Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Mar. 21, 2019 | Aug. 04, 2018 | |
Document Documentand Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Feb. 2, 2019 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | GME | ||
Entity Registrant Name | GameStop Corp. | ||
Entity Central Index Key | 0001326380 | ||
Current Fiscal Year End Date | --02-02 | ||
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 | 102,267,435 | ||
Entity Public Float | $ 1,500 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Feb. 02, 2019 | Feb. 03, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 1,624.4 | $ 854.2 |
Receivables, net | 134.2 | 138.6 |
Merchandise inventories, net | 1,250.5 | 1,250.3 |
Prepaid expenses and other current assets | 118.6 | 115.2 |
Assets held for sale | 0 | 660.1 |
Total current assets | 3,127.7 | 3,018.4 |
Property and equipment: | ||
Land | 18.7 | 19.9 |
Buildings and leasehold improvements | 638.2 | 651.8 |
Fixtures and equipment | 900.2 | 914.6 |
Total property and equipment | 1,557.1 | 1,586.3 |
Less accumulated depreciation | 1,235.8 | 1,235.3 |
Property and equipment, net | 321.3 | 351 |
Noncurrent assets: | ||
Deferred income taxes | 147.3 | 158.2 |
Goodwill | 363.9 | 1,350.5 |
Other intangible assets, net | 33.5 | 92.5 |
Other noncurrent assets | 50.6 | 71 |
Total noncurrent assets | 916.6 | 2,023.2 |
Total assets | 4,044.3 | 5,041.6 |
Current liabilities: | ||
Accounts payable | 1,051.9 | 892.3 |
Accrued liabilities | 752.8 | 950.1 |
Income taxes payable | 27.2 | 37.5 |
Current portion of debt, net | 349.2 | 0 |
Liabilities held for sale | 0 | 50.9 |
Total current liabilities | 2,181.1 | 1,930.8 |
Long-term liabilities: | ||
Deferred income taxes | 0.1 | 5 |
Long-term debt, net | 471.6 | 817.9 |
Other long-term liabilities | 55.3 | 73.4 |
Total long-term liabilities | 527 | 896.3 |
Total liabilities | 2,708.1 | 2,827.1 |
Stockholders’ equity: | ||
Class A common stock — $.001 par value; authorized 300.0 shares; 102.0 and 101.3 shares issued, 102.0 and 101.3 shares outstanding, respectively | 0.1 | 0.1 |
Additional paid-in capital | 27.7 | 22.1 |
Accumulated other comprehensive (loss) income | (54.3) | 12.2 |
Retained earnings | 1,362.7 | 2,180.1 |
Total stockholders' equity | 1,336.2 | 2,214.5 |
Total liabilities and stockholders’ equity | $ 4,044.3 | $ 5,041.6 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions | Feb. 02, 2019 | Feb. 03, 2018 |
Statement of Financial Position [Abstract] | ||
Class A common stock, par value | $ 0.001 | $ 0.001 |
Class A common stock, authorized | 300 | 300 |
Class A common stock, issued | 102 | 101.3 |
Class A common stock, shares outstanding | 102 | 101.3 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Millions | 12 Months Ended | |||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | ||
Income Statement [Abstract] | ||||
Net sales | $ 8,285,300,000 | $ 8,547,100,000 | $ 7,965,000,000 | |
Cost of sales | 5,977,200,000 | 6,062,200,000 | 5,465,100,000 | |
Gross profit | 2,308,100,000 | 2,484,900,000 | 2,499,900,000 | |
Selling, general and administrative expenses | 1,888,600,000 | 1,909,600,000 | 1,861,900,000 | |
Depreciation and amortization | 105,600,000 | 122,300,000 | 136,700,000 | |
Goodwill impairments | 970,700,000 | 0 | 0 | |
Asset impairments | 45,200,000 | 13,800,000 | 19,600,000 | |
Operating (loss) earnings | (702,000,000) | 439,200,000 | 481,700,000 | |
Interest income | (5,700,000) | (1,500,000) | (800,000) | |
Interest expense | 56,800,000 | 56,800,000 | 53,800,000 | |
(Loss) earnings from continuing operations before income taxes | (753,100,000) | 383,900,000 | 428,700,000 | |
Income tax expense | 41,700,000 | 153,500,000 | 124,200,000 | |
Net (loss) income from continuing operations | (794,800,000) | 230,400,000 | 304,500,000 | |
Income (loss) from discontinued operations, net of tax | 121,800,000 | (195,700,000) | 48,700,000 | |
Net (loss) income | $ (673,000,000) | $ 34,700,000 | $ 353,200,000 | |
Basic earnings (loss) per share: | ||||
Income (Loss) from Continuing Operations, Per Basic Share | $ (7.79) | $ 2.27 | $ 2.94 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share | 1.19 | (1.93) | 0.47 | |
Basic (loss) earnings per share | [1] | (6.59) | 0.34 | 3.42 |
Diluted earnings (loss) per share: | ||||
Income (Loss) from Continuing Operations, Per Diluted Share | (7.79) | 2.27 | 2.93 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share | 1.19 | (1.93) | 0.47 | |
Diluted (loss) earnings per share | [1] | $ (6.59) | $ 0.34 | $ 3.40 |
Weighted-average shares outstanding: | ||||
Basic | 102.1 | 101.4 | 103.4 | |
Diluted | 102.1 | 101.5 | 103.8 | |
[1] | (1)The sum of (loss) earnings per share may not total to consolidated (loss) earnings per common share as amounts are calculated based on whole numbers. |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net (loss) income | $ (673) | $ 34.7 | $ 353.2 |
Other comprehensive income (loss): | |||
Foreign currency translation adjustments | (63.4) | 59.5 | 41.5 |
Reclassification of realized gain on foreign currency translation adjustments, net of tax of $0 | (3.1) | 0 | 0 |
Total comprehensive (loss) income | (739.5) | $ 94.2 | $ 394.7 |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | $ 0 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity - USD ($) shares in Millions, $ in Millions | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings |
Balance (in shares) at Jan. 30, 2016 | 103.3 | ||||
Balance at Jan. 30, 2016 | $ 2,081 | $ 0.1 | $ 0 | $ (88.8) | $ 2,169.7 |
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) | ||
Settlement of stock-based awards (in shares) | 0.7 | ||||
Settlement of stock-based awards | (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 |
Net income (loss) | 34.7 | 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 (in shares) | 0 | ||||
Repurchases of common stock | 0 | 0 | 0 | ||
Settlement of stock-based awards (in shares) | 0.3 | ||||
Settlement of stock-based awards | (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 |
Adoption of ASU 2014-09 (Note 1) | 11.5 | 11.5 | |||
Net income (loss) | (673) | (673) | |||
Foreign currency translation adjustments | (66.5) | (66.5) | |||
Dividends | (155.9) | (155.9) | |||
Stock-based compensation | 10.7 | 10.7 | |||
Repurchases of common stock (in shares) | 0 | ||||
Repurchases of common stock | 0 | 0 | 0 | ||
Settlement of stock-based awards (in shares) | 0.7 | ||||
Settlement of stock-based awards | (5.1) | (5.1) | |||
Balance (in shares) at Feb. 02, 2019 | 102 | ||||
Balance at Feb. 02, 2019 | $ 1,336.2 | $ 0.1 | $ 27.7 | $ (54.3) | $ 1,362.7 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Equity (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Statement of Stockholders' Equity [Abstract] | |||
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net | $ 0 | $ 0 | $ 0.8 |
Dividends declared per common share | $ 1.52 | $ 1.52 | $ 1.48 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows $ in Millions | 12 Months Ended | ||
Feb. 02, 2019USD ($) | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | |
Cash flows from operating activities: | |||
Net (loss) income | $ (673) | $ 34.7 | $ 353.2 |
Adjustments to reconcile net (loss) income to net cash flows provided by operating activities: | |||
Depreciation and amortization (including amounts in cost of sales) | 126.9 | 151.9 | 166.7 |
Provision for inventory reserves | 57.3 | 59.1 | 48.6 |
Goodwill and asset impairments | 1,015.9 | 395.1 | 33.8 |
Stock-based compensation expense | 10.7 | 25.6 | 17.8 |
Deferred income taxes | (4.1) | (107.9) | (37.2) |
Excess tax benefits related to stock-based awards | 0 | 0 | 0.8 |
Loss on disposal of property and equipment | 2 | 8.5 | 10.4 |
Gain on divestiture | (100.8) | (6.4) | 0 |
Other | (36.2) | (34.2) | (33.1) |
Changes in operating assets and liabilities: | |||
Receivables, net | (34.4) | 35.7 | (43.9) |
Merchandise inventories | (44.7) | (256.3) | 14.7 |
Prepaid expenses and other current assets | 2.2 | (1.2) | (11.4) |
Prepaid income taxes and income taxes payable | (18.7) | (24.7) | (49.1) |
Accounts payable and accrued liabilities | 17.1 | 169.8 | 64.1 |
Changes in other long-term liabilities | 4.9 | (14.8) | 1.7 |
Net cash flows provided by operating activities | 325.1 | 434.9 | 537.1 |
Cash flows from investing activities: | |||
Purchase of property and equipment | (93.7) | (113.4) | (142.7) |
Acquisitions, net of cash acquired | 0 | (8.5) | (441.2) |
Proceeds from divestiture, net of cash sold | 727.9 | 58.5 | 0 |
Other | 1.3 | 2.8 | 6.5 |
Net cash flows provided by (used in) investing activities | 635.5 | (60.6) | (577.4) |
Cash flows from financing activities: | |||
Repayment of acquisition-related debt | (12.2) | (21.8) | (0.4) |
Repurchase of common shares | 0 | (22) | (63.1) |
Dividends paid | (157.4) | (155.2) | (155.5) |
Proceeds from senior notes | 0 | 0 | 475 |
Borrowings from the revolver | 154 | 373 | 545 |
Repayments of revolver borrowings | (154) | (373) | (545) |
Payments of financing costs | 0 | 0 | (8.1) |
Issuance of common stock, net of share repurchases for withholding taxes | (5.1) | (3.5) | (8.4) |
Excess tax benefits related to stock-based awards | 0 | 0 | (0.8) |
Net cash flows (used in) provided by financing activities | (174.7) | (202.5) | 238.7 |
Exchange rate effect on cash and cash equivalents and restricted cash | (24.7) | 28 | 21.1 |
Decrease (increase) in cash held for sale | 10.2 | (5.4) | (2.2) |
Increase in cash and cash equivalents | 771.4 | 194.4 | 217.3 |
Cash and cash equivalents and restricted cash at end of period | 1,640.5 | 869.1 | 674.7 |
Interest paid | 53.5 | 53.4 | 38 |
Income taxes paid | $ 122.9 | $ 168.3 | $ 230.1 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Feb. 02, 2019 | |
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, multichannel video game and consumer electronics retailer. We operate over 5,800 stores across 14 countries. Our consumer product network also includes www.gamestop.com; Game Informer® magazine, the world's leading print and digital video game publication; and ThinkGeek, www.thinkgeek.com, the premier retailer for the global geek community featuring exclusive and unique video game and pop culture products, and Simply Mac, which sells the full line of Apple products, including laptops, tablets, and smartphones and offers Apple certified warranty and repair services. We operate our business in four geographic segments: United States, Canada, Australia and Europe. Our former Technology Brands segment had been comprised of Spring Mobile, Simply Mac and Cricket Wireless branded stores ("Cricket Wireless"). Cricket Wireless was sold in January 2018, and Spring Mobile was sold in January 2019. Simply Mac and the historical results of Cricket Wireless are reported in the United States segment in these consolidated financial statements and accompanying notes. The historical results of Spring Mobile, including the gain on sale, are reported as discontinued operations in our consolidated statements of operations for all periods presented. See Note 2, "Discontinued Operations and Dispositions," for further information. The consolidated statement of cash flows is presented on a combined basis for all periods presented and, therefore, does not segregate cash flows from continuing and discontinued operations. The information contained in these notes to our consolidated financial statements refers to continuing operations unless otherwise noted. Our largest vendors in our video game brands business are Nintendo, Sony, Microsoft, Take-Two Interactive and Activision Blizzard, which accounted for 23% , 22% , 10% , 6% and 4% , respectively, of our new product purchases in fiscal year 2018 ; 22% , 20% , 10% , 4% and 6% , respectively, in fiscal year 2017 ; and 10% , 24% , 14% , 5% and 6% , respectively, in fiscal year 2016 . 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 2018 consisted of the 52 weeks ended on February 2, 2019 ("fiscal 2018 "). 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 "). Subsequent to the issuance of our consolidated financial statements included in our fiscal 2017 Annual Report on Form 10-K, we determined that certain previously disclosed amounts associated with supplemental cash flow information and segment information were incorrect. As a result, the interest paid amounts for fiscal 2017 and 2016, disclosed in the supplemental cash flow information section of our consolidated statements of cash flows, have been increased by $39.4 million and $14.7 million , respectively, to their correct amounts of $53.4 million and $38.0 million , respectively. The misstatements did not affect the previously reported cash flows from operating, investing or financing activities for fiscal 2017 and 2016, or the beginning or ending cash and cash equivalents balances previously reported for fiscal 2017 and 2016. Within Note 16, "Segment Information," total assets of the United States segment for fiscal 2017 have been increased by $1,925.8 million with a corresponding decrease to the total assets of the Europe segment to correct an error related to the consideration of intercompany balances in the computation of total assets by segment. The corrected total assets amount, as of February 3, 2018, for the United States of $2,919.0 million includes retrospective adjustments for deferred tax assets formerly associated with Spring Mobile and the total assets of Simply Mac. The corrected total assets amount, as of February 3, 2018, for Europe is $ 817.7 million . The misstatement did not affect the other reportable segments and did not affect any consolidated amounts. We evaluated the materiality of these misstatements from quantitative and qualitative perspectives and concluded that they were not material to the previously issued consolidated financial statements included in our fiscal 2017 Annual Report on Form 10-K. 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 a remaining 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 prepaid expenses and other current assets and other noncurrent assets in our consolidated balance sheets. Our restricted cash was $16.1 million and $14.9 million as of February 2, 2019 and February 3, 2018 , 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 2, 2019 and February 3, 2018 were $69.4 million and $56.1 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 (generally ranging from one to ten years), including option periods in which the exercise of the option is reasonably assured. 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 $96.7 million , $110.1 million and $123.3 million for fiscal 2018 , 2017 and 2016 , 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 $2.1 million , $2.8 million and $5.2 million in fiscal 2018 , 2017 and 2016 , respectively. See Note 4, "Asset Impairments," for further information regarding our asset impairment charges. 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 four operating segments—United States, Canada, Australia and Europe, which also define our reporting units based upon the similar economic characteristics of operations within each segment, including the nature of products, product distribution, 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 totaling $970.7 million were recognized in fiscal 2018 . See Note 7, "Goodwill and Intangible Assets" for additional information. No goodwill impairment charges related to our continuing operations were recognized in fiscal 2017 and 2016 . Our indefinite-lived intangible assets consist of trade names and dealer agreements. 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 2018 , 2017 and 2016 annual impairment testing, we recognized impairment charges totaling $43.1 million , $11.0 million and $14.4 million , respectively, primarily associated with our dealer agreements and trade names. See Note 7, "Goodwill and Intangible Assets" for additional information. 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 the life of the asset. Revenue Recognition We adopted Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (ASC Topic 606) , effective February 4, 2018 (the first day of fiscal 2018) utilizing the modified retrospective transition approach. Our revenue recognition policy discussed below is subsequent to the adoption of ASU 2014-09. See “—Recently Adopted Accounting Pronouncements” for information regarding our revenue recognition policy prior to the adoption of ASU 2014-09. We recognize revenue when performance obligations are satisfied by transferring goods or services to the customer in an amount that we expect to collect in exchange for those goods or services. The satisfaction of a performance obligation with a single customer may occur at a point in time or may occur over time. The significant majority of our revenue is recognized at a point in time, generally when a customer purchases and takes possession of merchandise through our stores or when merchandise purchased through our e-commerce websites is delivered to a customer. We have arrangements with customers where our performance obligations are satisfied over time, which primarily relate to extended warranties and our Game Informer magazine. In arrangements where we have multiple performance obligations, the transaction price is allocated to each performance obligation based on their relative stand-alone selling price (see "—Loyalty Program"). Revenue is recognized net of sales discounts and net of an estimated sales return reserve. Our sales return policy is generally limited to 30 days or less and as such our sales returns are, and historically have been, immaterial. Revenues do not include sales taxes or other taxes collected from customers. 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. 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. Loyalty Program Our loyalty program accounting policy discussed below is subsequent to the adoption of ASU 2014-09. See “—Recently Adopted Accounting Pronouncements” for information regarding our loyalty program accounting policy prior to the adoption of ASU 2014-09. Our PowerUp Rewards loyalty program allows members to earn points on purchases that can be redeemed for rewards that include discounts or merchandise. When loyalty program members purchase our product, we allocate the transaction price between the product and loyalty points earned based on the relative stand-alone selling prices and expected point redemption. The portion allocated to the loyalty points is initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration. The two primary estimates utilized to record the deferred revenue for loyalty points earned by members are the estimated retail price per point and estimated breakage. The estimated retail price per point is based on the actual historical retail prices of product purchased through the redemption of loyalty points. We estimate breakage of loyalty points based on historical redemption rates. We continually evaluate our methodology and assumptions based on developments in retail price per point redeemed, redemption patterns and other factors. Changes in the retail price per point and redemption rates have the effect of either increasing or decreasing the deferred revenue liability through current period revenue by an amount estimated to represent the retail value of all points previously earned but not yet redeemed by loyalty program members as of the end of the reporting period. 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. Customer Liabilities Our customer liabilities accounting policy discussed below is subsequent to the adoption of ASU 2014-09. See “—Recently Adopted Accounting Pronouncements” for information regarding our customer liabilities accounting policy prior to the adoption of ASU 2014-09. 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, we recognize breakage in revenue upon redemption and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. To the extent that future redemption patterns differ from those historically experienced, there will be variations in the recorded breakage. 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 $143.4 million , $162.5 million and $184.3 million were recorded as a reduction of cost of sales for fiscal 2018 , 2017 and 2016 , respectively. Cost of Sales and Selling, General and Administrative Expenses Classification The classification of cost of sales and selling, general and administrative expenses ("SG&A") varies across the retail industry. We include certain purchasing, receiving and distribution costs in SG&A 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 2018 , 2017 and 2016 totaled $72.9 million , $82.8 million and $76.3 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. In accordance with GAAP, 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 8, "Income Taxes," for additional information. We plan on indefinitely reinvesting our unremitted foreign earnings outside the United States. Where foreign earnings are indefinitely reinvested, no provision for federal income or foreign withholding taxes is made. Should we have unremitted foreign earnings that are not indefinitely 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 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. In February 2016, the FASB issued an update to current lease accounting standards; see "—Recent Accounting Pronouncements" for additional information. 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. Currency translation adjustments related to divested foreign businesses are reclassified into earnings as a component of SG&A in our consolidated statements of operations once the liquidation of the respective foreign businesses is substantially complete. Net gains from foreign currency transactions and derivatives are included in selling, general and administrative expenses and were $3.0 million , $2.4 million and $4.5 million in fiscal 2018 , 2017 and 2016 , 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 5, "Fair Value Measurements and Financial Instruments," for additional information regarding our foreign currency contracts. Recently Adopted Accounting Pronouncements 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 FASB also issued ASU 2016-18, Restricted Cash, in November 2016 that requires entities to include restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts presented in the statement of cash flows. These updated standards are effective for fiscal years beginning after December 15, 2017, including interim periods within those years, with early adoption permitted. We adopted these new standards on a retrospective basis, which did not result in a material impact to our consolidated financial statements. As required by ASU 2016-18, we include restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts presented on our condensed consolidated statement of cash flows. The following table provides a reconciliation of cash and cash equivalents in the condensed consolidated balance sheets to total cash and cash equivalents and restricted cash in the condensed consolidated statements of cash flows (in millions): February 2, February 3, January 28, Cash and cash equivalents $ 1,624.4 $ 854.2 $ 664.5 Restricted cash (included in prepaid expenses and other current assets) 2.7 — — Restricted cash (included in other noncurrent assets) 13.4 14.9 10.2 Total cash and cash equivalents and restricted cash in the statements of cash flows $ 1,640.5 $ 869.1 $ 674.7 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 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. We adopted the new revenue standard, effective February 4, 2018, by utilizing the modified retrospective transition approach. The new revenue standard primarily impacted the accounting of our PowerUp Rewards loyalty program and the recognition of breakage associated with our gift cards liability. For our loyalty program, we previously estimated the net cost of the rewards that were issued and recorded this cost (presented as cost of sales) and the associated balance sheet liability as points were accumulated by our loyalty program members. Under the new standard, the transaction price is allocated between the product(s) and loyalty points earned based on the relative stand-alone selling prices and expected point redemption. The portion allocated to the loyalty points is initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration. For our gift cards liability, estimated breakage on unused gift cards and merchandise credit liabilities was previously recognized on a quarterly basis (recorded to cost of sales) to the extent that we believed the likelihood of redemption was remote, generally for balances older than two years. Under the new standard, we recognize breakage in revenue upon redemption and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. In addition, the new revenue standard requires presentation of our sales return reserve to be on a gross basis, consisting of a separate right of return asset and liability. Consistent with the modified retrospective transition approach, we have applied the new revenue standard on a prospective basis, effective February 4, 2018, and recorded adjustments to our current period opening balance sheet (as of February 4, 2018) to reflect the cumulative effect of the new revenue standard. The cumulative-effect adjustment included a reduction of our gift card and customer deposit liabilities of $44.3 million , an increase to our loyalty program liabilities of $28.2 million and an increase to our retained earnings of $16.1 million ( $11.5 million , net of tax). The cumulative-effect adjustment also included a $4.4 million increase to merchandise inventories, net and accrued liabilities to present our sales return reserve on a gross basis. The adoption of the new standard resulted in expanded revenue recognition disclosures which are included below in Note 3, “Revenue.” The impact of the new revenue standard to our statements of operations for fiscal 2018 is as follows (in millions): Fiscal Year 2018 Under Prior Standard Impact of New Standard As Reported Net sales $ 8,240.7 $ 44.6 $ 8,285.3 Cost of sales 5,937.1 40.1 5,977.2 Gross profit 2,303.6 4.5 2,308.1 Operating (loss) earnings from continuing operations (706.5 ) 4.5 (702.0 ) (Loss) earnings from continuing operations before income taxes (757.6 ) 4.5 (753.1 ) Income tax expense 40.5 1.2 41.7 Net (loss) income from continuing operations (798.1 ) 3.3 (794.8 ) The impact of the new revenue standard to our balance sheet as of February 2, 2019 is as follows (in millions): February 2, 2019 Under Prior Standard Impact of New Standard As Reported Merchandise inventories, net $ 1,246.1 $ 4.4 $ 1,250.5 Total current assets 3,123.3 4.4 3,127.7 Deferred income taxes 151.9 (4.6 ) 147.3 Total noncurrent assets 921.2 (4.6 ) 916.6 Total assets 4,044.5 (0.2 ) 4,044.3 Accrued liabilities 769.0 (16.2 ) 752.8 Income taxes payable 26.0 1.2 27.2 Total current liabilities 2,196.1 (15.0 ) 2,181.1 Total liabilities 2,723.1 (15.0 ) 2,708.1 Retained earnings 1,347.9 14.8 1,362.7 Total stockholders' equity 1,321.4 14.8 1,336.2 Total liabilities and stockholders' equity 4,044.5 (0.2 ) 4,044.3 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 program |
