Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Feb. 01, 2014 | Mar. 20, 2014 | Aug. 02, 2013 |
Document Documentand Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 1-Feb-14 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'GME | ' | ' |
Entity Registrant Name | 'GameStop Corp. | ' | ' |
Entity Central Index Key | '0001326380 | ' | ' |
Current Fiscal Year End Date | '--02-01 | ' | ' |
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 | ' | 115,305,927 | ' |
Entity Public Float | ' | ' | $5,769 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Feb. 01, 2014 | Feb. 02, 2013 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $536.20 | $374.40 |
Receivables, net | 84.4 | 73.6 |
Merchandise inventories, net | 1,198.90 | 1,171.30 |
Deferred income taxes — current | 51.7 | 61.7 |
Prepaid expenses and other current assets | 78.4 | 68.5 |
Total current assets | 1,949.60 | 1,749.50 |
Property and equipment: | ' | ' |
Land | 20.4 | 22.5 |
Buildings and leasehold improvements | 609.6 | 606.4 |
Fixtures and equipment | 841.8 | 926 |
Total property and equipment | 1,471.80 | 1,554.90 |
Less accumulated depreciation and amortization | 995.6 | 1,030.10 |
Net property and equipment | 476.2 | 524.8 |
Goodwill | 1,414.70 | 1,383.10 |
Other intangible assets, net | 194.3 | 153.4 |
Other noncurrent assets | 56.6 | 61.4 |
Total noncurrent assets | 2,141.80 | 2,122.70 |
Total assets | 4,091.40 | 3,872.20 |
Current liabilities: | ' | ' |
Accounts payable | 783.9 | 611.6 |
Accrued liabilities | 861.7 | 738.9 |
Income taxes payable | 78 | 103.4 |
Notes payable | 2.4 | 0 |
Total current liabilities | 1,726 | 1,453.90 |
Deferred income taxes | 37.4 | 31.5 |
Other long-term liabilities | 75 | 100.5 |
Notes payable - long-term | 1.6 | 0 |
Total long-term liabilities | 114 | 132 |
Total liabilities | 1,840 | 1,585.90 |
Commitments and contingencies (Notes 11 and 12) | 0 | 0 |
Stockholders’ equity: | ' | ' |
Preferred stock — authorized 5.0 shares; no shares issued or outstanding | 0 | 0 |
Class A common stock — $.001 par value; authorized 300.0 shares; 115.3 and 128.2 shares issued, 115.3 and 118.2 shares outstanding, respectively | 0.1 | 0.1 |
Additional paid-in-capital | 172.9 | 348.3 |
Accumulated other comprehensive income | 82.5 | 164.4 |
Retained earnings | 1,995.90 | 1,773.50 |
Total stockholders' equity | 2,251.40 | 2,286.30 |
Total liabilities and stockholders’ equity | $4,091.40 | $3,872.20 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Feb. 01, 2014 | Feb. 02, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Class A common stock, par value | $0.00 | $0.00 |
Class A common stock, authorized | 300,000,000 | 300,000,000 |
Class A common stock, issued | 115,300,000 | 128,200,000 |
Class A common stock, shares outstanding | 115,300,000 | 118,200,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Income Statement [Abstract] | ' | ' | ' |
Net sales | $9,039.50 | $8,886.70 | $9,550.50 |
Cost of sales | 6,378.40 | 6,235.20 | 6,871 |
Gross profit | 2,661.10 | 2,651.50 | 2,679.50 |
Selling, general and administrative expenses | 1,892.40 | 1,835.90 | 1,842.10 |
Depreciation and amortization | 166.5 | 176.5 | 186.3 |
Goodwill impairments | 10.2 | 627 | 0 |
Asset impairments and restructuring charges | 18.5 | 53.7 | 81.2 |
Operating earnings (loss) | 573.5 | -41.6 | 569.9 |
Interest income | -0.9 | -0.9 | -0.9 |
Interest expense | 5.6 | 4.2 | 20.7 |
Debt extinguishment expense | 0 | 0 | 1 |
Earnings (loss) before income tax expense | 568.8 | -44.9 | 549.1 |
Income tax expense | 214.6 | 224.9 | 210.6 |
Net income (loss) | 354.2 | -269.8 | 338.5 |
Net loss attributable to noncontrolling interests | 0 | 0.1 | 1.4 |
Net income (loss) attributable to GameStop Corp. | $354.20 | ($269.70) | $339.90 |
Basic net income (loss) per common share attributable to GameStop Corp. | $3.02 | ($2.13) | $2.43 |
Diluted net income (loss) per common share attributable to GameStop Corp. | $2.99 | ($2.13) | $2.41 |
Weighted average shares of common stock outstanding — basic | 117.2 | 126.4 | 139.9 |
Weighted average shares of common stock outstanding — diluted | 118.4 | 126.4 | 141 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income (loss) | $354.20 | ($269.80) | $338.50 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation adjustments | -81.9 | -5.4 | 7.1 |
Total comprehensive income (loss) | 272.3 | -275.2 | 345.6 |
Comprehensive loss attributable to noncontrolling interests | 0 | 0.2 | 1.5 |
Comprehensive income (loss) attributable to GameStop Corp. | $272.30 | ($275) | $347.10 |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Equity (USD $) | Total | Class A Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income | Retained Earnings | Noncontrolling Interest |
In Millions, unless otherwise specified | ||||||
Balance at Jan. 29, 2011 | $2,895.90 | $0.10 | $928.90 | $162.50 | $1,805.80 | ($1.40) |
Balance (in shares) at Jan. 29, 2011 | ' | 146 | ' | ' | ' | ' |
Purchase of subsidiary shares from noncontrolling interest | -0.1 | ' | -1.1 | ' | ' | 1 |
Comprehensive income (loss): | ' | ' | ' | ' | ' | ' |
Net income (loss) | 338.5 | ' | ' | ' | 339.9 | -1.4 |
Foreign currency translation adjustments | 7.1 | ' | ' | 7.2 | ' | -0.1 |
Stock-based compensation | 18.8 | ' | 18.8 | ' | ' | ' |
Repurchases of common stock (in shares) | ' | -11.2 | ' | ' | ' | ' |
Repurchases of common stock | -240.2 | ' | -240.2 | ' | ' | ' |
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants (in shares) | ' | 2 | ' | ' | ' | ' |
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | 20.2 | ' | 20.2 | ' | ' | ' |
Balance at Jan. 28, 2012 | 3,040.20 | 0.1 | 726.6 | 169.7 | 2,145.70 | -1.9 |
Balance (in shares) at Jan. 28, 2012 | ' | 136.8 | ' | ' | ' | ' |
Purchase of subsidiary shares from noncontrolling interest | 0 | ' | -2.1 | ' | ' | 2.1 |
Comprehensive income (loss): | ' | ' | ' | ' | ' | ' |
Net income (loss) | -269.8 | ' | ' | ' | -269.7 | -0.1 |
Foreign currency translation adjustments | -5.4 | ' | ' | -5.3 | ' | -0.1 |
Dividends | -102.5 | ' | ' | ' | -102.5 | ' |
Stock-based compensation | 19.6 | ' | 19.6 | ' | ' | ' |
Repurchases of common stock (in shares) | ' | -19.9 | ' | ' | ' | ' |
Repurchases of common stock | -409.4 | ' | -409.4 | ' | ' | ' |
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants (in shares) | ' | 1.3 | ' | ' | ' | ' |
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | 13.6 | ' | 13.6 | ' | ' | ' |
Balance at Feb. 02, 2013 | 2,286.30 | 0.1 | 348.3 | 164.4 | 1,773.50 | 0 |
Balance (in shares) at Feb. 02, 2013 | ' | 118.2 | ' | ' | ' | ' |
Comprehensive income (loss): | ' | ' | ' | ' | ' | ' |
Net income (loss) | 354.2 | ' | ' | ' | 354.2 | 0 |
Foreign currency translation adjustments | -81.9 | ' | ' | -81.9 | ' | 0 |
Dividends | -131.8 | ' | ' | ' | -131.8 | ' |
Stock-based compensation | 19.4 | ' | 19.4 | ' | ' | ' |
Repurchases of common stock (in shares) | ' | -6.3 | ' | ' | ' | ' |
Repurchases of common stock | -258.3 | ' | -258.3 | ' | ' | ' |
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants (in shares) | ' | 3.4 | ' | ' | ' | ' |
Exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | 63.5 | ' | 63.5 | ' | ' | ' |
Balance at Feb. 01, 2014 | $2,251.40 | $0.10 | $172.90 | $82.50 | $1,995.90 | $0 |
Balance (in shares) at Feb. 01, 2014 | ' | 115.3 | ' | ' | ' | ' |
Consolidated_Statements_Of_Cha1
Consolidated Statements Of Changes In Equity (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' |
Tax benefit for exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | $11.10 | $2 | $2.10 |
Dividends declared per common share | $1.10 | $0.80 | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | $354.20 | ($269.80) | $338.50 |
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities: | ' | ' | ' |
Depreciation and amortization (including amounts in cost of sales) | 169.2 | 178.9 | 188.6 |
Provision for inventory reserves | 40.6 | 43.1 | 31.3 |
Goodwill impairments, asset impairments and restructuring charges | 28.7 | 680.7 | 81.2 |
Stock-based compensation expense | 19.4 | 19.6 | 18.8 |
Deferred income taxes | -2.7 | -58.2 | -25.2 |
Excess tax benefits related to stock-based awards | -12.4 | -1.3 | -1.4 |
Loss on disposal of property and equipment | 7.1 | 13 | 10.9 |
Other | -0.6 | 1.2 | 3.1 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables, net | -1.4 | -8.1 | 1 |
Merchandise inventories | -86.9 | -63.8 | 64.3 |
Prepaid expenses and other current assets | -9.7 | 27.8 | -3.3 |
Prepaid income taxes and income taxes payable | -19.8 | 25.9 | 17.6 |
Accounts payable and accrued liabilities | 302.4 | 25.9 | -87.4 |
Changes in Other long-term liabilities | -25.4 | -4.7 | 3.8 |
Net cash flows provided by operating activities | 762.7 | 610.2 | 641.8 |
Cash flows from investing activities: | ' | ' | ' |
Purchase of property and equipment | -125.6 | -139.6 | -165.1 |
Acquisitions, net of cash acquired | -77.4 | -1.5 | -30.1 |
Other | -4.5 | -11.6 | -6.4 |
Net cash flows used in investing activities | -207.5 | -152.7 | -201.6 |
Cash flows from financing activities: | ' | ' | ' |
Repayment of acquisition-related debt | -31.8 | 0 | 0 |
Repurchase of notes payable | 0 | 0 | -250 |
Repurchase of common shares | -258.3 | -409.4 | -262.1 |
Dividends paid | -130.9 | -102 | 0 |
Borrowings from the revolver | 130 | 81 | 35 |
Repayments of revolver borrowings | -130 | -81 | -35 |
Exercise of stock options, net of share repurchases for withholdings taxes | 58 | 11.6 | 18.1 |
Excess tax benefits related to stock-based awards | 12.4 | 1.3 | 1.4 |
Net cash flows used in financing activities | -350.6 | -498.5 | -492.6 |
Exchange rate effect on cash and cash equivalents | -42.8 | -0.4 | 13.7 |
Increase (decrease) in cash and cash equivalents | 161.8 | -41.4 | -38.7 |
Cash and cash equivalents at beginning of period | 374.4 | 415.8 | 454.5 |
Cash and cash equivalents at end of period | $536.20 | $374.40 | $415.80 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
1 | Nature of Operations and Summary of Significant Accounting Policies | ||||||||||||
Background | |||||||||||||
GameStop Corp. (“GameStop,” “we,” “us,” “our,” or the “Company”) is a global, multichannel video game, consumer electronics and wireless services retailer and is the world’s largest multichannel video game retailer. We sell new and pre-owned video game hardware, physical and digital video game software, video game accessories, mobile and consumer electronics as well as other merchandise primarily through our GameStop, EB Games and Micromania stores. We sell mobile and consumer electronics primarily through our Spring Mobile and Simply Mac stores. Our stores, which totaled 6,675 at February 1, 2014, are located in major regional shopping malls and strip centers. We also operate electronic commerce Web sites at www.gamestop.com, www.ebgames.com.au, www.ebgames.co.nz, www.gamestop.ca, www.gamestop.it, www.gamestop.es, www.gamestop.ie, www.gamestop.de, www.gamestop.co.uk and www.micromania.fr. In addition, we publish Game Informer magazine, operate the online video gaming Web site www.kongregate.com, a digital PC game distribution platform available at www.gamestop.com/pcgames, iOS and Android mobile applications and an online consumer electronics marketplace available at www.buymytronics.com. We operate our business in four Video Game Brands segments: United States, Canada, Australia and Europe, and a Technology Brands segment, which was added in the fourth quarter of fiscal 2013 and includes the operations of our Spring Mobile, Simply Mac, and Aio Wireless businesses. | |||||||||||||
Our largest vendors worldwide are Sony Computer Entertainment, Microsoft, Nintendo, Electronic Arts, Inc. and Activision, which accounted for 20%, 15%, 12%, 10% and 10%, respectively, of our new product purchases in fiscal 2013, 17%, 13%, 14%, 11% and 16%, respectively, in fiscal 2012 and 15%, 17%, 16%, 13% and 11%, respectively, in fiscal 2011. In addition, Take-Two Interactive accounted for 11% of our new product purchases in fiscal 2013. | |||||||||||||
Basis of Presentation and Consolidation | |||||||||||||
Our consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries and our majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. All dollar and share amounts (other than dollar amounts per share) in the consolidated financial statements are stated in millions unless otherwise indicated. | |||||||||||||
Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal 2013 consisted of the 52 weeks ended on February 1, 2014. Fiscal 2012 consisted of the 53 weeks ended on February 2, 2013. Fiscal 2011 consisted of the 52 weeks ended on January 28, 2012. | |||||||||||||
We have revised the presentation of outstanding checks in our prior period financial statements. Previously, we reduced cash and liabilities when the checks were presented for payment and cleared our bank accounts. As of February 1, 2014, we reduce cash and liabilities when the checks are released for payment. | |||||||||||||
The impacts of revising our financial statements for the specified prior periods are as follows: | |||||||||||||
As Previously Reported | Revision | As Revised | |||||||||||
(In millions) | |||||||||||||
Consolidated Balance Sheets: | |||||||||||||
As of February 2, 2013 | |||||||||||||
Cash and cash equivalents | $ | 635.8 | $ | (261.4 | ) | $ | 374.4 | ||||||
Total current assets | 2,010.90 | (261.4 | ) | 1,749.50 | |||||||||
Total assets | 4,133.60 | (261.4 | ) | 3,872.20 | |||||||||
Accounts payable | 870.9 | (259.3 | ) | 611.6 | |||||||||
Accrued liabilities | 741 | (2.1 | ) | 738.9 | |||||||||
Total current liabilities | 1,715.30 | (261.4 | ) | 1,453.90 | |||||||||
Total liabilities | 1,847.30 | (261.4 | ) | 1,585.90 | |||||||||
As Previously Reported | Revision | As Revised | |||||||||||
(In millions) | |||||||||||||
Consolidated Statements of Cash Flows: | |||||||||||||
For the 53 weeks ended February 2, 2013 | |||||||||||||
Changes in operating assets and liabilities: | |||||||||||||
Accounts payable and accrued liabilities | $ | 48.1 | $ | (22.2 | ) | $ | 25.9 | ||||||
Net cash flows provided by operating activities | 632.4 | (22.2 | ) | 610.2 | |||||||||
Cash and cash equivalents at beginning of period | 655 | (239.2 | ) | 415.8 | |||||||||
Cash and cash equivalents at end of period | 635.8 | (261.4 | ) | 374.4 | |||||||||
For the 52 weeks ended January 28, 2012 | |||||||||||||
Changes in operating assets and liabilities: | |||||||||||||
Accounts payable and accrued liabilities | (104.5 | ) | 17.1 | (87.4 | ) | ||||||||
Net cash flows provided by operating activities | 624.7 | 17.1 | 641.8 | ||||||||||
Cash and cash equivalents at beginning of period | 710.8 | (256.3 | ) | 454.5 | |||||||||
Cash and cash equivalents at end of period | 655 | (239.2 | ) | 415.8 | |||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
We consider all short-term, highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Our cash and cash equivalents are carried at cost, which approximates market value, and consist primarily of time deposits with highly rated commercial banks. From time to time depending upon interest rates, credit worthiness and other factors, we invest in money market investment funds holding direct U.S. Treasury obligations. | |||||||||||||
Restricted Cash | |||||||||||||
We consider bank deposits serving as collateral for bank guarantees issued on behalf of our foreign subsidiaries as restricted cash, which is included in other noncurrent assets in our consolidated balance sheets. Our restricted cash was $16.4 million and $13.4 million as of February 1, 2014 and February 2, 2013, 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. In valuing inventory, we are required to make assumptions regarding the necessity of reserves required to value potentially obsolete or over-valued items at the lower of cost or market. We consider quantities on hand, recent sales, potential price protections and returns to vendors, among other factors, when making these assumptions. | |||||||||||||
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 1, 2014 and February 2, 2013 were $76.5 million and $83.8 million, respectively. | |||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation on furniture, fixtures and equipment is computed using the straight-line method over their estimated useful lives ranging from two to ten years. Maintenance and repairs are expensed as incurred, while betterments and major remodeling costs are capitalized. Leasehold improvements are capitalized and amortized over the shorter of their estimated useful lives or the terms of the respective leases, including option periods in which the exercise of the option is reasonably assured (generally ranging from three to ten years). Costs incurred in purchasing management information systems are capitalized and included in property and equipment. These costs are amortized over their estimated useful lives from the date the systems become operational. Our total depreciation expense was $152.9 million, $163.1 million and $172.2 million during fiscal 2013, fiscal 2012 and fiscal 2011, respectively. | |||||||||||||
We periodically review our property and equipment when events or changes in circumstances indicate that their carrying amounts may not be recoverable or their 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 would be recognized for the amount by which the carrying amount of the assets exceeds their fair value, as approximated by the present value of their projected discounted cash flows. We recorded impairment losses of $18.5 million, $8.8 million and $11.2 million in fiscal 2013, fiscal 2012 and fiscal 2011, respectively. See Note 2 for further information regarding our asset impairment charges. | |||||||||||||
Goodwill | |||||||||||||
Goodwill represents the excess purchase price over net identifiable assets acquired. Our management is required to evaluate goodwill and other intangible assets not subject to amortization for impairment at least annually. This annual test is completed as of the beginning of the fourth quarter each fiscal year or when circumstances indicate the carrying value of the goodwill or other intangible assets might be impaired. Goodwill has been assigned to reporting units for the purpose of impairment testing. We have five operating and reportable segments, including Video Game Brands in the United States, Australia, Canada and Europe, and Technology Brands in the United States, which also define our reporting units based upon the similar economic characteristics of operations within each segment, including the nature of products, product distribution and the type of customer and separate management within those regions. | |||||||||||||
We estimate the fair value of each reporting unit based on the discounted cash flows of each reporting unit. We use a two-step process to measure any potential goodwill impairment. If the fair value of the reporting unit is higher than its carrying value, then goodwill is not impaired. If the carrying value of the reporting unit is higher than the fair value, then the second step of the goodwill impairment test is needed. The second step compares the implied fair value of the reporting unit’s goodwill with its carrying amount. The implied fair value of goodwill is determined in step two of the goodwill impairment test by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation used in a business combination and the residual fair value after this allocation is the implied fair value of the reporting unit’s goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of its goodwill, then an impairment loss is recognized in the amount of the excess. | |||||||||||||
During the third quarter of fiscal 2012, our management determined that sufficient indicators of potential impairment existed to require an interim goodwill impairment test. As a result of the interim goodwill impairment test, we recorded non-cash, non-tax deductible goodwill impairments for the third quarter of fiscal 2012 of $107.1 million, $100.3 million and $419.6 million in our Australia, Canada and Europe reporting units, respectively, to reduce the carrying value of goodwill. | |||||||||||||
We completed the annual impairment test of goodwill as of the first day of the fourth quarter of fiscal 2011, fiscal 2012 and fiscal 2013 and concluded that none of our goodwill was impaired. For the fiscal 2013 annual impairment test, Technology Brands was excluded since it commenced operations during the fourth quarter and therefore was not a reporting unit subject to assessment as of our annual testing date. For our United States, Canada and Australia reporting units, the calculated fair value of each of these reporting units exceeded their carrying values by more than 20% and the calculated fair value of our Europe reporting unit exceeded its carrying value by more than 10%. For fiscal 2013, there was a $10.2 million goodwill write-off in the United States Video Game Brands segment as a result of abandoning our investment in Spawn Labs. For fiscal 2011, there was a $3.3 million goodwill write-off in the United States Video Game Brands segment as a result of the exiting of a non-core business. Note 9 provides additional information concerning the changes in goodwill for the consolidated financial statements presented. | |||||||||||||
Other Intangible Assets | |||||||||||||
Other intangible assets consist primarily of trade names, leasehold rights, advertising relationships, dealer agreements and amounts attributed to favorable leasehold interests recorded as a result of business acquisitions. 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. The estimated useful life and amortization methodology of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows. Intangible assets that are determined to have a definite life are amortized over that period. Leasehold rights which were recorded as a result of the purchase of SFMI Micromania SAS (“Micromania”) 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. Advertising relationships, which were recorded as a result of digital acquisitions, are relationships with existing advertisers who pay to place ads on our digital Web sites and are amortized on a straight-line basis over 10 years. Favorable leasehold interests represent the value of the contractual monthly rental payments that are less than the current market rent at stores acquired as part of the Micromania acquisition or the EB merger. Favorable leasehold interests are amortized on a straight-line basis over their remaining lease term with no expected residual value. | |||||||||||||
Intangible assets that are determined to have an indefinite life are not amortized, but are required to be evaluated at least annually for impairment. Trade names which were recorded as a result of acquisitions, primarily Micromania, are considered indefinite-lived intangible assets as they are expected to contribute to cash flows indefinitely and are not subject to amortization, but are subject to annual impairment testing. If the carrying value of an individual indefinite-lived intangible asset exceeds its fair value as determined by its discounted cash flows, such individual indefinite-lived intangible asset is written down by the amount of the excess. | |||||||||||||
During the third quarter of fiscal 2012, our management determined that sufficient indicators of potential impairment existed to require an interim impairment test of our Micromania trade name. As a result of the interim impairment test of the Micromania trade name, we recorded a $44.9 million impairment charge during the third quarter of fiscal 2012. We completed the annual impairment tests of indefinite-lived intangible assets as of the first day of the fourth quarter of fiscal 2013 and fiscal 2012 and concluded that none of our intangible assets were impaired. We completed the annual impairment test of indefinite-lived intangible assets as of the first day of the fourth quarter of fiscal 2011 and concluded that the Micromania trade name was impaired due to revenue forecasts that had declined since the initial valuation. As a result, we recorded a $37.8 million impairment charge for fiscal 2011. The impairment charges are recorded in asset impairments and restructuring charges in our consolidated statements of operations and are recorded in the Europe segment. See Note 9. | |||||||||||||
Revenue Recognition | |||||||||||||
Revenue from the sales of our products is recognized at the time of sale, net of sales discounts and net of an estimated sales return reserve, based on historical return rates, with a corresponding reduction in cost of sales. Our sales return policy is generally limited to less than 30 days and as such our sales returns are, and have historically been, immaterial. | |||||||||||||
The sales of pre-owned video game products are recorded at the retail price charged to the customer. Advertising revenues for Game Informer are recorded upon release of magazines for sale to consumers. Subscription revenues for our PowerUp Rewards loyalty program and magazines are recognized on a straight-line basis over the subscription period. Revenue from the sales of product replacement plans is recognized on a straight-line basis over the coverage period. The deferred revenues for our PowerUp Rewards loyalty program, gift cards, customer credits, magazines and product replacement plans are included in accrued liabilities (see Note 8). Gift cards sold to customers are recognized as a liability on the consolidated balance sheet until redeemed or until a reasonable point at which breakage related to non-redemption can be recognized. | |||||||||||||
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 on the sale of these digital products. | |||||||||||||
Revenues do not include sales taxes or other taxes collected from customers. | |||||||||||||
Cost of Sales and Selling, General and Administrative Expenses Classification | |||||||||||||
The classification of cost of sales and selling, general and administrative expenses varies across the retail industry. We include purchasing, receiving and distribution costs in selling, general and administrative expenses, rather than cost of goods sold, in the consolidated statements of operations. For the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, these purchasing, receiving and distribution costs amounted to $56.4 million, $58.8 million and $61.7 million, respectively. | |||||||||||||
We include processing fees associated with purchases made by check and credit cards in cost of sales, rather than selling, general and administrative expenses, in the consolidated statements of operations. For the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, these processing fees amounted to $61.5 million, $54.2 million and $65.1 million, respectively. | |||||||||||||
Customer Liabilities | |||||||||||||
We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed. In addition, breakage is recognized quarterly on unused customer liabilities older than two years to the extent that our management believes the likelihood of redemption by the customer is remote, based on historical redemption patterns. Breakage has historically been immaterial. To the extent that future redemption patterns differ from those historically experienced, there will be variations in the recorded breakage. | |||||||||||||
Advertising Expenses | |||||||||||||
We expense advertising costs for newspapers and other media when the advertising takes place. Advertising expenses for television, newspapers and other media during the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012 were $57.8 million, $63.9 million and $65.0 million, respectively. | |||||||||||||
Loyalty Expenses | |||||||||||||
