Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
4-May-14 | Jun. 13, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 4-May-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Registrant Name | 'DAVE & BUSTERS INC | ' |
Entity Central Index Key | '0000943823 | ' |
Current Fiscal Year End Date | '--02-04 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 100 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | 4-May-14 | Feb. 02, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $60,888 | $38,080 |
Inventories | 16,320 | 15,354 |
Prepaid expenses | 11,421 | 9,620 |
Deferred income taxes | 16,620 | 15,985 |
Income taxes receivable | 690 | 2,444 |
Other current assets | 9,230 | 8,993 |
Total current assets | 115,169 | 90,476 |
Property and equipment (net of $210,907 and $195,339 accumulated depreciation as of May 4, 2014 and February 2, 2014, respectively) | 394,705 | 388,093 |
Tradenames | 79,000 | 79,000 |
Goodwill | 272,411 | 272,428 |
Other assets and deferred charges | 20,448 | 21,389 |
Total assets | 881,733 | 851,386 |
Current liabilities: | ' | ' |
Current installments of long-term debt (Note 3) | 1,500 | 1,500 |
Accounts payable | 34,538 | 36,092 |
Accrued liabilities (Note 2) | 82,673 | 74,379 |
Income taxes payable | 2,535 | 1,073 |
Deferred income taxes | 636 | ' |
Total current liabilities | 121,882 | 113,044 |
Deferred income taxes | 21,379 | 24,415 |
Deferred occupancy costs | 85,742 | 81,743 |
Other liabilities | 22,627 | 15,599 |
Long-term debt, less current installments, net of unamortized discount (Note 3) | 342,011 | 342,325 |
Commitments and contingencies (Note 5) | ' | ' |
Stockholder's equity: | ' | ' |
Common stock, $0.01 par value, 1,000 authorized; 100 issued and outstanding as of May 4, 2014 and February 2, 2014 | ' | ' |
Preferred stock, 10,000,000 authorized; none issued | ' | ' |
Paid-in capital | 248,410 | 248,136 |
Accumulated other comprehensive loss | -118 | -167 |
Retained earnings | 39,800 | 26,291 |
Total stockholder's equity | 288,092 | 274,260 |
Total liabilities and stockholder's equity | $881,733 | $851,386 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | 4-May-14 | Feb. 02, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Property and equipment, accumulated depreciation | $210,907 | $195,339 |
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 $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 4-May-14 | 5-May-13 |
Food and beverage revenues | $92,982 | $80,911 |
Amusement and other revenues | 101,841 | 87,244 |
Total revenues | 194,823 | 168,155 |
Cost of food and beverage | 23,858 | 20,151 |
Cost of amusement and other | 13,195 | 12,213 |
Total cost of products | 37,053 | 32,364 |
Operating payroll and benefits | 42,790 | 37,439 |
Other store operating expenses | 56,553 | 48,181 |
General and administrative expenses | 10,465 | 9,724 |
Depreciation and amortization expense | 17,287 | 16,910 |
Pre-opening costs | 2,444 | 872 |
Total operating costs | 166,592 | 145,490 |
Operating income (loss) | 28,231 | 22,665 |
Interest expense, net (Note 3) | 7,521 | 8,142 |
Income before provision for income taxes | 20,710 | 14,523 |
Provision for income taxes | 7,201 | 4,494 |
Net income | 13,509 | 10,029 |
Unrealized foreign currency translation gain (loss) | 49 | -43 |
Total comprehensive income | $13,558 | $9,986 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 4-May-14 | 5-May-13 |
Cash flows from operating activities: | ' | ' |
Net income | $13,509 | $10,029 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization expense | 17,287 | 16,910 |
Debt costs and discount amortization (Note 3) | 632 | 576 |
Deferred income tax expense (benefit) | -3,035 | 868 |
Loss on disposal of fixed assets | 293 | 504 |
Share-based compensation charges | 274 | 277 |
Other, net | -16 | 311 |
Changes in assets and liabilities: | ' | ' |
Inventories | -966 | 184 |
Prepaid expenses | -1,760 | 81 |
Income taxes receivable | 1,754 | ' |
Other current assets | -232 | 8,451 |
Other assets and deferred charges | -29 | -287 |
Accounts payable | 4,260 | -6,062 |
Accrued liabilities | 8,153 | 3,696 |
Income taxes payable | 1,462 | 3,616 |
Deferred occupancy costs | 4,040 | -876 |
Other liabilities | 7,128 | -105 |
Net cash provided by operating activities | 52,754 | 38,173 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -29,583 | -9,679 |
Proceeds from sales of property and equipment | 12 | 105 |
Net cash used in investing activities | -29,571 | -9,574 |
Cash flows from financing activities: | ' | ' |
Repayments of senior secured credit facility | -375 | -608 |
Net cash used in financing activities | -375 | -608 |
Increase in cash and cash equivalents | 22,808 | 27,991 |
Beginning cash and cash equivalents | 38,080 | 36,117 |
Ending cash and cash equivalents | 60,888 | 64,108 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid for income taxes, net | 104 | 10 |
