Variable Interest Entities (Tables)

6 Months Ended

Aug. 03, 2013

Impact of Variable Interest Entities on Condensed Consolidating Balance Sheets and Condensed Consolidating Statements of Operations

The following tables reflect the impact of the VIEs on the condensed consolidated balance sheets as of August 3, 2013, February 2, 2013 and July 28, 2012 and the condensed consolidated statements of operations for the 13 and 26 weeks ended August 3, 2013 and July 28, 2012 (in thousands):

Condensed Consolidating Balance Sheets

	August 3, 2013
	Balance Before Consolidation of VIEs		VIEs		Eliminations			As Reported
Cash and cash equivalents	$	20,677	$	6,154	$	—		$	26,831
Other current assets		295,780		6,554		(1,941	)		300,393
Total current assets		316,457		12,708		(1,941	)		327,224
Non-current assets		1,725,168		3,169		—			1,728,337
Total assets	$	2,041,625	$	15,877	$	(1,941	)	$	2,055,561
Current liabilities	$	189,637	$	6,850	$	(1,746	)	$	194,741
Non-current liabilities		1,422,337		229		—			1,422,566
Total liabilities		1,611,974		7,079		(1,746	)		1,617,307
Total stockholders’ equity		429,651		—		(195	)		429,456
Noncontrolling interest		—		8,798		—			8,798
Total liabilities and stockholders’ equity	$	2,041,625	$	15,877	$	(1,941	)	$	2,055,561
	February 2, 2013
	Balance Before Consolidation of VIEs		VIEs		Eliminations			As Reported
Cash and cash equivalents	$	27,223	$	6,105	$	—		$	33,328
Other current assets		276,121		5,448		(4,465	)		277,104
Total current assets		303,344		11,553		(4,465	)		310,432
Non-current assets		1,730,865		1,916		—			1,732,781
Total assets	$	2,034,209	$	13,469	$	(4,465	)	$	2,043,213
Current liabilities	$	175,555	$	9,244	$	(4,223	)	$	180,576
Non-current liabilities		1,420,870		130		—			1,421,000
Total liabilities		1,596,425		9,374		(4,223	)		1,601,576
Total stockholders’ equity		437,784		—		(242	)		437,542
Noncontrolling interest		—		4,095		—			4,095
Total liabilities and stockholders’ equity	$	2,034,209	$	13,469	$	(4,465	)	$	2,043,213

	July 28, 2012
	Balance Before Consolidation of VIEs		VIEs		Eliminations			As Reported
Cash and cash equivalents	$	46,973	$	7,582	$	—		$	54,555
Other current assets		295,091		4,012		(2,600	)		296,503
Total current assets		342,064		11,594		(2,600	)		351,058
Non-current assets		1,740,298		1,078		—			1,741,376
Total assets	$	2,082,362	$	12,672	$	(2,600	)	$	2,092,434
Current liabilities	$	169,413	$	7,950	$	(2,493	)	$	174,870
Non-current liabilities		1,473,671		78		—			1,473,749
Total liabilities		1,643,084		8,028		(2,493	)		1,648,619
Total stockholders’ equity		439,278		—		(107	)		439,171
Noncontrolling interest		—		4,644		—			4,644
Total liabilities and stockholders’ equity	$	2,082,362	$	12,672	$	(2,600	)	$	2,092,434

Condensed Consolidating Statements of Operations

	For the 13 Weeks Ended August 3, 2013
	Balance Before Consolidation of VIEs			VIEs			Eliminations			As Reported
Net sales	$	287,145		$	4,998		$	(1,227	)	$	290,916
Cost of goods sold		(182,693	)		(1,341	)		204			(183,830	)
Operating expenses		(99,131	)		(3,930	)		1,038			(102,023	)
Operating income (loss)		5,321			(273	)		15			5,063
Other non-operating (expense) income		(20,540	)		23			—			(20,517	)
Loss before income taxes		(15,219	)		(250	)		15			(15,454	)
Income tax benefit		5,854			275			—			6,129
Net (loss) income		(9,365	)		25			15			(9,325	)
Net income attributable to noncontrolling interest		—			(25	)		—			(25	)
Net loss attributable to The Gymboree Corporation	$	(9,365	)	$	—		$	15		$	(9,350	)
	For the 13 Weeks Ended July 28, 2012
	Balance Before Consolidation of VIEs			VIEs			Eliminations			As Reported
Net sales	$	267,491		$	3,056		$	(1,795	)	$	268,752
Cost of goods sold		(178,513	)		(1,202	)		151			(179,564	)
Operating expenses		(94,308	)		(2,965	)		1,678			(95,595	)
Operating loss		(5,330	)		(1,111	)		34			(6,407	)
Other non-operating (expense) income		(21,201	)		29			—			(21,172	)
Loss before income taxes		(26,531	)		(1,082	)		34			(27,579	)
Income tax benefit		13,229			284			—			13,513
Net loss		(13,302	)		(798	)		34			(14,066	)
Net loss attributable to noncontrolling interest		—			798			—			798
Net loss attributable to The Gymboree Corporation	$	(13,302	)	$	—		$	34		$	(13,268	)

	For the 26 weeks Ended August 3, 2013
	Balance Before Consolidation of VIEs			VIEs			Eliminations			As Reported
Net sales	$	576,625			9,632			(2,558	)	$	583,699
Cost of goods sold		(353,475	)		(2,571	)		406			(355,640	)
Operating expenses		(200,762	)		(7,576	)		2,186			(206,152	)
Operating income (loss)		22,388			(515	)		34			21,907
Other non-operating (expense) income		(41,023	)		154			—			(40,869	)
Loss before income taxes		(18,635	)		(361	)		34			(18,962	)
Income tax benefit		6,715			74			—			6,789
Net loss		(11,920	)		(287	)		34			(12,173	)
Net loss attributable to noncontrolling interest		—			287			—			287
Net loss attributable to The Gymboree Corporation	$	(11,920	)	$	—		$	34		$	(11,886	)
	For the 26 weeks Ended July 28, 2012
	Balance Before Consolidation of VIEs			VIEs			Eliminations			As Reported
Net sales	$	565,422			5,199			(4,118	)	$	566,503
Cost of goods sold		(354,562	)		(1,444	)		515			(355,491	)
Operating expenses		(185,202	)		(5,620	)		3,488			(187,334	)
Operating income (loss)		25,658			(1,865	)		(115	)		23,678
Other non-operating (expense) income		(44,090	)		16			—			(44,074	)
Loss before income taxes		(18,432	)		(1,849	)		(115	)		(20,396	)
Income tax benefit		10,275			225			—			10,500
Net loss		(8,157	)		(1,624	)		(115	)		(9,896	)
Net loss attributable to noncontrolling interest		—			1,624			—			1,624
Net loss attributable to The Gymboree Corporation	$	(8,157	)	$	—		$	(115	)	$	(8,272	)