The PowerUp Rewards loyalty program, introduced in May 2010, allows enrolled members to earn points on purchases that can be redeemed for rewards that include discounts or merchandise. We estimate the net cost of the rewards that will be issued and redeemed and record this cost and the associated balance sheet reserve as points are accumulated by loyalty program members. The two primary estimates utilized to record the balance sheet reserve for loyalty points earned by members are the estimated redemption rate and the estimated weighted-average cost per point redeemed. Our management uses historical redemption rates experienced under the loyalty program as a basis to estimate the ultimate redemption rate of points earned. A weighted-average cost per point redeemed is used to estimate future redemption costs. The weighted-average cost per point redeemed is based on our most recent actual costs incurred to fulfill points that have been redeemed by our loyalty program members and is adjusted as appropriate for recent changes in redemption costs, including the mix of rewards redeemed. We continually evaluate our reserve methodology and assumptions based on developments in redemption patterns, cost per point redeemed and other factors. Changes in the ultimate redemption rate and weighted-average cost per point redeemed have the effect of either increasing or decreasing the reserve through the current period provision by an amount estimated to cover the cost of all points previously earned but not yet redeemed by loyalty program members as of the end of the reporting period. | |||||||||||||
Historically, the cost was recognized in selling, general and administrative expenses and the associated liability was included in accrued liabilities. However, in the fourth quarter of 2013, we determined that the net cost of the rewards that will be issued and redeemed would be better presented as cost of sales. The cost of administering the loyalty program, including program administration fees, program communications and cost of loyalty cards, will continue to be recognized in selling, general and administrative expenses. The cost of free or discounted products recognized in cost of sales for the 52 weeks ended February 1, 2014 was $18.2 million. The cost of free or discounted products for the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012 was $31.2 million and $37.8 million, respectively, all of which was recorded in selling, general and administrative expenses as discussed above. The reserve is released when loyalty program members redeem their respective points and the corresponding rewards are recorded to cost of goods sold in the period of redemption. | |||||||||||||
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. 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 13). | |||||||||||||
We plan on permanently reinvesting our undistributed foreign earnings outside the United States. Where foreign earnings are permanently reinvested, no provision for federal income or foreign withholding taxes is made. Should we have undistributed foreign earnings that are not permanently reinvested, United States income tax expense and foreign withholding taxes will be provided for at the time the earnings are generated. | |||||||||||||
Lease Accounting | |||||||||||||
We lease retail stores, warehouse facilities, office space and equipment. These are generally leased under noncancelable agreements that expire at various dates through 2034 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. | |||||||||||||
Foreign Currency Translation | |||||||||||||
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. Transaction and derivative net gains (losses) are included in selling, general and administrative expenses and were $3.3 million, $2.5 million and $(0.6) million for the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, 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. The foreign currency transaction gains and (losses) are primarily due to fluctuations in the value of the U.S. dollar compared to the Australian dollar, Canadian dollar and euro. | |||||||||||||
We use forward exchange contracts, foreign currency options and cross-currency swaps (together, the “foreign currency contracts”) to manage currency risk 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 (see Note 6). | |||||||||||||
New Accounting Pronouncements | |||||||||||||
In July 2013, the Financial Accounting Standards Board ("FASB") issued an Accounting Standards Update (“ASU”) related to the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The ASU requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as either a reduction to a deferred tax asset or separately as a liability depending on the existence, availability and/or use of an operating loss carryforward, a similar tax loss, or a tax credit carryforward. This ASU will be effective for us beginning the first quarter of 2014. We do not expect that this ASU will have an impact on our consolidated financial statements as we currently do not have any unrecognized tax benefits in the same jurisdictions in which we have tax loss or credit carryovers. | |||||||||||||
In March 2013, the FASB issued an ASU providing guidance with respect to the release of cumulative translation adjustments into net income when a parent company sells either a part or all of an investment in a foreign entity. The ASU requires the release of cumulative translation adjustments when a company no longer holds a controlling financial interest in a foreign subsidiary or a group of assets that constitutes a business within a foreign entity. This ASU will be effective for us beginning the first quarter of 2014. We are evaluating the effect of this ASU, but do not expect it to have a significant impact on our Consolidated Financial Statements. | |||||||||||||
In February 2013, the FASB issued an ASU related to the reporting and disclosure of amounts reclassified out of accumulated other comprehensive income by component. An entity is required to present either on the face of the statement of operations or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified to net income in its entirety in the same reporting period. For amounts not reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional detail about those amounts. This ASU was effective for our annual and interim periods beginning in fiscal 2013. The ASU had no effect on our consolidated financial statements as we have a single component of other comprehensive income, currency translation adjustments, which is not reclassified to net income. |
Asset_Impairments_and_Restruct
Asset Impairments and Restructuring Charges | 12 Months Ended | ||||||||||||||||||||
Feb. 01, 2014 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Asset Impairments and Restructuring Charges | ' | ||||||||||||||||||||
2 | Asset Impairments and Restructuring Charges | ||||||||||||||||||||
Fiscal 2013 | |||||||||||||||||||||
We recognized impairment charges of $9.0 million in fiscal 2013 related to our evaluation of store property, equipment and other assets in situations where the asset’s carrying value was not expected to be recovered by its future cash flows over its remaining useful life. We used a discounted cash flow method to estimate the present value of net cash flows that the fixed asset or fixed asset group is expected to generate in determining its fair value. The key inputs to the discounted cash flow model generally included our forecasts of net cash generated from revenue, expenses and other significant cash outflows, such as capital expenditures, as well as an appropriate discount rate. | |||||||||||||||||||||
Additionally, we made a decision during the fourth quarter of fiscal 2013 to abandon our Spawn Labs business and related technology assets. As a result of this decision, we recorded impairment charges of $2.1 million related to other intangible assets and $7.4 million related to certain technology assets in connection with the exit of the Spawn Labs business, which are reflected in the asset impairments and restructuring charges line item in our consolidated statements of operations. Additionally, because we never integrated Spawn Labs into our United States Video Game Brands reporting unit, our decision to exit this business triggered an interim impairment test that resulted in a goodwill impairment charge of $10.2 million, which is reflected in the goodwill impairments line item in our consolidated statements of operations. | |||||||||||||||||||||
A summary of our asset impairment charges, by reportable segment, for the 52 weeks ended February 1, 2014 is as follows: | |||||||||||||||||||||
United States Video Game Brands | Europe Video Game Brands | Total | |||||||||||||||||||
(In millions) | |||||||||||||||||||||
Goodwill impairments | $ | 10.2 | $ | — | $ | 10.2 | |||||||||||||||
Impairment of intangible assets | 2.1 | — | 2.1 | ||||||||||||||||||
Impairment of technology assets | 7.4 | — | 7.4 | ||||||||||||||||||
Impairments of property, equipment and other assets - store impairments | 4.3 | 4.7 | 9 | ||||||||||||||||||
Total | $ | 24 | $ | 4.7 | $ | 28.7 | |||||||||||||||
There were no restructuring charges for the 52 weeks ended February 1, 2014, and we did not have any amounts accrued for termination benefits as of February 1, 2014. An immaterial amount of termination benefits related to our restructuring initiatives was recorded within accrued liabilities in our consolidated balance sheet as of February 2, 2013, all of which was paid during fiscal 2013. | |||||||||||||||||||||
Fiscal 2012 | |||||||||||||||||||||
During the third quarter of fiscal 2012, we recorded a $44.9 million impairment charge as a result of our interim impairment test of our Micromania trade name, which is described more fully in Note 9. The fair value of the Micromania trade name was calculated using a relief-from-royalty approach, which assumes the fair 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. | |||||||||||||||||||||
In fiscal 2012, we also recorded impairments of finite-lived assets of $8.8 million consisting primarily of the remaining net book value of assets for stores we are in the process of closing or that we have determined will not have sufficient cash flow on an undiscounted basis to cover the remaining net book value of assets recorded for that store. | |||||||||||||||||||||
A summary of our asset impairment charges, by reportable segment, for the 53 weeks ended February 2, 2013 is as follows: | |||||||||||||||||||||
United States Video Game Brands | Canada Video Game Brands | Australia Video Game Brands | Europe Video Game Brands | Total | |||||||||||||||||
(In millions) | |||||||||||||||||||||
Goodwill impairments | $ | — | $ | 100.3 | $ | 107.1 | $ | 419.6 | $ | 627 | |||||||||||
Impairment of intangible assets | — | — | — | 44.9 | 44.9 | ||||||||||||||||
Impairments of property, equipment and other assets - store impairments | 5.7 | 0.4 | 0.2 | 2.5 | 8.8 | ||||||||||||||||
Total | $ | 5.7 | $ | 100.7 | $ | 107.3 | $ | 467 | $ | 680.7 | |||||||||||
There were no restructuring charges during the fiscal year ended February 2, 2013. | |||||||||||||||||||||
Fiscal 2011 | |||||||||||||||||||||
In the fourth quarter of fiscal 2011, we recorded total asset impairments and restructuring charges of $81.2 million, of which $37.8 million was recorded as a result of the annual impairment test of our Micromania trade name. The fair value of the Micromania trade name was calculated using a relief-from-royalty approach. See Note 9 for further information regarding the trade name impairment. In addition, $22.7 million was recorded related to the impairment of investments in non-core businesses, primarily a small retail movie chain of stores owned by us until fiscal 2011. We also incurred restructuring charges in the fourth quarter of fiscal 2011 related to the exit of certain markets in Europe and the closure of underperforming stores in the international segments, as well as the consolidation of European home office sites and back-office functions. These restructuring charges were a result of our management’s plan to rationalize the international store base and improve profitability. In addition, we recognized impairment charges related to our evaluation of store property, equipment and other assets in situations where the asset’s carrying value was not expected to be recovered by its future cash flows over its remaining useful life. | |||||||||||||||||||||
A summary of our asset impairments and restructuring charges, by reportable segment, for the 52 weeks ended January 28, 2012 is as follows: | |||||||||||||||||||||
United States Video Game Brands | Canada Video Game Brands | Australia Video Game Brands | Europe Video Game Brands | Total | |||||||||||||||||
(In millions) | |||||||||||||||||||||
Impairment of intangible assets | $ | — | $ | — | $ | — | $ | 37.8 | $ | 37.8 | |||||||||||
Impairment of investments in non-core businesses | 22.7 | — | — | — | 22.7 | ||||||||||||||||
Impairments of property, equipment and other assets - store impairments | 3.2 | 1.1 | 0.5 | 6.4 | 11.2 | ||||||||||||||||
Termination benefits | 3 | 0.2 | — | 2.4 | 5.6 | ||||||||||||||||
Facility closure and other costs | — | — | 0.1 | 3.8 | 3.9 | ||||||||||||||||
Total | $ | 28.9 | $ | 1.3 | $ | 0.6 | $ | 50.4 | $ | 81.2 | |||||||||||
Acquisitions
Acquisitions | 12 Months Ended | ||||
Feb. 01, 2014 | |||||
Business Combinations [Abstract] | ' | ||||
Acquisitions | ' | ||||
3 | Acquisitions | ||||
Fiscal 2013 Acquisition Activity | |||||
Simply Mac -- In October 2012, we acquired a minority equity ownership interest in Simply Mac, which operates Apple specialist retail stores in Utah and Wyoming. The original equity investment was structured with an option whereby we could acquire the remaining ownership interest in Simply Mac's equity for a pre-negotiated price at a future point in time. Pursuant to this arrangement, in November 2013, we acquired the remaining 50.1% interest in Simply Mac for a purchase price of $9.5 million. | |||||
Spring Mobile -- In November 2013, we purchased Spring Communications, Inc. ("Spring Mobile"), a wireless retailer, for a purchase price of $62.6 million. As shown in the table below, the liabilities assumed in the acquisition included $34.5 million in term loans and a line of credit, of which $31.9 million, including interest, was repaid shortly after the acquisition date. | |||||
A summary of the fair values of the assets acquired and liabilities assumed in connection with the Spring Mobile acquisition is included in the table below. We determined the fair values based, in part, on a third-party valuation of the net assets acquired, which includes identifiable intangible assets of $39.6 million. | |||||
Assets acquired | |||||
Current assets | $ | 19 | |||
Property and equipment | 8.5 | ||||
Identifiable intangible assets | 39.6 | ||||
Goodwill | 50.2 | ||||
Liabilities assumed | |||||
Current liabilities, excluding current portion of debt | (11.4 | ) | |||
Debt obligations, including current portion | (34.5 | ) | |||
Other long-term liabilities | (8.8 | ) | |||
Total purchase price | $ | 62.6 | |||
The excess of the net purchase price over the fair value of the net identifiable assets acquired of $50.2 million was recorded as goodwill as illustrated in the table above. The goodwill, which is not deductible for tax purposes, represents a value attributable to the position Spring Mobile holds as a top reseller of AT&T and its position in the marketplace which affords it the ability to acquire smaller retailers and grow its retail network. As of February 1, 2014, we had not completed the final fair value assignments and continue to analyze certain matters primarily related to the valuation of intangible assets. | |||||
In connection with our acquisition of Spring Mobile, we assumed a promissory note that Spring Mobile had previously entered into related to its prior purchase of certain wireless stores. The promissory note has a remaining term of approximately two years and had a carrying value of $4.0 million at February 1, 2014. | |||||
During the fourth quarter of 2014, Spring Mobile acquired four immaterial AT&T distributors for total consideration of $7.6 million. | |||||
We believe that Simply Mac and Spring Mobile represent important strategic growth opportunities for us within the specialty retail marketplace and also provide avenues for diversification relative to our core operations in the video game retail marketplace. The operating results of Simply Mac and Spring Mobile have been included in our consolidated financial statements beginning on the respective closing dates of each acquisition and are reported in our Technology Brands segment. The pro forma effect assuming these acquisitions were made at the beginning of each fiscal year presented herein is not material to our consolidated financial statements. | |||||
Acquisition Activity in Fiscal 2012 and Fiscal 2011 | |||||
During fiscal 2012, we completed acquisitions with a total consideration of $1.5 million, with the excess of the purchase price over the net identifiable assets acquired, in the amount of $1.5 million recorded as goodwill. During fiscal 2011, we completed acquisitions with a total consideration of $30.1 million, with the excess of the purchase price over the net identifiable assets acquired, in the amount of $26.9 million, recorded as goodwill. We included the results of operations of the acquisitions, which were not material, in the financial statements beginning on the closing date of each respective acquisition. The pro forma effect assuming these acquisitions were made at the beginning of each fiscal year is not material to our consolidated financial statements. Note 9 provides additional information concerning goodwill and intangible assets. |
Vendor_Arrangements
Vendor Arrangements | 12 Months Ended | |
Feb. 01, 2014 | ||
Text Block [Abstract] | ' | |
Vendor Arrangements | ' | |
4 | Vendor Arrangements | |
We and approximately 45 of our 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 was 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. | ||
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. | ||
For fiscal 2013, we reclassified certain costs from selling, general and administrative expenses to cost of sales related to cash consideration received from our vendors to align those funds with the specific products we sell. Vendor allowances of $221.0 million were recorded as a reduction of cost of sales for the 52 week period ended February 1, 2014. For the 53 week period ended February 2, 2013 and the 52 week period ended January 28, 2012, vendor allowances recorded as a reduction of costs of sales and selling, general and administrative expenses, were $134.8 million and $90.4 million and $99.0 million and $120.9 million, respectively. |
Computation_of_Net_Income_Loss
Computation of Net Income (Loss) per Common Share | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computation of Net Income (Loss) per Common Share | ' | ||||||||||||
5 | Computation of Net Income (Loss) per Common Share | ||||||||||||
Basic net income (loss) per common share is computed by dividing the net income (loss) 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 (loss) per common share is as follows: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions, except per share data) | |||||||||||||
Net income (loss) attributable to GameStop Corp. | $ | 354.2 | $ | (269.7 | ) | $ | 339.9 | ||||||
Weighted average common shares outstanding | 117.2 | 126.4 | 139.9 | ||||||||||
Dilutive effect of options and restricted shares on common stock | 1.2 | — | 1.1 | ||||||||||
Common shares and dilutive potential common shares | 118.4 | 126.4 | 141 | ||||||||||
Net income (loss) per common share: | |||||||||||||
Basic | $ | 3.02 | $ | (2.13 | ) | $ | 2.43 | ||||||
Diluted | $ | 2.99 | $ | (2.13 | ) | $ | 2.41 | ||||||
The weighted average outstanding shares of Class A Common Stock for basic and diluted net loss per common share during the 53 weeks ended February 2, 2013 were the same as we incurred a net loss from continuing operations during that period and any effect on loss per share would have been antidilutive. | |||||||||||||
The following table contains information on share-based awards of Class A Common Stock which were excluded from the computation of diluted earnings per share because their effects were antidilutive: | |||||||||||||
Anti- | |||||||||||||
Dilutive | |||||||||||||
Shares | |||||||||||||
(In millions) | |||||||||||||
52 Weeks Ended February 1, 2014 | 1.5 | ||||||||||||
53 Weeks Ended February 2, 2013 | 3.3 | ||||||||||||
52 Weeks Ended January 28, 2012 | 2.5 | ||||||||||||
Fair_Value_Measurements_and_Fi
Fair Value Measurements and Financial Instruments | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Measurements and Financial Instruments | ' | ||||||||||||
6 | Fair Value Measurements and Financial Instruments | ||||||||||||
Recurring Fair Value Measurements and Derivative 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. Fair value accounting guidance applies to our foreign currency contracts, life insurance policies we own that have a cash surrender value and certain nonqualified deferred compensation liabilities that are measured at fair value on a recurring basis in periods subsequent to initial recognition. | |||||||||||||
Fair value accounting guidance requires 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. | |||||||||||||
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 The Wall Street Journal, 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. When appropriate, valuations are adjusted to reflect credit considerations, generally based on available market evidence. | |||||||||||||
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): | |||||||||||||
1-Feb-14 | 2-Feb-13 | ||||||||||||
Level 2 | Level 2 | ||||||||||||
Assets | |||||||||||||
Foreign currency contracts | |||||||||||||
Other current assets | $ | 0.9 | $ | 7.3 | |||||||||
Other noncurrent assets | 0.5 | 0.9 | |||||||||||
Life insurance policies we own1 | 7.1 | 3.5 | |||||||||||
Total assets | $ | 8.5 | $ | 11.7 | |||||||||
Liabilities | |||||||||||||
Foreign currency contracts | |||||||||||||
Accrued liabilities | $ | 21.3 | $ | 9.1 | |||||||||
Other long-term liabilities | 2.2 | 4.4 | |||||||||||
Nonqualified deferred compensation2 | 1.1 | 0.9 | |||||||||||
Total liabilities | $ | 24.6 | $ | 14.4 | |||||||||
____________________ | |||||||||||||
1 Recognized in other non-current assets in our consolidated balance sheets. | |||||||||||||
2 Recognized in accrued liabilities in our consolidated balance sheets. | |||||||||||||
We use foreign currency contracts, including forward exchange contracts, foreign currency options and cross-currency swaps, to manage currency risk 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 $640.6 million and $669.9 million as of February 1, 2014 and February 2, 2013, respectively. | |||||||||||||
Activity related to the trading of derivative instruments and the offsetting impact of related intercompany loans and foreign currency assets and liabilities recognized in selling, general and administrative expense is as follows (in millions): | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
Gains (losses) on the changes in fair value of derivative instruments | $ | (20.3 | ) | $ | (19.8 | ) | $ | 13.5 | |||||
Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities | 23.6 | 22.3 | (14.1 | ) | |||||||||
Total | $ | 3.3 | $ | 2.5 | $ | (0.6 | ) | ||||||
We do not use derivative financial instruments for trading or speculative purposes. We are exposed to counterparty credit risk on all of our derivative financial instruments and cash equivalent investments. We manage counterparty risk according to the guidelines and controls established under comprehensive risk management and investment policies. We continuously monitor our counterparty credit risk and utilize a number of different counterparties to minimize our exposure to potential defaults. We do not require collateral under derivative or investment agreements. | |||||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||
In addition to assets and liabilities that are recorded at fair value on a recurring basis, we recorded certain assets and liabilities at fair value on a nonrecurring basis as required by GAAP. Assets and liabilities that are measured at fair value on a nonrecurring basis related primarily to our tangible property and equipment, goodwill and other intangible assets. | |||||||||||||
During fiscal 2013, we recorded a $28.7 million impairment charge related to assets measured at fair value on a nonrecurring basis, comprised of $16.4 million of property and equipment impairments, $10.2 million of goodwill impairments and $2.1 million of other intangible asset impairments. During fiscal 2012, we recorded a $680.7 million impairment charge related to assets measured at fair value on a nonrecurring basis, comprised of $627 million of goodwill impairments, $44.9 million of trade name impairment and $8.8 million of property and equipment impairments. When recognizing an impairment charge, the carrying value of the asset is reduced to fair value and the difference is recorded within operating earnings in our consolidated statements of operations. The fair value measurements included in the goodwill, trade name and property and equipment impairments were primarily based on significant unobservable inputs (Level 3) developed using company-specific information. See Note 9 for further information associated with the goodwill and trade name impairments and Note 2 for further information associated with the property and equipment impairments. | |||||||||||||
Additionally, we recorded the fair value of net assets acquired and liabilities assumed in connection with the Spring Mobile and Simply Mac acquisitions in the fourth quarter of 2013. The fair value measurements were primarily based on significant unobservable inputs (Level 3) developed using company-specific information. See Note 3 for further information associated with the values recorded in the acquisitions. | |||||||||||||
Other Fair Value Disclosures | |||||||||||||
The carrying value of financial instruments such as cash and cash equivalents, receivables, net and accounts payable approximates their fair value, except for differences with respect to our senior notes that were outstanding until December 2011. As of January 28, 2012, there were no senior notes payable. |
Receivables_Net
Receivables, Net | 12 Months Ended | ||||||||
Feb. 01, 2014 | |||||||||
Receivables [Abstract] | ' | ||||||||
Receivables, Net | ' | ||||||||
7 | Receivables, Net | ||||||||
Receivables consist primarily of bankcard receivables and other receivables. Other receivables include receivables from Game Informer magazine advertising customers, receivables from landlords for tenant allowances and receivables from vendors for merchandise returns, vendor marketing allowances and various other programs. An allowance for doubtful accounts has been recorded to reduce receivables to an amount expected to be collectible. Receivables consisted of the following (in millions): | |||||||||
1-Feb-14 | 2-Feb-13 | ||||||||
Bankcard receivables | $ | 42.6 | $ | 35.9 | |||||
Other receivables | 45.5 | 40 | |||||||
Allowance for doubtful accounts | (3.7 | ) | (2.3 | ) | |||||
Total receivables, net | $ | 84.4 | $ | 73.6 | |||||
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | ||||||||
Feb. 01, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accrued Liabilities | ' | ||||||||
8 | Accrued Liabilities | ||||||||
Accrued liabilities consisted of the following (in millions): | |||||||||
1-Feb-14 | 2-Feb-13 | ||||||||
Customer liabilities | $ | 368.8 | $ | 362.8 | |||||
Deferred revenue | 118.1 | 93.5 | |||||||
Employee benefits, compensation and related taxes | 145.3 | 129.8 | |||||||
Other taxes | 53.5 | 60.5 | |||||||
Other accrued liabilities | 176 | 92.3 | |||||||
Total accrued liabilities | $ | 861.7 | $ | 738.9 | |||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||
Feb. 01, 2014 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill, Intangible Assets and Deferred Financing Fees | ' | ||||||||||||||||||||||||
9 | Goodwill and Intangible Assets | ||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||
The changes in the carrying amount of goodwill, by reportable segment, for the 53 weeks ended February 2, 2013 and the 52 weeks ended February 1, 2014 were as follows: | |||||||||||||||||||||||||
United States | Canada | Australia | Europe | Technology Brands | Total | ||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Balance at January 28, 2012 | $ | 1,152.00 | $ | 137.4 | $ | 210 | $ | 519.6 | $ | — | $ | 2,019.00 | |||||||||||||
Acquisitions (Note 3) | 1.5 | — | — | — | — | 1.5 | |||||||||||||||||||
Impairment | — | (100.3 | ) | (107.1 | ) | (419.6 | ) | — | (627.0 | ) | |||||||||||||||
Foreign currency translation adjustment | — | 0.6 | (6.3 | ) | (4.7 | ) | — | (10.4 | ) | ||||||||||||||||
Balance at February 2, 2013 | 1,153.50 | 37.7 | 96.6 | 95.3 | — | 1,383.10 | |||||||||||||||||||
