Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Feb. 02, 2014 | Apr. 25, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-K | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 2-Feb-14 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Entity Registrant Name | 'DAVE & BUSTERS INC | ' |
Entity Central Index Key | '0000943823 | ' |
Current Fiscal Year End Date | '--02-02 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 100 |
Entity Public Float | $0 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Feb. 02, 2014 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $38,080 | $36,117 |
Inventories (Note 3) | 15,354 | 14,849 |
Prepaid expenses | 9,620 | 9,371 |
Deferred income taxes (Note 8) | 15,985 | 18,209 |
Income taxes receivable | 2,444 | 1,120 |
Other current assets | 8,993 | 12,152 |
Total current assets | 90,476 | 91,818 |
Property and equipment (net of $195,339 and $139,457 accumulated depreciation as of February 2, 2014 and February 3, 2013, respectively) (Note 4) | 388,093 | 337,239 |
Tradenames (Note 5) | 79,000 | 79,000 |
Goodwill (Note 5) | 272,428 | 272,278 |
Other assets and deferred charges | 21,389 | 24,218 |
Total assets | 851,386 | 804,553 |
Current liabilities: | ' | ' |
Current installments of long-term debt (Note 7) | 1,500 | 1,500 |
Accounts payable | 36,092 | 23,878 |
Accrued liabilities (Note 6) | 74,379 | 67,124 |
Income taxes payable | 1,073 | 192 |
Deferred income taxes (Note 8) | ' | 189 |
Total current liabilities | 113,044 | 92,883 |
Deferred income taxes (Note 8) | 24,415 | 24,887 |
Deferred occupancy costs | 81,743 | 69,544 |
Other liabilities | 15,599 | 12,684 |
Long-term debt, less current installments, net of unamortized discount (Note 7) | 342,325 | 343,579 |
Commitments and contingencies (Note 12) | ' | ' |
Stockholder's equity: | ' | ' |
Common stock, $0.01 par value, 1,000 authorized; 100 issued and outstanding as of February 2, 2014 and February 3, 2013 | ' | ' |
Preferred stock, 10,000,000 authorized; none issued | ' | ' |
Paid-in capital | 248,136 | 246,929 |
Accumulated other comprehensive income (loss) | -167 | 252 |
Retained earnings | 26,291 | 13,795 |
Total stockholder's equity | 274,260 | 260,976 |
Total liabilities and stockholder's equity | $851,386 | $804,553 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Feb. 02, 2014 | Feb. 03, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Property and equipment, accumulated depreciation | $195,339 | $139,457 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Food and beverage revenues | $310,111 | $298,421 | $272,606 |
Amusement and other revenues | 325,468 | 309,646 | 268,939 |
Total revenues | 635,579 | 608,067 | 541,545 |
Cost of food and beverage | 77,577 | 73,019 | 65,751 |
Cost of amusement and other | 47,437 | 46,098 | 41,417 |
Total cost of products | 125,014 | 119,117 | 107,168 |
Operating payroll and benefits | 150,172 | 145,571 | 130,875 |
Other store operating expenses | 199,537 | 192,792 | 175,993 |
General and administrative expenses | 36,440 | 40,356 | 34,896 |
Depreciation and amortization expense | 66,337 | 63,457 | 54,277 |
Pre-opening costs | 7,040 | 3,060 | 4,186 |
Total operating costs | 584,540 | 564,353 | 507,395 |
Operating income (loss) | 51,039 | 43,714 | 34,150 |
Interest expense, net (Note 7) | 31,311 | 33,075 | 32,516 |
Income before provision (benefit) for income taxes | 19,728 | 10,639 | 1,634 |
Provision (benefit) for income taxes (Note 8) | 7,232 | -7,358 | 679 |
Net income | 12,496 | 17,997 | 955 |
Unrealized foreign currency translation gain (loss) | -419 | 15 | 42 |
Total comprehensive income | $12,077 | $18,012 | $997 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid In Capital | Accumulated Other Comprehensive Income (loss) | Retained Earnings (Accumulated Deficit) |
In Thousands, except Share data | USD ($) | USD ($) | USD ($) | USD ($) | |
Beginning Balance at Jan. 30, 2011 | $239,830 | ' | $244,792 | $195 | ($5,157) |
Beginning Balance (in shares) at Jan. 30, 2011 | ' | 100 | ' | ' | ' |
Net income | 955 | ' | ' | ' | 955 |
Unrealized foreign currency translation gain (loss) | 42 | ' | ' | 42 | ' |
Stock-based compensation | 1,038 | ' | 1,038 | ' | ' |
Ending Balance at Jan. 29, 2012 | 241,865 | ' | 245,830 | 237 | -4,202 |
Ending Balance (in shares) at Jan. 29, 2012 | ' | 100 | ' | ' | ' |
Net income | 17,997 | ' | ' | ' | 17,997 |
Unrealized foreign currency translation gain (loss) | 15 | ' | ' | 15 | ' |
Stock-based compensation | 1,099 | ' | 1,099 | ' | ' |
Ending Balance at Feb. 03, 2013 | 260,976 | ' | 246,929 | 252 | 13,795 |
Ending Balance (in shares) at Feb. 03, 2013 | 100 | 100 | ' | ' | ' |
Net income | 12,496 | ' | ' | ' | 12,496 |
Unrealized foreign currency translation gain (loss) | -419 | ' | ' | -419 | ' |
Stock-based compensation | 1,207 | ' | 1,207 | ' | ' |
Ending Balance at Feb. 02, 2014 | $274,260 | ' | $248,136 | ($167) | $26,291 |
Ending Balance (in shares) at Feb. 02, 2014 | 100 | 100 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $12,496 | $17,997 | $955 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization expense | 66,337 | 63,457 | 54,277 |
Debt cost and discount amortization (Note 7) | 2,572 | 2,528 | 2,329 |
Deferred income tax expense (benefit) (Note 8) | 1,849 | -10,895 | 271 |
Loss on sale of fixed assets | 2,631 | 2,638 | 1,279 |
Stock-based compensation charges | 1,207 | 1,099 | 1,038 |
Business interruption reimbursement (Note 2) | ' | ' | -1,629 |
Other, net | 675 | 17 | 1,189 |
Changes in assets and liabilities: | ' | ' | ' |
Inventories | -505 | -9 | -609 |
Prepaid expenses | -107 | 471 | 14 |
Income tax receivable | -1,324 | -1,120 | 5,861 |
Other current assets | 3,015 | -8,461 | -1,561 |
Other assets and deferred charges | -364 | 924 | -401 |
Accounts payable | -1,774 | -96 | 5,280 |
Accrued liabilities | 6,782 | 4,100 | 2,563 |
Income taxes payable | 291 | -711 | -578 |
Deferred occupancy costs | 12,214 | 6,691 | 4,089 |
Other liabilities | 3,963 | 4,166 | -1,120 |
Net cash provided by operating activities | 109,958 | 82,796 | 73,247 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -105,894 | -78,689 | -72,946 |
Repurchase of parent shares from former executive | ' | ' | -1,000 |
Insurance proceeds on Nashville property (Note 2) | ' | ' | 798 |
Proceeds from sales of property and equipment | 217 | 201 | 1,646 |
Net cash used in investing activities | -105,677 | -78,488 | -71,502 |
Cash flows from financing activities: | ' | ' | ' |
Repayments of senior secured credit facility | -1,500 | -1,875 | -1,500 |
Debt issuance costs | -818 | ' | -968 |
Net cash used in financing activities | -2,318 | -1,875 | -2,468 |
Increase (decrease) in cash and cash equivalents | 1,963 | 2,433 | -723 |
Beginning cash and cash equivalents | 36,117 | 33,684 | 34,407 |
Ending cash and cash equivalents | 38,080 | 36,117 | 33,684 |
Supplemental disclosures of cash flow information: | ' | ' | ' |
Cash paid (refunds received) for income taxes, net | 2,151 | 2,515 | -5,380 |
Cash paid for interest and related debt fees, net of amounts capitalized | $29,096 | $32,435 | $30,723 |
Description_of_Business_and_Su
Description of Business and Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||||||||||
Description of Business and Summary of Significant Accounting Policies | ' | ||||||||||||||||||||||||
Note 1: Description of Business and Summary of Significant Accounting Policies | |||||||||||||||||||||||||
Description of Business — Dave & Buster’s, Inc., a Missouri corporation, owns, operates and licenses high-volume venues that combine dining and entertainment in North America for both adults and families. Our venues operate under the names “Dave & Buster’s” and “Dave & Buster’s Grand Sports Café.” As of February 2, 2014, there were 66 company-owned locations in the United States and Canada. Subsequent to February 2, 2014, we opened new stores in Westchester, California and Vernon Hills, Illinois. On May 31, 2013, our lone franchise store ceased operation as Dave & Buster’s. This change and the associated termination of the related franchise and development agreements did not have a material impact on our financial position or results of operations. Dave & Buster’s, Inc. operates its business as one operating and one reportable segment. We operate on a 52 or 53 week fiscal year that ends on the Sunday after the Saturday closest to January 31. Each quarterly period has 13 weeks, except for a 53 week year when the fourth quarter has 14 weeks. Our fiscal year ended February 3, 2013 consisted of 53 weeks. All other fiscal years presented herein consist of 52 weeks. | |||||||||||||||||||||||||
Dave & Buster’s, Inc. is a wholly owned subsidiary of Dave & Buster’s Holdings, Inc. (“D&B Holdings”), a Delaware corporation. D&B Holdings is a wholly owned subsidiary of Dave & Buster’s Entertainment, Inc. (“D&B Entertainment”), a Delaware corporation owned by Oak Hill Capital Partners III, L.P., Oak Hill Capital Management Partners III, L.P. (collectively the “Oak Hill Funds”) and certain members of the Board of Directors and management of Dave & Buster’s, Inc. | |||||||||||||||||||||||||
D&B Entertainment owns no other significant assets or operations other than the ownership of all the common stock of D&B Holdings. D&B Holdings owns no other significant assets or operations other than the ownership of all the common stock of Dave & Buster’s, Inc. References to “Dave & Buster’s,” the “Company,” “we,” “us,” and “our” are references to Dave & Buster’s, Inc. and its subsidiaries. | |||||||||||||||||||||||||
Basis of Presentation — The accompanying audited financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States as prescribed by the Securities and Exchange Commission. | |||||||||||||||||||||||||
The financial statements include our accounts after elimination of all significant intercompany balances and transactions. See discussion of advances/payables to D&B Entertainment under the “Related Party” section. All dollar amounts are presented in thousands, unless otherwise noted, except share amounts. | |||||||||||||||||||||||||
Seasonality — Our revenues and operations are influenced by seasonal shifts in consumer spending. Revenues associated with spring and year-end holidays during our first and fourth quarters have historically been higher as compared to the other quarters and will continue to be susceptible to the impact of severe spring and winter weather on customer traffic and sales during those periods. Our third quarter, which encompasses the end of the summer vacation season, has historically had lower revenues as compared to the other quarters. | |||||||||||||||||||||||||
Use of estimates —The preparation of financial statements in conformity with GAAP requires us to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. | |||||||||||||||||||||||||
Cash and cash equivalents —We consider transaction settlements in process from credit card companies and all highly liquid temporary investments with original maturities of three months or less to be cash equivalents. | |||||||||||||||||||||||||
Concentration of Credit Risk — Financial instruments which potentially subject us to a concentration of credit risk are cash and cash equivalents. We currently maintain our day-to-day operating cash balances with major financial institutions. At times, our operating cash balances may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limit. From time to time, we invest temporary excess cash in overnight investments with expected minimal volatility, such as money market funds. Although we maintain balances that exceed the FDIC insured limit, we have not experienced any losses related to this balance, and we believe credit risk to be minimal. | |||||||||||||||||||||||||
Inventories —Inventories of food, beverages, merchandise and other supplies needed for our food service and amusement operations are stated at the lower of cost or market determined on a first-in, first-out method. | |||||||||||||||||||||||||
Deferred tax assets — A deferred income tax asset or liability is established for the expected future consequences resulting from temporary differences in the financial reporting and tax basis of assets and liabilities. As of February 2, 2014, we had recorded $1,388 as a valuation allowance against a portion of our deferred tax assets. The valuation allowance was established in accordance with accounting guidance for income taxes. If we generate taxable income in future periods or if the facts and circumstances on which our estimates and assumptions are based were to change, thereby impacting the likelihood of realizing the deferred tax assets, judgment would have to be applied in determining the amount of valuation allowance no longer required or if an addition to the allowance would be required. | |||||||||||||||||||||||||
Property and equipment —Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is charged to operations using the straight-line method over the assets’ estimated useful lives, which are as follows: | |||||||||||||||||||||||||
Estimated Depreciable | |||||||||||||||||||||||||
Lives (In Years) | |||||||||||||||||||||||||
Buildings and building improvements | Shorter of 40 or expected | ||||||||||||||||||||||||
ground lease term | |||||||||||||||||||||||||
Leasehold improvements | Shorter of 20 Or | ||||||||||||||||||||||||
expected lease term | |||||||||||||||||||||||||
Furniture, fixtures and equipment | 10-Mar | ||||||||||||||||||||||||
Games | 20-May | ||||||||||||||||||||||||
Expenditures that substantially increase the useful lives of the property and equipment are capitalized, whereas costs incurred to maintain the appearance and functionality of such assets are charged to repair and maintenance expense. Interest costs incurred during construction are capitalized and depreciated based on the estimated useful life of the underlying asset. | |||||||||||||||||||||||||
We review our property and equipment annually, on a store-by-store basis to determine whether facts or circumstances exist that may indicate the carrying values of these long-lived assets are impaired. We compare store-level undiscounted operating cash flows (which excludes interest, general and administrative and other allocated expenses) to the carrying amount of property and equipment allocated to each store. If the expected future cash flows are less than the asset carrying amount (an indication that the carrying amount may not be recoverable), we may recognize an impairment loss. Any impairment loss recognized equals the amount by which the asset carrying amount exceeds its fair value. We recognized an impairment loss of $200 during fiscal 2011 related to one of our stores in Dallas, Texas, which we permanently closed on May 2, 2011. No impairment charges were recognized in fiscal years 2013 or 2012. | |||||||||||||||||||||||||
Goodwill and other intangible assets —In accordance with accounting guidance for goodwill and other intangible assets, goodwill and indefinite lived intangibles, such as tradenames, are not amortized, but are reviewed for impairment at least annually. We perform step one of the impairment test in our fourth quarter unless circumstances require this analysis to be completed sooner. Step one of the impairment test is based upon a comparison of the carrying value of our net assets, including goodwill balances, to the fair value of our net assets. Fair value is measured using a combination of the guideline company method, external transaction method, and the income approach. The guideline company method uses valuation multiples from selected publicly-traded companies that we believe are exposed to market forces that are similar to those faced by the Company. The external transaction method involves analyzing previous mergers or acquisitions involving private or public companies that are similar to the Company. The income approach consists of utilizing the discounted cash flow method that incorporates our estimates of future revenues and costs, discounted using a risk-adjusted discount rate. Key assumptions used in our testing include future store openings, revenue growth, operating expenses and discount rate. Estimates of revenue growth and operating expenses are based on internal projections considering our past performance and forecasted growth, market economics and the business environment impacting our Company’s performance. Discount rates are determined by using a weighted average cost of capital (“WACC”). The WACC considers market and industry data as well as company-specific risk factors. These estimates are highly subjective judgments and can be significantly impacted by changes in the business or economic conditions. Our estimates used in the income approach are consistent with the plans and estimates used to manage operations. We evaluate all methods to ensure reasonably consistent results. Based on the completion of the step one test, we determined that goodwill was not impaired. | |||||||||||||||||||||||||
The evaluation of the carrying amount of other intangible assets with indefinite lives is made at least annually by comparing the carrying amount of these assets to their estimated fair value. The estimated fair value is generally determined on the basis of discounted future cash flows. If the estimated fair value is less than the carrying amount of the other intangible assets with indefinite lives, then an impairment charge is recorded to reduce the asset to its estimated fair value. | |||||||||||||||||||||||||
Based on our analysis, we determined that our intangible assets with an indefinite life, our tradename, was not impaired. | |||||||||||||||||||||||||
We have developed and acquired certain trademarks that are utilized in our business and have been determined to have finite lives. We also have intangible assets related to our non-compete agreements and customer relationships. These intangible assets are included in “Other assets and deferred charges” on the Consolidated Balance Sheet and are amortized over their useful lives. | |||||||||||||||||||||||||
Deferred financing costs —The Company capitalizes costs incurred in connection with borrowings or establishment of credit facilities. These costs are included in “Other assets and deferred charges”, and are amortized as an adjustment to interest expense over the life of the borrowing or life of the credit facility. In the case of early debt principal repayments, the Company adjusts the value of the corresponding deferred financing costs with a charge to interest expense, and similarly adjusts the future amortization expense. The following table details amounts relating to those assets: | |||||||||||||||||||||||||
