of the Tax Act on the financial statements. The impact of the Tax Act may differ from the current estimate, possibly materially, due to changes in interpretations and assumptions we have made, future guidance that may be issued and actions we may take as a result of the law. 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. February 3, 2018 January 28, 2017 Deferred tax asset: Inventory obsolescence reserve $ 16.8 $ 26.7 Deferred rents 6.9 8.4 Stock-based compensation 9.2 12.0 Net operating losses 86.2 89.6 Customer liabilities 16.6 19.5 Property and equipment 13.6 3.4 Credits 9.5 10.7 Accrued compensation 12.9 23.8 Intangible assets 63.2 (47.9 ) Other 12.9 18.3 Total deferred tax assets 247.8 164.5 Valuation allowance (36.9 ) (39.4 ) Total deferred tax assets, net 210.9 125.1 Deferred tax liabilities: Goodwill (49.9 ) (75.5 ) Prepaid expenses (4.5 ) (5.3 ) Other (3.3 ) (8.3 ) Total deferred tax liabilities (57.7 ) (89.1 ) Net deferred tax assets $ 153.2 $ 36.0 The above amounts are reflected in the consolidated financial statements as: Deferred income taxes - assets $ 158.2 $ 59.0 Deferred income taxes - liabilities $ (5.0 ) $ (23.0 ) 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 2016. 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 February 3, 2018 , we have approximately $25.3 million of net operating loss ("NOL") carryforwards in various foreign jurisdictions that expire in years 2018 through 2035 , as well as $246.1 million of foreign NOL carryforwards that have no expiration date. In addition, the Company has approximately $0.9 million of foreign tax credit carryforwards that expire in years 2022 through 2026 . The Company also has approximately $74.2 million of Federal NOL carryovers acquired through the ThinkGeek acquisition that will expire in years 2020 through 2035 . As of February 3, 2018 , the gross amount of unrecognized tax benefits was approximately $24.9 million . If we were to prevail on all uncertain tax positions, the net effect would be a benefit to our effective tax rate of $18.8 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 2017 2016 2015 Beginning balance of unrecognized tax benefits $ 42.1 $ 31.9 $ 21.4 Increases related to current period tax positions 1.0 3.5 4.0 Increases related to prior period tax positions 11.2 7.9 9.0 Reductions as a result of a lapse of the applicable statute of limitations (1.3 ) (0.2 ) (1.0 ) Reductions as a result of settlements with taxing authorities (28.1 ) (1.0 ) (1.5 ) Ending balance of unrecognized tax benefits $ 24.9 $ 42.1 $ 31.9 We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense. As of February 3, 2018 , January 28, 2017 and January 30, 2016 , we had approximately $6.9 million , $7.2 million and $4.9 million , respectively, in interest and penalties related to unrecognized tax benefits accrued, of which approximately $0.3 million , $2.3 million and $0.4 million of expense were recognized through income tax expense in fiscal 2017 , 2016 and 2015 . 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 February 3, 2018 . Deferred income taxes have not been provided for on any undistributed and untaxed earnings generated by certain foreign subsidiaries as of February 3, 2018 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 to repatriate these funds, or we sell or liquidate any of these subsidiaries, we may be required to provide for certain 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. As noted above, taking into account the time line provided in SAB 118, we continue to analyze the full effects of the Tax Act on the financial statements and will provide updated disclosures as appropriate once the analysis is complete. |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Feb. 03, 2018 | |
Payables and Accruals [Abstract] | |
Accrued Liabilities | 8. Accrued Liabilities Accrued liabilities consisted of the following (in millions): February 3, 2018 January 28, 2017 Customer liabilities $ 302.4 $ 342.5 Deferred revenue 139.7 131.5 Employee benefits, compensation and related taxes 168.1 147.7 Checks and transfers yet to be presented for payment from zero balance cash accounts 176.4 268.4 Other taxes 63.4 52.0 Other accrued liabilities (1) 126.1 148.8 Total accrued liabilities $ 976.1 $ 1,090.9 (1) Includes acquisition-related contingent consideration of $12.2 million and $20.0 million as of February 3, 2018 and January 28, 2017, respectively. See Note 3, "Acquisitions and Divestitures" for additional information. |
Debt
Debt | 12 Months Ended |
Feb. 03, 2018 | |
Debt Disclosure [Abstract] | |
Debt | 9. Debt Senior Notes The carrying value of our long-term debt is comprised as follows (in millions): February 3, 2018 January 28, 2017 2019 Senior Notes principal amount $ 350.0 $ 350.0 2021 Senior Notes principal amount 475.0 475.0 Less: Unamortized debt financing costs (7.1 ) (10.0 ) Long-term debt, net $ 817.9 $ 815.0 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 are 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 On November 20, 2017, we entered into a second amendment to our asset-based revolving credit facility (the “Amended Revolver”). The Amended Revolver increased the borrowing base capacity to $420 million and extended the maturity date from March 2019 to November 2022. The Amended Revolver maintains the existing $200 million expansion feature and $50 million letter of credit sublimit, and allows for an incremental $ 50 million first-in, last-out facility. The applicable margins for prime rate loans were reduced from a range of 0.25% to 0.75% to a range of 0.25% to 0.50% and, for LIBO rate loans, reduced from a range of 1.25% to 1.75% to a range of 1.25% to 1.50% . Other terms and covenants under the Amended Revolver remain substantially unchanged. The Amended Revolver is secured by substantially all of our assets and the assets of our domestic subsidiaries. Borrowing availability under the Amended Revolver is limited to a borrowing base which allows us to borrow up to 90% of the appraisal value of the inventory, 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 period between July 15 and October 15 of each year. Letters of credit reduce the amount available to borrow under the Amended 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 Amended Revolver is less than 20% , or is projected to be within six months after such payment or 2) excess availability under the Amended Revolver is less than 15% , or is projected to be within six months after such payment, and the fixed charge coverage ratio, as calculated on a pro-forma basis for the prior 12 months, is 1.0 :1.0 or less. In the event that excess availability under the Amended 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 Amended 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 Amended Revolver is variable and is calculated by applying a margin (1) for prime rate loans of 0.25% to 0.50% above the highest of (a) the prime rate of the administrative agent, (b) the federal funds effective rate plus 0.50% and (c) the London Interbank Offered (“LIBO”) rate for a one month interest period as determined on such day plus 1.00% , and (2) for LIBO rate loans of 1.25% to 1.50% 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 Amended Revolver. As of February 3, 2018 , the applicable margin was 0.25% for prime rate loans and 1.25% for LIBO rate loans. The Amended 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 2017 , we cumulatively borrowed $373.0 million and repaid $373.0 million under our revolving credit facility. Average daily borrowings under the facility for fiscal 2017 were $19.1 million and our average interest rate on those borrowings was 2.96% . As of February 3, 2018 , total availability under the Amended Revolver was $412.6 million , with no outstanding borrowings and outstanding standby letters of credit of $7.4 million . We are currently in compliance with the financial requirements of the Amended Revolver. Luxembourg Line of Credit Our Luxembourg subsidiary maintains 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 February 3, 2018 , there were no cash overdrafts outstanding under the Line of Credit and bank guarantees outstanding totaled $9.8 million . |
Leases
Leases | 12 Months Ended |
Feb. 03, 2018 | |
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 2031 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 2017 2016 2015 Minimum $ 433.5 $ 437.4 $ 394.5 Percentage rentals 8.9 6.9 7.8 Total rent expense $ 442.4 $ 444.3 $ 402.3 Future minimum annual rentals, excluding percentage rentals, required under leases that had initial, noncancelable lease terms greater than one year, as of February 3, 2018 , are as follows (in millions): Fiscal Year Ending on or around January 31, 2019 $ 377.2 2020 253.7 2021 145.8 2022 75.4 2023 38.9 Thereafter 38.8 $ 929.8 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Feb. 03, 2018 | |
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 $25.5 million and $24.5 million as of February 3, 2018 and January 28, 2017 , respectively. See Note 10, "Leases," for information regarding commitments related to our noncancelable operating leases. 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 2015. We received tax reassessment notices 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, which has resulted in a tax collection notice received on January 16, 2018 in the amount of approximately €80.0 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 |
Feb. 03, 2018 | |
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. We did not repurchase shares during fiscal 2017. The following table summarizes our share repurchase activity during fiscal 2016 and 2015 (in millions, except average price paid per share): Fiscal Year 2016 2015 Total number of shares purchased 3.0 5.2 Average price per share $ 24.94 $ 38.68 Aggregate value of shares purchased $ 75.1 $ 202.0 As of February 3, 2018 , we have $170.2 million remaining under our latest authorization from November 2014. Dividends. We paid a total of $1.44 per share in dividends in fiscal 2015 and a total of $1.48 per share fiscal 2016 . In fiscal 2017 , we paid annual dividends of $1.52 per share of Class A Common Stock, totaling approximately $155.2 million . On February 20, 2018 , our Board of Directors declared a quarterly cash dividend of $0.38 per share of Class A Common Stock payable March 20, 2018. 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 incentive stock options, non-qualified stock options, stock appreciation rights, performance awards, restricted stock and other share-based awards. 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, 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. 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 expire 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 2017 and 2016 . A summary of our stock option activity during fiscal 2017 is presented below: Shares Weighted- Average Exercise Price Balance, January 28, 2017 1,327,353 $ 35.43 Exercised (6,300 ) $ 20.32 Expired (127,028 ) $ 37.56 Balance, February 3, 2018 1,194,025 $ 35.30 The following table summarizes information as of February 3, 2018 concerning outstanding and exercisable options: Options Outstanding & Exercisable Range of Exercise Prices Number Outstanding & Exercisable Weighted- Average Remaining Life (Years) Weighted- Average Exercise Price $20.32 - $38.52 844,075 4.65 $ 29.23 $49.95 349,950 0.01 $ 49.95 $20.32 - $49.95 1,194,025 3.29 $ 35.30 The total intrinsic value of options exercised during fiscal 2017 , 2016 and 2015 was $0.1 million , $0.1 million , and $6.7 million , respectively. There was no intrinsic value of both options exercisable and options outstanding, as of February 3, 2018 . 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 2017 , 2016 and 2015 , we included compensation expense relating to the grant of these options in the amount of $0.1 million , $0.9 million and $2.6 million , respectively, in selling, general and administrative expenses. As of February 3, 2018 , there was no unrecognized compensation expense related to our stock options. Restricted Stock Awards The fair value of restricted stock awards 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. We estimate the fair value of restricted stock awards on the grant date based on the quoted market price of our common stock. Time-based restricted stock awards generally vest in equal annual installments over a three -year period on the anniversary of the date of issuance, subject to continued service to the Company, and subject further to accelerated vesting in the case of retirement eligibility and certain termination events. Performance-based restricted stock awards generally vest as a lump sum on the third anniversary of the date of issuance. Restricted stock awards subject to performance measures may generally be earned in greater or lesser percentages if targets are exceeded or not achieved by specified amounts. The following table presents a summary of our restricted stock awards activity during fiscal 2017 : Time-Based Restricted Stock Awards Performance-Based Restricted Stock Awards Shares Weighted- Shares Weighted- Average Grant Date Fair Value Nonvested shares at January 28, 2017 811,838 $ 33.33 505,190 $ 35.87 Granted 596,412 $ 24.94 287,670 $ 25.28 Vested (466,030 ) $ 33.41 (60,474 ) $ 39.74 Forfeited (29,860 ) $ 28.73 (179,197 ) $ 39.30 Nonvested shares at February 3, 2018 912,360 $ 27.96 553,189 $ 28.83 In fiscal 2016 , we granted 602,414 shares of time-based restricted stock with a weighted-average grant date fair value of $30.18 . We also granted 206,580 shares of performance-based restricted stock with a weighted-average grant fair value of $30.54 . During fiscal 2017 , 2016 and 2015 , we included compensation expense relating to the grants of restricted shares in the amounts of $25.5 million , $16.9 million and $27.3 million , respectively, in selling, general and administrative expenses in the accompanying consolidated statements of operations. The fiscal 2017 and 2016 compensation expense associated with the restricted shares is net of adjustments totaling $2.9 million and $5.9 million , respectively, relating to performance measures that were not fully met. As of February 3, 2018 , there was $16.3 million of unrecognized compensation expense related to nonvested restricted shares that is expected to be recognized over a weighted-average period of 1.6 years. The total fair value of restricted stock awards vested, as of their respective vesting dates, was $12.5 million , $27.6 million , and $34.1 million during fiscal 2017 , 2016 and 2015 . |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Feb. 03, 2018 | |
