Recently Issued Accounting Standards (Tables)

3 Months Ended

May 05, 2018

Accounting Standards Update 2014-09 [Member]

Summary of Impact of Adopting Topic 606 Condensed Consolidated Statements of Operations and Balance Sheets

The following table summarizes the impact of adopting Topic 606 on the Company’s condensed consolidated statements of operations (in thousands):

	Three Months Ended May 5, 2018
	As Reported		Adjustments			Balances without Adoption of Topic 606
Net revenues	$	557,406	$	(7,610	)	$	549,796
Cost of goods sold		345,371		(2,988	)		342,383
Gross profit		212,035		(4,622	)		207,413
Selling, general and administrative expenses		158,434		3,803			162,237
Income from operations		53,601		(8,425	)		45,176
Interest expense—net		17,035		—			17,035
Income before income taxes		36,566		(8,425	)		28,141
Income tax expense		8,507		(1,950	)		6,557
Net income	$	28,059	$	(6,475	)	$	21,584

The following table summarizes the impact of adopting Topic 606 on certain line items of the Company’s condensed consolidated balance sheets (in thousands):

	As of May 5, 2018
	As Reported		Adjustments			Balances without Adoption of Topic 606
Prepaid expense and other current assets	$	60,064	$	27,652		$	87,716
Deferred tax assets		30,014		(6,561	)		23,453
Accounts payable and accrued expenses		264,173		(638	)		263,535
Deferred revenue and customer deposits		172,379		9,463			181,842
Other current liabilities		59,944		(2,295	)		57,649
Retained earnings		159,417		14,561			173,978