Fiscal Year ended | Fiscal Year ended | Fiscal Year ended | |||||||||||||||||||||||
February 2, 2014 | February 3, 2013 | January 29, 2012 | |||||||||||||||||||||||
Balance at beginning of period | $ | 7,959 | $ | 10,200 | $ | 11,312 | |||||||||||||||||||
Additional deferred financing costs | 726 | — | 968 | ||||||||||||||||||||||
Amortization during period | (2,234 | ) | (2,241 | ) | (2,080 | ) | |||||||||||||||||||
Balance at end of period | $ | 6,451 | $ | 7,959 | $ | 10,200 | |||||||||||||||||||
Self-Insurance Accruals—We are self-insured for certain losses related to workers’ compensation claims, general liability matters and our company sponsored employee health insurance programs. We estimate the accrued liabilities for our self-insurance programs using historical claims experience and loss reserves, assisted by independent third-party actuaries. To limit our exposure to losses, we maintain stop-loss coverage through third-party insurers. | |||||||||||||||||||||||||
Comprehensive income (loss) —Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. In addition to net income, unrealized foreign currency translation gain (loss) is included in comprehensive income (loss). Unrealized translation loss for fiscal 2013 was $419. Unrealized translation gains for fiscal 2012 and fiscal 2011 were $15, and $42, respectively. | |||||||||||||||||||||||||
Foreign currency translation—The financial statements related to the operations of our Toronto store are prepared in Canadian dollars. Income statement amounts are translated at average exchange rates for each period, while the assets and liabilities are translated at year-end exchange rates. Translation adjustments for assets and liabilities are included in stockholder’s equity as a component of comprehensive income (loss). | |||||||||||||||||||||||||
Fair Value Disclosures— Fair value is defined as the price that we would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three-level hierarchy used in measuring fair value, as follows: | |||||||||||||||||||||||||
• | Level 1 inputs are quoted prices available for identical assets and liabilities in active markets. | ||||||||||||||||||||||||
• | Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data. | ||||||||||||||||||||||||
• | Level 3 inputs are less observable and reflect our own assumptions. | ||||||||||||||||||||||||
Our financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, our senior secured credit facility, and our senior notes. The carrying amount of cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of their short maturities. We believe that the carrying amount of our term credit facility approximates its fair value because the interest rates are adjusted regularly based on current market conditions. The fair value disclosures for our senior notes are presented in Note 7. | |||||||||||||||||||||||||
We may adjust the carrying amount of certain nonfinancial assets to fair value on a non-recurring basis when they are impaired. No such adjustments were made in fiscal year 2013 or 2012. | |||||||||||||||||||||||||
Share-based expense— The expense associated with share-based equity awards granted as more fully described in Note 10 have been calculated as required by current accounting standards related to stock compensation. The grant date fair values of the options granted in 2013, 2012 and 2011 have been determined based on the option pricing method prescribed in AICPA Practice Aid, Valuation of privately-Held-Company Equity Securities Issued as Compensation. The expected term of the options were based on the weighted average of anticipated exercise dates. Since we do not have publicly traded equity securities, the volatility of our options has been estimated using peer group volatility information. The risk-free interest rate was based on the implied yield on U.S. Treasury zero-coupon issues with a remaining term equivalent to the expected term. The significant assumptions used in determining the underlying fair value of the weighted-average options granted in fiscal 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||
Fiscal 2013 | Fiscal 2012 | Fiscal 2011 | |||||||||||||||||||||||
Service | Performance | Service | Performance | Service | Performance | ||||||||||||||||||||
Based | Based | Based | Based | Based | Based | ||||||||||||||||||||
Volatility | 48.2 | % | 47 | % | 44.7 | % | 50 | % | 55 | % | 55 | % | |||||||||||||
Risk free interest rate | 1.15 | % | 1.06 | % | 0.78 | % | 0.33 | % | 1.46 | % | 1.47 | % | |||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||
Expected term – in years | 6.5 | 6.5 | 4.9 | 3 | 4 | 4 | |||||||||||||||||||
Weighted average calculated value | $ | 1,060.88 | $937.00 | $545.76 | $506.15 | $220.59 | $117.98 | ||||||||||||||||||
The options granted in fiscal years 2013, 2012 and 2011 have been issued pursuant to the terms of the Dave & Buster’s Entertainment, Inc. 2010 Management Incentive Plan (“2010 D&B Entertainment Incentive Plan”). The 2010 D&B Entertainment Incentive Plan allows the granting of nonqualified stock options to members of management, outside board members and consultants. Grantees may receive (i) time vesting options, which vest ratably on the first through fifth anniversary of the date of grant and/or (ii) performance vesting options which include Adjusted EBITDA vesting options that vest over a prescribed time period based on D&B Entertainment meeting certain profitability targets for each fiscal year and IRR vesting options which vest upon a change in control of D&B Entertainment if the Oak Hill Fund’s internal rate of return is greater than or equal to certain percentages set forth in the applicable option agreement, in each case subject to the grantee’s continued employment with or service to D&B Entertainment or its subsidiaries (subject to certain conditions in the event of grantee termination). | |||||||||||||||||||||||||
Revenue recognition —Food and beverage revenues are recorded at point of service. Amusement revenues consist primarily of game play credits on Power Cards purchased and used by customers to activate most of the video and redemption games in our midway. Amusement revenues are primarily recognized upon utilization of these game play credits. We have recognized a liability for the estimated amount of unused game play credits which we believe our guests will utilize in the future based on credits remaining on Power Cards, historic utilization patterns and revenue per game play credit sold. | |||||||||||||||||||||||||
Amusements costs of products —Certain midway games allow guests to earn coupons, which may be redeemed for prizes. The cost of these prizes is included in the cost of amusement products and is generally recorded when coupons are utilized by the customer by redeeming the coupons for a prize in our “Winner’s Circle.” Customers may also store the coupon value on a Power Card for future redemption. We have accrued a liability for the estimated amount of outstanding coupons that we believe will be redeemed in subsequent periods based on coupons outstanding, historic redemption patterns and the estimated redemption cost of products per coupon. | |||||||||||||||||||||||||
Advertising costs —Advertising costs are recorded as an expense in the period in which we incur the costs or the first time the advertising takes place. Advertising costs expensed were $27,475, $28,502 and $26,612 fiscal year 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||
Lease accounting —Rent expense is recorded on a straight-line basis over the lease term. The lease term commences on the date when we take possession and have the right to control the use of the leased premises. The lease term includes the initial non-cancelable lease term plus any periods covered by renewal options that we consider reasonably assured of exercising. The difference between rent payments and rent expense in any period is recorded as “Deferred occupancy costs” in the Consolidated Balance Sheets. Construction allowances we receive from the lessor to reimburse us for the cost of leasehold improvements are recorded as “Deferred occupancy costs” and amortized as a reduction of rent over the term of the lease. | |||||||||||||||||||||||||
We had construction allowance receivables of $5,677 and $8,893 as of February 2, 2014 and February 3, 2013, respectively, related to our new store openings. Such balances are included in “Other current assets” in the Company’s Consolidated Balance Sheet. All receivable amounts are expected to be collected. | |||||||||||||||||||||||||
Related party transaction —We have an expense reimbursement agreement with Oak Hill Capital Management, LLC. Pursuant to this agreement, Oak Hill Capital Management, LLC provides general advice to us in connection with our long-term strategic plans, financial management, strategic transactions and other business matters. The expense reimbursement agreement provides for the reimbursement of certain expenses of Oak Hill Capital Management, LLC. The initial term of the expense reimbursement agreement expires in June 2015 and after that date such agreement will renew automatically on a year-to-year basis unless one party gives at least 30 days’ prior notice of its intention not to renew. We incurred expenses of $722 during fiscal 2013, $799 during fiscal 2012, and $860 during fiscal 2011 under the terms of the expense reimbursement agreement. | |||||||||||||||||||||||||
We expensed charges related to the expense reimbursement agreement described above, during fiscal 2013, 2012 and 2011 of approximately $201, $361 and $522, respectively, related to the acquisition of Dave & Buster’s directed by the Oak Hill Funds. | |||||||||||||||||||||||||
We made payments of $235, $235 and $0 in fiscal 2013, 2012 and 2011, respectively, to two board members who serve as advisors to the Oak Hill Funds. | |||||||||||||||||||||||||
From time to time we temporarily advance funds to D&B Entertainment for payment of expenditures for its corporate purposes. Additionally, we owe D&B entertainment for certain tax-related matters. We had a net payable of $6,907 and $3,349 as of February 2, 2014 and February 3, 2013, respectively. The fiscal 2013 payable balance includes $6,411 related to income taxes which is included in “Other liabilities” in the Company’s Consolidated Balance Sheet. In fiscal 2012, we recognized approximately $2,940 of cost related to the withdrawn initial public offering of D&B Entertainment common stock. The expenses related to this transaction were pushed down to the Company as the funds from the offering were to have been substantially used to reduce the Company’s senior notes. | |||||||||||||||||||||||||
Pre-opening costs —Pre-opening costs include costs associated with the opening and organizing of new stores, including the cost of feasibility studies, pre-opening rent, training and recruiting and travel costs for employees engaged in such pre-opening activities. All pre-opening costs are expensed as incurred. | |||||||||||||||||||||||||
Income taxes — We are a member of a consolidated group that includes D&B Entertainment and we file consolidated returns with all our domestic subsidiaries. We use the asset/liability method for recording income taxes, which recognizes the amount of current and deferred taxes payable or refundable at the date of the financial statements as a result of all events that are recognized in the financial statements and as measured by the provisions of enacted tax laws. We also recognize liabilities for uncertain income tax positions for those items that meet the “more likely than not” threshold. | |||||||||||||||||||||||||
The calculation of tax liabilities involves significant judgment and evaluation of uncertainties in the interpretation of federal and state tax regulations. As a result, we have established accruals for taxes that may become payable in future years as a result of audits by tax authorities. Tax accruals are reviewed regularly pursuant to accounting guidance for uncertainty in income taxes. Tax accruals are adjusted as events occur that affect the potential liability for taxes such as the expiration of statutes of limitations, conclusion of tax audits, identification of additional exposure based on current calculations, identification of new issues, or the issuance of statutory or administrative guidance or rendering of a court decision affecting a particular issue. Accordingly, we may experience significant changes in tax accruals in the future, if or when such events occur. | |||||||||||||||||||||||||
As of February 2, 2014, we have accrued approximately $767 of unrecognized tax benefits, including approximately $291 of penalties and interest. During fiscal 2013, we recognized approximately $5 of tax benefits and an additional $1 of benefits related to penalties and interest based upon lapsing of time and settlement with taxing jurisdictions. Future recognition of potential interest or penalties, if any, will be recorded as a component of income tax expense. Because of the impact of deferred income tax accounting, $349 of unrecognized tax benefits, if recognized, would impact the effective tax rate. | |||||||||||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||||||||||
Accounting Guidance Adopted— In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU’) No. 2012-02, “Intangibles-Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment”. The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment. It allows companies to perform a “qualitative” assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. This amendment is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. We review our intangible assets for impairment in our fourth quarter unless circumstances require this analysis to be completed sooner. The adoption of ASU No. 2012-02 did not have an impact on the Company’s financial position, results of operations or cash flows. | |||||||||||||||||||||||||
In February 2013, the FASB issued ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. This guidance requires the disclosure of significant amounts reclassified from each component of accumulated other comprehensive income and the income statement line items affected by the reclassification. ASU No. 2013-02 is effective for the Company prospectively for reporting periods beginning after December 15, 2012. The adoption of ASU No. 2013-02 did not have an impact on the Company’s financial position, results of operations or cash flows. | |||||||||||||||||||||||||
Accounting Guidance Not Yet Adopted— In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” This amendment requires an unrecognized tax benefit related to a net operating loss carryforward, a similar tax loss or a tax credit carryforward to be presented as a reduction to a deferred tax asset, unless the tax benefit is not available at the reporting date to settle any additional income taxes under the tax law of the applicable tax jurisdiction. The amendment is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. We do not expect the provisions of ASU No. 2013-11 to have a material effect on the Company’s financial position, results of operations or cash flows. |
Casualty_loss
Casualty loss | 12 Months Ended |
Feb. 02, 2014 | |
Casualty loss | ' |
Note 2: Casualty loss | |
On May 2, 2010, flooding occurred in Nashville, Tennessee, causing considerable damage to our Nashville store and the retail mall where our store is located. The store is covered by up to $25,000 in property and business interruption insurance subject to an overall deductible of one thousand dollars. | |
During fiscal 2011, we recorded $3,215 as a reduction to “Other store operating expenses” in the Consolidated Statement of Operations related to the recovery of business interruption losses from our insurance carrier, of which $1,629 was received in fiscal 2010. Additionally, during fiscal 2011, we have received $2,414 from our insurance carrier which settled in full the casualty related receivables we recorded in 2010. $798 of the funds received relates to property and equipment, $156 relates to inventories, $778 relates to pre-opening costs, and $682 relates to remediation expenses and other costs incurred as a result of the flood. The build-out of our leased facility was completed prior to January 29, 2012, and our landlord delivered to us assets with a fair value of $2,443, which resulted in a gain that we recorded in “Other store operating expenses” of $955. As of January 29, 2012, all casualty related receivables have been collected and we expect no further collections related to this casualty loss. The store reopened on November 28, 2011. |
Inventories
Inventories | 12 Months Ended | ||||||||
Feb. 02, 2014 | |||||||||
Inventories | ' | ||||||||
Note 3: Inventories | |||||||||
Inventories consist of the following: | |||||||||
February 2, | February 3, | ||||||||
2014 | 2013 | ||||||||
Operating store—food and beverage | $ | 3,961 | $ | 3,581 | |||||
Operating store—amusement | 6,214 | 6,125 | |||||||
Corporate supplies, warehouse and other | 5,179 | 5,143 | |||||||
$ | 15,354 | $ | 14,849 | ||||||
Amusement inventory includes electronic equipment, stuffed animals and small novelty items used as redemption prizes for certain midway games, as well as supplies needed for midway operations. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Feb. 02, 2014 | |||||||||
Property and Equipment | ' | ||||||||
Note 4: Property and Equipment | |||||||||
Property and equipment consist of the following: | |||||||||
February 2, | February 3, | ||||||||
2014 | 2013 | ||||||||
Buildings and building improvements | $ | 14,176 | $ | 13,919 | |||||
Leasehold improvements | 330,641 | 288,555 | |||||||
Furniture, fixtures and equipment | 117,194 | 93,693 | |||||||
Games | 88,310 | 73,094 | |||||||
Construction in progress | 33,111 | 7,435 | |||||||
Total cost | 583,432 | 476,696 | |||||||
Accumulated depreciation | (195,339 | ) | (139,457 | ) | |||||
Property and equipment, net | $ | 388,093 | $ | 337,239 | |||||
Interest costs capitalized during the construction of facilities were $602 for fiscal 2013, $510 for fiscal 2012, and $759 for fiscal 2011. | |||||||||
Property and equipment are depreciated using the straight-line method over the estimated useful life of the assets. Depreciation expense totaled $64,933 for fiscal 2013, $61,957 for fiscal 2012, and $52,623 for fiscal 2011. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||||||
Note 5: Goodwill and Other Intangible Assets | |||||||||||||||||||
Changes in the carrying amount of goodwill for the year ended February 2, 2014 and February 3, 2013 are as follows: | |||||||||||||||||||
Gross Amount | |||||||||||||||||||