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 2017 2016 2015 Net income $ 34.7 $ 353.2 $ 402.8 Weighted-average common shares outstanding 101.4 103.4 106.0 Dilutive effect of stock options and restricted stock awards 0.1 0.4 0.7 Weighted-average diluted common shares 101.5 103.8 106.7 Basic earnings per share $ 0.34 $ 3.42 $ 3.80 Diluted earnings per share $ 0.34 $ 3.40 $ 3.78 Anti-dilutive stock options and restricted stock awards 2.0 1.4 1.0 |
Employees' Defined Contribution
Employees' Defined Contribution Plan | 12 Months Ended |
Feb. 03, 2018 | |
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% , subject to IRS limitations, 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 2017 , 2016 and 2015 , were $8.4 million , $7.8 million and $6.3 million , respectively. |
Significant Products
Significant Products | 12 Months Ended |
Feb. 03, 2018 | |
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). Fiscal Year 2017 2016 2015 Net Sales Percent of Net Sales Net Sales Percent of Net Sales Net Sales Percent of Net Sales New video game hardware (1) $ 1,791.8 19.4 % $ 1,396.7 16.2 % $ 1,944.7 20.8 % New video game software 2,582.0 28.0 2,493.4 29.0 2,905.1 31.0 Pre-owned and value video game products 2,149.6 23.3 2,254.1 26.2 2,374.7 25.4 Video game accessories 784.3 8.5 676.7 7.9 703.0 7.5 Digital 189.2 2.1 181.0 2.1 188.3 2.0 Technology Brands (2) 803.6 8.7 814.0 9.5 534.0 5.7 Collectibles 636.2 6.9 494.1 5.7 309.7 3.3 Other (3) 287.9 3.1 297.9 3.4 404.3 4.3 Total $ 9,224.6 100.0 % $ 8,607.9 100.0 % $ 9,363.8 100.0 % Fiscal Year 2017 2016 2015 Gross Profit Gross Profit Percent Gross Profit Gross Profit Percent Gross Profit Gross Profit Percent New video game hardware (1) $ 163.1 9.1 % $ 154.2 11.0 % $ 175.5 9.0 % New video game software 590.3 22.9 600.4 24.1 689.3 23.7 Pre-owned and value video game products 977.1 45.5 1,044.1 46.3 1,114.5 46.9 Video game accessories 255.0 32.5 235.2 34.8 255.5 36.3 Digital 162.4 85.8 155.5 85.9 149.6 79.4 Technology Brands (2) 594.0 73.9 554.6 68.1 306.6 57.4 Collectibles 208.2 32.7 171.6 34.7 116.6 37.6 Other (3) 90.0 31.3 93.7 31.5 110.7 27.4 Total $ 3,040.1 33.0 % $ 3,009.3 35.0 % $ 2,918.3 31.2 % ___________________ (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 stores, Simply Mac stores and Cricket Wireless branded stores, which were sold in January 2018. (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 |
Feb. 03, 2018 | |
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. 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 hardware, 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, a web and mobile gaming platform which we sold in July 2017 (see Note 3, "Acquisition and Divestitures"). 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 and e-commerce operations in 10 European countries. Our Technology Brands segment includes our Spring Mobile managed AT&T and Cricket Wireless branded stores and Simply Mac stores, all of which operate in the United States. Cricket Wireless was sold in January 2018. 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 2017 , 2016 and 2015 . Information on segments and the reconciliation of segment profit (loss) to earnings before income taxes are as follows (in millions): As of and for the Fiscal Year Ended February 3, 2018 United States Canada Australia Europe Technology Brands Consolidated Net sales $ 5,749.9 $ 434.9 $ 702.2 $ 1,534.0 $ 803.6 $ 9,224.6 Operating earnings (loss) $ 344.9 $ 18.5 $ 34.9 $ 53.0 $ (315.7 ) $ 135.6 Interest income 1.5 Interest expense (56.8 ) Earnings before income taxes $ 80.3 Other Information: Goodwill $ 1,159.5 $ 30.3 $ 73.6 $ 87.1 $ 316.8 $ 1,667.3 Other long-lived assets 280.8 24.5 60.4 253.0 216.9 835.6 Total assets 920.5 187.3 457.5 2,743.4 732.9 5,041.6 Income tax expense (benefit) 123.2 3.2 5.3 5.3 (91.4 ) 45.6 Depreciation and amortization 79.5 3.9 10.4 26.4 30.5 150.7 Capital expenditures 60.6 4.3 10.1 15.3 23.1 113.4 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 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 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 |
Unaudited Quarterly Financial I
Unaudited Quarterly Financial Information | 12 Months Ended |
Feb. 03, 2018 | |
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 February 3, 2018 and January 28, 2017 (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 2017 Fiscal Year 2016 1st Quarter 2nd Quarter 3rd Quarter 4th (1) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter (1) Net sales $ 2,045.9 $ 1,687.6 $ 1,988.6 $ 3,502.5 $ 1,971.5 $ 1,631.8 $ 1,959.2 $ 3,045.4 Gross profit 702.5 623.7 689.4 1,024.5 675.5 617.7 708.2 1,007.9 Operating earnings (loss) 101.1 43.6 87.6 (96.7 ) 114.0 58.3 98.8 286.6 Net income (loss) 59.0 22.2 59.4 (105.9 ) 65.8 27.9 50.8 208.7 Earnings (loss) per share: Basic (2) $ 0.58 $ 0.22 $ 0.59 $ (1.04 ) $ 0.63 $ 0.27 $ 0.49 $ 2.04 Diluted (2) $ 0.58 $ 0.22 $ 0.59 $ (1.04 ) $ 0.63 $ 0.27 $ 0.49 $ 2.04 Dividend declared per common share $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.37 $ 0.37 $ 0.37 $ 0.37 ___________________ The following footnotes are discussed as pretax expenses. (1) The results of operations for the fourth quarter of fiscal 2017 include asset impairment charges totaling $390.8 million . The results of operations for the fourth quarter of fiscal 2016 include asset impairment charges totaling $33.8 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 |
Feb. 03, 2018 | |
Accounting Policies [Abstract] | |
Nature of Operations [Text Block] | The Company GameStop Corp. (“GameStop,” “we,” “us,” “our,” or the “Company”) is a global family of specialty retail brands that makes the most popular technologies affordable and simple. Within our family of brands, we are the world’s largest omnichannel video game retailer, the largest AT&T® (“AT&T”) authorized retailer, the largest Apple© (“Apple”) certified products reseller, and the owner of www.thinkgeek.com, one of the world’s largest sellers of collectible pop-culture themed products. As of February 3, 2018 , GameStop's retail network and family of brands include 7,276 company-operated stores in the United States, Canada, Australia and Europe. 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. |
Concentration Risk Disclosure [Text Block] | Our largest vendors in our Video Game Brands segments are Nintendo, Sony, Microsoft, Activision Blizzard and Electronic Arts, which accounted for 22% , 20% , 10% , 6% and 6% , respectively, of our new product purchases in fiscal year 2017; 10% , 24% , 14% , 6% and 7% , respectively, in fiscal year 2016 ; and 11% , 27% , 19% , 9% and 10% , respectively, in fiscal year 2015 . |
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. Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2017 consisted of the 53 weeks ended on February 3, 2018 ("fiscal 2017 "). 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 "). |
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 $14.9 million and $10.2 million as of February 3, 2018 and January 28, 2017 , 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 February 3, 2018 and January 28, 2017 were $59.2 million and $59.0 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 two 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 $138.4 million , $151.7 million and $144.9 million for fiscal 2017 , 2016 and 2015 , 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 $18.2 million , $19.4 million and $4.4 million in fiscal 2017 , 2016 and 2015 , respectively. See Note 2, "Asset Impairments," for further information regarding our asset impairment charges. |
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. |
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, Canada, Australia 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. In order to test goodwill for impairment, we compare a reporting unit's carrying amount to its estimated fair value. If the reporting unit’s carrying value exceeds its estimated fair value, then an impairment charge is recorded in the amount of the excess. The estimated fair value of a reporting unit is determined based on its discounted cash flows, which are derived from our long-term financial forecasts. The discounted cash flows analysis requires significant assumptions including, among others, a discount rate and a terminal value. Goodwill impairment charges of $32.8 million were recognized in fiscal 2017 . See Note 6, "Goodwill and Intangible Assets" for additional information. No goodwill impairment charges were recognized in fiscal 2016 and 2015 . |
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 2017 and fiscal 2016 annual impairment testing, we recognized impairment charges totaling $339.8 million and $14.4 million , respectively, associated with our dealer agreements and trade names. 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. 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 | 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 ("FASB") issued a comprehensive update to current revenue accounting standards; see "—Recent Accounting Pronouncements" for additional information. |
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. |
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 $162.5 million , $184.3 million and $208.2 million were recorded as a reduction of cost of sales for fiscal 2017 , 2016 and 2015 , 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. |
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. |
Advertising Expenses | Advertising Expenses We expense advertising costs for television, newspapers and other media when the advertising takes place. Advertising expenses for fiscal 2017 , 2016 and 2015 totaled $83.3 million , $76.6 million and $66.6 million , respectively. |
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 2031 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 from foreign currency transactions and derivatives are included in selling, general and administrative expenses and were $2.4 million , $4.5 million and $1.6 million in fiscal 2017 , 2016 and 2015 , 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 August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The new guidance is intended to more closely align hedge accounting with entities’ hedging strategies, simplify the application of hedge accounting and increase the transparency of hedging programs. The new guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We do not anticipate that adoption of this standard 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 May 2014, the FASB issued ASU 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 requires additional disclosures on the nature, timing, and uncertainty of revenue and related cash flows. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date , which delayed the effective date of ASU 2014-09 by one year to December 15, 2017 (with early adoption permitted). In 2016, the FASB issued several ASUs that further amended the new revenue standard in the areas of principal versus agent evaluation, licenses of intellectual property, identifying performance obligations, and other clarifications and technical corrections. Entities may use either a full retrospective or modified retrospective transition approach in applying these ASUs. The new revenue standard will primarily impact the accounting of our PowerUp Rewards loyalty program and the recognition of breakage associated with our gift cards liability. For our loyalty program, we currently estimate the net cost of the rewards that will be issued and redeemed and record this cost (presented as cost of sales) and the associated balance sheet liability as points are accumulated by our loyalty program members. Under the new standard, the transaction price will be allocated between the product(s) sold and loyalty points earned, where the portion allocated to the loyalty points will be initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration of the loyalty points. Estimated breakage on unused gift cards and merchandise credit liabilities is currently recognized on a quarterly basis (recorded to cost of sales) for balances older than two years to the extent that we believe the likelihood of redemption is remote. Under the new standard, we will recognize breakage in revenue based on and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. We will adopt the new standard in the first quarter of fiscal 2018, using the modified-retrospective transition approach. Under this approach, we will apply the new revenue standard on a prospective basis, effective February 4, 2018, and record adjustments to our fiscal 2018 opening balance sheet (as of February 4, 2018) to reflect the cumulative effect of the new revenue standard. We will also provide quantitative and qualitative disclosures of the new standard’s impact to each of our financial statement line items during fiscal 2018. The cumulative-effect adjustment will include a reduction of our gift card and customer deposit liabilities of approximately $46 million , an increase to our loyalty program liabilities of approximately $28 million and a net increase to our retained earnings of approximately $18 million (approximately $12 million , net of tax). In addition, the adoption of the new standard will result in expanded revenue recognition disclosures. We do not expect the adoption of the new revenue standard to have a material impact to our consolidated statements of operations or statements of cash flows. 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. |