Cash paid for interest and related debt fees, net of amounts capitalized | $1,667 | $2,095 |
Description_of_Business_and_Ba
Description of Business and Basis of Presentation | 3 Months Ended |
4-May-14 | |
Description of Business and Basis of Presentation | ' |
Note 1: Description of Business and Basis of Presentation | |
Description of Business — Dave & Buster’s, Inc., a Missouri corporation, owns and operates high-volume venues in North America that combine dining and entertainment for both adults and families. Our venues operate under the names “Dave & Buster’s” and “Dave & Buster’s Grand Sports Café.” As of May 4, 2014, there were 68 company-owned locations in the United States and Canada. On May 26, 2014, we opened a new store in Panama City Beach, Florida. 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 years ending February 1, 2015 and February 2, 2014, both will 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 significant assets or operations other than the ownership of all the common stock of D&B Holdings. D&B Holdings owns no 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. | |
Related party transactions — We owe D&B Entertainment for certain tax-related matters. We had a net payable of $13,745 and $6,907 as of May 4, 2014 and February 2, 2014, respectively. Additionally, from time to time, we temporarily advance funds to D&B Entertainment for payment of expenditures for its corporate purposes. | |
Funds managed by Oak Hill Advisors, L.P. (the “OHA Funds”) comprise one of twenty-three creditors participating in the term loan portion of our senior secured credit facility. As of May 4, 2014, the OHA Funds held approximately 9.97%, or $14,308 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. | |
Interim financial statements — The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial information as prescribed by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Operating results for the thirteen weeks ended May 4, 2014 are not necessarily indicative of results that may be expected for any other interim period or for the year ending February 1, 2015. Our quarterly financial data should be read in conjunction with our Annual Audited Consolidated Financial Statements for the year ended February 2, 2014 (including the notes thereto) as contained in our Annual Report on Form 10-K filed with the SEC. | |
The financial statements include our accounts after elimination of all significant intercompany balances and transactions. All dollar amounts are presented in thousands, unless otherwise noted, except share amounts. | |
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. | |
Recent Accounting Pronouncements — We reviewed all significant newly-issued accounting pronouncements and concluded that they either are not applicable to our operations or that no material effect is expected on our consolidated financial statements as a result of future adoption. | |
Significant accounting policies — There were no significant changes to our critical accounting policies from those disclosed in our Annual Report on Form 10-K filed with the SEC for the year ended February 2, 2014. |
Accrued_Liabilities
Accrued Liabilities | 3 Months Ended | ||||||||
4-May-14 | |||||||||
Accrued Liabilities | ' | ||||||||
Note 2: Accrued Liabilities | |||||||||
Accrued liabilities consist of the following: | |||||||||
May 4, 2014 | February 2, 2014 | ||||||||
Deferred amusement revenue | $ | 15,517 | $ | 14,047 | |||||
Compensation and benefits | 14,032 | 14,459 | |||||||
Amusement redemption liability | 9,707 | 9,707 | |||||||
Interest | 9,505 | 4,214 | |||||||
Rent | 9,193 | 9,040 | |||||||
Deferred gift card revenue | 4,501 | 4,709 | |||||||
Sales and use taxes | 4,277 | 4,408 | |||||||
Property taxes | 3,765 | 3,159 | |||||||
Current portion of long-term insurance reserves | 3,358 | 3,358 | |||||||
Other | 8,818 | 7,278 | |||||||
Total accrued liabilities | $ | 82,673 | $ | 74,379 | |||||
LongTerm_Debt
Long-Term Debt | 3 Months Ended | ||||||||
4-May-14 | |||||||||
Long-Term Debt | ' | ||||||||
Note 3: Long-Term Debt | |||||||||
Long-term debt consisted of the following: | |||||||||
May 4, 2014 | February 2, 2014 | ||||||||
Senior secured credit facility—term | $ | 144,000 | $ | 144,375 | |||||
Senior notes | 200,000 | 200,000 | |||||||
Total debt outstanding | 344,000 | 344,375 | |||||||
Unamortized debt discount | (489 | ) | (550 | ) | |||||
Less current installments | (1,500 | ) | (1,500 | ) | |||||
Long-term debt, less current installments, net of unamortized discount | $ | 342,011 | $ | 342,325 | |||||
Senior Secured Credit Facility — Our senior secured credit facility, as amended, 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 Company’s Canadian subsidiary. The revolving credit facility is available to provide financing for general purposes. As of May 4, 2014, we had no borrowings under the revolving credit facility, borrowings of $144,000 ($143,511, net of discount) under the term facility and $5,822 in letters of credit outstanding. | |||||||||