Goodwill Balance at January 29, 2012 | $ | 272,286 | |||||||||||||||||
Foreign exchange differences | (8 | ) | |||||||||||||||||
Goodwill Balance at February 3, 2013 | 272,278 | ||||||||||||||||||
Foreign exchange differences | 150 | ||||||||||||||||||
Goodwill Balance at February 2, 2014 | $ | 272,428 | |||||||||||||||||
The following table presents our goodwill and intangible assets at February 2, 2014 and February 3, 2013: | |||||||||||||||||||
February 2, 2014 | February 3, 2013 | ||||||||||||||||||
Gross Carrying | Accumulated | Gross Carrying | Accumulated | ||||||||||||||||
Useful Lives | Amount | Amortization | Amount | Amortization | |||||||||||||||
Not subject to amortization: | |||||||||||||||||||
Goodwill | $ | 272,428 | $ | — | $ | 272,278 | $ | — | |||||||||||
Tradenames | 79,000 | — | 79,000 | — | |||||||||||||||
Total not subject to amortization | 351,428 | — | 351,278 | — | |||||||||||||||
Subject to amortization: | |||||||||||||||||||
Trademarks | 7 years | 8,500 | (4,471 | ) | 8,500 | (3,255 | ) | ||||||||||||
Customer relationships | 9 years | 1,700 | (694 | ) | 1,700 | (506 | ) | ||||||||||||
Non-compete agreements | 2 years | 500 | (500 | ) | 500 | (500 | ) | ||||||||||||
Total subject to amortization | 10,700 | (5,665 | ) | 10,700 | (4,261 | ) | |||||||||||||
Total goodwill and intangibles | $ | 362,128 | $ | (5,665 | ) | $ | 361,978 | $ | (4,261 | ) | |||||||||
The remaining weighted-average amortization period for intangibles subject to amortization is 3.7 years. Amortization expense was $1,404, $1,500, and $1,654 for the fiscal year 2013, the fiscal year 2012, and the fiscal year 2011, respectively. Estimated amortization expense relating to intangible assets subject to amortization for each of the five succeeding years and beyond is as follows: | |||||||||||||||||||
Amortization | |||||||||||||||||||
Expense | |||||||||||||||||||
2014 | $ | 1,399 | |||||||||||||||||
2015 | 1,399 | ||||||||||||||||||
2016 | 1,399 | ||||||||||||||||||
2017 | 588 | ||||||||||||||||||
2018 | 188 | ||||||||||||||||||
Thereafter | 62 | ||||||||||||||||||
Total future amortization expense | $ | 5,035 | |||||||||||||||||
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | ||||||||
Feb. 02, 2014 | |||||||||
Accrued Liabilities | ' | ||||||||
Note 6: Accrued Liabilities | |||||||||
Accrued liabilities consist of the following: | |||||||||
February 2, 2014 | February 3, 2013 | ||||||||
Compensation and benefits | $ | 14,459 | $ | 15,205 | |||||
Deferred amusement revenue | 14,047 | 11,675 | |||||||
Amusement redemption liability | 9,707 | 7,144 | |||||||
Rent | 9,040 | 8,902 | |||||||
Deferred gift card revenue | 4,709 | 4,028 | |||||||
Sales and use taxes | 4,408 | 4,282 | |||||||
Interest | 4,214 | 4,242 | |||||||
Current portion of long-term insurance reserves | 3,358 | 3,000 | |||||||
Property taxes | 3,159 | 2,884 | |||||||
Other | 7,278 | 5,762 | |||||||
Total accrued liabilities | $ | 74,379 | $ | 67,124 | |||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||||||
Feb. 02, 2014 | |||||||||||||
Long-Term Debt | ' | ||||||||||||
Note 7: Long-Term Debt | |||||||||||||
Long-term debt consisted of the following: | |||||||||||||
February 2, 2014 | February 3, 2013 | ||||||||||||
Senior secured credit facility—term | $ | 144,375 | $ | 145,875 | |||||||||
Senior notes | 200,000 | 200,000 | |||||||||||
Total debt outstanding | 344,375 | 345,875 | |||||||||||
Unamortized debt discount | (550 | ) | (796 | ) | |||||||||
Less current installments | (1,500 | ) | (1,500 | ) | |||||||||
Long-term debt, less current installments, net of unamortized discount | $ | 342,325 | $ | 343,579 | |||||||||
Senior Secured Credit Facility | |||||||||||||
Our senior secured credit facility provides (a) a $150,000 term loan facility with a maturity date of June 1, 2016, and (b) a $50,000 revolving credit facility with a maturity date of June 1, 2015. The $50,000 revolving credit facility includes (i) a $20,000 letter of credit sub-facility (ii) a $5,000 swingline sub-facility and (iii) a $1,000 (in US Dollar equivalent) sub-facility available in Canadian dollars to the Canadian subsidiary. The revolving credit facility will be used to provide financing for general purposes. The Company originally received proceeds on the term loan facility of $148,500, net of a $1,500 discount. The discount is being amortized to interest expense over the life of the term loan facility. As of February 2, 2014, we had no borrowings under the revolving credit facility, borrowings of $144,375 ($143,825, net of discount) under the term facility and $5,670 in letters of credit outstanding. We believe that the carrying amount of our term credit facility approximates its fair value because the interest rates are adjusted regularly based on current market conditions. The interest rate on the term loan facility at February 2, 2014 was 4.5%. The fair value of the Company’s senior secured credit facility was determined to be a Level Two instrument as defined by GAAP. | |||||||||||||
The interest rates per annum applicable to loans, other than swingline loans, under our senior secured credit facility are currently set based on a defined Eurodollar rate plus an applicable margin. Swingline loans bear interest at a base rate plus an applicable margin. | |||||||||||||
The senior secured credit facility requires compliance with financial covenants including a minimum fixed charge coverage ratio test and a maximum leverage ratio test. The Company is required to maintain a minimum fixed charge coverage ratio of 1.15:1.00 and a maximum leverage ratio of 4.00:1.00 as of February 2, 2014. The financial covenants will become more restrictive over time. The required minimum fixed charge coverage ratio increases annually to a required ratio of 1.30:1.00 in the fourth quarter of fiscal year 2014 and thereafter. The maximum leverage ratio decreases annually to a required ratio of 3.25:1.00 in the fourth quarter of fiscal year 2014 and thereafter. In addition, the senior secured credit facility includes negative covenants restricting or limiting, D&B Holdings, Dave & Buster’s and its subsidiaries’ ability to, among other things, incur additional indebtedness, pay dividends, make capital expenditures and sell or acquire assets. Virtually all of the Company’s assets are pledged as collateral for the senior secured credit facility. | |||||||||||||
On May 13, 2011, the Company executed an amendment (the “Amendment”) to the senior secured credit facility. The Amendment reduced the applicable term loan margins and LIBOR floor used in setting interest rates, as well as limited the Company’s requirement to meet the covenant ratios, as stipulated in the Amendment, until such time as we make a draw on our revolving credit facility or issue letters of credit in excess of $12,000. As of February 2, 2014, we have had no draws on our revolving credit facility and outstanding letters of credit have not exceeded $12,000, and as such we were not required to maintain financial ratios under our senior secured credit facility. | |||||||||||||
On May 14, 2013, the Company executed a second amendment (the “Second Amendment”) to the senior secured credit facility. The primary modification included in the Second Amendment is a reduction in the applicable term loan margin based on a consolidated leverage ratio greater than or equal to 2.75:1.00. If our consolidated leverage ratio is less than 2.75:1.00, the applicable term loan margin will be reduced for periods subsequent to fiscal 2013. As of February 2, 2014, our consolidated leverage was 2.55:1.00. | |||||||||||||
Our senior secured credit facility also contains certain customary representations and warranties, affirmative covenants and events of default, including payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults and cross-acceleration to certain indebtedness, certain events of bankruptcy, certain events under the Employee Retirement Income Security Act of 1974 as amended from time to time (“ERISA”), material judgments, actual or asserted failures of any guarantee or security document supporting the senior secured credit facility to be in full force and effect and a change of control. If an event of default occurs, the lenders under the senior secured credit facility would be entitled to take various actions, including acceleration of amounts due under the senior secured credit facility and all other actions permitted to be taken by a secured creditor. | |||||||||||||
Funds managed by Oak Hill Advisors, L.P. (the “OHA Funds”) comprise one of twenty-two creditors participating in the term loan portion of our senior secured credit facility. As of February 2, 2014, the OHA Funds held approximately 9.97%, or $14,394, of our total term loan obligation. Oak Hill Advisors, L.P. is an independent investment firm that is not an affiliate of the Oak Hill Funds and is not under common control with the Oak Hill Funds. Oak Hill Advisors, L.P. and an affiliate of Oak Hill Capital Management, LLC co-manage Oak Hill Special Opportunities Fund, L.P., a private fund. Certain employees of the Oak Hill Funds, in their individual capacities, have passive investments in Oak Hill Advisors, L.P. and/or the funds it manages. | |||||||||||||
Senior notes —Our senior notes are general unsecured, unsubordinated obligations of the Company and mature on June 1, 2018. Interest on the notes is paid semi-annually and accrues at the rate of 11.0% per annum. On or after June 1, 2014, the Company may redeem all, or from time-to-time, a part of the senior notes at redemption prices (expressed as a percentage of principal amount) ranging from 105.5% to 100.0% plus accrued and unpaid interest. As of February 2, 2014, our $200,000 of senior notes had an approximate fair value of $214,500 based on quoted market price. The fair value of the Company’s senior notes was considered to be Level One instruments as defined by GAAP. | |||||||||||||
The senior notes restrict the Company’s ability to incur indebtedness, outside of the senior secured credit facility, unless the consolidated coverage ratio exceeds 2.00:1.00 or other financial and operational requirements are met. Additionally, the terms of the notes restrict the Company’s ability to make certain payments to affiliated entities. The Company was in compliance with the debt covenants as of February 2, 2014. | |||||||||||||
Future debt obligations —The following table sets forth our future debt payment obligations (excluding repayment obligations under the revolving portion of our senior secured credit facility). | |||||||||||||
Debt Outstanding | |||||||||||||
as of February 2, | |||||||||||||
2014 | |||||||||||||
1 year or less | $ | 1,500 | |||||||||||
2 years | 1,500 | ||||||||||||
3 years | 141,375 | ||||||||||||
4 years | — | ||||||||||||
5 years | 200,000 | ||||||||||||
Thereafter | — | ||||||||||||
Total future payments | $ | 344,375 | |||||||||||
The following table sets forth our recorded interest expense, net: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
February 2, | February 3, | January 29, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Debt-based interest expense | $ | 29,675 | $ | 31,393 | $ | 31,313 | |||||||
Amortization of issuance cost and discount | 2,572 | 2,528 | 2,329 | ||||||||||
Interest income | (334 | ) | (336 | ) | (367 | ) | |||||||
Less capitalized interest | (602 | ) | (510 | ) | (759 | ) | |||||||
Total interest expense, net | $ | 31,311 | $ | 33,075 | $ | 32,516 | |||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Feb. 02, 2014 | |||||||||||||
Income Taxes | ' | ||||||||||||
Note 8: Income Taxes | |||||||||||||
The provision (benefit) for income taxes is as follows: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
February 2, | February 3, | January 29, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Current expense | |||||||||||||
Federal | $ | 3,531 | $ | 2,845 | $ | — | |||||||
Foreign | 97 | 361 | (175 | ) | |||||||||
State and local | 1,755 | 331 | 583 | ||||||||||
Deferred expense (benefit) | 1,849 | (10,895 | ) | 271 | |||||||||
Total provision (benefit) for income taxes | $ | 7,232 | $ | (7,358 | ) | $ | 679 | ||||||
Significant components of the deferred tax liabilities and assets in the consolidated balance sheets are as follows: | |||||||||||||
February 2, | February 3, | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Trademark/trade name | $ | 31,578 | $ | 31,928 | |||||||||
Property and equipment | 4,102 | 963 | |||||||||||
Prepaid expenses | 232 | 189 | |||||||||||
Total deferred tax liabilities | 35,912 | 33,080 | |||||||||||
Deferred tax assets: | |||||||||||||
Deferred revenue and ticket redemption | 9,540 | 7,252 | |||||||||||
Leasing transactions | 5,585 | 3,838 | |||||||||||
State net operating loss carryovers | 3,495 | 3,444 | |||||||||||
Workers’ compensation and general liability insurance | 3,429 | 3,666 | |||||||||||
Accrued liabilities | 1,985 | 2,770 | |||||||||||
Deferred compensation | 1,610 | 1,140 | |||||||||||
Tax credit carryovers | 719 | 3,227 | |||||||||||
Smallware supplies | 714 | 713 | |||||||||||
Indirect benefit of unrecognized tax benefits | 225 | 216 | |||||||||||
Other | 1,568 | 1,391 | |||||||||||
Total deferred tax assets | 28,870 | 27,657 | |||||||||||
Valuation allowance for deferred tax assets – US | (1,388 | ) | (1,158 | ) | |||||||||
Total deferred tax assets net of valuation allowance | 27,482 | 26,499 | |||||||||||
Net deferred tax liability | $ | 8,430 | $ | 6,581 | |||||||||
The Net deferred tax liability is presented in the Consolidated Balance Sheets as follows: | |||||||||||||
February 2, | February 3, | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred income taxes—current | $ | 15,985 | $ | 18,209 | |||||||||
Other assets and deferred charge | — | 286 | |||||||||||
Total deferred tax assets | 15,985 | 18,495 | |||||||||||
Deferred income taxes—current | — | 189 | |||||||||||
Deferred income taxes | 24,415 | 24,887 | |||||||||||
Total deferred tax liabilities | 24,415 | 25,076 | |||||||||||
Net deferred tax liability | $ | 8,430 | $ | 6,581 | |||||||||
At February 2, 2014, we had a valuation allowance of $1,388 against our deferred tax assets. The ultimate realization of our deferred tax assets is dependent on the generation of future taxable income during periods in which temporary differences become deductible. In assessing the realizability of our deferred tax assets, at February 2, 2014 we considered whether it is more likely than not that some or all of the deferred tax assets will not be realized. Based on the level of recent historical taxable income; consistent generation of annual taxable income, and estimations of future taxable income we have concluded that it is more likely than not that we will realize the federal tax benefits associated with our deferred tax assets. We assessed the realizability of the deferred tax assets associated with state taxes, foreign taxes and uncertain tax positions and have concluded that it is more likely than not that we will realize a portion of these benefits. Accordingly, we have increased our previously established valuation allowance against our deferred tax assets for state taxes and uncertain tax positions by $230. | |||||||||||||
As of February 2, 2014, we had available $670 of AMT credit carryovers. AMT credits can be carried forward indefinitely. As of February 2, 2014, we have fully utilized our federal net operating loss carryforwards. Generally, state net operating losses can be carried forward 20 years. State net operating loss carryforwards do not begin to expire until 2022. As of February 2, 2014, we could not conclude that it was more likely than not that all of our state net operating loss carryforwards, when considered on a state by state basis, will be fully utilized prior to their expiration. The Company has a valuation allowance of $1,200 related to state net operating loss carryforwards. | |||||||||||||
The State of Texas has enacted legislation which established a tax based on taxable margin. As a result of the legislation and in accordance with accounting guidance for income taxes, we recorded an income tax expense of $246, $269 and $228 for the fiscal years ended February 2, 2014, February 3, 2013 and January 29, 2012, respectively. | |||||||||||||
We currently anticipate that approximately $46 of unrecognized tax benefits will be settled through federal and state audits or will be recognized as a result of the expiration of statute of limitations during fiscal 2014. Future recognition of potential interest or penalties, if any, will be recorded as a component of income tax expense. Because of the impact of deferred tax accounting, $349 of unrecognized tax benefits, if recognized, would affect the effective tax rate. | |||||||||||||
We file income tax returns, which are periodically audited by various federal, state and foreign jurisdictions. We are generally no longer subject to federal, state, or foreign income tax examinations for years prior to 2009. In fiscal 2011 the Internal Revenue Service (“IRS”) commenced an examination of the Company’s U.S. income tax returns for fiscal 2009. As of February 2, 2014, the audit has been closed and the examination resulted in an immaterial change related to tax inventory carrying value. | |||||||||||||
The change in unrecognized tax benefits excluding interest, penalties and related income tax benefits were as follows: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
February 2, | February 3, | January 29, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Balance at beginning of year | $ | 471 | $ | 940 | $ | 881 | |||||||
Additions for tax positions of prior years | 176 | 108 | 118 | ||||||||||
Reductions for tax positions of prior years | (32 | ) | (1 | ) | — | ||||||||
Settlements | — | (576 | ) | — | |||||||||
Lapse of statute of limitations | (139 | ) | — | (59 | ) | ||||||||
Balance at end of year | $ | 476 | $ | 471 | $ | 940 | |||||||
As of February 2, 2014 and February 3, 2013, the accrued interest and penalties on the unrecognized tax benefits were $291 and $290, respectively, excluding any related income tax benefits. The Company recorded accrued interest related to the unrecognized tax benefits and penalties as a component of the provision for income taxes recognized in the Consolidated Statements of Operations. | |||||||||||||
The reconciliation of the federal statutory rate to the effective income tax rate follows: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
February 2, | February 3, | January 29, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Federal corporate statutory rate | 35 | % | 35 | % | 35 | % | |||||||
State and local income taxes, net of federal income tax benefit | 7 | % | 1.9 | % | (8.6 | )% | |||||||