Summary of Significant Accoun27
Summary of Significant Accounting Policies Adoption of New Accounting Pronouncement (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
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 January 2017, the FASB issued Accounting Standard Update ("ASU") 2017-04, Intangibles—Goodwill and Other, Simplifying the Test for Goodwill Impairment , which 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. We early adopted this updated standard, effective January 29, 2017. In October 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory , which eliminates the exception to defer the tax effects of intra-entity asset transfers (intercompany sales). Prior to this update, the tax effects of intra-entity asset transfers were deferred until the transferred asset was sold to a third party or otherwise recovered through use, which was an exception to the general requirement for comprehensive recognition of current and deferred income taxes. We early adopted this updated standard, effective January 29, 2017, and as a result we recognize tax expense or benefit from intercompany sales of assets other than inventory in the period in which the transaction occurs. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies several aspects of accounting for employee share-based payment transactions. The amendments of the updated standard include, among other things, the requirement to recognize excess tax benefits and deficiencies through earnings and present the related cash flows in operating activities in the statement of cash flows, the election of a policy to either estimate forfeitures when determining periodic expense or recognize actual forfeitures when they occur, and an increase in the allowable income tax withholding from the minimum to maximum statutory rate and its classification in the statement of cash flows. As a result of the adoption of this updated standard, effective January 29, 2017, excess tax benefits and deficiencies are recognized in our results of operations and are presented in cash flows from operating activities in our statement of cash flows on a prospective basis. In addition, we elected to recognize actual forfeitures of stock-based awards as they occur. The adoption of this updated standard did not result in a material impact to our consolidated financial statements. |
Asset Impairments (Tables)
Asset Impairments (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Text Block [Abstract] | |
Schedule Of Asset Impairment | A summary of our asset impairment charges, by reportable segment, for fiscal 2017 , 2016 and 2015 is as follows (in millions): United States Canada Australia Europe Technology Brands Total Fiscal 2017 Intangible asset impairment charges $ — $ — $ — $ — $ 339.8 $ 339.8 Store and other asset impairment charges 1.2 — 0.3 1.2 15.5 18.2 Total $ 1.2 $ — $ 0.3 $ 1.2 $ 355.3 $ 358.0 Fiscal 2016 Intangible asset impairment charges $ — $ — $ — $ 7.4 $ 7.0 $ 14.4 Store and other asset impairment charges 0.3 0.2 — 2.3 16.6 19.4 Total $ 0.3 $ 0.2 $ — $ 9.7 $ 23.6 $ 33.8 Fiscal 2015 Intangible asset impairment charges $ — $ — $ — $ 0.2 $ — $ 0.2 Store and other asset impairment charges 2.8 — — 0.6 1.0 4.4 Total $ 2.8 $ — $ — $ 0.8 $ 1.0 $ 4.6 |
Acquisitions and Divestitures (
Acquisitions and Divestitures (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
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 |
Feb. 03, 2018 | |
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): February 3, 2018 January 28, 2017 Level 2 Level 3 Level 2 Level 3 Assets: Foreign currency contracts Other current assets $ 2.4 $ — $ 13.3 $ — Other noncurrent assets — — 0.1 — Company-owned life insurance (1) 13.9 — 12.4 — Total assets $ 16.3 $ — $ 25.8 $ — Liabilities: Foreign currency contracts Accrued liabilities $ 9.9 $ — $ 4.3 $ — Other long-term liabilities — — 0.1 — Nonqualified deferred compensation (2) 1.2 — 1.0 — Contingent consideration (3) — 12.2 — 43.2 Total liabilities $ 11.1 $ 12.2 $ 5.4 $ 43.2 ___________________ (1) Recognized in other non-current assets in our consolidated balance sheets. (2) Recognized in accrued liabilities in our consolidated balance sheets. (3) As of February 3, 2018, $12.2 million was included in accrued liabilities in our consolidated balance sheets. As of January 28, 2017, the current portion of $20.0 million was recognized in accrued liabilities and the noncurrent portion of $23.2 million was recognized in other long-term liabilities in our consolidated balance sheet. |
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 2017 2016 2015 (Losses) gains on the changes in fair value of derivative instruments $ (24.6 ) $ 20.0 $ (5.2 ) Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities 27.0 (15.5 ) 6.8 Total $ 2.4 $ 4.5 $ 1.6 |
Receivables, Net (Tables)
Receivables, Net (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Receivables [Abstract] | |
Receivables | Receivables consisted of the following (in millions): February 3, 2018 January 28, 2017 Bankcard receivables $ 51.2 $ 39.5 Vendor receivables (1) 96.8 143.3 Technology Brands carrier receivables 42.3 41.0 Other receivables 1.8 2.8 Allowance for doubtful accounts (9.4 ) (5.7 ) Total receivables, net $ 182.7 $ 220.9 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
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 2016 and 2017 were as follows (in millions): United States Canada Australia Europe Technology Brands Total 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 Divestitures (Note 3) (40.2 ) — — — (2.4 ) (42.6 ) Foreign currency translation adjustment — 1.7 3.5 12.3 — 17.5 Impairment charge — — — — (32.8 ) (32.8 ) Balance at February 3, 2018 $ 1,159.5 $ 30.3 $ 73.6 $ 87.1 $ 316.8 $ 1,667.3 |
Schedule of Intangible Assets Other Than Goodwill | The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of February 3, 2018 and January 28, 2017 were as follows (in millions): February 3, 2018 January 28, 2017 Gross Carrying Amount (1) Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets with indefinite lives: Trade names $ 49.3 $ — $ 49.3 $ 43.7 $ — $ 43.7 Dealer agreements 77.0 — 77.0 409.3 — 409.3 Intangible assets with finite lives: Leasehold rights 100.4 (67.0 ) 33.4 86.4 (51.4 ) 35.0 Customer relationships 14.5 (6.8 ) 7.7 14.5 (4.1 ) 10.4 Other 33.5 (31.4 ) 2.1 39.5 (30.7 ) 8.8 Total $ 274.7 $ (105.2 ) $ 169.5 $ 593.4 $ (86.2 ) $ 507.2 ___________________ (1) The change in the gross carrying amount of intangible assets from January 28, 2017 to February 3, 2018 is due to impairments (see Note 2, "Asset Impairments") 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 2019 $ 11.4 2020 8.7 2021 6.4 2022 4.5 2023 3.7 $ 34.7 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Tax | The provision for income taxes consisted of the following (in millions): Fiscal Year 2017 2016 2015 Current tax expense: Federal $ 110.1 $ 143.8 $ 178.7 State 14.9 13.5 16.3 Foreign 28.5 29.2 28.9 153.5 186.5 223.9 Deferred tax expense (benefit): Federal (78.5 ) (1.2 ) 0.2 State (13.4 ) (0.2 ) 3.6 Foreign (16.0 ) (33.6 ) (5.3 ) (107.9 ) (35.0 ) (1.5 ) Total income tax expense $ 45.6 $ 151.5 $ 222.4 |
Components of Earnings Before Income Tax expense | The components of earnings before income tax expense consisted of the following (in millions): Fiscal Year 2017 2016 2015 United States $ 7.1 $ 446.8 $ 553.5 International 73.2 57.9 71.7 Total $ 80.3 $ 504.7 $ 625.2 |
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. Certain prior year rates have been reclassified to conform with current year presentation: Fiscal Year 2017 2016 2015 Federal statutory tax rate (1) 33.7 % 35.0 % 35.0 % State income taxes, net of federal effect (0.8 ) 1.7 2.1 Foreign income tax rate differential (5.1 ) (0.9 ) (1.0 ) Change in valuation allowance (5.1 ) 4.1 (0.9 ) Subpart F income 1.5 1.3 0.9 Change in unrecognized tax benefits (7.1 ) 2.3 0.9 Interest income from hybrid securities (4.0 ) (0.6 ) (1.6 ) Transition tax 12.7 — — Tax reform 39.6 — — Realization of losses in foreign operations not previously benefited (2) — (8.3 ) — Loss on investment in foreign subsidiary — (3.2 ) — Intercompany sale of intangible assets (16.4 ) — — Foreign tax credit (11.7 ) (0.1 ) (0.1 ) Withholding tax expense 11.2 0.2 0.2 Impairment of goodwill 8.5 — — Stock compensation 3.1 — — Divestitures (2.7 ) — — Domestic production activities deduction (1.7 ) (0.3 ) (0.5 ) Nondeductible interest 2.3 0.5 0.4 Unrealized (gains) losses on foreign currency exchange (1.9 ) (0.1 ) — Other (including permanent differences) (3) 0.7 (1.6 ) 0.2 56.8 % 30.0 % 35.6 % ___________________ (1) Per IRC Section 15, we have incorporated a blended rate of 33.7% for our year end current provision ending February 3, 2018. (2) 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.” (3) Other is comprised of numerous items, none of which is greater than 1.69% of earnings before income taxes. |
Components of Deferred Tax Assets and Liabilities | (1) Per IRC Section 15, we have incorporated a blended rate of 33.7% for our year end current provision ending February 3, 2018. (2) 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.” (3) Other is comprised of numerous items, none of which is greater than 1.69% of earnings before income taxes. On December 22, 2017, H.R. 1, formerly known as the Tax Cuts and Jobs Act of 2017 (the “Tax Act”), was signed into law. The Tax Act makes broad and complex changes to the Internal Revenue Code, including, but not limited to: (i) reducing the future U.S. federal corporate tax rate from 35 percent to 21 percent; (ii) requiring companies to pay a one-time transition tax on certain unremitted earnings of foreign subsidiaries; and (iii) providing for bonus depreciation that will allow full expensing of certain qualified property. The Tax Act also established new tax laws that will come into effect beginning in 2018, including, but not limited to: (i) the reduction of the U.S. federal corporate tax rate discussed above; (ii) a general elimination of U.S. federal income taxes on dividends from certain foreign subsidiaries; (iii) a new provision designed to tax global intangible low-taxed income (“GILTI”); (iv) the repeal of the domestic production activity deductions; (v) limitations on the deductibility of certain executive compensation; (vi) limitations on the use of certain foreign tax credits to reduce the U.S. income tax liability; and (vii) a new provision that allows a domestic corporation an immediate deduction for a portion of its foreign derived intangible income (“FDII”). Further, the Securities and Exchange Commission staff issued Staff Accounting Bulletin (“SAB”) 118, which provides guidance on accounting for the immediate tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the related accounting under ASC 740, Accounting for Income Taxes. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for a certain income tax effect of the Tax Act is incomplete, but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. Our accounting for certain elements of the Tax Act is incomplete. However, we were able to make reasonable estimates of the effects and, therefore, recorded provisional estimates for these items. In connection with our initial analysis of the impact of the Tax Act, we have recorded a provisional net tax expense of $42.0 million in the period ended February 3, 2018. This provisional estimate consists of a net expense of $10.2 million for the one-time transition tax resulting from the recognition of approximately $333.4 million of foreign earnings and profits, and a net expense of $31.8 million related to revaluation of deferred tax assets and liabilities, caused by the new lower corporate tax rate. To determine the transition tax, we must determine the amount of post-1986 accumulated earnings and profits of its relevant subsidiaries as of certain prescribed measurement dates, as well as the amount of non-U.S. income taxes paid on such earnings. While we were able to make a reasonable estimate of the transition tax based on the guidance issued as of the date of these financial statements, we are continuing to gather additional information, and expect additional guidance from the Treasury and IRS, to be able to more precisely compute the final amount. Likewise, while we were able to make a reasonable estimate of the impact of the reduction to the corporate tax rate, we may be affected by other analyses related to the Tax Act. These include, but are not limited to, the state tax effect of adjustments made to federal temporary differences. Due to the complexity of the new GILTI tax rules, we are continuing to evaluate this provision of the Tax Act and the application of ASC 740. Under GAAP, we are allowed to make an accounting policy choice to either: (1) treat taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred (the “period cost method”); or (2) factor in such amounts into our measurement of our deferred taxes (the “deferred method”). Our selection of an accounting policy with respect to the new GILTI tax rules is dependent on additional analysis and potential future modifications to our existing legal structure, which are not currently known. Accordingly, we have not made any adjustments related to potential GILTI tax in our financial statements and have not made a policy decision regarding whether to record deferred taxes on GILTI. We will continue to analyze the full effects of the Tax Act on the financial statements. The impact of the Tax Act may differ from the current estimate, possibly materially, due to changes in interpretations and assumptions we have made, future guidance that may be issued and actions we may take as a result of the law. 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 2017 2016 2015 Beginning balance of unrecognized tax benefits $ 42.1 $ 31.9 $ 21.4 Increases related to current period tax positions 1.0 3.5 4.0 Increases related to prior period tax positions 11.2 7.9 9.0 Reductions as a result of a lapse of the applicable statute of limitations (1.3 ) (0.2 ) (1.0 ) Reductions as a result of settlements with taxing authorities (28.1 ) (1.0 ) (1.5 ) Ending balance of unrecognized tax benefits $ 24.9 $ 42.1 $ 31.9 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Payables and Accruals [Abstract] | |
Accrued Liabilities | Accrued liabilities consisted of the following (in millions): February 3, 2018 January 28, 2017 Customer liabilities $ 302.4 $ 342.5 Deferred revenue 139.7 131.5 Employee benefits, compensation and related taxes 168.1 147.7 Checks and transfers yet to be presented for payment from zero balance cash accounts 176.4 268.4 Other taxes 63.4 52.0 Other accrued liabilities (1) 126.1 148.8 Total accrued liabilities $ 976.1 $ 1,090.9 (1) Includes acquisition-related contingent consideration of $12.2 million and $20.0 million as of February 3, 2018 and January 28, 2017, respectively. See Note 3, "Acquisitions and Divestitures" for additional information. |
Debt Debt (Tables)
Debt Debt (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | The carrying value of our long-term debt is comprised as follows (in millions): February 3, 2018 January 28, 2017 2019 Senior Notes principal amount $ 350.0 $ 350.0 2021 Senior Notes principal amount 475.0 475.0 Less: Unamortized debt financing costs (7.1 ) (10.0 ) Long-term debt, net $ 817.9 $ 815.0 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Leases [Abstract] | |
Approximate Rental Expenses Under Operating Leases | ent expense under operating leases was as follows (in millions): Fiscal Year 2017 2016 2015 Minimum $ 433.5 $ 437.4 $ 394.5 Percentage rentals 8.9 6.9 7.8 Total rent expense $ 442.4 $ 444.3 $ 402.3 |
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 February 3, 2018 , are as follows (in millions): Fiscal Year Ending on or around January 31, 2019 $ 377.2 2020 253.7 2021 145.8 2022 75.4 2023 38.9 Thereafter 38.8 $ 929.8 |
Common Stock and Share-Based 37
Common Stock and Share-Based Compensation (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
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 2017 and 2016 . |
Summary of Status of Company's Stock Options | A summary of our stock option activity during fiscal 2017 is presented below: Shares Weighted- Average Exercise Price Balance, January 28, 2017 1,327,353 $ 35.43 Exercised (6,300 ) $ 20.32 Expired (127,028 ) $ 37.56 Balance, February 3, 2018 1,194,025 $ 35.30 |
Summary of Outstanding and Exercisable Options | The following table summarizes information as of February 3, 2018 concerning outstanding and exercisable options: Options Outstanding & Exercisable Range of Exercise Prices Number Outstanding & Exercisable Weighted- Average Remaining Life (Years) Weighted- Average Exercise Price $20.32 - $38.52 844,075 4.65 $ 29.23 $49.95 349,950 0.01 $ 49.95 $20.32 - $49.95 1,194,025 3.29 $ 35.30 |
Summary of Company's Restricted Stock Awards Activity | The following table presents a summary of our restricted stock awards activity during fiscal 2017 : Time-Based Restricted Stock Awards Performance-Based Restricted Stock Awards Shares Weighted- Shares Weighted- Average Grant Date Fair Value Nonvested shares at January 28, 2017 811,838 $ 33.33 505,190 $ 35.87 Granted 596,412 $ 24.94 287,670 $ 25.28 Vested (466,030 ) $ 33.41 (60,474 ) $ 39.74 Forfeited (29,860 ) $ 28.73 (179,197 ) $ 39.30 Nonvested shares at February 3, 2018 912,360 $ 27.96 553,189 $ 28.83 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
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 2017 2016 2015 Net income $ 34.7 $ 353.2 $ 402.8 Weighted-average common shares outstanding 101.4 103.4 106.0 Dilutive effect of stock options and restricted stock awards 0.1 0.4 0.7 Weighted-average diluted common shares 101.5 103.8 106.7 Basic earnings per share $ 0.34 $ 3.42 $ 3.80 Diluted earnings per share $ 0.34 $ 3.40 $ 3.78 Anti-dilutive stock options and restricted stock awards 2.0 1.4 1.0 |
Significant Products (Tables)
Significant Products (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Significant Products [Abstract] | |
Sales by Significant Product Category | Fiscal Year 2017 2016 2015 Net Sales Percent of Net Sales Net Sales Percent of Net Sales Net Sales Percent of Net Sales New video game hardware (1) $ 1,791.8 19.4 % $ 1,396.7 16.2 % $ 1,944.7 20.8 % New video game software 2,582.0 28.0 2,493.4 29.0 2,905.1 31.0 Pre-owned and value video game products 2,149.6 23.3 2,254.1 26.2 2,374.7 25.4 Video game accessories 784.3 8.5 676.7 7.9 703.0 7.5 Digital 189.2 2.1 181.0 2.1 188.3 2.0 Technology Brands (2) 803.6 8.7 814.0 9.5 534.0 5.7 Collectibles 636.2 6.9 494.1 5.7 309.7 3.3 Other (3) 287.9 3.1 297.9 3.4 404.3 4.3 Total $ 9,224.6 100.0 % $ 8,607.9 100.0 % $ 9,363.8 100.0 % |
Gross Profit and Gross Profit Percentages by Significant Product Category | Fiscal Year 2017 2016 2015 Gross Profit Gross Profit Percent Gross Profit Gross Profit Percent Gross Profit Gross Profit Percent New video game hardware (1) $ 163.1 9.1 % $ 154.2 11.0 % $ 175.5 9.0 % New video game software 590.3 22.9 600.4 24.1 689.3 23.7 Pre-owned and value video game products 977.1 45.5 1,044.1 46.3 1,114.5 46.9 Video game accessories 255.0 32.5 235.2 34.8 255.5 36.3 Digital 162.4 85.8 155.5 85.9 149.6 79.4 Technology Brands (2) 594.0 73.9 554.6 68.1 306.6 57.4 Collectibles 208.2 32.7 171.6 34.7 116.6 37.6 Other (3) 90.0 31.3 93.7 31.5 110.7 27.4 Total $ 3,040.1 33.0 % $ 3,009.3 35.0 % $ 2,918.3 31.2 % |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Segment Reporting [Abstract] | |
Information on Segments and Reconciliation to Earnings Before Income Taxes | Information on segments and the reconciliation of segment profit (loss) to earnings before income taxes are as follows (in millions): As of and for the Fiscal Year Ended February 3, 2018 United States Canada Australia Europe Technology Brands Consolidated Net sales $ 5,749.9 $ 434.9 $ 702.2 $ 1,534.0 $ 803.6 $ 9,224.6 Operating earnings (loss) $ 344.9 $ 18.5 $ 34.9 $ 53.0 $ (315.7 ) $ 135.6 Interest income 1.5 Interest expense (56.8 ) Earnings before income taxes $ 80.3 Other Information: Goodwill $ 1,159.5 $ 30.3 $ 73.6 $ 87.1 $ 316.8 $ 1,667.3 Other long-lived assets 280.8 24.5 60.4 253.0 216.9 835.6 Total assets 920.5 187.3 457.5 2,743.4 732.9 5,041.6 Income tax expense (benefit) 123.2 3.2 5.3 5.3 (91.4 ) 45.6 Depreciation and amortization 79.5 3.9 10.4 26.4 30.5 150.7 Capital expenditures 60.6 4.3 10.1 15.3 23.1 113.4 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 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 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 |
Unaudited Quarterly Financial41
Unaudited Quarterly Financial Information (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
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 February 3, 2018 and January 28, 2017 (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 2017 Fiscal Year 2016 1st Quarter 2nd Quarter 3rd Quarter 4th (1) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter (1) Net sales $ 2,045.9 $ 1,687.6 $ 1,988.6 $ 3,502.5 $ 1,971.5 $ 1,631.8 $ 1,959.2 $ 3,045.4 Gross profit 702.5 623.7 689.4 1,024.5 675.5 617.7 708.2 1,007.9 Operating earnings (loss) 101.1 43.6 87.6 (96.7 ) 114.0 58.3 98.8 286.6 Net income (loss) 59.0 22.2 59.4 (105.9 ) 65.8 27.9 50.8 208.7 Earnings (loss) per share: Basic (2) $ 0.58 $ 0.22 $ 0.59 $ (1.04 ) $ 0.63 $ 0.27 $ 0.49 $ 2.04 Diluted (2) $ 0.58 $ 0.22 $ 0.59 $ (1.04 ) $ 0.63 $ 0.27 $ 0.49 $ 2.04 Dividend declared per common share $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.37 $ 0.37 $ 0.37 $ 0.37 ___________________ The following footnotes are discussed as pretax expenses. (1) The results of operations for the fourth quarter of fiscal 2017 include asset impairment charges totaling $390.8 million . The results of operations for the fourth quarter of fiscal 2016 include asset impairment charges totaling $33.8 million . (2) The sum of the quarters may not necessarily be equal to the full year net income per common share amount. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Cash paid during the period for: | |||
Interest | $ 14 | $ 23.3 | $ 21.8 |
Acquisitions: | |||
Payments to Acquire Businesses, Net of Cash Acquired | $ 8.5 | $ 441.2 | $ 267.5 |
Summary of Significant Accoun43
Summary of Significant Accounting Policies - Narrative (Detail) | 12 Months Ended | |||
Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Feb. 04, 2018USD ($) | |
Significant Accounting Policies [Line Items] | ||||
Cost Of Sales Vendor Allowances | $ 162,500,000 | $ 184,300,000 | $ 208,200,000 | |
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. | |||
Number of Stores | 7,276 | |||
Restricted Cash and Cash Equivalents | $ 14,900,000 | 10,200,000 | ||
Inventory reserves | 59,200,000 | 59,000,000 | ||
Depreciation | 138,400,000 | 151,700,000 | 144,900,000 | |
Goodwill impairments | 32,800,000 | 0 | 0 | |
Impairment of intangible assets | 339,800,000 | 14,400,000 | 0 | |
Advertising expenses | 83,300,000 | 76,600,000 | 66,600,000 | |
Selling, General and Administrative Expenses | ||||
Significant Accounting Policies [Line Items] | ||||
Transaction gains and (losses) | $ 2,400,000 | 4,500,000 | 1,600,000 | |
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 | 2 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 | |||
Technology Brands | ||||
Significant Accounting Policies [Line Items] | ||||
Goodwill impairments | $ 32,800,000 | |||
Impairment of Long-Lived Assets Held-for-use | 15,500,000 | 16,600,000 | 1,000,000 | |
Fair Value, Measurements, Nonrecurring | ||||
Significant Accounting Policies [Line Items] | ||||
Impairment of Long-Lived Assets Held-for-use | $ 18,200,000 | $ 19,400,000 | $ 4,400,000 | |
Accounting Standards Update 2014-09 [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
ASU2014-09GiftCardLiabilityAdjustment | $ 46,000,000 | |||
ASU2014-09LoyaltyLiabilityAdjustment | 28,000,000 | |||
ASU2014-09RetainedEarningsGrossAdjustment | 18,000,000 | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 12,000,000 | |||
Sony Computer Entertainment | ||||
Significant Accounting Policies [Line Items] | ||||
New product purchases, concentration percentage | 20.00% | 24.00% | 27.00% | |
Microsoft | ||||
Significant Accounting Policies [Line Items] | ||||
New product purchases, concentration percentage | 10.00% | 14.00% | 19.00% | |
Nintendo | ||||
Significant Accounting Policies [Line Items] | ||||
New product purchases, concentration percentage | 22.00% | 10.00% | 11.00% | |
Electronic Arts | ||||
Significant Accounting Policies [Line Items] | ||||
New product purchases, concentration percentage | 6.00% | 7.00% | 10.00% | |