Discontinued Operations and Dis
Discontinued Operations and Dispositions Discontinued Operations and Dispositions (Notes) | 12 Months Ended |
Feb. 02, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 2. Discontinued Operations and Dispositions Discontinued Operations On January 16, 2019, we completed the sale of all of the equity interest in our wholly-owned subsidiary Spring Communications Holding, Inc. ("Spring Mobile") to Prime Acquisition Company, LLC, a wholly-owned subsidiary of Prime Communications, L.P., pursuant to an Equity Purchase Agreement dated as of November 21, 2018. The net cash proceeds received from the sale totaled $727.9 million , which is subject to customary post-closing adjustments. The net proceeds received consisted of the purchase price of $700.0 million less $10.5 million of transaction costs, plus preliminary adjustments totaling $38.4 million for working capital and indebtedness. We recognized a gain on sale of $100.8 million ( $65.4 million , net of tax) during fiscal 2018. Except for customary post-closing adjustments and transition services, we have no contingencies or continuing involvement with Spring Mobile subsequent to the completion of the sale. The historical results of Spring Mobile, including the gain on sale, are reported as discontinued operations in our consolidated statements of operations for all periods presented. The consolidated statement of cash flows is presented on a combined basis for all periods presented, therefore, does not segregate cash flows from continuing and discontinued operations. The results of our discontinued operations for fiscal 2018, 2017 and 2016 are as follows (in millions): Fiscal Year 2018 2017 2016 Net sales $ 565.4 $ 677.5 $ 642.9 Cost of sales 73.1 122.3 133.5 Gross profit 492.3 555.2 509.4 Selling, general and administrative expenses 395.9 453.4 390.7 Depreciation and amortization 20.1 28.4 28.5 Goodwill impairments — 32.8 — Asset impairments — 344.2 14.2 Operating earnings (loss) 76.3 (303.6 ) 76.0 Gain on sale of discontinued operations 100.8 — — Earnings (loss) from discontinued operations before income taxes 177.1 (303.6 ) 76.0 Income tax expense (benefit) 55.3 (107.9 ) 27.3 Net income (loss) from discontinued operations $ 121.8 $ (195.7 ) $ 48.7 The major classes of assets and liabilities held for sale associated with Spring Mobile are as follows (in millions): February 3, 2018 Assets: Cash and cash equivalents $ 10.2 Receivables, net 44.1 Merchandise inventories, net 116.4 Prepaid expenses and other current assets 9.7 Property and equipment, net 82.2 Goodwill 316.8 Other intangible assets, net 77.0 Other assets 3.7 Total assets held for sale $ 660.1 Liabilities: Accounts payable $ 9.7 Accrued liabilities 26.0 Other liabilities 15.2 Total liabilities held for sale $ 50.9 The following table presents capital expenditures, depreciation and amortization and other significant operating noncash items of our discontinued operations for fiscal 2018, 2017 and 2016 (in millions): Fiscal Year 2018 2017 2016 Capital expenditures $ 7.5 $ 22.2 $ 36.9 Depreciation and amortization 20.1 28.4 28.5 Goodwill and asset impairments — 377.0 14.2 Provision for inventory reserves 12.7 12.9 17.6 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. |
Revenue (Notes)
Revenue (Notes) | 12 Months Ended |
Feb. 02, 2019 | |
Text Block [Abstract] | |
Revenue from Contract with Customer [Text Block] | 3. Revenue Net sales by significant product category for the periods indicated is as follows (in millions): Fiscal Year 2018 2017 2016 New video game hardware (1) $ 1,767.8 $ 1,791.8 $ 1,396.7 New video game software 2,449.7 2,582.0 2,493.4 Pre-owned and value video game products 1,866.3 2,149.6 2,254.1 Video game accessories 956.5 784.3 676.7 Digital 194.0 189.2 181.0 Collectibles 707.5 636.2 494.1 Other (2) 343.5 414.0 469.0 Total $ 8,285.3 $ 8,547.1 $ 7,965.0 _____________________________________________ (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 Simply Mac and Cricket Wireless branded stores. We sold our Cricket Wireless branded stores in January 2018. Also 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. See Note 16, "Segment Information," for net sales by geographic location. Performance Obligations Effective February 4, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers, which set forth a new revenue recognition model that replaced the prior revenue recognition guidance in its entirety (see Note 1 above). The core principle of the new standard is that revenue is recognized when performance obligations are satisfied by transferring goods or services to the customer in an amount that the entity expects to collect in exchange for those goods or services. The satisfaction of a performance obligation with a single customer may occur at a point in time or may occur over time. The significant majority of our revenue is recognized at a point in time, generally when a customer purchases and takes possession of merchandise through our stores or when merchandise purchased through our e-commerce websites is delivered to a customer. We have arrangements with customers where our performance obligations are satisfied over time, which primarily relate to extended warranties and our Game Informer magazine. Revenues do not include sales taxes or other taxes collected from customers. We expect to recognize revenue in future periods for remaining performance obligations we have associated with unredeemed gift cards, trade-in credits, reservation deposits and our PowerUp Rewards loyalty program (collectively, “unredeemed customer liabilities”), extended warranties and subscriptions to our Game Informer magazine. Performance obligations associated with unredeemed customer liabilities are primarily satisfied at the time our customers redeem their gift cards, trade-in credits, reservation deposits or loyalty program points for products that we offer. Unredeemed customer liabilities are generally redeemed within one year of issuance. As of February 2, 2019 , our unredeemed customer liabilities totaled $262.0 million . We offer extended warranties on certain new and pre-owned video game products with terms generally ranging from 12 to 24 months, depending on the product. Revenues for extended warranties sold are recognized on a straight-line basis over the life of the contract. As of February 2, 2019 , our deferred revenue liability related to extended warranties totaled $70.4 million . Performance obligations associated with subscriptions to our Game Informer magazine are satisfied when monthly magazines are delivered in print form or when made available in digital format. The significant majority of our customers’ subscriptions is for 12 monthly issues. As of February 2, 2019 , we had deferred revenue of $44.5 million associated with our Game Informer magazine. Significant Judgments and Estimates We accrue PowerUp Rewards loyalty points at the estimated retail price per point, net of estimated breakage, which can be redeemed by our loyalty program members for products that we offer. The estimated retail price per point is based on the actual historical retail prices of product(s) purchased through the redemption of loyalty points. We estimate breakage of loyalty points and unredeemed gift cards based on historical redemption rates . Contract Balances Our contract liabilities primarily consist of unredeemed customer liabilities and deferred revenues associated with extended warranties and subscriptions to our Game Informer magazine. The opening balance, current period changes and ending balance of our contract liabilities are as follows (in millions): Contract Liabilities Balance at February 3, 2018 $ 426.0 Adoption of ASU 2014-09 (16.8 ) Increase to contract liabilities (1) 1,238.1 Decrease to contract liabilities (2) (1,262.9 ) Other adjustments (3) (7.5 ) Balance at February 2, 2019 $ 376.9 __________________________________________ (1) Includes issuances of gift cards, trade-in credits and loyalty points, new reservation deposits, new subscriptions to Game Informer and extended warranties sold. (2) Includes redemptions of gift cards, trade-in credits, loyalty points and reservation deposits as well as revenues recognized for Game Informer and extended warranties. During the 52 weeks ended February 2, 2019 , there were $65.8 million of gift cards redeemed that were outstanding as of February 3, 2018 . (3) Primarily includes foreign currency translation adjustments. |
Asset Impairments
Asset Impairments | 12 Months Ended |
Feb. 02, 2019 | |
Text Block [Abstract] | |
Asset Impairments and Restructuring Charges | 4. Asset Impairments A summary of our asset impairment charges, by reportable segment, for fiscal 2018 , 2017 and 2016 is as follows (in millions): United States Canada Australia Europe Total Fiscal 2018 Intangible asset impairment charges $ 11.2 $ — $ — $ 31.9 $ 43.1 Store and other asset impairment charges 1.3 — 0.2 0.6 2.1 Total $ 12.5 $ — $ 0.2 $ 32.5 $ 45.2 Fiscal 2017 Intangible asset impairment charges $ 11.0 $ — $ — $ — $ 11.0 Store and other asset impairment charges 1.3 — 0.3 1.2 2.8 Total $ 12.3 $ — $ 0.3 $ 1.2 $ 13.8 Fiscal 2016 Intangible asset impairment charges $ 7.0 $ — $ — $ 7.4 $ 14.4 Store and other asset impairment charges 2.7 0.2 — 2.3 5.2 Total $ 9.7 $ 0.2 $ — $ 9.7 $ 19.6 See Note 7, "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. |
Fair Value Measurements and Fin
Fair Value Measurements and Financial Instruments | 12 Months Ended |
Feb. 02, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Financial Instruments | 5. 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, certain nonqualified deferred compensation liabilities and contingent consideration payable associated with acquisitions. 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. Our contingent consideration payable related to an acquisition completed by Spring Mobile during fiscal 2016. The contingent consideration was paid in two installments, with one payment occurring in each of the fiscal years 2017 and 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 2, 2019 February 3, 2018 Level 2 Level 3 Level 2 Level 3 Assets: Foreign currency contracts (1) $ 1.0 $ — $ 2.4 $ — Company-owned life insurance (2) 14.6 — 13.9 — Total assets $ 15.6 $ — $ 16.3 $ — Liabilities: Foreign currency contracts (3) $ 1.2 $ — $ 9.9 $ — Nonqualified deferred compensation (3) 1.1 — 1.2 — Contingent consideration (3) — — — 12.2 Total liabilities $ 2.3 $ — $ 11.1 $ 12.2 ___________________ (1) Recognized in prepaid expenses and other current assets in our consolidated balance sheets. (2) Recognized in other non-current assets in our consolidated balance sheets. (3) Recognized in accrued liabilities in our consolidated balance sheets. 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 $240.0 million and $563.3 million as of February 2, 2019 and February 3, 2018 , 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 2018 2017 2016 Gains (losses) on the changes in fair value of derivative instruments $ 9.6 $ (24.6 ) $ 20.0 (Losses) gains on the re-measurement of related intercompany loans and foreign currency assets and liabilities (6.6 ) 27.0 (15.5 ) Net gains $ 3.0 $ 2.4 $ 4.5 We do not use derivative financial instruments for trading or speculative purposes. We are exposed to counterparty credit risk on all of our derivative financial instruments and cash equivalent investments. We manage counterparty risk according to the guidelines and controls established under comprehensive risk management and investment policies. We continuously monitor our counterparty credit risk and utilize a number of different counterparties to minimize our exposure to potential defaults. We do not require collateral under derivative or investment agreements. Assets that are Measured at Fair Value on a Nonrecurring Basis Assets that are measured at fair value on a nonrecurring basis relate primarily to property and equipment 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 2018, we recognized impairment charges totaling $43.1 million related to intangible assets. We recognized impairment charges of $31.9 million and $5.3 million associated with our Micromania and ThinkGeek trade names, respectively, to reflect their fair values of $6.0 million and $2.8 million , respectively. We also recognized an impairment charge of $5.9 million associated with other ThinkGeek intangible assets, to reflect their fair values of zero. In fiscal 2017 and 2016, we recognized impairment charges of $11.0 million and $7.0 million , respectively, associated with our Simply Mac Apple dealer agreement to reflect its fair value of zero and $11.0 million , respectively. 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 2018, 2017 and 2016, we recognized impairment charges of $2.1 million , $2.8 million and $5.2 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, customer relationship intangible assets 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 2, 2019 , our unsecured 5.50% senior notes due in 2019 had a net carrying value of $349.2 million and a fair value of $350.8 million , and our unsecured 6.75% senior notes due in 2021 had a net carrying value of $471.6 million and a fair value of $478.1 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. 02, 2019 | |
Receivables [Abstract] | |
Receivables, Net | 6. Receivables, Net Receivables consisted of the following (in millions): February 2, 2019 February 3, 2018 Bankcard receivables $ 44.6 $ 49.2 Vendor and other receivables (1) 93.6 97.1 Allowance for doubtful accounts (4.0 ) (7.7 ) Total receivables, net $ 134.2 $ 138.6 ___________________________ (1) Vendor receivables primarily relate to vendor allowances. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Feb. 02, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill, Intangible Assets and Deferred Financing Fees | 7. Goodwill and Intangible Assets Goodwill The changes in the carrying amount of goodwill, by reportable segment, for fiscal 2017 and 2018 were as follows (in millions): United States Canada Australia Europe Technology Brands Total Balance at January 28, 2017—as reported $ 1,199.7 $ 28.6 $ 70.1 $ 74.8 $ 352.0 $ 1,725.2 Transfers (1) 2.4 — — — (352.0 ) (349.6 ) Balance at January 28, 2017—after transfers 1,202.1 28.6 70.1 74.8 — 1,375.6 Divestitures (Note 2) (42.6 ) — — — — (42.6 ) Foreign currency translation adjustment — 1.7 3.5 12.3 — 17.5 Balance at February 3, 2018 1,159.5 30.3 73.6 87.1 — 1,350.5 Foreign currency translation adjustment — (1.5 ) (7.2 ) (7.2 ) — (15.9 ) Impairment charge (795.6 ) (28.8 ) (66.4 ) (79.9 ) — (970.7 ) Balance at February 2, 2019 $ 363.9 $ — $ — $ — $ — $ 363.9 ___________________ (1) As a result of the divestiture of Spring Mobile, which was completed in January 2019, we allocated the goodwill balance associated with our former Technology Brands segment for the earliest period presented to Spring Mobile, Simply Mac and Cricket Wireless based on their relative fair values. Simply Mac and the historical results of Cricket Wireless are included in the United States segment. We allocated $349.6 million of goodwill to Spring Mobile which was impaired by $32.8 million during fiscal 2017. As of February 3, 2018, goodwill of $316.8 million related to Spring Mobile is included in assets held for sale in our consolidated balance sheets. We perform an impairment test of goodwill on an annual basis during the fourth quarter or when circumstances indicate that the carrying value of goodwill might be impaired (see Note 1, "Nature of Operations and Summary of Significant Accounting Policies"). During the third quarter of fiscal 2018, we determined that a triggering event occurred as a result of a sustained decline in our market capitalization; therefore, we performed an interim impairment test for all of our reporting units and indefinite-lived intangible assets. As a result of the interim impairment testing, we recognized goodwill impairment charges totaling $557.3 million . During our annual impairment test in the fourth quarter of fiscal 2018, we determined that an additional triggering event occurred upon the announcement that our Board of Directors terminated efforts to pursue a sale of the Company, which resulted in a further decline in our market capitalization, and downward revisions to our forecasted cash flows. As a result of our impairment testing in the fourth quarter of fiscal 2018, we recognized additional goodwill impairment charges of $413.4 million . Goodwill impairment charges in fiscal 2018 totaled $970.7 million . No goodwill impairment charges related to continuing operations were recognized in fiscal 2017 and 2016 . Cumulative goodwill impairment charges were $1,611.2 million as of February 2, 2019 , of which $809.1 million , $129.1 million , $173.5 million , and $499.5 million were attributable to our United States, Canada, Australia, and Europe segments, respectively. Intangible Assets The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of February 2, 2019 and February 3, 2018 were as follows (in millions): February 2, 2019 February 3, 2018 Gross Carrying Amount(1) Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets with indefinite lives: Trade names $ 8.8 $ — $ 8.8 $ 49.3 $ — $ 49.3 Intangible assets with finite lives: Leasehold rights 91.8 (67.3 ) 24.5 100.4 (67.0 ) 33.4 Customer relationships — — — 14.5 (6.8 ) 7.7 Other 32.5 (32.3 ) 0.2 33.5 (31.4 ) 2.1 Total $ 133.1 $ (99.6 ) $ 33.5 $ 197.7 $ (105.2 ) $ 92.5 ___________________ (1) The change in the gross carrying amount of intangible assets from February 3, 2018 to February 2, 2019 is due to impairments (see Note 4, "Asset Impairments") and the impact of exchange rate fluctuations. Indefinite-lived Intangible Assets 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 on an annual basis during the fourth quarter or when circumstances indicate the carrying value might be impaired. We generally perform impairment testing on our indefinite-lived intangible assets in conjunction with the impairment testing on our carrying value of goodwill. 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. As a result of impairment tests performed during fiscal 2018, we recognized impairment charges of $31.9 million and $5.3 million related to our Micromania trade name and ThinkGeek trade name, respectively. The impairment charges were primarily the result of increases in discount rate assumptions and downward revisions to our forecasted cash flows, consistent with those utilized in the valuation of our Video Game Brands segments for goodwill impairment testing. Simply Mac maintains exclusive agreements with Apple to sell their products in Simply Mac branded stores. We previously maintained a dealer agreement intangible asset balance associated with our Simply Mac business, which was fully impaired by $11.0 million during fiscal 2017 to reflect its fair value of zero . The impairment of Simply Mac’s Apple dealer agreements was the result of 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. As the result of lower-than-expected profitability of our ThinkGeek website and our recent decision to exit the ThinkGeek wholesale business, we fully impaired the remaining carrying value of $5.9 million associated with our customer relationships intangible assets during fiscal 2018. 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 2, 2019 , the total weighted-average amortization period for our finite-lived intangible assets was approximately 9.9 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 2018 , 2017 and 2016 was $10.1 million , $13.4 million and $15.0 million , respectively. The estimated aggregate intangible asset amortization expense for the next five fiscal years is as follows (in millions): Period Projected Amortization Expense Fiscal 2019 $ 5.5 Fiscal 2020 4.5 Fiscal 2021 3.7 Fiscal 2022 3.2 Fiscal 2023 2.6 |
Income Taxes
Income Taxes | 12 Months Ended |