Acquisitions (Note 3) | — | — | — | — | 62.1 | 62.1 | |||||||||||||||||||
Impairment | (10.2 | ) | — | — | — | — | (10.2 | ) | |||||||||||||||||
Foreign currency translation adjustment | — | (3.9 | ) | (15.3 | ) | (1.1 | ) | — | (20.3 | ) | |||||||||||||||
Balance at February 1, 2014 | $ | 1,143.30 | $ | 33.8 | $ | 81.3 | $ | 94.2 | $ | 62.1 | $ | 1,414.70 | |||||||||||||
Goodwill represents the excess purchase price over tangible net assets and identifiable intangible assets acquired. Our management is required to evaluate goodwill and other intangible assets not subject to amortization for impairment at least annually. This annual test is completed at the beginning of the fourth quarter of each fiscal year or when circumstances indicate the carrying value of the goodwill or other intangible assets might be impaired. Goodwill has been assigned to reporting units for the purpose of impairment testing. We have five operating segments, including Video Game Brands in the United States, Australia, Canada and Europe, and Technology Brands in the United States, which also define our reporting units based upon the similar economic characteristics of operations within each segment, including the nature of products, product distribution and the type of customer and separate management within those regions. | |||||||||||||||||||||||||
We estimate the fair value of each reporting unit based on the discounted cash flows of each reporting unit. We use a two-step process to measure goodwill impairment. If the fair value of the reporting unit is higher than its carrying value, then goodwill is not impaired. If the carrying value of the reporting unit is higher than the fair value, then the second step of the goodwill impairment test is needed. The second step compares the implied fair value of the reporting unit’s goodwill with its carrying amount. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value, then an impairment loss is recognized in the amount of the excess. | |||||||||||||||||||||||||
During the third quarter of fiscal 2012, our management determined that sufficient indicators of potential impairment existed to require an interim goodwill impairment test. These indicators included the recent trading prices of our Class A Common Stock and the decrease in our market capitalization below the total amount of stockholders’ equity on our consolidated balance sheet. | |||||||||||||||||||||||||
To perform step one of the interim goodwill impairment test, we utilized a discounted cash flow method to determine the fair value of reporting units. Our management was required to make significant judgments based on our projected annual business plans, long-term business strategies, comparable store sales, store count, gross margins, operating expenses, working capital needs, capital expenditures and long-term growth rates, all considered in light of current and anticipated economic factors. Discount rates used in the analysis reflect a hypothetical market participant’s weighted average cost of capital, current market rates and the risks associated with the projected cash flows. Terminal growth rates were based on long-term growth rate potential and a long-term inflation forecast. Given the significant decline in our market capitalization during the second quarter of fiscal 2012, we increased the discount rates for each of our reporting units from those used in step one of our fiscal 2011 annual goodwill impairment test to better reflect the market participant’s perceived risk associated with the projected cash flows, which had the effect of decreasing the fair value of each of the reporting units. We also updated its estimated cash flows from those used in step one of the fiscal 2011 annual goodwill impairment test to reflect the most recent strategic forecast, which resulted in, among other things, a decrease in the projected growth rates in store count and modifications to the projected growth rates in same-store sales. | |||||||||||||||||||||||||
Upon completion of step one of the interim goodwill impairment test, our management determined that the fair values of its Australia, Canada and Europe reporting units were below their carrying values and, as a result, conducted step two of the interim goodwill impairment test to determine the implied fair value of goodwill for the Australia, Canada and Europe reporting units. The calculated fair value of the United States reporting unit significantly exceeded its carrying value. Therefore, step two of the interim goodwill impairment test was not required for the United States reporting unit. | |||||||||||||||||||||||||
The implied fair value of goodwill is determined in step two of the goodwill impairment test by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation used in a business combination and the residual fair value after this allocation is the implied fair value of the reporting unit’s goodwill. In the process of conducting the second step of the goodwill impairment test, we identified intangible assets consisting of trade names in our Australia, Canada and Europe reporting units. Additionally, we identified hypothetical unrecognized fair value changes to merchandise inventories, property and equipment, unfavorable leasehold interests and deferred income taxes. The combination of these hypothetical unrecognized intangible assets and other hypothetical unrecognized fair value changes to the carrying values of other assets and liabilities, together with the lower reporting unit fair values calculated in step one, resulted in an implied fair value of goodwill below the carrying value of goodwill for the Australia, Canada and Europe reporting units. Accordingly, we recorded non-cash, non-tax deductible goodwill impairments for the third quarter of fiscal 2012 of $107.1 million, $100.3 million and $419.6 million in our Australia, Canada and Europe reporting units, respectively, to reduce the carrying value of goodwill. | |||||||||||||||||||||||||
There were no impairments to goodwill prior to the $627 million charge recorded in fiscal 2012, with the exception of a $3.3 million charge recorded in fiscal 2011 related to the exit of non-core operations. During fiscal 2013, $10.2 million of goodwill was expensed in the United States segment as a result of the exiting of an immaterial non-core business. Cumulative goodwill impairment losses were $640.5 million as of February 1, 2014, of which $13.5 million, $100.3 million, $107.1 million and $419.6 million were attributable to our United States, Canada, Australia and Europe reporting units, respectively. | |||||||||||||||||||||||||
Intangible Assets | |||||||||||||||||||||||||
Intangible assets, primarily from the EB merger and Micromania acquisition, consist of internally developed software, amounts attributed to favorable leasehold interests and advertiser relationships which are included in other intangible assets in the consolidated balance sheet. The trade names acquired, primarily Micromania, have been determined to be indefinite-lived intangible assets and are therefore not subject to amortization. The total weighted-average amortization period for the remaining intangible assets, excluding goodwill, is approximately six 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. | |||||||||||||||||||||||||
As a result of the impairment indicators described in the discussion above of the interim goodwill impairment test, during the third quarter of fiscal 2012, we also tested our long-lived assets for impairment and concluded that our Micromania trade name was impaired. As a result of the interim impairment test, we recorded a $44.9 million impairment charge of our Micromania trade name for the third quarter of fiscal 2012. For fiscal 2011, we recorded a $37.8 million charge as a result of our annual impairment test of our Micromania trade name. There were no trade name impairments recorded as a result of the fiscal 2013 annual impairment test. For each impairment test, the fair value of our Micromania trade name was calculated using a relief-from-royalty approach, which assumes the fair 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. The basis for future cash flow projections is internal revenue forecasts, which we believe represent reasonable market participant assumptions, to which the selected royalty rate is applied. These future cash flows are discounted using the applicable discount rate, as well as any potential risk premium to reflect the inherent risk of holding a standalone intangible asset. The discount rate used in the analysis reflects a hypothetical market participant’s weighted average cost of capital, current market rates and the risks associated with the projected cash flows. | |||||||||||||||||||||||||
The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of February 1, 2014 and February 2, 2013 were as follows (in millions): | |||||||||||||||||||||||||
As of February 1, 2014 | As of February 2, 2013 | ||||||||||||||||||||||||
Gross Carrying Amount(1) | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||||
Intangible assets with indefinite lives: | |||||||||||||||||||||||||
Trade names | $ | 54.2 | $ | — | $ | 54.2 | $ | 54.8 | $ | — | $ | 54.8 | |||||||||||||
Dealer agreement | 57.2 | — | 57.2 | — | — | — | |||||||||||||||||||
Intangible assets with finite lives: | |||||||||||||||||||||||||
Key money | 113.6 | (44.4 | ) | 69.2 | 115.9 | (39.1 | ) | 76.8 | |||||||||||||||||
Other | 40.9 | (27.2 | ) | 13.7 | 42.2 | (20.4 | ) | 21.8 | |||||||||||||||||
Total | $ | 265.9 | $ | (71.6 | ) | $ | 194.3 | $ | 212.9 | $ | (59.5 | ) | $ | 153.4 | |||||||||||
(1) The majority of the change in the gross carrying amount of intangible assets is due to business acquisitions (Note 3). | |||||||||||||||||||||||||
Intangible asset amortization expense for the fiscal years ended February 1, 2014, February 2, 2013 and January 28, 2012 was $14.0 million, $14.3 million and $17.8 million, respectively. | |||||||||||||||||||||||||
The estimated aggregate intangible asset amortization expense for the next five fiscal years is as follows (in millions): | |||||||||||||||||||||||||
Fiscal Year Ending on or around January 31, | Projected Amortization Expense | ||||||||||||||||||||||||
2015 | $ | 12.5 | |||||||||||||||||||||||
2016 | 11.9 | ||||||||||||||||||||||||
2017 | 9.8 | ||||||||||||||||||||||||
2018 | 9 | ||||||||||||||||||||||||
2019 | 8.6 | ||||||||||||||||||||||||
$ | 51.8 | ||||||||||||||||||||||||
Debt
Debt | 12 Months Ended | |
Feb. 01, 2014 | ||
Debt Disclosure [Abstract] | ' | |
Debt | ' | |
10 | Debt | |
On January 4, 2011, we entered into a $400 million credit agreement (the “Revolver”), which amended and restated our prior credit agreement entered into in October 2005 (the “Credit Agreement”). The Revolver provides for a five-year, $400 million asset-based facility, including a $50 million letter of credit sublimit, secured by substantially all of our assets and the assets of our domestic subsidiaries. We have the ability to increase the facility, which matures in January 2016, by $150 million under certain circumstances. The extension of the Revolver to January 2016 reduces our exposure to potential tightening or other adverse changes in the credit markets. | ||
The 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. Letters of credit reduce the amount available to borrow by their face value. Our ability to pay cash dividends, redeem options and repurchase shares is generally permitted, except under certain circumstances, including if Revolver excess availability is less than 20%, or is projected to be within 12 months after such payment. In addition, if Revolver usage is projected to be equal to or greater than 25% of total commitments during the prospective 12-month period, we are subject to meeting a fixed charge coverage ratio of 1.1:1.0 prior to making such payments. In the event that excess availability under the Revolver is at any time less than the greater of (1) $40 million or (2) 12.5% of the lesser of the total commitment or the borrowing base, we will be subject to a fixed charge coverage ratio covenant of 1.1:1.0. | ||
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 $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 1.25% to 1.5% above the highest of (a) the prime rate of the administrative agent, (b) the federal funds effective rate plus 0.50% or (c) the London Interbank Offered (“LIBO”) rate for a 30-day interest period as determined on such day plus 1.00%, and (2) for LIBO rate loans of 2.25% to 2.50% 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 0.375% or 0.50%, depending on facility usage, for any unused portion of the total commitment under the Revolver. As of February 1, 2014, the applicable margin was 1.25% for prime rate loans and 2.25% for LIBO rate loans, while the required commitment fee was 0.50% for the unused portion of the Revolver. | ||
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 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 our mergers or liquidation or mergers or the liquidation of certain of our subsidiaries. During fiscal 2013, we borrowed and repaid $130.0 million under the Revolver. During fiscal 2012 and fiscal 2011, we borrowed and repaid $81.0 million and $35.0 million, respectively, under the Revolver. Average borrowings under the Revolver for the 52 weeks ended February 1, 2014 were $14.2 million. Our average interest rate on those outstanding borrowings for the 52 weeks ended February 1, 2014 was 2.8%. As of February 1, 2014, total availability under the Revolver was $391 million, there were no borrowings outstanding and letters of credit outstanding totaled $9.0 million. We are currently in compliance with the requirements of the Revolver. | ||
On March 25, 2014, we amended and restated our revolving credit facility. The terms of the agreement were modified to extend the maturity date for the revolving credit facility to March 25, 2019, to increase the expansion feature under the facility from $150 million to $200 million, subject to certain conditions, and to amend certain other terms, including a reduction in the fee we are required to pay on the unused portion of the total commitment amount. The five-year, asset-based revolving credit facility has a total commitment amount of $400 million, which is subject to a monthly borrowing base calculation, and is available for the issuance of letters of credit of up to $50 million. The facility is secured by substantially all of our assets and the assets of our domestic subsidiaries. We believe the extension of the maturity date of the revolving credit facility to March 2019 helps to limit our exposure to potential tightening or other adverse changes in the credit markets. | ||
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 1, 2014, there were no cash overdrafts outstanding under the Line of Credit and bank guarantees outstanding totaled $4.3 million. |
Leases
Leases | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
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 through 2034 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. | |||||||||||||
Approximate rental expenses under operating leases were as follows: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions) | |||||||||||||
Minimum | $ | 381.6 | $ | 385.4 | $ | 386.9 | |||||||
Percentage rentals | 9.4 | 9.3 | 12.3 | ||||||||||
$ | 391 | $ | 394.7 | $ | 399.2 | ||||||||
Future minimum annual rentals, excluding percentage rentals, required under leases that had initial, noncancelable lease terms greater than one year, as of February 1, 2014, are approximately: | |||||||||||||
Fiscal Year Ending on or around January 31, | Amount | ||||||||||||
(In millions) | |||||||||||||
2015 | $ | 332.5 | |||||||||||
2016 | 243.2 | ||||||||||||
2017 | 162.6 | ||||||||||||
2018 | 103.3 | ||||||||||||
2019 | 67.8 | ||||||||||||
Thereafter | 130 | ||||||||||||
$ | 1,039.40 | ||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |
Feb. 01, 2014 | ||
Commitments and Contingencies Disclosure [Abstract] | ' | |
Commitments and Contingencies | ' | |
12 | Commitments and Contingencies | |
Commitments | ||
We had bank guarantees relating primarily to international store leases totaling $18.7 million as of February 1, 2014 and $21 million as of February 2, 2013. | ||
See Note 11 for information regarding commitments related to our noncancelable operating leases. | ||
Contingencies | ||
In the ordinary course of our business, we are, from time to time, subject to various legal proceedings, including matters involving wage and hour employee class 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 adverse effect on our financial condition, results of operations or liquidity. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
13 | Income Taxes | ||||||||||||
The provision for income tax consisted of the following: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions) | |||||||||||||
Current tax expense: | |||||||||||||
Federal | $ | 158.2 | $ | 229.6 | $ | 193.5 | |||||||
State | 24.5 | 24.1 | 20.9 | ||||||||||
Foreign | 34.6 | 29.4 | 21.4 | ||||||||||
217.3 | 283.1 | 235.8 | |||||||||||
Deferred tax expense (benefit): | |||||||||||||
Federal | (1.9 | ) | (46.3 | ) | (10.2 | ) | |||||||
State | (0.1 | ) | (3.5 | ) | (0.2 | ) | |||||||
Foreign | (0.7 | ) | (8.4 | ) | (14.8 | ) | |||||||
(2.7 | ) | (58.2 | ) | (25.2 | ) | ||||||||
Total income tax expense | $ | 214.6 | $ | 224.9 | $ | 210.6 | |||||||
The components of earnings (loss) before income tax expense consisted of the following: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions) | |||||||||||||
United States | $ | 491.6 | $ | 547.2 | $ | 551.9 | |||||||
International | 77.2 | (592.1 | ) | (2.8 | ) | ||||||||
Total | $ | 568.8 | $ | (44.9 | ) | $ | 549.1 | ||||||
The difference in income tax provided and the amounts determined by applying the statutory rate to earnings (loss) before income taxes resulted from the following: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
Federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
State income taxes, net of federal benefit | 1.9 | (27.7 | ) | 2.6 | |||||||||
Foreign income taxes | (0.5 | ) | 5.6 | 1.3 | |||||||||
Nondeductible goodwill impairments | 0.6 | (488.6 | ) | — | |||||||||
Change in valuation allowance | — | (22.5 | ) | 0.1 | |||||||||
Subpart F income | 4.8 | (61.4 | ) | 4.6 | |||||||||
Interest income from hybrid securities | (5.8 | ) | 73.3 | (6.1 | ) | ||||||||
Other (including permanent differences) 1 | 1.7 | (14.6 | ) | 0.9 | |||||||||
37.7 | % | (500.9 | )% | 38.4 | % | ||||||||
(1) Other is comprised of numerous items, none of which is greater than 1.75% of earnings before income taxes. | |||||||||||||
Differences between financial accounting principles and tax laws cause differences between the bases of certain assets and liabilities for financial reporting purposes and tax purposes. The tax effects of these differences, to the extent they are temporary, are recorded as deferred tax assets and liabilities and consisted of the following components (in millions): | |||||||||||||
1-Feb-14 | 2-Feb-13 | ||||||||||||
Deferred tax asset: | |||||||||||||
Inventory obsolescence reserve | $ | 18.8 | $ | 23.6 | |||||||||
Deferred rents | 12.4 | 13.6 | |||||||||||
Stock-based compensation | 26.4 | 25.3 | |||||||||||
Net operating losses | 16.8 | 15 | |||||||||||
Customer liabilities | 31.9 | 38.1 | |||||||||||
Property and equipment | 21.9 | 9.3 | |||||||||||
Foreign tax credit carryover | 1.4 | — | |||||||||||
Other | 9.4 | 11.1 | |||||||||||
Total deferred tax assets | 139 | 136 | |||||||||||
Valuation allowance | (13.3 | ) | (13.5 | ) | |||||||||
Total deferred tax assets, net | 125.7 | 122.5 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Goodwill | (80.3 | ) | (55.0 | ) | |||||||||
Prepaid expenses | (4.9 | ) | (6.6 | ) | |||||||||
Acquired intangible assets | (20.6 | ) | (24.6 | ) | |||||||||
Other | (5.6 | ) | (6.1 | ) | |||||||||
Total deferred tax liabilities | (111.4 | ) | (92.3 | ) | |||||||||
Net | $ | 14.3 | $ | 30.2 | |||||||||
Consolidated financial statements: | |||||||||||||
Deferred income tax assets — current | $ | 51.7 | $ | 61.7 | |||||||||
Deferred income tax liabilities — noncurrent | $ | (37.4 | ) | $ | (31.5 | ) | |||||||
In addition, the valuation allowance for deferred tax assets as of the fiscal year ended January 28, 2012 was $3.4 million. | |||||||||||||
We file income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The Internal Revenue Service (“IRS”) is currently examining our U.S. income tax returns for the fiscal years ended February 2, 2013, January 28, 2012, January 29, 2011, January 30, 2010 and January 31, 2009. We do not anticipate any adjustments that would result in a material impact on our consolidated financial statements as a result of these audits. We are no longer subject to U.S. federal income tax examination for years before and including the fiscal year ended February 2, 2008. | |||||||||||||
With respect to state and local jurisdictions and countries outside of the United States, we and our subsidiaries are typically subject to examination for three to six years after the income tax returns have been filed. Although the outcome of tax audits is always uncertain, we believe that adequate amounts of tax, interest and penalties have been provided for in the accompanying consolidated financial statements for any adjustments that might be incurred due to state, local or foreign audits. | |||||||||||||
As of February 1, 2014, the gross amount of unrecognized tax benefits was approximately $20.6 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 $18.5 million, exclusive of any benefits related to interest and penalties. | |||||||||||||
A reconciliation of the changes in the gross balances of unrecognized tax benefits follows (in millions): | |||||||||||||
1-Feb-14 | 2-Feb-13 | 28-Jan-12 | |||||||||||
Beginning balance of unrecognized tax benefits | $ | 28.7 | $ | 25.4 | $ | 24.9 | |||||||
Increases related to current period tax positions | 0.5 | 0.5 | — | ||||||||||
Increases related to prior period tax positions | 16.6 | 6.3 | 9.9 | ||||||||||
Reductions as a result of a lapse of the applicable statute of limitations | (1.9 | ) | (3.2 | ) | (2.0 | ) | |||||||
Reductions as a result of settlements with taxing authorities | (23.3 | ) | (0.3 | ) | (7.4 | ) | |||||||
Ending balance of unrecognized tax benefits | $ | 20.6 | $ | 28.7 | $ | 25.4 | |||||||
We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense. As of February 1, 2014, February 2, 2013 and January 28, 2012, we had approximately $6.1 million, $5.4 million and $3.2 million, respectively, in interest and penalties related to unrecognized tax benefits accrued, of which approximately $1.6 million of expense, $2.3 million of benefit and $2.7 million of benefit were recognized through income tax expense in the fiscal years ended February 1, 2014, February 2, 2013 and January 28, 2012, respectively. If we were to prevail on all uncertain tax positions, the reversal of these accruals 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 1, 2014. | |||||||||||||
Deferred income taxes have not been provided for on the approximately $542.1 million of undistributed earnings generated by certain foreign subsidiaries as of February 1, 2014 because we intend to permanently reinvest such earnings outside the United States. We do not currently require, nor do we have plans for, the repatriation of retained earnings from these subsidiaries. However, in the future, if we determine it is necessary to repatriate these funds, or we sell or liquidate any of these subsidiaries, we may be required to provide for income taxes on the repatriation. We may also be required to withhold foreign taxes depending on the foreign jurisdiction from which the funds are repatriated. The effective rate of tax on such repatriations may materially differ from the federal statutory tax rate, thereby having a material impact on tax expense in the year of repatriation; however, we cannot reasonably estimate the amount of such a tax event. |
Stock_Incentive_Plan
Stock Incentive Plan | 12 Months Ended | ||||||||||||||||
Feb. 01, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Stock Incentive Plan | ' | ||||||||||||||||
14 | Stock Incentive Plan | ||||||||||||||||
Effective June 2013, our stockholders voted to adopt the Amended and Restated 2011 Incentive Plan (the “Amended 2011 Incentive Plan”) to provide for issuance under the 2011 Incentive Plan of our Class A Common Stock. The Amended 2011 Incentive Plan provides a maximum aggregate amount of 9.25 million shares of Class A Common Stock with respect to which options may be granted and provides for a grant of cash, granting of incentive stock options, non-qualified stock options, stock appreciation rights, performance awards, restricted stock and other share-based awards, which may include, without limitation, restrictions on the right to vote such shares and restrictions on the right to receive dividends on such shares. The options to purchase Class A common shares are issued at fair market value of the underlying shares on the date of grant. In general, the options vest and become exercisable in equal annual installments over a three-year period, commencing one year after the grant date, and expire ten years from the grant date. Shares issued upon exercise of options are newly issued shares. Options and restricted shares granted after June 21, 2011 are issued under the 2011 Incentive Plan. | |||||||||||||||||
Effective June 2009, our stockholders voted to amend the Third Amended and Restated 2001 Incentive Plan (the “2001 Incentive Plan”) to provide for issuance under the 2001 Incentive Plan of our Class A Common Stock. The 2001 Incentive Plan provided a maximum aggregate amount of 46.5 million shares of Class A Common Stock with respect to which options may have been granted and provided for the granting of incentive stock options, non-qualified stock options, and restricted stock, which may have included, without limitation, restrictions on the right to vote such shares and restrictions on the right to receive dividends on such shares. The options to purchase Class A common shares were issued at fair market value of the underlying shares on the date of grant. In general, the options vested and became exercisable in equal annual installments over a three-year period, commencing one year after the grant date, and expired ten years from the grant date. Shares issued upon exercise of options are newly issued shares. Options and restricted shares granted on or before June 21, 2011 were issued under the 2001 Incentive Plan. | |||||||||||||||||
Stock Options | |||||||||||||||||
We record stock-based compensation expense in earnings based on the grant-date fair value of options granted. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. This valuation model requires the use of subjective assumptions, including expected option life and expected volatility. We use historical data to estimate the option life and the employee forfeiture rate, and use historical volatility when estimating the stock price volatility. We have not historically experienced material forfeitures with respect to the employees who currently receive stock option grants and thus we do not expect any forfeitures related to these awards. The weighted-average fair value of the options granted during the 52 weeks ended February 1, 2014 was estimated at $7.10 based on the following assumptions: | |||||||||||||||||
52 Weeks Ended | |||||||||||||||||
February 1, 2014 | |||||||||||||||||
Volatility | 46.4 | % | |||||||||||||||
Risk-free interest rate | 1 | % | |||||||||||||||
Expected life (years) | 5.6 | ||||||||||||||||
Expected dividend yield | 4.3 | % | |||||||||||||||
In addition to recognizing the estimated fair value of stock-based compensation in earnings over the required service period, we are also required to present tax benefits received in excess of amounts determined based on the compensation expense recognized on the statements of cash flows. Such tax benefits are presented as a use of cash in the operating section and a source of cash in the financing section of the consolidated statements of cash flows. | |||||||||||||||||
A summary of our stock option activity during the 52 weeks ended February 1, 2014 is presented below: | |||||||||||||||||
Shares | Weighted- | ||||||||||||||||
Average | |||||||||||||||||