Foreign taxes | 1.3 | % | (0.3 | )% | (7.9 | )% | |||||||
Nondeductible expenses | 4.1 | % | 8.7 | % | 46.6 | % | |||||||
Tax credits | (12.3 | )% | (24.2 | )% | (132.4 | )% | |||||||
Valuation allowance | 1.2 | % | (94.8 | )% | 51.5 | % | |||||||
Change in reserve | — | % | (12.1 | )% | 13.8 | % | |||||||
Other | 0.3 | % | 16.7 | % | 43.6 | % | |||||||
Effective tax rate | 36.6 | % | (69.1 | )% | 41.6 | % | |||||||
Leases
Leases | 12 Months Ended | ||||||||||||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||||||||||||
Leases | ' | ||||||||||||||||||||||||||
Note 9: Leases | |||||||||||||||||||||||||||
We lease certain property and equipment under various non-cancelable operating leases. Some of the leases include options for renewal or extension on various terms. Most of the leases require us to pay property taxes, insurance and maintenance of the leased assets. Certain leases also have provisions for additional contingent rentals based on revenues. For fiscal 2013, rent expense for operating leases was $54,450, including contingent rentals of $2,858. For fiscal 2012, rent expense for operating leases was $50,561, including contingent rentals of $2,620. For fiscal 2011, rent expense for operating leases was $47,342, including contingent rentals of $2,310. At February 2, 2014 future minimum lease payments, including any periods covered by renewal options we are reasonably assured of exercising (including the sale/leaseback transactions described below), are: | |||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
$ | 57,024 | $ | 56,068 | $ | 54,947 | $ | 53,125 | $ | 49,603 | $ | 284,780 | $ | 555,547 | ||||||||||||||
At February 2, 2014, we also had lease commitments on equipment as follows: | |||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
$ | 797 | $ | 606 | $ | 167 | $ | 14 | $ | — | $ | — | $ | 1,584 | ||||||||||||||
We have signed operating lease agreements for our stores located in Westchester, California and Vernon Hills, Illinois which opened in February and March 2014 respectively, and a future site in Panama City Beach, Florida which is expected to open in the second quarter of fiscal 2014. The landlord has fulfilled the obligations to commit us to the lease terms under these agreements and therefore, the future obligations related to these locations are included in the table above. Lease obligations related to the Company’s location in Bethesda, Maryland have also been included in the table above. See Note 13, “Subsequent events” to our Consolidated Financial Statements for a description of events pertaining to the Bethesda, Maryland location. | |||||||||||||||||||||||||||
As of February 2, 2014 we have signed eleven additional lease agreements for future sites. Our commitments under these agreements are contingent upon among other things, the landlord’s delivery of access to the premises for construction. Future obligations related to these agreements are not included in the table above. Subsequent to February 2, 2014, future sites in Los Angeles, CA and Manchester, CT were delivered by their respective landlords resulting in future commitments of approximately $38,000. | |||||||||||||||||||||||||||
During 2000 and 2001, we completed the sale/leaseback of three stores and the corporate headquarters. Cash proceeds of $24,774 were received along with twenty-year notes aggregating $6,750. The notes bear interest of 7% to 7.5%. At the end of fiscal years 2013 and 2012, the aggregate balance of the notes receivable due from the lessors under the sale/leaseback agreements was $2,936 and $3,201, respectively. Future minimum principal and interest payments due to us under these notes are as follows: | |||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
$ | 489 | $ | 489 | $ | 489 | $ | 489 | $ | 489 | $ | 1,424 | $ | 3,869 |
Common_Stock
Common Stock | 12 Months Ended | ||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||
Common Stock | ' | ||||||||||||||||
Note 10: Common Stock | |||||||||||||||||
Stock Option Plans-Successor | |||||||||||||||||
In June 2010 the members of D&B Entertainment board of directors approved the adoption of the 2010 D&B Entertainment Incentive Plan. The 2010 D&B Entertainment Incentive Plan provides for the granting of options to acquire stock in D&B Entertainment to certain of our employees, outside directors and consultants. The options are subject to either time-based vesting or performance-based vesting. Options granted under the 2010 D&B Entertainment Incentive Plan terminate on the ten-year anniversary of the grants. | |||||||||||||||||
The various options provided for in the 2010 D&B Entertainment Incentive Plan are as follows, in each case subject to the grantees continued employment with or service to D&B Entertainment or its subsidiaries (subject to certain conditions in the event of grantee termination): | |||||||||||||||||
Service-based options | |||||||||||||||||
These options contain a service-based (or time-based) vesting provision, whereby the options will vest annually in five equal amounts. Upon sale of the Company or completion of an initial public offering, all service-based options will fully vest. | |||||||||||||||||
Performance-based options | |||||||||||||||||
These options contain various performance-based vesting provisions depending on the type of performance option granted. Adjusted EBITDA vesting options vest over a prescribed time period based on D&B Entertainment meeting certain profitability targets for each fiscal year during the vesting period. Adjusted EBITDA vesting options also vest upon a D&B Entertainment change of control provided that internal rate of return (IRR) conditions stipulated by the Oak Hill Funds are met. IRR vesting options vest upon a change in control of D&B Entertainment if the Oak Hill Fund’s internal rate of return is greater than or equal to certain percentages set forth in the applicable option agreement. Any options that have not vested prior to a change of control or do not vest in connection with a change of control will be forfeited by the grantee upon a change of control for no consideration. | |||||||||||||||||
Transactions during fiscal year 2013 under the 2010 D&B Entertainment Incentive Plan were as follows: | |||||||||||||||||
Service based options | Performance based options | ||||||||||||||||
Weighted | Weighted | ||||||||||||||||
Number | Average | Number | Average | ||||||||||||||
of Options | Exercise Price | of Options | Exercise Price | ||||||||||||||
Options outstanding at beginning of year | 4,966 | $ | 1,056 | 12,162 | $ | 1,015 | |||||||||||
Granted | 1,012 | 1,963 | 75 | 2,233 | |||||||||||||
Exercised | (44 | ) | 1,000 | (36 | ) | 1,000 | |||||||||||
Forfeited | (141 | ) | 1,135 | (241 | ) | 1,000 | |||||||||||
Options outstanding at end of year | 5,793 | 1,213 | 11,960 | 1,023 | |||||||||||||
Options exercisable at end of year | 2,620 | $ | 1,060 | 3,333 | $ | 1,046 | |||||||||||
We recorded share-based compensation expense related to our stock option plan of $1,207, $1,099 and $1,038 during the fiscal year ended February 2, 2014, February 3, 2013 and January 29, 2012 respectively. The unrecognized expense related to our stock option plan totaled approximately $1,504 as of February 2, 2014 and will be expensed over a weighted average 1.6 years. The weighted average grant date fair value per option granted in fiscal year 2013 was $1,052. The average remaining term for all options outstanding at February 2, 2014 is 6.6 years. | |||||||||||||||||
In the event that vesting of the previously unvested options is accelerated for any reason, the remaining unamortized share-based compensation would be accelerated. In addition, assumptions made regarding forfeitures in determining the remaining unamortized share-based compensation would be re-evaluated to determine if additional share-based compensation expense would be required for any changes in the underlying assumptions. | |||||||||||||||||
Other Information – Related Party Transactions | |||||||||||||||||
On January 6, 2014, a former member of management exercised his option to purchase eighty shares of common stock at a strike price of $1,000. D&B Entertainment issued new shares in satisfaction of this exercise. Proceeds from the exercise were allocated to the Company in anticipation of future expenses. | |||||||||||||||||
As of February 2, 2014, the Oak Hill Funds control approximately 95.4% and certain members of our Board of Directors and management control approximately 4.5% of the outstanding common stock of D&B Entertainment. The remaining 0.1% is owned by a former member of management. |
Employee_Benefit_Plan
Employee Benefit Plan | 12 Months Ended |
Feb. 02, 2014 | |
Employee Benefit Plan | ' |
Note 11: Employee Benefit Plan | |
We sponsor a plan to provide retirement benefits under the provisions of Section 401(k) of the Internal Revenue Code (the “401(k) Plan”) for all employees who have completed a specified term of service. Our contributions may range from 0% to 100% of employee contributions, up to a maximum of 6% of eligible employee compensation, as defined by the 401(k) Plan. Employees may elect to contribute up to 50% of their eligible compensation on a pretax basis. Benefits under the 401(k) Plan are limited to the assets of the 401(k) Plan. Expenses related to our contributions to the 401(k) Plan were $370, $382, and $273 for fiscal 2013, 2012, and 2011, respectively. |
Contingencies
Contingencies | 12 Months Ended |
Feb. 02, 2014 | |
Contingencies | ' |
Note 12: Contingencies | |
We are subject to certain legal proceedings and claims that arise in the ordinary course of our business. In the opinion of management, based upon consultation with legal counsel, the amount of ultimate liability with respect to such legal proceedings and claims will not materially affect the consolidated results of our operations or our financial condition. | |
We are subject to the terms of a settlement agreement with the Federal Trade Commission (FTC) that requires us, on an ongoing basis, to establish, implement, and maintain a comprehensive information security program that is reasonably designed to protect the security, confidentiality, and integrity of personal information collected from or about consumers. The agreement does not require us to pay any fines or other monetary assessments and we do not believe that the terms of the agreement will have a material adverse effect on our business, operations, or financial performance. |
Subsequent_events
Subsequent events | 12 Months Ended |
Feb. 02, 2014 | |
Subsequent events | ' |
Note 13: Subsequent events | |
On November 14, 2013, the Company filed a complaint in federal court seeking declaratory and injunctive relief related to actions taken by a landlord attempting to terminate the lease agreement for our store in Bethesda, Maryland. The landlord has alleged that the Company is in default of certain lease agreement provisions which restrict our ability to operate other Dave & Buster’s facilities within a prescribed distance of the Bethesda location. We believed that the lease provisions cited by the landlord were not legally enforceable and that the Company had the right to operate all facilities for the duration of the original lease term and any available lease extension periods. On March 21, 2014, the court ruled against the Company. The Company is evaluating all options available to it, including the filing of motions or appeals in an effort to overturn this decision. However, it is likely the store will close in fiscal 2014. We believe that all of our fixed assets from the Bethesda store are either fully depreciated or can be transferred to other locations. With past store closures, we have experienced customer migration to other stores within the same market. We believe that some customers will choose to visit our store in Hanover, Maryland, which is approximately 30 miles from our Bethesda store. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 12 Months Ended | ||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||
Condensed Consolidating Financial Information | ' | ||||||||||||||||
Note 14: Condensed Consolidating Financial Information | |||||||||||||||||
The senior notes are guaranteed on a senior basis by all domestic subsidiaries of the Company. The subsidiaries’ guarantee of the senior notes are full and unconditional and joint and several. | |||||||||||||||||
The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X Rule 3-10 “Financial statements of guarantors and issuers of guaranteed securities registered or being registered.” No other condensed consolidating financial statements are presented herein. The results of operations and cash flows from operating activities from the non-guarantor subsidiary were $(493) and $(4,270), respectively, for the fiscal year ended February 2, 2014 and $249 and $3,474, respectively for the fiscal year ended February 3, 2013. There are no restrictions on cash distributions from the non-guarantor subsidiary. | |||||||||||||||||
February 2, 2014: | |||||||||||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, | ||||||||||||||
Guarantors | Guarantors | Inc. | |||||||||||||||
Assets: | |||||||||||||||||
Current assets | $ | 89,095 | $ | 1,381 | $ | — | $ | 90,476 | |||||||||
Property and equipment, net (Note 4) | 383,409 | 4,684 | — | 388,093 | |||||||||||||
Tradenames (Note 5) | 79,000 | — | — | 79,000 | |||||||||||||
Goodwill (Note 5) | 273,725 | (1,297 | ) | — | 272,428 | ||||||||||||
Investment in sub | 3,303 | — | (3,303 | ) | — | ||||||||||||
Other assets and deferred charges | 21,319 | 70 | — | 21,389 | |||||||||||||
Total assets | $ | 849,851 | $ | 4,838 | $ | (3,303 | ) | $ | 851,386 | ||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, | ||||||||||||||
Guarantors | Guarantors | Inc. | |||||||||||||||
Liabilities and stockholder’s equity: | |||||||||||||||||
Current liabilities | $ | 111,279 | $ | 1,765 | $ | — | $ | 113,044 | |||||||||
Deferred income taxes | 24,766 | (351 | ) | — | 24,415 | ||||||||||||
Deferred occupancy costs | 81,622 | 121 | — | 81,743 | |||||||||||||
Other liabilities | 15,599 | — | — | 15,599 | |||||||||||||
Long-term debt, less current installments, net of unamortized discount (Note 7) | 342,325 | — | — | 342,325 | |||||||||||||
Stockholder’s equity | 274,260 | 3,303 | (3,303 | ) | 274,260 | ||||||||||||
Total liabilities and stockholder’s equity | $ | 849,851 | $ | 4,838 | $ | (3,303 | ) | $ | 851,386 | ||||||||
February 3, 2013: | |||||||||||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, | ||||||||||||||
Guarantors | Guarantors | Inc. | |||||||||||||||
Assets: | |||||||||||||||||
Current assets | $ | 85,696 | $ | 6,122 | $ | — | $ | 91,818 | |||||||||
Property and equipment, net (Note 4) | 333,018 | 4,221 | — | 337,239 | |||||||||||||
Tradenames (Note 5) | 79,000 | — | — | 79,000 | |||||||||||||
Goodwill (Note 5) | 273,725 | (1,447 | ) | — | 272,278 | ||||||||||||
Investment in sub | 4,215 | — | (4,215 | ) | — | ||||||||||||
Other assets and deferred charges | 23,854 | 364 | — | 24,218 | |||||||||||||
Total assets | $ | 799,508 | $ | 9,260 | $ | (4,215 | ) | $ | 804,553 | ||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, | ||||||||||||||
Guarantors | Guarantors | Inc. | |||||||||||||||
Liabilities and stockholder’s equity: | |||||||||||||||||
Current liabilities | $ | 87,936 | $ | 4,947 | $ | — | $ | 92,883 | |||||||||
Deferred income taxes | 24,887 | — | — | 24,887 | |||||||||||||
Deferred occupancy costs | 69,446 | 98 | — | 69,544 | |||||||||||||
Other liabilities | 12,684 | — | — | 12,684 | |||||||||||||
Long-term debt, less current installments, net of unamortized discount (Note 7) | 343,579 | — | — | 343,579 | |||||||||||||
Stockholder’s equity | 260,976 | 4,215 | (4,215 | ) | 260,976 | ||||||||||||
Total liabilities and stockholder’s equity | $ | 799,508 | $ | 9,260 | $ | (4,215 | ) | $ | 804,553 | ||||||||
Quarterly_Financial_Informatio
Quarterly Financial Information | 12 Months Ended | ||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||
Quarterly Financial Information | ' | ||||||||||||||||
Note 15: Quarterly Financial Information (unaudited) | |||||||||||||||||
Fiscal Year Ended February 2, 2014 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
5/5/13 | 8/4/13 | 11/3/13 | 2/2/14 | ||||||||||||||
Total revenues | $ | 168,155 | $ | 153,723 | $ | 142,330 | $ | 171,371 | |||||||||
Income (loss) before provision (benefit) for income taxes | 14,523 | 3,232 | (8,679 | ) | 10,652 | ||||||||||||
Net income (loss) | 10,029 | 2,386 | (6,743 | ) | 6,824 | ||||||||||||
Fiscal Year Ended February 3, 2013 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
4/29/12 | 7/29/12 | 10/28/12 | 2/3/2013 (1) | ||||||||||||||
Total revenues | $ | 163,474 | $ | 147,941 | $ | 131,066 | $ | 165,586 | |||||||||
Income (loss) before provision (benefit) for income taxes | 14,725 | 315 | (10,541 | ) | 6,140 | ||||||||||||
Net income (loss) | 10,984 | 687 | (1,621 | ) | 7,947 | ||||||||||||
-1 | Our fiscal 2012 year consisted of 53 weeks. Each quarterly period has 13 weeks, except the fourth quarterly period ended February 3, 2013, which consists of 14 weeks. We have estimated the revenues during the 53rd week of fiscal 2012 to be $10,355. | ||||||||||||||||
During 2013, we opened five locations: Virginia Beach, Virginia, in the second quarter, Syracuse, New York and Albany, New York, in the third quarter, Cary, North Carolina and Livonia, Michigan in the fourth quarter. During 2012, we opened four locations: Oklahoma City, Oklahoma in the first quarter, Orland Park, Illinois in the third quarter, Dallas, Texas and Boise, Idaho both in the fourth quarter. Additionally, during the fourth quarter of fiscal 2012, we permanently closed one store in Dallas, Texas. Pre-opening costs incurred in fiscal 2013 were $872, $1,970, $2,333 and $1,865 in the first, second, third and fourth quarters, respectively. Pre-opening costs incurred in fiscal 2012 were $150, $559, $1,089 and $1,262 in the first, second, third and fourth quarters, respectively. |
Description_of_Business_and_Su1
Description of Business and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||||||||||
Description of Business | ' | ||||||||||||||||||||||||