Feb. 02, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 8. Income Taxes The provision for income taxes consisted of the following (in millions): Fiscal Year 2018 2017 2016 Current tax expense: Federal $ 45.0 $ 104.7 $ 122.2 State 12.8 14.2 9.6 Foreign 38.5 28.5 29.2 96.3 147.4 161.0 Deferred tax (benefit) expense: Federal (36.0 ) 23.4 (3.1 ) State (4.0 ) (1.3 ) (0.1 ) Foreign (14.6 ) (16.0 ) (33.6 ) (54.6 ) 6.1 (36.8 ) Total income tax expense $ 41.7 $ 153.5 $ 124.2 The components of (loss) earnings before income tax expense consisted of the following (in millions): Fiscal Year 2018 2017 2016 United States $ (543.4 ) $ 310.7 $ 370.8 International (209.7 ) 73.2 57.9 Total $ (753.1 ) $ 383.9 $ 428.7 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 2018 2017 2016 Federal statutory tax rate (1) 21.0 % 33.7 % 35.0 % State income taxes, net of federal effect (0.9 ) 3.0 1.4 Foreign income tax rate differential 2.8 (1.1 ) (1.1 ) Change in valuation allowance — (1.1 ) 4.8 Change in unrecognized tax benefits 0.2 (1.5 ) 2.7 Transition tax 3.0 2.7 — Tax reform — 8.3 — Realization of losses in foreign operations not previously benefited (2) — — (9.8 ) Loss on investment in foreign subsidiary — — (3.8 ) Intercompany sale of intangible assets — (3.4 ) — Foreign tax credit 0.1 (2.5 ) (0.1 ) Withholding tax expense (0.3 ) 2.3 0.2 Impairment of goodwill (25.6 ) 0.1 — Nondeductible interest (4.2 ) 0.5 0.6 Other (including permanent differences) (3) (1.6 ) (1.0 ) (0.9 ) (5.5 )% 40.0 % 29.0 % ___________________ (1) Per IRC Section 15, we have incorporated a statutory rate of 21.0% for our year end current provision ending February 2, 2019. (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 1.05% of loss before income taxes for fiscal 2018, 1.69% of earnings before income taxes for fiscal 2017, and 1.75% of earnings before income taxes for fiscal 2016. 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 came 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. As of February 2, 2019 we have completed our accounting for the impacts of the Tax Act and as a result there was a net decrease of $22.7 million to the 2017 provisional amounts recorded for the one-time transition tax. Furthermore, changes in net expense related to revaluation of deferred tax assets and liabilities resulting from the new lower corporate tax rate were immaterial. Under U.S. GAAP we are allowed to make an accounting policy choice to either: (1) treat taxes due on future GILTI inclusions in U.S. taxable income 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”). After further evaluation in the current year, we have elected to account for GILTI as a period cost in the year the tax is incurred. Accordingly, no GILTI-related deferred amounts were recorded. 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). February 2, 2019 February 3, 2018 Deferred tax asset: Inventory $ 14.7 $ 16.8 Deferred rents 3.9 6.9 Stock-based compensation 1.8 9.2 Net operating losses 78.5 86.2 Customer liabilities 18.6 16.6 Property and equipment 11.3 13.6 Credits 18.2 9.5 Accrued compensation 12.1 12.9 Intangible assets 21.8 63.2 Other 13.1 12.9 Total deferred tax assets 194.0 247.8 Valuation allowance (32.9 ) (36.9 ) Total deferred tax assets, net 161.1 210.9 Deferred tax liabilities: Goodwill (10.2 ) (49.9 ) Prepaid expenses (3.6 ) (4.5 ) Other (0.1 ) (3.3 ) Total deferred tax liabilities (13.9 ) (57.7 ) Net deferred tax assets $ 147.2 $ 153.2 The above amounts are reflected in the consolidated financial statements as: Deferred income taxes - assets $ 147.3 $ 158.2 Deferred income taxes - liabilities $ (0.1 ) $ (5.0 ) 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. Certain of our French subsidiaries had 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 . Based on the nature of the tax deductions being challenged, collection notices through fiscal year 2018 were anticipated. During fiscal 2018, we settled this matter with the FTA and as a result recognized charges totaling $30.3 million in income tax expense. The final settlement covers fiscal years 2008 through 2018. As of February 2, 2019 , we have approximately $25.2 million of net operating loss ("NOL") carryforwards in various foreign jurisdictions that expire in years 2019 through 2035 (primarily related to Puerto Rico), as well as $222.5 million of foreign NOL carryforwards that have no expiration date. In addition, we have approximately $19.8 million of foreign tax credit carryforwards that expire in years 2024 through 2027 . We also have approximately $65.1 million of Federal NOL carryovers acquired through the ThinkGeek acquisition that will expire in years 2020 through 2035 . As of February 2, 2019 , the gross amount of unrecognized tax benefits was approximately $22.5 million . If we were to prevail on all uncertain tax positions, the net effect would be a benefit to our effective tax rate of approximately $19.6 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 2018 2017 2016 Beginning balance of unrecognized tax benefits $ 24.9 $ 42.1 $ 31.9 Increases related to current period tax positions 1.1 1.0 3.5 Increases related to prior period tax positions 35.5 11.2 7.9 Reductions as a result of a lapse of the applicable statute of limitations (0.6 ) (1.3 ) (0.2 ) Reductions as a result of settlements with taxing authorities (38.4 ) (28.1 ) (1.0 ) Ending balance of unrecognized tax benefits $ 22.5 $ 24.9 $ 42.1 We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense. As of February 2, 2019 , February 3, 2018 and January 28, 2017 , we had approximately $5.4 million , $6.9 million and $7.2 million , respectively, in interest and penalties related to unrecognized tax benefit accrued, of which approximately $1.5 million of benefit, $0.3 million of expense and $2.3 million of expense were recognized through income tax expense in fiscal 2018 , 2017 and 2016 . 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 2, 2019 . Prior to enactment of the Tax Act, the Company asserted that all unremitted earnings of its foreign subsidiaries were considered indefinitely reinvested. As a result of the Tax Act, the Company reported and paid U.S. tax on the majority of its previously unremitted foreign earnings. As of February 2, 2019 , the Company continues to be indefinitely reinvested with respect to investments in its foreign subsidiaries. As of February 2, 2019 , the Company has not recorded approximately $38.9 million of deferred tax liabilities associated with remaining unremitted earnings considered indefinitely reinvested, primarily associated with foreign withholding taxes that would be due upon remittance. |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Feb. 02, 2019 | |
Payables and Accruals [Abstract] | |
Accrued Liabilities | 9. Accrued Liabilities Accrued liabilities consisted of the following (in millions): February 2, 2019 February 3, 2018 Customer-related liabilities $ 268.7 $ 302.2 Deferred revenue 124.2 132.4 Employee benefits, compensation and related taxes 140.7 152.2 Checks and transfers yet to be presented for payment from zero balance cash accounts 82.7 176.4 Other taxes 45.5 63.4 Other accrued liabilities (1) 91.0 123.5 Total accrued liabilities $ 752.8 $ 950.1 ___________________ (1) Includes acquisition-related contingent consideration of $12.2 million as of February 3, 2018 . See Note 5, "Fair Value Measurements and Financial Instruments" for additional information. |
Debt
Debt | 12 Months Ended |
Feb. 02, 2019 | |
Debt Disclosure [Abstract] | |
Debt | 10. Debt Senior Notes The carrying value of our long-term debt is comprised as follows (in millions): February 2, 2019 February 3, 2018 2019 Senior Notes principal amount $ 350.0 $ 350.0 2021 Senior Notes principal amount 475.0 475.0 Less: Unamortized debt financing costs (4.2 ) (7.1 ) 820.8 817.9 Less: Current portion (349.2 ) — Long-term debt, net $ 471.6 $ 817.9 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. As of February 2, 2019 , the 2019 Senior Notes, net of unamortized debt financing costs, are classified as current in our consolidated balance sheet. 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 United States 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. On March 4, 2019, we issued a notice of redemption to redeem all of our $350.0 million unsecured senior notes due October 2019. The redemption date will be April 4, 2019 and the redemption price will be equal to $1,000 per $1,000 principal amount of the 2019 Senior Notes, representing 100.0% of the aggregate principal amount being redeemed, plus accrued but unpaid interest. We expect to use cash on hand for the redemption of the 2019 Senior Notes. 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 are not registered under the Securities Act. The 2021 Senior Notes were offered in the United States 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 We maintain an asset-based revolving credit facility (the “Revolver”) with a borrowing base capacity of $420 million and a maturity date of November 2022. The Revolver has a $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 range from 0.25% to 0.50% and, for the London Interbank Offered ("LIBO") rate loans, range from 1.25% to 1.50% . The Revolver is secured by substantially all of our assets and the assets of our domestic subsidiaries. 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, 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 Revolver by an amount equal to the face value of the letters of credit. Our ability to pay cash dividends, redeem options and repurchase shares is generally permitted, except under certain circumstances, including if either (1) excess availability under the Revolver is less than 20% , or is projected to be within six months after such payment or (2) excess availability under the 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 Revolver is at any time less than the greater of (1) $30 million or (2) 10% of the lesser of the total commitment or the borrowing base, we will be subject to a fixed charge coverage ratio covenant of 1.0 :1.0. The Revolver places certain restrictions on us and our subsidiaries, including limitations on asset sales, additional liens, investments, loans, guarantees, acquisitions and the incurrence of additional indebtedness. Absent consent from our lenders, we may not incur more than $1 billion of senior secured debt and $750 million of additional unsecured indebtedness to be limited to $250 million in general unsecured obligations and $500 million in unsecured obligations to finance acquisitions valued at $500 million or more. The per annum interest rate under the Revolver is variable and is calculated by applying a margin (1) for prime rate loans of 0.25% to 0.50% above the highest of (a) the prime rate of the administrative agent, (b) the federal funds effective rate plus 0.50% and (c) the 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 Revolver. As of February 2, 2019 , the applicable margin was 0.25% for prime rate loans and 1.25% for LIBO rate loans. The Revolver provides for customary events of default with corresponding grace periods, including failure to pay any principal or interest when due, failure to comply with covenants, any material representation or warranty made by us or the borrowers proving to be false in any material respect, certain bankruptcy, insolvency or receivership events affecting us or our subsidiaries, defaults relating to certain other indebtedness, imposition of certain judgments and mergers or the liquidation of the Company or certain of its subsidiaries. During fiscal 2018 , we cumulatively borrowed $154.0 million and repaid $154.0 million under our revolving credit facility. Average daily borrowings under the facility for fiscal 2018 were $7.5 million and our average interest rate on those borrowings was 3.9% . As of February 2, 2019 , total availability under the Revolver was $385.1 million , with no outstanding borrowings and outstanding standby letters of credit of $7.2 million . We are currently in compliance with the financial requirements of the Revolver. On December 10, 2018, we entered into a third amendment to our Revolver in which the lenders consented to the sale of Spring Mobile, which closed in January 2019. Luxembourg Line of Credit In September 2007, our Luxembourg subsidiary entered into a discretionary $20.0 million Uncommitted Line of Credit (the “Line of Credit”) with Bank of America. There is no term associated with the Line of Credit and Bank of America may withdraw the facility at any time without notice. The Line of Credit is available to our foreign subsidiaries for use primarily as a bank overdraft facility for short-term liquidity needs and for the issuance of bank guarantees and letters of credit to support operations. As of February 2, 2019 , there were no cash overdrafts outstanding under the Line of Credit and bank guarantees outstanding totaled $9.4 million . |
Leases
Leases | 12 Months Ended |
Feb. 02, 2019 | |
Leases [Abstract] | |
Leases | 11. Leases We lease retail stores, warehouse facilities, office space and equipment. These are generally leased under noncancelable agreements that expire at various dates 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 2018 2017 2016 Minimum $ 350.5 $ 357.0 $ 355.9 Percentage rentals 7.1 8.3 6.5 Total rent expense $ 357.6 $ 365.3 $ 362.4 Future minimum annual rentals, including reasonably assured options, required under leases that had initial, noncancelable lease terms greater than one year, as of February 2, 2019 , are as follows (in millions): Period Fiscal 2019 $ 296.2 Fiscal 2020 208.7 Fiscal 2021 149.1 Fiscal 2022 105.4 Fiscal 2023 71.4 Thereafter 116.2 $ 947.0 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Feb. 02, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 12. Commitments and Contingencies Commitments We had bank guarantees relating primarily to international store leases and other commercial commitments totaling $24.1 million and $25.5 million as of February 2, 2019 and February 3, 2018 , respectively. See Note 11, "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 had 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 . Based on the nature of the tax deductions being challenged, collection notices through fiscal year 2018 were anticipated. During fiscal 2018, we settled this matter with the FTA and as a result recognized charges totaling $30.3 million in income tax expense. The final settlement covers fiscal years 2008 through 2018. |
Common Stock and Share-Based Co
Common Stock and Share-Based Compensation | 12 Months Ended |
Feb. 02, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Incentive Plan | 13. 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 approved several share repurchase authorizations allowing our management to repurchase our Class A Common Stock. 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. On March 4, 2019, our Board of Directors approved a new $300.0 million share repurchase authorization to replace the previous share authorization, which had $170.2 million remaining. We did not repurchase shares during fiscal 2018 or fiscal 2017. The following table summarizes our share repurchase activity during fiscal 2016 (in millions, except average price paid per share): Fiscal Year 2016 Total number of shares purchased 3.0 Average price per share $ 24.94 Aggregate value of shares purchased $ 75.1 Dividends. We paid $1.52 , $1.52 and $1.48 per share in dividends in fiscal 2018 , 2017 and 2016 , respectively. On March 4, 2019 , our Board of Directors declared a quarterly cash dividend of $0.38 per share of Class A Common Stock which was paid on March 29, 2019 . 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 awards may be granted and provides for the 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. There were no options granted during fiscal 2018 , 2017 and 2016 . As of February 2, 2019 , outstanding and exercisable options had a range of exercise prices from $20.32 to $38.52 , with a weighted-average remaining life of 3.36 years. A summary of our stock option activity during fiscal 2018 is presented below: Options Weighted- Average Exercise Price Balance, February 3, 2018 1,194,025 $ 35.30 Expired (594,770 ) $ 41.84 Balance, February 2, 2019 599,255 $ 28.81 There were no options exercised during fiscal 2018. The total intrinsic value of options exercised during fiscal 2017 and 2016 was $0.1 million and $0.1 million , respectively. There was no intrinsic value of both options exercisable and options outstanding, as of February 2, 2019 . 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. There was no compensation expense during fiscal 2018 related to options. During fiscal 2017 and 2016 , we included compensation expense relating to the grant of options in the amount of $0.1 million and $0.9 million , respectively, in selling, general and administrative expenses. As of February 2, 2019 , 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 2018 : Time-Based Restricted Stock Awards Performance-Based Restricted Stock Awards Shares Weighted- Shares Weighted- Average Grant Date Fair Value Nonvested shares at February 3, 2018 912,360 $ 27.96 553,189 $ 28.83 Granted 969,043 $ 15.67 257,667 $ 15.80 Vested (791,891 ) $ 25.66 (298,454 ) $ 30.49 Forfeited (282,484 ) $ 19.86 (225,095 ) $ 22.56 Nonvested shares at February 2, 2019 807,028 $ 18.30 287,307 $ 20.33 In fiscal 2017 and 2016, we granted 596,412 and 602,414 shares, respectively, of time-based restricted stock with weighted-average grant date fair values of $24.94 and $30.18 , respectively. We also granted 287,670 and 206,580 shares, respectively, of performance-based restricted stock with weighted-average grant date fair values of $25.28 and $30.54 , respectively. During fiscal 2018 , 2017 and 2016 , we included compensation expense relating to the grants of restricted shares in the amounts of $10.7 million , $25.5 million and $16.9 million , respectively, in selling, general and administrative expenses in the accompanying consolidated statements of operations. The fiscal 2018 , 2017 and 2016 compensation expense associated with the restricted shares is net of adjustments totaling $5.1 million , $2.9 million and $5.9 million , respectively, relating to performance measures that were not fully met. As of February 2, 2019 , there was $7.5 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 income tax expense (benefit), inclusive of excess tax deficiencies, associated with stock-based compensation was $4.1 million , $4.2 million and $10.3 million for fiscal 2018 , 2017 and 2016 , respectively. The total fair value of restricted stock awards vested, as of their respective vesting dates, was $16.2 million , $12.5 million , and $27.6 million during fiscal 2018 , 2017 and 2016 . |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Feb. 02, 2019 | |
Earnings Per Share [Abstract] | |
Computation of Net Income (Loss) per Common Share | 14. 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 2018 2017 2016 Net (loss) income from continuing operations $ (794.8 ) $ 230.4 $ 304.5 Income (loss) from discontinued operations, net of tax 121.8 (195.7 ) 48.7 Net (loss) income $ (673.0 ) $ 34.7 $ 353.2 Weighted-average common shares outstanding 102.1 101.4 103.4 Dilutive effect of stock options and restricted stock awards — 0.1 0.4 Weighted-average diluted common shares 102.1 101.5 103.8 Basic (loss) earnings per share: (1) Continuing operations $ (7.79 ) $ 2.27 $ 2.94 Discontinued operations 1.19 (1.93 ) 0.47 Basic (loss) earnings per share $ (6.59 ) $ 0.34 $ 3.42 Diluted (loss) earnings per share: (1) Continuing operations $ (7.79 ) $ 2.27 $ 2.93 Discontinued operations 1.19 (1.93 ) 0.47 Diluted (loss) earnings per share $ (6.59 ) $ 0.34 $ 3.40 Anti-dilutive stock options and restricted stock awards 1.7 2.0 1.4 ___________________ (1) The sum of (loss) earnings per share may not total to consolidated (loss) earnings per common share as amounts are calculated based on whole numbers. |
Employees' Defined Contribution
Employees' Defined Contribution Plan | 12 Months Ended |
Feb. 02, 2019 | |
Text Block [Abstract] | |
Employees' Defined Contribution Plan | 15. 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 2018 , 2017 and 2016 , were $6.1 million , $5.9 million and $5.9 million , respectively. |
Segment Information
Segment Information | 12 Months Ended |
Feb. 02, 2019 | |
Segment Reporting [Abstract] | |
Segment Information | 16. Segment Information We operate our business in four geographic segments: United States, Canada, Australia and Europe. Our former Technology Brands segment had been comprised of Spring Mobile, Simply Mac and Cricket Wireless. Cricket Wireless was sold in January 2018 and Spring Mobile was sold in January 2019. Simply Mac and the historical results of Cricket Wireless is included in the United States segment for all periods presented. The historical results of Spring Mobile, including the gain on sale, is reported as discontinued operations and is excluded from our segment results for all periods presented. 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, Our segments also include stand-alone collectibles stores. Segment results for the United States include retail operations in 50 states and Guam; our e-commerce websites www.gamestop.com and www.thinkgeek.com; Game Informer magazine; Simply Mac; Kongregate, a web and mobile gaming platform which we sold in July 2017; and Cricket Wireless, which we sold in January 2018. The United States segment also includes general and administrative expenses related to our corporate headquarters in Grapevine, Texas. 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. 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 2018 , 2017 and 2016 . Segment information for fiscal 2018, 2017 and 2016 is as follows (in millions): United States Canada Australia Europe Total As of and for the Fiscal Year Ended February 2, 2019 Net sales $ 5,800.2 $ 434.5 $ 645.4 $ 1,405.2 $ 8,285.3 Operating loss (533.9 ) (19.3 ) (46.5 ) (102.3 ) (702.0 ) Depreciation and amortization 67.1 3.7 9.8 25.0 105.6 Goodwill impairments 795.6 28.8 66.4 79.9 970.7 Asset impairments 12.5 — 0.2 32.5 45.2 Capital expenditures 51.5 4.4 10.5 19.8 86.2 Property and equipment, net 188.7 17.1 40.6 74.9 321.3 Total segment assets 2,889.5 144.4 301.2 709.2 4,044.3 As of and for the Fiscal Year Ended February 3, 2018 Net sales $ 5,876.0 $ 434.9 $ 702.2 $ 1,534.0 $ 8,547.1 Operating earnings 332.8 18.5 34.9 53.0 439.2 Depreciation and amortization 81.6 3.9 10.4 26.4 122.3 Asset impairments 12.3 — 0.3 1.2 13.8 Capital expenditures 61.5 4.3 10.1 15.3 91.2 Property and equipment, net 207.6 17.4 44.2 81.8 351.0 Total segment assets (1) 2,919.0 187.3 457.5 817.7 4,381.5 As of and for the Fiscal Year Ended January 28, 2017 Net sales $ 5,660.0 $ 382.0 $ 609.5 $ 1,313.5 $ 7,965.0 Operating earnings 398.4 22.4 34.9 26.0 481.7 Depreciation and amortization 98.5 3.8 9.4 25.0 136.7 Asset impairments 9.7 0.2 — 9.7 19.6 Capital expenditures 63.6 1.3 15.1 25.8 105.8 Property and equipment, net 226.9 16.1 43.4 76.9 363.3 Total segment assets 2,628.7 271.6 434.6 567.9 3,902.8 ___________________ (1) The total segment assets for the United States and Europe as of fiscal year ended February 3, 2018, have been revised to correct an error. See Note 1, "Nature of Operations and Summary of Significant Accounting Policies," for additional information. A reconciliation of the total capital expenditures of our reportable segments to the total capital expenditures presented in our consolidated statement of cash flows is as follows (in millions): Fiscal Year 2018 2017 2016 Total segment capital expenditures $ 86.2 $ 91.2 $ 105.8 Discontinued operations 7.5 22.2 36.9 Total capital expenditures $ 93.7 $ 113.4 $ 142.7 A reconciliation of the total assets of our reportable segments to the total assets presented in our consolidated balance sheets is as follows (in millions): February 2, 2019 February 3, 2018 Total segment assets $ 4,044.3 $ 4,381.5 Assets held for sale — 660.1 Consolidated total assets $ 4,044.3 $ 5,041.6 |
Unaudited Quarterly Financial I
Unaudited Quarterly Financial Information | 12 Months Ended |