Exercise | |||||||||||||||||
Price | |||||||||||||||||
(Millions of shares) | |||||||||||||||||
Balance, February 2, 2013 | 4.6 | $ | 25.04 | ||||||||||||||
Granted | 0.5 | $ | 24.82 | ||||||||||||||
Exercised | (2.8 | ) | $ | 20.84 | |||||||||||||
Forfeited | (0.3 | ) | $ | 38.33 | |||||||||||||
Balance, February 1, 2014 | 2 | $ | 29.31 | ||||||||||||||
The following table summarizes information as of February 1, 2014 concerning outstanding and exercisable options: | |||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Range of Exercise Prices | Number | Weighted- | Weighted- | Number | Weighted- | ||||||||||||
Outstanding | Average | Average | Exercisable | Average | |||||||||||||
(Millions) | Remaining | Contractual | (Millions) | Exercise | |||||||||||||
Life (Years) | Price | Price | |||||||||||||||
$ 9.29 - $10.13 | 0.3 | 1.09 | $ | 10.11 | 0.3 | $ | 10.11 | ||||||||||
$17.94 - $20.69 | 0.3 | 4.09 | $ | 20.18 | 0.3 | $ | 20.18 | ||||||||||
$24.82 - $26.68 | 0.8 | 6.95 | $ | 25.45 | 0.4 | $ | 26.24 | ||||||||||
$49.95 - $49.95 | 0.6 | 4.02 | $ | 49.95 | 0.6 | $ | 49.95 | ||||||||||
$ 9.29 - $49.95 | 2 | 4.71 | $ | 29.31 | 1.6 | $ | 30.61 | ||||||||||
The total intrinsic value of options exercised during the fiscal years ended February 1, 2014, February 2, 2013 and January 28, 2012 was $53.5 million, $7.7 million, and $16.0 million, respectively. The intrinsic value of options exercisable and options outstanding was $15.9 million and $20.5 million, respectively, as of February 1, 2014. | |||||||||||||||||
The fair value of each option is recognized as compensation expense on a straight-line basis between the grant date and the date the options become fully vested. During the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, we included compensation expense relating to the grant of these options in the amount of $1.0 million, $2.1 million and $6.4 million, respectively, in selling, general and administrative expenses. As of February 1, 2014, the unrecognized compensation expense related to the unvested portion of our stock-based awards was $2.2 million. | |||||||||||||||||
Restricted Stock Awards | |||||||||||||||||
We grant restricted stock awards to certain of our employees, officers and non-employee directors. Restricted stock awards generally vest over a three-year period on the anniversary of the date of issuance. | |||||||||||||||||
The following table presents a summary of our restricted stock awards activity during the 52 weeks ended February 1, 2014: | |||||||||||||||||
Shares | Weighted- | ||||||||||||||||
Average | |||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
(Millions of shares) | |||||||||||||||||
Nonvested shares at February 2, 2013 | 1.8 | $ | 22.92 | ||||||||||||||
Granted | 1.2 | $ | 24.82 | ||||||||||||||
Vested | (0.6 | ) | $ | 21.99 | |||||||||||||
Forfeited | (0.1 | ) | $ | 23.98 | |||||||||||||
Nonvested shares at February 1, 2014 | 2.3 | $ | 24.1 | ||||||||||||||
Of the shares granted during fiscal 2013, 916 thousand shares of restricted stock were granted under the 2011 Incentive Plan, which vest in equal annual installments over three years. At the same time, an additional 262 thousand shares of restricted stock were granted under the 2011 Incentive Plan, of which 131 thousand shares vest in equal annual installments over three years based on performance targets measured at the end of fiscal 2013. The remaining 131 thousand shares of restricted stock granted are subject to performance targets which will be measured following the completion of the 52 weeks ending January 30, 2016. These grants will vest immediately upon measurement to the extent earned. Shares subject to performance measures may generally be earned in greater or lesser percentages if targets are exceeded or not achieved by specified amounts. | |||||||||||||||||
During the 53 weeks ended February 2, 2013, we granted 1.4 million shares of restricted stock with a weighted average grant date fair value of $23.66 per common share with fair value being determined by the quoted market price of our common stock on the date of grant. Of these shares, 783 thousand shares of restricted stock were granted under the 2011 Incentive Plan, which vest in equal annual installments over three years. At the same time, an additional 626 thousand shares of restricted stock were granted under the 2011 Incentive Plan, of which 101 thousand shares vest in equal annual installments over three years based on performance targets that were achieved and 25 thousand shares were forfeited based on fiscal 2012 performance. The remaining 500 thousand shares of restricted stock granted are subject to performance targets which will be measured following the completion of the 52 weeks ending January 31, 2015. These grants will vest immediately upon measurement to the extent earned. Shares subject to performance measures may generally be earned in greater or lesser percentages if targets are exceeded or not achieved by specified amounts. The restricted stock granted in the 52 weeks ended January 28, 2012 vest in equal annual installments over three years. | |||||||||||||||||
During the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, we included compensation expense relating to the grant of these restricted shares in the amounts of $18.4 million, $17.5 million and $12.4 million, respectively, in selling, general and administrative expenses in the accompanying consolidated statements of operations. As of February 1, 2014, there was $28.1 million of unrecognized compensation expense related to nonvested restricted stock awards that is expected to be recognized over a weighted average period of 1.8 years. | |||||||||||||||||
Subsequent to the fiscal year ended February 1, 2014, we granted 588 thousand shares of restricted stock with a grant date fair value of $38.52 per common share and 283 thousand shares of stock options under the 2011 Incentive Plan. Of the restricted shares, 315 thousand shares vest in equal annual installments over three years. Restricted shares and options granted are subject to continued service. Of the restricted shares granted subsequent to February 1, 2014, 182 thousand shares are subject to a performance target which will be measured following the completion of the 52 weeks ending January 31, 2015 with the portion earned vesting in equal annual installments over three years. The remaining 91 thousand shares of restricted stock granted are subject to performance targets which will be measured following the completion of the 52 weeks ending January 28, 2017. These grants will vest immediately upon measurement to the extent earned. Shares subject to performance measures may generally be earned in greater or lesser percentages if targets are exceeded or not achieved by specified amounts. |
Employees_Defined_Contribution
Employees' Defined Contribution Plan | 12 Months Ended | |
Feb. 01, 2014 | ||
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%, for a maximum of $17.5 thousand a year for 2013, 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 the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, were $4.8 million, $4.6 million and $4.1 million, respectively. |
Significant_Products
Significant Products | 12 Months Ended | |||||||||||||||||||||
Feb. 01, 2014 | ||||||||||||||||||||||
Significant Products [Abstract] | ' | |||||||||||||||||||||
Significant Products | ' | |||||||||||||||||||||
16 | Significant Products | |||||||||||||||||||||
Beginning with this Form 10-K, we are expanding the categories included in our disclosures on sales and gross profit by category in order to reflect recent changes in our business, the expansion of categories previously included in other and our management emphasis as we operate in the future. Our previous categories of New Video Game Hardware and New Video Game Software remain unchanged. | ||||||||||||||||||||||
We are expanding our previous category of Pre-owned Video Game Products to include value-priced, or closeout, product and will be calling the category Pre-owned and Value Video Game Products now and in the future. We believe there is significant opportunity to purchase closeout and overstocked inventory from publishers, distributors and other retailers which is older new product but can be acquired for less than typical new release product costs. This product can then be resold in our Video Game Brands stores and on our Web sites as value-priced product. Our limited purchases of this product in the past have yielded significantly higher margins than new video game products, yet slightly lower margins than pre-owned video game products. | ||||||||||||||||||||||
In the past, all other products we sold were categorized into “Other”, which included video game accessories, digital products, new and pre-owned mobile products, consumer electronics, revenues from our PowerUp Rewards program and Game Informer subscription sales, strategy guides, toys and PC entertainment software. We are separating our historical Other category into the following new categories: | ||||||||||||||||||||||
• | Video Game Accessories, which includes new accessories for use with video game consoles and hand-held devices and software, such as controllers, gaming headsets and memory cards; | |||||||||||||||||||||
• | Digital, which includes revenues from the sale of DLC, Xbox Live, PlayStation Plus and Nintendo network points and subscription cards, other prepaid digital currencies and time cards, Kongregate, Game Informer digital subscriptions and PC digital downloads; | |||||||||||||||||||||
• | Mobile and Consumer Electronics, which includes revenues from selling new and pre-owned mobile devices and consumer electronics in Video Game Brands stores and all revenues from our Technology Brands stores; | |||||||||||||||||||||
• | Other, which includes revenues from the sales of PC entertainment software, toys, strategy guides and revenues from PowerUp Pro loyalty members receiving Game Informer magazine in physical form. | |||||||||||||||||||||
The following tables set forth net sales and gross profit (in millions) and gross profit percentages by significant product category for the periods indicated: | ||||||||||||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | ||||||||||||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | ||||||||||||||||||||
Net Sales | Percent | Net Sales | Percent | Net Sales | Percent | |||||||||||||||||
of Total | of Total | of Total | ||||||||||||||||||||
Net sales: | ||||||||||||||||||||||
New video game hardware | $ | 1,730.00 | 19.1 | % | $ | 1,333.40 | 15 | % | $ | 1,611.60 | 16.9 | % | ||||||||||
New video game software | 3,480.90 | 38.5 | % | 3,582.40 | 40.3 | % | 4,048.20 | 42.4 | % | |||||||||||||
Pre-owned and value video game products | 2,329.80 | 25.8 | % | 2,430.50 | 27.4 | % | 2,620.20 | 27.4 | % | |||||||||||||
Video game accessories | 560.6 | 6.2 | % | 611.8 | 6.9 | % | 661.1 | 6.9 | % | |||||||||||||
Digital | 217.7 | 2.4 | % | 208.4 | 2.3 | % | 143 | 1.5 | % | |||||||||||||
Mobile and consumer electronics | 303.7 | 3.4 | % | 200.3 | 2.3 | % | 12.8 | 0.1 | % | |||||||||||||
Other | 416.8 | 4.6 | % | 519.9 | 5.8 | % | 453.6 | 4.8 | % | |||||||||||||
Total | $ | 9,039.50 | 100 | % | $ | 8,886.70 | 100 | % | $ | 9,550.50 | 100 | % | ||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | ||||||||||||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | ||||||||||||||||||||
Gross | Gross | Gross | Gross | Gross | Gross | |||||||||||||||||
Profit | Profit | Profit | Profit | Profit | Profit | |||||||||||||||||
Percent | Percent | Percent | ||||||||||||||||||||
Gross Profit: | ||||||||||||||||||||||
New video game hardware | $ | 176.5 | 10.2 | % | $ | 101.7 | 7.6 | % | $ | 113.6 | 7 | % | ||||||||||
New video game software | 805.3 | 23.1 | % | 786.3 | 21.9 | % | 839 | 20.7 | % | |||||||||||||
Pre-owned and value video game products | 1,093.90 | 47 | % | 1,170.10 | 48.1 | % | 1,221.20 | 46.6 | % | |||||||||||||
Video game accessories | 220.5 | 39.3 | % | 237.9 | 38.9 | % | 251.9 | 38.1 | % | |||||||||||||
Digital | 149.2 | 68.5 | % | 120.9 | 58 | % | 66.5 | 46.5 | % | |||||||||||||
Mobile and consumer electronics | 65.1 | 21.4 | % | 41.3 | 20.6 | % | 3.5 | 27.3 | % | |||||||||||||
Other | 150.6 | 36.1 | % | 193.3 | 37.2 | % | 183.8 | 40.5 | % | |||||||||||||
Total | $ | 2,661.10 | 29.4 | % | $ | 2,651.50 | 29.8 | % | $ | 2,679.50 | 28.1 | % | ||||||||||
Segment_Information
Segment Information | 12 Months Ended | |||||||||||||||||||||||||
Feb. 01, 2014 | ||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||||
17 | Segment Information | |||||||||||||||||||||||||
We operate our business in four Video Game Brands segments: United States, Canada, Australia and Europe, and a Technology Brands segment, which was added in the fourth quarter of fiscal 2013 and includes the operations of our Spring Mobile, Simply Mac, and Aio Wireless businesses. We identify segments based on a combination of geographic areas and management responsibility. Each of the segments includes significant retail operations with all Video Game Brands stores engaged in the sale of new and pre-owned video game systems and software and related accessories and Technology Brand stores engaged in the sale of consumer electronics and wireless products and services. Segment results for the United States include retail operations in 50 states, the District of Columbia, Guam and Puerto Rico; the electronic commerce Web site www.gamestop.com; Game Informer magazine; the online video gaming Web site www.kongregate.com; a digital PC game distribution platform available at www.gamestop.com/pcgames; and an online consumer electronics marketplace available at www.buymytronics.com. Segment results for Canada include retail and e-commerce operations in Canada and segment results for Australia include retail and e-commerce operations in Australia and New Zealand. Segment results for Europe include retail operations in 11 European countries and e-commerce operations in six countries. The Technology Brands segment includes retail operations in the United States. We measure segment profit using operating earnings, which is defined as income from continuing operations before intercompany royalty fees, net interest expense and income taxes. Transactions between reportable segments consist primarily of royalties, management fees, intersegment loans and related interest. There were no intersegment sales during the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 or the 52 weeks ended January 28, 2012. | ||||||||||||||||||||||||||
Information on segments and the reconciliation of segment profit to earnings (loss) before income taxes are as follows (in millions): | ||||||||||||||||||||||||||
As of and for the Fiscal Year Ended February 1, 2014 | United | Canada | Australia | Europe | Technology Brands | Consolidated | ||||||||||||||||||||
States | ||||||||||||||||||||||||||
Net sales | $ | 6,160.40 | $ | 468.8 | $ | 613.7 | $ | 1,733.80 | $ | 62.8 | $ | 9,039.50 | ||||||||||||||
Segment operating earnings (loss) | 465.3 | 26.6 | 37.5 | 44.3 | (0.2 | ) | 573.5 | |||||||||||||||||||
Interest income | 0.9 | |||||||||||||||||||||||||
Interest expense | (5.6 | ) | ||||||||||||||||||||||||
Earnings before income taxes | 568.8 | |||||||||||||||||||||||||
Other Information: | ||||||||||||||||||||||||||
Goodwill | 1,143.30 | 33.8 | 81.3 | 94.2 | 62.1 | 1,414.70 | ||||||||||||||||||||
Other long-lived assets | 320 | 20.8 | 40.4 | 269.3 | 76.6 | 727.1 | ||||||||||||||||||||
Total assets | 2,320.70 | 228.7 | 389.2 | 972.2 | 180.6 | 4,091.40 | ||||||||||||||||||||
Income tax expense | 173.2 | 11.6 | 8.8 | 21 | — | 214.6 | ||||||||||||||||||||
Depreciation and amortization | 115.4 | 4.4 | 10.5 | 35.3 | 0.9 | 166.5 | ||||||||||||||||||||
Capital expenditures | 85.7 | 6.9 | 6.7 | 21.4 | 4.9 | 125.6 | ||||||||||||||||||||
As of and for the Fiscal Year Ended February 2, 2013 | United | Canada | Australia | Europe | Technology Brands | Consolidated | ||||||||||||||||||||
States | ||||||||||||||||||||||||||
Net sales | $ | 6,192.40 | $ | 478.4 | $ | 607.3 | $ | 1,608.60 | $ | — | $ | 8,886.70 | ||||||||||||||
Segment operating earnings (loss) | 501.9 | (74.4 | ) | (71.6 | ) | (397.5 | ) | — | (41.6 | ) | ||||||||||||||||
Interest income | 0.9 | |||||||||||||||||||||||||
Interest expense | (4.2 | ) | ||||||||||||||||||||||||
Loss before income taxes | (44.9 | ) | ||||||||||||||||||||||||
Other Information: | ||||||||||||||||||||||||||
Goodwill | 1,153.50 | 37.7 | 96.6 | 95.3 | — | 1,383.10 | ||||||||||||||||||||
Other long-lived assets | 375.4 | 21 | 52.1 | 291.1 | — | 739.6 | ||||||||||||||||||||
Total assets | 2,404.00 | 252.2 | 416.6 | 799.4 | — | 3,872.20 | ||||||||||||||||||||
Income tax expense | 199.8 | 7.1 | 11.6 | 6.4 | — | 224.9 | ||||||||||||||||||||
Depreciation and amortization | 120.7 | 5.1 | 13.8 | 36.9 | — | 176.5 | ||||||||||||||||||||
Capital expenditures | 101.8 | 3.6 | 9.2 | 25 | — | 139.6 | ||||||||||||||||||||
As of and for the Fiscal Year Ended January 28, 2012 | United | Canada | Australia | Europe | Technology Brands | Consolidated | ||||||||||||||||||||
States | ||||||||||||||||||||||||||
Net sales | $ | 6,637.00 | $ | 498.4 | $ | 604.7 | $ | 1,810.40 | $ | — | $ | 9,550.50 | ||||||||||||||
Segment operating earnings | 501.9 | 12.4 | 35.4 | 20.2 | — | 569.9 | ||||||||||||||||||||
Interest income | 0.9 | |||||||||||||||||||||||||
Interest expense | (20.7 | ) | ||||||||||||||||||||||||
Debt extinguishment expense | (1.0 | ) | ||||||||||||||||||||||||
Earnings before income taxes | 549.1 | |||||||||||||||||||||||||
Other Information: | ||||||||||||||||||||||||||
Goodwill | 1,152.00 | 137.4 | 210 | 519.6 | — | 2,019.00 | ||||||||||||||||||||
Other long-lived assets | 404 | 23 | 58.3 | 345.8 | — | 831.1 | ||||||||||||||||||||
Total assets | 2,479.00 | 350.8 | 513.3 | 1,265.10 | — | 4,608.20 | ||||||||||||||||||||
Income tax expense | 197.4 | 4.2 | 11.7 | (2.7 | ) | — | 210.6 | |||||||||||||||||||
Depreciation and amortization | 126.4 | 6.1 | 12.4 | 41.4 | — | 186.3 | ||||||||||||||||||||
Capital expenditures | 108.7 | 3.2 | 24.4 | 28.8 | — | 165.1 | ||||||||||||||||||||
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Supplemental Cash Flow Information | ' | ||||||||||||
18 | Supplemental Cash Flow Information | ||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions) | |||||||||||||
Cash paid during the period for: | |||||||||||||
Interest | $ | 2.7 | $ | 2.7 | $ | 24.7 | |||||||
Income taxes | 238 | 246.1 | 210.7 | ||||||||||
Acquisitions: | |||||||||||||
Goodwill | 62.1 | 1.5 | 26.9 | ||||||||||
Noncontrolling interests | — | — | 0.1 | ||||||||||
Net assets acquired | 15.3 | — | 3.1 | ||||||||||
Cash paid for acquisitions, net of cash acquired | $ | 77.4 | $ | 1.5 | $ | 30.1 | |||||||
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |
Feb. 01, 2014 | ||
Equity [Abstract] | ' | |
Stockholders' Equity | ' | |
19 | Stockholders’ Equity | |
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, subject to any preferential rights of any outstanding preferred stock. 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 after payment in full of any amounts required to be paid to holders of preferred stock. | ||
In 2005, we adopted a rights agreement under which one right (a “Right”) is attached to each outstanding share of our common stock. Each Right entitles the holder to purchase from us one ten-thousandth of a share of a series of preferred stock, designated as Series A Junior Participating Preferred Stock (the “Series A Preferred Stock”), at a price of $100.00 per one one thousandth of a share. The Rights will be exercisable only if a person or group acquires 15% or more of the voting power of our outstanding common stock or announces a tender offer or exchange offer, the consummation of which would result in such person or group owning 15% or more of the voting power of our outstanding common stock. | ||
If a person or group acquires 15% or more of the voting power of our outstanding common stock, each Right will entitle a holder (other than such person or any member of such group) to purchase, at the Right’s then current exercise price, a number of shares of common stock having a market value of twice the exercise price of the Right. In addition, if we are acquired in a merger or other business combination transaction or 50% or more of our consolidated assets or earning power are sold at any time after the Rights have become exercisable, each Right will entitle its holder to purchase, at the Right’s then current exercise price, a number of the acquiring company’s common shares having a market value at that time of twice the exercise price of the Right. Furthermore, at any time after a person or group acquires 15% or more of the voting power of our outstanding common stock but prior to the acquisition of 50% of such voting power, the Board of Directors may, at its option, exchange part or all of the Rights (other than Rights held by the acquiring person or group) at an exchange rate of one one thousandth of a share of Series A Preferred Stock or one share of our common stock for each Right. | ||
We will be entitled to redeem the Rights at any time prior to the acquisition by a person or group of 15% or more of the voting power of our outstanding common stock, at a price of $0.01 per Right. The Rights will expire on October 28, 2014. | ||
We have 5 million shares of $0.001 par value preferred stock authorized for issuance, of which 500 thousand shares have been designated by the Board of Directors as Series A Preferred Stock and reserved for issuance upon exercise of the Rights. Each such share of Series A Preferred Stock will be nonredeemable and junior to any other series of preferred stock that we may issue (unless otherwise provided in the terms of such stock) and will be entitled to a preferred dividend equal to the greater of $1.00 or one thousand times any dividend declared on our common stock. In the event of liquidation, the holders of Series A Preferred Stock will receive a preferred liquidation payment of $1,000 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon. Each share of Series A Preferred Stock will have ten thousand votes, voting together with our common stock. However, in the event that dividends on the Series A Preferred Stock shall be in arrears in an amount equal to six quarterly dividends thereon, holders of the Series A Preferred Stock shall have the right, voting as a class, to elect two of our directors. In the event of any merger, consolidation or other transaction in which our common stock is exchanged, each share of Series A Preferred Stock will be entitled to receive one thousand times the amount and type of consideration received per share of our common stock. At February 1, 2014, there were no shares of Series A Preferred Stock outstanding. | ||
Since January 2010, our Board of Directors has authorized several share repurchase programs authorizing our management to repurchase our common stock. Since the beginning of fiscal 2011, the authorizations have been for $500 million at a time. Our typical practice is to seek Board of Directors’ approval for a new authorization before the existing one is fully used in order to make sure that we are always able to repurchase shares. For fiscal 2011, we repurchased 11.2 million shares at an average price per share of $21.38 for a total of $240.2 million, which excludes approximately $22 million of share repurchases that were executed at the end of fiscal 2010 but for which the settlement and related cash outflow did not occur until the beginning of fiscal 2011. For fiscal 2012, the number of shares repurchased was 19.9 million for an average price per share of $20.60 for a total of $409.4 million. For fiscal 2013, the number of shares repurchased was 6.3 million for an average price per share of $41.12 for a total of $258.3 million. Between February 2, 2014 and March 20, 2014, we have repurchased 0.6 million shares at an average price per share of $37.17 for a total of $20.6 million and have $436.5 million remaining under our latest authorization from November 2013. | ||
In February 2012, our Board of Directors approved the initiation of a quarterly cash dividend to our stockholders of Class A Common Stock. We paid a total of $0.80 per share in dividends in fiscal 2012 and a total of $1.10 per share in fiscal 2013. On March 4, 2014, our Board of Directors authorized an increase in our annual cash dividend from $1.10 to $1.32 per share of Class A Common Stock and approved our first quarterly cash dividend to our stockholders for fiscal 2014 of $0.33 per share of Class A Common Stock payable on March 25, 2014 to stockholders of record at the close of business on March 17, 2014. Future dividends will be subject to approval by our Board of Directors. |
Unaudited_Quarterly_Financial_
Unaudited Quarterly Financial Information | 12 Months Ended | ||||||||||||||||||||||||||||||||
Feb. 01, 2014 | |||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||
Unaudited Quarterly Financial Information | ' | ||||||||||||||||||||||||||||||||
20 | Unaudited Quarterly Financial Information | ||||||||||||||||||||||||||||||||
The following table sets forth certain unaudited quarterly consolidated statement of operations information for the fiscal years ended February 1, 2014 and February 2, 2013. The unaudited quarterly information includes all normal recurring adjustments that our management considers necessary for a fair presentation of the information shown. | |||||||||||||||||||||||||||||||||
Fiscal Year Ended February 1, 2014 | Fiscal Year Ended February 2, 2013 | ||||||||||||||||||||||||||||||||
1st | 2nd | 3rd | 4th | 1st | 2nd | 3rd | 4th | ||||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter (2) | Quarter | Quarter | Quarter(1) | Quarter | ||||||||||||||||||||||||||
(Amounts in millions, except per share amounts) | |||||||||||||||||||||||||||||||||
Net sales | $ | 1,865.30 | $ | 1,383.70 | $ | 2,106.70 | $ | 3,683.80 | $ | 2,002.20 | $ | 1,550.20 | $ | 1,772.80 | $ | 3,561.50 | |||||||||||||||||
Gross profit | 578.3 | 481.3 | 598.3 | 1,003.20 | 599.9 | 519.3 | 557.4 | 974.9 | |||||||||||||||||||||||||
Operating earnings (loss) | 87.2 | 18.8 | 109.1 | 358.4 | 115 | 34.5 | (603.5 | ) | 412.3 | ||||||||||||||||||||||||
Net income (loss) attributable to GameStop Corp. | 54.6 | 10.5 | 68.6 | 220.5 | 72.5 | 21 | (624.3 | ) | 261.1 | ||||||||||||||||||||||||
Basic net income (loss) per common share (3) | 0.46 | 0.09 | 0.59 | 1.91 | 0.54 | 0.16 | (5.08 | ) | 2.17 | ||||||||||||||||||||||||
Diluted net income (loss) per common share (3) | 0.46 | 0.09 | 0.58 | 1.89 | 0.54 | 0.16 | (5.08 | ) | 2.15 | ||||||||||||||||||||||||
Dividend declared per common share | 0.275 | 0.275 | 0.275 | 0.275 | 0.15 | 0.15 | 0.25 | 0.25 | |||||||||||||||||||||||||
The following footnotes are discussed as pretax expenses. | |||||||||||||||||||||||||||||||||
-1 | The results of operations for the third quarter of the fiscal year ended February 2, 2013 include goodwill impairments of $627.0 million and asset impairments of $51.8 million. | ||||||||||||||||||||||||||||||||
-2 | The results of operations for the fourth quarter of the fiscal year ended February 1, 2014 include goodwill impairments of $10.2 million and asset impairments of $18.5 million. Additionally, results include a $33.6 million benefit associated with changes in accounting estimates primarily related to our loyalty programs and other customer liabilities. | ||||||||||||||||||||||||||||||||
-3 | Basic net income (loss) per common share and diluted net income (loss) per common share are calculated based on net income (loss) attributable to GameStop Corp. for the quarter. The sum of the quarters may not necessarily be equal to the full year net income (loss) per common share amount. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Presentation and Consolidation | ' | ||||||||||||
Basis of Presentation and Consolidation | |||||||||||||
Our consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries and our majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. All dollar and share amounts (other than dollar amounts per share) in the consolidated financial statements are stated in millions unless otherwise indicated. | |||||||||||||
Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal 2013 consisted of the 52 weeks ended on February 1, 2014. Fiscal 2012 consisted of the 53 weeks ended on February 2, 2013. Fiscal 2011 consisted of the 52 weeks ended on January 28, 2012. | |||||||||||||