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. 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 May 4, 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 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 1.20:1.00 and a maximum leverage ratio of 3.75:1.00 as of May 4, 2014. 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. | |||||||||
As of May 4, 2014, we have had no draws on our revolving credit facility and outstanding letters of credit have not exceeded $12,000, and as such in accordance with the terms of the first amendment to the senior secured credit facility, we were not required to maintain financial ratios under our senior secured credit facility. | |||||||||
The second amendment to the senior secured credit facility provides for a reduction in the applicable term loan margin if our consolidated leverage ratio is less than 2.75:1.00 effective for periods subsequent to fiscal 2013. As of May 4, 2014, our consolidated leverage was 2.41:1.00. Effective May 7, 2014, our interest rate on the term loan facility was reduced to 4.25%. | |||||||||
Our senior secured credit facility also contains certain customary representations and warranties, affirmative covenants and events of default. 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. | |||||||||
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 May 4, 2014, our $200,000 of senior notes had an approximate fair value of $211,300 based on quoted market price. The fair value of the Company’s senior notes was determined to be a Level One instrument 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 senior notes restrict the Company’s ability to make certain payments to affiliated entities. The Company was in compliance with the debt covenants as of May 4, 2014. | |||||||||
Future debt obligations — The following table sets forth our future debt principal payment obligations as of May 4, 2014 (excluding repayment obligations under the revolving portion of our senior secured credit facility). | |||||||||
Debt Outstanding | |||||||||
as of May 4, 2014 | |||||||||
1 year or less | $ | 1,500 | |||||||
2 years | 1,500 | ||||||||
3 years | 141,000 | ||||||||
4 years | — | ||||||||
5 years | 200,000 | ||||||||
Thereafter | — | ||||||||
Total future payments | $ | 344,000 | |||||||
The following tables set forth our recorded interest expense, net: | |||||||||
Thirteen Weeks | Thirteen Weeks | ||||||||
Ended | Ended | ||||||||
May 4, 2014 | May 5, 2013 | ||||||||
Debt-based interest expense | $ | 7,063 | $ | 7,689 | |||||
Amortization of issuance cost and discount | 632 | 576 | |||||||
Interest income | (68 | ) | (82 | ) | |||||
Less capitalized interest | (106 | ) | (41 | ) | |||||
Total interest expense, net | $ | 7,521 | $ | 8,142 | |||||
Our senior secured credit facility requires us to make mandatory debt prepayments to the extent that we have excess cash flow, as defined by the facility, in any completed fiscal year. On May 5, 2014, we made a $491 debt prepayment based on our fiscal 2013 excess cash flow. The excess cash flow prepayment represented early payment of $375 in principal which is due on July 31, 2014 and $116 in principal which is due on October 31, 2014. |
Income_Taxes
Income Taxes | 3 Months Ended | ||||||||
4-May-14 | |||||||||
Income Taxes | ' | ||||||||
Note 4: Income Taxes | |||||||||
The provision for income taxes is as follows: | |||||||||
Thirteen Weeks | Thirteen Weeks | ||||||||
Ended | Ended | ||||||||
May 4, 2014 | May 5, 2013 | ||||||||
Current Expense | |||||||||
Federal | $ | 8,854 | $ | 2,590 | |||||
Foreign | 151 | 202 | |||||||
State and local | 1,231 | 834 | |||||||
Deferred expense (benefit) | (3,035 | ) | 868 | ||||||
Total provision for income taxes | $ | 7,201 | $ | 4,494 | |||||
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. | |||||||||
In assessing the realizability of deferred tax assets, at May 4, 2014 we considered whether it is more likely than not that some or all of the deferred tax assets will not be realized. Accordingly, we have established a valuation allowance of $1,390 for deferred tax assets associated with state taxes, and uncertain tax positions. The ultimate realization of our deferred tax assets is dependent on the generation of future taxable income during periods in which temporary differences and carryforwards become deductible. | |||||||||
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 due to 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, 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 May 4, 2014, we have accrued approximately $567 of unrecognized tax benefits and approximately $322 of penalties and interest. 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, $383 of unrecognized tax benefits, if recognized, would affect the effective tax rate. | |||||||||