Feb. 02, 2019 | |
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 2, 2019 and February 3, 2018 (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 2018 Fiscal Year 2017 1st Quarter 2nd Quarter 3rd Quarter (2) 4th (2) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter (2) Net sales (1) $ 1,785.8 $ 1,501.1 $ 1,935.4 $ 3,063.0 $ 1,874.0 $ 1,529.5 $ 1,827.6 $ 3,316.0 Gross profit (1) 531.1 470.0 558.2 748.8 567.2 493.2 559.8 864.7 Operating earnings (loss) (1) 46.5 1.5 (517.9 ) (232.1 ) 89.3 26.9 71.9 251.1 Net income (loss) from continuing operations 20.4 (39.8 ) (506.9 ) (268.5 ) 51.8 12.0 49.7 116.9 Income (loss) from discontinued operations, net of tax 7.8 14.9 18.3 80.8 7.2 10.2 9.7 (222.8 ) Net (loss) income 28.2 (24.9 ) (488.6 ) (187.7 ) 59.0 22.2 59.4 (105.9 ) Basic earnings (loss) per share: (3) (4) Continuing operations $ 0.20 $ (0.39 ) $ (4.96 ) $ (2.63 ) $ 0.51 $ 0.12 $ 0.49 $ 1.15 Discontinued operations 0.08 0.15 0.18 0.79 0.07 0.10 0.10 (2.20 ) Basic earnings (loss) per share $ 0.28 $ (0.24 ) $ (4.78 ) $ (1.84 ) $ 0.58 $ 0.22 $ 0.59 $ (1.04 ) Diluted earnings (loss) per share: (3) (4) Continuing operations $ 0.20 $ (0.39 ) $ (4.96 ) $ (2.63 ) $ 0.51 $ 0.12 $ 0.49 $ 1.15 Discontinued operations 0.08 0.15 0.18 0.79 0.07 0.10 0.10 (2.19 ) Diluted earnings (loss) per share $ 0.28 $ (0.24 ) $ (4.78 ) $ (1.84 ) $ 0.58 $ 0.22 $ 0.59 $ (1.04 ) Dividend declared per common share $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.38 ___________________ (1) Net sales, gross profit and operating earnings (loss) differ from the amounts previously reported in our Quarterly Reports on Form 10-Q as a result of our former Spring Mobile business being classified as discontinued operations for all periods presented. See Note 2, "Discontinued Operations and Dispositions," for additional information. (2) The results of operations for the fourth quarter of fiscal 2018 include goodwill and asset impairment charges totaling $428.4 million on a pre-tax basis. The results of operations for the third quarter of fiscal 2018 include goodwill and asset impairment charges totaling $587.5 million on a pre-tax basis. The results of operations for the fourth quarter of fiscal 2017 include goodwill and asset impairment charges totaling $13.8 million on a pre-tax basis. (3) The sum of the quarters may not necessarily be equal to the full year (loss) earnings per common share amount. (4) The sum of (loss) earnings per share may not total to consolidated (loss) earnings per common share as amounts are calculated based on whole numbers. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Feb. 02, 2019 | |
Accounting Policies [Abstract] | |
Nature of Operations [Text Block] | The Company GameStop Corp. (“GameStop,” “we,” “us,” “our,” or the “Company”) is a global, multichannel video game and consumer electronics retailer. We operate over 5,800 stores across 14 countries. Our consumer product network also includes www.gamestop.com; Game Informer® magazine, the world's leading print and digital video game publication; and ThinkGeek, www.thinkgeek.com, the premier retailer for the global geek community featuring exclusive and unique video game and pop culture products, and Simply Mac, which sells the full line of Apple products, including laptops, tablets, and smartphones and offers Apple certified warranty and repair services. We operate our business in four geographic segments: United States, Canada, Australia and Europe. Our former Technology Brands segment had been comprised of Spring Mobile, Simply Mac and Cricket Wireless branded stores ("Cricket Wireless"). Cricket Wireless was sold in January 2018, and Spring Mobile was sold in January 2019. Simply Mac and the historical results of Cricket Wireless are reported in the United States segment in these consolidated financial statements and accompanying notes. The historical results of Spring Mobile, including the gain on sale, are reported as discontinued operations in our consolidated statements of operations for all periods presented. See Note 2, "Discontinued Operations and Dispositions," for further information. The consolidated statement of cash flows is presented on a combined basis for all periods presented and, therefore, does not segregate cash flows from continuing and discontinued operations. The information contained in these notes to our consolidated financial statements refers to continuing operations unless otherwise noted. |
Concentration Risk Disclosure [Text Block] | Our largest vendors in our video game brands business are Nintendo, Sony, Microsoft, Take-Two Interactive and Activision Blizzard, which accounted for 23% , 22% , 10% , 6% and 4% , respectively, of our new product purchases in fiscal year 2018 ; 22% , 20% , 10% , 4% and 6% , respectively, in fiscal year 2017 ; and 10% , 24% , 14% , 5% and 6% , respectively, in fiscal year 2016 . |
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 2018 consisted of the 52 weeks ended on February 2, 2019 ("fiscal 2018 "). 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 "). Subsequent to the issuance of our consolidated financial statements included in our fiscal 2017 Annual Report on Form 10-K, we determined that certain previously disclosed amounts associated with supplemental cash flow information and segment information were incorrect. As a result, the interest paid amounts for fiscal 2017 and 2016, disclosed in the supplemental cash flow information section of our consolidated statements of cash flows, have been increased by $39.4 million and $14.7 million , respectively, to their correct amounts of $53.4 million and $38.0 million , respectively. The misstatements did not affect the previously reported cash flows from operating, investing or financing activities for fiscal 2017 and 2016, or the beginning or ending cash and cash equivalents balances previously reported for fiscal 2017 and 2016. Within Note 16, "Segment Information," total assets of the United States segment for fiscal 2017 have been increased by $1,925.8 million with a corresponding decrease to the total assets of the Europe segment to correct an error related to the consideration of intercompany balances in the computation of total assets by segment. The corrected total assets amount, as of February 3, 2018, for the United States of $2,919.0 million includes retrospective adjustments for deferred tax assets formerly associated with Spring Mobile and the total assets of Simply Mac. The corrected total assets amount, as of February 3, 2018, for Europe is $ 817.7 million . The misstatement did not affect the other reportable segments and did not affect any consolidated amounts. We evaluated the materiality of these misstatements from quantitative and qualitative perspectives and concluded that they were not material to the previously issued consolidated financial statements included in our fiscal 2017 Annual Report on Form 10-K. |
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 a remaining 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 prepaid expenses and other current assets and other noncurrent assets in our consolidated balance sheets. Our restricted cash was $16.1 million and $14.9 million as of February 2, 2019 and February 3, 2018 , 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 2, 2019 and February 3, 2018 were $69.4 million and $56.1 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 (generally ranging from one to ten years), including option periods in which the exercise of the option is reasonably assured. 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 $96.7 million , $110.1 million and $123.3 million for fiscal 2018 , 2017 and 2016 , 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 $2.1 million , $2.8 million and $5.2 million in fiscal 2018 , 2017 and 2016 , respectively. See Note 4, "Asset Impairments," for further information regarding our asset impairment charges. |
Goodwill | Goodwill and Intangible Assets Goodwill represents the excess purchase price over tangible net assets and identifiable intangible assets acquired. Intangible assets are recorded apart from goodwill if they arise from a contractual right and are capable of being separated from the entity and sold, transferred, licensed, rented or exchanged individually. We are required to evaluate goodwill and other intangible assets not subject to amortization for impairment at least annually. This annual test is completed at the beginning of the fourth quarter of each fiscal year or when circumstances indicate the carrying value of the goodwill or other intangible assets might be impaired. Goodwill has been assigned to reporting units for the purpose of impairment testing. We have four operating segments—United States, Canada, Australia and Europe, which also define our reporting units based upon the similar economic characteristics of operations within each segment, including the nature of products, product distribution, 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 totaling $970.7 million were recognized in fiscal 2018 . See Note 7, "Goodwill and Intangible Assets" for additional information. No goodwill impairment charges related to our continuing operations were recognized in fiscal 2017 and 2016 . |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Our indefinite-lived intangible assets consist of trade names and dealer agreements. 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 2018 , 2017 and 2016 annual impairment testing, we recognized impairment charges totaling $43.1 million , $11.0 million and $14.4 million , respectively, primarily associated with our dealer agreements and trade names. See Note 7, "Goodwill and Intangible Assets" for additional information. 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 the life of the asset. |
Revenue Recognition | Revenue Recognition We adopted Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (ASC Topic 606) , effective February 4, 2018 (the first day of fiscal 2018) utilizing the modified retrospective transition approach. Our revenue recognition policy discussed below is subsequent to the adoption of ASU 2014-09. See “—Recently Adopted Accounting Pronouncements” for information regarding our revenue recognition policy prior to the adoption of ASU 2014-09. We recognize revenue when performance obligations are satisfied by transferring goods or services to the customer in an amount that we expect to collect in exchange for those goods or services. The satisfaction of a performance obligation with a single customer may occur at a point in time or may occur over time. The significant majority of our revenue is recognized at a point in time, generally when a customer purchases and takes possession of merchandise through our stores or when merchandise purchased through our e-commerce websites is delivered to a customer. We have arrangements with customers where our performance obligations are satisfied over time, which primarily relate to extended warranties and our Game Informer magazine. In arrangements where we have multiple performance obligations, the transaction price is allocated to each performance obligation based on their relative stand-alone selling price (see "—Loyalty Program"). Revenue is recognized net of sales discounts and net of an estimated sales return reserve. Our sales return policy is generally limited to 30 days or less and as such our sales returns are, and historically have been, immaterial. Revenues do not include sales taxes or other taxes collected from customers. 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. 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. |
Loyalty Expenses | Loyalty Program Our loyalty program accounting policy discussed below is subsequent to the adoption of ASU 2014-09. See “—Recently Adopted Accounting Pronouncements” for information regarding our loyalty program accounting policy prior to the adoption of ASU 2014-09. Our PowerUp Rewards loyalty program allows members to earn points on purchases that can be redeemed for rewards that include discounts or merchandise. When loyalty program members purchase our product, we allocate the transaction price between the product and loyalty points earned based on the relative stand-alone selling prices and expected point redemption. The portion allocated to the loyalty points is initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration. The two primary estimates utilized to record the deferred revenue for loyalty points earned by members are the estimated retail price per point and estimated breakage. The estimated retail price per point is based on the actual historical retail prices of product purchased through the redemption of loyalty points. We estimate breakage of loyalty points based on historical redemption rates. We continually evaluate our methodology and assumptions based on developments in retail price per point redeemed, redemption patterns and other factors. Changes in the retail price per point and redemption rates have the effect of either increasing or decreasing the deferred revenue liability through current period revenue by an amount estimated to represent the retail value of all points previously earned but not yet redeemed by loyalty program members as of the end of the reporting period. 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 |
Customer Liabilities | Customer Liabilities Our customer liabilities accounting policy discussed below is subsequent to the adoption of ASU 2014-09. See “—Recently Adopted Accounting Pronouncements” for information regarding our customer liabilities accounting policy prior to the adoption of ASU 2014-09. 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, we recognize breakage in revenue upon redemption and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. To the extent that future redemption patterns differ from those historically experienced, there will be variations in the recorded breakage. |
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 $143.4 million , $162.5 million and $184.3 million were recorded as a reduction of cost of sales for fiscal 2018 , 2017 and 2016 , respectively. |
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 ("SG&A") varies across the retail industry. We include certain purchasing, receiving and distribution costs in SG&A 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 2018 , 2017 and 2016 totaled $72.9 million , $82.8 million and $76.3 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. In accordance with GAAP, 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 8, "Income Taxes," for additional information. We plan on indefinitely reinvesting our unremitted foreign earnings outside the United States. Where foreign earnings are indefinitely reinvested, no provision for federal income or foreign withholding taxes is made. Should we have unremitted foreign earnings that are not indefinitely 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 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. Currency translation adjustments related to divested foreign businesses are reclassified into earnings as a component of SG&A in our consolidated statements of operations once the liquidation of the respective foreign businesses is substantially complete. Net gains from foreign currency transactions and derivatives are included in selling, general and administrative expenses and were $3.0 million , $2.4 million and $4.5 million in fiscal 2018 , 2017 and 2016 , 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 5, "Fair Value Measurements and Financial Instruments," for additional information regarding our foreign currency contracts. |
New Accounting Pronouncements | Recently Adopted Accounting Pronouncements 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 FASB also issued ASU 2016-18, Restricted Cash, in November 2016 that requires entities to include restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts presented in the statement of cash flows. These updated standards are effective for fiscal years beginning after December 15, 2017, including interim periods within those years, with early adoption permitted. We adopted these new standards on a retrospective basis, which did not result in a material impact to our consolidated financial statements. As required by ASU 2016-18, we include restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts presented on our condensed consolidated statement of cash flows. The following table provides a reconciliation of cash and cash equivalents in the condensed consolidated balance sheets to total cash and cash equivalents and restricted cash in the condensed consolidated statements of cash flows (in millions): February 2, February 3, January 28, Cash and cash equivalents $ 1,624.4 $ 854.2 $ 664.5 Restricted cash (included in prepaid expenses and other current assets) 2.7 — — Restricted cash (included in other noncurrent assets) 13.4 14.9 10.2 Total cash and cash equivalents and restricted cash in the statements of cash flows $ 1,640.5 $ 869.1 $ 674.7 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 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. We adopted the new revenue standard, effective February 4, 2018, by utilizing the modified retrospective transition approach. The new revenue standard primarily impacted the accounting of our PowerUp Rewards loyalty program and the recognition of breakage associated with our gift cards liability. For our loyalty program, we previously estimated the net cost of the rewards that were issued and recorded this cost (presented as cost of sales) and the associated balance sheet liability as points were accumulated by our loyalty program members. Under the new standard, the transaction price is allocated between the product(s) and loyalty points earned based on the relative stand-alone selling prices and expected point redemption. The portion allocated to the loyalty points is initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration. For our gift cards liability, estimated breakage on unused gift cards and merchandise credit liabilities was previously recognized on a quarterly basis (recorded to cost of sales) to the extent that we believed the likelihood of redemption was remote, generally for balances older than two years. Under the new standard, we recognize breakage in revenue upon redemption and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. In addition, the new revenue standard requires presentation of our sales return reserve to be on a gross basis, consisting of a separate right of return asset and liability. Consistent with the modified retrospective transition approach, we have applied the new revenue standard on a prospective basis, effective February 4, 2018, and recorded adjustments to our current period opening balance sheet (as of February 4, 2018) to reflect the cumulative effect of the new revenue standard. The cumulative-effect adjustment included a reduction of our gift card and customer deposit liabilities of $44.3 million , an increase to our loyalty program liabilities of $28.2 million and an increase to our retained earnings of $16.1 million ( $11.5 million , net of tax). The cumulative-effect adjustment also included a $4.4 million increase to merchandise inventories, net and accrued liabilities to present our sales return reserve on a gross basis. The adoption of the new standard resulted in expanded revenue recognition disclosures which are included below in Note 3, “Revenue.” The impact of the new revenue standard to our statements of operations for fiscal 2018 is as follows (in millions): Fiscal Year 2018 Under Prior Standard Impact of New Standard As Reported Net sales $ 8,240.7 $ 44.6 $ 8,285.3 Cost of sales 5,937.1 40.1 5,977.2 Gross profit 2,303.6 4.5 2,308.1 Operating (loss) earnings from continuing operations (706.5 ) 4.5 (702.0 ) (Loss) earnings from continuing operations before income taxes (757.6 ) 4.5 (753.1 ) Income tax expense 40.5 1.2 41.7 Net (loss) income from continuing operations (798.1 ) 3.3 (794.8 ) The impact of the new revenue standard to our balance sheet as of February 2, 2019 is as follows (in millions): February 2, 2019 Under Prior Standard Impact of New Standard As Reported Merchandise inventories, net $ 1,246.1 $ 4.4 $ 1,250.5 Total current assets 3,123.3 4.4 3,127.7 Deferred income taxes 151.9 (4.6 ) 147.3 Total noncurrent assets 921.2 (4.6 ) 916.6 Total assets 4,044.5 (0.2 ) 4,044.3 Accrued liabilities 769.0 (16.2 ) 752.8 Income taxes payable 26.0 1.2 27.2 Total current liabilities 2,196.1 (15.0 ) 2,181.1 Total liabilities 2,723.1 (15.0 ) 2,708.1 Retained earnings 1,347.9 14.8 1,362.7 Total stockholders' equity 1,321.4 14.8 1,336.2 Total liabilities and stockholders' equity 4,044.5 (0.2 ) 4,044.3 |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | 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. In October 2018, the FASB issued ASU 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes . This ASU expands the list of U.S. benchmark interest rates permitted in the application of hedge accounting. The provisions of ASU 2017-12 and ASU 2018-16 are effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We do not anticipate that adoption of these standards will have a material impact to our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases . This 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. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements , which provides clarifications and improvements to ASU 2016-02 including allowing entities to elect an additional transition method with which to adopt ASU 2016-02. The approved transition method enables entities to apply the transition requirements in this ASU at the effective date of ASU 2016-02 (rather than at the beginning of the earliest comparative period presented as currently required) with the effect of initially applying ASU 2016-02 recognized as a cumulative-effect adjustment to retained earnings in the period of adoption. Consequently, an entity’s reporting for the comparative periods presented in the year of adoption would continue to be in accordance with ASC 840, Leases (Topic 840) (“ASC 840”), including the disclosure requirements of ASC 840. These ASUs are effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We will adopt the new standard in the first quarter of fiscal 2019, using the modified-retrospective transition approach as outlined in ASU 2018-11, including certain practical expedients, with no restatement of comparative periods and a cumulative effect adjustment recognized on the date of adoption. Under this transition approach, we will apply the new lease standard, effective February 3, 2019, and record adjustments to our fiscal 2019 opening balance sheet (as of February 3, 2019) to reflect the cumulative effect of the new lease 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 2019. We continue to finalize our implementation efforts and currently estimate that the adoption of ASC 842 will result in recognition of an initial right-of-use asset and corresponding initial lease liability of approximately $850 million . We do not expect the adoption of the new lease standard to have a material impact to our consolidated statements of operations or statements of cash flows. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies Adoption of New Accounting Pronouncement (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