Activision | ||||
Significant Accounting Policies [Line Items] | ||||
New product purchases, concentration percentage | 6.00% | 6.00% | 9.00% |
Asset Impairments - Summary Of
Asset Impairments - Summary Of Company's Asset Impairments (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | $ 0.2 | ||
Impairment of intangible assets | $ 339.8 | $ 14.4 | 0 |
Other Asset Impairment Charges | 358 | 33.8 | 4.6 |
Fair Value, Measurements, Nonrecurring | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairments of property, equipment and other assets - store impairments | 18.2 | 19.4 | 4.4 |
United States [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairments of property, equipment and other assets - store impairments | 1.2 | 0.3 | 2.8 |
Other Asset Impairment Charges | 1.2 | 0.3 | 2.8 |
Canada [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairments of property, equipment and other assets - store impairments | 0 | 0.2 | 0 |
Other Asset Impairment Charges | 0 | 0.2 | 0 |
Europe1 [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | 0.2 | ||
Australia | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairments of property, equipment and other assets - store impairments | 0.3 | 0 | 0 |
Other Asset Impairment Charges | 0.3 | 0 | 0 |
Technology Brands | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairments of property, equipment and other assets - store impairments | 15.5 | 16.6 | 1 |
Other Asset Impairment Charges | 355.3 | 23.6 | 1 |
Trade Names | Europe1 [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairments of property, equipment and other assets - store impairments | 1.2 | 2.3 | 0.6 |
Other Asset Impairment Charges | 1.2 | 9.7 | $ 0.8 |
Dealer Agreements [Member] | Technology Brands | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | 339.8 | ||
Simply Mac [Member] | Dealer Agreements [Member] | Technology Brands | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | $ 11 | 7 | |
Micromania [Member] | Trade Names | Europe1 [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | $ 7.4 |
Asset Impairments - Narrative (
Asset Impairments - Narrative (Detail) - USD ($) $ in Millions | Aug. 03, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||||
Asset Impairment Charges | $ 390.8 | $ 33.8 | $ 395.1 | $ 33.8 | $ 4.6 | |
Impairment of intangible assets | 339.8 | 14.4 | 0 | |||
Australia | ||||||
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||||
Impairment of Long-Lived Assets Held-for-use | 0.3 | 0 | 0 | |||
Canada [Member] | ||||||
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||||
Impairment of Long-Lived Assets Held-for-use | 0 | 0.2 | 0 | |||
Technology Brands | ||||||
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||||
Impairment of Long-Lived Assets Held-for-use | $ 15.5 | $ 16.6 | $ 1 | |||
Cellular World & Red Skye [Member] | ||||||
Asset Impairments Exit Costs And Other Charges [Line Items] | ||||||
Business Combination, Consideration Transferred | $ 436.5 |
Acquisitions and Divestitures -
Acquisitions and Divestitures - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) $ in Millions | Jul. 21, 2017USD ($) | Aug. 03, 2016USD ($) | May 31, 2016USD ($) | Jan. 28, 2017USD ($) | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Aug. 02, 2016USD ($) | Mar. 09, 2016USD ($) | Jul. 17, 2015USD ($) |
Business Acquisition [Line Items] | ||||||||||
Proceeds from Divestiture of Businesses | $ 55 | $ 0 | $ 0 | |||||||
Goodwill | $ 1,725.2 | $ 1,667.3 | 1,725.2 | 1,476.7 | ||||||
Number of Stores | 7,276 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 8.5 | 441.2 | 267.5 | |||||||
Cash Acquired from Acquisition | 0.1 | 13.9 | 3.6 | |||||||
Acquisitions (Note 3) | 243.3 | |||||||||
Geeknet [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Business Combination, Acquired Receivable, Fair Value | $ 6.9 | |||||||||
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, Inventory | 25.6 | |||||||||
Goodwill | 52.2 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 33.4 | |||||||||
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, Other Noncurrent Assets | 0.1 | |||||||||
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, Deferred Tax Liabilities Noncurrent | (12.6) | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 8.4 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 126 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 126 | |||||||||
Cash Acquired from Acquisition | 13.9 | |||||||||
Cellular World & Red Skye [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Business Combination, Consideration Transferred | $ 436.5 | |||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 136.6 | |||||||||
Business Combination, Contingent Consideration, Liability | $ 43.2 | |||||||||
Number of Stores | 436 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 393.3 | |||||||||
Cash Acquired from Acquisition | $ 0.1 | |||||||||
Midwest Cellular [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Number of Stores | 71 | |||||||||
Technology Brands [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 141.5 | |||||||||
Acquisitions (Note 3) | 46.3 | |||||||||
Indefinite-lived Intangible Assets Acquired | 76.6 | |||||||||
Technology Brands [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Goodwill | 352 | 316.8 | 352 | $ 112.9 | ||||||
Acquisitions (Note 3) | $ 239.1 | |||||||||
Technology Brands [Member] | 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 | |||||||||
Technology Brands [Member] | 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. | |||||||||
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 | |||||||||
Technology Brands [Member] | Midwest Cellular [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 47 | |||||||||
Dealer Agreements [Member] | Technology Brands [Member] | Cellular World & Red Skye [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Indefinite-lived Intangible Assets Acquired | $ 163 | |||||||||
Dealer Agreements [Member] | Technology Brands [Member] | Midwest Cellular [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Indefinite-lived Intangible Assets Acquired | $ 42.7 | |||||||||
Unsecured Debt [Member] | Senior Notes 6.75% due 2021 [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Debt Instrument, Face Amount | $ 475 | $ 475 | $ 475 | $ 475 | ||||||
Restricted Cash [Member] | Kongregate [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Proceeds from Divestiture of Businesses | $ 3.5 |
Acquisitions and Divestitures47
Acquisitions and Divestitures - Narrative (Detail) $ in Millions | Jan. 24, 2018USD ($) | Jul. 21, 2017USD ($) | Aug. 03, 2016USD ($) | Jan. 28, 2017USD ($) | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Aug. 02, 2016USD ($) | May 31, 2016 | Mar. 09, 2016USD ($) | Jul. 17, 2015USD ($) |
Business Acquisition [Line Items] | |||||||||||
Proceeds from Divestiture of Businesses | $ 55 | $ 0 | $ 0 | ||||||||
Gain (Loss) on Disposition of Business | $ 6.4 | ||||||||||
Business Combination, Contingent Consideration Arrangements, Description | In August 2016, we acquired certain assets from Cellular World and Red Skye Wireless (see Note 3, "Acquisitions and Divestitures"). The purchase price included two contingent payments with an acquisition-date liability of $43.2 million representing the total estimated fair value of the contingent consideration. The first payment of $20.0 million was contingent on the relocation of certain stores and was paid in August 2017. The second payment was variable and contingent on the sales performance of certain acquired stores during calendar year 2017. Based on the actual sales performance of these stores, we recognized an $11.0 million adjustment to reduce the contingent liability to $12.2 million during fiscal 2017, which is due in the first quarter of 2018. | ||||||||||
Number of Stores | 7,276 | ||||||||||
Cash Acquired from Acquisition | $ 0.1 | 13.9 | 3.6 | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 8.5 | 441.2 | 267.5 | ||||||||
Acquisitions (Note 3) | 243.3 | ||||||||||
Goodwill | $ 1,725.2 | 1,667.3 | 1,725.2 | 1,476.7 | |||||||
Cellular World & Red Skye [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of Stores | 436 | ||||||||||
Cash Acquired from Acquisition | $ 0.1 | ||||||||||
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 | ||||||||||
Business Combination, 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, Net of Cash Acquired | 141.5 | ||||||||||
Indefinite-lived Intangible Assets Acquired | 76.6 | ||||||||||
Acquisitions (Note 3) | $ 46.3 | ||||||||||
Senior Notes 6.75% due 2021 [Member] | Unsecured Debt [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Debt Instrument, Face Amount | $ 475 | 475 | $ 475 | $ 475 | |||||||
Kongregate [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Gain (Loss) on Disposition of Business | $ 6.4 | ||||||||||
Kongregate [Member] | UnrestrictedAndRestricted [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Proceeds from Divestiture of Businesses | $ 54.7 | ||||||||||
Kongregate [Member] | Restricted Cash [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Proceeds from Divestiture of Businesses | $ 3.5 | ||||||||||
Cricket Branded [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of Stores | 63 | ||||||||||
Cricket Branded [Member] | Cash and Cash Equivalents [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Proceeds from Divestiture of Businesses | $ 3.8 |
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 | 1 Months Ended | 3 Months Ended | ||||
Aug. 31, 2017 | Oct. 28, 2017 | Feb. 03, 2018 | Jan. 28, 2017 | Aug. 02, 2016 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | ||||||
Assets | ||||||
Life insurance policies we own | [1] | $ 13.9 | $ 12.4 | |||
Total assets | 16.3 | 25.8 | ||||
Liabilities | ||||||
Nonqualified deferred compensation | [2] | 1.2 | 1 | |||
Total liabilities | 11.1 | 5.4 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | ||||||
Liabilities | ||||||
Business Combination, Contingent Consideration, Liability | 12.2 | |||||
Total liabilities | 12.2 | 43.2 | ||||
Other current assets | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | ||||||
Assets | ||||||
Derivative assets | 2.4 | 13.3 | ||||
Other noncurrent assets | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | ||||||
Assets | ||||||
Derivative assets | 0 | 0.1 | ||||
Accrued liabilities | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | ||||||
Liabilities | ||||||
Derivative Liability | 9.9 | 4.3 | ||||
Other long-term liabilities | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | ||||||
Liabilities | ||||||
Derivative Liability | $ 0 | 0.1 | ||||
Cellular World & Red Skye [Member] | ||||||
Liabilities | ||||||
Business Combination, Contingent Consideration, Liability | $ 43.2 | |||||
Payments of Merger Related Costs, Financing Activities | $ 20 | |||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 11 | |||||
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 | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Fair Value Derivative Contract Assets and Liabilities Measured On Recurring Basis Gain Loss Included In Earnings [Line Items] | |||
(Losses) gains on the changes in fair value of derivative instruments | $ (24.6) | $ 20 | $ (5.2) |
Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities | 27 | (15.5) | 6.8 |
Total | $ 2.4 | $ 4.5 | $ 1.6 |
Fair Value Measurements and F50
Fair Value Measurements and Financial Instruments - Narrative (Detail) - USD ($) $ in Millions | Aug. 03, 2016 | Aug. 31, 2017 | Oct. 28, 2017 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | Aug. 02, 2016 | Mar. 09, 2016 | Sep. 24, 2014 |
Fair Value of Financial Instruments [Line Items] | |||||||||
Business Combination, Contingent Consideration Arrangements, Description | In August 2016, we acquired certain assets from Cellular World and Red Skye Wireless (see Note 3, "Acquisitions and Divestitures"). The purchase price included two contingent payments with an acquisition-date liability of $43.2 million representing the total estimated fair value of the contingent consideration. The first payment of $20.0 million was contingent on the relocation of certain stores and was paid in August 2017. The second payment was variable and contingent on the sales performance of certain acquired stores during calendar year 2017. Based on the actual sales performance of these stores, we recognized an $11.0 million adjustment to reduce the contingent liability to $12.2 million during fiscal 2017, which is due in the first quarter of 2018. | ||||||||
Notional value of foreign currency derivatives gross | $ 563.3 | $ 586 | |||||||
Impairment of intangible assets | 339.8 | 14.4 | $ 0 | ||||||
Fair Value, Measurements, Nonrecurring | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Impairment of Long-Lived Assets Held-for-use | 18.2 | 19.4 | 4.4 | ||||||
Unsecured Debt [Member] | Senior Notes 5.5% due 2019 [Member] | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Debt Instrument, Fair Value Disclosure | 356 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||||||||
Senior Notes | 347.9 | ||||||||
Unsecured Debt [Member] | Senior Notes 6.75% due 2021 [Member] | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Debt Instrument, Fair Value Disclosure | 495.7 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | ||||||||