The Company is a member of a consolidated group that includes D&B Entertainment and we file consolidated returns with all our domestic subsidiaries. As of May 4, 2014, the Company owes D&B Entertainment approximately $13,319 of tax-related balances. In fiscal year 2014, we expect to utilize approximately $670 of available stand-alone tax credit carryforwards to offset our estimated stand-alone cash tax liability to D&B Entertainment. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | ||||
4-May-14 | |||||
Commitments and Contingencies | ' | ||||
Note 5: Commitments and 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. | |||||
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. 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 guest migration to other stores within the same market. | |||||
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 percentage rentals based on revenues. | |||||
The following table sets forth our lease commitments as of May 4, 2014: | |||||
Operating Lease | |||||
Obligations | |||||
at May 4, 2014 | |||||
1 year or less | $ | 60,618 | |||
2 years | 60,388 | ||||
3 years | 58,776 | ||||
4 years | 56,685 | ||||
5 years | 52,566 | ||||
Thereafter | 324,890 | ||||
Total future payments | $ | 613,923 | |||
We have signed operating lease agreements for our store located in Panama City Beach, Florida which opened for business on May 26, 2014 and future sites located in Los Angeles, California, Albuquerque, New Mexico and Manchester, Connecticut (Hartford) which are scheduled to open in fiscal 2014.The landlord has fulfilled the obligations to commit us to the lease terms 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. | |||||
Additionally, as of May 4, 2014, we have signed ten lease agreements which contain certain landlord obligations which remain unfulfilled as of that date. 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. | |||||
As of June 2, 2014, our future site located in Greenville, South Carolina, included above, has been delivered by the landlord resulting in future commitments of approximately $12,600. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 3 Months Ended | ||||||||||||||||
4-May-14 | |||||||||||||||||
Condensed Consolidating Financial Information | ' | ||||||||||||||||
Note 6: Condensed Consolidating Financial Information | |||||||||||||||||
The senior notes (described in Note 3) 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 $167 and $925 respectively, for the thirteen week period ended May 4, 2014. There are no restrictions on cash distributions from the non-guarantor subsidiary. | |||||||||||||||||
May 4, 2014: | |||||||||||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, Inc. | ||||||||||||||
Guarantors | Guarantors (1) | ||||||||||||||||
Assets: | |||||||||||||||||
Current assets | $ | 112,922 | $ | 2,247 | $ | — | $ | 115,169 | |||||||||
Property and equipment, net | 390,125 | 4,580 | — | 394,705 | |||||||||||||
Tradenames | 79,000 | — | — | 79,000 | |||||||||||||
Goodwill | 273,726 | (1,315 | ) | — | 272,411 | ||||||||||||
Investment in sub | 3,519 | — | (3,519 | ) | — | ||||||||||||
Other assets and deferred charges | 20,377 | 71 | — | 20,448 | |||||||||||||
Total assets | $ | 879,669 | $ | 5,583 | $ | (3,519 | ) | $ | 881,733 | ||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, Inc. | ||||||||||||||
Guarantors | Guarantors | ||||||||||||||||
-1 | |||||||||||||||||
Liabilities and stockholder’s equity: | |||||||||||||||||
Current liabilities | $ | 119,511 | $ | 2,371 | $ | — | $ | 121,882 | |||||||||
Deferred income taxes | 21,817 | (438 | ) | — | 21,379 | ||||||||||||
Deferred occupancy costs | 85,611 | 131 | — | 85,742 | |||||||||||||
Other liabilities | 22,627 | — | — | 22,627 | |||||||||||||
Long-term debt, less current installments, net of unamortized discount (Note 3) | 342,011 | — | — | 342,011 | |||||||||||||
Stockholder’s equity | 288,092 | 3,519 | (3,519 | ) | 288,092 | ||||||||||||
Total liabilities and stockholder’s equity | $ | 879,669 | $ | 5,583 | $ | (3,519 | ) | $ | 881,733 | ||||||||
May 5, 2013: | |||||||||||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, Inc. | ||||||||||||||
Guarantors | Guarantors (1) | ||||||||||||||||
Assets: | |||||||||||||||||
Current assets | $ | 102,038 | $ | 5,172 | $ | — | $ | 107,210 | |||||||||
Property and equipment, net | 325,384 | 3,995 | — | 329,379 | |||||||||||||
Tradenames | 79,000 | — | — | 79,000 | |||||||||||||
Goodwill | 273,725 | (1,431 | ) | — | 272,294 | ||||||||||||
Investment in sub | 4,114 | — | (4,114 | ) | — | ||||||||||||
Other assets and deferred charges | 23,404 | 478 | — | 23,882 | |||||||||||||
Total assets | $ | 807,665 | $ | 8,214 | $ | (4,114 | ) | $ | 811,765 | ||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, Inc. | ||||||||||||||
Guarantors | Guarantors (1) | ||||||||||||||||
Liabilities and stockholder’s equity: | |||||||||||||||||