We have revised the presentation of outstanding checks in our prior period financial statements. Previously, we reduced cash and liabilities when the checks were presented for payment and cleared our bank accounts. As of February 1, 2014, we reduce cash and liabilities when the checks are released for payment. | |||||||||||||
The impacts of revising our financial statements for the specified prior periods are as follows: | |||||||||||||
As Previously Reported | Revision | As Revised | |||||||||||
(In millions) | |||||||||||||
Consolidated Balance Sheets: | |||||||||||||
As of February 2, 2013 | |||||||||||||
Cash and cash equivalents | $ | 635.8 | $ | (261.4 | ) | $ | 374.4 | ||||||
Total current assets | 2,010.90 | (261.4 | ) | 1,749.50 | |||||||||
Total assets | 4,133.60 | (261.4 | ) | 3,872.20 | |||||||||
Accounts payable | 870.9 | (259.3 | ) | 611.6 | |||||||||
Accrued liabilities | 741 | (2.1 | ) | 738.9 | |||||||||
Total current liabilities | 1,715.30 | (261.4 | ) | 1,453.90 | |||||||||
Total liabilities | 1,847.30 | (261.4 | ) | 1,585.90 | |||||||||
As Previously Reported | Revision | As Revised | |||||||||||
(In millions) | |||||||||||||
Consolidated Statements of Cash Flows: | |||||||||||||
For the 53 weeks ended February 2, 2013 | |||||||||||||
Changes in operating assets and liabilities: | |||||||||||||
Accounts payable and accrued liabilities | $ | 48.1 | $ | (22.2 | ) | $ | 25.9 | ||||||
Net cash flows provided by operating activities | 632.4 | (22.2 | ) | 610.2 | |||||||||
Cash and cash equivalents at beginning of period | 655 | (239.2 | ) | 415.8 | |||||||||
Cash and cash equivalents at end of period | 635.8 | (261.4 | ) | 374.4 | |||||||||
For the 52 weeks ended January 28, 2012 | |||||||||||||
Changes in operating assets and liabilities: | |||||||||||||
Accounts payable and accrued liabilities | (104.5 | ) | 17.1 | (87.4 | ) | ||||||||
Net cash flows provided by operating activities | 624.7 | 17.1 | 641.8 | ||||||||||
Cash and cash equivalents at beginning of period | 710.8 | (256.3 | ) | 454.5 | |||||||||
Cash and cash equivalents at end of period | 655 | (239.2 | ) | 415.8 | |||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
We consider all short-term, highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Our cash and cash equivalents are carried at cost, which approximates market value, and consist primarily of time deposits with highly rated commercial banks. From time to time depending upon interest rates, credit worthiness and other factors, we invest in money market investment funds holding direct U.S. Treasury obligations. | |||||||||||||
Restricted Cash | ' | ||||||||||||
Restricted Cash | |||||||||||||
We consider bank deposits serving as collateral for bank guarantees issued on behalf of our foreign subsidiaries as restricted cash, which is included in other noncurrent assets in our consolidated balance sheets. | |||||||||||||
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. In valuing inventory, we are required to make assumptions regarding the necessity of reserves required to value potentially obsolete or over-valued items at the lower of cost or market. We consider quantities on hand, recent sales, potential price protections and returns to vendors, among other factors, when making these assumptions. | |||||||||||||
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 1, 2014 and February 2, 2013 were $76.5 million and $83.8 million, respectively. | |||||||||||||
Property and Equipment | ' | ||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation on furniture, fixtures and equipment is computed using the straight-line method over their estimated useful lives ranging from two to ten years. Maintenance and repairs are expensed as incurred, while betterments and major remodeling costs are capitalized. Leasehold improvements are capitalized and amortized over the shorter of their estimated useful lives or the terms of the respective leases, including option periods in which the exercise of the option is reasonably assured (generally ranging from three to ten years). Costs incurred in purchasing management information systems are capitalized and included in property and equipment. These costs are amortized over their estimated useful lives from the date the systems become operational. Our total depreciation expense was $152.9 million, $163.1 million and $172.2 million during fiscal 2013, fiscal 2012 and fiscal 2011, respectively. | |||||||||||||
We periodically review our property and equipment when events or changes in circumstances indicate that their carrying amounts may not be recoverable or their 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 would be recognized for the amount by which the carrying amount of the assets exceeds their fair value, as approximated by the present value of their projected discounted cash flows. We recorded impairment losses of $18.5 million, $8.8 million and $11.2 million in fiscal 2013, fiscal 2012 and fiscal 2011, respectively. | |||||||||||||
Goodwill | ' | ||||||||||||
Goodwill | |||||||||||||
Goodwill represents the excess purchase price over net identifiable assets acquired. Our management is required to evaluate goodwill and other intangible assets not subject to amortization for impairment at least annually. This annual test is completed as of the beginning of the fourth quarter each fiscal year or when circumstances indicate the carrying value of the goodwill or other intangible assets might be impaired. Goodwill has been assigned to reporting units for the purpose of impairment testing. We have five operating and reportable segments, including Video Game Brands in the United States, Australia, Canada and Europe, and Technology Brands in the United States, which also define our reporting units based upon the similar economic characteristics of operations within each segment, including the nature of products, product distribution and the type of customer and separate management within those regions. | |||||||||||||
We estimate the fair value of each reporting unit based on the discounted cash flows of each reporting unit. We use a two-step process to measure any potential goodwill impairment. If the fair value of the reporting unit is higher than its carrying value, then goodwill is not impaired. If the carrying value of the reporting unit is higher than the fair value, then the second step of the goodwill impairment test is needed. The second step compares the implied fair value of the reporting unit’s goodwill with its carrying amount. The implied fair value of goodwill is determined in step two of the goodwill impairment test by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation used in a business combination and the residual fair value after this allocation is the implied fair value of the reporting unit’s goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of its goodwill, then an impairment loss is recognized in the amount of the excess. | |||||||||||||
During the third quarter of fiscal 2012, our management determined that sufficient indicators of potential impairment existed to require an interim goodwill impairment test. As a result of the interim goodwill impairment test, we recorded non-cash, non-tax deductible goodwill impairments for the third quarter of fiscal 2012 of $107.1 million, $100.3 million and $419.6 million in our Australia, Canada and Europe reporting units, respectively, to reduce the carrying value of goodwill. | |||||||||||||
We completed the annual impairment test of goodwill as of the first day of the fourth quarter of fiscal 2011, fiscal 2012 and fiscal 2013 and concluded that none of our goodwill was impaired. For the fiscal 2013 annual impairment test, Technology Brands was excluded since it commenced operations during the fourth quarter and therefore was not a reporting unit subject to assessment as of our annual testing date. For our United States, Canada and Australia reporting units, the calculated fair value of each of these reporting units exceeded their carrying values by more than 20% and the calculated fair value of our Europe reporting unit exceeded its carrying value by more than 10%. For fiscal 2013, there was a $10.2 million goodwill write-off in the United States Video Game Brands segment as a result of abandoning our investment in Spawn Labs. For fiscal 2011, there was a $3.3 million goodwill write-off in the United States Video Game Brands segment as a result of the exiting of a non-core business. Note 9 provides additional information concerning the changes in goodwill for the consolidated financial statements presented. | |||||||||||||
Other Intangible Assets | ' | ||||||||||||
Other Intangible Assets | |||||||||||||
Other intangible assets consist primarily of trade names, leasehold rights, advertising relationships, dealer agreements and amounts attributed to favorable leasehold interests recorded as a result of business acquisitions. 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. The estimated useful life and amortization methodology of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows. Intangible assets that are determined to have a definite life are amortized over that period. Leasehold rights which were recorded as a result of the purchase of SFMI Micromania SAS (“Micromania”) 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. Advertising relationships, which were recorded as a result of digital acquisitions, are relationships with existing advertisers who pay to place ads on our digital Web sites and are amortized on a straight-line basis over 10 years. Favorable leasehold interests represent the value of the contractual monthly rental payments that are less than the current market rent at stores acquired as part of the Micromania acquisition or the EB merger. Favorable leasehold interests are amortized on a straight-line basis over their remaining lease term with no expected residual value. | |||||||||||||
Intangible assets that are determined to have an indefinite life are not amortized, but are required to be evaluated at least annually for impairment. Trade names which were recorded as a result of acquisitions, primarily Micromania, are considered indefinite-lived intangible assets as they are expected to contribute to cash flows indefinitely and are not subject to amortization, but are subject to annual impairment testing. If the carrying value of an individual indefinite-lived intangible asset exceeds its fair value as determined by its discounted cash flows, such individual indefinite-lived intangible asset is written down by the amount of the excess. | |||||||||||||
During the third quarter of fiscal 2012, our management determined that sufficient indicators of potential impairment existed to require an interim impairment test of our Micromania trade name. As a result of the interim impairment test of the Micromania trade name, we recorded a $44.9 million impairment charge during the third quarter of fiscal 2012. We completed the annual impairment tests of indefinite-lived intangible assets as of the first day of the fourth quarter of fiscal 2013 and fiscal 2012 and concluded that none of our intangible assets were impaired. We completed the annual impairment test of indefinite-lived intangible assets as of the first day of the fourth quarter of fiscal 2011 and concluded that the Micromania trade name was impaired due to revenue forecasts that had declined since the initial valuation. As a result, we recorded a $37.8 million impairment charge for fiscal 2011. The impairment charges are recorded in asset impairments and restructuring charges in our consolidated statements of operations and are recorded in the Europe segment. See Note 9. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition | |||||||||||||
Revenue from the sales of our products is recognized at the time of sale, net of sales discounts and net of an estimated sales return reserve, based on historical return rates, with a corresponding reduction in cost of sales. Our sales return policy is generally limited to less than 30 days and as such our sales returns are, and have historically been, immaterial. | |||||||||||||
The sales of pre-owned video game products are recorded at the retail price charged to the customer. Advertising revenues for Game Informer are recorded upon release of magazines for sale to consumers. Subscription revenues for our PowerUp Rewards loyalty program and magazines are recognized on a straight-line basis over the subscription period. Revenue from the sales of product replacement plans is recognized on a straight-line basis over the coverage period. The deferred revenues for our PowerUp Rewards loyalty program, gift cards, customer credits, magazines and product replacement plans are included in accrued liabilities (see Note 8). Gift cards sold to customers are recognized as a liability on the consolidated balance sheet until redeemed or until a reasonable point at which breakage related to non-redemption can be recognized. | |||||||||||||
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 on the sale of these digital products. | |||||||||||||
Revenues do not include sales taxes or other taxes collected from customers. | |||||||||||||
Cost of Sales and Selling, General and Administrative Expenses Classification | ' | ||||||||||||
Cost of Sales and Selling, General and Administrative Expenses Classification | |||||||||||||
The classification of cost of sales and selling, general and administrative expenses varies across the retail industry. We include purchasing, receiving and distribution costs in selling, general and administrative expenses, rather than cost of goods sold, in the consolidated statements of operations. For the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, these purchasing, receiving and distribution costs amounted to $56.4 million, $58.8 million and $61.7 million, respectively. | |||||||||||||
We include processing fees associated with purchases made by check and credit cards in cost of sales, rather than selling, general and administrative expenses, in the consolidated statements of operations. For the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, these processing fees amounted to $61.5 million, $54.2 million and $65.1 million, respectively. | |||||||||||||
Customer Liabilities | ' | ||||||||||||
Customer Liabilities | |||||||||||||
We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed. In addition, breakage is recognized quarterly on unused customer liabilities older than two years to the extent that our management believes the likelihood of redemption by the customer is remote, based on historical redemption patterns. Breakage has historically been immaterial. To the extent that future redemption patterns differ from those historically experienced, there will be variations in the recorded breakage. | |||||||||||||
Advertising Expenses | ' | ||||||||||||
Advertising Expenses | |||||||||||||
We expense advertising costs for newspapers and other media when the advertising takes place. Advertising expenses for television, newspapers and other media during the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012 were $57.8 million, $63.9 million and $65.0 million, respectively. | |||||||||||||
Loyalty Expenses | ' | ||||||||||||
Loyalty Expenses | |||||||||||||
The PowerUp Rewards loyalty program, introduced in May 2010, allows enrolled members to earn points on purchases that can be redeemed for rewards that include discounts or merchandise. We estimate the net cost of the rewards that will be issued and redeemed and record this cost and the associated balance sheet reserve as points are accumulated by loyalty program members. The two primary estimates utilized to record the balance sheet reserve for loyalty points earned by members are the estimated redemption rate and the estimated weighted-average cost per point redeemed. Our management uses historical redemption rates experienced under the loyalty program as a basis to estimate the ultimate redemption rate of points earned. A weighted-average cost per point redeemed is used to estimate future redemption costs. The weighted-average cost per point redeemed is based on our most recent actual costs incurred to fulfill points that have been redeemed by our loyalty program members and is adjusted as appropriate for recent changes in redemption costs, including the mix of rewards redeemed. We continually evaluate our reserve methodology and assumptions based on developments in redemption patterns, cost per point redeemed and other factors. Changes in the ultimate redemption rate and weighted-average cost per point redeemed have the effect of either increasing or decreasing the reserve through the current period provision by an amount estimated to cover the cost of all points previously earned but not yet redeemed by loyalty program members as of the end of the reporting period. | |||||||||||||
Historically, the cost was recognized in selling, general and administrative expenses and the associated liability was included in accrued liabilities. However, in the fourth quarter of 2013, we determined that the net cost of the rewards that will be issued and redeemed would be better presented as cost of sales. The cost of administering the loyalty program, including program administration fees, program communications and cost of loyalty cards, will continue to be recognized in selling, general and administrative expenses. The cost of free or discounted products recognized in cost of sales for the 52 weeks ended February 1, 2014 was $18.2 million. The cost of free or discounted products for the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012 was $31.2 million and $37.8 million, respectively, all of which was recorded in selling, general and administrative expenses as discussed above. The reserve is released when loyalty program members redeem their respective points and the corresponding rewards are recorded to cost of goods sold in the period of redemption. | |||||||||||||
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. 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 13). | |||||||||||||
We plan on permanently reinvesting our undistributed foreign earnings outside the United States. Where foreign earnings are permanently reinvested, no provision for federal income or foreign withholding taxes is made. Should we have undistributed foreign earnings that are not permanently reinvested, United States income tax expense and foreign withholding taxes will be provided for at the time the earnings are generated. | |||||||||||||
Lease Accounting | ' | ||||||||||||
Lease Accounting | |||||||||||||
We lease retail stores, warehouse facilities, office space and equipment. These are generally leased under noncancelable agreements that expire at various dates through 2034 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. | |||||||||||||
Foreign Currency Translation | ' | ||||||||||||
Foreign Currency Translation | |||||||||||||
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. Transaction and derivative net gains (losses) are included in selling, general and administrative expenses and were $3.3 million, $2.5 million and $(0.6) million for the 52 weeks ended February 1, 2014, the 53 weeks ended February 2, 2013 and the 52 weeks ended January 28, 2012, 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. The foreign currency transaction gains and (losses) are primarily due to fluctuations in the value of the U.S. dollar compared to the Australian dollar, Canadian dollar and euro. | |||||||||||||
We use forward exchange contracts, foreign currency options and cross-currency swaps (together, the “foreign currency contracts”) to manage currency risk 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 (see Note 6). | |||||||||||||
New Accounting Pronouncements | ' | ||||||||||||
New Accounting Pronouncements | |||||||||||||
In July 2013, the Financial Accounting Standards Board ("FASB") issued an Accounting Standards Update (“ASU”) related to the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The ASU requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as either a reduction to a deferred tax asset or separately as a liability depending on the existence, availability and/or use of an operating loss carryforward, a similar tax loss, or a tax credit carryforward. This ASU will be effective for us beginning the first quarter of 2014. We do not expect that this ASU will have an impact on our consolidated financial statements as we currently do not have any unrecognized tax benefits in the same jurisdictions in which we have tax loss or credit carryovers. | |||||||||||||
In March 2013, the FASB issued an ASU providing guidance with respect to the release of cumulative translation adjustments into net income when a parent company sells either a part or all of an investment in a foreign entity. The ASU requires the release of cumulative translation adjustments when a company no longer holds a controlling financial interest in a foreign subsidiary or a group of assets that constitutes a business within a foreign entity. This ASU will be effective for us beginning the first quarter of 2014. We are evaluating the effect of this ASU, but do not expect it to have a significant impact on our Consolidated Financial Statements. | |||||||||||||
In February 2013, the FASB issued an ASU related to the reporting and disclosure of amounts reclassified out of accumulated other comprehensive income by component. An entity is required to present either on the face of the statement of operations or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified to net income in its entirety in the same reporting period. For amounts not reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional detail about those amounts. This ASU was effective for our annual and interim periods beginning in fiscal 2013. The ASU had no effect on our consolidated financial statements as we have a single component of other comprehensive income, currency translation adjustments, which is not reclassified to net income. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Schedule of Prior Period Adjustments | ' | ||||||||||||
The impacts of revising our financial statements for the specified prior periods are as follows: | |||||||||||||
As Previously Reported | Revision | As Revised | |||||||||||
(In millions) | |||||||||||||
Consolidated Balance Sheets: | |||||||||||||
As of February 2, 2013 | |||||||||||||
Cash and cash equivalents | $ | 635.8 | $ | (261.4 | ) | $ | 374.4 | ||||||
Total current assets | 2,010.90 | (261.4 | ) | 1,749.50 | |||||||||
Total assets | 4,133.60 | (261.4 | ) | 3,872.20 | |||||||||
Accounts payable | 870.9 | (259.3 | ) | 611.6 | |||||||||
Accrued liabilities | 741 | (2.1 | ) | 738.9 | |||||||||
Total current liabilities | 1,715.30 | (261.4 | ) | 1,453.90 | |||||||||
Total liabilities | 1,847.30 | (261.4 | ) | 1,585.90 | |||||||||
As Previously Reported | Revision | As Revised | |||||||||||
(In millions) | |||||||||||||
Consolidated Statements of Cash Flows: | |||||||||||||
For the 53 weeks ended February 2, 2013 | |||||||||||||
Changes in operating assets and liabilities: | |||||||||||||
Accounts payable and accrued liabilities | $ | 48.1 | $ | (22.2 | ) | $ | 25.9 | ||||||
Net cash flows provided by operating activities | 632.4 | (22.2 | ) | 610.2 | |||||||||
Cash and cash equivalents at beginning of period | 655 | (239.2 | ) | 415.8 | |||||||||
Cash and cash equivalents at end of period | 635.8 | (261.4 | ) | 374.4 | |||||||||
For the 52 weeks ended January 28, 2012 | |||||||||||||
Changes in operating assets and liabilities: | |||||||||||||
Accounts payable and accrued liabilities | (104.5 | ) | 17.1 | (87.4 | ) | ||||||||
Net cash flows provided by operating activities | 624.7 | 17.1 | 641.8 | ||||||||||
Cash and cash equivalents at beginning of period | 710.8 | (256.3 | ) | 454.5 | |||||||||
Cash and cash equivalents at end of period | 655 | (239.2 | ) | 415.8 | |||||||||
Asset_Impairments_and_Restruct1
Asset Impairments and Restructuring Charges (Tables) | 12 Months Ended | ||||||||||||||||||||
Feb. 01, 2014 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Schedule Of Asset Impairment | ' | ||||||||||||||||||||
A summary of our asset impairment charges, by reportable segment, for the 52 weeks ended February 1, 2014 is as follows: | |||||||||||||||||||||
United States Video Game Brands | Europe Video Game Brands | Total | |||||||||||||||||||
(In millions) | |||||||||||||||||||||
Goodwill impairments | $ | 10.2 | $ | — | $ | 10.2 | |||||||||||||||
Impairment of intangible assets | 2.1 | — | 2.1 | ||||||||||||||||||
Impairment of technology assets | 7.4 | — | 7.4 | ||||||||||||||||||
Impairments of property, equipment and other assets - store impairments | 4.3 | 4.7 | 9 | ||||||||||||||||||
Total | $ | 24 | $ | 4.7 | $ | 28.7 | |||||||||||||||
A summary of our asset impairment charges, by reportable segment, for the 53 weeks ended February 2, 2013 is as follows: | |||||||||||||||||||||
United States Video Game Brands | Canada Video Game Brands | Australia Video Game Brands | Europe Video Game Brands | Total | |||||||||||||||||
(In millions) | |||||||||||||||||||||
Goodwill impairments | $ | — | $ | 100.3 | $ | 107.1 | $ | 419.6 | $ | 627 | |||||||||||
Impairment of intangible assets | — | — | — | 44.9 | 44.9 | ||||||||||||||||
Impairments of property, equipment and other assets - store impairments | 5.7 | 0.4 | 0.2 | 2.5 | 8.8 | ||||||||||||||||
Total | $ | 5.7 | $ | 100.7 | $ | 107.3 | $ | 467 | $ | 680.7 | |||||||||||
Summary of Company's Asset Impairments and Restructuring Charges | ' | ||||||||||||||||||||
A summary of our asset impairments and restructuring charges, by reportable segment, for the 52 weeks ended January 28, 2012 is as follows: | |||||||||||||||||||||
United States Video Game Brands | Canada Video Game Brands | Australia Video Game Brands | Europe Video Game Brands | Total | |||||||||||||||||
(In millions) | |||||||||||||||||||||
Impairment of intangible assets | $ | — | $ | — | $ | — | $ | 37.8 | $ | 37.8 | |||||||||||
Impairment of investments in non-core businesses | 22.7 | — | — | — | 22.7 | ||||||||||||||||
Impairments of property, equipment and other assets - store impairments | 3.2 | 1.1 | 0.5 | 6.4 | 11.2 | ||||||||||||||||
Termination benefits | 3 | 0.2 | — | 2.4 | 5.6 | ||||||||||||||||
Facility closure and other costs | — | — | 0.1 | 3.8 | 3.9 | ||||||||||||||||
Total | $ | 28.9 | $ | 1.3 | $ | 0.6 | $ | 50.4 | $ | 81.2 | |||||||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||
Feb. 01, 2014 | |||||
Business Combinations [Abstract] | ' | ||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | ||||
A summary of the fair values of the assets acquired and liabilities assumed in connection with the Spring Mobile acquisition is included in the table below. We determined the fair values based, in part, on a third-party valuation of the net assets acquired, which includes identifiable intangible assets of $39.6 million. | |||||
Assets acquired | |||||
Current assets | $ | 19 | |||
Property and equipment | 8.5 | ||||
Identifiable intangible assets | 39.6 | ||||
Goodwill | 50.2 | ||||
Liabilities assumed | |||||
Current liabilities, excluding current portion of debt | (11.4 | ) | |||
Debt obligations, including current portion | (34.5 | ) | |||
Other long-term liabilities | (8.8 | ) | |||
Total purchase price | $ | 62.6 | |||
Computation_of_Net_Income_Loss1
Computation of Net Income (Loss) per Common Share (Tables) | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
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 (loss) per common share is as follows: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions, except per share data) | |||||||||||||
Net income (loss) attributable to GameStop Corp. | $ | 354.2 | $ | (269.7 | ) | $ | 339.9 | ||||||
Weighted average common shares outstanding | 117.2 | 126.4 | 139.9 | ||||||||||
Dilutive effect of options and restricted shares on common stock | 1.2 | — | 1.1 | ||||||||||
Common shares and dilutive potential common shares | 118.4 | 126.4 | 141 | ||||||||||
Net income (loss) per common share: | |||||||||||||
Basic | $ | 3.02 | $ | (2.13 | ) | $ | 2.43 | ||||||
Diluted | $ | 2.99 | $ | (2.13 | ) | $ | 2.41 | ||||||