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 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 FASB also issued ASU 2016-18, Restricted Cash, in November 2016 that requires entities to include restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts presented in the statement of cash flows. These updated standards are effective for fiscal years beginning after December 15, 2017, including interim periods within those years, with early adoption permitted. We adopted these new standards on a retrospective basis, which did not result in a material impact to our consolidated financial statements. As required by ASU 2016-18, we include restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts presented on our condensed consolidated statement of cash flows. The following table provides a reconciliation of cash and cash equivalents in the condensed consolidated balance sheets to total cash and cash equivalents and restricted cash in the condensed consolidated statements of cash flows (in millions): February 2, February 3, January 28, Cash and cash equivalents $ 1,624.4 $ 854.2 $ 664.5 Restricted cash (included in prepaid expenses and other current assets) 2.7 — — Restricted cash (included in other noncurrent assets) 13.4 14.9 10.2 Total cash and cash equivalents and restricted cash in the statements of cash flows $ 1,640.5 $ 869.1 $ 674.7 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 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. We adopted the new revenue standard, effective February 4, 2018, by utilizing the modified retrospective transition approach. The new revenue standard primarily impacted the accounting of our PowerUp Rewards loyalty program and the recognition of breakage associated with our gift cards liability. For our loyalty program, we previously estimated the net cost of the rewards that were issued and recorded this cost (presented as cost of sales) and the associated balance sheet liability as points were accumulated by our loyalty program members. Under the new standard, the transaction price is allocated between the product(s) and loyalty points earned based on the relative stand-alone selling prices and expected point redemption. The portion allocated to the loyalty points is initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration. For our gift cards liability, estimated breakage on unused gift cards and merchandise credit liabilities was previously recognized on a quarterly basis (recorded to cost of sales) to the extent that we believed the likelihood of redemption was remote, generally for balances older than two years. Under the new standard, we recognize breakage in revenue upon redemption and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. In addition, the new revenue standard requires presentation of our sales return reserve to be on a gross basis, consisting of a separate right of return asset and liability. Consistent with the modified retrospective transition approach, we have applied the new revenue standard on a prospective basis, effective February 4, 2018, and recorded adjustments to our current period opening balance sheet (as of February 4, 2018) to reflect the cumulative effect of the new revenue standard. The cumulative-effect adjustment included a reduction of our gift card and customer deposit liabilities of $44.3 million , an increase to our loyalty program liabilities of $28.2 million and an increase to our retained earnings of $16.1 million ( $11.5 million , net of tax). The cumulative-effect adjustment also included a $4.4 million increase to merchandise inventories, net and accrued liabilities to present our sales return reserve on a gross basis. The adoption of the new standard resulted in expanded revenue recognition disclosures which are included below in Note 3, “Revenue.” The impact of the new revenue standard to our statements of operations for fiscal 2018 is as follows (in millions): Fiscal Year 2018 Under Prior Standard Impact of New Standard As Reported Net sales $ 8,240.7 $ 44.6 $ 8,285.3 Cost of sales 5,937.1 40.1 5,977.2 Gross profit 2,303.6 4.5 2,308.1 Operating (loss) earnings from continuing operations (706.5 ) 4.5 (702.0 ) (Loss) earnings from continuing operations before income taxes (757.6 ) 4.5 (753.1 ) Income tax expense 40.5 1.2 41.7 Net (loss) income from continuing operations (798.1 ) 3.3 (794.8 ) The impact of the new revenue standard to our balance sheet as of February 2, 2019 is as follows (in millions): February 2, 2019 Under Prior Standard Impact of New Standard As Reported Merchandise inventories, net $ 1,246.1 $ 4.4 $ 1,250.5 Total current assets 3,123.3 4.4 3,127.7 Deferred income taxes 151.9 (4.6 ) 147.3 Total noncurrent assets 921.2 (4.6 ) 916.6 Total assets 4,044.5 (0.2 ) 4,044.3 Accrued liabilities 769.0 (16.2 ) 752.8 Income taxes payable 26.0 1.2 27.2 Total current liabilities 2,196.1 (15.0 ) 2,181.1 Total liabilities 2,723.1 (15.0 ) 2,708.1 Retained earnings 1,347.9 14.8 1,362.7 Total stockholders' equity 1,321.4 14.8 1,336.2 Total liabilities and stockholders' equity 4,044.5 (0.2 ) 4,044.3 |
Discontinued Operations and D_2
Discontinued Operations and Dispositions (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Results of Discontinued Operations and Detail of Assets and Liabilities Held for Sale [Abstract] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table presents capital expenditures, depreciation and amortization and other significant operating noncash items of our discontinued operations for fiscal 2018, 2017 and 2016 (in millions): Fiscal Year 2018 2017 2016 Capital expenditures $ 7.5 $ 22.2 $ 36.9 Depreciation and amortization 20.1 28.4 28.5 Goodwill and asset impairments — 377.0 14.2 Provision for inventory reserves 12.7 12.9 17.6 Fiscal Year 2018 2017 2016 Net sales $ 565.4 $ 677.5 $ 642.9 Cost of sales 73.1 122.3 133.5 Gross profit 492.3 555.2 509.4 Selling, general and administrative expenses 395.9 453.4 390.7 Depreciation and amortization 20.1 28.4 28.5 Goodwill impairments — 32.8 — Asset impairments — 344.2 14.2 Operating earnings (loss) 76.3 (303.6 ) 76.0 Gain on sale of discontinued operations 100.8 — — Earnings (loss) from discontinued operations before income taxes 177.1 (303.6 ) 76.0 Income tax expense (benefit) 55.3 (107.9 ) 27.3 Net income (loss) from discontinued operations $ 121.8 $ (195.7 ) $ 48.7 The major classes of assets and liabilities held for sale associated with Spring Mobile are as follows (in millions): February 3, 2018 Assets: Cash and cash equivalents $ 10.2 Receivables, net 44.1 Merchandise inventories, net 116.4 Prepaid expenses and other current assets 9.7 Property and equipment, net 82.2 Goodwill 316.8 Other intangible assets, net 77.0 Other assets 3.7 Total assets held for sale $ 660.1 Liabilities: Accounts payable $ 9.7 Accrued liabilities 26.0 Other liabilities 15.2 Total liabilities held for sale $ 50.9 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Text Block [Abstract] | |
Disaggregation of Revenue [Table Text Block] | 3. Revenue Net sales by significant product category for the periods indicated is as follows (in millions): Fiscal Year 2018 2017 2016 New video game hardware (1) $ 1,767.8 $ 1,791.8 $ 1,396.7 New video game software 2,449.7 2,582.0 2,493.4 Pre-owned and value video game products 1,866.3 2,149.6 2,254.1 Video game accessories 956.5 784.3 676.7 Digital 194.0 189.2 181.0 Collectibles 707.5 636.2 494.1 Other (2) 343.5 414.0 469.0 Total $ 8,285.3 $ 8,547.1 $ 7,965.0 _____________________________________________ (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 Simply Mac and Cricket Wireless branded stores. We sold our Cricket Wireless branded stores in January 2018. Also 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. |
Deferred Revenue Disclosure [Text Block] | The opening balance, current period changes and ending balance of our contract liabilities are as follows (in millions): Contract Liabilities Balance at February 3, 2018 $ 426.0 Adoption of ASU 2014-09 (16.8 ) Increase to contract liabilities (1) 1,238.1 Decrease to contract liabilities (2) (1,262.9 ) Other adjustments (3) (7.5 ) Balance at February 2, 2019 $ 376.9 __________________________________________ (1) Includes issuances of gift cards, trade-in credits and loyalty points, new reservation deposits, new subscriptions to Game Informer and extended warranties sold. (2) Includes redemptions of gift cards, trade-in credits, loyalty points and reservation deposits as well as revenues recognized for Game Informer and extended warranties. During the 52 weeks ended February 2, 2019 , there were $65.8 million of gift cards redeemed that were outstanding as of February 3, 2018 . (3) Primarily includes foreign currency translation adjustments. |
Asset Impairments (Tables)
Asset Impairments (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Text Block [Abstract] | |
Schedule Of Asset Impairment | A summary of our asset impairment charges, by reportable segment, for fiscal 2018 , 2017 and 2016 is as follows (in millions): United States Canada Australia Europe Total Fiscal 2018 Intangible asset impairment charges $ 11.2 $ — $ — $ 31.9 $ 43.1 Store and other asset impairment charges 1.3 — 0.2 0.6 2.1 Total $ 12.5 $ — $ 0.2 $ 32.5 $ 45.2 Fiscal 2017 Intangible asset impairment charges $ 11.0 $ — $ — $ — $ 11.0 Store and other asset impairment charges 1.3 — 0.3 1.2 2.8 Total $ 12.3 $ — $ 0.3 $ 1.2 $ 13.8 Fiscal 2016 Intangible asset impairment charges $ 7.0 $ — $ — $ 7.4 $ 14.4 Store and other asset impairment charges 2.7 0.2 — 2.3 5.2 Total $ 9.7 $ 0.2 $ — $ 9.7 $ 19.6 |
Fair Value Measurements and F_2
Fair Value Measurements and Financial Instruments (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
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 2, 2019 February 3, 2018 Level 2 Level 3 Level 2 Level 3 Assets: Foreign currency contracts (1) $ 1.0 $ — $ 2.4 $ — Company-owned life insurance (2) 14.6 — 13.9 — Total assets $ 15.6 $ — $ 16.3 $ — Liabilities: Foreign currency contracts (3) $ 1.2 $ — $ 9.9 $ — Nonqualified deferred compensation (3) 1.1 — 1.2 — Contingent consideration (3) — — — 12.2 Total liabilities $ 2.3 $ — $ 11.1 $ 12.2 ___________________ (1) Recognized in prepaid expenses and other current assets in our consolidated balance sheets. (2) Recognized in other non-current assets in our consolidated balance sheets. (3) Recognized in accrued liabilities in our consolidated balance sheets. |
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 2018 2017 2016 Gains (losses) on the changes in fair value of derivative instruments $ 9.6 $ (24.6 ) $ 20.0 (Losses) gains on the re-measurement of related intercompany loans and foreign currency assets and liabilities (6.6 ) 27.0 (15.5 ) Net gains $ 3.0 $ 2.4 $ 4.5 |
Receivables, Net (Tables)
Receivables, Net (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Receivables [Abstract] | |
Receivables | Receivables consisted of the following (in millions): February 2, 2019 February 3, 2018 Bankcard receivables $ 44.6 $ 49.2 Vendor and other receivables (1) 93.6 97.1 Allowance for doubtful accounts (4.0 ) (7.7 ) Total receivables, net $ 134.2 $ 138.6 ___________________________ (1) Vendor receivables primarily relate to vendor allowances. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
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 2017 and 2018 were as follows (in millions): United States Canada Australia Europe Technology Brands Total Balance at January 28, 2017—as reported $ 1,199.7 $ 28.6 $ 70.1 $ 74.8 $ 352.0 $ 1,725.2 Transfers (1) 2.4 — — — (352.0 ) (349.6 ) Balance at January 28, 2017—after transfers 1,202.1 28.6 70.1 74.8 — 1,375.6 Divestitures (Note 2) (42.6 ) — — — — (42.6 ) Foreign currency translation adjustment — 1.7 3.5 12.3 — 17.5 Balance at February 3, 2018 1,159.5 30.3 73.6 87.1 — 1,350.5 Foreign currency translation adjustment — (1.5 ) (7.2 ) (7.2 ) — (15.9 ) Impairment charge (795.6 ) (28.8 ) (66.4 ) (79.9 ) — (970.7 ) Balance at February 2, 2019 $ 363.9 $ — $ — $ — $ — $ 363.9 ___________________ (1) As a result of the divestiture of Spring Mobile, which was completed in January 2019, we allocated the goodwill balance associated with our former Technology Brands segment for the earliest period presented to Spring Mobile, Simply Mac and Cricket Wireless based on their relative fair values. Simply Mac and the historical results of Cricket Wireless are included in the United States segment. We allocated $349.6 million of goodwill to Spring Mobile which was impaired by $32.8 million during fiscal 2017. As of February 3, 2018, goodwill of $316.8 million related to Spring Mobile is included in assets held for sale in our consolidated balance sheets. |
Schedule of Intangible Assets Other Than Goodwill | The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of February 2, 2019 and February 3, 2018 were as follows (in millions): February 2, 2019 February 3, 2018 Gross Carrying Amount(1) Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets with indefinite lives: Trade names $ 8.8 $ — $ 8.8 $ 49.3 $ — $ 49.3 Intangible assets with finite lives: Leasehold rights 91.8 (67.3 ) 24.5 100.4 (67.0 ) 33.4 Customer relationships — — — 14.5 (6.8 ) 7.7 Other 32.5 (32.3 ) 0.2 33.5 (31.4 ) 2.1 Total $ 133.1 $ (99.6 ) $ 33.5 $ 197.7 $ (105.2 ) $ 92.5 ___________________ (1) The change in the gross carrying amount of intangible assets from February 3, 2018 to February 2, 2019 is due to impairments (see Note 4, "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): Period Projected Amortization Expense Fiscal 2019 $ 5.5 Fiscal 2020 4.5 Fiscal 2021 3.7 Fiscal 2022 3.2 Fiscal 2023 2.6 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Tax | The provision for income taxes consisted of the following (in millions): Fiscal Year 2018 2017 2016 Current tax expense: Federal $ 45.0 $ 104.7 $ 122.2 State 12.8 14.2 9.6 Foreign 38.5 28.5 29.2 96.3 147.4 161.0 Deferred tax (benefit) expense: Federal (36.0 ) 23.4 (3.1 ) State (4.0 ) (1.3 ) (0.1 ) Foreign (14.6 ) (16.0 ) (33.6 ) (54.6 ) 6.1 (36.8 ) Total income tax expense $ 41.7 $ 153.5 $ 124.2 |
Components of Earnings Before Income Tax expense | The components of (loss) earnings before income tax expense consisted of the following (in millions): Fiscal Year 2018 2017 2016 United States $ (543.4 ) $ 310.7 $ 370.8 International (209.7 ) 73.2 57.9 Total $ (753.1 ) $ 383.9 $ 428.7 |
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 2018 2017 2016 Federal statutory tax rate (1) 21.0 % 33.7 % 35.0 % State income taxes, net of federal effect (0.9 ) 3.0 1.4 Foreign income tax rate differential 2.8 (1.1 ) (1.1 ) Change in valuation allowance — (1.1 ) 4.8 Change in unrecognized tax benefits 0.2 (1.5 ) 2.7 Transition tax 3.0 2.7 — Tax reform — 8.3 — Realization of losses in foreign operations not previously benefited (2) — — (9.8 ) Loss on investment in foreign subsidiary — — (3.8 ) Intercompany sale of intangible assets — (3.4 ) — Foreign tax credit 0.1 (2.5 ) (0.1 ) Withholding tax expense (0.3 ) 2.3 0.2 Impairment of goodwill (25.6 ) 0.1 — Nondeductible interest (4.2 ) 0.5 0.6 Other (including permanent differences) (3) (1.6 ) (1.0 ) (0.9 ) (5.5 )% 40.0 % 29.0 % ___________________ (1) Per IRC Section 15, we have incorporated a statutory rate of 21.0% for our year end current provision ending February 2, 2019. (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 1.05% of loss before income taxes for fiscal 2018, 1.69% of earnings before income taxes for fiscal 2017, and 1.75% of earnings before income taxes for fiscal 2016. |
Components of Deferred Tax Assets and Liabilities | 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). February 2, 2019 February 3, 2018 Deferred tax asset: Inventory $ 14.7 $ 16.8 Deferred rents 3.9 6.9 Stock-based compensation 1.8 9.2 Net operating losses 78.5 86.2 Customer liabilities 18.6 16.6 Property and equipment 11.3 13.6 Credits 18.2 9.5 Accrued compensation 12.1 12.9 Intangible assets 21.8 63.2 Other 13.1 12.9 Total deferred tax assets 194.0 247.8 Valuation allowance (32.9 ) (36.9 ) Total deferred tax assets, net 161.1 210.9 Deferred tax liabilities: Goodwill (10.2 ) (49.9 ) Prepaid expenses (3.6 ) (4.5 ) Other (0.1 ) (3.3 ) Total deferred tax liabilities (13.9 ) (57.7 ) Net deferred tax assets $ 147.2 $ 153.2 The above amounts are reflected in the consolidated financial statements as: Deferred income taxes - assets $ 147.3 $ 158.2 Deferred income taxes - liabilities $ (0.1 ) $ (5.0 ) |
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 2018 2017 2016 Beginning balance of unrecognized tax benefits $ 24.9 $ 42.1 $ 31.9 Increases related to current period tax positions 1.1 1.0 3.5 Increases related to prior period tax positions 35.5 11.2 7.9 Reductions as a result of a lapse of the applicable statute of limitations (0.6 ) (1.3 ) (0.2 ) Reductions as a result of settlements with taxing authorities (38.4 ) (28.1 ) (1.0 ) Ending balance of unrecognized tax benefits $ 22.5 $ 24.9 $ 42.1 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Payables and Accruals [Abstract] | |
Accrued Liabilities | Accrued liabilities consisted of the following (in millions): February 2, 2019 February 3, 2018 Customer-related liabilities $ 268.7 $ 302.2 Deferred revenue 124.2 132.4 Employee benefits, compensation and related taxes 140.7 152.2 Checks and transfers yet to be presented for payment from zero balance cash accounts 82.7 176.4 Other taxes 45.5 63.4 Other accrued liabilities (1) 91.0 123.5 Total accrued liabilities $ 752.8 $ 950.1 ___________________ (1) Includes acquisition-related contingent consideration of $12.2 million as of February 3, 2018 . See Note 5, "Fair Value Measurements and Financial Instruments" for additional information. |
Debt Debt (Tables)
Debt Debt (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | The carrying value of our long-term debt is comprised as follows (in millions): February 2, 2019 February 3, 2018 2019 Senior Notes principal amount $ 350.0 $ 350.0 2021 Senior Notes principal amount 475.0 475.0 Less: Unamortized debt financing costs (4.2 ) (7.1 ) 820.8 817.9 Less: Current portion (349.2 ) — Long-term debt, net $ 471.6 $ 817.9 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Leases [Abstract] | |
Approximate Rental Expenses Under Operating Leases | Rent expense under operating leases was as follows (in millions): Fiscal Year 2018 2017 2016 Minimum $ 350.5 $ 357.0 $ 355.9 Percentage rentals 7.1 8.3 6.5 Total rent expense $ 357.6 $ 365.3 $ 362.4 |
Future Minimum Annual Rentals, Excluding Percentage Rentals, Under Initial Noncancelable Lease Terms | Future minimum annual rentals, including reasonably assured options, required under leases that had initial, noncancelable lease terms greater than one year, as of February 2, 2019 , are as follows (in millions): Period Fiscal 2019 $ 296.2 Fiscal 2020 208.7 Fiscal 2021 149.1 Fiscal 2022 105.4 Fiscal 2023 71.4 Thereafter 116.2 $ 947.0 |
Common Stock and Share-Based _2
Common Stock and Share-Based Compensation (Tables) | 12 Months Ended | |
Feb. 02, 2019 | Jan. 28, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Class of Treasury Stock [Table Text Block] | We did not repurchase shares during fiscal 2018 or fiscal 2017. The following table summarizes our share repurchase activity during fiscal 2016 (in millions, except average price paid per share): Fiscal Year 2016 Total number of shares purchased 3.0 Average price per share $ 24.94 Aggregate value of shares purchased $ 75.1 | |
Summary of Status of Company's Stock Options | A summary of our stock option activity during fiscal 2018 is presented below: Options Weighted- Average Exercise Price Balance, February 3, 2018 1,194,025 $ 35.30 Expired (594,770 ) $ 41.84 Balance, February 2, 2019 599,255 $ 28.81 | |
Summary of Company's Restricted Stock Awards Activity | The following table presents a summary of our restricted stock awards activity during fiscal 2018 : Time-Based Restricted Stock Awards Performance-Based Restricted Stock Awards Shares Weighted- Shares Weighted- Average Grant Date Fair Value Nonvested shares at February 3, 2018 912,360 $ 27.96 553,189 $ 28.83 Granted 969,043 $ 15.67 257,667 $ 15.80 Vested (791,891 ) $ 25.66 (298,454 ) $ 30.49 Forfeited (282,484 ) $ 19.86 (225,095 ) $ 22.56 Nonvested shares at February 2, 2019 807,028 $ 18.30 287,307 $ 20.33 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
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 2018 2017 2016 Net (loss) income from continuing operations $ (794.8 ) $ 230.4 $ 304.5 Income (loss) from discontinued operations, net of tax 121.8 (195.7 ) 48.7 Net (loss) income $ (673.0 ) $ 34.7 $ 353.2 Weighted-average common shares outstanding 102.1 101.4 103.4 Dilutive effect of stock options and restricted stock awards — 0.1 0.4 Weighted-average diluted common shares 102.1 101.5 103.8 Basic (loss) earnings per share: (1) Continuing operations $ (7.79 ) $ 2.27 $ 2.94 Discontinued operations 1.19 (1.93 ) 0.47 Basic (loss) earnings per share $ (6.59 ) $ 0.34 $ 3.42 Diluted (loss) earnings per share: (1) Continuing operations $ (7.79 ) $ 2.27 $ 2.93 Discontinued operations 1.19 (1.93 ) 0.47 Diluted (loss) earnings per share $ (6.59 ) $ 0.34 $ 3.40 Anti-dilutive stock options and restricted stock awards 1.7 2.0 1.4 ___________________ (1) The sum of (loss) earnings per share may not total to consolidated (loss) earnings per common share as amounts are calculated based on whole numbers |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Segment Reporting [Abstract] | |
Information on Segments and Reconciliation to Earnings Before Income Taxes | Segment information for fiscal 2018, 2017 and 2016 is as follows (in millions): United States Canada Australia Europe Total As of and for the Fiscal Year Ended February 2, 2019 Net sales $ 5,800.2 $ 434.5 $ 645.4 $ 1,405.2 $ 8,285.3 Operating loss (533.9 ) (19.3 ) (46.5 ) (102.3 ) (702.0 ) Depreciation and amortization 67.1 3.7 9.8 25.0 105.6 Goodwill impairments 795.6 28.8 66.4 79.9 970.7 Asset impairments 12.5 — 0.2 32.5 45.2 Capital expenditures 51.5 4.4 10.5 19.8 86.2 Property and equipment, net 188.7 17.1 40.6 74.9 321.3 Total segment assets 2,889.5 144.4 301.2 709.2 4,044.3 As of and for the Fiscal Year Ended February 3, 2018 Net sales $ 5,876.0 $ 434.9 $ 702.2 $ 1,534.0 $ 8,547.1 Operating earnings 332.8 18.5 34.9 53.0 439.2 Depreciation and amortization 81.6 3.9 10.4 26.4 122.3 Asset impairments 12.3 — 0.3 1.2 13.8 Capital expenditures 61.5 4.3 10.1 15.3 91.2 Property and equipment, net 207.6 17.4 44.2 81.8 351.0 Total segment assets (1) 2,919.0 187.3 457.5 817.7 4,381.5 As of and for the Fiscal Year Ended January 28, 2017 Net sales $ 5,660.0 $ 382.0 $ 609.5 $ 1,313.5 $ 7,965.0 Operating earnings 398.4 22.4 34.9 26.0 481.7 Depreciation and amortization 98.5 3.8 9.4 25.0 136.7 Asset impairments 9.7 0.2 — 9.7 19.6 Capital expenditures 63.6 1.3 15.1 25.8 105.8 Property and equipment, net 226.9 16.1 43.4 76.9 363.3 Total segment assets 2,628.7 271.6 434.6 567.9 3,902.8 ___________________ (1) The total segment assets for the United States and Europe as of fiscal year ended February 3, 2018, have been revised to correct an error. See Note 1, "Nature of Operations and Summary of Significant Accounting Policies," for additional information. |
Unaudited Quarterly Financial_2
Unaudited Quarterly Financial Information (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