Description of Business — Dave & Buster’s, Inc., a Missouri corporation, owns, operates and licenses high-volume venues that combine dining and entertainment in North America for both adults and families. Our venues operate under the names “Dave & Buster’s” and “Dave & Buster’s Grand Sports Café.” As of February 2, 2014, there were 66 company-owned locations in the United States and Canada. Subsequent to February 2, 2014, we opened new stores in Westchester, California and Vernon Hills, Illinois. On May 31, 2013, our lone franchise store ceased operation as Dave & Buster’s. This change and the associated termination of the related franchise and development agreements did not have a material impact on our financial position or results of operations. Dave & Buster’s, Inc. operates its business as one operating and one reportable segment. We operate on a 52 or 53 week fiscal year that ends on the Sunday after the Saturday closest to January 31. Each quarterly period has 13 weeks, except for a 53 week year when the fourth quarter has 14 weeks. Our fiscal year ended February 3, 2013 consisted of 53 weeks. All other fiscal years presented herein consist of 52 weeks. | |||||||||||||||||||||||||
Dave & Buster’s, Inc. is a wholly owned subsidiary of Dave & Buster’s Holdings, Inc. (“D&B Holdings”), a Delaware corporation. D&B Holdings is a wholly owned subsidiary of Dave & Buster’s Entertainment, Inc. (“D&B Entertainment”), a Delaware corporation owned by Oak Hill Capital Partners III, L.P., Oak Hill Capital Management Partners III, L.P. (collectively the “Oak Hill Funds”) and certain members of the Board of Directors and management of Dave & Buster’s, Inc. | |||||||||||||||||||||||||
D&B Entertainment owns no other significant assets or operations other than the ownership of all the common stock of D&B Holdings. D&B Holdings owns no other significant assets or operations other than the ownership of all the common stock of Dave & Buster’s, Inc. References to “Dave & Buster’s,” the “Company,” “we,” “us,” and “our” are references to Dave & Buster’s, Inc. and its subsidiaries. | |||||||||||||||||||||||||
Basis of Presentation | ' | ||||||||||||||||||||||||
Basis of Presentation — The accompanying audited financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States as prescribed by the Securities and Exchange Commission. | |||||||||||||||||||||||||
The financial statements include our accounts after elimination of all significant intercompany balances and transactions. See discussion of advances/payables to D&B Entertainment under the “Related Party” section. All dollar amounts are presented in thousands, unless otherwise noted, except share amounts. | |||||||||||||||||||||||||
Seasonality | ' | ||||||||||||||||||||||||
Seasonality — Our revenues and operations are influenced by seasonal shifts in consumer spending. Revenues associated with spring and year-end holidays during our first and fourth quarters have historically been higher as compared to the other quarters and will continue to be susceptible to the impact of severe spring and winter weather on customer traffic and sales during those periods. Our third quarter, which encompasses the end of the summer vacation season, has historically had lower revenues as compared to the other quarters. | |||||||||||||||||||||||||
Use of estimates | ' | ||||||||||||||||||||||||
Use of estimates —The preparation of financial statements in conformity with GAAP requires us to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. | |||||||||||||||||||||||||
Cash and cash equivalents | ' | ||||||||||||||||||||||||
Cash and cash equivalents —We consider transaction settlements in process from credit card companies and all highly liquid temporary investments with original maturities of three months or less to be cash equivalents. | |||||||||||||||||||||||||
Concentration of Credit Risk | ' | ||||||||||||||||||||||||
Concentration of Credit Risk — Financial instruments which potentially subject us to a concentration of credit risk are cash and cash equivalents. We currently maintain our day-to-day operating cash balances with major financial institutions. At times, our operating cash balances may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limit. From time to time, we invest temporary excess cash in overnight investments with expected minimal volatility, such as money market funds. Although we maintain balances that exceed the FDIC insured limit, we have not experienced any losses related to this balance, and we believe credit risk to be minimal. | |||||||||||||||||||||||||
Inventories | ' | ||||||||||||||||||||||||
Inventories —Inventories of food, beverages, merchandise and other supplies needed for our food service and amusement operations are stated at the lower of cost or market determined on a first-in, first-out method. | |||||||||||||||||||||||||
Deferred tax assets | ' | ||||||||||||||||||||||||
Deferred tax assets — A deferred income tax asset or liability is established for the expected future consequences resulting from temporary differences in the financial reporting and tax basis of assets and liabilities. As of February 2, 2014, we had recorded $1,388 as a valuation allowance against a portion of our deferred tax assets. The valuation allowance was established in accordance with accounting guidance for income taxes. If we generate taxable income in future periods or if the facts and circumstances on which our estimates and assumptions are based were to change, thereby impacting the likelihood of realizing the deferred tax assets, judgment would have to be applied in determining the amount of valuation allowance no longer required or if an addition to the allowance would be required. | |||||||||||||||||||||||||
Property and equipment | ' | ||||||||||||||||||||||||
Property and equipment —Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is charged to operations using the straight-line method over the assets’ estimated useful lives, which are as follows: | |||||||||||||||||||||||||
Estimated Depreciable | |||||||||||||||||||||||||
Lives (In Years) | |||||||||||||||||||||||||
Buildings and building improvements | Shorter of 40 or expected | ||||||||||||||||||||||||
ground lease term | |||||||||||||||||||||||||
Leasehold improvements | Shorter of 20 Or | ||||||||||||||||||||||||
expected lease term | |||||||||||||||||||||||||
Furniture, fixtures and equipment | 10-Mar | ||||||||||||||||||||||||
Games | 20-May | ||||||||||||||||||||||||
Expenditures that substantially increase the useful lives of the property and equipment are capitalized, whereas costs incurred to maintain the appearance and functionality of such assets are charged to repair and maintenance expense. Interest costs incurred during construction are capitalized and depreciated based on the estimated useful life of the underlying asset. | |||||||||||||||||||||||||
We review our property and equipment annually, on a store-by-store basis to determine whether facts or circumstances exist that may indicate the carrying values of these long-lived assets are impaired. We compare store-level undiscounted operating cash flows (which excludes interest, general and administrative and other allocated expenses) to the carrying amount of property and equipment allocated to each store. If the expected future cash flows are less than the asset carrying amount (an indication that the carrying amount may not be recoverable), we may recognize an impairment loss. Any impairment loss recognized equals the amount by which the asset carrying amount exceeds its fair value. We recognized an impairment loss of $200 during fiscal 2011 related to one of our stores in Dallas, Texas, which we permanently closed on May 2, 2011. No impairment charges were recognized in fiscal years 2013 or 2012. | |||||||||||||||||||||||||
Goodwill and other intangible assets | ' | ||||||||||||||||||||||||
Goodwill and other intangible assets —In accordance with accounting guidance for goodwill and other intangible assets, goodwill and indefinite lived intangibles, such as tradenames, are not amortized, but are reviewed for impairment at least annually. We perform step one of the impairment test in our fourth quarter unless circumstances require this analysis to be completed sooner. Step one of the impairment test is based upon a comparison of the carrying value of our net assets, including goodwill balances, to the fair value of our net assets. Fair value is measured using a combination of the guideline company method, external transaction method, and the income approach. The guideline company method uses valuation multiples from selected publicly-traded companies that we believe are exposed to market forces that are similar to those faced by the Company. The external transaction method involves analyzing previous mergers or acquisitions involving private or public companies that are similar to the Company. The income approach consists of utilizing the discounted cash flow method that incorporates our estimates of future revenues and costs, discounted using a risk-adjusted discount rate. Key assumptions used in our testing include future store openings, revenue growth, operating expenses and discount rate. Estimates of revenue growth and operating expenses are based on internal projections considering our past performance and forecasted growth, market economics and the business environment impacting our Company’s performance. Discount rates are determined by using a weighted average cost of capital (“WACC”). The WACC considers market and industry data as well as company-specific risk factors. These estimates are highly subjective judgments and can be significantly impacted by changes in the business or economic conditions. Our estimates used in the income approach are consistent with the plans and estimates used to manage operations. We evaluate all methods to ensure reasonably consistent results. Based on the completion of the step one test, we determined that goodwill was not impaired. | |||||||||||||||||||||||||
The evaluation of the carrying amount of other intangible assets with indefinite lives is made at least annually by comparing the carrying amount of these assets to their estimated fair value. The estimated fair value is generally determined on the basis of discounted future cash flows. If the estimated fair value is less than the carrying amount of the other intangible assets with indefinite lives, then an impairment charge is recorded to reduce the asset to its estimated fair value. | |||||||||||||||||||||||||
Based on our analysis, we determined that our intangible assets with an indefinite life, our tradename, was not impaired. | |||||||||||||||||||||||||
We have developed and acquired certain trademarks that are utilized in our business and have been determined to have finite lives. We also have intangible assets related to our non-compete agreements and customer relationships. These intangible assets are included in “Other assets and deferred charges” on the Consolidated Balance Sheet and are amortized over their useful lives. | |||||||||||||||||||||||||
Deferred financing costs | ' | ||||||||||||||||||||||||
Deferred financing costs —The Company capitalizes costs incurred in connection with borrowings or establishment of credit facilities. These costs are included in “Other assets and deferred charges”, and are amortized as an adjustment to interest expense over the life of the borrowing or life of the credit facility. In the case of early debt principal repayments, the Company adjusts the value of the corresponding deferred financing costs with a charge to interest expense, and similarly adjusts the future amortization expense. The following table details amounts relating to those assets: | |||||||||||||||||||||||||
Fiscal Year ended | Fiscal Year ended | Fiscal Year ended | |||||||||||||||||||||||
February 2, 2014 | February 3, 2013 | January 29, 2012 | |||||||||||||||||||||||
Balance at beginning of period | $ | 7,959 | $ | 10,200 | $ | 11,312 | |||||||||||||||||||
Additional deferred financing costs | 726 | — | 968 | ||||||||||||||||||||||
Amortization during period | (2,234 | ) | (2,241 | ) | (2,080 | ) | |||||||||||||||||||
Balance at end of period | $ | 6,451 | $ | 7,959 | $ | 10,200 | |||||||||||||||||||
Self-Insurance Accruals | ' | ||||||||||||||||||||||||
Self-Insurance Accruals—We are self-insured for certain losses related to workers’ compensation claims, general liability matters and our company sponsored employee health insurance programs. We estimate the accrued liabilities for our self-insurance programs using historical claims experience and loss reserves, assisted by independent third-party actuaries. To limit our exposure to losses, we maintain stop-loss coverage through third-party insurers. | |||||||||||||||||||||||||
Comprehensive income (loss) | ' | ||||||||||||||||||||||||
Comprehensive income (loss) —Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. In addition to net income, unrealized foreign currency translation gain (loss) is included in comprehensive income (loss). Unrealized translation loss for fiscal 2013 was $419. Unrealized translation gains for fiscal 2012 and fiscal 2011 were $15, and $42, respectively. | |||||||||||||||||||||||||
Foreign currency translation | ' | ||||||||||||||||||||||||
Foreign currency translation—The financial statements related to the operations of our Toronto store are prepared in Canadian dollars. Income statement amounts are translated at average exchange rates for each period, while the assets and liabilities are translated at year-end exchange rates. Translation adjustments for assets and liabilities are included in stockholder’s equity as a component of comprehensive income (loss). | |||||||||||||||||||||||||
Fair Value Disclosures | ' | ||||||||||||||||||||||||
Fair Value Disclosures— Fair value is defined as the price that we would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three-level hierarchy used in measuring fair value, as follows: | |||||||||||||||||||||||||
• | Level 1 inputs are quoted prices available for identical assets and liabilities in active markets. | ||||||||||||||||||||||||
• | Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data. | ||||||||||||||||||||||||
• | Level 3 inputs are less observable and reflect our own assumptions. | ||||||||||||||||||||||||
Our financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, our senior secured credit facility, and our senior notes. The carrying amount of cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of their short maturities. We believe that the carrying amount of our term credit facility approximates its fair value because the interest rates are adjusted regularly based on current market conditions. The fair value disclosures for our senior notes are presented in Note 7. | |||||||||||||||||||||||||
We may adjust the carrying amount of certain nonfinancial assets to fair value on a non-recurring basis when they are impaired. No such adjustments were made in fiscal year 2013 or 2012. | |||||||||||||||||||||||||
Share-based expense | ' | ||||||||||||||||||||||||
Share-based expense— The expense associated with share-based equity awards granted as more fully described in Note 10 have been calculated as required by current accounting standards related to stock compensation. The grant date fair values of the options granted in 2013, 2012 and 2011 have been determined based on the option pricing method prescribed in AICPA Practice Aid, Valuation of privately-Held-Company Equity Securities Issued as Compensation. The expected term of the options were based on the weighted average of anticipated exercise dates. Since we do not have publicly traded equity securities, the volatility of our options has been estimated using peer group volatility information. The risk-free interest rate was based on the implied yield on U.S. Treasury zero-coupon issues with a remaining term equivalent to the expected term. The significant assumptions used in determining the underlying fair value of the weighted-average options granted in fiscal 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||
Fiscal 2013 | Fiscal 2012 | Fiscal 2011 | |||||||||||||||||||||||
Service | Performance | Service | Performance | Service | Performance | ||||||||||||||||||||
Based | Based | Based | Based | Based | Based | ||||||||||||||||||||
Volatility | 48.2 | % | 47 | % | 44.7 | % | 50 | % | 55 | % | 55 | % | |||||||||||||
Risk free interest rate | 1.15 | % | 1.06 | % | 0.78 | % | 0.33 | % | 1.46 | % | 1.47 | % | |||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||
Expected term – in years | 6.5 | 6.5 | 4.9 | 3 | 4 | 4 | |||||||||||||||||||
Weighted average calculated value | $ | 1,060.88 | $937.00 | $545.76 | $506.15 | $220.59 | $117.98 | ||||||||||||||||||
The options granted in fiscal years 2013, 2012 and 2011 have been issued pursuant to the terms of the Dave & Buster’s Entertainment, Inc. 2010 Management Incentive Plan (“2010 D&B Entertainment Incentive Plan”). The 2010 D&B Entertainment Incentive Plan allows the granting of nonqualified stock options to members of management, outside board members and consultants. Grantees may receive (i) time vesting options, which vest ratably on the first through fifth anniversary of the date of grant and/or (ii) performance vesting options which include Adjusted EBITDA vesting options that vest over a prescribed time period based on D&B Entertainment meeting certain profitability targets for each fiscal year and IRR vesting options which vest upon a change in control of D&B Entertainment if the Oak Hill Fund’s internal rate of return is greater than or equal to certain percentages set forth in the applicable option agreement, in each case subject to the grantee’s continued employment with or service to D&B Entertainment or its subsidiaries (subject to certain conditions in the event of grantee termination). | |||||||||||||||||||||||||
Revenue recognition | ' | ||||||||||||||||||||||||
Revenue recognition —Food and beverage revenues are recorded at point of service. Amusement revenues consist primarily of game play credits on Power Cards purchased and used by customers to activate most of the video and redemption games in our midway. Amusement revenues are primarily recognized upon utilization of these game play credits. We have recognized a liability for the estimated amount of unused game play credits which we believe our guests will utilize in the future based on credits remaining on Power Cards, historic utilization patterns and revenue per game play credit sold. | |||||||||||||||||||||||||
Amusements costs of products | ' | ||||||||||||||||||||||||
Amusements costs of products —Certain midway games allow guests to earn coupons, which may be redeemed for prizes. The cost of these prizes is included in the cost of amusement products and is generally recorded when coupons are utilized by the customer by redeeming the coupons for a prize in our “Winner’s Circle.” Customers may also store the coupon value on a Power Card for future redemption. We have accrued a liability for the estimated amount of outstanding coupons that we believe will be redeemed in subsequent periods based on coupons outstanding, historic redemption patterns and the estimated redemption cost of products per coupon. | |||||||||||||||||||||||||