Restricted Shares and Options to Purchase Shares of Class A Common Stock Excluded from Computation of Diluted Earnings Per Share | ' | ||||||||||||
The following table contains information on share-based awards of Class A Common Stock which were excluded from the computation of diluted earnings per share because their effects were antidilutive: | |||||||||||||
Anti- | |||||||||||||
Dilutive | |||||||||||||
Shares | |||||||||||||
(In millions) | |||||||||||||
52 Weeks Ended February 1, 2014 | 1.5 | ||||||||||||
53 Weeks Ended February 2, 2013 | 3.3 | ||||||||||||
52 Weeks Ended January 28, 2012 | 2.5 | ||||||||||||
Fair_Value_Measurements_and_Fi1
Fair Value Measurements and Financial Instruments (Tables) | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
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): | |||||||||||||
1-Feb-14 | 2-Feb-13 | ||||||||||||
Level 2 | Level 2 | ||||||||||||
Assets | |||||||||||||
Foreign currency contracts | |||||||||||||
Other current assets | $ | 0.9 | $ | 7.3 | |||||||||
Other noncurrent assets | 0.5 | 0.9 | |||||||||||
Life insurance policies we own1 | 7.1 | 3.5 | |||||||||||
Total assets | $ | 8.5 | $ | 11.7 | |||||||||
Liabilities | |||||||||||||
Foreign currency contracts | |||||||||||||
Accrued liabilities | $ | 21.3 | $ | 9.1 | |||||||||
Other long-term liabilities | 2.2 | 4.4 | |||||||||||
Nonqualified deferred compensation2 | 1.1 | 0.9 | |||||||||||
Total liabilities | $ | 24.6 | $ | 14.4 | |||||||||
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 loans and foreign currency assets and liabilities recognized in selling, general and administrative expense is as follows (in millions): | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
Gains (losses) on the changes in fair value of derivative instruments | $ | (20.3 | ) | $ | (19.8 | ) | $ | 13.5 | |||||
Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities | 23.6 | 22.3 | (14.1 | ) | |||||||||
Total | $ | 3.3 | $ | 2.5 | $ | (0.6 | ) | ||||||
Receivables_Net_Tables
Receivables, Net (Tables) | 12 Months Ended | ||||||||
Feb. 01, 2014 | |||||||||
Receivables [Abstract] | ' | ||||||||
Receivables | ' | ||||||||
Receivables consisted of the following (in millions): | |||||||||
1-Feb-14 | 2-Feb-13 | ||||||||
Bankcard receivables | $ | 42.6 | $ | 35.9 | |||||
Other receivables | 45.5 | 40 | |||||||
Allowance for doubtful accounts | (3.7 | ) | (2.3 | ) | |||||
Total receivables, net | $ | 84.4 | $ | 73.6 | |||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | ||||||||
Feb. 01, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accrued Liabilities | ' | ||||||||
Accrued liabilities consisted of the following (in millions): | |||||||||
1-Feb-14 | 2-Feb-13 | ||||||||
Customer liabilities | $ | 368.8 | $ | 362.8 | |||||
Deferred revenue | 118.1 | 93.5 | |||||||
Employee benefits, compensation and related taxes | 145.3 | 129.8 | |||||||
Other taxes | 53.5 | 60.5 | |||||||
Other accrued liabilities | 176 | 92.3 | |||||||
Total accrued liabilities | $ | 861.7 | $ | 738.9 | |||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Feb. 01, 2014 | |||||||||||||||||||||||||
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 the 53 weeks ended February 2, 2013 and the 52 weeks ended February 1, 2014 were as follows: | |||||||||||||||||||||||||
United States | Canada | Australia | Europe | Technology Brands | Total | ||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Balance at January 28, 2012 | $ | 1,152.00 | $ | 137.4 | $ | 210 | $ | 519.6 | $ | — | $ | 2,019.00 | |||||||||||||
Acquisitions (Note 3) | 1.5 | — | — | — | — | 1.5 | |||||||||||||||||||
Impairment | — | (100.3 | ) | (107.1 | ) | (419.6 | ) | — | (627.0 | ) | |||||||||||||||
Foreign currency translation adjustment | — | 0.6 | (6.3 | ) | (4.7 | ) | — | (10.4 | ) | ||||||||||||||||
Balance at February 2, 2013 | 1,153.50 | 37.7 | 96.6 | 95.3 | — | 1,383.10 | |||||||||||||||||||
Acquisitions (Note 3) | — | — | — | — | 62.1 | 62.1 | |||||||||||||||||||
Impairment | (10.2 | ) | — | — | — | — | (10.2 | ) | |||||||||||||||||
Foreign currency translation adjustment | — | (3.9 | ) | (15.3 | ) | (1.1 | ) | — | (20.3 | ) | |||||||||||||||
Balance at February 1, 2014 | $ | 1,143.30 | $ | 33.8 | $ | 81.3 | $ | 94.2 | $ | 62.1 | $ | 1,414.70 | |||||||||||||
Schedule of Intangible Assets Other Than Goodwill | ' | ||||||||||||||||||||||||
The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of February 1, 2014 and February 2, 2013 were as follows (in millions): | |||||||||||||||||||||||||
As of February 1, 2014 | As of February 2, 2013 | ||||||||||||||||||||||||
Gross Carrying Amount(1) | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||||
Intangible assets with indefinite lives: | |||||||||||||||||||||||||
Trade names | $ | 54.2 | $ | — | $ | 54.2 | $ | 54.8 | $ | — | $ | 54.8 | |||||||||||||
Dealer agreement | 57.2 | — | 57.2 | — | — | — | |||||||||||||||||||
Intangible assets with finite lives: | |||||||||||||||||||||||||
Key money | 113.6 | (44.4 | ) | 69.2 | 115.9 | (39.1 | ) | 76.8 | |||||||||||||||||
Other | 40.9 | (27.2 | ) | 13.7 | 42.2 | (20.4 | ) | 21.8 | |||||||||||||||||
Total | $ | 265.9 | $ | (71.6 | ) | $ | 194.3 | $ | 212.9 | $ | (59.5 | ) | $ | 153.4 | |||||||||||
(1) The majority of the change in the gross carrying amount of intangible assets is due to business acquisitions (Note 3). | |||||||||||||||||||||||||
Estimated Aggregate Amortization Expenses for Deferred Financing Fees and Other Intangible Assets for Next Five Fiscal Years | ' | ||||||||||||||||||||||||
The estimated aggregate intangible asset amortization expense for the next five fiscal years is as follows (in millions): | |||||||||||||||||||||||||
Fiscal Year Ending on or around January 31, | Projected Amortization Expense | ||||||||||||||||||||||||
2015 | $ | 12.5 | |||||||||||||||||||||||
2016 | 11.9 | ||||||||||||||||||||||||
2017 | 9.8 | ||||||||||||||||||||||||
2018 | 9 | ||||||||||||||||||||||||
2019 | 8.6 | ||||||||||||||||||||||||
$ | 51.8 | ||||||||||||||||||||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Leases [Abstract] | ' | ||||||||||||
Approximate Rental Expenses Under Operating Leases | ' | ||||||||||||
Approximate rental expenses under operating leases were as follows: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions) | |||||||||||||
Minimum | $ | 381.6 | $ | 385.4 | $ | 386.9 | |||||||
Percentage rentals | 9.4 | 9.3 | 12.3 | ||||||||||
$ | 391 | $ | 394.7 | $ | 399.2 | ||||||||
Future Minimum Annual Rentals, Excluding Percentage Rentals, Under Initial Noncancelable Lease Terms | ' | ||||||||||||
Future minimum annual rentals, excluding percentage rentals, required under leases that had initial, noncancelable lease terms greater than one year, as of February 1, 2014, are approximately: | |||||||||||||
Fiscal Year Ending on or around January 31, | Amount | ||||||||||||
(In millions) | |||||||||||||
2015 | $ | 332.5 | |||||||||||
2016 | 243.2 | ||||||||||||
2017 | 162.6 | ||||||||||||
2018 | 103.3 | ||||||||||||
2019 | 67.8 | ||||||||||||
Thereafter | 130 | ||||||||||||
$ | 1,039.40 | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Provision for Income Tax | ' | ||||||||||||
The provision for income tax consisted of the following: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions) | |||||||||||||
Current tax expense: | |||||||||||||
Federal | $ | 158.2 | $ | 229.6 | $ | 193.5 | |||||||
State | 24.5 | 24.1 | 20.9 | ||||||||||
Foreign | 34.6 | 29.4 | 21.4 | ||||||||||
217.3 | 283.1 | 235.8 | |||||||||||
Deferred tax expense (benefit): | |||||||||||||
Federal | (1.9 | ) | (46.3 | ) | (10.2 | ) | |||||||
State | (0.1 | ) | (3.5 | ) | (0.2 | ) | |||||||
Foreign | (0.7 | ) | (8.4 | ) | (14.8 | ) | |||||||
(2.7 | ) | (58.2 | ) | (25.2 | ) | ||||||||
Total income tax expense | $ | 214.6 | $ | 224.9 | $ | 210.6 | |||||||
Components of Earnings Before Income Tax expense | ' | ||||||||||||
The components of earnings (loss) before income tax expense consisted of the following: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions) | |||||||||||||
United States | $ | 491.6 | $ | 547.2 | $ | 551.9 | |||||||
International | 77.2 | (592.1 | ) | (2.8 | ) | ||||||||
Total | $ | 568.8 | $ | (44.9 | ) | $ | 549.1 | ||||||
Difference in Income Tax Provided and Amounts Determined by Applying Statutory Rate to Income Before Income Taxes | ' | ||||||||||||
The difference in income tax provided and the amounts determined by applying the statutory rate to earnings (loss) before income taxes resulted from the following: | |||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
Federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
State income taxes, net of federal benefit | 1.9 | (27.7 | ) | 2.6 | |||||||||
Foreign income taxes | (0.5 | ) | 5.6 | 1.3 | |||||||||
Nondeductible goodwill impairments | 0.6 | (488.6 | ) | — | |||||||||
Change in valuation allowance | — | (22.5 | ) | 0.1 | |||||||||
Subpart F income | 4.8 | (61.4 | ) | 4.6 | |||||||||
Interest income from hybrid securities | (5.8 | ) | 73.3 | (6.1 | ) | ||||||||
Other (including permanent differences) 1 | 1.7 | (14.6 | ) | 0.9 | |||||||||
37.7 | % | (500.9 | )% | 38.4 | % | ||||||||
Components of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The tax effects of these differences, to the extent they are temporary, are recorded as deferred tax assets and liabilities and consisted of the following components (in millions): | |||||||||||||
1-Feb-14 | 2-Feb-13 | ||||||||||||
Deferred tax asset: | |||||||||||||
Inventory obsolescence reserve | $ | 18.8 | $ | 23.6 | |||||||||
Deferred rents | 12.4 | 13.6 | |||||||||||
Stock-based compensation | 26.4 | 25.3 | |||||||||||
Net operating losses | 16.8 | 15 | |||||||||||
Customer liabilities | 31.9 | 38.1 | |||||||||||
Property and equipment | 21.9 | 9.3 | |||||||||||
Foreign tax credit carryover | 1.4 | — | |||||||||||
Other | 9.4 | 11.1 | |||||||||||
Total deferred tax assets | 139 | 136 | |||||||||||
Valuation allowance | (13.3 | ) | (13.5 | ) | |||||||||
Total deferred tax assets, net | 125.7 | 122.5 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Goodwill | (80.3 | ) | (55.0 | ) | |||||||||
Prepaid expenses | (4.9 | ) | (6.6 | ) | |||||||||
Acquired intangible assets | (20.6 | ) | (24.6 | ) | |||||||||
Other | (5.6 | ) | (6.1 | ) | |||||||||
Total deferred tax liabilities | (111.4 | ) | (92.3 | ) | |||||||||
Net | $ | 14.3 | $ | 30.2 | |||||||||
Consolidated financial statements: | |||||||||||||
Deferred income tax assets — current | $ | 51.7 | $ | 61.7 | |||||||||
Deferred income tax liabilities — noncurrent | $ | (37.4 | ) | $ | (31.5 | ) | |||||||
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): | |||||||||||||
1-Feb-14 | 2-Feb-13 | 28-Jan-12 | |||||||||||
Beginning balance of unrecognized tax benefits | $ | 28.7 | $ | 25.4 | $ | 24.9 | |||||||
Increases related to current period tax positions | 0.5 | 0.5 | — | ||||||||||
Increases related to prior period tax positions | 16.6 | 6.3 | 9.9 | ||||||||||
Reductions as a result of a lapse of the applicable statute of limitations | (1.9 | ) | (3.2 | ) | (2.0 | ) | |||||||
Reductions as a result of settlements with taxing authorities | (23.3 | ) | (0.3 | ) | (7.4 | ) | |||||||
Ending balance of unrecognized tax benefits | $ | 20.6 | $ | 28.7 | $ | 25.4 | |||||||
Stock_Incentive_Plan_Tables
Stock Incentive Plan (Tables) | 12 Months Ended | ||||||||||||||||
Feb. 01, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Assumptions used to Estimate Fair value of Each Option Grant | ' | ||||||||||||||||
The weighted-average fair value of the options granted during the 52 weeks ended February 1, 2014 was estimated at $7.10 based on the following assumptions: | |||||||||||||||||
52 Weeks Ended | |||||||||||||||||
February 1, 2014 | |||||||||||||||||
Volatility | 46.4 | % | |||||||||||||||
Risk-free interest rate | 1 | % | |||||||||||||||
Expected life (years) | 5.6 | ||||||||||||||||
Expected dividend yield | 4.3 | % | |||||||||||||||
Summary of Status of Company's Stock Options | ' | ||||||||||||||||
A summary of our stock option activity during the 52 weeks ended February 1, 2014 is presented below: | |||||||||||||||||
Shares | Weighted- | ||||||||||||||||
Average | |||||||||||||||||
Exercise | |||||||||||||||||
Price | |||||||||||||||||
(Millions of shares) | |||||||||||||||||
Balance, February 2, 2013 | 4.6 | $ | 25.04 | ||||||||||||||
Granted | 0.5 | $ | 24.82 | ||||||||||||||
Exercised | (2.8 | ) | $ | 20.84 | |||||||||||||
Forfeited | (0.3 | ) | $ | 38.33 | |||||||||||||
Balance, February 1, 2014 | 2 | $ | 29.31 | ||||||||||||||
Summary of Outstanding and Exercisable Options | ' | ||||||||||||||||
The following table summarizes information as of February 1, 2014 concerning outstanding and exercisable options: | |||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Range of Exercise Prices | Number | Weighted- | Weighted- | Number | Weighted- | ||||||||||||
Outstanding | Average | Average | Exercisable | Average | |||||||||||||
(Millions) | Remaining | Contractual | (Millions) | Exercise | |||||||||||||
Life (Years) | Price | Price | |||||||||||||||
$ 9.29 - $10.13 | 0.3 | 1.09 | $ | 10.11 | 0.3 | $ | 10.11 | ||||||||||
$17.94 - $20.69 | 0.3 | 4.09 | $ | 20.18 | 0.3 | $ | 20.18 | ||||||||||
$24.82 - $26.68 | 0.8 | 6.95 | $ | 25.45 | 0.4 | $ | 26.24 | ||||||||||
$49.95 - $49.95 | 0.6 | 4.02 | $ | 49.95 | 0.6 | $ | 49.95 | ||||||||||
$ 9.29 - $49.95 | 2 | 4.71 | $ | 29.31 | 1.6 | $ | 30.61 | ||||||||||
Summary of Company's Restricted Stock Awards Activity | ' | ||||||||||||||||
The following table presents a summary of our restricted stock awards activity during the 52 weeks ended February 1, 2014: | |||||||||||||||||
Shares | Weighted- | ||||||||||||||||
Average | |||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
(Millions of shares) | |||||||||||||||||
Nonvested shares at February 2, 2013 | 1.8 | $ | 22.92 | ||||||||||||||
Granted | 1.2 | $ | 24.82 | ||||||||||||||
Vested | (0.6 | ) | $ | 21.99 | |||||||||||||
Forfeited | (0.1 | ) | $ | 23.98 | |||||||||||||
Nonvested shares at February 1, 2014 | 2.3 | $ | 24.1 | ||||||||||||||
Significant_Products_Tables
Significant Products (Tables) | 12 Months Ended | |||||||||||||||||||||
Feb. 01, 2014 | ||||||||||||||||||||||
Significant Products [Abstract] | ' | |||||||||||||||||||||
Sales by Significant Product Category | ' | |||||||||||||||||||||
The following tables set forth net sales and gross profit (in millions) and gross profit percentages by significant product category for the periods indicated: | ||||||||||||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | ||||||||||||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | ||||||||||||||||||||
Net Sales | Percent | Net Sales | Percent | Net Sales | Percent | |||||||||||||||||
of Total | of Total | of Total | ||||||||||||||||||||
Net sales: | ||||||||||||||||||||||
New video game hardware | $ | 1,730.00 | 19.1 | % | $ | 1,333.40 | 15 | % | $ | 1,611.60 | 16.9 | % | ||||||||||
New video game software | 3,480.90 | 38.5 | % | 3,582.40 | 40.3 | % | 4,048.20 | 42.4 | % | |||||||||||||
Pre-owned and value video game products | 2,329.80 | 25.8 | % | 2,430.50 | 27.4 | % | 2,620.20 | 27.4 | % | |||||||||||||
Video game accessories | 560.6 | 6.2 | % | 611.8 | 6.9 | % | 661.1 | 6.9 | % | |||||||||||||
Digital | 217.7 | 2.4 | % | 208.4 | 2.3 | % | 143 | 1.5 | % | |||||||||||||
Mobile and consumer electronics | 303.7 | 3.4 | % | 200.3 | 2.3 | % | 12.8 | 0.1 | % | |||||||||||||
Other | 416.8 | 4.6 | % | 519.9 | 5.8 | % | 453.6 | 4.8 | % | |||||||||||||
Total | $ | 9,039.50 | 100 | % | $ | 8,886.70 | 100 | % | $ | 9,550.50 | 100 | % | ||||||||||
Gross Profit and Gross Profit Percentages by Significant Product Category | ' | |||||||||||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | ||||||||||||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | ||||||||||||||||||||
Gross | Gross | Gross | Gross | Gross | Gross | |||||||||||||||||
Profit | Profit | Profit | Profit | Profit | Profit | |||||||||||||||||
Percent | Percent | Percent | ||||||||||||||||||||
Gross Profit: | ||||||||||||||||||||||
New video game hardware | $ | 176.5 | 10.2 | % | $ | 101.7 | 7.6 | % | $ | 113.6 | 7 | % | ||||||||||
New video game software | 805.3 | 23.1 | % | 786.3 | 21.9 | % | 839 | 20.7 | % | |||||||||||||
Pre-owned and value video game products | 1,093.90 | 47 | % | 1,170.10 | 48.1 | % | 1,221.20 | 46.6 | % | |||||||||||||
Video game accessories | 220.5 | 39.3 | % | 237.9 | 38.9 | % | 251.9 | 38.1 | % | |||||||||||||
Digital | 149.2 | 68.5 | % | 120.9 | 58 | % | 66.5 | 46.5 | % | |||||||||||||
Mobile and consumer electronics | 65.1 | 21.4 | % | 41.3 | 20.6 | % | 3.5 | 27.3 | % | |||||||||||||
Other | 150.6 | 36.1 | % | 193.3 | 37.2 | % | 183.8 | 40.5 | % | |||||||||||||
Total | $ | 2,661.10 | 29.4 | % | $ | 2,651.50 | 29.8 | % | $ | 2,679.50 | 28.1 | % | ||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Feb. 01, 2014 | ||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||
Information on Segments and Reconciliation to Earnings Before Income Taxes | ' | |||||||||||||||||||||||||
Information on segments and the reconciliation of segment profit to earnings (loss) before income taxes are as follows (in millions): | ||||||||||||||||||||||||||
As of and for the Fiscal Year Ended February 1, 2014 | United | Canada | Australia | Europe | Technology Brands | Consolidated | ||||||||||||||||||||
States | ||||||||||||||||||||||||||
Net sales | $ | 6,160.40 | $ | 468.8 | $ | 613.7 | $ | 1,733.80 | $ | 62.8 | $ | 9,039.50 | ||||||||||||||
Segment operating earnings (loss) | 465.3 | 26.6 | 37.5 | 44.3 | (0.2 | ) | 573.5 | |||||||||||||||||||
Interest income | 0.9 | |||||||||||||||||||||||||
Interest expense | (5.6 | ) | ||||||||||||||||||||||||
Earnings before income taxes | 568.8 | |||||||||||||||||||||||||
Other Information: | ||||||||||||||||||||||||||
Goodwill | 1,143.30 | 33.8 | 81.3 | 94.2 | 62.1 | 1,414.70 | ||||||||||||||||||||
Other long-lived assets | 320 | 20.8 | 40.4 | 269.3 | 76.6 | 727.1 | ||||||||||||||||||||
Total assets | 2,320.70 | 228.7 | 389.2 | 972.2 | 180.6 | 4,091.40 | ||||||||||||||||||||
Income tax expense | 173.2 | 11.6 | 8.8 | 21 | — | 214.6 | ||||||||||||||||||||
Depreciation and amortization | 115.4 | 4.4 | 10.5 | 35.3 | 0.9 | 166.5 | ||||||||||||||||||||
Capital expenditures | 85.7 | 6.9 | 6.7 | 21.4 | 4.9 | 125.6 | ||||||||||||||||||||
As of and for the Fiscal Year Ended February 2, 2013 | United | Canada | Australia | Europe | Technology Brands | Consolidated | ||||||||||||||||||||
States | ||||||||||||||||||||||||||
Net sales | $ | 6,192.40 | $ | 478.4 | $ | 607.3 | $ | 1,608.60 | $ | — | $ | 8,886.70 | ||||||||||||||
Segment operating earnings (loss) | 501.9 | (74.4 | ) | (71.6 | ) | (397.5 | ) | — | (41.6 | ) | ||||||||||||||||
Interest income | 0.9 | |||||||||||||||||||||||||
Interest expense | (4.2 | ) | ||||||||||||||||||||||||
Loss before income taxes | (44.9 | ) | ||||||||||||||||||||||||
Other Information: | ||||||||||||||||||||||||||
Goodwill | 1,153.50 | 37.7 | 96.6 | 95.3 | — | 1,383.10 | ||||||||||||||||||||
Other long-lived assets | 375.4 | 21 | 52.1 | 291.1 | — | 739.6 | ||||||||||||||||||||
Total assets | 2,404.00 | 252.2 | 416.6 | 799.4 | — | 3,872.20 | ||||||||||||||||||||
Income tax expense | 199.8 | 7.1 | 11.6 | 6.4 | — | 224.9 | ||||||||||||||||||||
Depreciation and amortization | 120.7 | 5.1 | 13.8 | 36.9 | — | 176.5 | ||||||||||||||||||||
Capital expenditures | 101.8 | 3.6 | 9.2 | 25 | — | 139.6 | ||||||||||||||||||||
As of and for the Fiscal Year Ended January 28, 2012 | United | Canada | Australia | Europe | Technology Brands | Consolidated | ||||||||||||||||||||
States | ||||||||||||||||||||||||||
Net sales | $ | 6,637.00 | $ | 498.4 | $ | 604.7 | $ | 1,810.40 | $ | — | $ | 9,550.50 | ||||||||||||||
Segment operating earnings | 501.9 | 12.4 | 35.4 | 20.2 | — | 569.9 | ||||||||||||||||||||
Interest income | 0.9 | |||||||||||||||||||||||||
Interest expense | (20.7 | ) | ||||||||||||||||||||||||
Debt extinguishment expense | (1.0 | ) | ||||||||||||||||||||||||
Earnings before income taxes | 549.1 | |||||||||||||||||||||||||
Other Information: | ||||||||||||||||||||||||||
Goodwill | 1,152.00 | 137.4 | 210 | 519.6 | — | 2,019.00 | ||||||||||||||||||||
Other long-lived assets | 404 | 23 | 58.3 | 345.8 | — | 831.1 | ||||||||||||||||||||
Total assets | 2,479.00 | 350.8 | 513.3 | 1,265.10 | — | 4,608.20 | ||||||||||||||||||||
Income tax expense | 197.4 | 4.2 | 11.7 | (2.7 | ) | — | 210.6 | |||||||||||||||||||
Depreciation and amortization | 126.4 | 6.1 | 12.4 | 41.4 | — | 186.3 | ||||||||||||||||||||
Capital expenditures | 108.7 | 3.2 | 24.4 | 28.8 | — | 165.1 | ||||||||||||||||||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||||||
Feb. 01, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Supplemental Cash Flow Information | ' | ||||||||||||
52 Weeks Ended | 53 Weeks Ended | 52 Weeks Ended | |||||||||||
February 1, 2014 | February 2, 2013 | January 28, 2012 | |||||||||||
(In millions) | |||||||||||||
Cash paid during the period for: | |||||||||||||
Interest | $ | 2.7 | $ | 2.7 | $ | 24.7 | |||||||
Income taxes | 238 | 246.1 | 210.7 | ||||||||||
Acquisitions: | |||||||||||||
Goodwill | 62.1 | 1.5 | 26.9 | ||||||||||
Noncontrolling interests | — | — | 0.1 | ||||||||||
Net assets acquired | 15.3 | — | 3.1 | ||||||||||
Cash paid for acquisitions, net of cash acquired | $ | 77.4 | $ | 1.5 | $ | 30.1 | |||||||
Unaudited_Quarterly_Financial_1
Unaudited Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Feb. 01, 2014 | |||||||||||||||||||||||||||||||||
Text Block [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 1, 2014 and February 2, 2013. The unaudited quarterly information includes all normal recurring adjustments that our management considers necessary for a fair presentation of the information shown. | |||||||||||||||||||||||||||||||||
Fiscal Year Ended February 1, 2014 | Fiscal Year Ended February 2, 2013 | ||||||||||||||||||||||||||||||||
1st | 2nd | 3rd | 4th | 1st | 2nd | 3rd | 4th | ||||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter (2) | Quarter | Quarter | Quarter(1) | Quarter | ||||||||||||||||||||||||||
(Amounts in millions, except per share amounts) | |||||||||||||||||||||||||||||||||
Net sales | $ | 1,865.30 | $ | 1,383.70 | $ | 2,106.70 | $ | 3,683.80 | $ | 2,002.20 | $ | 1,550.20 | $ | 1,772.80 | $ | 3,561.50 | |||||||||||||||||
Gross profit | 578.3 | 481.3 | 598.3 | 1,003.20 | 599.9 | 519.3 | 557.4 | 974.9 | |||||||||||||||||||||||||
Operating earnings (loss) | 87.2 | 18.8 | 109.1 | 358.4 | 115 | 34.5 | (603.5 | ) | 412.3 | ||||||||||||||||||||||||
Net income (loss) attributable to GameStop Corp. | 54.6 | 10.5 | 68.6 | 220.5 | 72.5 | 21 | (624.3 | ) | 261.1 | ||||||||||||||||||||||||
Basic net income (loss) per common share (3) | 0.46 | 0.09 | 0.59 | 1.91 | 0.54 | 0.16 | (5.08 | ) | 2.17 | ||||||||||||||||||||||||
Diluted net income (loss) per common share (3) | 0.46 | 0.09 | 0.58 | 1.89 | 0.54 | 0.16 | (5.08 | ) | 2.15 | ||||||||||||||||||||||||
Dividend declared per common share | 0.275 | 0.275 | 0.275 | 0.275 | 0.15 | 0.15 | 0.25 | 0.25 | |||||||||||||||||||||||||
The following footnotes are discussed as pretax expenses. | |||||||||||||||||||||||||||||||||
-1 | The results of operations for the third quarter of the fiscal year ended February 2, 2013 include goodwill impairments of $627.0 million and asset impairments of $51.8 million. | ||||||||||||||||||||||||||||||||
-2 | The results of operations for the fourth quarter of the fiscal year ended February 1, 2014 include goodwill impairments of $10.2 million and asset impairments of $18.5 million. Additionally, results include a $33.6 million benefit associated with changes in accounting estimates primarily related to our loyalty programs and other customer liabilities. | ||||||||||||||||||||||||||||||||
-3 | Basic net income (loss) per common share and diluted net income (loss) per common share are calculated based on net income (loss) attributable to GameStop Corp. |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Schedule of Prior Period Adjustments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Cash and cash equivalents | $536.20 | $374.40 | $415.80 |
Assets, Current | 1,949.60 | 1,749.50 | ' |
Total assets | 4,091.40 | 3,872.20 | 4,608.20 |
Accounts payable | 783.9 | 611.6 | ' |
Accrued liabilities | 861.7 | 738.9 | ' |
Liabilities, Current | 1,726 | 1,453.90 | ' |
Liabilities | 1,840 | 1,585.90 | ' |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Accounts payable and accrued liabilities | 302.4 | 25.9 | -87.4 |
Net Cash Provided by (Used in) Operating Activities | 762.7 | 610.2 | 641.8 |
Cash and cash equivalents at beginning of period | 374.4 | 415.8 | 454.5 |
Cash and cash equivalents at end of period | 536.2 | 374.4 | 415.8 |
Scenario, Previously Reported | ' | ' | ' |
Statement of Financial Position [Abstract] | ' | ' | ' |
Cash and cash equivalents | ' | 635.8 | 655 |
Assets, Current | ' | 2,010.90 | ' |
Total assets | ' | 4,133.60 | ' |
Accounts payable | ' | 870.9 | ' |
Accrued liabilities | ' | 741 | ' |
Liabilities, Current | ' | 1,715.30 | ' |
Liabilities | ' | 1,847.30 | ' |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Accounts payable and accrued liabilities | ' | 48.1 | -104.5 |
Net Cash Provided by (Used in) Operating Activities | ' | 632.4 | 624.7 |
Cash and cash equivalents at beginning of period | ' | 655 | 710.8 |
Cash and cash equivalents at end of period | ' | 635.8 | 655 |
Restatement Adjustment | ' | ' | ' |
Statement of Financial Position [Abstract] | ' | ' | ' |
Cash and cash equivalents | ' | -261.4 | -239.2 |
Assets, Current | ' | -261.4 | ' |
Total assets | ' | -261.4 | ' |
Accounts payable | ' | -259.3 | ' |
Accrued liabilities | ' | -2.1 | ' |
Liabilities, Current | ' | -261.4 | ' |
Liabilities | ' | -261.4 | ' |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Accounts payable and accrued liabilities | ' | -22.2 | 17.1 |
Net Cash Provided by (Used in) Operating Activities | ' | -22.2 | 17.1 |
Cash and cash equivalents at beginning of period | ' | -239.2 | -256.3 |
Cash and cash equivalents at end of period | ' | ($261.40) | ($239.20) |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Narrative (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Feb. 01, 2014 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 |
Store | Segment | Trade names | Trade names | Trade names | Trade names | Trade names | Sony Computer Entertainment | Sony Computer Entertainment | Sony Computer Entertainment | Microsoft | Microsoft | Microsoft | Nintendo | Nintendo | Nintendo | Electronic Arts | Electronic Arts | Electronic Arts | Activision | Activision | Activision | Take-Two Interactive | Selling, General and Administrative Expenses | Selling, General and Administrative Expenses | Selling, General and Administrative Expenses | Loyalty Program | Loyalty Program | Loyalty Program | United States | United States | United States | Australia | Australia | Australia | Australia | Canada | Canada | Canada | Canada | Europe | Europe | Europe | Europe | Leasehold rights | Leasehold rights | Advertising relationships | Favorable leasehold interests | Furniture, Fixtures and Equipment | Furniture, Fixtures and Equipment | Leasehold Improvements | Leasehold Improvements | Video Game Brands | ||||
Store | Maximum | Minimum | Maximum | Minimum | Maximum | Segment | ||||||||||||||||||||||||||||||||||||||||||||||||||
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stores | 6,675 | ' | 6,675 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating business segments | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 |
New product purchases, concentration percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 17.00% | 15.00% | 15.00% | 13.00% | 17.00% | 12.00% | 14.00% | 16.00% | 10.00% | 11.00% | 13.00% | 10.00% | 16.00% | 11.00% | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Weeks in Fiscal Year | ' | ' | '364 days | '371 days | '364 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | $16.40 | ' | $16.40 | $13.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory reserves | 76.5 | ' | 76.5 | 83.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful lives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '10 years | '3 years | '10 years | ' |
