Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 01, 2020

Such securities are carried at amortized cost plus accrued interest and consist of the following (in thousands):



	As of February 1, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value
Short-term:
Corporate bonds	$	58,625	$	—	$	4	$	58,621
Municipal bonds	604		—		—		604
Total	$	59,229	$	—	$	4	$	59,225



	As of February 2, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value
Short-term:
Corporate bonds	$	83,128	$	—	$	63	$	83,065
Municipal bonds	2,284		—		2		2,282
Total	$	85,412	$	—	$	65	$	85,347

Property and Equipment, Net

Property and equipment, net, consists of the following (in thousands):



	February 1, 2020			February 2, 2019
Land	$	14,773		$	7,150
Furniture and fixtures	202,340			145,254
Leasehold improvements	240,664			166,374
Computers and equipment	117,803			69,739
Construction in process	78,577			81,368
Property and equipment, gross	654,157			469,885
Less: Accumulated depreciation and amortization	(215,071		)	(168,588		)
Property and equipment, net	$	439,086		$	301,297

Deferred Rent

The following table summarizes the Company's deferred rent and other long-term liabilities balances (in thousands):



	February 1, 2020		February 2, 2019
Current:
Deferred rent ⁽¹⁾	$	—	$	8,228
Total current liabilities	$	—	$	8,228

Long-term:
Deferred rent	$	—	$	84,065
Other	1,199		—
Total long-term liabilities	$	1,199	$	84,065


(1)	The current portion of deferred rent is included in the other accrued expenses line item in the accompanying

consolidated balance sheets.

New Accounting Pronouncement, Early Adoption

Impact of New Lease Standard on Balance Sheet Line Items

As a result of applying the new lease standard using the modified retrospective method, the following adjustments were made to accounts on the consolidated balance sheet as of February 3, 2019 (in thousands):



	Impact of ASC 842 Adoption
	As Reported February 2, 2019		Adjustments			Adjusted February 3, 2019
Assets
Current assets:
Prepaid expenses and other current assets	60,124		(11,077		)	49,047
Total current assets	642,257		(11,077		)	631,180
Operating lease assets	—		628,924			628,924
	$	952,264	$	617,847		$	1,570,111

Liabilities and Shareholders’ Equity
Current liabilities:
Other accrued expenses	104,201		(8,033		)	96,168
Total current liabilities	253,105		(8,033		)	245,072
Deferred rent and other	84,065		(84,065		)	—
Long-term operating lease liabilities	—		709,945			709,945
Total liabilities	337,170		617,847			955,017
Shareholders’ equity:
Total shareholders’ equity	615,094		—			615,094
	$	952,264	$	617,847		$	1,570,111