Advertising costs | ' | ||||||||||||||||||||||||
Advertising costs —Advertising costs are recorded as an expense in the period in which we incur the costs or the first time the advertising takes place. Advertising costs expensed were $27,475, $28,502 and $26,612 fiscal year 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||
Lease accounting | ' | ||||||||||||||||||||||||
Lease accounting —Rent expense is recorded on a straight-line basis over the lease term. The lease term commences on the date when we take possession and have the right to control the use of the leased premises. The lease term includes the initial non-cancelable lease term plus any periods covered by renewal options that we consider reasonably assured of exercising. The difference between rent payments and rent expense in any period is recorded as “Deferred occupancy costs” in the Consolidated Balance Sheets. Construction allowances we receive from the lessor to reimburse us for the cost of leasehold improvements are recorded as “Deferred occupancy costs” and amortized as a reduction of rent over the term of the lease. | |||||||||||||||||||||||||
We had construction allowance receivables of $5,677 and $8,893 as of February 2, 2014 and February 3, 2013, respectively, related to our new store openings. Such balances are included in “Other current assets” in the Company’s Consolidated Balance Sheet. All receivable amounts are expected to be collected. | |||||||||||||||||||||||||
Related party transaction | ' | ||||||||||||||||||||||||
Related party transaction —We have an expense reimbursement agreement with Oak Hill Capital Management, LLC. Pursuant to this agreement, Oak Hill Capital Management, LLC provides general advice to us in connection with our long-term strategic plans, financial management, strategic transactions and other business matters. The expense reimbursement agreement provides for the reimbursement of certain expenses of Oak Hill Capital Management, LLC. The initial term of the expense reimbursement agreement expires in June 2015 and after that date such agreement will renew automatically on a year-to-year basis unless one party gives at least 30 days’ prior notice of its intention not to renew. We incurred expenses of $722 during fiscal 2013, $799 during fiscal 2012, and $860 during fiscal 2011 under the terms of the expense reimbursement agreement. | |||||||||||||||||||||||||
We expensed charges related to the expense reimbursement agreement described above, during fiscal 2013, 2012 and 2011 of approximately $201, $361 and $522, respectively, related to the acquisition of Dave & Buster’s directed by the Oak Hill Funds. | |||||||||||||||||||||||||
We made payments of $235, $235 and $0 in fiscal 2013, 2012 and 2011, respectively, to two board members who serve as advisors to the Oak Hill Funds. | |||||||||||||||||||||||||
From time to time we temporarily advance funds to D&B Entertainment for payment of expenditures for its corporate purposes. Additionally, we owe D&B entertainment for certain tax-related matters. We had a net payable of $6,907 and $3,349 as of February 2, 2014 and February 3, 2013, respectively. The fiscal 2013 payable balance includes $6,411 related to income taxes which is included in “Other liabilities” in the Company’s Consolidated Balance Sheet. In fiscal 2012, we recognized approximately $2,940 of cost related to the withdrawn initial public offering of D&B Entertainment common stock. The expenses related to this transaction were pushed down to the Company as the funds from the offering were to have been substantially used to reduce the Company’s senior notes. | |||||||||||||||||||||||||
Pre-opening costs | ' | ||||||||||||||||||||||||
Pre-opening costs —Pre-opening costs include costs associated with the opening and organizing of new stores, including the cost of feasibility studies, pre-opening rent, training and recruiting and travel costs for employees engaged in such pre-opening activities. All pre-opening costs are expensed as incurred. | |||||||||||||||||||||||||
Income taxes | ' | ||||||||||||||||||||||||
Income taxes — We are a member of a consolidated group that includes D&B Entertainment and we file consolidated returns with all our domestic subsidiaries. We use the asset/liability method for recording income taxes, which recognizes the amount of current and deferred taxes payable or refundable at the date of the financial statements as a result of all events that are recognized in the financial statements and as measured by the provisions of enacted tax laws. We also recognize liabilities for uncertain income tax positions for those items that meet the “more likely than not” threshold. | |||||||||||||||||||||||||
The calculation of tax liabilities involves significant judgment and evaluation of uncertainties in the interpretation of federal and state tax regulations. As a result, we have established accruals for taxes that may become payable in future years as a result of audits by tax authorities. Tax accruals are reviewed regularly pursuant to accounting guidance for uncertainty in income taxes. Tax accruals are adjusted as events occur that affect the potential liability for taxes such as the expiration of statutes of limitations, conclusion of tax audits, identification of additional exposure based on current calculations, identification of new issues, or the issuance of statutory or administrative guidance or rendering of a court decision affecting a particular issue. Accordingly, we may experience significant changes in tax accruals in the future, if or when such events occur. | |||||||||||||||||||||||||
As of February 2, 2014, we have accrued approximately $767 of unrecognized tax benefits, including approximately $291 of penalties and interest. During fiscal 2013, we recognized approximately $5 of tax benefits and an additional $1 of benefits related to penalties and interest based upon lapsing of time and settlement with taxing jurisdictions. Future recognition of potential interest or penalties, if any, will be recorded as a component of income tax expense. Because of the impact of deferred income tax accounting, $349 of unrecognized tax benefits, if recognized, would impact the effective tax rate. | |||||||||||||||||||||||||
Recent Accounting Pronouncements | ' | ||||||||||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||||||||||
Accounting Guidance Adopted— In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU’) No. 2012-02, “Intangibles-Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment”. The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment. It allows companies to perform a “qualitative” assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. This amendment is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. We review our intangible assets for impairment in our fourth quarter unless circumstances require this analysis to be completed sooner. The adoption of ASU No. 2012-02 did not have an impact on the Company’s financial position, results of operations or cash flows. | |||||||||||||||||||||||||
In February 2013, the FASB issued ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. This guidance requires the disclosure of significant amounts reclassified from each component of accumulated other comprehensive income and the income statement line items affected by the reclassification. ASU No. 2013-02 is effective for the Company prospectively for reporting periods beginning after December 15, 2012. The adoption of ASU No. 2013-02 did not have an impact on the Company’s financial position, results of operations or cash flows. | |||||||||||||||||||||||||
Accounting Guidance Not Yet Adopted— In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” This amendment requires an unrecognized tax benefit related to a net operating loss carryforward, a similar tax loss or a tax credit carryforward to be presented as a reduction to a deferred tax asset, unless the tax benefit is not available at the reporting date to settle any additional income taxes under the tax law of the applicable tax jurisdiction. The amendment is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. We do not expect the provisions of ASU No. 2013-11 to have a material effect on the Company’s financial position, results of operations or cash flows. |
Description_of_Business_and_Su2
Description of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||||||||||
Estimated Useful Lives of Assets | ' | ||||||||||||||||||||||||
Depreciation is charged to operations using the straight-line method over the assets’ estimated useful lives, which are as follows: | |||||||||||||||||||||||||
Estimated Depreciable | |||||||||||||||||||||||||
Lives (In Years) | |||||||||||||||||||||||||
Buildings and building improvements | Shorter of 40 or expected | ||||||||||||||||||||||||
ground lease term | |||||||||||||||||||||||||
Leasehold improvements | Shorter of 20 Or | ||||||||||||||||||||||||
expected lease term | |||||||||||||||||||||||||
Furniture, fixtures and equipment | 10-Mar | ||||||||||||||||||||||||
Games | 20-May | ||||||||||||||||||||||||
Deferred Financing Costs Relating to Other Assets | ' | ||||||||||||||||||||||||
The following table details amounts relating to those assets: | |||||||||||||||||||||||||
Fiscal Year ended | Fiscal Year ended | Fiscal Year ended | |||||||||||||||||||||||
February 2, 2014 | February 3, 2013 | January 29, 2012 | |||||||||||||||||||||||
Balance at beginning of period | $ | 7,959 | $ | 10,200 | $ | 11,312 | |||||||||||||||||||
Additional deferred financing costs | 726 | — | 968 | ||||||||||||||||||||||
Amortization during period | (2,234 | ) | (2,241 | ) | (2,080 | ) | |||||||||||||||||||
Balance at end of period | $ | 6,451 | $ | 7,959 | $ | 10,200 | |||||||||||||||||||
Significant Assumptions Used in Determining Underlying Fair Value of Weighted-Average Options Granted | ' | ||||||||||||||||||||||||
The significant assumptions used in determining the underlying fair value of the weighted-average options granted in fiscal 2013, 2012 and 2011 were as follows: | |||||||||||||||||||||||||
Fiscal 2013 | Fiscal 2012 | Fiscal 2011 | |||||||||||||||||||||||
Service | Performance | Service | Performance | Service | Performance | ||||||||||||||||||||
Based | Based | Based | Based | Based | Based | ||||||||||||||||||||
Volatility | 48.2 | % | 47 | % | 44.7 | % | 50 | % | 55 | % | 55 | % | |||||||||||||
Risk free interest rate | 1.15 | % | 1.06 | % | 0.78 | % | 0.33 | % | 1.46 | % | 1.47 | % | |||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||
Expected term – in years | 6.5 | 6.5 | 4.9 | 3 | 4 | 4 | |||||||||||||||||||
Weighted average calculated value | $ | 1,060.88 | $937.00 | $545.76 | $506.15 | $220.59 | $117.98 |
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||||||
Feb. 02, 2014 | |||||||||
Inventories | ' | ||||||||
Inventories consist of the following: | |||||||||
February 2, | February 3, | ||||||||
2014 | 2013 | ||||||||
Operating store—food and beverage | $ | 3,961 | $ | 3,581 | |||||
Operating store—amusement | 6,214 | 6,125 | |||||||
Corporate supplies, warehouse and other | 5,179 | 5,143 | |||||||
$ | 15,354 | $ | 14,849 | ||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Feb. 02, 2014 | |||||||||
Property and Equipment | ' | ||||||||
Property and equipment consist of the following: | |||||||||
February 2, | February 3, | ||||||||
2014 | 2013 | ||||||||
Buildings and building improvements | $ | 14,176 | $ | 13,919 | |||||
Leasehold improvements | 330,641 | 288,555 | |||||||
Furniture, fixtures and equipment | 117,194 | 93,693 | |||||||
Games | 88,310 | 73,094 | |||||||
Construction in progress | 33,111 | 7,435 | |||||||
Total cost | 583,432 | 476,696 | |||||||
Accumulated depreciation | (195,339 | ) | (139,457 | ) | |||||
Property and equipment, net | $ | 388,093 | $ | 337,239 | |||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||||
Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||||
Changes in the carrying amount of goodwill for the year ended February 2, 2014 and February 3, 2013 are as follows: | |||||||||||||||||||
Gross Amount | |||||||||||||||||||
Goodwill Balance at January 29, 2012 | $ | 272,286 | |||||||||||||||||
Foreign exchange differences | (8 | ) | |||||||||||||||||
Goodwill Balance at February 3, 2013 | 272,278 | ||||||||||||||||||
Foreign exchange differences | 150 | ||||||||||||||||||
Goodwill Balance at February 2, 2014 | $ | 272,428 | |||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||||
The following table presents our goodwill and intangible assets at February 2, 2014 and February 3, 2013: | |||||||||||||||||||
February 2, 2014 | February 3, 2013 | ||||||||||||||||||
Gross Carrying | Accumulated | Gross Carrying | Accumulated | ||||||||||||||||
Useful Lives | Amount | Amortization | Amount | Amortization | |||||||||||||||
Not subject to amortization: | |||||||||||||||||||
Goodwill | $ | 272,428 | $ | — | $ | 272,278 | $ | — | |||||||||||
Tradenames | 79,000 | — | 79,000 | — | |||||||||||||||
Total not subject to amortization | 351,428 | — | 351,278 | — | |||||||||||||||
Subject to amortization: | |||||||||||||||||||
Trademarks | 7 years | 8,500 | (4,471 | ) | 8,500 | (3,255 | ) | ||||||||||||
Customer relationships | 9 years | 1,700 | (694 | ) | 1,700 | (506 | ) | ||||||||||||
Non-compete agreements | 2 years | 500 | (500 | ) | 500 | (500 | ) | ||||||||||||
Total subject to amortization | 10,700 | (5,665 | ) | 10,700 | (4,261 | ) | |||||||||||||
Total goodwill and intangibles | $ | 362,128 | $ | (5,665 | ) | $ | 361,978 | $ | (4,261 | ) | |||||||||
Estimates of Amortization Expense Relating to Intangible Assets Subject to Amortization | ' | ||||||||||||||||||
Estimated amortization expense relating to intangible assets subject to amortization for each of the five succeeding years and beyond is as follows: | |||||||||||||||||||
Amortization | |||||||||||||||||||
Expense | |||||||||||||||||||
2014 | $ | 1,399 | |||||||||||||||||
2015 | 1,399 | ||||||||||||||||||
2016 | 1,399 | ||||||||||||||||||
2017 | 588 | ||||||||||||||||||
2018 | 188 | ||||||||||||||||||
Thereafter | 62 | ||||||||||||||||||
Total future amortization expense | $ | 5,035 | |||||||||||||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | ||||||||
Feb. 02, 2014 | |||||||||
Accrued Liabilities | ' | ||||||||
Accrued liabilities consist of the following: | |||||||||
February 2, 2014 | February 3, 2013 | ||||||||
Compensation and benefits | $ | 14,459 | $ | 15,205 | |||||
Deferred amusement revenue | 14,047 | 11,675 | |||||||
Amusement redemption liability | 9,707 | 7,144 | |||||||
Rent | 9,040 | 8,902 | |||||||
Deferred gift card revenue | 4,709 | 4,028 | |||||||
Sales and use taxes | 4,408 | 4,282 | |||||||
Interest | 4,214 | 4,242 | |||||||
Current portion of long-term insurance reserves | 3,358 | 3,000 | |||||||
Property taxes | 3,159 | 2,884 | |||||||
Other | 7,278 | 5,762 | |||||||
Total accrued liabilities | $ | 74,379 | $ | 67,124 | |||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||||||
Feb. 02, 2014 | |||||||||||||
Long-Term Debt | ' | ||||||||||||
Long-term debt consisted of the following: | |||||||||||||
February 2, 2014 | February 3, 2013 | ||||||||||||
Senior secured credit facility—term | $ | 144,375 | $ | 145,875 | |||||||||
Senior notes | 200,000 | 200,000 | |||||||||||
Total debt outstanding | 344,375 | 345,875 | |||||||||||
Unamortized debt discount | (550 | ) | (796 | ) | |||||||||
Less current installments | (1,500 | ) | (1,500 | ) | |||||||||
Long-term debt, less current installments, net of unamortized discount | $ | 342,325 | $ | 343,579 | |||||||||
Future Debt Payment Obligations | ' | ||||||||||||
Future debt obligations —The following table sets forth our future debt payment obligations (excluding repayment obligations under the revolving portion of our senior secured credit facility). | |||||||||||||
Debt Outstanding | |||||||||||||
as of February 2, | |||||||||||||
2014 | |||||||||||||
1 year or less | $ | 1,500 | |||||||||||
2 years | 1,500 | ||||||||||||
3 years | 141,375 | ||||||||||||
4 years | — | ||||||||||||
5 years | 200,000 | ||||||||||||
Thereafter | — | ||||||||||||
Total future payments | $ | 344,375 | |||||||||||
Recorded Interest Expense, Net | ' | ||||||||||||
The following table sets forth our recorded interest expense, net: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
February 2, | February 3, | January 29, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Debt-based interest expense | $ | 29,675 | $ | 31,393 | $ | 31,313 | |||||||
Amortization of issuance cost and discount | 2,572 | 2,528 | 2,329 | ||||||||||
Interest income | (334 | ) | (336 | ) | (367 | ) | |||||||
Less capitalized interest | (602 | ) | (510 | ) | (759 | ) | |||||||
Total interest expense, net | $ | 31,311 | $ | 33,075 | $ | 32,516 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Feb. 02, 2014 | |||||||||||||
Provision (Benefit) for Income Taxes | ' | ||||||||||||
The provision (benefit) for income taxes is as follows: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
February 2, | February 3, | January 29, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Current expense | |||||||||||||
Federal | $ | 3,531 | $ | 2,845 | $ | — | |||||||
Foreign | 97 | 361 | (175 | ) | |||||||||
State and local | 1,755 | 331 | 583 | ||||||||||
Deferred expense (benefit) | 1,849 | (10,895 | ) | 271 | |||||||||
Total provision (benefit) for income taxes | $ | 7,232 | $ | (7,358 | ) | $ | 679 | ||||||
Components of Deferred Tax Liabilities and Assets | ' | ||||||||||||
Significant components of the deferred tax liabilities and assets in the consolidated balance sheets are as follows: | |||||||||||||
February 2, | February 3, | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Trademark/trade name | $ | 31,578 | $ | 31,928 | |||||||||
Property and equipment | 4,102 | 963 | |||||||||||
Prepaid expenses | 232 | 189 | |||||||||||
Total deferred tax liabilities | 35,912 | 33,080 | |||||||||||
Deferred tax assets: | |||||||||||||
Deferred revenue and ticket redemption | 9,540 | 7,252 | |||||||||||
Leasing transactions | 5,585 | 3,838 | |||||||||||
State net operating loss carryovers | 3,495 | 3,444 | |||||||||||
Workers’ compensation and general liability insurance | 3,429 | 3,666 | |||||||||||
Accrued liabilities | 1,985 | 2,770 | |||||||||||
Deferred compensation | 1,610 | 1,140 | |||||||||||
Tax credit carryovers | 719 | 3,227 | |||||||||||
Smallware supplies | 714 | 713 | |||||||||||