Depreciation | ' | ' | 152.9 | 163.1 | 172.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment impairments | ' | ' | 18.5 | 8.8 | 11.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairments | 10.2 | 627 | 10.2 | 627 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.2 | 0 | ' | 107.1 | 0 | 107.1 | ' | 100.3 | 0 | 100.3 | ' | 419.6 | 0 | 419.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess fair value over carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill write off | ' | ' | 10.2 | ' | 3.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets useful life | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | '10 years | ' | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | ' | 2.1 | 44.9 | 37.8 | 44.9 | 37.8 | 0 | 44.9 | 37.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.1 | 0 | 0 | ' | ' | 0 | 0 | ' | ' | 0 | 0 | ' | 0 | 44.9 | 37.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of rewards | ' | ' | 56.4 | 58.8 | 61.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18.2 | 31.2 | 37.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Check and credit card processing fees | ' | ' | 61.5 | 54.2 | 65.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising expenses | ' | ' | 57.8 | 63.9 | 65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction gains and (losses) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.30 | $2.50 | ($0.60) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Over the expected lease term not to exceed 20 years, with no residual value | ' | ' | 'Over their remaining lease term with no expected residual value | ' | ' | ' | ' | ' |
Foreign currency transactions description | ' | ' | '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 in the countries the Company operates in internationally. The foreign currency transaction gains and (losses) are primarily due to volatility in the value of the U.S. dollar compared to the Australian dollar, Canadian dollar and euro. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset_Impairments_and_Restruct2
Asset Impairments and Restructuring Charges - Summary Of Company's Asset Impairments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Feb. 01, 2014 | Oct. 27, 2012 | Nov. 02, 2013 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Goodwill impairments | $10.20 | $627 | ' | $10.20 | $627 | $0 |
Impairment of intangible assets | ' | ' | ' | 2.1 | 44.9 | 37.8 |
Impairment of technology assets | ' | ' | ' | 7.4 | ' | ' |
Impairments of property, equipment and other assets - store impairments | ' | ' | 9 | 9 | 8.8 | 11.2 |
Asset Impairment Charges | 18.5 | 51.8 | ' | 28.7 | 680.7 | ' |
United States | ' | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Goodwill impairments | ' | ' | ' | 10.2 | 0 | ' |
Impairment of intangible assets | ' | ' | ' | 2.1 | 0 | 0 |
Impairment of technology assets | ' | ' | ' | 7.4 | ' | ' |
Impairments of property, equipment and other assets - store impairments | ' | ' | ' | 4.3 | 5.7 | 3.2 |
Asset Impairment Charges | ' | ' | ' | 24 | 5.7 | ' |
Europe | ' | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Goodwill impairments | ' | 419.6 | ' | 0 | 419.6 | ' |
Impairment of intangible assets | ' | ' | ' | 0 | 44.9 | 37.8 |
Impairment of technology assets | ' | ' | ' | 0 | ' | ' |
Impairments of property, equipment and other assets - store impairments | ' | ' | ' | 4.7 | 2.5 | 6.4 |
Asset Impairment Charges | ' | ' | ' | 4.7 | 467 | ' |
Australia | ' | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Goodwill impairments | ' | 107.1 | ' | 0 | 107.1 | ' |
Impairment of intangible assets | ' | ' | ' | ' | 0 | 0 |
Impairments of property, equipment and other assets - store impairments | ' | ' | ' | ' | 0.2 | 0.5 |
Asset Impairment Charges | ' | ' | ' | ' | 107.3 | ' |
Canada | ' | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Goodwill impairments | ' | 100.3 | ' | 0 | 100.3 | ' |
Impairment of intangible assets | ' | ' | ' | ' | 0 | 0 |
Impairments of property, equipment and other assets - store impairments | ' | ' | ' | ' | 0.4 | 1.1 |
Asset Impairment Charges | ' | ' | ' | ' | $100.70 | ' |
Asset_Impairments_and_Restruct3
Asset Impairments and Restructuring Charges - Summary Of Company's Asset Impairments and Restructuring Charges (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 28, 2012 | Nov. 02, 2013 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | ' | $2.10 | $44.90 | $37.80 |
Impairment of investments in non-core businesses | 22.7 | ' | ' | ' | 22.7 |
Impairments of property, equipment and other assets - store impairments | ' | 9 | 9 | 8.8 | 11.2 |
Total | 81.2 | ' | 18.5 | 53.7 | 81.2 |
Termination benefits | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 5.6 |
Facility closure and other costs | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 3.9 |
United States | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | ' | 2.1 | 0 | 0 |
Impairment of investments in non-core businesses | ' | ' | ' | ' | 22.7 |
Impairments of property, equipment and other assets - store impairments | ' | ' | 4.3 | 5.7 | 3.2 |
Total | ' | ' | ' | ' | 28.9 |
United States | Termination benefits | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 3 |
United States | Facility closure and other costs | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 0 |
Canada | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | ' | ' | 0 | 0 |
Impairment of investments in non-core businesses | ' | ' | ' | ' | 0 |
Impairments of property, equipment and other assets - store impairments | ' | ' | ' | 0.4 | 1.1 |
Total | ' | ' | ' | ' | 1.3 |
Canada | Termination benefits | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 0.2 |
Canada | Facility closure and other costs | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 0 |
Australia | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | ' | ' | 0 | 0 |
Impairment of investments in non-core businesses | ' | ' | ' | ' | 0 |
Impairments of property, equipment and other assets - store impairments | ' | ' | ' | 0.2 | 0.5 |
Total | ' | ' | ' | ' | 0.6 |
Australia | Termination benefits | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 0 |
Australia | Facility closure and other costs | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 0.1 |
Europe | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | ' | 0 | 44.9 | 37.8 |
Impairment of investments in non-core businesses | ' | ' | ' | ' | 0 |
Impairments of property, equipment and other assets - store impairments | ' | ' | 4.7 | 2.5 | 6.4 |
Total | ' | ' | ' | ' | 50.4 |
Europe | Termination benefits | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | 2.4 |
Europe | Facility closure and other costs | ' | ' | ' | ' | ' |
Restructuring and Impairment Costs [Line Items] | ' | ' | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | $3.80 |
Asset_Impairments_and_Restruct4
Asset Impairments and Restructuring Charges - Narrative (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Feb. 01, 2014 | Oct. 27, 2012 | Jan. 28, 2012 | Nov. 02, 2013 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Asset Impairments Exit Costs And Other Charges [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | $9 | $9 | $8.80 | $11.20 |
Impairment of intangible assets | ' | ' | ' | ' | 2.1 | 44.9 | 37.8 |
Impairment of technology assets | ' | ' | ' | ' | 7.4 | ' | ' |
Goodwill impairments | 10.2 | 627 | ' | ' | 10.2 | 627 | 0 |
Property and equipment impairments | ' | ' | ' | ' | 18.5 | 8.8 | 11.2 |
Asset impairments and restructuring charges | ' | ' | 81.2 | ' | 18.5 | 53.7 | 81.2 |
Impairment of investments in non-core businesses | ' | ' | 22.7 | ' | ' | ' | 22.7 |
Trade names | ' | ' | ' | ' | ' | ' | ' |
Asset Impairments Exit Costs And Other Charges [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | 44.9 | 37.8 | ' | 0 | 44.9 | 37.8 |
Europe | ' | ' | ' | ' | ' | ' | ' |
Asset Impairments Exit Costs And Other Charges [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | 4.7 | 2.5 | 6.4 |
Impairment of intangible assets | ' | ' | ' | ' | 0 | 44.9 | 37.8 |
Impairment of technology assets | ' | ' | ' | ' | 0 | ' | ' |
Goodwill impairments | ' | 419.6 | ' | ' | 0 | 419.6 | ' |
Asset impairments and restructuring charges | ' | ' | ' | ' | ' | ' | 50.4 |
Impairment of investments in non-core businesses | ' | ' | ' | ' | ' | ' | 0 |
United States | ' | ' | ' | ' | ' | ' | ' |
Asset Impairments Exit Costs And Other Charges [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | 4.3 | 5.7 | 3.2 |
Impairment of intangible assets | ' | ' | ' | ' | 2.1 | 0 | 0 |
Impairment of technology assets | ' | ' | ' | ' | 7.4 | ' | ' |
Goodwill impairments | ' | ' | ' | ' | 10.2 | 0 | ' |
Asset impairments and restructuring charges | ' | ' | ' | ' | ' | ' | 28.9 |
Impairment of investments in non-core businesses | ' | ' | ' | ' | ' | ' | $22.70 |
Acquisitions_Schedule_of_Recog
Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) (USD $) | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Nov. 30, 2013 |
In Millions, unless otherwise specified | Spring Communications | |||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Current assets | ' | ' | ' | $19 |
Property and equipment | ' | ' | ' | 8.5 |
Identifiable intangible assets | ' | ' | ' | 39.6 |
Goodwill | 1,414.70 | 1,383.10 | 2,019 | 50.2 |
Current liabilities, excluding current portion of debt | ' | ' | ' | -11.4 |
Debt obligations, including current portion | ' | ' | ' | -34.5 |
Other long-term liabilities | ' | ' | ' | -8.8 |
Total purchase price | ' | ' | ' | $62.60 |
Acquisitions_Narrative_Detail
Acquisitions - Narrative (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Nov. 30, 2013 | Nov. 30, 2013 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Simply Mac | Spring Communications | Spring Communications | Series of Individually Immaterial Business Acquisitions | Series of Individually Immaterial Business Acquisitions | ||||
Business | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Voting Interests Acquired | ' | ' | ' | 50.10% | ' | ' | ' | ' |
Consideration Transferred | ' | ' | ' | $9.50 | $62.60 | $7.60 | $1.50 | $30.10 |
Liabilities Assumed During Acquisition | ' | ' | ' | ' | 34.5 | ' | ' | ' |
Repayments of revolver borrowings | 130 | 81 | 35 | ' | 31.9 | ' | ' | ' |
Identifiable intangible assets | ' | ' | ' | ' | 39.6 | ' | ' | ' |
Goodwill | 1,414.70 | 1,383.10 | 2,019 | ' | 50.2 | ' | 1.5 | 26.9 |
Debt Instrument, Term | '2 years | ' | ' | ' | ' | ' | ' | ' |
Notes Payable | $4 | ' | ' | ' | ' | ' | ' | ' |
Number of Businesses Acquired | ' | ' | ' | ' | ' | 4 | ' | ' |
Vendor_Arrangements_Narrative_
Vendor Arrangements - Narrative (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Vendor | |||
Disclosure Vendor Arrangements Additional Information [Abstract] | ' | ' | ' |
Number of vendors who participate in cooperative advertising programs with the company | 45 | ' | ' |
Vendor allowances received in excess of advertising expenses | $221 | $134.80 | $99 |
Selling, General, and Administrative Vendor Allowances | ' | $90.40 | $120.90 |
Computation_of_Net_Income_Loss2
Computation of Net Income (Loss) per Common Share - Reconciliation of Common Shares Used in Calculating Basic and Diluted Net Income (Loss) Per Common Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Feb. 01, 2014 | Nov. 02, 2013 | Aug. 03, 2013 | Apr. 27, 2013 | Feb. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Apr. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | ||||||||
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net Income (Loss) Attributable to Parent | $220.50 | [1] | $68.60 | $10.50 | $54.60 | $261.10 | ($624.30) | [2] | $21 | $72.50 | $354.20 | ($269.70) | $339.90 | ||||||
Weighted Average Number of Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 117.2 | 126.4 | 139.9 | ||||||||
Weighted Average Number Diluted Shares Outstanding Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 0 | 1.1 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 118.4 | 126.4 | 141 | ||||||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic (USD per share) | $1.91 | [1],[3] | $0.59 | [3] | $0.09 | [3] | $0.46 | [3] | $2.17 | [3] | ($5.08) | [2],[3] | $0.16 | [3] | $0.54 | [3] | $3.02 | ($2.13) | $2.43 |
Diluted (USD per share) | $1.89 | [1],[3] | $0.58 | [3] | $0.09 | [3] | $0.46 | [3] | $2.15 | [3] | ($5.08) | [2],[3] | $0.16 | [3] | $0.54 | [3] | $2.99 | ($2.13) | $2.41 |
[1] | The results of operations for the fourth quarter of the fiscal year ended February 1, 2014 include goodwill impairments of $10.2 million and asset impairments of $18.5 million. Additionally, results include a $33.6 million benefit associated with changes in accounting estimates primarily related to our loyalty programs and other customer liabilities. | ||||||||||||||||||
[2] | The results of operations for the third quarter of the fiscal year ended February 2, 2013 include goodwill impairments of $627.0 million and asset impairments of $51.8 million. | ||||||||||||||||||
[3] | Basic net income (loss) per common share and diluted net income (loss) per common share are calculated based on net income (loss) attributable to GameStop Corp. for the quarter. The sum of the quarters may not necessarily be equal to the full year net income (loss) per common share amount. |
Computation_of_Net_Income_Loss3
Computation of Net Income (Loss) per Common Share - Restricted Shares and Options to Purchase Shares of Class A Common Stock Excluded from Computation of Diluted Earnings Per Share (Detail) (Common Class A) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Common Class A | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti- Dilutive Shares | 1.5 | 3.3 | 2.5 |
Fair_Value_Measurements_and_Fi2
Fair Value Measurements and Financial Instruments - Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) (Fair Value, Inputs, Level 2, Fair Value, Measurements, Recurring, USD $) | Feb. 01, 2014 | Feb. 02, 2013 | ||
In Millions, unless otherwise specified | ||||
Assets | ' | ' | ||
Life insurance policies we own | $7.10 | [1] | $3.50 | [1] |
Total assets | 8.5 | 11.7 | ||
Liabilities | ' | ' | ||
Nonqualified deferred compensation | 1.1 | [2] | 0.9 | [2] |
Total liabilities | 24.6 | 14.4 | ||
Other current assets | Foreign Exchange Contract | ' | ' | ||
Assets | ' | ' | ||
Derivative assets | 0.9 | 7.3 | ||
Other noncurrent assets | Foreign Exchange Contract | ' | ' | ||
Assets | ' | ' | ||
Derivative assets | 0.5 | 0.9 | ||
Accrued liabilities | Foreign Exchange Contract | ' | ' | ||
Liabilities | ' | ' | ||
Derivative Liability | 21.3 | 9.1 | ||
Other long-term liabilities | Foreign Exchange Contract | ' | ' | ||
Liabilities | ' | ' | ||
Derivative Liability | $2.20 | $4.40 | ||
[1] | Recognized in other non-current assets in our consolidated balance sheets. | |||
[2] | Recognized in accrued liabilities in our consolidated balance sheets. |
Fair_Value_Measurements_and_Fi3
Fair Value Measurements and Financial Instruments - Gains and Losses on Derivative Instruments and Foreign Currency Transaction (Detail) (Selling, General and Administrative Expense, USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Selling, General and Administrative Expense | ' | ' | ' |
Fair Value Derivative Contract Assets and Liabilities Measured On Recurring Basis Gain Loss Included In Earnings [Line Items] | ' | ' | ' |
Gains (losses) on the changes in fair value of derivative instruments | ($20.30) | ($19.80) | $13.50 |
Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities | 23.6 | 22.3 | -14.1 |
Total | $3.30 | $2.50 | ($0.60) |
Fair_Value_Measurements_and_Fi4
Fair Value Measurements and Financial Instruments - Narrative (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Feb. 01, 2014 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Feb. 02, 2013 | |
Trade names | Trade names | Trade names | Trade names | Trade names | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | ||||||
Trade names | |||||||||||||
Fair Value of Financial Instruments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional value of foreign currency derivatives gross | $640,600,000 | ' | $640,600,000 | $669,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset Impairment Charges | 18,500,000 | 51,800,000 | 28,700,000 | 680,700,000 | ' | ' | ' | ' | ' | ' | 28,700,000 | 680,700,000 | ' |
Goodwill impairments | 10,200,000 | 627,000,000 | 10,200,000 | 627,000,000 | 0 | ' | ' | ' | ' | ' | 10,200,000 | 627,000,000 | ' |
Impairment of Intangible Assets, Finite-lived | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' |
Property and equipment impairments | ' | ' | 18,500,000 | 8,800,000 | 11,200,000 | ' | ' | ' | ' | ' | 16,400,000 | 8,800,000 | ' |
Impairment of intangible assets | ' | ' | 2,100,000 | 44,900,000 | 37,800,000 | 44,900,000 | 37,800,000 | 0 | 44,900,000 | 37,800,000 | ' | ' | 44,900,000 |
Senior Notes Payable, Fair Value | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' |
Receivables_Net_Summary_of_Rec
Receivables, Net - Summary of Receivables (Detail) (USD $) | Feb. 01, 2014 | Feb. 02, 2013 |
In Millions, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Bankcard receivables | $42.60 | $35.90 |
Other receivables | 45.5 | 40 |
Allowance for doubtful accounts | -3.7 | -2.3 |
Total receivables, net | $84.40 | $73.60 |
Accrued_Liabilities_Summary_of
Accrued Liabilities - Summary of Accrued Liabilities (Detail) (USD $) | Feb. 01, 2014 | Feb. 02, 2013 |
In Millions, unless otherwise specified | ||
Payables and Accruals [Abstract] | ' | ' |
Customer liabilities | $368.80 | $362.80 |
Deferred revenue | 118.1 | 93.5 |
Employee benefits, compensation and related taxes | 145.3 | 129.8 |
Other taxes | 53.5 | 60.5 |
Other accrued liabilities | 176 | 92.3 |
Total accrued liabilities | $861.70 | $738.90 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill for Operating Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Feb. 01, 2014 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | $1,383.10 | $2,019 | ' |
Acquisitions (Note 3) | ' | ' | 62.1 | 1.5 | ' |
Impairment | -10.2 | -627 | -10.2 | -627 | 0 |
Foreign currency translation adjustment | ' | ' | -20.3 | -10.4 | ' |
Ending balance | 1,414.70 | ' | 1,414.70 | 1,383.10 | 2,019 |
United States | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | 1,153.50 | 1,152 | ' |
Acquisitions (Note 3) | ' | ' | 0 | 1.5 | ' |
Impairment | ' | ' | -10.2 | 0 | ' |
Foreign currency translation adjustment | ' | ' | 0 | 0 | ' |
Ending balance | 1,143.30 | ' | 1,143.30 | 1,153.50 | ' |
Canada | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | 37.7 | 137.4 | ' |
Acquisitions (Note 3) | ' | ' | 0 | 0 | ' |
Impairment | ' | -100.3 | 0 | -100.3 | ' |
Foreign currency translation adjustment | ' | ' | -3.9 | 0.6 | ' |
Ending balance | 33.8 | ' | 33.8 | 37.7 | ' |
Australia | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | 96.6 | 210 | ' |
Acquisitions (Note 3) | ' | ' | 0 | 0 | ' |
Impairment | ' | -107.1 | 0 | -107.1 | ' |
Foreign currency translation adjustment | ' | ' | -15.3 | -6.3 | ' |
Ending balance | 81.3 | ' | 81.3 | 96.6 | ' |
Europe | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | 95.3 | 519.6 | ' |
Acquisitions (Note 3) | ' | ' | 0 | 0 | ' |
Impairment | ' | -419.6 | 0 | -419.6 | ' |
Foreign currency translation adjustment | ' | ' | -1.1 | -4.7 | ' |
Ending balance | 94.2 | ' | 94.2 | 95.3 | ' |
Technology Brands | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | 0 | 0 | ' |
Acquisitions (Note 3) | ' | ' | 62.1 | 0 | ' |
Impairment | ' | ' | 0 | 0 | ' |
Foreign currency translation adjustment | ' | ' | 0 | 0 | ' |
Ending balance | $62.10 | ' | $62.10 | $0 | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Schedule of Intangible Assets Other Than Goodwill (Details) (USD $) | Feb. 01, 2014 | Feb. 02, 2013 | |
In Millions, unless otherwise specified | |||
Indefinite-lived Intangible Assets [Line Items] | ' | ' | |
Finite-Lived Intangible Assets, Accumulated Amortization | ($71.60) | ($59.50) | |
Indefinite and Finite-Lived Intangible Assets, Gross | 265.9 | [1] | 212.9 |
Indefinite and Finite-Lived Intangible Assets, Net Carrying Amount | 194.3 | 153.4 | |
Trade names | ' | ' | |
Indefinite-lived Intangible Assets [Line Items] | ' | ' | |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 54.2 | [1] | 54.8 |
Dealer agreement | ' | ' | |
Indefinite-lived Intangible Assets [Line Items] | ' | ' | |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 57.2 | [1] | 0 |
Key money | ' | ' | |
Indefinite-lived Intangible Assets [Line Items] | ' | ' | |
Finite-Lived Intangible Assets, Gross | 113.6 | [1] | 115.9 |
Finite-Lived Intangible Assets, Accumulated Amortization | -44.4 | -39.1 | |
Finite-Lived Intangible Assets, Net | 69.2 | 76.8 | |
Other | ' | ' | |
Indefinite-lived Intangible Assets [Line Items] | ' | ' | |
Finite-Lived Intangible Assets, Gross | 40.9 | [1] | 42.2 |
Finite-Lived Intangible Assets, Accumulated Amortization | -27.2 | -20.4 | |
Finite-Lived Intangible Assets, Net | $13.70 | $21.80 | |
[1] | The majority of the change in the gross carrying amount of intangible assets is due to business acquisitions (Note 3). |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Estimated Aggregate Amortization Expenses for Deferred Financing Fees and Other Intangible Assets (Detail) (Other, USD $) | Feb. 01, 2014 |
In Millions, unless otherwise specified | |
Other | ' |
Expected Amortization Expense [Line Items] | ' |
2015 | $12.50 |
2016 | 11.9 |
2017 | 9.8 |
2018 | 9 |
2019 | 8.6 |
Finite Lived Intangible Assets Future Amortization Expense | $51.80 |
Goodwill_and_Intangible_Assets5
Goodwill and Intangible Assets - Narrative (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Feb. 01, 2014 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Oct. 27, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Segment | Trade names | Trade names | Trade names | Trade names | Trade names | Australia | Australia | Australia | Australia | Canada | Canada | Canada | Canada | Europe | Europe | Europe | Europe | United States | United States | United States | |||||
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating segments | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairments | $10.20 | $627 | $10.20 | $627 | $0 | ' | ' | ' | ' | ' | $107.10 | $0 | $107.10 | ' | $100.30 | $0 | $100.30 | ' | $419.60 | $0 | $419.60 | ' | $10.20 | $0 | ' |
Goodwill write off | ' | ' | 10.2 | ' | 3.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.2 | ' | ' |
Goodwill, Accumulated Impairment Loss | 640.5 | ' | 640.5 | ' | ' | ' | ' | ' | ' | ' | ' | 107.1 | ' | ' | ' | 100.3 | ' | ' | ' | 419.6 | ' | ' | 13.5 | ' | ' |
Total weighted-average amortization period for finite lived intangible assets | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | ' | 2.1 | 44.9 | 37.8 | 44.9 | 37.8 | 0 | 44.9 | 37.8 | ' | ' | 0 | 0 | ' | ' | 0 | 0 | ' | 0 | 44.9 | 37.8 | 2.1 | 0 | 0 |
Amortization of Intangible Assets | ' | ' | $14 | $14.30 | $17.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Narrative_Detail
Debt - Narrative (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Sep. 30, 2007 | Jan. 28, 2012 | Feb. 01, 2014 | Jan. 04, 2011 | Feb. 01, 2014 | Feb. 01, 2014 | Jan. 04, 2011 | Jan. 04, 2011 | Feb. 01, 2014 | Feb. 01, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | |
Minimum | Maximum | Prime Rate | Prime Rate | Prime Rate | LIBOR | LIBOR | LIBOR | Unsecured Debt | LUXEMBOURG | LUXEMBOURG | Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Federal Funds Rate | One Month LIBOR | Subsequent Event | Subsequent Event | Subsequent Event | ||||
Minimum | Maximum | Minimum | Maximum | Appraisal value of the inventory | Eligible credit card receivables, net of certain reserves | Asset Based Loan Facility | Letter of Credit, sublimit | Prime Rate | Prime Rate | Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | ||||||||||||||
Letter of Credit, sublimit | ||||||||||||||||||||||||||
Debt Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement, date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4-Jan-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, current borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20,000,000 | ' | ' | $400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of Credit Facility Original Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | '5 years | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | 50,000,000 | ' | ' | ' | 400,000,000 | 50,000,000 |
Line Of Credit Facility Additional Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | ' | ' | ' | 150,000,000 | 200,000,000 | ' |
Line of credit facility, maximum borrowing capacity percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | 90.00% | ' | ' | ' | ' | ' | ' | ' |
Threshold for revolver excess availability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Projected revolver usage percentage of the borrowing base during the prospective 12-month period, which is subject to meeting a fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment or the borrowing base, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lesser of the total commitment or the borrowing base, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of Credit facility, for general unsecured obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of credit facility, available for finance acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage in addition to the effective rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 1.00% | ' | ' | ' |
Interest Rate Margin | ' | ' | ' | ' | ' | ' | 1.25% | 1.50% | ' | 2.25% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility unused capacity commitment fee percentage | 0.50% | ' | ' | 0.38% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Applicable margin rate | ' | ' | ' | ' | ' | 1.25% | ' | ' | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings from the revolver | 130,000,000 | 81,000,000 | 35,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Average Outstanding Amount | 14,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate During Period | 2.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of revolver borrowings | 130,000,000 | 81,000,000 | 35,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total availability under the revolver | 391,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding balance under revolving credit Facility | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding | 9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash overdrafts outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bank guarantees outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Leases_Approximate_Rental_Expe
Leases - Approximate Rental Expenses Under Operating Leases (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Leases [Abstract] | ' | ' | ' |
Minimum | $381.60 | $385.40 | $386.90 |
Percentage rentals | 9.4 | 9.3 | 12.3 |
Operating Leases Rent Expense Net | $391 | $394.70 | $399.20 |
Leases_Future_Minimum_Annual_R
Leases - Future Minimum Annual Rentals, Excluding Percentage Rentals, Required Under Leases That Had Initial, Noncancelable Lease Terms Greater Than One Year (Detail) (USD $) | Feb. 01, 2014 |
In Millions, unless otherwise specified | |
Leases [Abstract] | ' |
2015 | $332.50 |
2016 | 243.2 |
2017 | 162.6 |
2018 | 103.3 |
2019 | 67.8 |
Thereafter | 130 |
Operating Leases Future Minimum Payments Due | $1,039.40 |
Commitments_and_Contingencies_
Commitments and Contingencies - Narrative (Details) (USD $) | Feb. 01, 2014 | Feb. 02, 2013 |
In Millions, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Bank Guarantee Relating To International Store Leases | $18.70 | $21 |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Tax (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Current tax expense: | ' | ' | ' |
Federal | $158.20 | $229.60 | $193.50 |
State | 24.5 | 24.1 | 20.9 |
Foreign | 34.6 | 29.4 | 21.4 |
Current Income Tax Expense Benefit | 217.3 | 283.1 | 235.8 |
Deferred tax expense (benefit): | ' | ' | ' |
Federal | -1.9 | -46.3 | -10.2 |
State | -0.1 | -3.5 | -0.2 |
Foreign | -0.7 | -8.4 | -14.8 |
Deferred Income Tax Expense Benefit | -2.7 | -58.2 | -25.2 |
Total income tax expense | $214.60 | $224.90 | $210.60 |
Income_Taxes_Components_of_Ear
Income Taxes - Components of Earnings Before Income Tax Expense (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | $491.60 | $547.20 | $551.90 |
International | 77.2 | -592.1 | -2.8 |
Earnings (loss) before income tax expense | $568.80 | ($44.90) | $549.10 |
Income_Taxes_Difference_in_Inc
Income Taxes - Difference in Income Tax Provided and Amounts Determined by Applying the Statutory Rate to Income Before Income Taxes (Detail) | 12 Months Ended | |||||
Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | ||||
