XML 74 R57.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES (Deferred Income Tax Assets (Liabilities)) (Details) - USD ($)
$ in Thousands
3 Months Ended
Nov. 03, 2018
Aug. 04, 2018
May 05, 2018
Feb. 02, 2019
Feb. 03, 2018
Income Tax Disclosure [Abstract]          
Immaterial Error Correction 52.6 53.3 53.5    
Deferred tax asset, intangibles foreign step-up in basis [1]       $ 52,615 $ 0
Deferred income tax assets:          
Deferred compensation       22,341 31,567
Accrued expenses and reserves       12,767 13,790
Rent       27,299 29,594
Net operating losses (NOL), tax credit and other carryforwards       8,195 5,256
Investments in subsidiaries       1,988 0
Other       1,012 1,100
Valuation allowances       (5,402) (3,508)
Total deferred income tax assets       120,815 77,799
Deferred Tax Liability, U.S. offset to foreign step-up in basis [1]       (52,615) 0
Deferred income tax liabilities:          
Inventory       (4,769) (2,923)
Property, equipment and intangibles       (6,937) (5,206)
Store supplies       (2,998) (3,261)
Prepaid expenses       (2,564) (1,698)
Investments in subsidiaries       0 (2,937)
Other       (660) (1,532)
Total deferred income tax liabilities       (70,543) (17,557)
Net deferred income tax assets (2) [2]       $ 50,272 $ 60,242
[1] In conjunction with the adoption of ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory, which was effective at the beginning of Fiscal 2018 for the Company, Swiss deferred tax assets and U.S. deferred tax liabilities associated with prior year restructurings were recorded as an error correction during the fourth quarter of Fiscal 2018. Recognizing the impact of adoption at the beginning of Fiscal 2018 would have resulted in an increase to both deferred tax assets and deferred tax liabilities of $53.5 million, $53.3 million, and $52.6 million as of May 5, 2018, August 4, 2018 and November 3, 2018, respectively. Based on quantitative and qualitative assessments, such amounts are not considered material to the prior periods. This correction did not have an impact to the Consolidated Statements of Operations and Comprehensive Income (Loss) or the Consolidated Statements of Cash Flows. The deferred tax asset relates to a step-up in basis associated with the intra-entity transfer of intangible assets to Switzerland which are being amortized for Swiss local tax purposes. As this subsidiary’s income is also taxable in the U.S., a corresponding U.S. deferred tax liability was recognized to reflect lower resulting foreign tax credits due to the amortization of the Swiss step-up in basis.
[2] (2) This table does not reflect deferred taxes classified within accumulated other comprehensive loss. As of February 2, 2019, accumulated other comprehensive loss included deferred tax liabilities of $0.3 million. As of February 3, 2018, accumulated other comprehensive loss included deferred tax assets of $1.2 million.