Indirect benefit of unrecognized tax benefits | 225 | 216 | |||||||||||
Other | 1,568 | 1,391 | |||||||||||
Total deferred tax assets | 28,870 | 27,657 | |||||||||||
Valuation allowance for deferred tax assets – US | (1,388 | ) | (1,158 | ) | |||||||||
Total deferred tax assets net of valuation allowance | 27,482 | 26,499 | |||||||||||
Net deferred tax liability | $ | 8,430 | $ | 6,581 | |||||||||
Net Deferred Tax Liability | ' | ||||||||||||
The Net deferred tax liability is presented in the Consolidated Balance Sheets as follows: | |||||||||||||
February 2, | February 3, | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred income taxes—current | $ | 15,985 | $ | 18,209 | |||||||||
Other assets and deferred charge | — | 286 | |||||||||||
Total deferred tax assets | 15,985 | 18,495 | |||||||||||
Deferred income taxes—current | — | 189 | |||||||||||
Deferred income taxes | 24,415 | 24,887 | |||||||||||
Total deferred tax liabilities | 24,415 | 25,076 | |||||||||||
Net deferred tax liability | $ | 8,430 | $ | 6,581 | |||||||||
Change in Unrecognized Tax Benefits | ' | ||||||||||||
The change in unrecognized tax benefits excluding interest, penalties and related income tax benefits were as follows: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
February 2, | February 3, | January 29, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Balance at beginning of year | $ | 471 | $ | 940 | $ | 881 | |||||||
Additions for tax positions of prior years | 176 | 108 | 118 | ||||||||||
Reductions for tax positions of prior years | (32 | ) | (1 | ) | — | ||||||||
Settlements | — | (576 | ) | — | |||||||||
Lapse of statute of limitations | (139 | ) | — | (59 | ) | ||||||||
Balance at end of year | $ | 476 | $ | 471 | $ | 940 | |||||||
Reconciliation of Federal Statutory Rate to Effective Income Tax Rate | ' | ||||||||||||
The reconciliation of the federal statutory rate to the effective income tax rate follows: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
February 2, | February 3, | January 29, | |||||||||||
2014 | 2013 | 2012 | |||||||||||
Federal corporate statutory rate | 35 | % | 35 | % | 35 | % | |||||||
State and local income taxes, net of federal income tax benefit | 7 | % | 1.9 | % | (8.6 | )% | |||||||
Foreign taxes | 1.3 | % | (0.3 | )% | (7.9 | )% | |||||||
Nondeductible expenses | 4.1 | % | 8.7 | % | 46.6 | % | |||||||
Tax credits | (12.3 | )% | (24.2 | )% | (132.4 | )% | |||||||
Valuation allowance | 1.2 | % | (94.8 | )% | 51.5 | % | |||||||
Change in reserve | — | % | (12.1 | )% | 13.8 | % | |||||||
Other | 0.3 | % | 16.7 | % | 43.6 | % | |||||||
Effective tax rate | 36.6 | % | (69.1 | )% | 41.6 | % | |||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||||||||||||
Future Minimum Lease Payments | ' | ||||||||||||||||||||||||||
At February 2, 2014 future minimum lease payments, including any periods covered by renewal options we are reasonably assured of exercising (including the sale/leaseback transactions described below), are: | |||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
$ | 57,024 | $ | 56,068 | $ | 54,947 | $ | 53,125 | $ | 49,603 | $ | 284,780 | $ | 555,547 | ||||||||||||||
Future Minimum Principal and Interest Payments | ' | ||||||||||||||||||||||||||
Future minimum principal and interest payments due to us under these notes are as follows: | |||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
$ | 489 | $ | 489 | $ | 489 | $ | 489 | $ | 489 | $ | 1,424 | $ | 3,869 | ||||||||||||||
Equipment | ' | ||||||||||||||||||||||||||
Future Minimum Lease Payments | ' | ||||||||||||||||||||||||||
At February 2, 2014, we also had lease commitments on equipment as follows: | |||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
$ | 797 | $ | 606 | $ | 167 | $ | 14 | $ | — | $ | — | $ | 1,584 |
Common_Stock_Tables
Common Stock (Tables) | 12 Months Ended | ||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||
Transactions Related to Stock Options | ' | ||||||||||||||||
Transactions during fiscal year 2013 under the 2010 D&B Entertainment Incentive Plan were as follows: | |||||||||||||||||
Service based options | Performance based options | ||||||||||||||||
Weighted | Weighted | ||||||||||||||||
Number | Average | Number | Average | ||||||||||||||
of Options | Exercise Price | of Options | Exercise Price | ||||||||||||||
Options outstanding at beginning of year | 4,966 | $ | 1,056 | 12,162 | $ | 1,015 | |||||||||||
Granted | 1,012 | 1,963 | 75 | 2,233 | |||||||||||||
Exercised | (44 | ) | 1,000 | (36 | ) | 1,000 | |||||||||||
Forfeited | (141 | ) | 1,135 | (241 | ) | 1,000 | |||||||||||
Options outstanding at end of year | 5,793 | 1,213 | 11,960 | 1,023 | |||||||||||||
Options exercisable at end of year | 2,620 | $ | 1,060 | 3,333 | $ | 1,046 | |||||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 12 Months Ended | ||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||
Condensed Consolidating Financial Information | ' | ||||||||||||||||
February 2, 2014: | |||||||||||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, | ||||||||||||||
Guarantors | Guarantors | Inc. | |||||||||||||||
Assets: | |||||||||||||||||
Current assets | $ | 89,095 | $ | 1,381 | $ | — | $ | 90,476 | |||||||||
Property and equipment, net (Note 4) | 383,409 | 4,684 | — | 388,093 | |||||||||||||
Tradenames (Note 5) | 79,000 | — | — | 79,000 | |||||||||||||
Goodwill (Note 5) | 273,725 | (1,297 | ) | — | 272,428 | ||||||||||||
Investment in sub | 3,303 | — | (3,303 | ) | — | ||||||||||||
Other assets and deferred charges | 21,319 | 70 | — | 21,389 | |||||||||||||
Total assets | $ | 849,851 | $ | 4,838 | $ | (3,303 | ) | $ | 851,386 | ||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, | ||||||||||||||
Guarantors | Guarantors | Inc. | |||||||||||||||
Liabilities and stockholder’s equity: | |||||||||||||||||
Current liabilities | $ | 111,279 | $ | 1,765 | $ | — | $ | 113,044 | |||||||||
Deferred income taxes | 24,766 | (351 | ) | — | 24,415 | ||||||||||||
Deferred occupancy costs | 81,622 | 121 | — | 81,743 | |||||||||||||
Other liabilities | 15,599 | — | — | 15,599 | |||||||||||||
Long-term debt, less current installments, net of unamortized discount (Note 7) | 342,325 | — | — | 342,325 | |||||||||||||
Stockholder’s equity | 274,260 | 3,303 | (3,303 | ) | 274,260 | ||||||||||||
Total liabilities and stockholder’s equity | $ | 849,851 | $ | 4,838 | $ | (3,303 | ) | $ | 851,386 | ||||||||
February 3, 2013: | |||||||||||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, | ||||||||||||||
Guarantors | Guarantors | Inc. | |||||||||||||||
Assets: | |||||||||||||||||
Current assets | $ | 85,696 | $ | 6,122 | $ | — | $ | 91,818 | |||||||||
Property and equipment, net (Note 4) | 333,018 | 4,221 | — | 337,239 | |||||||||||||
Tradenames (Note 5) | 79,000 | — | — | 79,000 | |||||||||||||
Goodwill (Note 5) | 273,725 | (1,447 | ) | — | 272,278 | ||||||||||||
Investment in sub | 4,215 | — | (4,215 | ) | — | ||||||||||||
Other assets and deferred charges | 23,854 | 364 | — | 24,218 | |||||||||||||
Total assets | $ | 799,508 | $ | 9,260 | $ | (4,215 | ) | $ | 804,553 | ||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, | ||||||||||||||
Guarantors | Guarantors | Inc. | |||||||||||||||
Liabilities and stockholder’s equity: | |||||||||||||||||
Current liabilities | $ | 87,936 | $ | 4,947 | $ | — | $ | 92,883 | |||||||||
Deferred income taxes | 24,887 | — | — | 24,887 | |||||||||||||
Deferred occupancy costs | 69,446 | 98 | — | 69,544 | |||||||||||||
Other liabilities | 12,684 | — | — | 12,684 | |||||||||||||
Long-term debt, less current installments, net of unamortized discount (Note 7) | 343,579 | — | — | 343,579 | |||||||||||||
Stockholder’s equity | 260,976 | 4,215 | (4,215 | ) | 260,976 | ||||||||||||
Total liabilities and stockholder’s equity | $ | 799,508 | $ | 9,260 | $ | (4,215 | ) | $ | 804,553 | ||||||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||||||
Feb. 02, 2014 | |||||||||||||||||
Quarterly Financial Information | ' | ||||||||||||||||
Fiscal Year Ended February 2, 2014 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
5/5/13 | 8/4/13 | 11/3/13 | 2/2/14 | ||||||||||||||
Total revenues | $ | 168,155 | $ | 153,723 | $ | 142,330 | $ | 171,371 | |||||||||
Income (loss) before provision (benefit) for income taxes | 14,523 | 3,232 | (8,679 | ) | 10,652 | ||||||||||||
Net income (loss) | 10,029 | 2,386 | (6,743 | ) | 6,824 | ||||||||||||
Fiscal Year Ended February 3, 2013 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
4/29/12 | 7/29/12 | 10/28/12 | 2/3/2013 (1) | ||||||||||||||
Total revenues | $ | 163,474 | $ | 147,941 | $ | 131,066 | $ | 165,586 | |||||||||
Income (loss) before provision (benefit) for income taxes | 14,725 | 315 | (10,541 | ) | 6,140 | ||||||||||||
Net income (loss) | 10,984 | 687 | (1,621 | ) | 7,947 | ||||||||||||
-1 | Our fiscal 2012 year consisted of 53 weeks. Each quarterly period has 13 weeks, except the fourth quarterly period ended February 3, 2013, which consists of 14 weeks. We have estimated the revenues during the 53rd week of fiscal 2012 to be $10,355. |
Description_of_Business_and_Su3
Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Person | Person | Person | |
Segment | |||
Location | |||
Number of locations | 66 | ' | ' |
Number of operating segments | 1 | ' | ' |
Number of reportable segments | 1 | ' | ' |
Long lived asset impairment loss | $0 | $0 | $200 |
Unrealized foreign currency translation gain (loss) | -419 | 15 | 42 |
Advertising costs expensed | 27,475 | 28,502 | 26,612 |
Number of board members who received advisor fee | 2 | 2 | 2 |
Net payable from related party | 6,907 | 3,349 | ' |
Cost of initial public offering | ' | 2,940 | ' |
Unrecognized tax benefits | 767 | ' | ' |
Tax penalties and interest | 291 | 290 | ' |
Tax benefits recognized to penalties and interest | 5 | ' | ' |
Tax benefits recognized to penalties and interest | 1 | ' | ' |
Unrecognized tax benefits if recognized, would impact the effective tax rate | 349 | ' | ' |
Oak Hill Capital Management, LLC | ' | ' | ' |
Related party expenses incurred under expense reimbursement agreement | 722 | 799 | 860 |
Oak Hill Capital Management, LLC | Acquisition-related Costs | ' | ' | ' |
Related party expenses | 201 | 361 | 522 |
Board Members | Consulting Fee | ' | ' | ' |
Related party expenses | 235 | 235 | 0 |
Income Taxes Payable | ' | ' | ' |
Income tax payable, related party | 6,411 | ' | ' |
UNITED STATES | ' | ' | ' |
Valuation allowance for deferred tax assets | 1,388 | 1,158 | ' |
Construction | ' | ' | ' |
Construction allowance receivables | $5,677 | $8,893 | ' |
Estimated_Useful_Lives_of_Asse
Estimated Useful Lives of Assets (Detail) | 12 Months Ended |
Feb. 02, 2014 | |
Buildings and building improvements | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated Depreciable Lives (In Years), description | 'Shorter of 40 or expected ground lease term |
Buildings and building improvements | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated Depreciable Lives (In Years) | '40 years |
Leasehold improvements | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated Depreciable Lives (In Years), description | 'Shorter of 20 Or expected lease term |
Leasehold improvements | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated Depreciable Lives (In Years) | '20 years |
Furniture, fixtures and equipment | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated Depreciable Lives (In Years) | '10 years |
Furniture, fixtures and equipment | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated Depreciable Lives (In Years) | '3 years |
Games | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated Depreciable Lives (In Years) | '20 years |
Games | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated Depreciable Lives (In Years) | '5 years |
Deferred_Financing_Costs_Relat
Deferred Financing Costs Relating to Other Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Deferred Costs, Capitalized and Other Assets Disclosure [Line Items] | ' | ' | ' |
Balance at beginning of period | $7,959 | $10,200 | $11,312 |
Additional deferred financing costs | 726 | ' | 968 |
Amortization during period | -2,234 | -2,241 | -2,080 |
Balance at end of period | $6,451 | $7,959 | $10,200 |
Significant_Assumptions_Used_i
Significant Assumptions Used in Determining Underlying Fair Value of Weighted-Average Options Granted (Detail) (USD $) | 12 Months Ended | ||
Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted average calculated value | $1,052 | ' | ' |
Service Based Stock Options | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Volatility | 48.20% | 44.70% | 55.00% |
Risk free interest rate | 1.15% | 0.78% | 1.46% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected term - in years | '6 years 6 months | '4 years 10 months 24 days | '4 years |
Weighted average calculated value | $1,060.88 | $545.76 | $220.59 |
Performance Based Stock Options | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Volatility | 47.00% | 50.00% | 55.00% |
Risk free interest rate | 1.06% | 0.33% | 1.47% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected term - in years | '6 years 6 months | '3 years | '4 years |
Weighted average calculated value | $937 | $506.15 | $117.98 |
Casualty_loss_Additional_Infor
Casualty loss - Additional Information (Detail) (USD $) | 12 Months Ended | 8 Months Ended | 12 Months Ended | ||||||||
Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 | 2-May-10 | Jan. 30, 2011 | Jan. 29, 2012 | Jan. 29, 2012 | Jan. 29, 2012 | Jan. 29, 2012 | Jan. 29, 2012 | Jan. 29, 2012 | |
Casualty Related Receivables | Casualty Related Receivables | Insurance carrier | Property And Equipment | Inventory | Pre-Opening Costs | Remediation Expenses and Other Costs | |||||
Casualty Related Receivables | Casualty Related Receivables | Casualty Related Receivables | Casualty Related Receivables | ||||||||
Business Interruption Loss [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and business interruption insurance | ' | ' | ' | $25,000,000 | ' | ' | ' | ' | ' | ' | ' |
Property and business interruption insurance deductible | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' |
Recovery of business Interruption | 199,537,000 | 192,792,000 | 175,993,000 | ' | ' | ' | 3,215,000 | ' | ' | ' | ' |
Insurance received | ' | ' | -1,629,000 | ' | 1,629,000 | 2,414,000 | ' | 798,000 | 156,000 | 778,000 | 682,000 |
Fair value of delivered assets by the landlord | ' | ' | 2,443,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain recorded in other store operating expenses | ' | ' | $955,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Inventories_Detail
Inventories (Detail) (USD $) | Feb. 02, 2014 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Inventory [Line Items] | ' | ' |
Inventory | $15,354 | $14,849 |
Operating Store-Food and Beverage | ' | ' |
Inventory [Line Items] | ' | ' |
Inventory | 3,961 | 3,581 |
Operating Store-Amusement | ' | ' |
Inventory [Line Items] | ' | ' |
Inventory | 6,214 | 6,125 |
Corporate Supplies, Warehouse and Other | ' | ' |
Inventory [Line Items] | ' | ' |
Inventory | $5,179 | $5,143 |
Property_and_Equipment_Detail
Property and Equipment (Detail) (USD $) | Feb. 02, 2014 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $583,432 | $476,696 |
Accumulated depreciation | -195,339 | -139,457 |
Property and equipment, net | 388,093 | 337,239 |
Buildings and building improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 14,176 | 13,919 |
Leasehold improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 330,641 | 288,555 |
Furniture, fixtures and equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 117,194 | 93,693 |
Games | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 88,310 | 73,094 |
Construction in progress | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $33,111 | $7,435 |
Property_and_Equipment_Capital
Property and Equipment Capitalized and Depreciated - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Capitalized interest cost | $602 | $510 | $759 |
Depreciation expense | $64,933 | $61,957 | $52,623 |
Changes_in_Carrying_Amount_of_
Changes in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 |
Goodwill [Line Items] | ' | ' |
Beginning Balance | $272,278 | $272,286 |
Foreign exchange differences | 150 | -8 |
Ending Balance | $272,428 | $272,278 |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Useful Lives | '3 years 8 months 12 days | ' | ' |
Goodwill | $272,428 | $272,278 | $272,286 |
Tradenames | 79,000 | 79,000 | ' |
Total goodwill and intangibles | 362,128 | 361,978 | ' |
Accumulated Amortization | -5,665 | -4,261 | ' |
Indefinite-lived Intangible Assets | ' | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Total goodwill and intangibles | 351,428 | 351,278 | ' |
Trademarks | ' | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Useful Lives | '7 years | ' | ' |
Gross Carrying Amount | 8,500 | 8,500 | ' |
Accumulated Amortization | -4,471 | -3,255 | ' |
Customer relationships | ' | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Useful Lives | '9 years | ' | ' |
Gross Carrying Amount | 1,700 | 1,700 | ' |
Accumulated Amortization | -694 | -506 | ' |
Non-compete agreements | ' | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Useful Lives | '2 years | ' | ' |
Gross Carrying Amount | 500 | 500 | ' |
Accumulated Amortization | -500 | -500 | ' |
Finite lived intangible assets subject to amortization | ' | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Total goodwill and intangibles | $10,700 | $10,700 | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Remaining weighted-average amortization period for intangibles subject to amortization | '3 years 8 months 12 days | ' | ' |
Amortization expense | $1,404 | $1,500 | $1,654 |
Estimated_Amortization_Expense
Estimated Amortization Expense Relating to Intangible Assets Subject to Amortization (Detail) (USD $) | Feb. 02, 2014 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets [Line Items] | ' |
2014 | $1,399 |
2015 | 1,399 |
2016 | 1,399 |
2017 | 588 |
2018 | 188 |
Thereafter | 62 |
Total future amortization expense | $5,035 |
Accrued_Liabilities_Detail
Accrued Liabilities (Detail) (USD $) | Feb. 02, 2014 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities, Current [Abstract] | ' | ' |
Compensation and benefits | $14,459 | $15,205 |
Deferred amusement revenue | 14,047 | 11,675 |
Amusement redemption liability | 9,707 | 7,144 |
Rent | 9,040 | 8,902 |
Deferred gift card revenue | 4,709 | 4,028 |
Sales and use taxes | 4,408 | 4,282 |
Interest | 4,214 | 4,242 |
Current portion of long-term insurance reserves | 3,358 | 3,000 |
Property taxes | 3,159 | 2,884 |
Other | 7,278 | 5,762 |