Income Tax Disclosure [Abstract] | ' | ' | ' | |||
Federal statutory tax rate | 35.00% | 35.00% | 35.00% | |||
State income taxes, net of federal benefit | 1.90% | -27.70% | 2.60% | |||
Foreign income taxes | -0.50% | 5.60% | 1.30% | |||
Nondeductible goodwill impairments | 0.60% | -488.60% | 0.00% | |||
Change in valuation allowance | 0.00% | -22.50% | 0.10% | |||
Subpart F income | 4.80% | -61.40% | 4.60% | |||
Interest income from hybrid securities | -5.80% | 73.30% | -6.10% | |||
Other (including permanent differences) 1 | 1.70% | [1] | -14.60% | [1] | 0.90% | [1] |
Effective Income Tax Rate, Continuing Operations, Total | 37.70% | -500.90% | 38.40% | |||
Effective Income Tax Rate Reconciliation, Other, Threshold of Items Included as a Percentage of Earnings Before Income Taxes | 1.75% | 1.75% | 1.75% | |||
[1] | Other is comprised of numerous items, none of which is greater than 1.75% of earnings before income taxes. |
Income_Taxes_Components_of_Def
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) (USD $) | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
In Millions, unless otherwise specified | |||
Deferred tax asset: | ' | ' | ' |
Inventory obsolescence reserve | $18.80 | $23.60 | ' |
Deferred rents | 12.4 | 13.6 | ' |
Stock-based compensation | 26.4 | 25.3 | ' |
Net operating losses | 16.8 | 15 | ' |
Customer liabilities | 31.9 | 38.1 | ' |
Property and equipment | 21.9 | 9.3 | ' |
Foreign tax credit carryover | 1.4 | 0 | ' |
Other | 9.4 | 11.1 | ' |
Total deferred tax assets | 139 | 136 | ' |
Valuation allowance | -13.3 | -13.5 | -3.4 |
Total deferred tax assets, net | 125.7 | 122.5 | ' |
Deferred tax liabilities: | ' | ' | ' |
Goodwill | -80.3 | -55 | ' |
Prepaid expenses | -4.9 | -6.6 | ' |
Acquired intangible assets | -20.6 | -24.6 | ' |
Other | -5.6 | -6.1 | ' |
Total deferred tax liabilities | -111.4 | -92.3 | ' |
Net | 14.3 | 30.2 | ' |
Consolidated financial statements: | ' | ' | ' |
Deferred income tax assets — current | 51.7 | 61.7 | ' |
Deferred income tax liabilities — noncurrent | ($37.40) | ($31.50) | ' |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Changes in Gross Balances of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Beginning balance of unrecognized tax benefits | $28.70 | $25.40 | $24.90 |
Increases related to current period tax positions | 0.5 | 0.5 | 0 |
Increases related to prior period tax positions | 16.6 | 6.3 | 9.9 |
Reductions as a result of a lapse of the applicable statute of limitations | -1.9 | -3.2 | -2 |
Reductions as a result of settlements with taxing authorities | -23.3 | -0.3 | -7.4 |
Ending balance of unrecognized tax benefits | $20.60 | $28.70 | $25.40 |
Income_Taxes_Narrative_Detail
Income Taxes - Narrative (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Jan. 29, 2011 |
Income Taxes [Line Items] | ' | ' | ' | ' |
Valuation allowance | $13.30 | $13.50 | $3.40 | ' |
Gross amount of unrecognized tax benefits | 20.6 | 28.7 | 25.4 | 24.9 |
Unrecognized tax benefits that would impact effective tax rate | 18.5 | ' | ' | ' |
Unrecognized tax benefits, interest and penalties accrued | 6.1 | 5.4 | 3.2 | ' |
Unrecognized tax benefits, interest and penalties expense | 1.6 | -2.3 | -2.7 | ' |
Undistributed Earnings of Foreign Subsidiaries | $542.10 | ' | ' | ' |
State and Local Jurisdiction | Minimum | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Income tax examination, length of period subject to examination | '3 years | ' | ' | ' |
State and Local Jurisdiction | Maximum | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Income tax examination, length of period subject to examination | '6 years | ' | ' | ' |
Foreign Country | Minimum | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Income tax examination, length of period subject to examination | '3 years | ' | ' | ' |
Foreign Country | Maximum | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Income tax examination, length of period subject to examination | '6 years | ' | ' | ' |
Stock_Incentive_Plan_Schedule_
Stock Incentive Plan - Schedule of Stock Option Valuation Assumptions (Details) | 12 Months Ended |
Feb. 01, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Volatility | 46.40% |
Risk-free interest rate | 1.00% |
Expected life (years) | '5 years 7 months 6 days |
Expected dividend yield | 4.30% |
Stock_Incentive_Plan_Summary_o
Stock Incentive Plan - Summary of Status of Company's Stock Options (Detail) (USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Feb. 01, 2014 |
Shares | ' |
Balance, beginning | 4.6 |
Granted | 0.5 |
Exercised | -2.8 |
Forfeited | -0.3 |
Balance, ending | 2 |
Weighted-Average Exercise Price | ' |
Balance, beginning | $25.04 |
Granted | $24.82 |
Exercised | $20.84 |
Forfeited | $38.33 |
Balance, ending | $29.31 |
Stock_Incentive_Plan_Summary_o1
Stock Incentive Plan - Summary of Outstanding and Exercisable Options (Detail) (USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Feb. 01, 2014 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Prices, lower limit | $9.29 |
Range of Exercise Prices, upper limit | $49.95 |
Options Outstanding, Number Outstanding | 2 |
Options Outstanding, Weighted-Average Remaining Life (Years) | '4 years 8 months 15 days |
Options Outstanding, Weighted-Average Contractual Price | $29.31 |
Options Exercisable, Number Exercisable | 1.6 |
Options Exercisable, Weighted-Average Exercise Price | $30.61 |
$ 9.29 - $10.13 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Prices, lower limit | $9.29 |
Range of Exercise Prices, upper limit | $10.13 |
Options Outstanding, Number Outstanding | 0.3 |
Options Outstanding, Weighted-Average Remaining Life (Years) | '1 year 1 month 2 days |
Options Outstanding, Weighted-Average Contractual Price | $10.11 |
Options Exercisable, Number Exercisable | 0.3 |
Options Exercisable, Weighted-Average Exercise Price | $10.11 |
$17.94 - $20.69 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Prices, lower limit | $17.94 |
Range of Exercise Prices, upper limit | $20.69 |
Options Outstanding, Number Outstanding | 0.3 |
Options Outstanding, Weighted-Average Remaining Life (Years) | '4 years 1 month 2 days |
Options Outstanding, Weighted-Average Contractual Price | $20.18 |
Options Exercisable, Number Exercisable | 0.3 |
Options Exercisable, Weighted-Average Exercise Price | $20.18 |
$24.82 - $26.68 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Prices, lower limit | $26.02 |
Range of Exercise Prices, upper limit | $26.69 |
Options Outstanding, Number Outstanding | 0.8 |
Options Outstanding, Weighted-Average Remaining Life (Years) | '6 years 11 months 12 days |
Options Outstanding, Weighted-Average Contractual Price | $25.45 |
Options Exercisable, Number Exercisable | 0.4 |
Options Exercisable, Weighted-Average Exercise Price | $26.24 |
$49.95 - $49.95 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Prices, lower limit | $49.95 |
Range of Exercise Prices, upper limit | $49.95 |
Options Outstanding, Number Outstanding | 0.6 |
Options Outstanding, Weighted-Average Remaining Life (Years) | '4 years 0 months 6 days |
Options Outstanding, Weighted-Average Contractual Price | $49.95 |
Options Exercisable, Number Exercisable | 0.6 |
Options Exercisable, Weighted-Average Exercise Price | $49.95 |
Stock_Incentive_Plan_Summary_o2
Stock Incentive Plan - Summary of Company's Restricted Stock Awards (Detail) (Restricted Stock, USD $) | 12 Months Ended | |
Feb. 01, 2014 | Feb. 02, 2013 | |
Restricted Stock | ' | ' |
Shares | ' | ' |
Nonvested shares at beginning of period | 1,800,000 | ' |
Granted | 1,200,000 | 1,400,000 |
Vested | -600,000 | ' |
Forfeited | -100,000 | ' |
Nonvested shares at end of period | 2,300,000 | 1,800,000 |
Weighted-Average Grant Date Fair Value | ' | ' |
Nonvested shares at beginning of period | $22.92 | ' |
Granted | $24.82 | $23.66 |
Vested | $21.99 | ' |
Forfeited | $23.98 | ' |
Nonvested shares at end of period | $24.10 | $22.92 |
Stock_Incentive_Plan_Narrative
Stock Incentive Plan - Narrative (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Weighted average fair value of option, per share | $7.10 | ' | ' |
Total intrinsic value of options exercised | $53.50 | $7.70 | $16 |
Intrinsic value of options exercisable | 15.9 | ' | ' |
Intrinsic value of options outstanding | 20.5 | ' | ' |
Options granted | 500,000 | ' | ' |
Stock Options | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Share-based compensation expense | 1 | 2.1 | 6.4 |
Unrecognized compensation expense | 2.2 | ' | ' |
Restricted Stock | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Share-based compensation expense | 18.4 | 17.5 | 12.4 |
Unrecognized compensation expense | $28.10 | ' | ' |
Shares granted | 1,200,000 | 1,400,000 | ' |
Weighted average grant date fair value | $24.82 | $23.66 | ' |
Shares vested | 600,000 | ' | ' |
shares forfeited | 100,000 | ' | ' |
Weighted average period related to unrecognized compensation expense | '1 year 9 months 18 days | ' | ' |
2011 Stock Incentive Plan | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Maximum aggregate incentive plan | 9,250,000 | ' | ' |
2011 Stock Incentive Plan | Stock Options | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Vesting period | '3 years | ' | ' |
Expiration term | '10 years | ' | ' |
2011 Stock Incentive Plan | Restricted Stock | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Vesting period | ' | '3 years | '3 years |
Shares granted | 916,000 | 783,000 | ' |
2011 Stock Incentive Plan | Restricted Stock | Additional Grants Subject to Performance Metrics | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Shares granted | 262,000 | 626,000 | ' |
2011 Stock Incentive Plan | Restricted Stock | Stock Grants subject to performance targets measured for the period ending 2013 | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Shares granted | 131,000 | ' | ' |
2011 Stock Incentive Plan | Restricted Stock | Stock Grants subject to performance targets measured for the period ending 2016 | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Shares granted | 131,000 | ' | ' |
2011 Stock Incentive Plan | Restricted Stock | Stock Grants subject to performance targets measured for the period ending 2015 | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Shares granted | ' | 500,000 | ' |
2011 Stock Incentive Plan | Restricted Stock | Stock Grants subject to performance targets achieved in 2012 | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Shares vested | ' | 101,000 | ' |
2011 Stock Incentive Plan | Restricted Stock | Stock Grants subject to performance targets not achieved in 2012 | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
shares forfeited | ' | 25,000 | ' |
2001 Stock Incentive Plan | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Maximum aggregate incentive plan | 46,500,000 | ' | ' |
2001 Stock Incentive Plan | Stock Options | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Vesting period | '10 years | ' | ' |
Expiration term | '3 years | ' | ' |
Subsequent Event | Restricted Stock | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Vesting period | '3 years | ' | ' |
Shares granted | 588,000 | ' | ' |
Weighted average grant date fair value | $38.52 | ' | ' |
Subsequent Event | Restricted Stock | Additional Grants Subject to Performance Metrics | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Shares granted | 315,000 | ' | ' |
Subsequent Event | Restricted Stock | Stock Grants subject to performance targets measured for the period ending 2015 | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Shares granted | 182,000 | ' | ' |
Subsequent Event | Restricted Stock | Stock Grants subject to performance targets measured for the period ending 2017 | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Shares granted | 91,000 | ' | ' |
Subsequent Event | 2011 Stock Incentive Plan | Stock Options | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' |
Options granted | 283,000 | ' | ' |
Employees_Defined_Contribution1
Employees' Defined Contribution Plan - Narrative (Detail) (USD $) | 12 Months Ended | ||
Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Company's contributions to the Savings plan | $4,800,000 | $4,600,000 | $4,100,000 |
Maximum | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage of eligible gross cash compensation employees are allowed to invest in the savings plan | 60.00% | ' | ' |
Employee annual investment in the savings plan, maximum | $17,500 | ' | ' |
Significant_Products_Sales_and
Significant Products - Sales and Sales Percentage by Significant Product Category (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Feb. 01, 2014 | Nov. 02, 2013 | Aug. 03, 2013 | Apr. 27, 2013 | Feb. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Apr. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | $3,683.80 | $2,106.70 | $1,383.70 | $1,865.30 | $3,561.50 | $1,772.80 | $1,550.20 | $2,002.20 | $9,039.50 | $8,886.70 | $9,550.50 |
Percent of Total | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% |
New video game hardware | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,730 | 1,333.40 | 1,611.60 |
Percent of Total | ' | ' | ' | ' | ' | ' | ' | ' | 19.10% | 15.00% | 16.90% |
New video game software | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,480.90 | 3,582.40 | 4,048.20 |
Percent of Total | ' | ' | ' | ' | ' | ' | ' | ' | 38.50% | 40.30% | 42.40% |
Pre-owned and value video game products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,329.80 | 2,430.50 | 2,620.20 |
Percent of Total | ' | ' | ' | ' | ' | ' | ' | ' | 25.80% | 27.40% | 27.40% |
Video game accessories | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 560.6 | 611.8 | 661.1 |
Percent of Total | ' | ' | ' | ' | ' | ' | ' | ' | 6.20% | 6.90% | 6.90% |
Digital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 217.7 | 208.4 | 143 |
Percent of Total | ' | ' | ' | ' | ' | ' | ' | ' | 2.40% | 2.30% | 1.50% |
Mobile and consumer electronics | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | 303.7 | 200.3 | 12.8 |
Percent of Total | ' | ' | ' | ' | ' | ' | ' | ' | 3.40% | 2.30% | 0.10% |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | ' | ' | $416.80 | $519.90 | $453.60 |
Percent of Total | ' | ' | ' | ' | ' | ' | ' | ' | 4.60% | 5.80% | 4.80% |
Significant_Products_Gross_Pro
Significant Products - Gross Profit and Gross Profit Percentages by Significant Product Category (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Feb. 01, 2014 | Nov. 02, 2013 | Aug. 03, 2013 | Apr. 27, 2013 | Feb. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Apr. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Profit | $1,003.20 | $598.30 | $481.30 | $578.30 | $974.90 | $557.40 | $519.30 | $599.90 | $2,661.10 | $2,651.50 | $2,679.50 |
Gross Margin Percent | ' | ' | ' | ' | ' | ' | ' | ' | 29.40% | 29.80% | 28.10% |
New video game hardware | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 176.5 | 101.7 | 113.6 |
Gross Margin Percent | ' | ' | ' | ' | ' | ' | ' | ' | 10.20% | 7.60% | 7.00% |
New video game software | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 805.3 | 786.3 | 839 |
Gross Margin Percent | ' | ' | ' | ' | ' | ' | ' | ' | 23.10% | 21.90% | 20.70% |
Pre-owned and value video game products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 1,093.90 | 1,170.10 | 1,221.20 |
Gross Margin Percent | ' | ' | ' | ' | ' | ' | ' | ' | 47.00% | 48.10% | 46.60% |
Video game accessories | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 220.5 | 237.9 | 251.9 |
Gross Margin Percent | ' | ' | ' | ' | ' | ' | ' | ' | 39.30% | 38.90% | 38.10% |
Digital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 149.2 | 120.9 | 66.5 |
Gross Margin Percent | ' | ' | ' | ' | ' | ' | ' | ' | 68.50% | 58.00% | 46.50% |
Mobile and consumer electronics | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 65.1 | 41.3 | 3.5 |
Gross Margin Percent | ' | ' | ' | ' | ' | ' | ' | ' | 21.40% | 20.60% | 27.30% |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | $150.60 | $193.30 | $183.80 |
Gross Margin Percent | ' | ' | ' | ' | ' | ' | ' | ' | 36.10% | 37.20% | 40.50% |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | Feb. 01, 2014 |
Location | |
United States | ' |
Segment Reporting Disclosure [Line Items] | ' |
Number of states the entity operates | 50 |
Europe | Retail Site | ' |
Segment Reporting Disclosure [Line Items] | ' |
Number of countries in which the entity operates | 11 |
Europe | E- Commerce | ' |
Segment Reporting Disclosure [Line Items] | ' |
Number of countries in which the entity operates | 6 |
Segment_Information_Informatio
Segment Information - Information on Segments and Reconciliation to Earnings Before Income Taxes (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Feb. 01, 2014 | Nov. 02, 2013 | Aug. 03, 2013 | Apr. 27, 2013 | Feb. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Apr. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net sales | $3,683.80 | $2,106.70 | $1,383.70 | $1,865.30 | $3,561.50 | $1,772.80 | $1,550.20 | $2,002.20 | $9,039.50 | $8,886.70 | $9,550.50 | ||
Segment operating earnings (loss) | 358.4 | [1] | 109.1 | 18.8 | 87.2 | 412.3 | -603.5 | [2] | 34.5 | 115 | 573.5 | -41.6 | 569.9 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 0.9 | 0.9 | ||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -5.6 | -4.2 | -20.7 | ||
Gains (Losses) on Extinguishment of Debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1 | ||
Earnings before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 568.8 | -44.9 | 549.1 | ||
Goodwill | 1,414.70 | ' | ' | ' | 1,383.10 | ' | ' | ' | 1,414.70 | 1,383.10 | 2,019 | ||
Other long-lived assets | 727.1 | ' | ' | ' | 739.6 | ' | ' | ' | 727.1 | 739.6 | 831.1 | ||
Total assets | 4,091.40 | ' | ' | ' | 3,872.20 | ' | ' | ' | 4,091.40 | 3,872.20 | 4,608.20 | ||
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 214.6 | 224.9 | 210.6 | ||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 166.5 | 176.5 | 186.3 | ||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 125.6 | 139.6 | 165.1 | ||
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 6,160.40 | 6,192.40 | 6,637 | ||
Segment operating earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 465.3 | 501.9 | 501.9 | ||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Earnings before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Goodwill | 1,143.30 | ' | ' | ' | 1,153.50 | ' | ' | ' | 1,143.30 | 1,153.50 | 1,152 | ||
Other long-lived assets | 320 | ' | ' | ' | 375.4 | ' | ' | ' | 320 | 375.4 | 404 | ||
Total assets | 2,320.70 | ' | ' | ' | 2,404 | ' | ' | ' | 2,320.70 | 2,404 | 2,479 | ||
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 173.2 | 199.8 | 197.4 | ||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 115.4 | 120.7 | 126.4 | ||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 85.7 | 101.8 | 108.7 | ||
Canada | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 468.8 | 478.4 | 498.4 | ||
Segment operating earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 26.6 | -74.4 | 12.4 | ||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Earnings before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Goodwill | 33.8 | ' | ' | ' | 37.7 | ' | ' | ' | 33.8 | 37.7 | 137.4 | ||
Other long-lived assets | 20.8 | ' | ' | ' | 21 | ' | ' | ' | 20.8 | 21 | 23 | ||
Total assets | 228.7 | ' | ' | ' | 252.2 | ' | ' | ' | 228.7 | 252.2 | 350.8 | ||
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 11.6 | 7.1 | 4.2 | ||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 4.4 | 5.1 | 6.1 | ||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 6.9 | 3.6 | 3.2 | ||
Australia | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 613.7 | 607.3 | 604.7 | ||
Segment operating earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 37.5 | -71.6 | 35.4 | ||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Earnings before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Goodwill | 81.3 | ' | ' | ' | 96.6 | ' | ' | ' | 81.3 | 96.6 | 210 | ||
Other long-lived assets | 40.4 | ' | ' | ' | 52.1 | ' | ' | ' | 40.4 | 52.1 | 58.3 | ||
Total assets | 389.2 | ' | ' | ' | 416.6 | ' | ' | ' | 389.2 | 416.6 | 513.3 | ||
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 8.8 | 11.6 | 11.7 | ||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 10.5 | 13.8 | 12.4 | ||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 6.7 | 9.2 | 24.4 | ||
Europe | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,733.80 | 1,608.60 | 1,810.40 | ||
Segment operating earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 44.3 | -397.5 | 20.2 | ||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Earnings before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Goodwill | 94.2 | ' | ' | ' | 95.3 | ' | ' | ' | 94.2 | 95.3 | 519.6 | ||
Other long-lived assets | 269.3 | ' | ' | ' | 291.1 | ' | ' | ' | 269.3 | 291.1 | 345.8 | ||
Total assets | 972.2 | ' | ' | ' | 799.4 | ' | ' | ' | 972.2 | 799.4 | 1,265.10 | ||
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 21 | 6.4 | -2.7 | ||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 35.3 | 36.9 | 41.4 | ||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 21.4 | 25 | 28.8 | ||
Technology Brands | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 62.8 | 0 | 0 | ||
Segment operating earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | 0 | 0 | ||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Earnings before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Goodwill | 62.1 | ' | ' | ' | 0 | ' | ' | ' | 62.1 | 0 | 0 | ||
Other long-lived assets | 76.6 | ' | ' | ' | 0 | ' | ' | ' | 76.6 | 0 | 0 | ||
Total assets | 180.6 | ' | ' | ' | 0 | ' | ' | ' | 180.6 | 0 | 0 | ||
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 0 | 0 | ||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | $4.90 | $0 | $0 | ||
[1] | The results of operations for the fourth quarter of the fiscal year ended February 1, 2014 include goodwill impairments of $10.2 million and asset impairments of $18.5 million. Additionally, results include a $33.6 million benefit associated with changes in accounting estimates primarily related to our loyalty programs and other customer liabilities. | ||||||||||||
[2] | The results of operations for the third quarter of the fiscal year ended February 2, 2013 include goodwill impairments of $627.0 million and asset impairments of $51.8 million. |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 |
Cash paid during the period for: | ' | ' | ' |
Interest | $2.70 | $2.70 | $24.70 |
Income taxes | 238 | 246.1 | 210.7 |
Acquisitions: | ' | ' | ' |
Goodwill | 62.1 | 1.5 | 26.9 |
Noncontrolling interests | 0 | 0 | 0.1 |
Net assets acquired | 15.3 | 0 | 3.1 |
Cash paid for acquisitions, net of cash acquired | $77.40 | $1.50 | $30.10 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||
Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Jan. 29, 2011 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | Feb. 02, 2013 | Mar. 04, 2014 | Feb. 01, 2014 | Feb. 01, 2014 | |
Right | Subsequent Event | Series A Preferred Stock | Class A Common Stock | Class A Common Stock | Class A Common Stock | Class A Common Stock | Minimum | ||||
Vote | Subsequent Event | Subsequent Event | |||||||||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Voting Rights | 'one vote per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rights Attached to each Common Stock Share, Number | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.0001 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting power of outstanding common stock a person or group should acquire to exercise the right | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% |
Purchase price per one, one-thousandth of a share | $100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting interest | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock redemption price per Right | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, authorized | 5,000,000 | 5,000,000 | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' |
Preferred stock, par value | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, dividend payment | ' | ' | ' | ' | ' | 'Preferred dividend equal to the greater of $1.00 or one thousand times any dividend declared on the Company's common stock. | ' | ' | ' | ' | ' |
Preferred liquidation payment | ' | ' | ' | ' | ' | $1,000 | ' | ' | ' | ' | ' |
Votes per share | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' |
Preferred stock, outstanding | 0 | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | ' |
Share repurchase program, authorized amount | $500,000,000 | $500,000,000 | $500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares repurchased | 6,300,000 | 19,900,000 | 11,200,000 | ' | 600,000 | ' | ' | ' | ' | ' | ' |
Number of shares repurchased, average price per share | $41.12 | $20.60 | $21.38 | ' | $37.17 | ' | ' | ' | ' | ' | ' |
Payments For Repurchase Of Common Stock, Settled in Current Year | 258,300,000 | 409,400,000 | 240,200,000 | 22,000,000 | ' | ' | ' | ' | ' | ' | ' |
Payments for Repurchase of Common Stock | 258,300,000 | 409,400,000 | 262,100,000 | ' | 20,600,000 | ' | ' | ' | ' | ' | ' |
Share repurchase program, remaining authorized amount | $436,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Dividends, Cash Paid (per share) | ' | ' | ' | ' | ' | ' | $1.10 | $0.80 | ' | $1.32 | ' |
Cash Dividend, Date Declared | ' | ' | ' | ' | ' | ' | ' | ' | 4-Mar-14 | ' | ' |
Cash dividend | $1.10 | $0.80 | ' | ' | ' | ' | ' | ' | $0.33 | ' | ' |
Cash dividend, payment date | ' | ' | ' | ' | ' | ' | ' | ' | 25-Mar-14 | ' | ' |
Cash dividend, date of record | ' | ' | ' | ' | ' | ' | ' | ' | 17-Mar-14 | ' | ' |
Unaudited_Quarterly_Financial_2
Unaudited Quarterly Financial Information - Consolidated Statement of Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Feb. 01, 2014 | Nov. 02, 2013 | Aug. 03, 2013 | Apr. 27, 2013 | Feb. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Apr. 28, 2012 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | ||||||||
Disclosure Unaudited Quarterly Consolidated Statement Of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | $3,683.80 | $2,106.70 | $1,383.70 | $1,865.30 | $3,561.50 | $1,772.80 | $1,550.20 | $2,002.20 | $9,039.50 | $8,886.70 | $9,550.50 | ||||||||
Gross Profit | 1,003.20 | 598.3 | 481.3 | 578.3 | 974.9 | 557.4 | 519.3 | 599.9 | 2,661.10 | 2,651.50 | 2,679.50 | ||||||||
Operating earnings (loss) | 358.4 | [1] | 109.1 | 18.8 | 87.2 | 412.3 | -603.5 | [2] | 34.5 | 115 | 573.5 | -41.6 | 569.9 | ||||||
Consolidated net income (loss) attributable to GameStop Corp. | 220.5 | [1] | 68.6 | 10.5 | 54.6 | 261.1 | -624.3 | [2] | 21 | 72.5 | 354.2 | -269.7 | 339.9 | ||||||
Basic net income (loss) per common share attributable to GameStop Corp. | $1.91 | [1],[3] | $0.59 | [3] | $0.09 | [3] | $0.46 | [3] | $2.17 | [3] | ($5.08) | [2],[3] | $0.16 | [3] | $0.54 | [3] | $3.02 | ($2.13) | $2.43 |
Diluted net income (loss) per common share attributable to GameStop Corp. | $1.89 | [1],[3] | $0.58 | [3] | $0.09 | [3] | $0.46 | [3] | $2.15 | [3] | ($5.08) | [2],[3] | $0.16 | [3] | $0.54 | [3] | $2.99 | ($2.13) | $2.41 |
Dividend declared per common share | $0.28 | $0.28 | $0.28 | $0.28 | $0.25 | $0.25 | $0.15 | $0.15 | $0.28 | $0.25 | ' | ||||||||
Goodwill impairments | 10.2 | ' | ' | ' | ' | 627 | ' | ' | 10.2 | 627 | 0 | ||||||||
Asset Impairment Charges | 18.5 | ' | ' | ' | ' | 51.8 | ' | ' | 28.7 | 680.7 | ' | ||||||||
Gain on change in Estimated Liability | $33.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | The results of operations for the fourth quarter of the fiscal year ended February 1, 2014 include goodwill impairments of $10.2 million and asset impairments of $18.5 million. Additionally, results include a $33.6 million benefit associated with changes in accounting estimates primarily related to our loyalty programs and other customer liabilities. | ||||||||||||||||||
[2] | The results of operations for the third quarter of the fiscal year ended February 2, 2013 include goodwill impairments of $627.0 million and asset impairments of $51.8 million. | ||||||||||||||||||
[3] | Basic net income (loss) per common share and diluted net income (loss) per common share are calculated based on net income (loss) attributable to GameStop Corp. for the quarter. The sum of the quarters may not necessarily be equal to the full year net income (loss) per common share amount. |