Current liabilities | $ | 90,241 | $ | 3,994 | $ | — | $ | 94,235 | |||||||||
Deferred income taxes | 21,813 | — | — | 21,813 | |||||||||||||
Deferred occupancy costs | 68,527 | 106 | — | 68,633 | |||||||||||||
Other liabilities | 12,579 | — | — | 12,579 | |||||||||||||
Long-term debt, less current installments, net of unamortized discount (Note 3) | 343,266 | — | — | 343,266 | |||||||||||||
Stockholder’s equity | 271,239 | 4,114 | (4,114 | ) | 271,239 | ||||||||||||
Total liabilities and stockholder’s equity | $ | 807,665 | $ | 8,214 | $ | (4,114 | ) | $ | 811,765 | ||||||||
-1 | Non-guarantor entity includes the one non-domestic subsidiary of Dave & Buster’s, Inc. |
Description_of_Business_and_Ba1
Description of Business and Basis of Presentation (Policies) | 3 Months Ended |
4-May-14 | |
Description of Business | ' |
Description of Business — Dave & Buster’s, Inc., a Missouri corporation, owns and operates high-volume venues in North America that combine dining and entertainment for both adults and families. Our venues operate under the names “Dave & Buster’s” and “Dave & Buster’s Grand Sports Café.” As of May 4, 2014, there were 68 company-owned locations in the United States and Canada. On May 26, 2014, we opened a new store in Panama City Beach, Florida. 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 years ending February 1, 2015 and February 2, 2014, both will 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 significant assets or operations other than the ownership of all the common stock of D&B Holdings. D&B Holdings owns no 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. | |
Related party transactions | ' |
Related party transactions — We owe D&B Entertainment for certain tax-related matters. We had a net payable of $13,745 and $6,907 as of May 4, 2014 and February 2, 2014, respectively. Additionally, from time to time, we temporarily advance funds to D&B Entertainment for payment of expenditures for its corporate purposes. | |
Funds managed by Oak Hill Advisors, L.P. (the “OHA Funds”) comprise one of twenty-three creditors participating in the term loan portion of our senior secured credit facility. As of May 4, 2014, the OHA Funds held approximately 9.97%, or $14,308 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. | |
Interim financial statements | ' |
Interim financial statements — The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial information as prescribed by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Operating results for the thirteen weeks ended May 4, 2014 are not necessarily indicative of results that may be expected for any other interim period or for the year ending February 1, 2015. Our quarterly financial data should be read in conjunction with our Annual Audited Consolidated Financial Statements for the year ended February 2, 2014 (including the notes thereto) as contained in our Annual Report on Form 10-K filed with the SEC. | |
The financial statements include our accounts after elimination of all significant intercompany balances and transactions. All dollar amounts are presented in thousands, unless otherwise noted, except share amounts. | |
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. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements — We reviewed all significant newly-issued accounting pronouncements and concluded that they either are not applicable to our operations or that no material effect is expected on our consolidated financial statements as a result of future adoption. | |
Significant accounting policies | ' |
Significant accounting policies — There were no significant changes to our critical accounting policies from those disclosed in our Annual Report on Form 10-K filed with the SEC for the year ended February 2, 2014. |
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 3 Months Ended | ||||||||
4-May-14 | |||||||||
Accrued Liabilities | ' | ||||||||
Accrued liabilities consist of the following: | |||||||||
May 4, 2014 | February 2, 2014 | ||||||||
Deferred amusement revenue | $ | 15,517 | $ | 14,047 | |||||
Compensation and benefits | 14,032 | 14,459 | |||||||
Amusement redemption liability | 9,707 | 9,707 | |||||||
Interest | 9,505 | 4,214 | |||||||
Rent | 9,193 | 9,040 | |||||||
Deferred gift card revenue | 4,501 | 4,709 | |||||||
Sales and use taxes | 4,277 | 4,408 | |||||||
Property taxes | 3,765 | 3,159 | |||||||
Current portion of long-term insurance reserves | 3,358 | 3,358 | |||||||
Other | 8,818 | 7,278 | |||||||
Total accrued liabilities | $ | 82,673 | $ | 74,379 | |||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 3 Months Ended | ||||||||
4-May-14 | |||||||||
Long-Term Debt | ' | ||||||||
Long-term debt consisted of the following: | |||||||||
May 4, 2014 | February 2, 2014 | ||||||||
Senior secured credit facility—term | $ | 144,000 | $ | 144,375 | |||||