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 2, 2019 and February 3, 2018 (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 2018 Fiscal Year 2017 1st Quarter 2nd Quarter 3rd Quarter (2) 4th (2) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter (2) Net sales (1) $ 1,785.8 $ 1,501.1 $ 1,935.4 $ 3,063.0 $ 1,874.0 $ 1,529.5 $ 1,827.6 $ 3,316.0 Gross profit (1) 531.1 470.0 558.2 748.8 567.2 493.2 559.8 864.7 Operating earnings (loss) (1) 46.5 1.5 (517.9 ) (232.1 ) 89.3 26.9 71.9 251.1 Net income (loss) from continuing operations 20.4 (39.8 ) (506.9 ) (268.5 ) 51.8 12.0 49.7 116.9 Income (loss) from discontinued operations, net of tax 7.8 14.9 18.3 80.8 7.2 10.2 9.7 (222.8 ) Net (loss) income 28.2 (24.9 ) (488.6 ) (187.7 ) 59.0 22.2 59.4 (105.9 ) Basic earnings (loss) per share: (3) (4) Continuing operations $ 0.20 $ (0.39 ) $ (4.96 ) $ (2.63 ) $ 0.51 $ 0.12 $ 0.49 $ 1.15 Discontinued operations 0.08 0.15 0.18 0.79 0.07 0.10 0.10 (2.20 ) Basic earnings (loss) per share $ 0.28 $ (0.24 ) $ (4.78 ) $ (1.84 ) $ 0.58 $ 0.22 $ 0.59 $ (1.04 ) Diluted earnings (loss) per share: (3) (4) Continuing operations $ 0.20 $ (0.39 ) $ (4.96 ) $ (2.63 ) $ 0.51 $ 0.12 $ 0.49 $ 1.15 Discontinued operations 0.08 0.15 0.18 0.79 0.07 0.10 0.10 (2.19 ) Diluted earnings (loss) per share $ 0.28 $ (0.24 ) $ (4.78 ) $ (1.84 ) $ 0.58 $ 0.22 $ 0.59 $ (1.04 ) Dividend declared per common share $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.38 $ 0.38 ___________________ (1) Net sales, gross profit and operating earnings (loss) differ from the amounts previously reported in our Quarterly Reports on Form 10-Q as a result of our former Spring Mobile business being classified as discontinued operations for all periods presented. See Note 2, "Discontinued Operations and Dispositions," for additional information. (2) The results of operations for the fourth quarter of fiscal 2018 include goodwill and asset impairment charges totaling $428.4 million on a pre-tax basis. The results of operations for the third quarter of fiscal 2018 include goodwill and asset impairment charges totaling $587.5 million on a pre-tax basis. The results of operations for the fourth quarter of fiscal 2017 include goodwill and asset impairment charges totaling $13.8 million on a pre-tax basis. (3) The sum of the quarters may not necessarily be equal to the full year (loss) earnings per common share amount. (4) The sum of (loss) earnings per share may not total to consolidated (loss) earnings per common share as amounts are calculated based on whole numbers. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Feb. 02, 2019 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II — Valuation and Qualifying Accounts For the 52 weeks ended February 2, 2019 , 53 weeks ended February 3, 2018 and the 52 weeks ended January 28, 2017 : Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts- Accounts Payable (1) Deductions- Write-Offs Net of Recoveries (2) Balance at End of Period (In millions) Inventory Reserve (3) 52 Weeks Ended February 2, 2019 $ 59.2 $ 50.1 $ 46.7 $ (86.6 ) $ 69.4 53 Weeks Ended February 3, 2018 $ 59.0 $ 57.3 $ 50.7 $ (107.8 ) $ 59.2 52 Weeks Ended January 28, 2017 $ 61.5 $ 47.5 $ 49.6 $ (99.6 ) $ 59.0 Valuation Allowance for Deferred Tax Assets 52 Weeks Ended February 2, 2019 $ 36.9 $ — $ — $ (4.0 ) $ 32.9 53 Weeks Ended February 3, 2018 $ 39.4 $ 3.6 $ — $ (6.1 ) $ 36.9 52 Weeks Ended January 28, 2017 $ 18.8 $ 20.9 $ — $ (0.3 ) $ 39.4 ___________________ (1) Consists primarily of amounts received from vendors for defective allowances. (2) The 52 weeks ended February 2, 2019 includes the disposition of $3.6 million of Spring Mobile inventory reserves as of the date of the sale. (3) Includes inventory reserve activity related to Spring Mobile. Spring Mobile was sold in January 2019. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Cash paid during the period for: | |||
Interest | $ 53.5 | $ 53.4 | $ 38 |
Acquisitions: | |||
Payments to Acquire Businesses, Net of Cash Acquired | $ 0 | $ 8.5 | $ 441.2 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies Narrative (Detail) | Feb. 03, 2019USD ($) | Feb. 02, 2019USD ($) | Nov. 03, 2018USD ($) | Feb. 02, 2019USD ($) | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | ||
Significant Accounting Policies [Line Items] | ||||||||
Number of Stores | 5,800 | 5,800 | ||||||
Interest paid | $ 53,500,000 | $ 53,400,000 | $ 38,000,000 | |||||
Assets | $ 4,044,300,000 | 4,044,300,000 | 5,041,600,000 | |||||
Restricted Cash and Cash Equivalents | 16,100,000 | 16,100,000 | 14,900,000 | |||||
Inventory reserves | 69,400,000 | 69,400,000 | 56,100,000 | |||||
Depreciation | $ 96,700,000 | 110,100,000 | 123,300,000 | |||||
Number of Operating Segments | 4 | |||||||
Goodwill impairments | 413,400,000 | $ 557,300,000 | $ 970,700,000 | 0 | 0 | |||
Impairment of intangible assets | 43,100,000 | 11,000,000 | 14,400,000 | |||||
Cost Of Sales Vendor Allowances | 143,400,000 | 162,500,000 | 184,300,000 | |||||
Advertising expenses | 72,900,000 | 82,800,000 | 76,300,000 | |||||
Selling, General and Administrative Expenses | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Transaction gains and (losses) | $ 3,000,000 | 2,400,000 | 4,500,000 | |||||
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 | 1 year | |||||||
Leasehold Improvements | Maximum | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Estimated useful lives | 10 years | |||||||
United States Segment [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Impairment of Long-Lived Assets Held-for-use | $ 1,300,000 | 1,300,000 | 2,700,000 | |||||
Goodwill impairments | 795,600,000 | |||||||
Impairment of intangible assets | 11,200,000 | 11,000,000 | 7,000,000 | |||||
Technology Brands | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Goodwill impairments | 0 | |||||||
Europe Segment [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Impairment of Long-Lived Assets Held-for-use | 600,000 | |||||||
Goodwill impairments | 79,900,000 | |||||||
Impairment of intangible assets | 31,900,000 | 7,400,000 | ||||||
Fair Value, Measurements, Nonrecurring | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Impairment of Long-Lived Assets Held-for-use | $ 2,100,000 | $ 2,800,000 | $ 5,200,000 | |||||
Sony Computer Entertainment | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
New product purchases, concentration percentage | 22.00% | 20.00% | 24.00% | |||||
Microsoft | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
New product purchases, concentration percentage | 10.00% | 10.00% | 14.00% | |||||
Nintendo | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
New product purchases, concentration percentage | 23.00% | 22.00% | 10.00% | |||||
Electronic Arts | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
New product purchases, concentration percentage | 6.00% | 4.00% | 5.00% | |||||
Activision | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
New product purchases, concentration percentage | 4.00% | 6.00% | 6.00% | |||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Assets | 4,044,500,000 | $ 4,044,500,000 | ||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Assets | (200,000) | (200,000) | ||||||
UNITED STATES | United States Segment [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Assets | 2,889,500,000 | 2,889,500,000 | $ 2,919,000,000 | [1] | $ 2,628,700,000 | |||
Goodwill impairments | 795,600,000 | |||||||
Europe [Member] | Europe Segment [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Assets | $ 709,200,000 | 709,200,000 | 817,700,000 | [1] | 567,900,000 | |||
Goodwill impairments | $ 79,900,000 | |||||||
Restatement Adjustment [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Interest paid | 39,400,000 | $ 14,700,000 | ||||||
Restatement Adjustment [Member] | UNITED STATES | United States Segment [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Assets | [1] | $ 1,925,800,000 | ||||||
Accounting Standards Update 2016-02 [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Operating Lease, Right-of-Use Asset | $ 850,000,000 | |||||||
[1] | The total segment assets for the United States and Europe as of fiscal year ended February 3, 2018, have been revised to correct an error. See Note 1, "Nature of Operations and Summary of Significant Accounting Policies," for additional information. |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies Restricted Cash (Details) - USD ($) $ in Millions | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
Cash and Cash Equivalents [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | $ 1,624.4 | $ 854.2 | $ 664.5 | |
Restricted Cash and Cash Equivalents, Current | 2.7 | 0 | 0 | |
Restricted Cash, Noncurrent | 13.4 | 14.9 | 10.2 | |
Cash and cash equivalents and restricted cash at end of period | $ 1,640.5 | $ 869.1 | $ 674.7 | $ 457.4 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies Revenue (Details) - USD ($) $ in Millions | Feb. 04, 2018 | Feb. 02, 2019 | Nov. 03, 2018 | Aug. 04, 2018 | May 05, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | ||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||||||||||||||||||
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Measure of Progress | $ (16.8) | ||||||||||||||||||||
Contract with Customer, Asset, Cumulative Catch-up Adjustment to Revenue, Change in Measure of Progress | $ 4.4 | ||||||||||||||||||||
Cumulative Effect on Retained Earnings, before Tax | 16.1 | ||||||||||||||||||||
Cumulative Effect on Retained Earnings, Net of Tax | 11.5 | 11.5 | |||||||||||||||||||
Net sales | $ 3,063 | [1] | $ 1,935.4 | [1] | $ 1,501.1 | [1] | $ 1,785.8 | [1] | $ 3,316 | [1] | $ 1,827.6 | [1] | $ 1,529.5 | [1] | $ 1,874 | [1] | 8,285.3 | $ 8,547.1 | $ 7,965 | ||
Cost of sales | 5,977.2 | 6,062.2 | 5,465.1 | ||||||||||||||||||
Gross Profit | 748.8 | [1] | 558.2 | [1] | 470 | [1] | 531.1 | [1] | 864.7 | [1] | 559.8 | [1] | 493.2 | [1] | 567.2 | [1] | 2,308.1 | 2,484.9 | 2,499.9 | ||
Operating earnings (loss) | (232.1) | [1] | (517.9) | [1] | 1.5 | [1] | 46.5 | [1] | 251.1 | [1] | 71.9 | [1] | 26.9 | [1] | 89.3 | [1] | (702) | 439.2 | 481.7 | ||
Income (loss) from continuing operations before income taxes | (753.1) | 383.9 | 428.7 | ||||||||||||||||||
Income tax expense (benefit) | 41.7 | 153.5 | 124.2 | ||||||||||||||||||
Net (loss) income from continuing operations | (268.5) | $ (506.9) | $ (39.8) | $ 20.4 | 116.9 | $ 49.7 | $ 12 | $ 51.8 | (794.8) | 230.4 | 304.5 | ||||||||||
Merchandise inventories, net | 1,250.5 | 1,250.3 | 1,250.5 | 1,250.3 | |||||||||||||||||
Assets, Current | 3,127.7 | 3,018.4 | 3,127.7 | 3,018.4 | |||||||||||||||||
Deferred Tax Assets, Net, Noncurrent | 147.3 | 158.2 | 147.3 | 158.2 | |||||||||||||||||
Assets, Noncurrent | 916.6 | 2,023.2 | 916.6 | 2,023.2 | |||||||||||||||||
Assets | 4,044.3 | 5,041.6 | 4,044.3 | 5,041.6 | |||||||||||||||||
Accrued Liabilities, Current | 752.8 | 950.1 | 752.8 | 950.1 | |||||||||||||||||
Accrued Income Taxes, Current | 27.2 | 37.5 | 27.2 | 37.5 | |||||||||||||||||
Liabilities, Current | 2,181.1 | 1,930.8 | 2,181.1 | 1,930.8 | |||||||||||||||||
Liabilities | 2,708.1 | 2,827.1 | 2,708.1 | 2,827.1 | |||||||||||||||||
Retained earnings | 1,362.7 | 2,180.1 | 1,362.7 | 2,180.1 | |||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,336.2 | 2,214.5 | 1,336.2 | 2,214.5 | $ 2,254.1 | $ 2,081 | |||||||||||||||
Liabilities and Equity | 4,044.3 | $ 5,041.6 | 4,044.3 | $ 5,041.6 | |||||||||||||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||||||||||||||||||
Net sales | 8,240.7 | ||||||||||||||||||||
Cost of sales | 5,937.1 | ||||||||||||||||||||
Gross Profit | 2,303.6 | ||||||||||||||||||||
Operating earnings (loss) | (706.5) | ||||||||||||||||||||
Income (loss) from continuing operations before income taxes | (757.6) | ||||||||||||||||||||
Income tax expense (benefit) | 40.5 | ||||||||||||||||||||
Net (loss) income from continuing operations | (798.1) | ||||||||||||||||||||
Merchandise inventories, net | 1,246.1 | 1,246.1 | |||||||||||||||||||
Assets, Current | 3,123.3 | 3,123.3 | |||||||||||||||||||
Deferred Tax Assets, Net, Noncurrent | 151.9 | 151.9 | |||||||||||||||||||
Assets, Noncurrent | 921.2 | 921.2 | |||||||||||||||||||
Assets | 4,044.5 | 4,044.5 | |||||||||||||||||||
Accrued Liabilities, Current | 769 | 769 | |||||||||||||||||||
Accrued Income Taxes, Current | 26 | 26 | |||||||||||||||||||
Liabilities, Current | 2,196.1 | 2,196.1 | |||||||||||||||||||
Liabilities | 2,723.1 | 2,723.1 | |||||||||||||||||||
Retained earnings | 1,347.9 | 1,347.9 | |||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,321.4 | 1,321.4 | |||||||||||||||||||
Liabilities and Equity | 4,044.5 | 4,044.5 | |||||||||||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||||||||||||||||||
Net sales | 44.6 | ||||||||||||||||||||
Cost of sales | 40.1 | ||||||||||||||||||||
Gross Profit | 4.5 | ||||||||||||||||||||
Operating earnings (loss) | 4.5 | ||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 4.5 | ||||||||||||||||||||
Income tax expense (benefit) | 1.2 | ||||||||||||||||||||
Net (loss) income from continuing operations | 3.3 | ||||||||||||||||||||
Merchandise inventories, net | 4.4 | 4.4 | |||||||||||||||||||
Assets, Current | 4.4 | 4.4 | |||||||||||||||||||
Deferred Tax Assets, Net, Noncurrent | (4.6) | (4.6) | |||||||||||||||||||
Assets, Noncurrent | (4.6) | (4.6) | |||||||||||||||||||
Assets | (0.2) | (0.2) | |||||||||||||||||||
Accrued Liabilities, Current | (16.2) | (16.2) | |||||||||||||||||||
Accrued Income Taxes, Current | 1.2 | 1.2 | |||||||||||||||||||
Liabilities, Current | (15) | (15) | |||||||||||||||||||
Liabilities | (15) | (15) | |||||||||||||||||||
Retained earnings | 14.8 | 14.8 | |||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 14.8 | 14.8 | |||||||||||||||||||
Liabilities and Equity | $ (0.2) | $ (0.2) | |||||||||||||||||||
GiftCardsTradeInCreditsReservationDeposits [Member] | |||||||||||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||||||||||||||||||
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Measure of Progress | 44.3 | ||||||||||||||||||||
LoyaltyProgram [Member] | |||||||||||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||||||||||||||||||
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Measure of Progress | $ 28.2 | ||||||||||||||||||||
[1] | (1)Net sales, gross profit and operating earnings (loss) differ from the amounts previously reported in our Quarterly Reports on Form 10-Q as a result of our former Spring Mobile business being classified as discontinued operations for all periods presented. See Note 2, "Discontinued Operations and Dispositions," for additional information. |
Discontinued Operations and D_3
Discontinued Operations and Dispositions - Discontinued Operations and Dispositions (Details) $ in Millions | Jan. 24, 2018USD ($) | Jul. 21, 2017USD ($) | Feb. 02, 2019USD ($) | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Proceeds from Divestiture of Businesses | $ 727.9 | $ 58.5 | $ 0 | ||
Gain (Loss) on Disposition of Business | $ 100.8 | 6.4 | 0 | ||
Number of Stores | 5,800 | ||||
Kongregate [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Gain (Loss) on Disposition of Business | $ 6.4 | ||||
Cricket Branded [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Number of Stores | 63 | ||||
Discontinued Operations, Disposed of by Sale [Member] | Spring Mobile [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Proceeds from Divestiture of Businesses | 727.9 | ||||
DispositionSalePrice | 700 | ||||
DispositionTransactionCosts | 10.5 | ||||
DispositionWorkingCapitalAdjustments | 38.4 | ||||
Gain (Loss) on Disposition of Business | 100.8 | $ 0 | $ 0 | ||
DIspositionGainLossonSaleNetofTax | $ 65.4 | ||||
UnrestrictedAndRestricted [Member] | Kongregate [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Proceeds from Divestiture of Businesses | $ 54.7 | ||||
Restricted Cash [Member] | Kongregate [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Proceeds from Divestiture of Businesses | $ 3.5 | ||||
Cash and Cash Equivalents [Member] | Cricket Branded [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Proceeds from Divestiture of Businesses | $ 3.8 |
Discontinued Operations and D_4
Discontinued Operations and Dispositions - Results of Discontinued Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Feb. 02, 2019 | Nov. 03, 2018 | Aug. 04, 2018 | May 05, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Gain (Loss) on Disposition of Business | $ 100.8 | $ 6.4 | $ 0 | ||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $ 80.8 | $ 18.3 | $ 14.9 | $ 7.8 | $ (222.8) | $ 9.7 | $ 10.2 | $ 7.2 | 121.8 | (195.7) | 48.7 |
Spring Mobile [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Disposal Group, Including Discontinued Operation, Revenue | 565.4 | 677.5 | 642.9 | ||||||||
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | 73.1 | 122.3 | 133.5 | ||||||||
Disposal Group, Including Discontinued Operation, Gross Profit (Loss) | 492.3 | 555.2 | 509.4 | ||||||||
Disposal Group, Including Discontinued Operation, General and Administrative Expense | 395.9 | 453.4 | 390.7 | ||||||||
Disposal Group, Including Discontinued Operation, Depreciation and Amortization | 20.1 | 28.4 | 28.5 | ||||||||
DisposalGroupIncludingDiscontinuedOperationGoodwillImairmentLoss | 0 | 32.8 | 0 | ||||||||
DisposalGroupIncludingDiscontinuedOperationOtherAssetImpairmentCharges | 0 | 344.2 | 14.2 | ||||||||
Disposal Group, Including Discontinued Operation, Operating Income (Loss) | 76.3 | (303.6) | 76 | ||||||||
Gain (Loss) on Disposition of Business | 100.8 | 0 | 0 | ||||||||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 177.1 | (303.6) | 76 | ||||||||
Discontinued Operation, Tax Effect of Discontinued Operation | 55.3 | (107.9) | 27.3 | ||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $ 121.8 | $ (195.7) | $ 48.7 |
Discontinued Operations and D_5
Discontinued Operations and Dispositions - Major Classes of Assets and Liabilities (Details) - USD ($) $ in Millions | Feb. 02, 2019 | Feb. 03, 2018 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Disposal Group, Including Discontinued Operation, Assets, Current | $ 0 | $ 660.1 |
Disposal Group, Including Discontinued Operation, Liabilities, Current | $ 0 | 50.9 |
Spring Mobile [Member] | Discontinued Operations, Disposed of by Sale [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents | 10.2 | |
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 44.1 | |
Disposal Group, Including Discontinued Operation, Inventory, Current | 116.4 | |
Disposal Group, Including Discontinued Operation, Prepaid and Other Assets, Current | 9.7 | |
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current | 82.2 | |
Disposal Group, Including Discontinued Operation, Goodwill, Current | 316.8 | |
Disposal Group, Including Discontinued Operation, Intangible Assets, Current | 77 | |
Disposal Group, Including Discontinued Operation, Other Assets, Current | 3.7 | |
Disposal Group, Including Discontinued Operation, Assets, Current | 660.1 | |
Disposal Group, Including Discontinued Operation, Accounts Payable, Current | 9.7 | |
Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current | 26 | |
Disposal Group, Including Discontinued Operation, Other Liabilities, Current | 15.2 | |
Disposal Group, Including Discontinued Operation, Liabilities, Current | $ 50.9 |
Discontinued Operations and D_6
Discontinued Operations and Dispositions - Other Significant Operating Items (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Payments to Acquire Property, Plant, and Equipment | $ 93.7 | $ 113.4 | $ 142.7 |
Spring Mobile [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Disposal Group, Including Discontinued Operation, Depreciation and Amortization | 20.1 | 28.4 | 28.5 |
DisposalGroupIncludingDiscontinuedOperationGoodwillandAssetImpairments | 0 | 377 | 14.2 |
DisposalGroupIncludingDiscontinuedOperationInventoryReserveProvision | 12.7 | 12.9 | 17.6 |
Discontinued Operations [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Payments to Acquire Property, Plant, and Equipment | $ 7.5 | $ 22.2 | $ 36.9 |
Revenue Narrative (Details)
Revenue Narrative (Details) $ in Millions | Feb. 02, 2019USD ($) |
Customer Liabilities [Member] | |
Disaggregation of Revenue [Line Items] | |
Deferred Credits and Other Liabilities, Current | $ 262 |
Extended Warranties [Member] | |
Disaggregation of Revenue [Line Items] | |
Deferred Credits and Other Liabilities, Current | 70.4 |
Magazine Subscriptions [Member] | |
Disaggregation of Revenue [Line Items] | |
Deferred Credits and Other Liabilities, Current | $ 44.5 |
Revenue Sales of Total Net Sale
Revenue Sales of Total Net Sales by Significant Product Category (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | ||
Product Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 8,285.3 | $ 8,547.1 | $ 7,965 | |
New Video Game Hardware [Member] | ||||
Product Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 1,767.8 | 1,791.8 | 1,396.7 |
New Video Game Software [Member] | ||||
Product Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,449.7 | 2,582 | 2,493.4 | |
Pre Owned Video Game Products [Member] | ||||
Product Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,866.3 | 2,149.6 | 2,254.1 | |
Video Game Accessories [Member] | ||||
Product Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 956.5 | 784.3 | 676.7 | |
Digital [Member] | ||||
Product Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 194 | 189.2 | 181 | |
Collectibles [Member] | ||||
Product Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 707.5 | 636.2 | 494.1 | |
All Other [Member] | ||||
Product Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | $ 343.5 | $ 414 | $ 469 |
[1] | (1)Includes sales of hardware bundles, in which physical hardware and digital or physical software are sold together as a single SKU. | |||
[2] | (2)Includes mobile and consumer electronics sold through our Simply Mac and Cricket Wireless branded stores. We sold our Cricket Wireless branded stores in January 2018. Also 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. |
Revenue Change in Contract Liab
Revenue Change in Contract Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | ||
Change in Contract Liabilities [Line Items] | |||
Contract with Customer, Liability | $ 426 | ||
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Measure of Progress | $ (16.8) | ||
IncreasetoContractLiabilities | [1] | 1,238.1 | |
Decrease to Contract Liabilities | [2] | (1,262.9) | |
Other Adjustments | [3] | (7.5) | |
Contract with Customer, Liability, Current | 376.9 | ||
GiftCardsTradeInCredits [Member] | |||
Change in Contract Liabilities [Line Items] | |||
Contract with Customer, Liability, Revenue Recognized | $ 65.8 | ||
[1] | (1)Includes issuances of gift cards, trade-in credits and loyalty points, new reservation deposits, new subscriptions to Game Informer and extended warranties sold. | ||
[2] | (2)Includes redemptions of gift cards, trade-in credits, loyalty points and reservation deposits as well as revenues recognized for Game Informer and extended warranties. During the 52 weeks ended February 2, 2019, there were $65.8 million of gift cards redeemed that were outstanding as of February 3, 2018. | ||
[3] | (3)Primarily includes foreign currency translation adjustments. |
Asset Impairments - Summary Of
Asset Impairments - Summary Of Company's Asset Impairments (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | $ 43.1 | $ 11 | $ 14.4 |
Asset impairments | 45.2 | 13.8 | 19.6 |
Fair Value, Measurements, Nonrecurring | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairments of property, equipment and other assets - store impairments | 2.1 | 2.8 | 5.2 |
United States Segment [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | 11.2 | 11 | 7 |
Impairments of property, equipment and other assets - store impairments | 1.3 | 1.3 | 2.7 |
Asset impairments | 12.5 | 12.3 | 9.7 |
Canada Segment [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | 0 | 0 | 0 |
Impairments of property, equipment and other assets - store impairments | 0 | 0 | 0.2 |
Asset impairments | 0 | 0 | 0.2 |
Europe Segment [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | 31.9 | 7.4 | |
Impairments of property, equipment and other assets - store impairments | 0.6 | ||
Australia Segment | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | 0 | 0 | 0 |
Impairments of property, equipment and other assets - store impairments | 0.2 | 0.3 | 0 |
Asset impairments | 0.2 | 0.3 | 0 |
