Recently Issued Accounting Standards (Tables)

9 Months Ended

Nov. 03, 2018

Accounting Standards Update 2014-09 [Member]

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

The following tables summarize the impact of adopting Topic 606 on the Company’s condensed consolidated statements of income (in thousands):

	Three Months Ended November 3, 2018
	As Reported		Adjustments			Balances without Adoption of Topic 606
Net revenues	$	636,558	$	(1,066	)	$	635,492
Cost of goods sold		382,047		(80	)		381,967
Gross profit		254,511		(986	)		253,525
Selling, general and administrative expenses		207,495		(11,693	)		195,802
Income from operations		47,016		10,707			57,723
Other expenses
Interest expense—net		19,371		—			19,371
Loss on extinguishment of debt		—		—			—
Total other expenses		19,371		—			19,371
Income before income taxes		27,645		10,707			38,352
Income tax expense		5,234		2,015			7,249
Net income	$	22,411	$	8,692		$	31,103

	Nine Months Ended November 3, 2018
	As Reported		Adjustments			Balances without Adoption of Topic 606
Net revenues	$	1,834,762	$	(10,361	)	$	1,824,401
Cost of goods sold		1,096,616		(3,730	)		1,092,886
Gross profit		738,146		(6,631	)		731,515
Selling, general and administrative expenses		552,154		(18,995	)		533,159
Income from operations		185,992		12,364			198,356
Other expenses
Interest expense—net		53,886		—			53,886
Loss on extinguishment of debt		917		—			917
Total other expenses		54,803		—			54,803
Income before income taxes		131,189		12,364			143,553
Income tax expense		16,677		520			17,197
Net income	$	114,512	$	11,844		$	126,356

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 November 3, 2018
	As Reported		Adjustments			Balances without Adoption of Topic 606
Prepaid expense and other current assets	$	77,418	$	46,972		$	124,390
Deferred tax assets		29,049		(6,561	)		22,488
Accounts payable and accrued expenses		306,860		(789	)		306,071
Deferred revenue and customer deposits		165,065		10,006			175,071
Other current liabilities		53,441		(1,686	)		51,755
Retained earnings		245,870		32,880			278,750