Asset Impairments and Other Charges and Discontinued Operations (Tables)

12 Months Ended

Feb. 02, 2019

Asset Impairments and Other Charges and Discontinued Operations [Abstract]

Impact of Discontinued Operations on Financial Statements

Assets and liabilities of discontinued operations presented in the Consolidated Balance Sheets at February 3, 2018 are included in the following table. The sale of Lids Sports Group was completed on February 2, 2019, and, accordingly, the assets and liabilities are not included as of February 2, 2019.

(In thousands)	February 3, 2018
Assets
Accounts Receivable	$	9,678
Inventories	154,215
Prepaids and other current assets	13,203
Current assets - discontinued operations	$	177,096
Property and equipment, net	$	84,082
Trademarks	54,748
Other Intangibles	454
Long-term assets - discontinued operations	$	139,284
Liabilities
Accounts payable	$	17,675
Accrued employee compensation	1,870
Other accrued liabilities	21,697
Current liabilities - discontinued operations	$	41,242
Deferred rent and other long-term liabilities	$	25,907
Long-term liabilities - discontinued operations	$	25,907

Components of amounts reflected in (loss) earnings from discontinued operations, net of tax on the Consolidated Statements of Operations for the years ended February 2, 2019, February 3, 2018 and January 28, 2017 are as follows (in thousands):

	Fiscal Year
	2019			2018			2017
Net sales	$	723,125		$	779,469		$	847,510
Cost of sales	348,038			374,730			405,903
Selling and administrative expenses	370,480			391,982			400,513
Goodwill and trademark impairment	5,736			182,211			—
Asset impairments and other, net	2,394			1,068			4,773
Loss on sale of Lids Sports Group	(126,321		)	—			—
Other components of net periodic benefit cost	(23		)	(128		)	(69		)
Gain on sale of Lids Team Sports	—			—			2,404
Provision for discontinued operations(1)	(743		)	(552		)	(701		)
(Loss) earnings from discontinued operations before taxes	(130,610		)	(171,202		)	37,955
Income tax expense (benefit)	(27,456		)	(22,655		)	13,406
(Loss) earnings from discontinued operations, net of tax	$	(103,154	)	$	(148,547	)	$	24,549

⁽¹⁾ Expenses primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company (see additional disclosures below and Note 13).

The cash flows related to discontinued operations have not been segregated, and are included in the Consolidated Statements of Cash Flows. The following table summarizes depreciation and amortization, capital expenditures and the significant operating noncash items from discontinued operations for each period presented:

	Fiscal Year
(In thousands)	2019		2018		2017
Depreciation and amortization	$	24,778	$	26,793	$	25,825
Capital expenditures	15,450		29,244		19,045
Impairment of intangible assets	5,736		182,211		—
Impairment of long-lived assets	1,670		1,007		5,052

Accrued provision for discontinued operations

Accrued Provision for Discontinued Operations
In thousands	Facility Shutdown Costs
Balance January 30, 2016	$	15,619
Additional provision Fiscal 2017	701
Charges and adjustments, net	(11,277		)
Balance January 28, 2017	5,043
Additional provision Fiscal 2018	552
Charges and adjustments, net	(1,986		)
Balance February 3, 2018	3,609
Additional provision Fiscal 2019	743
Charges and adjustments, net	(1,953		)
Balance February 2, 2019(1)	2,399
Current provision for discontinued operations	553
Total Noncurrent Provision forDiscontinued Operations	$	1,846

⁽¹⁾Includes a $1.8 million environmental provision, including $0.6 million in current provision for discontinued operations.