Trade Names [Member] | Europe Segment [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairments of property, equipment and other assets - store impairments | 1.2 | 2.3 | |
Asset impairments | 32.5 | 1.2 | 9.7 |
Simply Mac [Member] | Dealer Agreements [Member] | United States Segment [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | 11 | 7 | |
Micromania [Member] | Trade Names [Member] | Europe Segment [Member] | |||
Restructuring and Impairment Costs [Line Items] | |||
Impairment of intangible assets | $ 31.9 | $ 0 | $ 7.4 |
Fair Value Measurements and F_3
Fair Value Measurements and Financial Instruments - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | Mar. 09, 2016 | Sep. 24, 2014 | |
Fair Value of Financial Instruments [Line Items] | |||||
Notional value of foreign currency derivatives gross | $ 240 | $ 563.3 | |||
Impairment of intangible assets | 43.1 | 11 | $ 14.4 | ||
Fair Value, Measurements, Nonrecurring | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Impairment of Long-Lived Assets Held-for-use | 2.1 | 2.8 | 5.2 | ||
Unsecured Debt [Member] | Senior Notes 5.5% due 2019 [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||||
Senior Notes, carrying value | 349.2 | ||||
Debt Instrument, Fair Value Disclosure | 350.8 | ||||
Unsecured Debt [Member] | Senior Notes 6.75% due 2021 [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | ||||
Senior Notes, carrying value | 471.6 | ||||
Debt Instrument, Fair Value Disclosure | 478.1 | ||||
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), Fair Value Disclosure | 0 | 11 | |||
Micromania [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring | Trade Names [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 6 | 35 | |||
ThinkGeek [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring | Trade Names [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 2.8 | ||||
Video Game Brands - United States [Member] | Simply Mac [Member] | Dealer Agreements [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Impairment of intangible assets | 11 | ||||
Europe Segment [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Impairment of intangible assets | 31.9 | 7.4 | |||
Impairment of Long-Lived Assets Held-for-use | 0.6 | ||||
Europe Segment [Member] | Trade Names [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Impairment of Long-Lived Assets Held-for-use | 1.2 | 2.3 | |||
Europe Segment [Member] | Micromania [Member] | Trade Names [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Impairment of intangible assets | 31.9 | 0 | 7.4 | ||
United States Segment [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Impairment of intangible assets | 11.2 | 11 | 7 | ||
Impairment of Long-Lived Assets Held-for-use | 1.3 | 1.3 | 2.7 | ||
United States Segment [Member] | Simply Mac [Member] | Dealer Agreements [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Impairment of intangible assets | $ 11 | $ 7 | |||
United States Segment [Member] | ThinkGeek [Member] | Trade Names [Member] | |||||
Fair Value of Financial Instruments [Line Items] | |||||
Impairment of intangible assets | $ 5.3 |
Fair Value Measurements and F_4
Fair Value Measurements and Financial Instruments - Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Millions | Feb. 02, 2019 | Feb. 03, 2018 | |
Cellular World & Red Skye [Member] | |||
Liabilities | |||
Business Combination, Contingent Consideration, Liability | $ 12.2 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | |||
Assets | |||
Company-owned life insurance | [1] | $ 14.6 | 13.9 |
Total assets | 15.6 | 16.3 | |
Liabilities | |||
Nonqualified deferred compensation | [2] | 1.1 | 1.2 |
Total liabilities | 2.3 | 11.1 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||
Liabilities | |||
Business Combination, Contingent Consideration, Liability | 0 | ||
Foreign currency contracts (1) | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | |||
Assets | |||
Foreign currency contracts (derivative asset) | 1 | 2.4 | |
Foreign currency contracts (3) | Foreign Exchange Contract | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | |||
Liabilities | |||
Foreign currency contracts (derivative liability) | $ 1.2 | $ 9.9 | |
[1] | Recognized in prepaid expenses and other current assets in our consolidated balance sheets. | ||
[2] | (2)Recognized in other non-current assets in our consolidated balance sheets. |
Fair Value Measurements and F_5
Fair Value Measurements and Financial Instruments - Gains and Losses on Derivative Instruments and Foreign Currency Transaction (Detail) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Fair Value Derivative Contract Assets and Liabilities Measured On Recurring Basis Gain Loss Included In Earnings [Line Items] | |||
Gains (losses) on the changes in fair value of derivative instruments | $ 9.6 | $ (24.6) | $ 20 |
(Losses) gains on the re-measurement of related intercompany loans and foreign currency assets and liabilities | (6.6) | 27 | (15.5) |
Net gains | $ 3 | $ 2.4 | $ 4.5 |
Receivables, Net - Summary of R
Receivables, Net - Summary of Receivables (Detail) - USD ($) $ in Millions | Feb. 02, 2019 | Feb. 03, 2018 | |
Receivables [Abstract] | |||
Bankcard receivables | $ 44.6 | $ 49.2 | |
Vendor Receivables | [1] | 93.6 | 97.1 |
Allowance for doubtful accounts | (4) | (7.7) | |
Total receivables, net | $ 134.2 | $ 138.6 | |
[1] | (1) Vendor receivables primarily relate to vendor allowances. |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Narrative (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Feb. 02, 2019 | Nov. 03, 2018 | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Goodwill impairments | $ 413,400,000 | $ 557,300,000 | $ 970,700,000 | $ 0 | $ 0 |
Goodwill, Accumulated Impairment Loss | 1,611,200,000 | $ 1,611,200,000 | |||
Total weighted-average amortization period for finite lived intangible assets | 9 years 10 months 13 days | ||||
Impairment of intangible assets | $ 43,100,000 | 11,000,000 | 14,400,000 | ||
Amortization of Intangible Assets | $ 10,100,000 | 13,400,000 | 15,000,000 | ||
Leases, Acquired-in-Place [Member] | Maximum | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Total weighted-average amortization period for finite lived intangible assets | 20 years | ||||
Advertising relationships | 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 | ||||
Europe Segment [Member] | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Goodwill impairments | $ 79,900,000 | ||||
Goodwill, Accumulated Impairment Loss | 499,500,000 | 499,500,000 | |||
Impairment of intangible assets | 31,900,000 | 7,400,000 | |||
Technology Brands | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Goodwill impairments | 0 | ||||
United States Segment [Member] | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Goodwill impairments | 795,600,000 | ||||
Goodwill, Accumulated Impairment Loss | 809,100,000 | 809,100,000 | |||
Impairment of intangible assets | 11,200,000 | 11,000,000 | 7,000,000 | ||
Canada Segment [Member] | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Goodwill impairments | 28,800,000 | ||||
Goodwill, Accumulated Impairment Loss | 129,100,000 | 129,100,000 | |||
Impairment of intangible assets | 0 | 0 | 0 | ||
Australia Segment | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Goodwill impairments | 66,400,000 | ||||
Goodwill, Accumulated Impairment Loss | $ 173,500,000 | 173,500,000 | |||
Impairment of intangible assets | 0 | 0 | 0 | ||
Spring Mobile [Member] | Technology Brands | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Goodwill impairments | 32,800,000 | ||||
Simply Mac [Member] | United States Segment [Member] | Dealer Agreements [Member] | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Impairment of intangible assets | 11,000,000 | 7,000,000 | |||
Simply Mac [Member] | Video Game Brands - United States [Member] | Dealer Agreements [Member] | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Impairment of intangible assets | 11,000,000 | ||||
Micromania [Member] | Europe Segment [Member] | Trade Names [Member] | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Impairment of intangible assets | 31,900,000 | $ 0 | $ 7,400,000 | ||
ThinkGeek [Member] | United States Segment [Member] | Trade Names [Member] | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | |||||
Impairment of intangible assets | $ 5,300,000 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill for Operating Segments (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Feb. 02, 2019 | Nov. 03, 2018 | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Goodwill [Line Items] | |||||
Goodwill Before Transfers | $ 1,725,200,000 | ||||
Goodwill, Transfers | (349,600,000) | ||||
Goodwill, Written off Related to Sale of Business Unit | $ (42,600,000) | ||||
Goodwill, Impaired, Accumulated Impairment Loss | $ 1,611,200,000 | $ 1,611,200,000 | |||
Goodwill [Roll Forward] | |||||
Beginning balance | 1,350,500,000 | 1,375,600,000 | |||
Foreign currency translation adjustment | (15,900,000) | 17,500,000 | |||
Ending balance | 363,900,000 | 363,900,000 | 1,350,500,000 | 1,375,600,000 | |
Goodwill impairments | (413,400,000) | $ (557,300,000) | (970,700,000) | 0 | 0 |
Technology Brands [Member] | |||||
Goodwill [Line Items] | |||||
Goodwill Before Transfers | 352,000,000 | ||||
Goodwill, Written off Related to Sale of Business Unit | 0 | ||||
Goodwill [Roll Forward] | |||||
Beginning balance | 0 | 0 | |||
Foreign currency translation adjustment | 0 | 0 | |||
Ending balance | 0 | 0 | 0 | 0 | |
Goodwill impairments | 0 | ||||
United States Segment [Member] | |||||
Goodwill [Line Items] | |||||
Goodwill Before Transfers | 1,199,700,000 | ||||
Goodwill, Transfers | 2,400,000 | ||||
Goodwill, Written off Related to Sale of Business Unit | (42,600,000) | ||||
Goodwill, Impaired, Accumulated Impairment Loss | 809,100,000 | 809,100,000 | |||
Goodwill [Roll Forward] | |||||
Beginning balance | 1,159,500,000 | 1,202,100,000 | |||
Foreign currency translation adjustment | 0 | 0 | |||
Ending balance | 363,900,000 | 363,900,000 | 1,159,500,000 | 1,202,100,000 | |
Goodwill impairments | (795,600,000) | ||||
Canada Segment [Member] | |||||
Goodwill [Line Items] | |||||
Goodwill, Transfers | 0 | ||||
Goodwill, Written off Related to Sale of Business Unit | 0 | ||||
Goodwill, Impaired, Accumulated Impairment Loss | 129,100,000 | 129,100,000 | |||
Goodwill [Roll Forward] | |||||
Beginning balance | 30,300,000 | 28,600,000 | |||
Foreign currency translation adjustment | (1,500,000) | 1,700,000 | |||
Ending balance | 0 | 0 | 30,300,000 | 28,600,000 | |
Goodwill impairments | (28,800,000) | ||||
Australia Segment | |||||
Goodwill [Line Items] | |||||
Goodwill, Transfers | 0 | ||||
Goodwill, Written off Related to Sale of Business Unit | 0 | ||||
Goodwill, Impaired, Accumulated Impairment Loss | 173,500,000 | 173,500,000 | |||
Goodwill [Roll Forward] | |||||
Beginning balance | 73,600,000 | 70,100,000 | |||
Foreign currency translation adjustment | (7,200,000) | 3,500,000 | |||
Ending balance | 0 | 0 | 73,600,000 | 70,100,000 | |
Goodwill impairments | (66,400,000) | ||||
Europe Segment [Member] | |||||
Goodwill [Line Items] | |||||
Goodwill, Transfers | 0 | ||||
Goodwill, Written off Related to Sale of Business Unit | 0 | ||||
Goodwill, Impaired, Accumulated Impairment Loss | 499,500,000 | 499,500,000 | |||
Goodwill [Roll Forward] | |||||
Beginning balance | 87,100,000 | 74,800,000 | |||
Foreign currency translation adjustment | (7,200,000) | 12,300,000 | |||
Ending balance | $ 0 | 0 | 87,100,000 | 74,800,000 | |
Goodwill impairments | $ (79,900,000) | ||||
Spring Mobile [Member] | Technology Brands [Member] | |||||
Goodwill [Line Items] | |||||
Goodwill, Transfers | (352,000,000) | ||||
Goodwill [Roll Forward] | |||||
Beginning balance | 349,600,000 | ||||
Ending balance | $ 349,600,000 | ||||
Goodwill impairments | (32,800,000) | ||||
Discontinued Operations, Disposed of by Sale [Member] | Spring Mobile [Member] | |||||
Goodwill [Roll Forward] | |||||
Disposal Group, Including Discontinued Operation, Goodwill, Current | $ 316,800,000 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Schedule of Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Nov. 03, 2018 | Feb. 02, 2019 | Feb. 03, 2018 | |
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Accumulated Amortization | $ (99.6) | $ (105.2) | |
Indefinite and Finite-Lived Intangible Assets, Gross | 133.1 | 197.7 | |
Indefinite and Finite-Lived Intangible Assets, Net Carrying Amount | 33.5 | 92.5 | |
Trade Names [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 8.8 | 49.3 | |
Leasehold rights | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 91.8 | 100.4 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (67.3) | (67) | |
Finite-Lived Intangible Assets, Net | 24.5 | 33.4 | |
Customer Relationships [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 0 | 14.5 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 | (6.8) | |
Finite-Lived Intangible Assets, Net | 0 | 7.7 | |
Other | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 32.5 | 33.5 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (32.3) | (31.4) | |
Finite-Lived Intangible Assets, Net | $ 0.2 | $ 2.1 | |
ThinkGeek [Member] | Video Game Brands - United States [Member] | Customer Relationships [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Impairment of Intangible Assets, Finite-lived | $ 5.9 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Estimated Aggregate Amortization Expenses for Deferred Financing Fees and Other Intangible Assets (Detail) - Other $ in Millions | Feb. 02, 2019USD ($) | [1] |
Expected Amortization Expense [Line Items] | ||
Fiscal 2019 | $ 5.5 | |
Fiscal 2020 | 4.5 | |
Fiscal 2021 | 3.7 | |
Fiscal 2022 | 3.2 | |
Fiscal 2023 | $ 2.6 | |
[1] | Period Projected Amortization ExpenseFiscal 2019 $5.5Fiscal 2020 4.5Fiscal 2021 3.7Fiscal 2022 3.2Fiscal 2023 2.6 |
Income Taxes - Narrative (Deta
Income Taxes - Narrative (Detail) $ in Millions | 9 Months Ended | 12 Months Ended | |||||
Nov. 03, 2018USD ($) | Feb. 02, 2019USD ($) | Feb. 02, 2019EUR (€) | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | ||
Income Taxes [Line Items] | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | [1] | 21.00% | 21.00% | 33.70% | 35.00% | ||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 22.7 | ||||||
Loss Contingency, Loss in Period | $ 30.3 | $ 30.3 | |||||
Effective Income Tax Rate Reconciliation, Other, Threshold of Items Included as a Percentage of Earnings Before Income Taxes | 1.05% | 1.05% | 1.69% | 1.75% | |||
Realization of Losses Not Previously Benefited | [2] | 0.00% | 0.00% | 0.00% | (9.80%) | ||
Valuation allowance | $ 32.9 | $ 36.9 | |||||
Tax Credit Carryforward, Amount | 19.8 | ||||||
Gross amount of unrecognized tax benefits | 22.5 | 24.9 | $ 42.1 | $ 31.9 | |||
Unrecognized tax benefits that would impact effective tax rate | 19.6 | ||||||
Unrecognized tax benefits, interest and penalties accrued | 5.4 | 6.9 | 7.2 | ||||
Unrecognized tax benefits, interest and penalties expense | 1.5 | 0.3 | $ 2.3 | ||||
Undistributed Earnings of Foreign Subsidiaries | $ 38.9 | ||||||
Minimum | |||||||
Income Taxes [Line Items] | |||||||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2024 | Dec. 31, 2024 | |||||
Maximum | |||||||
Income Taxes [Line Items] | |||||||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2027 | Dec. 31, 2027 | |||||
State and Local Jurisdiction | Minimum | |||||||
Income Taxes [Line Items] | |||||||
Income tax examination, length of period subject to examination | 3 years | 3 years | |||||
State and Local Jurisdiction | Maximum | |||||||
Income Taxes [Line Items] | |||||||
Income tax examination, length of period subject to examination | 6 years | 6 years | |||||
Foreign Country | Minimum | |||||||
Income Taxes [Line Items] | |||||||
Income tax examination, length of period subject to examination | 3 years | 3 years | |||||
Foreign Country | Maximum | |||||||
Income Taxes [Line Items] | |||||||
Income tax examination, length of period subject to examination | 6 years | 6 years | |||||
NOL with expiration [Member] | |||||||
Income Taxes [Line Items] | |||||||
Operating Loss Carryforwards | $ 25.2 | ||||||
NOL with expiration [Member] | Minimum | |||||||
Income Taxes [Line Items] | |||||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2019 | Dec. 31, 2019 | |||||
NOL with expiration [Member] | Maximum | |||||||
Income Taxes [Line Items] | |||||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2035 | Dec. 31, 2035 | |||||
NOLwithoutexpiration [Domain] | |||||||
Income Taxes [Line Items] | |||||||
Operating Loss Carryforwards | $ 222.5 | ||||||
Geeknet [Member] | NOL with expiration [Member] | |||||||
Income Taxes [Line Items] | |||||||
Operating Loss Carryforwards | $ 65.1 | ||||||
Geeknet [Member] | NOL with expiration [Member] | Minimum | |||||||
Income Taxes [Line Items] | |||||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2020 | Dec. 31, 2020 | |||||
Geeknet [Member] | NOL with expiration [Member] | Maximum | |||||||
Income Taxes [Line Items] | |||||||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2035 | Dec. 31, 2035 | |||||
PreviouslyUnrecognized [Member] | |||||||
Income Taxes [Line Items] | |||||||
Operating Loss Carryforwards, Valuation Allowance | $ 14.8 | ||||||
French Tax Administration Assessment [Member] | |||||||
Income Taxes [Line Items] | |||||||
Loss Contingency, Damages Sought | € | € 80,000,000 | ||||||
[1] | (1)Per IRC Section 15, we have incorporated a statutory rate of 21.0% for our year end current provision ending February 2, 2019. | ||||||
[2] | (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 $14.8 million. The valuation allowance established for this tax benefit is reflected in the line item “Change in valuation allowance.” |
Income Taxes - Provision for I
Income Taxes - Provision for Income Tax (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Current tax expense: | |||
Federal | $ 45 | $ 104.7 | $ 122.2 |
State | 12.8 | 14.2 | 9.6 |
Foreign | 38.5 | 28.5 | 29.2 |
Current Income Tax Expense Benefit | 96.3 | 147.4 | 161 |
Deferred tax expense (benefit): | |||
Federal | (36) | 23.4 | (3.1) |
State | (4) | (1.3) | (0.1) |
Foreign | (14.6) | (16) | (33.6) |
Deferred Income Tax Expense Benefit | (54.6) | 6.1 | (36.8) |
Income tax expense | $ 41.7 | $ 153.5 | $ 124.2 |
Income Taxes - Components of E
Income Taxes - Components of Earnings Before Income Tax Expense (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Income Tax Disclosure [Abstract] | |||
United States | $ (543.4) | $ 310.7 | $ 370.8 |
International | (209.7) | 73.2 | 57.9 |
(Loss) earnings from continuing operations before income taxes | $ (753.1) | $ 383.9 | $ 428.7 |
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. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | ||
Income Tax Disclosure [Abstract] | ||||
Federal statutory tax rate(1) | [1] | 21.00% | 33.70% | 35.00% |
State income taxes, net of federal effect | (0.90%) | 3.00% | 1.40% | |
Foreign income tax rate differential | 2.80% | (1.10%) | (1.10%) | |
Subpart F income | 0.00% | (1.10%) | 4.80% | |
EffectiveIncomeTaxRateReconciliationChangeInUnrecognizedTaxBenefits | 0.20% | (1.50%) | 2.70% | |
EffectiveIncomeTaxRateReconciliationTaxReformTransitionTax | 3.00% | 2.70% | 0.00% | |
EffectiveIncomeTaxRateReconciliationTaxReform | 0.00% | 8.30% | 0.00% | |
Realization of Losses Not Previously Benefited | [2] | 0.00% | 0.00% | (9.80%) |
EffectiveIncomeTaxRateReconciliationLossOnInvestmentinForeignSubsidiary | 0.00% | 0.00% | (3.80%) | |
gme_EffectiveIncomeTaxRateReconciliationIntercompanySaleofIntangibleAssets | 0.00% | (3.40%) | 0.00% | |
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent | 0.10% | (2.50%) | (0.10%) | |
EffectiveIncomeTaxRateReconciliationWithholdingTaxExpense | (0.30%) | 2.30% | 0.20% | |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Percent | (25.60%) | 0.10% | 0.00% | |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent | (4.20%) | 0.50% | 0.60% | |
Other (including permanent differences)(2) | [3] | (1.60%) | (1.00%) | (0.90%) |
Effective Income Tax Rate, Continuing Operations, Total | (5.50%) | 40.00% | 29.00% | |
Effective Income Tax Rate Reconciliation, Other, Threshold of Items Included as a Percentage of Earnings Before Income Taxes | 1.05% | 1.69% | 1.75% | |
PreviouslyUnrecognized [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $ 42.1 | |||
Operating Loss Carryforwards, Valuation Allowance | $ 14.8 | |||
[1] | (1)Per IRC Section 15, we have incorporated a statutory rate of 21.0% for our year end current provision ending February 2, 2019. | |||
[2] | (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 $14.8 million. The valuation allowance established for this tax benefit is reflected in the line item “Change in valuation allowance.” | |||
[3] | (3)Other is comprised of numerous items, none of which is greater than 1.05% of loss before income taxes for fiscal 2018, 1.69% of earnings before income taxes for fiscal 2017, and 1.75% of earnings before income taxes for fiscal 2016. |
Income Taxes - Blended Statuto
Income Taxes - Blended Statutory Rate (Details) | 12 Months Ended | |||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | ||
Income Tax Disclosure [Abstract] | ||||
Federal statutory tax rate(1) | [1] | 21.00% | 33.70% | 35.00% |
[1] | (1)Per IRC Section 15, we have incorporated a statutory rate of 21.0% for our year end current provision ending February 2, 2019. |
Income Taxes - Components of D
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Feb. 02, 2019 | Feb. 03, 2018 | |
Income Tax Disclosure [Abstract] | ||
Current Fiscal Year End Date | --02-02 | |
Deferred tax asset: | ||
Inventory | $ 14.7 | $ 16.8 |
Deferred rents | 3.9 | 6.9 |
Stock-based compensation | 1.8 | 9.2 |
Net operating losses | 78.5 | 86.2 |
Deferred Tax Assets, Deferred Income | 18.6 | 16.6 |
Property and equipment | 11.3 | 13.6 |
Credits | 18.2 | 9.5 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | 12.1 | 12.9 |
Deferred Tax Assets, Goodwill and Intangible Assets | 21.8 | 63.2 |
Other | 13.1 | 12.9 |
Intangible assets | 194 | 247.8 |
Other | (32.9) | (36.9) |
Prepaid expenses | 161.1 | 210.9 |
Other | ||
Net deferred tax assets | (10.2) | (49.9) |
The above amounts are reflected in the consolidated financial statements as: | (3.6) | (4.5) |
Deferred income taxes - assets | (0.1) | (3.3) |
Deferred income taxes - liabilities | (13.9) | (57.7) |
Net deferred tax assets | 147.2 | 153.2 |
The above amounts are reflected in the consolidated financial statements as: | ||
Deferred Tax Assets, Net, Noncurrent | 147.3 | 158.2 |
Deferred income taxes - liabilities | $ (0.1) | $ (5) |
Income Taxes - Reconciliation
Income Taxes - Reconciliation of Changes in Gross Balances of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Income Tax Disclosure [Abstract] | |||
Current Fiscal Year End Date | --02-02 | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning balance of unrecognized tax benefits | $ 24.9 | $ 42.1 | $ 31.9 |
Increases related to current period tax positions | 1.1 | 1 | 3.5 |
Increases related to prior period tax positions | 35.5 | 11.2 | 7.9 |
Reductions as a result of a lapse of the applicable statute of limitations | (0.6) | (1.3) | (0.2) |
Reductions as a result of settlements with taxing authorities | (38.4) | (28.1) | (1) |
Ending balance of unrecognized tax benefits | $ 22.5 | $ 24.9 | $ 42.1 |
Accrued Liabilities - Summary o
Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Millions | Feb. 02, 2019 | Feb. 03, 2018 | |
Payables and Accruals [Abstract] | |||
Customer liabilities | $ 268.7 | $ 302.2 | |
Deferred revenue | 124.2 | 132.4 | |
Employee benefits, compensation and related taxes | 140.7 | 152.2 | |