Senior notes | 200,000 | 200,000 | |||||||
Total debt outstanding | 344,000 | 344,375 | |||||||
Unamortized debt discount | (489 | ) | (550 | ) | |||||
Less current installments | (1,500 | ) | (1,500 | ) | |||||
Long-term debt, less current installments, net of unamortized discount | $ | 342,011 | $ | 342,325 | |||||
Future Debt Principal Payment Obligations | ' | ||||||||
The following table sets forth our future debt principal payment obligations as of May 4, 2014 (excluding repayment obligations under the revolving portion of our senior secured credit facility). | |||||||||
Debt Outstanding | |||||||||
as of May 4, 2014 | |||||||||
1 year or less | $ | 1,500 | |||||||
2 years | 1,500 | ||||||||
3 years | 141,000 | ||||||||
4 years | — | ||||||||
5 years | 200,000 | ||||||||
Thereafter | — | ||||||||
Total future payments | $ | 344,000 | |||||||
Recorded Interest Expense, Net | ' | ||||||||
The following tables set forth our recorded interest expense, net: | |||||||||
Thirteen Weeks | Thirteen Weeks | ||||||||
Ended | Ended | ||||||||
May 4, 2014 | May 5, 2013 | ||||||||
Debt-based interest expense | $ | 7,063 | $ | 7,689 | |||||
Amortization of issuance cost and discount | 632 | 576 | |||||||
Interest income | (68 | ) | (82 | ) | |||||
Less capitalized interest | (106 | ) | (41 | ) | |||||
Total interest expense, net | $ | 7,521 | $ | 8,142 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | ||||||||
4-May-14 | |||||||||
Provision for Income Taxes | ' | ||||||||
The provision for income taxes is as follows: | |||||||||
Thirteen Weeks | Thirteen Weeks | ||||||||
Ended | Ended | ||||||||
May 4, 2014 | May 5, 2013 | ||||||||
Current Expense | |||||||||
Federal | $ | 8,854 | $ | 2,590 | |||||
Foreign | 151 | 202 | |||||||
State and local | 1,231 | 834 | |||||||
Deferred expense (benefit) | (3,035 | ) | 868 | ||||||
Total provision for income taxes | $ | 7,201 | $ | 4,494 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | ||||
4-May-14 | |||||
Future Minimum Lease Payments | ' | ||||
The following table sets forth our lease commitments as of May 4, 2014: | |||||
Operating Lease | |||||
Obligations | |||||
at May 4, 2014 | |||||
1 year or less | $ | 60,618 | |||
2 years | 60,388 | ||||
3 years | 58,776 | ||||
4 years | 56,685 | ||||
5 years | 52,566 | ||||
Thereafter | 324,890 | ||||
Total future payments | $ | 613,923 | |||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 3 Months Ended | ||||||||||||||||
4-May-14 | |||||||||||||||||
Condensed Consolidating Financial Information | ' | ||||||||||||||||
May 4, 2014: | |||||||||||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, Inc. | ||||||||||||||
Guarantors | Guarantors (1) | ||||||||||||||||
Assets: | |||||||||||||||||
Current assets | $ | 112,922 | $ | 2,247 | $ | — | $ | 115,169 | |||||||||
Property and equipment, net | 390,125 | 4,580 | — | 394,705 | |||||||||||||
Tradenames | 79,000 | — | — | 79,000 | |||||||||||||
Goodwill | 273,726 | (1,315 | ) | — | 272,411 | ||||||||||||
Investment in sub | 3,519 | — | (3,519 | ) | — | ||||||||||||
Other assets and deferred charges | 20,377 | 71 | — | 20,448 | |||||||||||||
Total assets | $ | 879,669 | $ | 5,583 | $ | (3,519 | ) | $ | 881,733 | ||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, Inc. | ||||||||||||||
Guarantors | Guarantors | ||||||||||||||||
-1 | |||||||||||||||||
Liabilities and stockholder’s equity: | |||||||||||||||||
Current liabilities | $ | 119,511 | $ | 2,371 | $ | — | $ | 121,882 | |||||||||
Deferred income taxes | 21,817 | (438 | ) | — | 21,379 | ||||||||||||
Deferred occupancy costs | 85,611 | 131 | — | 85,742 | |||||||||||||
Other liabilities | 22,627 | — | — | 22,627 | |||||||||||||
Long-term debt, less current installments, net of unamortized discount (Note 3) | 342,011 | — | — | 342,011 | |||||||||||||
Stockholder’s equity | 288,092 | 3,519 | (3,519 | ) | 288,092 | ||||||||||||
Total liabilities and stockholder’s equity | $ | 879,669 | $ | 5,583 | $ | (3,519 | ) | $ | 881,733 | ||||||||
May 5, 2013: | |||||||||||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, Inc. | ||||||||||||||
Guarantors | Guarantors (1) | ||||||||||||||||
Assets: | |||||||||||||||||
Current assets | $ | 102,038 | $ | 5,172 | $ | — | $ | 107,210 | |||||||||
Property and equipment, net | 325,384 | 3,995 | — | 329,379 | |||||||||||||
Tradenames | 79,000 | — | — | 79,000 | |||||||||||||
Goodwill | 273,725 | (1,431 | ) | — | 272,294 | ||||||||||||
Investment in sub | 4,114 | — | (4,114 | ) | — | ||||||||||||
Other assets and deferred charges | 23,404 | 478 | — | 23,882 | |||||||||||||
Total assets | $ | 807,665 | $ | 8,214 | $ | (4,114 | ) | $ | 811,765 | ||||||||
Issuer and | Subsidiary | Consolidating | Consolidated | ||||||||||||||
Subsidiary | Non- | Adjustments | Dave & Buster’s, Inc. | ||||||||||||||
Guarantors | Guarantors (1) | ||||||||||||||||
Liabilities and stockholder’s equity: | |||||||||||||||||
