XML 49 R36.htm IDEA: XBRL DOCUMENT v3.19.2
Summary of Significant Accounting Policies Impact from Adoption of Revenue Accounting Standards (Details) - USD ($)
$ in Thousands
May 04, 2019
Feb. 03, 2019
Feb. 02, 2019
May 05, 2018
Feb. 03, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Cash and equivalents $ 586,133 $ 723,135 [1] $ 723,135 $ 591,960 $ 675,558
Receivables 82,026 73,112 [1] 73,112    
Inventories 432,350 437,879 [1] 437,879    
Other current assets (2) 71,803 70,514 [1] 101,824    
Total current assets 1,172,312 1,304,640 [1] 1,335,950    
Property and equipment, net (3) 633,686 648,231 [1] 694,855    
Operating lease right-of-use assets (2) 1,252,249 1,234,515 [1] 0    
Other assets (2) (5) 364,719 370,341 [1] 354,788    
Total assets 3,422,966 3,557,727 [1] 2,385,593    
Accounts payable 180,041 226,878 [1] 226,878    
Accrued expenses (2) 240,050 280,071 [1] 293,579    
Short-term portion of operating lease liabilities (4) 278,392 280,108 [1] 0    
Short-term portion of deferred lease credits (2) 16,022 0 [1] 19,558    
Income taxes payable 0 18,902 [1] 18,902    
Total current liabilities 714,505 805,959 [1] 558,917    
Long-term portion of operating lease liabilities (4) 1,207,103 1,193,946 [1] 0    
Long-term portion of borrowings, net 250,736 250,439 [1] 250,439    
Long-term portion of deferred lease credits (2) 0 0 [1] 76,134    
Leasehold financing obligations (3) 0 0 [1] 46,337    
Other liabilities (2) (5) 145,659 163,927 [1] 235,145    
Total long-term liabilities 1,603,498 1,608,312 [1] 608,055    
Class A Common Stock 1,033 1,033 [1] 1,033    
Paid-in capital 395,974 405,379 [1] 405,379    
Retained earnings (6) 2,296,347 2,343,379 [1] 2,418,544    
Accumulated other comprehensive loss, net of tax (105,291) (102,452) [1] (102,452) (91,133) (95,054)
Treasury stock, at average cost 1,493,224 1,513,604 [1] 1,513,604    
Total Abercrombie & Fitch Co. stockholders’ equity 1,094,839 1,133,735 [1] 1,208,900    
Noncontrolling interests 10,124 9,721 [1] 9,721    
Total stockholders' equity 1,104,963 1,143,456 [1] 1,218,621 $ 1,188,846 $ 1,252,471
Total liabilities and stockholders’ equity $ 3,422,966 3,557,727 [1] $ 2,385,593    
Accounting Standards Update 2016-02 [Member]          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Cash and equivalents   0      
Receivables   0      
Inventories   0      
Other current assets (2) [2]   (31,310)      
Total current assets   (31,310)      
Property and equipment, net (3) [3]   (46,624)      
Operating lease right-of-use assets (2) [2]   1,234,515      
Other assets (2) (5) [2],[4]   15,553      
Total assets   1,172,134      
Accounts payable   0      
Accrued expenses (2) [2]   (13,508)      
Short-term portion of operating lease liabilities (4) [5]   280,108      
Short-term portion of deferred lease credits (2)   (19,558)      
Income taxes payable   0      
Total current liabilities   247,042      
Long-term portion of operating lease liabilities (4) [5]   1,193,946      
Long-term portion of borrowings, net   0      
Long-term portion of deferred lease credits (2) [2]   (76,134)      
Leasehold financing obligations (3) [3]   (46,337)      
Other liabilities (2) (5) [2],[4]   (71,218)      
Total long-term liabilities   1,000,257      
Class A Common Stock   0      
Paid-in capital   0      
Retained earnings (6) [6]   (75,165)      
Accumulated other comprehensive loss, net of tax   0      
Treasury stock, at average cost   0      
Total Abercrombie & Fitch Co. stockholders’ equity   (75,165)      
Noncontrolling interests   0      
Total stockholders' equity   (75,165)      
Total liabilities and stockholders’ equity   $ 1,172,134      
[1] Amounts under “Upon adoption on February 3, 2019 (under new lease accounting standard),” are calculated as February 2, 2019 reported balances adjusted for the impact of adoption on the first day of Fiscal 2019, February 3, 2019.
[2] Upon adoption, the Company recognized assets for the rights to use its operating leases on the Condensed Consolidated Balance Sheet. In conjunction with this recognition, the Company reclassified amounts to operating lease right-of-use assets including: short-term prepaid rent from other current assets; key money, long-term prepaid rent and leasehold acquisition costs from other assets; short-term and long-term portions of deferred lease credits; accrued rent and accrued straight-line rent from accrued expenses and other liabilities, respectively.
[3] Upon adoption, the Company derecognized construction project assets and related leasehold financing obligations that previously failed to qualify for sale and leaseback accounting. In certain instances, these construction project assets had shielded other assets included within their respective asset groups from impairment, as the fair value of the construction project assets had exceeded the carrying values of their respective asset groups. In such instances, the Company recognized impairment of certain leasehold improvements and store assets upon adoption.
[4] Upon adoption, the Company established net deferred tax assets for operating lease right-of-use assets and operating lease liabilities.
[5] Upon adoption, the Company recognized operating lease liabilities on the Condensed Consolidated Balance Sheet.
[6] Upon adoption, the Company recognized a cumulative adjustment decreasing the opening balance of retained earnings, primarily related to right-of-use asset impairment charges for certain of the Company’s stores where it was previously determined that the carrying value of assets was not recoverable, partially offset by benefits to retained earnings to establish net deferred tax assets and a net gain resulting from the derecognition of certain leased building assets and related leasehold financing obligations that previously failed to qualify for sale and leaseback accounting.