ChecksAndTransfersYetToBePresentedForPaymentFromZeroBalanceCashAccounts | 82.7 | 176.4 | |
Other taxes | 45.5 | 63.4 | |
Other accrued liabilities(1) | [1] | 91 | 123.5 |
Total accrued liabilities | 752.8 | 950.1 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Business Combination, Contingent Consideration, Liability | $ 0 | ||
Cellular World & Red Skye [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Business Combination, Contingent Consideration, Liability | $ 12.2 | ||
[1] | (1)Includes acquisition-related contingent consideration of $12.2 million as of February 3, 2018. See Note 5, "Fair Value Measurements and Financial Instruments" for additional information. |
Debt - Narrative (Detail)
Debt - Narrative (Detail) | Apr. 04, 2019 | Nov. 21, 2017 | Mar. 10, 2016USD ($) | Sep. 24, 2014USD ($) | Mar. 25, 2014 | Feb. 02, 2019USD ($) | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | Nov. 20, 2017USD ($) | Mar. 09, 2016USD ($) | Sep. 30, 2007USD ($) |
Debt Instrument [Line Items] | |||||||||||
Debt Instrument, Redemption, Description | 1000 | ||||||||||
Long-term Debt | $ 820,800,000 | $ 817,900,000 | |||||||||
Borrowings from the revolver | 154,000,000 | 373,000,000 | $ 545,000,000 | ||||||||
Repayments of Lines of Credit | 154,000,000 | 373,000,000 | $ 545,000,000 | ||||||||
Line of Credit Facility, Average Outstanding Amount | 7,500,000 | ||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 385,100,000 | ||||||||||
Line of Credit Facility, Fair Value of Amount Outstanding | 0 | ||||||||||
Letters of Credit Outstanding, Amount | 7,200,000 | ||||||||||
Senior Notes All [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt Issuance Costs, Noncurrent, Net | (4,200,000) | (7,100,000) | |||||||||
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, Redemption Price, Percentage of Principal Amount Redeemed | 100.00% | ||||||||||
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 | 3.90% | ||||||||||
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 | Amended Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest Rate Margin | 0.25% | ||||||||||
Minimum | Amended Five Year Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest Rate Margin | 1.25% | ||||||||||
Maximum | Amended Five Year Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest Rate Margin | 0.50% | ||||||||||
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 | $ 9,400,000 |
Debt Debt Table (Details)
Debt Debt Table (Details) - USD ($) $ in Millions | Feb. 02, 2019 | Feb. 03, 2018 | Mar. 09, 2016 | Sep. 24, 2014 |
Debt Instrument [Line Items] | ||||
Long-term Debt | $ 820.8 | $ 817.9 | ||
Long-term Debt, Current Maturities | (349.2) | 0 | ||
Long-term Debt, Excluding Current Maturities | 471.6 | 817.9 | ||
Senior Notes All [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Issuance Costs, Noncurrent, Net | 4.2 | 7.1 | ||
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. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Leases [Abstract] | |||
Minimum | $ 350.5 | $ 357 | $ 355.9 |
Percentage rentals | 7.1 | 8.3 | 6.5 |
Operating Leases Rent Expense Net | $ 357.6 | $ 365.3 | $ 362.4 |
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. 02, 2019USD ($) |
Leases [Abstract] | |
Fiscal 2019 | $ 296.2 |
Fiscal 2020 | 208.7 |
Fiscal 2021 | 149.1 |
Fiscal 2022 | 105.4 |
Fiscal 2023 | 71.4 |
Thereafter | 116.2 |
Operating Leases Future Minimum Payments Due | $ 947 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | Feb. 02, 2019 | Feb. 03, 2018 |
Business Acquisition, Contingent Consideration [Line Items] | ||
Bank Guarantee Relating To International Store Leases | $ 24.1 | $ 25.5 |
Commitments and Contingencies L
Commitments and Contingencies Litigation Contingency (Details) $ in Millions | 9 Months Ended | 12 Months Ended | |
Nov. 03, 2018USD ($) | Feb. 02, 2019USD ($) | Feb. 02, 2019EUR (€) | |
Loss Contingencies [Line Items] | |||
Loss Contingency, Loss in Period | $ | $ 30.3 | $ 30.3 | |
French Tax Administration Assessment [Member] | |||
Loss Contingencies [Line Items] | |||
Loss Contingency, Damages Sought | € | € 80,000,000 |
Common Stock and Share-Based _3
Common Stock and Share-Based Compensation - Narrative (Detail) - USD ($) $ / shares in Units, $ in Millions | Mar. 04, 2019 | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Common Stock, Voting Rights | one vote per share | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ 38.52 | |||
Options Outstanding, Weighted-Average Remaining Life (Years) | 3 years 4 months 10 days | |||
Payments of Dividends | $ (157.4) | $ (155.2) | $ (155.5) | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 0.1 | $ 0.1 | ||
Treasury Stock, Shares, Acquired | 3,000,000 | |||
Treasury Stock Acquired, Average Cost Per Share | $ 24.94 | |||
Stock Repurchased During Period, Value | $ 75.1 | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 170.2 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 0 | |||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | (4.1) | (4.2) | (10.3) | |
Employee Stock Option [Member] | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Allocated Share-based Compensation Expense | 0 | $ (0.1) | $ (0.9) | |
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 | 969,043 | 596,412 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 791,891 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 15.67 | $ 24.94 | $ 30.18 | |
Allocated Share-based Compensation Expense | $ (10.7) | $ (25.5) | $ (16.9) | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 7.5 | |||
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 | $ 16.2 | $ 12.5 | $ 27.6 | |
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 | 257,667 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 298,454 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 15.80 | $ 25.28 | $ 30.54 | |
Allocated Share-based Compensation Expense | $ 5.1 | $ 2.9 | $ 5.9 | |
Two Thousand Eleven Stock Incentive Plan [Member] | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 9,250,000 | |||
Two Thousand Eleven Stock Incentive Plan [Member] | Employee Stock Option [Member] | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Share Based Compensation Arrangement By Share Based Payment Award Options Expiration Term | 10 years | |||
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | Group 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 | 287,670 | 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 | |||
Subsequent Event [Member] | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Stock Repurchase Program, Authorized Amount | $ 300 | |||
Class A Common Stock | ||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.52 | $ 1.52 | $ 1.48 | |
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 | |||
Dividends Payable, Date Declared | Mar. 4, 2019 |
Common Stock and Share-Based _4
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 | Feb. 02, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Total number of shares purchased | 3 | |
Average price per share | $ 24.94 | |
Aggregate value of shares purchased | $ 75.1 | |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 170.2 |
Common Stock and Share-Based _5
Common Stock and Share-Based Compensation - Summary of Company's Stock Options (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Range of Exercise Prices, lower limit | $ 20.32 | ||
Options Outstanding, Weighted-Average Remaining Life (Years) | 3 years 4 months 10 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0.1 | $ 0.1 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | ||
Shares | |||
Balance, beginning | 1,194,025 | ||
Granted | 0 | ||
Exercised | 0 | ||
Forfeited | (594,770) | ||
Balance, ending | 599,255 | 1,194,025 | |
Weighted-Average Exercise Price | |||
Balance, beginning | $ 35.30 | ||
Forfeited | 41.84 | ||
Balance, ending | $ 28.81 | $ 35.30 | |
Employee Stock Option [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Allocated Share-based Compensation Expense | $ 0 | $ 0.1 | $ 0.9 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 0 |
Common Stock and Share-Based _6
Common Stock and Share-Based Compensation - Summary of Company's Restricted Stock Awards (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Weighted-Average Grant Date Fair Value | |||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 4.1 | $ 4.2 | $ 10.3 |
Restricted Stock | |||
Shares | |||
Nonvested shares at beginning of period | 912,360 | ||
Granted | 969,043 | 596,412 | |
Vested | (791,891) | ||
Forfeited | (282,484) | ||
Nonvested shares at end of period | 807,028 | 912,360 | |
Weighted-Average Grant Date Fair Value | |||
Nonvested shares at beginning of period | $ 27.96 | ||
Granted | 15.67 | $ 24.94 | $ 30.18 |
Vested | 25.66 | ||
Forfeited | 19.86 | ||
Nonvested shares at end of period | $ 18.30 | $ 27.96 | |
Allocated Share-based Compensation Expense | $ 10.7 | $ 25.5 | $ 16.9 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 7.5 | ||
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 | $ 16.2 | $ 12.5 | $ 27.6 |
Performance Shares [Member] | |||
Shares | |||
Nonvested shares at beginning of period | 553,189 | ||
Granted | 257,667 | ||
Vested | (298,454) | ||
Forfeited | (225,095) | ||
Nonvested shares at end of period | 287,307 | 553,189 | |
Weighted-Average Grant Date Fair Value | |||
Nonvested shares at beginning of period | $ 28.83 | ||
Granted | 15.80 | $ 25.28 | $ 30.54 |
Vested | 30.49 | ||
Forfeited | 22.56 | ||
Nonvested shares at end of period | $ 20.33 | $ 28.83 | |
Allocated Share-based Compensation Expense | $ (5.1) | $ (2.9) | $ (5.9) |
Group Five [Member] | Two Thousand Eleven Stock Incentive Plan [Member] | Performance Shares [Member] | |||
Shares | |||
Granted | 287,670 | 206,580 | |
Group Three [Member] | Two Thousand Eleven Stock Incentive Plan [Member] | Restricted Stock | |||
Shares | |||
Granted | 602,414 |
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. 02, 2019 | Nov. 03, 2018 | Aug. 04, 2018 | May 05, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | ||||
Earnings Per Share [Abstract] | ||||||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $ (268.5) | $ (506.9) | $ (39.8) | $ 20.4 | $ 116.9 | $ 49.7 | $ 12 | $ 51.8 | $ (794.8) | $ 230.4 | $ 304.5 | |||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 80.8 | 18.3 | 14.9 | 7.8 | (222.8) | 9.7 | 10.2 | 7.2 | 121.8 | (195.7) | 48.7 | |||
Net Income (Loss) Attributable to Parent | $ (187.7) | $ (488.6) | $ (24.9) | $ 28.2 | $ (105.9) | $ 59.4 | $ 22.2 | $ 59 | $ (673) | $ 34.7 | $ 353.2 | |||
Weighted Average Number of Shares Outstanding, Basic | 102.1 | 101.4 | 103.4 | |||||||||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 0 | 0.1 | 0.4 | |||||||||||
Weighted Average Number of Shares Outstanding, Diluted | 102.1 | 101.5 | 103.8 | |||||||||||
Income (Loss) from Continuing Operations, Per Basic Share | $ (2.63) | $ (4.96) | $ (0.39) | $ 0.20 | $ 1.15 | $ 0.49 | $ 0.12 | $ 0.51 | $ (7.79) | $ 2.27 | $ 2.94 | |||
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share | 0.79 | 0.18 | 0.15 | 0.08 | (2.20) | 0.10 | 0.10 | 0.07 | 1.19 | (1.93) | 0.47 | |||
Basic earnings (loss) per share: | ||||||||||||||
Basic earnings (loss) per share | (1.84) | (4.78) | (0.24) | 0.28 | (1.04) | 0.59 | 0.22 | 0.58 | (6.59) | [1] | 0.34 | [1] | 3.42 | [1] |
Income (Loss) from Continuing Operations, Per Diluted Share | (2.63) | (4.96) | (0.39) | 0.20 | 1.15 | 0.49 | 0.12 | 0.51 | (7.79) | 2.27 | 2.93 | |||
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share | 0.79 | 0.18 | 0.15 | 0.08 | (2.19) | 0.10 | 0.10 | 0.07 | 1.19 | (1.93) | 0.47 | |||
Earnings Per Share, Diluted | $ (1.84) | $ (4.78) | $ (0.24) | $ 0.28 | $ (1.04) | $ 0.59 | $ 0.22 | $ 0.58 | $ (6.59) | [1] | $ 0.34 | [1] | $ 3.40 | [1] |
[1] | (1)The sum of (loss) earnings per share may not total to consolidated (loss) earnings per common share as amounts are calculated based on whole numbers. |
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. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
Class A Common Stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti- Dilutive Shares | 1.7 | 2 | 1.4 |
Employees' Defined Contributi_2
Employees' Defined Contribution Plan - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |
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 | $ 6.1 | $ 5.9 | $ 5.9 |
Segment Information Additional
Segment Information Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Feb. 02, 2019USD ($)LocationCountry | Feb. 03, 2018USD ($) | Jan. 28, 2017USD ($) | ||
Segment Reporting Disclosure [Line Items] | ||||
Assets | $ 4,044.3 | $ 5,041.6 | ||
Disposal Group, Including Discontinued Operation, Assets, Current | 0 | 660.1 | ||
Payments to Acquire Property, Plant, and Equipment | $ 93.7 | 113.4 | $ 142.7 | |
Number of Operating Segments | 4 | |||
UNITED STATES | ||||
Segment Reporting Disclosure [Line Items] | ||||
Number of states the entity operates | Location | 50 | |||
Europe | Retail Site | ||||
Segment Reporting Disclosure [Line Items] | ||||
Number of countries in which the entity operates | Country | 10 | |||
Continuing Operations [Member] | ||||
Segment Reporting Disclosure [Line Items] | ||||
Assets | $ 4,044.3 | 4,381.5 | [1] | 3,902.8 |
Payments to Acquire Property, Plant, and Equipment | 86.2 | 91.2 | 105.8 | |
Discontinued Operations [Member] | ||||
Segment Reporting Disclosure [Line Items] | ||||
Payments to Acquire Property, Plant, and Equipment | $ 7.5 | $ 22.2 | $ 36.9 | |
[1] | The total segment assets for the United States and Europe as of fiscal year ended February 3, 2018, have been revised to correct an error. See Note 1, "Nature of Operations and Summary of Significant Accounting Policies," for additional information. |
Segment Information Information
Segment Information Information on Segments and Reconciliation to Earnings Before Income Taxes (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Feb. 02, 2019 | Nov. 03, 2018 | Aug. 04, 2018 | [1] | May 05, 2018 | [1] | Feb. 03, 2018 | Oct. 28, 2017 | [1] | Jul. 29, 2017 | [1] | Apr. 29, 2017 | [1] | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | |||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Net sales | $ 3,063,000,000 | [1] | $ 1,935,400,000 | [1] | $ 1,501,100,000 | $ 1,785,800,000 | $ 3,316,000,000 | [1] | $ 1,827,600,000 | $ 1,529,500,000 | $ 1,874,000,000 | $ 8,285,300,000 | $ 8,547,100,000 | $ 7,965,000,000 | ||||||
Operating Income (Loss) | (232,100,000) | [1] | (517,900,000) | [1] | $ 1,500,000 | $ 46,500,000 | 251,100,000 | [1] | $ 71,900,000 | $ 26,900,000 | $ 89,300,000 | (702,000,000) | 439,200,000 | 481,700,000 | ||||||
Depreciation and amortization | 105,600,000 | 122,300,000 | 136,700,000 | |||||||||||||||||
Goodwill impairments | 413,400,000 | $ 557,300,000 | 970,700,000 | 0 | 0 | |||||||||||||||
Asset impairments | 45,200,000 | 13,800,000 | 19,600,000 | |||||||||||||||||
Capital expenditures | 93,700,000 | 113,400,000 | 142,700,000 | |||||||||||||||||
Property, Plant and Equipment, Net | 321,300,000 | 351,000,000 | 321,300,000 | 351,000,000 | 363,300,000 | |||||||||||||||
Total segment assets | 4,044,300,000 | 5,041,600,000 | 4,044,300,000 | 5,041,600,000 | ||||||||||||||||
United States Segment [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Goodwill impairments | 795,600,000 | |||||||||||||||||||
Asset impairments | 12,500,000 | 12,300,000 | 9,700,000 | |||||||||||||||||
Canada Segment [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Goodwill impairments | 28,800,000 | |||||||||||||||||||
Asset impairments | 0 | 0 | 200,000 | |||||||||||||||||
Australia Segment | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Goodwill impairments | 66,400,000 | |||||||||||||||||||
Asset impairments | 200,000 | 300,000 | 0 | |||||||||||||||||
Europe Segment [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Goodwill impairments | 79,900,000 | |||||||||||||||||||
UNITED STATES | United States Segment [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Net sales | 5,800,200,000 | 5,876,000,000 | 5,660,000,000 | |||||||||||||||||
Operating Income (Loss) | (533,900,000) | 332,800,000 | 398,400,000 | |||||||||||||||||
Depreciation and amortization | 67,100,000 | 81,600,000 | 98,500,000 | |||||||||||||||||
Goodwill impairments | 795,600,000 | |||||||||||||||||||
Asset impairments | 12,500,000 | 12,300,000 | 9,700,000 | |||||||||||||||||
Capital expenditures | 51,500,000 | 61,500,000 | 63,600,000 | |||||||||||||||||
Property, Plant and Equipment, Net | 188,700,000 | 207,600,000 | 188,700,000 | 207,600,000 | 226,900,000 | |||||||||||||||
Total segment assets | 2,889,500,000 | 2,919,000,000 | [2] | 2,889,500,000 | 2,919,000,000 | [2] | 2,628,700,000 | |||||||||||||
Europe | Europe Segment [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Net sales | 1,405,200,000 | 1,534,000,000 | 1,313,500,000 | |||||||||||||||||
Operating Income (Loss) | (102,300,000) | 53,000,000 | 26,000,000 | |||||||||||||||||
Depreciation and amortization | 25,000,000 | 26,400,000 | 25,000,000 | |||||||||||||||||
Goodwill impairments | 79,900,000 | |||||||||||||||||||
Asset impairments | 32,500,000 | 1,200,000 | 9,700,000 | |||||||||||||||||
Capital expenditures | 19,800,000 | 15,300,000 | 25,800,000 | |||||||||||||||||
Property, Plant and Equipment, Net | 74,900,000 | 81,800,000 | 74,900,000 | 81,800,000 | 76,900,000 | |||||||||||||||
Total segment assets | 709,200,000 | 817,700,000 | [2] | 709,200,000 | 817,700,000 | [2] | 567,900,000 | |||||||||||||
CANADA | Canada Segment [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Net sales | 434,500,000 | 434,900,000 | 382,000,000 | |||||||||||||||||
Operating Income (Loss) | (19,300,000) | 18,500,000 | 22,400,000 | |||||||||||||||||
Depreciation and amortization | 3,700,000 | 3,900,000 | 3,800,000 | |||||||||||||||||
Goodwill impairments | 28,800,000 | |||||||||||||||||||
Asset impairments | 0 | 0 | 200,000 | |||||||||||||||||
Capital expenditures | 4,400,000 | 4,300,000 | 1,300,000 | |||||||||||||||||
Property, Plant and Equipment, Net | 17,100,000 | 17,400,000 | 17,100,000 | 17,400,000 | 16,100,000 | |||||||||||||||
Total segment assets | 144,400,000 | 187,300,000 | [2] | 144,400,000 | 187,300,000 | [2] | 271,600,000 | |||||||||||||
AUSTRALIA | Australia Segment | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Net sales | 645,400,000 | 702,200,000 | 609,500,000 | |||||||||||||||||
Operating Income (Loss) | (46,500,000) | 34,900,000 | 34,900,000 | |||||||||||||||||
Depreciation and amortization | 9,800,000 | 10,400,000 | 9,400,000 | |||||||||||||||||
Goodwill impairments | 66,400,000 | |||||||||||||||||||
Asset impairments | 200,000 | 300,000 | 0 | |||||||||||||||||
Capital expenditures | 10,500,000 | 10,100,000 | 15,100,000 | |||||||||||||||||
Property, Plant and Equipment, Net | 40,600,000 | 44,200,000 | 40,600,000 | 44,200,000 | 43,400,000 | |||||||||||||||
Total segment assets | $ 301,200,000 | $ 457,500,000 | [2] | 301,200,000 | 457,500,000 | [2] | 434,600,000 | |||||||||||||
Trade Names [Member] | Europe Segment [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Asset impairments | $ 32,500,000 | $ 1,200,000 | $ 9,700,000 | |||||||||||||||||
[1] | (1)Net sales, gross profit and operating earnings (loss) differ from the amounts previously reported in our Quarterly Reports on Form 10-Q as a result of our former Spring Mobile business being classified as discontinued operations for all periods presented. See Note 2, "Discontinued Operations and Dispositions," for additional information. | |||||||||||||||||||
[2] | The total segment assets for the United States and Europe as of fiscal year ended February 3, 2018, have been revised to correct an error. See Note 1, "Nature of Operations and Summary of Significant Accounting Policies," for additional information. |
Unaudited Quarterly Financial_3
Unaudited Quarterly Financial Information - Consolidated Statement of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Feb. 02, 2019 | Nov. 03, 2018 | Aug. 04, 2018 | May 05, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | ||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||||||||
Net sales | $ 3,063 | [1] | $ 1,935.4 | [1] | $ 1,501.1 | [1] | $ 1,785.8 | [1] | $ 3,316 | [1] | $ 1,827.6 | [1] | $ 1,529.5 | [1] | $ 1,874 | [1] | $ 8,285.3 | $ 8,547.1 | $ 7,965 | |||
Gross Profit | 748.8 | [1] | 558.2 | [1] | 470 | [1] | 531.1 | [1] | 864.7 | [1] | 559.8 | [1] | 493.2 | [1] | 567.2 | [1] | 2,308.1 | 2,484.9 | 2,499.9 | |||
Operating earnings (loss) | (232.1) | [1] | (517.9) | [1] | 1.5 | [1] | 46.5 | [1] | 251.1 | [1] | 71.9 | [1] | 26.9 | [1] | 89.3 | [1] | (702) | 439.2 | 481.7 | |||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | (268.5) | (506.9) | (39.8) | 20.4 | 116.9 | 49.7 | 12 | 51.8 | (794.8) | 230.4 | 304.5 | |||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 80.8 | 18.3 | 14.9 | 7.8 | (222.8) | 9.7 | 10.2 | 7.2 | 121.8 | (195.7) | 48.7 | |||||||||||
Consolidated net income (loss) attributable to GameStop Corp. | $ (187.7) | $ (488.6) | $ (24.9) | $ 28.2 | $ (105.9) | $ 59.4 | $ 22.2 | $ 59 | $ (673) | $ 34.7 | $ 353.2 | |||||||||||
Income (Loss) from Continuing Operations, Per Basic Share | $ (2.63) | $ (4.96) | $ (0.39) | $ 0.20 | $ 1.15 | $ 0.49 | $ 0.12 | $ 0.51 | $ (7.79) | $ 2.27 | $ 2.94 | |||||||||||
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share | 0.79 | 0.18 | 0.15 | 0.08 | (2.20) | 0.10 | 0.10 | 0.07 | 1.19 | (1.93) | 0.47 | |||||||||||
Basic earnings (loss) per share | (1.84) | (4.78) | (0.24) | 0.28 | (1.04) | 0.59 | 0.22 | 0.58 | (6.59) | [2] | 0.34 | [2] | 3.42 | [2] | ||||||||
Income (Loss) from Continuing Operations, Per Diluted Share | (2.63) | (4.96) | (0.39) | 0.20 | 1.15 | 0.49 | 0.12 | 0.51 | (7.79) | 2.27 | 2.93 | |||||||||||
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share | 0.79 | 0.18 | 0.15 | 0.08 | (2.19) | 0.10 | 0.10 | 0.07 | 1.19 | (1.93) | 0.47 | |||||||||||
Earnings Per Share, Diluted | (1.84) | (4.78) | (0.24) | 0.28 | (1.04) | 0.59 | 0.22 | 0.58 | (6.59) | [2] | 0.34 | [2] | 3.40 | [2] | ||||||||
Dividends declared per common share | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.38 | $ 0.38 | $ 1.52 | $ 1.52 | $ 1.48 | |||||||||||
Asset Impairment Charges | $ 428.4 | $ 587.5 | $ 13.8 | $ 1,015.9 | $ 395.1 | $ 33.8 | ||||||||||||||||
[1] | (1)Net sales, gross profit and operating earnings (loss) differ from the amounts previously reported in our Quarterly Reports on Form 10-Q as a result of our former Spring Mobile business being classified as discontinued operations for all periods presented. See Note 2, "Discontinued Operations and Dispositions," for additional information. | |||||||||||||||||||||
[2] | (1)The sum of (loss) earnings per share may not total to consolidated (loss) earnings per common share as amounts are calculated based on whole numbers. |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Feb. 02, 2019 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Inventory Valuation Reserve [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Deductions | $ (86.6) | $ (107.8) | $ (99.6) | |
Valuation Allowances and Reserves, Additions for Charges to Other Accounts | 46.7 | 50.7 | 49.6 | |
Valuation Allowances and Reserves, Additions for Charges to Cost and Expense | 50.1 | 57.3 | 47.5 | |
Valuation Allowances and Reserves, Balance | 69.4 | 59.2 | 59 | $ 61.5 |
Valuation Allowance of Deferred Tax Assets [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Deductions | (4) | (6.1) | (0.3) | |
Valuation Allowances and Reserves, Additions for Charges to Cost and Expense | 0 | 3.6 | 20.9 | |
Valuation Allowances and Reserves, Balance | 32.9 | $ 36.9 | $ 39.4 | $ 18.8 |
Discontinued Operations, Disposed of by Sale [Member] | Spring Mobile [Member] | Inventory Valuation Reserve [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Deductions | $ 3.6 |