Current liabilities | $ | 90,241 | $ | 3,994 | $ | — | $ | 94,235 | |||||||||
Deferred income taxes | 21,813 | — | — | 21,813 | |||||||||||||
Deferred occupancy costs | 68,527 | 106 | — | 68,633 | |||||||||||||
Other liabilities | 12,579 | — | — | 12,579 | |||||||||||||
Long-term debt, less current installments, net of unamortized discount (Note 3) | 343,266 | — | — | 343,266 | |||||||||||||
Stockholder’s equity | 271,239 | 4,114 | (4,114 | ) | 271,239 | ||||||||||||
Total liabilities and stockholder’s equity | $ | 807,665 | $ | 8,214 | $ | (4,114 | ) | $ | 811,765 | ||||||||
-1 | Non-guarantor entity includes the one non-domestic subsidiary of Dave & Buster’s, Inc. |
Description_of_Business_and_Su
Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 4-May-14 | Feb. 02, 2014 |
Segment | ||
Location | ||
Number of locations | 68 | ' |
Number of operating segments | 1 | ' |
Number of reportable segments | 1 | ' |
Net payable to related party | $13,745 | $6,907 |
Oak Hill Capital Management, LLC | ' | ' |
Number of creditors for senior secured credit facility | 23 | ' |
Percentage of term loan held by Oak Hill Advisors, L.P. | 9.97% | ' |
Term loan held by Oak Hill Advisors, L.P. | $14,308 | ' |
Accrued_Liabilities_Detail
Accrued Liabilities (Detail) (USD $) | 4-May-14 | Feb. 02, 2014 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities, Current [Abstract] | ' | ' |
Deferred amusement revenue | $15,517 | $14,047 |
Compensation and benefits | 14,032 | 14,459 |
Amusement redemption liability | 9,707 | 9,707 |
Interest | 9,505 | 4,214 |
Rent | 9,193 | 9,040 |
Deferred gift card revenue | 4,501 | 4,709 |
Sales and use taxes | 4,277 | 4,408 |
Property taxes | 3,765 | 3,159 |
Current portion of long-term insurance reserves | 3,358 | 3,358 |
Other | 8,818 | 7,278 |
Total accrued liabilities | $82,673 | $74,379 |
Long_Term_Debt_Detail
Long Term Debt (Detail) (USD $) | 4-May-14 | Feb. 02, 2014 | 5-May-13 |
In Thousands, unless otherwise specified | |||
Debt Instrument [Line Items] | ' | ' | ' |
Debt outstanding | $344,000 | $344,375 | ' |
Unamortized debt discount | -489 | -550 | ' |
Less current installments | -1,500 | -1,500 | ' |
Long-term debt, less current installments, net of unamortized discount | 342,011 | 342,325 | 343,266 |
Secured Debt | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt outstanding | 144,000 | 144,375 | ' |
Senior Notes | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt outstanding | $200,000 | $200,000 | ' |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 4-May-14 | 4-May-14 | 4-May-14 | 4-May-14 | 5-May-14 | 4-May-14 | 4-May-14 | 4-May-14 | 4-May-14 | 7-May-14 | 4-May-14 | 4-May-14 | 4-May-14 | 4-May-14 |
In Thousands, unless otherwise specified | Due on July 31, 2014 | Due on October 31, 2014 | Senior Notes | Subsequent Event | Minimum | Maximum | Maximum | Secured Debt | Secured Debt | Revolving credit facility | Domestic Line of Credit | Foreign Line of Credit | Swingline sub-facility | |
Second Amendment | Subsequent Event | |||||||||||||
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 | ' | ' | ' |
Credit facility outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Letters of credit outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,822 | ' | ' |
Credit facility, current borrowing | 144,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, current borrowing, net of discount | 143,511 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | 4.25% | ' | ' | ' | ' |
Fixed charge coverage ratio | ' | ' | ' | ' | ' | 120.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Leverage ratio | ' | ' | ' | ' | ' | ' | 375.00% | 275.00% | 241.00% | ' | ' | ' | ' | ' |
Outstanding letter of credit above which the company is required to maintain financial ratios | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | ' | ' | ' | ' | ' |
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 | ' | ' | ' | 211,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated coverage ratio | ' | ' | ' | 200.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount paid early | ' | $375 | $116 | ' | $491 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future_Debt_Payment_Obligation
Future Debt Payment Obligations (Detail) (USD $) | 4-May-14 |
In Thousands, unless otherwise specified | |
Debt Instrument [Line Items] | ' |
1 year or less | $1,500 |
2 years | 1,500 |
3 years | 141,000 |
4 years | ' |
5 years | 200,000 |
Thereafter | ' |
Total future payments | $344,000 |
Recorded_Interest_Expense_Net_
Recorded Interest Expense, Net (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 4-May-14 | 5-May-13 |
Debt Instrument [Line Items] | ' | ' |
Debt-based interest expense | $7,063 | $7,689 |
Amortization of issuance cost and discount | 632 | 576 |
Interest income | -68 | -82 |
Less capitalized interest | -106 | -41 |
Total interest expense, net | $7,521 | $8,142 |
Provision_for_Income_Taxes_Det