Senior Notes | 470 | ||||||||
Cellular World & Red Skye [Member] | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Business Combination, Contingent Consideration, Liability | $ 43.2 | ||||||||
Payments of Merger Related Costs, Financing Activities | $ 20 | ||||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 11 | ||||||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Business Combination, Contingent Consideration, Liability | 12.2 | ||||||||
Spring Mobile [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) | 77 | ||||||||
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) | 0 | 11 | |||||||
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 | ||||||||
Technology Brands | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Impairment of Long-Lived Assets Held-for-use | 15.5 | 16.6 | 1 | ||||||
Technology Brands | Dealer Agreements [Member] | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Impairment of intangible assets | 339.8 | ||||||||
Technology Brands | Spring Mobile [Member] | Dealer Agreements [Member] | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Impairment of intangible assets | 328.8 | ||||||||
Technology Brands | Simply Mac [Member] | Dealer Agreements [Member] | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Impairment of intangible assets | 11 | 7 | |||||||
Europe1 [Member] | Trade names | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Impairment of Long-Lived Assets Held-for-use | $ 1.2 | 2.3 | $ 0.6 | ||||||
Europe1 [Member] | Micromania [Member] | Trade names | |||||||||
Fair Value of Financial Instruments [Line Items] | |||||||||
Impairment of intangible assets | 7.4 | ||||||||
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 | $ 23.2 |
Receivables, Net - Summary of R
Receivables, Net - Summary of Receivables (Detail) - USD ($) $ in Millions | Feb. 03, 2018 | Jan. 28, 2017 |
Receivables [Abstract] | ||
Bankcard receivables | $ 51.2 | $ 39.5 |
Vendor Receivables | 96.8 | 143.3 |
Carrier Receivables | 42.3 | 41 |
Other receivables | 1.8 | 2.8 |
Allowance for doubtful accounts | (9.4) | (5.7) |
Total receivables, net | $ 182.7 | $ 220.9 |
Goodwill and Intangible Asset52
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill for Operating Segments (Detail) - USD ($) | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Goodwill [Line Items] | |||
Goodwill, Written off Related to Sale of Business Unit | $ (42,600,000) | ||
Goodwill, Impaired, Accumulated Impairment Loss | 673,300,000 | ||
Goodwill [Roll Forward] | |||
Beginning balance | 1,725,200,000 | $ 1,476,700,000 | |
Acquisitions (Note 3) | 243,300,000 | ||
Foreign currency translation adjustment | 17,500,000 | 5,200,000 | |
Ending balance | 1,667,300,000 | 1,725,200,000 | $ 1,476,700,000 |
Goodwill, Impairment Loss | (32,800,000) | 0 | 0 |
United States [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Written off Related to Sale of Business Unit | (40,200,000) | ||
Goodwill, Impaired, Accumulated Impairment Loss | 13,500,000 | ||
Goodwill [Roll Forward] | |||
Beginning balance | 1,199,700,000 | 1,195,500,000 | |
Acquisitions (Note 3) | 4,200,000 | ||
Foreign currency translation adjustment | 0 | 0 | |
Ending balance | 1,159,500,000 | 1,199,700,000 | 1,195,500,000 |
Canada [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Impaired, Accumulated Impairment Loss | 100,300,000 | ||
Goodwill [Roll Forward] | |||
Beginning balance | 28,600,000 | 26,900,000 | |
Acquisitions (Note 3) | 0 | 0 | |
Foreign currency translation adjustment | 1,700,000 | 1,700,000 | |
Ending balance | 30,300,000 | 28,600,000 | 26,900,000 |
Australia | |||
Goodwill [Line Items] | |||
Goodwill, Impaired, Accumulated Impairment Loss | 107,100,000 | ||
Goodwill [Roll Forward] | |||
Beginning balance | 70,100,000 | 65,700,000 | |
Acquisitions (Note 3) | 0 | 0 | |
Foreign currency translation adjustment | 3,500,000 | 4,400,000 | |
Ending balance | 73,600,000 | 70,100,000 | 65,700,000 |
Europe1 [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Impaired, Accumulated Impairment Loss | 419,600,000 | ||
Goodwill [Roll Forward] | |||
Beginning balance | 74,800,000 | 75,700,000 | |
Acquisitions (Note 3) | 0 | 0 | |
Foreign currency translation adjustment | 12,300,000 | (900,000) | |
Ending balance | 87,100,000 | 74,800,000 | 75,700,000 |
Technology Brands | |||
Goodwill [Line Items] | |||
Goodwill, Written off Related to Sale of Business Unit | (2,400,000) | ||
Goodwill [Roll Forward] | |||
Beginning balance | 352,000,000 | 112,900,000 | |
Acquisitions (Note 3) | 239,100,000 | ||
Foreign currency translation adjustment | 0 | 0 | |
Ending balance | 316,800,000 | $ 352,000,000 | $ 112,900,000 |
Goodwill, Impairment Loss | $ (32,800,000) |
Goodwill and Intangible Asset53
Goodwill and Intangible Assets - Schedule of Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Millions | Feb. 03, 2018 | Jan. 28, 2017 |
Indefinite-lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Accumulated Amortization | $ (105.2) | $ (86.2) |
Indefinite and Finite-Lived Intangible Assets, Gross | 274.7 | 593.4 |
Indefinite and Finite-Lived Intangible Assets, Net Carrying Amount | 169.5 | 507.2 |
Trade names | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 49.3 | 43.7 |
Dealer agreements | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 77 | 409.3 |
Leasehold rights | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 100.4 | 86.4 |
Finite-Lived Intangible Assets, Accumulated Amortization | (67) | (51.4) |
Finite-Lived Intangible Assets, Net | 33.4 | 35 |
Customer Relationships [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 14.5 | 14.5 |
Finite-Lived Intangible Assets, Accumulated Amortization | (6.8) | (4.1) |
Finite-Lived Intangible Assets, Net | 7.7 | 10.4 |
Other | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 33.5 | 39.5 |
Finite-Lived Intangible Assets, Accumulated Amortization | (31.4) | (30.7) |
Finite-Lived Intangible Assets, Net | $ 2.1 | $ 8.8 |
Goodwill and Intangible Asset54
Goodwill and Intangible Assets - Estimated Aggregate Amortization Expenses for Deferred Financing Fees and Other Intangible Assets (Detail) - Other $ in Millions | Feb. 03, 2018USD ($) |
Expected Amortization Expense [Line Items] | |
2,019 | $ 11.4 |
2,020 | 8.7 |
2,021 | 6.4 |
2,022 | 4.5 |
2,023 | 3.7 |
Finite Lived Intangible Assets Future Amortization Expense | $ 34.7 |
Goodwill and Intangible Asset55
Goodwill and Intangible Assets - Narrative (Detail) - USD ($) | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Goodwill impairments | $ 32,800,000 | $ 0 | $ 0 |
Goodwill, Accumulated Impairment Loss | $ 673,300,000 | ||
Total weighted-average amortization period for finite lived intangible assets | 9 years 4 months 26 days | ||
Impairment of intangible assets | $ 339,800,000 | 14,400,000 | 0 |
Amortization of Intangible Assets | $ 13,400,000 | 15,000,000 | $ 13,400,000 |
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 | Maximum | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Total weighted-average amortization period for finite lived intangible assets | 7 years | ||
Advertising relationships | Minimum | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Total weighted-average amortization period for finite lived intangible assets | 5 years | ||
Europe1 [Member] | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Goodwill, Accumulated Impairment Loss | $ 419,600,000 | ||
Technology Brands | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Goodwill impairments | $ 32,800,000 | ||
Goodwill, Impaired, Facts and Circumstances Leading to Impairment | The impairment was the result of a decline in the projected profitability and store count growth in our Technology Brands business, primarily associated with Spring Mobile. The lower projected profitability is due to the negative impact of a longer upgrade cycle for new mobile devices and changes made by AT&T to the compensation structure in 2017. While Technology Brands remains profitable, we currently do not expect to invest and grow the store count at the levels in previous long-term financial forecasts. | ||
Technology Brands | Dealer Agreements [Member] | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Impairment of intangible assets | $ 339,800,000 | ||
Spring Mobile [Member] | Technology Brands | Dealer Agreements [Member] | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Impairment of intangible assets | 328,800,000 | ||
Simply Mac [Member] | Technology Brands | Dealer Agreements [Member] | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Impairment of intangible assets | $ 11,000,000 | $ 7,000,000 |
Income Taxes - Provision for I
Income Taxes - Provision for Income Tax (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Current tax expense: | |||
Federal | $ 110.1 | $ 143.8 | $ 178.7 |
State | 14.9 | 13.5 | 16.3 |
Foreign | 28.5 | 29.2 | 28.9 |
Current Income Tax Expense Benefit | 153.5 | 186.5 | 223.9 |
Deferred tax expense (benefit): | |||
Federal | (78.5) | (1.2) | 0.2 |
State | (13.4) | (0.2) | 3.6 |
Foreign | (16) | (33.6) | (5.3) |
Deferred Income Tax Expense Benefit | (107.9) | (35) | (1.5) |
Income tax expense | $ 45.6 | $ 151.5 | $ 222.4 |
Income Taxes - Components of E
Income Taxes - Components of Earnings Before Income Tax Expense (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
United States | $ 7.1 | $ 446.8 | $ 553.5 |
International | 73.2 | 57.9 | 71.7 |
Earnings before income tax expense | $ 80.3 | $ 504.7 | $ 625.2 |
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 | 12 Months Ended | |||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | ||
Income Tax Disclosure [Abstract] | ||||
Federal statutory tax rate(1) | 33.70% | 35.00% | 35.00% | |
State income taxes, net of federal effect | (0.80%) | 1.70% | 2.10% | |
Foreign income tax rate differential | (5.10%) | (0.90%) | (1.00%) | |
Subpart F income | (5.10%) | 4.10% | (0.90%) | |
EffectiveIncomeTaxRateReconciliationChangeInUnrecognizedTaxBenefits | (7.10%) | 2.30% | 0.90% | |
EffectiveIncomeTaxRateReconciliationTaxReformTransitionTax | 12.70% | |||
EffectiveIncomeTaxRateReconciliationTaxReform | 39.60% | |||
Interest income from hybrid securities | 1.50% | 1.30% | 0.90% | |
Tax reform | (4.00%) | (0.60%) | (1.60%) | |
Realization of Losses Not Previously Benefited | (8.30%) | |||
EffectiveIncomeTaxRateReconciliationLossOnInvestmentinForeignSubsidiary | (3.20%) | |||
gme_EffectiveIncomeTaxRateReconciliationIntercompanySaleofIntangibleAssets | (16.40%) | |||
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent | (11.70%) | (0.10%) | (0.10%) | |
EffectiveIncomeTaxRateReconciliationWithholdingTaxExpense | 11.20% | 0.20% | 0.20% | |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Percent | 8.50% | |||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Percent | 3.10% | |||
Effective Income Tax Rate Reconciliation, Disposition of Business, Percent | (2.70%) | |||
Effective Income Tax Rate Reconciliation, Deduction, Qualified Production Activity, Percent | (1.70%) | (0.30%) | (0.50%) | |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent | 2.30% | 0.50% | 0.40% | |
gme_EffectiveIncomeTaxRateReconciliationUnrealized(Gain)LossesOnForeignCurrencyExchange | (1.90%) | (0.10%) | ||
Other (including permanent differences)(2) | [1] | 0.70% | (1.60%) | 0.20% |
Effective Income Tax Rate, Continuing Operations, Total | 56.80% | 30.00% | 35.60% | |
Effective Income Tax Rate Reconciliation, Other, Threshold of Items Included as a Percentage of Earnings Before Income Taxes | 1.686% | |||
PreviouslyUnrecognized [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $ 42.1 | |||
Operating Loss Carryforwards, Valuation Allowance | $ 14.8 | |||
[1] | (2)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 $14.8 million. The valuation allowance established for this tax benefit is reflected in the line item “Change in valuation allowance.” |
Income Taxes - Blended Statuto
Income Taxes - Blended Statutory Rate (Details) | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 33.70% | 35.00% | 35.00% |
Income Taxes - Components of D
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Feb. 03, 2018 | Jan. 28, 2017 | |
Income Tax Disclosure [Abstract] | ||
Current Fiscal Year End Date | --02-03 | |
Deferred tax asset: | ||
Inventory obsolescence reserve | $ 16.8 | $ 26.7 |
Deferred rents | 6.9 | 8.4 |
Stock-based compensation | 9.2 | 12 |
Net operating losses | 86.2 | 89.6 |
Deferred Tax Assets, Deferred Income | 16.6 | 19.5 |
Property and equipment | 13.6 | 3.4 |
Credits | 9.5 | 10.7 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | 12.9 | 23.8 |
Deferred Tax Assets, Goodwill and Intangible Assets | 63.2 | (47.9) |
Other | 12.9 | 18.3 |
Intangible assets | 247.8 | 164.5 |
Other | (36.9) | (39.4) |
Prepaid expenses | 210.9 | 125.1 |
Other | ||
Net deferred tax assets | (49.9) | (75.5) |
The above amounts are reflected in the consolidated financial statements as: | (4.5) | (5.3) |
Deferred income taxes - assets | (3.3) | (8.3) |
Deferred income taxes - liabilities | (57.7) | (89.1) |
Net deferred tax assets | 153.2 | 36 |
The above amounts are reflected in the consolidated financial statements as: | ||