Total accrued liabilities | $74,379 | $67,124 |
Long_Term_Debt_Detail
Long Term Debt (Detail) (USD $) | Feb. 02, 2014 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Debt outstanding | $344,375 | $345,875 |
Unamortized debt discount | -550 | -796 |
Less current installments | -1,500 | -1,500 |
Long-term debt, less current installments, net of unamortized discount | 342,325 | 343,579 |
Secured Debt | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt outstanding | 144,375 | 145,875 |
Senior Notes | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt outstanding | $200,000 | $200,000 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Feb. 02, 2014 | Feb. 02, 2014 | Feb. 02, 2014 | 14-May-13 | 14-May-13 | Jun. 01, 2010 | Feb. 02, 2014 | Feb. 02, 2014 | Feb. 02, 2014 | Feb. 02, 2014 | Feb. 02, 2014 |
Minimum | Maximum | Senior Notes | Second Amendment | Second Amendment | Secured Debt | Secured Debt | Revolving credit facility | Domestic Line of Credit | Foreign Line of Credit | Swingline sub-facility | |||
Scenario 1 | Scenario 2 | lender | |||||||||||
Minimum | Maximum | ||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior secured credit facility | ' | ' | ' | ' | ' | ' | ' | ' | $150,000 | $50,000 | $20,000 | $1,000 | $5,000 |
Maturity Date | ' | ' | ' | ' | 1-Jun-18 | ' | ' | ' | 1-Jun-16 | 1-Jun-15 | ' | ' | ' |
Proceeds from term loan facility | ' | ' | ' | ' | ' | ' | ' | 148,500 | ' | ' | ' | ' | ' |
Debt issuance discount cost | 550 | 796 | ' | ' | ' | ' | ' | 1,500 | ' | ' | ' | ' | ' |
Credit facility outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Letters of credit outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,670 | ' | ' |
Credit facility, current borrowing | 144,375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, current borrowing, net of discount | 143,825 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | ' | ' | ' | ' |
Fixed charge coverage ratio | ' | ' | 115.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Leverage ratio | ' | ' | ' | 400.00% | ' | 275.00% | 275.00% | ' | 255.00% | ' | ' | ' | ' |
Required fixed charge coverage ratio | ' | ' | 130.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Required leverage ratio | ' | ' | ' | 325.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding letter of credit above which the company is required to maintain financial ratios | 12,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of creditors for senior secured credit facility | ' | ' | ' | ' | ' | ' | ' | ' | 22 | ' | ' | ' | ' |
Percentage of term loan held by Oak Hill Advisors, L.P. | ' | ' | ' | ' | ' | ' | ' | ' | 9.97% | ' | ' | ' | ' |
Term loan held by Oak Hill Advisors, L.P. | ' | ' | ' | ' | ' | ' | ' | ' | 14,394 | ' | ' | ' | ' |
Interest Rate | ' | ' | ' | ' | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Frequency of interest payments - Senior Notes | ' | ' | ' | ' | 'Semi-annually | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price of notes as percentage of principal amount | ' | ' | 100.00% | 105.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption date of notes | 1-Jun-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes fair value | ' | ' | ' | ' | $214,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated coverage ratio | ' | ' | ' | ' | 200.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Future_Debt_Payment_Obligation
Future Debt Payment Obligations (Detail) (USD $) | Feb. 02, 2014 |
In Thousands, unless otherwise specified | |
Debt Instrument [Line Items] | ' |
1 year or less | $1,500 |
2 years | 1,500 |
3 years | 141,375 |
4 years | ' |
5 years | 200,000 |
Thereafter | ' |
Total future payments | $344,375 |
Recorded_Interest_Expense_Net_
Recorded Interest Expense, Net (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Debt Instrument [Line Items] | ' | ' | ' |
Debt-based interest expense | $29,675 | $31,393 | $31,313 |
Amortization of issuance cost and discount | 2,572 | 2,528 | 2,329 |
Interest income | -334 | -336 | -367 |
Less capitalized interest | -602 | -510 | -759 |
Total interest expense, net | $31,311 | $33,075 | $32,516 |
Provision_Benefit_for_Income_T
Provision (Benefit) for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Current expense | ' | ' | ' |
Federal | $3,531 | $2,845 | ' |
Foreign | 97 | 361 | -175 |
State and local | 1,755 | 331 | 583 |
Deferred expense (benefit) | 1,849 | -10,895 | 271 |
Total provision (benefit) for income taxes | $7,232 | ($7,358) | $679 |
Significant_Components_of_Defe
Significant Components of Deferred Tax Liabilities and Assets (Detail) (USD $) | Feb. 02, 2014 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax liabilities: | ' | ' |
Trademark/trade name | $31,578 | $31,928 |
Property and equipment | 4,102 | 963 |
Prepaid expenses | 232 | 189 |
Total deferred tax liabilities | 35,912 | 33,080 |
Deferred tax assets: | ' | ' |
Deferred revenue and ticket redemption | 9,540 | 7,252 |
Leasing transactions | 5,585 | 3,838 |
State net operating loss carryovers | 3,495 | 3,444 |
Workers' compensation and general liability insurance | 3,429 | 3,666 |
Accrued liabilities | 1,985 | 2,770 |
Deferred compensation | 1,610 | 1,140 |
Tax credit carryovers | 719 | 3,227 |
Smallware supplies | 714 | 713 |
Indirect benefit of unrecognized tax benefits | 225 | 216 |
Other | 1,568 | 1,391 |
Total deferred tax assets | 28,870 | 27,657 |
Total deferred tax assets net of valuation allowance | 27,482 | 26,499 |
Net deferred tax liability | 8,430 | 6,581 |
UNITED STATES | ' | ' |
Deferred tax assets: | ' | ' |
Valuation allowance for deferred tax assets | ($1,388) | ($1,158) |
Net_Deferred_Tax_Liability_Det
Net Deferred Tax Liability (Detail) (USD $) | Feb. 02, 2014 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Reconciliation of Net Deferred Tax Liability [Line Items] | ' | ' |
Deferred income taxes-current | $15,985 | $18,209 |
Other assets and deferred charge | ' | 286 |
Total deferred tax assets | 15,985 | 18,495 |
Deferred income taxes-current | ' | 189 |
Deferred income taxes | 24,415 | 24,887 |
Total deferred tax liabilities | 24,415 | 25,076 |
Net deferred tax liability | $8,430 | $6,581 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Income Tax [Line Items] | ' | ' | ' |
AMT credit carryovers | $670 | ' | ' |
Carryforward period, AMT credits | 'Indefinite | ' | ' |
State net operating loss carry forward period | '20 years | ' | ' |
Beginning year for state net operating loss carry forward expiry | '2022 | ' | ' |
State net operating loss carry forwards, valuation allowance | 1,200 | ' | ' |
State and local tax expense | 1,755 | 331 | 583 |
Unrecognized tax benefits will be settled through federal and state audits or will be recognized as a result of the expiration of statute of limitations | -46 | ' | ' |
Unrecognized tax benefits, if recognized, would affect the effective tax rate | 349 | ' | ' |
Accrued interest and penalties on unrecognized tax benefits | 291 | 290 | ' |
TEXAS | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
State and local tax expense | 246 | 269 | 228 |
UNITED STATES | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Valuation allowance against deferred tax assets | 1,388 | 1,158 | ' |
State and Local Jurisdiction | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Change in valuation allowance | $230 | ' | ' |
Change_in_Unrecognized_Tax_Ben
Change in Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Income Tax Contingency [Line Items] | ' | ' | ' |
Balance at beginning of year | $471 | $940 | $881 |
Additions for tax positions of prior years | 176 | 108 | 118 |
Reductions for tax positions of prior years | -32 | -1 | ' |
Settlements | ' | -576 | ' |
Lapse of statute of limitations | -139 | ' | -59 |
Balance at end of year | $476 | $471 | $940 |
Reconciliation_of_Federal_Stat
Reconciliation of Federal Statutory Rate to Effective Income Tax Rate (Detail) | 12 Months Ended | ||
Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 | |
Income Taxes [Line Items] | ' | ' | ' |
Federal corporate statutory rate | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal income tax benefit | 7.00% | 1.90% | -8.60% |
Foreign taxes | 1.30% | -0.30% | -7.90% |
Nondeductible expenses | 4.10% | 8.70% | 46.60% |
Tax credits | -12.30% | -24.20% | -132.40% |
Valuation allowance | 1.20% | -94.80% | 51.50% |
Change in reserve | ' | -12.10% | 13.80% |
Other | 0.30% | 16.70% | 43.60% |
Effective tax rate | 36.60% | -69.10% | 41.60% |
Leases_Additional_Information_
Leases - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 | Feb. 02, 2001 | Apr. 11, 2014 | Feb. 02, 2014 | Feb. 02, 2014 |
Subsequent Event | Minimum | Maximum | |||||
Leases Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Rent expense for operating leases | $54,450 | $50,561 | $47,342 | ' | ' | ' | ' |
Contingent rentals | 2,858 | 2,620 | 2,310 | ' | ' | ' | ' |
Operating leases future minimum payments due | 555,547 | ' | ' | ' | 38,000 | ' | ' |
Completed sale/leaseback cash proceed | ' | ' | ' | 24,774 | ' | ' | ' |
Notes receivable due from the lessors | $2,936 | $3,201 | ' | $6,750 | ' | ' | ' |
Interest rate on notes | ' | ' | ' | ' | ' | 7.00% | 7.50% |
Future_Minimum_Lease_Payments_
Future Minimum Lease Payments (Detail) (USD $) | Feb. 02, 2014 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | ' |
2014 | $57,024 |
2015 | 56,068 |
2016 | 54,947 |
2017 | 53,125 |
2018 | 49,603 |
Thereafter | 284,780 |
Total | $555,547 |
Lease_Commitments_on_Equipment
Lease Commitments on Equipment (Detail) (USD $) | Feb. 02, 2014 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | ' |
2014 | $57,024 |
2015 | 56,068 |
2016 | 54,947 |
2017 | 53,125 |
2018 | 49,603 |
Thereafter | 284,780 |
Total | 555,547 |
Operating Lease Amendment | ' |
Operating Leased Assets [Line Items] | ' |
2014 | 797 |
2015 | 606 |
2016 | 167 |
2017 | 14 |
Thereafter | ' |
Total | $1,584 |
Future_Minimum_Principal_and_I
Future Minimum Principal and Interest Payments Due to Us (Detail) (USD $) | Feb. 02, 2014 |
In Thousands, unless otherwise specified | |
Sale Leaseback Transaction [Line Items] | ' |
2014 | $489 |
2015 | 489 |
2016 | 489 |
2017 | 489 |
2018 | 489 |
Thereafter | 1,424 |
Total | $3,869 |
Common_Stock_Additional_Inform
Common Stock - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 | Jan. 06, 2014 | Feb. 02, 2014 | Feb. 02, 2014 | Feb. 02, 2014 |
Dave and Buster's Entertainment, Inc. | Oak Hill | Management | Former Management Member | ||||
Common Stock Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Expiration period of Incentive plan | '10 years | ' | ' | ' | ' | ' | ' |
Vesting Period | '5 years | ' | ' | ' | ' | ' | ' |
Share-based compensation expense related to stock option | $1,207 | $1,099 | $1,038 | ' | ' | ' | ' |
Unrecognized expense related to stock option plan | $1,504 | ' | ' | ' | ' | ' | ' |
Unrecognized expense, weighted average years | '1 year 7 months 6 days | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value per option granted | $1,052 | ' | ' | ' | ' | ' | ' |
Average remaining term for all options outstanding | '6 years 7 months 6 days | ' | ' | ' | ' | ' | ' |
Number of stock options exercised | ' | ' | ' | 80 | ' | ' | ' |
Strike price of stock options exercised | ' | ' | ' | $1,000 | ' | ' | ' |
Ownership percentage by parent | ' | ' | ' | ' | 95.40% | ' | ' |
Ownership percentage by noncontrolling owners | ' | ' | ' | ' | ' | 4.50% | 0.10% |
Transactions_Related_to_Stock_
Transactions Related to Stock Options (Detail) (USD $) | 12 Months Ended |
Feb. 02, 2014 | |
Service Based Stock Options | ' |
Number of Options | ' |
Options outstanding at beginning of year | 4,966 |
Granted | 1,012 |
Exercised | -44 |
Forfeited | -141 |
Options outstanding at end of year | 5,793 |
Options exercisable at end of year | 2,620 |
Weighted Average Exercise Price | ' |
Options outstanding at beginning of year | $1,056 |
Granted | $1,963 |
Exercised | $1,000 |
Forfeited | $1,135 |
Options outstanding at end of year | $1,213 |
Options exercisable at end of year | $1,060 |
Performance Based Stock Options | ' |
Number of Options | ' |
Options outstanding at beginning of year | 12,162 |
Granted | 75 |
Exercised | -36 |
Forfeited | -241 |
Options outstanding at end of year | 11,960 |
Options exercisable at end of year | 3,333 |
Weighted Average Exercise Price | ' |
Options outstanding at beginning of year | $1,015 |
Granted | $2,233 |
Exercised | $1,000 |
Forfeited | $1,000 |
Options outstanding at end of year | $1,023 |
Options exercisable at end of year | $1,046 |
Employee_Benefit_Plan_Addition
Employee Benefit Plan - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage of maximum employee eligible compensation on pretax basis that can be contributed | 50.00% | ' | ' |
Expenses related to contributions to the 401k plan | $370 | $382 | $273 |
Minimum | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contributions range | 0.00% | ' | ' |
Maximum | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contributions range | 100.00% | ' | ' |
Maximum eligibility of employee compensation | 6.00% | ' | ' |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Result of operation | $51,039 | $43,714 | $34,150 |
Cash flow from operating activities | 109,958 | 82,796 | 73,247 |
Subsidiary Non-Guarantors | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Result of operation | -493 | 249 | ' |
Cash flow from operating activities | ($4,270) | $3,474 | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Detail) (USD $) | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 | Jan. 30, 2011 |
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ' | ' |
Current assets | $90,476 | $91,818 | ' | ' |
Property and equipment, net (Note 4) | 388,093 | 337,239 | ' | ' |
Tradenames (Note 5) | 79,000 | 79,000 | ' | ' |
Goodwill (Note 5) | 272,428 | 272,278 | 272,286 | ' |
Other assets and deferred charges | 21,389 | 24,218 | ' | ' |
Total assets | 851,386 | 804,553 | ' | ' |
Liabilities and stockholder's equity: | ' | ' | ' | ' |
Current liabilities | 113,044 | 92,883 | ' | ' |
Deferred income taxes | 24,415 | 24,887 | ' | ' |
Deferred occupancy costs | 81,743 | 69,544 | ' | ' |
Other liabilities | 15,599 | 12,684 | ' | ' |
Long-term debt, less current installments, net of unamortized discount (Note 7) | 342,325 | 343,579 | ' | ' |
Stockholder's equity | 274,260 | 260,976 | 241,865 | 239,830 |
Total liabilities and stockholder's equity | 851,386 | 804,553 | ' | ' |
Issuer and Subsidiary Guarantors | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Current assets | 89,095 | 85,696 | ' | ' |
Property and equipment, net (Note 4) | 383,409 | 333,018 | ' | ' |
Tradenames (Note 5) | 79,000 | 79,000 | ' | ' |
Goodwill (Note 5) | 273,725 | 273,725 | ' | ' |
Investment in sub | 3,303 | 4,215 | ' | ' |
Other assets and deferred charges | 21,319 | 23,854 | ' | ' |
Total assets | 849,851 | 799,508 | ' | ' |
Liabilities and stockholder's equity: | ' | ' | ' | ' |
Current liabilities | 111,279 | 87,936 | ' | ' |
Deferred income taxes | 24,766 | 24,887 | ' | ' |
Deferred occupancy costs | 81,622 | 69,446 | ' | ' |
Other liabilities | 15,599 | 12,684 | ' | ' |
Long-term debt, less current installments, net of unamortized discount (Note 7) | 342,325 | 343,579 | ' | ' |
Stockholder's equity | 274,260 | 260,976 | ' | ' |
Total liabilities and stockholder's equity | 849,851 | 799,508 | ' | ' |
Subsidiary Non-Guarantors | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Current assets | 1,381 | 6,122 | ' | ' |
Property and equipment, net (Note 4) | 4,684 | 4,221 | ' | ' |
Goodwill (Note 5) | -1,297 | -1,447 | ' | ' |
Other assets and deferred charges | 70 | 364 | ' | ' |
Total assets | 4,838 | 9,260 | ' | ' |
Liabilities and stockholder's equity: | ' | ' | ' | ' |
Current liabilities | 1,765 | 4,947 | ' | ' |
Deferred income taxes | -351 | ' | ' | ' |
Deferred occupancy costs | 121 | 98 | ' | ' |
Stockholder's equity | 3,303 | 4,215 | ' | ' |
Total liabilities and stockholder's equity | 4,838 | 9,260 | ' | ' |
Consolidation, Eliminations | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Investment in sub | -3,303 | -4,215 | ' | ' |
Total assets | -3,303 | -4,215 | ' | ' |
Liabilities and stockholder's equity: | ' | ' | ' | ' |
Stockholder's equity | -3,303 | -4,215 | ' | ' |
Total liabilities and stockholder's equity | ($3,303) | ($4,215) | ' | ' |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Feb. 03, 2013 | Feb. 02, 2014 | Nov. 03, 2013 | Aug. 04, 2013 | 5-May-13 | Feb. 03, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 | |
Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total revenues | $10,355 | $171,371 | $142,330 | $153,723 | $168,155 | $165,586 | [1] | $131,066 | $147,941 | $163,474 | $635,579 | $608,067 | $541,545 |
Income (loss) before provision (benefit) for income taxes | ' | 10,652 | -8,679 | 3,232 | 14,523 | 6,140 | [1] | -10,541 | 315 | 14,725 | 19,728 | 10,639 | 1,634 |
Net income (loss) | ' | $6,824 | ($6,743) | $2,386 | $10,029 | $7,947 | [1] | ($1,621) | $687 | $10,984 | $12,496 | $17,997 | $955 |
[1] | Our fiscal 2012 year consisted of 53 weeks. Each quarterly period has 13 weeks, except the fourth quarterly period ended February 3, 2013, which consists of 14 weeks. We have estimated the revenues during the 53rd week of fiscal 2012 to be $10,355. |
Quarterly_Financial_Informatio3
Quarterly Financial Information (Parenthetical) (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Feb. 03, 2013 | Feb. 02, 2014 | Nov. 03, 2013 | Aug. 04, 2013 | 5-May-13 | Feb. 03, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 | |
Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total revenues | $10,355 | $171,371 | $142,330 | $153,723 | $168,155 | $165,586 | [1] | $131,066 | $147,941 | $163,474 | $635,579 | $608,067 | $541,545 |
[1] | Our fiscal 2012 year consisted of 53 weeks. Each quarterly period has 13 weeks, except the fourth quarterly period ended February 3, 2013, which consists of 14 weeks. We have estimated the revenues during the 53rd week of fiscal 2012 to be $10,355. |
Quarterly_Financial_Informatio4
Quarterly Financial Information - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Feb. 02, 2014 | Nov. 03, 2013 | Aug. 04, 2013 | 5-May-13 | Feb. 03, 2013 | Oct. 28, 2012 | Jul. 29, 2012 | Apr. 29, 2012 | Feb. 02, 2014 | Feb. 03, 2013 | Jan. 29, 2012 |
Store | Location | Location | |||||||||
Store | Store | ||||||||||
Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of locations opened | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 4 | ' |
Number of stores permanently closed | ' | ' | ' | ' | 1 | ' | ' | ' | ' | 1 | ' |
Pre-opening costs incurred | $1,865 | $2,333 | $1,970 | $872 | $1,262 | $1,089 | $559 | $150 | $7,040 | $3,060 | $4,186 |