Provision for Income Taxes (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 4-May-14 | 5-May-13 |
Current Expense | ' | ' |
Federal | $8,854 | $2,590 |
Foreign | 151 | 202 |
State and local | 1,231 | 834 |
Deferred expense (benefit) | -3,035 | 868 |
Total provision for income taxes | $7,201 | $4,494 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | 4-May-14 |
Income Tax [Line Items] | ' |
Unrecognized tax benefits, accrued | $567 |
Accrued interest and penalties on unrecognized tax benefits | 322 |
Unrecognized tax benefits, if recognized, would affect the effective tax rate | 383 |
Tax related balances | 13,319 |
Available stand alone tax credits | 670 |
UNITED STATES | ' |
Income Tax [Line Items] | ' |
Valuation allowance against deferred tax assets | $1,390 |
Future_Minimum_Lease_Payments_
Future Minimum Lease Payments (Detail) (USD $) | 4-May-14 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | ' |
Operating Lease Obligations, 1 year or less | $60,618 |
Operating Lease Obligations, 2 years | 60,388 |
Operating Lease Obligations, 3 years | 58,776 |
Operating Lease Obligations, 4 years | 56,685 |
Operating Lease Obligations, 5 years | 52,566 |
Operating Lease Obligations, Thereafter | 324,890 |
Operating Lease Obligations, Total future payments | $613,923 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 4-May-14 | Jun. 02, 2014 |
Agreement | Subsequent Event | |
Leases Disclosure [Line Items] | ' | ' |
Lease agreement signed for future site | 10 | ' |
Operating lease rental future commitments | $613,923 | $12,600 |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 4-May-14 | 5-May-13 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Result of operation | $28,231 | $22,665 |
Subsidiary Non-Guarantors | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Result of operation | 167 | ' |
Cash flow from operating activities | $925 | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Detail) (USD $) | 4-May-14 | Feb. 02, 2014 | 5-May-13 | ||
In Thousands, unless otherwise specified | |||||
Assets: | ' | ' | ' | ||
Current assets | $115,169 | $90,476 | $107,210 | ||
Property and equipment, net | 394,705 | 388,093 | 329,379 | ||
Tradenames | 79,000 | 79,000 | 79,000 | ||
Goodwill | 272,411 | 272,428 | 272,294 | ||
Other assets and deferred charges | 20,448 | 21,389 | 23,882 | ||
Total assets | 881,733 | 851,386 | 811,765 | ||
Liabilities and stockholder's equity: | ' | ' | ' | ||
Current liabilities | 121,882 | 113,044 | 94,235 | ||
Deferred income taxes | 21,379 | 24,415 | 21,813 | ||
Deferred occupancy costs | 85,742 | 81,743 | 68,633 | ||
Other liabilities | 22,627 | 15,599 | 12,579 | ||
Long-term debt, less current installments, net of unamortized discount (Note 3) | 342,011 | 342,325 | 343,266 | ||
Stockholder's equity | 288,092 | 274,260 | 271,239 | ||
Total liabilities and stockholder's equity | 881,733 | 851,386 | 811,765 | ||
Issuer and Subsidiary Guarantors | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Current assets | 112,922 | ' | 102,038 | ||
Property and equipment, net | 390,125 | ' | 325,384 | ||
Tradenames | 79,000 | ' | 79,000 | ||
Goodwill | 273,726 | ' | 273,725 | ||
Investment in sub | 3,519 | ' | 4,114 | ||
Other assets and deferred charges | 20,377 | ' | 23,404 | ||
Total assets | 879,669 | ' | 807,665 | ||
Liabilities and stockholder's equity: | ' | ' | ' | ||
Current liabilities | 119,511 | ' | 90,241 | ||
Deferred income taxes | 21,817 | ' | 21,813 | ||
Deferred occupancy costs | 85,611 | ' | 68,527 | ||
Other liabilities | 22,627 | ' | 12,579 | ||
Long-term debt, less current installments, net of unamortized discount (Note 3) | 342,011 | ' | 343,266 | ||
Stockholder's equity | 288,092 | ' | 271,239 | ||
Total liabilities and stockholder's equity | 879,669 | ' | 807,665 | ||
Subsidiary Non-Guarantors | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Current assets | 2,247 | [1] | ' | 5,172 | [1] |
Property and equipment, net | 4,580 | [1] | ' | 3,995 | [1] |
Goodwill | -1,315 | [1] | ' | -1,431 | [1] |
Other assets and deferred charges | 71 | [1] | ' | 478 | [1] |
Total assets | 5,583 | [1] | ' | 8,214 | [1] |
Liabilities and stockholder's equity: | ' | ' | ' | ||
Current liabilities | 2,371 | [1] | ' | 3,994 | [1] |
Deferred income taxes | -438 | [1] | ' | ' | |
Deferred occupancy costs | 131 | [1] | ' | 106 | [1] |
Stockholder's equity | 3,519 | [1] | ' | 4,114 | [1] |
Total liabilities and stockholder's equity | 5,583 | [1] | ' | 8,214 | [1] |
Consolidation, Eliminations | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Investment in sub | -3,519 | ' | -4,114 | ||
Total assets | -3,519 | ' | -4,114 | ||
Liabilities and stockholder's equity: | ' | ' | ' | ||
Stockholder's equity | -3,519 | ' | -4,114 | ||
Total liabilities and stockholder's equity | ($3,519) | ' | ($4,114) | ||
[1] | Non-guarantor entity includes the one non-domestic subsidiary of Dave & Buster's, Inc. |