Deferred Tax Assets, Net, Noncurrent | 158.2 | 59 |
Deferred income taxes - liabilities | $ (5) | $ (23) |
Income Taxes - Reconciliation
Income Taxes - Reconciliation of Changes in Gross Balances of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
Current Fiscal Year End Date | --02-03 | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning balance of unrecognized tax benefits | $ 42.1 | $ 31.9 | $ 21.4 |
Increases related to current period tax positions | 1 | 3.5 | 4 |
Increases related to prior period tax positions | 11.2 | 7.9 | 9 |
Reductions as a result of a lapse of the applicable statute of limitations | (1.3) | (0.2) | (1) |
Reductions as a result of settlements with taxing authorities | (28.1) | (1) | (1.5) |
Ending balance of unrecognized tax benefits | $ 24.9 | $ 42.1 | $ 31.9 |
Income Taxes - Narrative (Deta
Income Taxes - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Taxes [Line Items] | ||||
TaxCutsandJobsActIncompleteAccountingProvisionalIncomeTaxExpenseBenefit | $ 42 | |||
TaxCutsandJobsActof2017TransitionTaxforAccumulatedForeignEarningsIncomeTaxExpense | 10.2 | |||
TaxCutsandJobsActof2017AccumulatedForeignEarningsSubjectToTransitionTax | 333.4 | |||
TaxCutsandJobsActChangeinTaxRateIncomeTaxExpense | 31.8 | |||
Realization of Losses Not Previously Benefited | (8.30%) | |||
Valuation allowance | 36.9 | $ 39.4 | ||
Tax Credit Carryforward, Amount | $ 0.9 | |||
Current Fiscal Year End Date | --02-03 | |||
Gross amount of unrecognized tax benefits | $ 24.9 | 42.1 | $ 31.9 | $ 21.4 |
Unrecognized tax benefits that would impact effective tax rate | 18.8 | |||
Unrecognized tax benefits, interest and penalties accrued | 6.9 | 7.2 | 4.9 | |
Unrecognized tax benefits, interest and penalties expense | $ 0.3 | 2.3 | $ 0.4 | |
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 | $ 25.3 | |||
NOL with expiration [Member] | Minimum | ||||
Income Taxes [Line Items] | ||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2018 | |||
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 | $ 246.1 | |||
Geeknet [Member] | NOL with expiration [Member] | ||||
Income Taxes [Line Items] | ||||
Operating Loss Carryforwards | $ 74.2 | |||
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 | Feb. 03, 2018 | Jan. 28, 2017 | Aug. 02, 2016 |
Payables and Accruals [Abstract] | |||
Customer liabilities | $ 302.4 | $ 342.5 | |
Deferred revenue | 139.7 | 131.5 | |
Employee benefits, compensation and related taxes | 168.1 | 147.7 | |
ChecksAndTransfersYetToBePresentedForPaymentFromZeroBalanceCashAccounts | 176.4 | 268.4 | |
Other taxes | 63.4 | 52 | |
Other accrued liabilities(1) | 126.1 | 148.8 | |
Total accrued liabilities | 976.1 | 1,090.9 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Business Combination, Contingent Consideration, Liability | $ 12.2 | ||
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] | Other long-term liabilities | Fair Value, Measurements, Recurring | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Business Combination, Contingent Consideration, Liability | 23.2 | ||
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) | Nov. 21, 2017 | Mar. 10, 2016USD ($) | Sep. 24, 2014USD ($) | Mar. 25, 2014 | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Nov. 20, 2017USD ($) | Mar. 09, 2016USD ($) | Sep. 30, 2007USD ($) |
Debt Instrument [Line Items] | ||||||||||
Long-term Debt | $ 817,900,000 | $ 815,000,000 | ||||||||
Borrowings from the revolver | 373,000,000 | 545,000,000 | $ 463,000,000 | |||||||
Repayments of Lines of Credit | 373,000,000 | 545,000,000 | $ 463,000,000 | |||||||
Line of Credit Facility, Average Outstanding Amount | 19,100,000 | |||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 412,600,000 | |||||||||
Line of Credit Facility, Fair Value of Amount Outstanding | 0 | |||||||||
Letters of Credit Outstanding, Amount | 7,400,000 | |||||||||
Senior Notes All [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt Issuance Costs, Noncurrent, Net | (7,100,000) | (10,000,000) | ||||||||
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 | $ 475,000,000 | $ 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 | |||||||||
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, Current Borrowing Capacity | $ 420,000,000 | |||||||||
IncrementalFILOfacility | 50,000,000 | |||||||||
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 | 20.00% | |||||||||
Projected Revolver Usage Percentage | 15.00% | |||||||||
Debt Instrument, Cash Dividend Restriction, Pro Forma, Fixed Charge Coverage Ratio | 1 | |||||||||
Ratio Covenant Lower Limit | $ 30,000,000 | |||||||||
Covenant Percentage | 10.00% | |||||||||
Commitment Fee Current | 0.25% | |||||||||
Line of Credit Facility, Interest Rate During Period | 2.96% | |||||||||
Amended Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Applicable Margin Rate | 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% | |||||||||
Applicable Margin Rate | 1.25% | |||||||||
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 | Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest Rate Margin | 0.25% | |||||||||
Minimum | Five Year Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest Rate Margin | 1.25% | |||||||||
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 | Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest Rate Margin | 0.75% | |||||||||
Maximum | Five Year Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest Rate Margin | 1.75% | |||||||||
Maximum | Amended Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest Rate Margin | 0.50% | |||||||||
Maximum | Amended Five Year Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest Rate Margin | 1.50% | |||||||||
LUXEMBOURG | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 20,000,000 | |||||||||
Bank Overdrafts | $ 0 | |||||||||
Guarantor Obligations, Current Carrying Value | $ 9,800,000 |
Debt Debt Table (Details)
Debt Debt Table (Details) - USD ($) $ in Millions | Feb. 03, 2018 | Jan. 28, 2017 | Mar. 09, 2016 | Sep. 24, 2014 |
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 817.9 | $ 815 | ||
Senior Notes All [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Issuance Costs, Noncurrent, Net | 7.1 | 10 | ||
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 | $ 475 | $ 475 |
Leases - Approximate Rental Ex
Leases - Approximate Rental Expenses Under Operating Leases (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Leases [Abstract] | |||
Minimum | $ 433.5 | $ 437.4 | $ 394.5 |
Percentage rentals | 8.9 | 6.9 | 7.8 |
Operating Leases Rent Expense Net | $ 442.4 | $ 444.3 | $ 402.3 |
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 | Feb. 03, 2018USD ($) |
Leases [Abstract] | |
2,019 | $ 377.2 |
2,020 | 253.7 |
2,021 | 145.8 |
2,022 | 75.4 |
2,023 | 38.9 |
Thereafter | 38.8 |
Operating Leases Future Minimum Payments Due | $ 929.8 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | Feb. 03, 2018 | Jan. 28, 2017 |
Business Acquisition, Contingent Consideration [Line Items] | ||
Bank Guarantee Relating To International Store Leases | $ 25.5 | $ 24.5 |
Commitments and Contingencies L
Commitments and Contingencies Litigation Contingency (Details) | 12 Months Ended |
Feb. 03, 2018EUR (€) | |
French Tax Administration Assessment [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Sought | € 80,000,000 |
Stockholders' Equity - Additio
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | Feb. 20, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
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 | ||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 24.94 | $ 38.68 | ||||||||||
Payments For Repurchase Of Common Stock, Settled in Current Year | 0 | $ 75.1 | $ 202 | |||||||||
Payments for Repurchase of Common Stock | 22 | $ 63.1 | $ 194.3 | |||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 170.2 | $ 170.2 | ||||||||||
Dividends declared per common share | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.37 | $ 0.37 | $ 0.37 | $ 0.37 | $ 1.52 | $ 1.32 | $ 1.10 | |
Class A Common Stock | ||||||||||||
Stockholders Equity Note [Line Items] | ||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.52 | $ 1.48 | $ 1.44 | |||||||||
Class A Common Stock | Subsequent Event | ||||||||||||
Stockholders Equity Note [Line Items] | ||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.38 | |||||||||||
Dividends Payable, Date Declared | Feb. 20, 2018 |
Common Stock and Share-Based 71
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 | Feb. 03, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Stock Repurchase Program, Authorized Amount | $ 500 | ||
Treasury Stock, Shares, Acquired | 3 | 5.2 | |
Treasury Stock Acquired, Average Cost Per Share | $ 24.94 | $ 38.68 | |
Stock Repurchased During Period, Value | $ 75.1 | $ 202 |
Common Stock and Share-Based 72
Common Stock and Share-Based Compensation - Summary of Status of Company's Stock Options (Detail) | 12 Months Ended |
Feb. 03, 2018$ / 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 | 1,327,353 |
Exercised | (6,300) |
Forfeited | (127,028) |
Balance, ending | 1,194,025 |
Weighted-Average Exercise Price | |
Balance, beginning | $ / shares | $ 35.43 |
Exercised | $ / shares | 20.32 |
Forfeited | $ / shares | 37.56 |
Balance, ending | $ / shares | $ 35.30 |
Common Stock and Share-Based 73
Common Stock and Share-Based Compensation - Summary of Outstanding and Exercisable Options (Detail) | 12 Months Ended |
Feb. 03, 2018$ / 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 | 1,200,000 |
Options Outstanding, Weighted-Average Remaining Life (Years) | 3 years 3 months 16 days |
Options Outstanding, Weighted-Average Contractual Price | $ 35.30 |
Options Exercisable, Number Exercisable | shares | 1,194,025 |
Options Exercisable, Weighted-Average Exercise Price | $ 35.30 |
$ 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 | 800,000 |
Options Outstanding, Weighted-Average Remaining Life (Years) | 4 years 7 months 25 days |
Options Outstanding, Weighted-Average Contractual Price | $ 29.23 |
Options Exercisable, Number Exercisable | shares | 844,075 |
Options Exercisable, Weighted-Average Exercise Price | $ 29.23 |
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 | 300,000 |
Options Outstanding, Weighted-Average Remaining Life (Years) | 3 days |
Options Outstanding, Weighted-Average Contractual Price | $ 49.95 |
Options Exercisable, Number Exercisable | shares | 349,950 |
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 74
Common Stock and Share-Based Compensation - Summary of Company's Restricted Stock Awards (Detail) - $ / shares | 12 Months Ended | |
Feb. 03, 2018 | Jan. 28, 2017 | |
Restricted Stock | ||
Shares | ||
Nonvested shares at beginning of period | 811,838 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 596,412 | |
Vested | (466,030) | |
Forfeited | (29,860) | |
Nonvested shares at end of period | 912,360 | 811,838 |
Weighted-Average Grant Date Fair Value | ||
Nonvested shares at beginning of period | $ 33.33 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 24.94 | $ 30.18 |
Vested | 33.41 | |
Forfeited | 28.73 | |
Nonvested shares at end of period | $ 27.96 | $ 33.33 |
Performance Shares [Member] | ||
Shares | ||
Nonvested shares at beginning of period | 505,190 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 287,670 | |
Vested | (60,474) | |
Forfeited | (179,197) | |
Nonvested shares at end of period | 553,189 | 505,190 |
Weighted-Average Grant Date Fair Value | ||
Nonvested shares at beginning of period | $ 35.87 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 25.28 | $ 30.54 |
Vested | 39.74 | |
Forfeited | 39.30 | |
Nonvested shares at end of period | $ 28.83 | $ 35.87 |
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | ||
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] | Performance Shares [Member] | ||
Shares | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 206,580 | |
Group Three [Member] | Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | ||
Shares | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 602,414 |
Common Stock and Share-Based 75
Common Stock and Share-Based Compensation - Narrative (Detail) - USD ($) $ / shares in Units, $ in Thousands | Feb. 20, 2018 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Payments of Dividends | $ (155,200) | $ (155,500) | $ (154,100) | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 32 | $ 100 | $ 6,700 | |
Treasury Stock, Shares, Acquired | 3,000,000 | 5,200,000 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 24.94 | $ 38.68 | ||
Stock Repurchased During Period, Value | $ 75,100 | $ 202,000 | ||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 170,200 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 0 | |||
Employee Stock Option [Member] | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Allocated Share-based Compensation Expense | (100) | $ (900) | (2,600) | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 0 | |||
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 | 596,412 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 466,030 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 24.94 | $ 30.18 | ||
Allocated Share-based Compensation Expense | $ (25,500) | $ (16,900) | (27,300) | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 16,300 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 7 months 9 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 12,500 | $ 27,600 | $ 34,100 | |
Performance Shares [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 | 287,670 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 60,474 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 25.28 | $ 30.54 | ||
Allocated Share-based Compensation Expense | $ 2,900 | $ 5,900 | ||
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 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 | 602,414 | |||
Two Thousand Eleven Stock Incentive Plan [Member] | Performance Shares [Member] | 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 | 206,580 | |||
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 | |||
Class A Common Stock | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.52 | $ 1.48 | $ 1.44 | |
Class A Common Stock | Subsequent Event [Member] | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.38 |
Common Stock and Share-Based 76
Common Stock and Share-Based Compensation Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions | Feb. 20, 2018 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
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 | $ 1.52 | $ 1.48 | $ 1.44 | |
Subsequent Event [Member] | Class A Common Stock | ||||
Class of Stock [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.38 | |||
Dividends Payable, Date Declared | Feb. 20, 2018 |
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 | |||||||||
Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Earnings Per Share [Abstract] | |||||||||||
Net Income (Loss) Attributable to Parent | $ (105.9) | $ 59.4 | $ 22.2 | $ 59 | $ 208.7 | $ 50.8 | $ 27.9 | $ 65.8 | $ 34.7 | $ 353.2 | $ 402.8 |
Weighted Average Number of Shares Outstanding, Basic | 101.4 | 103.4 | 106 | ||||||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 0.1 | 0.4 | 0.7 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | 101.5 | 103.8 | 106.7 | ||||||||
Earnings Per Share, Basic and Diluted [Abstract] | |||||||||||
Basic (USD per share) | $ (1.04) | $ 0.59 | $ 0.22 | $ 0.58 | $ 2.04 | $ 0.49 | $ 0.27 | $ 0.63 | $ 0.34 | $ 3.42 | $ 3.80 |
Diluted (USD per share) | $ (1.04) | $ 0.59 | $ 0.22 | $ 0.58 | $ 2.04 | $ 0.49 | $ 0.27 | $ 0.63 | $ 0.34 | $ 3.40 | $ 3.78 |
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 | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Class A Common Stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti- Dilutive Shares | 2 | 1.4 | 1 |
Employees' Defined Contributi79
Employees' Defined Contribution Plan - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Defined Contribution Plan [Abstract] | |||
Percentage of eligible gross cash compensation employees are allowed to invest in the savings plan | 60.00% | ||
Company's contributions to the Savings plan | $ 8.4 | $ 7.8 | $ 6.3 |
Significant Products - Sales a
Significant Products - Sales and Sales Percentage by Significant Product Category (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Product Information [Line Items] | |||||||||||
Sales | $ 3,502.5 | $ 1,988.6 | $ 1,687.6 | $ 2,045.9 | $ 3,045.4 | $ 1,959.2 | $ 1,631.8 | $ 1,971.5 | $ 9,224.6 | $ 8,607.9 | $ 9,363.8 |
Percent of Total | 100.00% | 100.00% | 100.00% | ||||||||
New video game hardware(1) | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 1,791.8 | $ 1,396.7 | $ 1,944.7 | ||||||||
Percent of Total | 19.40% | 16.20% | 20.80% | ||||||||
New video game software | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 2,582 | $ 2,493.4 | $ 2,905.1 | ||||||||
Percent of Total | 28.00% | 29.00% | 31.00% | ||||||||
Pre-owned and value video game products | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 2,149.6 | $ 2,254.1 | $ 2,374.7 | ||||||||
Percent of Total | 23.30% | 26.20% | 25.40% | ||||||||
Video game accessories | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 784.3 | $ 676.7 | $ 703 | ||||||||
Percent of Total | 8.50% | 7.90% | 7.50% | ||||||||
Digital | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 189.2 | $ 181 | $ 188.3 | ||||||||
Percent of Total | 2.10% | 2.10% | 2.00% | ||||||||
Technology Brands | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 803.6 | $ 814 | $ 534 | ||||||||
Percent of Total | 8.70% | 9.50% | 5.70% | ||||||||
Collectibles [Member] | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 636.2 | $ 494.1 | $ 309.7 | ||||||||
Percent of Total | 6.90% | 5.70% | 3.30% | ||||||||
Other3 | |||||||||||
Product Information [Line Items] | |||||||||||
Sales | $ 287.9 | $ 297.9 | $ 404.3 | ||||||||
Percent of Total | 3.10% | 3.40% | 4.30% |
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 | |||||||||
Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Product Information [Line Items] | |||||||||||
Gross Profit | $ 1,024.5 | $ 689.4 | $ 623.7 | $ 702.5 | $ 1,007.9 | $ 708.2 | $ 617.7 | $ 675.5 | $ 3,040.1 | $ 3,009.3 | $ 2,918.3 |
Gross Margin Percent | 33.00% | 35.00% | 31.20% | ||||||||
New video game hardware(1) | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 163.1 | $ 154.2 | $ 175.5 | ||||||||
Gross Margin Percent | 9.10% | 11.00% | 9.00% | ||||||||
New video game software | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 590.3 | $ 600.4 | $ 689.3 | ||||||||
Gross Margin Percent | 22.90% | 24.10% | 23.70% | ||||||||
Pre-owned and value video game products | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 977.1 | $ 1,044.1 | $ 1,114.5 | ||||||||
Gross Margin Percent | 45.50% | 46.30% | 46.90% | ||||||||
Video game accessories | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 255 | $ 235.2 | $ 255.5 | ||||||||
Gross Margin Percent | 32.50% | 34.80% | 36.30% | ||||||||
Digital | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 162.4 | $ 155.5 | $ 149.6 | ||||||||
Gross Margin Percent | 85.80% | 85.90% | 79.40% | ||||||||
Technology Brands | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 594 | $ 554.6 | $ 306.6 | ||||||||
Gross Margin Percent | 73.90% | 68.10% | 57.40% | ||||||||
Collectibles [Member] | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 208.2 | $ 171.6 | $ 116.6 | ||||||||
Gross Margin Percent | 32.70% | 34.70% | 37.60% | ||||||||
Other3 | |||||||||||
Product Information [Line Items] | |||||||||||
Gross Profit | $ 90 | $ 93.7 | $ 110.7 | ||||||||
Gross Margin Percent | 31.30% | 31.50% | 27.40% |
Segment Information - Additiona
Segment Information - Additional Information (Detail) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Feb. 03, 2018USD ($)LocationCountry | Oct. 28, 2017USD ($) | Jul. 29, 2017USD ($) | Apr. 29, 2017USD ($) | Jan. 28, 2017USD ($) | Oct. 29, 2016USD ($) | Jul. 30, 2016USD ($) | Apr. 30, 2016USD ($) | Feb. 03, 2018USD ($)LocationCountry | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | |
Segment Reporting Disclosure [Line Items] | |||||||||||
Net sales | $ 3,502.5 | $ 1,988.6 | $ 1,687.6 | $ 2,045.9 | $ 3,045.4 | $ 1,959.2 | $ 1,631.8 | $ 1,971.5 | $ 9,224.6 | $ 8,607.9 | $ 9,363.8 |
Video Game Brands [Member] | |||||||||||
Segment Reporting Disclosure [Line Items] | |||||||||||
Number of Operating Segments | 4 | ||||||||||
UNITED STATES | |||||||||||
Segment Reporting Disclosure [Line Items] | |||||||||||
Net sales | $ 5,749.9 | 5,488.9 | 6,435.1 | ||||||||
Number of states the entity operates | Location | 50 | 50 | |||||||||
Europe | |||||||||||
Segment Reporting Disclosure [Line Items] | |||||||||||
Net sales | $ 1,534 | $ 1,313.5 | $ 1,356.7 | ||||||||
Europe | Retail Site | |||||||||||
Segment Reporting Disclosure [Line Items] | |||||||||||
Number of countries in which the entity operates | Country | 10 | 10 |
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 | |||||||||
Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Segment Reporting Information [Line Items] | |||||||||||
Operating Income (Loss) | $ (96.7) | $ 87.6 | $ 43.6 | $ 101.1 | $ 286.6 | $ 98.8 | $ 58.3 | $ 114 | $ 135.6 | $ 557.7 | $ 648.2 |
Net sales | 3,502.5 | $ 1,988.6 | $ 1,687.6 | $ 2,045.9 | 3,045.4 | $ 1,959.2 | $ 1,631.8 | $ 1,971.5 | 9,224.6 | 8,607.9 | 9,363.8 |
Interest income | 1.5 | 0.8 | 0.4 | ||||||||
Interest expense | (56.8) | (53.8) | (23.4) | ||||||||
Earnings before income taxes | 80.3 | 504.7 | 625.2 | ||||||||
Goodwill | 1,667.3 | 1,725.2 | 1,667.3 | 1,725.2 | 1,476.7 | ||||||
Other long-lived assets | 835.6 | 1,110 | 835.6 | 1,110 | 916.1 | ||||||
Total assets | 5,041.6 | 4,975.9 | 5,041.6 | 4,975.9 | 4,330.3 | ||||||
Income tax expense (benefit) | 45.6 | 151.5 | 222.4 | ||||||||
Depreciation and amortization | 150.7 | 165.2 | 156.6 | ||||||||
Capital expenditures | 113.4 | 142.7 | 173.2 | ||||||||
Technology Brands | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Income (Loss) | (315.7) | 44.2 | 27 | ||||||||
Net sales | 803.6 | 814 | 534 | ||||||||
Goodwill | 316.8 | 352 | 316.8 | 352 | 112.9 | ||||||
Other long-lived assets | 216.9 | 530.4 | 216.9 | 530.4 | 321.3 | ||||||
Total assets | 732.9 | 1,118.5 | 732.9 | 1,118.5 | 588.7 | ||||||
Income tax expense (benefit) | (91.4) | 12.3 | 8.9 | ||||||||
Depreciation and amortization | 30.5 | 34.1 | 21.2 | ||||||||
Capital expenditures | 23.1 | 38.7 | 58.9 | ||||||||
UNITED STATES | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Income (Loss) | 344.9 | 430.2 | 504.3 | ||||||||
Net sales | 5,749.9 | 5,488.9 | 6,435.1 | ||||||||
Goodwill | 1,159.5 | 1,199.7 | 1,159.5 | 1,199.7 | 1,195.5 | ||||||
Other long-lived assets | 280.8 | 285.5 | 280.8 | 285.5 | 329.9 | ||||||
Total assets | 920.5 | 2,583.3 | 920.5 | 2,583.3 | 2,698.5 | ||||||
Income tax expense (benefit) | 123.2 | 140.6 | 195 | ||||||||
Depreciation and amortization | 79.5 | 92.9 | 98.8 | ||||||||
Capital expenditures | 60.6 | 61.8 | 76.9 | ||||||||
CANADA | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Income (Loss) | 18.5 | 22.4 | 29.4 | ||||||||
Net sales | 434.9 | 382 | 446.6 | ||||||||
Goodwill | 30.3 | 28.6 | 30.3 | 28.6 | 26.9 | ||||||
Other long-lived assets | 24.5 | 23 | 24.5 | 23 | 17.6 | ||||||
Total assets | 187.3 | 271.6 | 187.3 | 271.6 | 259.2 | ||||||
Income tax expense (benefit) | 3.2 | 6 | 6.1 | ||||||||
Depreciation and amortization | 3.9 | 3.8 | 3.5 | ||||||||
Capital expenditures | 4.3 | 1.3 | 4.4 | ||||||||
AUSTRALIA | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Income (Loss) | 34.9 | 34.9 | 38.7 | ||||||||
Net sales | 702.2 | 609.5 | 591.4 | ||||||||
Goodwill | 73.6 | 70.1 | 73.6 | 70.1 | 65.7 | ||||||
Other long-lived assets | 60.4 | 56.5 | 60.4 | 56.5 | 47 | ||||||
Total assets | 457.5 | 434.6 | 457.5 | 434.6 | 382.2 | ||||||
Income tax expense (benefit) | 5.3 | 7.7 | 8.3 | ||||||||
Depreciation and amortization | 10.4 | 9.4 | 8.8 | ||||||||
Capital expenditures | 10.1 | 15.1 | 12.8 | ||||||||
Europe | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Income (Loss) | 53 | 26 | 48.8 | ||||||||
Net sales | 1,534 | 1,313.5 | 1,356.7 | ||||||||
Goodwill | 87.1 | 74.8 | 87.1 | 74.8 | 75.7 | ||||||
Other long-lived assets | 253 | 214.6 | 253 | 214.6 | 200.3 | ||||||
Total assets | $ 2,743.4 | $ 567.9 | 2,743.4 | 567.9 | 401.7 | ||||||
Income tax expense (benefit) | 5.3 | (15.1) | 4.1 | ||||||||
Depreciation and amortization | 26.4 | 25 | 24.3 | ||||||||
Capital expenditures | $ 15.3 | $ 25.8 | $ 20.2 |
Unaudited Quarterly Financial84
Unaudited Quarterly Financial Information - Consolidated Statement of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net sales | $ 3,502.5 | $ 1,988.6 | $ 1,687.6 | $ 2,045.9 | $ 3,045.4 | $ 1,959.2 | $ 1,631.8 | $ 1,971.5 | $ 9,224.6 | $ 8,607.9 | $ 9,363.8 |
Gross Profit | 1,024.5 | 689.4 | 623.7 | 702.5 | 1,007.9 | 708.2 | 617.7 | 675.5 | 3,040.1 | 3,009.3 | 2,918.3 |
Operating earnings (loss) | (96.7) | 87.6 | 43.6 | 101.1 | 286.6 | 98.8 | 58.3 | 114 | 135.6 | 557.7 | 648.2 |
Consolidated net income (loss) attributable to GameStop Corp. | $ (105.9) | $ 59.4 | $ 22.2 | $ 59 | $ 208.7 | $ 50.8 | $ 27.9 | $ 65.8 | $ 34.7 | $ 353.2 | $ 402.8 |
Basic | $ (1.04) | $ 0.59 | $ 0.22 | $ 0.58 | $ 2.04 | $ 0.49 | $ 0.27 | $ 0.63 | $ 0.34 | $ 3.42 | $ 3.80 |
Diluted | (1.04) | 0.59 | 0.22 | 0.58 | 2.04 | 0.49 | 0.27 | 0.63 | 0.34 | 3.40 | 3.78 |
Dividends declared per common share | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.37 | $ 0.37 | $ 0.37 | $ 0.37 | $ 1.52 | $ 1.32 | $ 1.10 |
Asset Impairment Charges | $ 390.8 | $ 33.8 | $ 395.1 | $ 33.8 | $ 4.6 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Inventory Valuation Reserve [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Deductions | $ (107.8) | $ (99.6) | $ (102.9) | |
Valuation Allowances and Reserves, Additions for Charges to Other Accounts | 50.7 | 49.6 | 58.2 | |
Valuation Allowances and Reserves, Additions for Charges to Cost and Expense | 57.3 | 47.5 | 36.9 | |
Valuation Allowances and Reserves, Balance | 59.2 | 59 | 61.5 | $ 69.3 |
Valuation Allowance of Deferred Tax Assets [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Deductions | (6.1) | (0.3) | (5.9) | |
Valuation Allowances and Reserves, Additions for Charges to Cost and Expense | 3.6 | 20.9 | 0.4 | |
Valuation Allowances and Reserves, Balance | $ 36.9 | $ 39.4 | $ 18.8 | $ 24.3 |