XML 14 R45.htm IDEA: XBRL DOCUMENT v3.20.1
Notes Payable - Textuals (Detail)
$ in Thousands, € in Millions
1 Months Ended 3 Months Ended
Dec. 01, 2016
USD ($)
Jun. 08, 2020
USD ($)
May 31, 2020
USD ($)
Apr. 30, 2020
EUR (€)
Apr. 30, 2020
USD ($)
Apr. 30, 2019
USD ($)
Feb. 03, 2020
EUR (€)
Apr. 15, 2019
EUR (€)
Debt Instrument [Line Items]                
Repayment of borrowings - revolving facility         $ 355,477 $ 482,496    
Senior secured term loan facility (the "Term Loan")                
Debt Instrument [Line Items]                
Principal amount of debt         350,000      
Prepayment of principal amount $ 50,000              
Debt instruments, carrying value         $ 300,000      
Loan description       The Term Loan contains covenants that, among other things, restrict the Company’s ability, subject to certain exceptions, to incur additional debt; incur liens; sell or dispose of certain assets; merge with other companies; liquidate or dissolve the Company; acquire other companies; make loans, advances, or guarantees; and make certain investments. This loan also includes a mandatory prepayment provision based on excess cash flow as defined in the term loan agreement. A first lien leverage covenant requires the Company to maintain a level of debt to EBITDA at a ratio as defined in the term loan agreement. The Term Loan contains covenants that, among other things, restrict the Company’s ability, subject to certain exceptions, to incur additional debt; incur liens; sell or dispose of certain assets; merge with other companies; liquidate or dissolve the Company; acquire other companies; make loans, advances, or guarantees; and make certain investments. This loan also includes a mandatory prepayment provision based on excess cash flow as defined in the term loan agreement. A first lien leverage covenant requires the Company to maintain a level of debt to EBITDA at a ratio as defined in the term loan agreement.      
Debt covenant compliance       As of April 30, 2020, the Company was in compliance with these covenants. As of April 30, 2020, the Company was in compliance with these covenants.      
Interest rate terms       Interest on the outstanding principal amount of the Term Loan accrues at a rate equal to the London Interbank Offered Rate (“LIBOR”), subject to a 1% floor, plus an applicable margin of 5.25% or an alternate base rate (defined as the greatest of (i) the “prime rate” as published by the Wall Street Journal from time to time, (ii) the federal funds rate plus 0.5% or (iii) the LIBOR rate for a borrowing with an interest period of one month) plus 4.25%, per annum, payable in cash. As of April 30, 2020, interest under the Term Loan was being paid at a weighted average rate of 6.66% per annum. Interest on the outstanding principal amount of the Term Loan accrues at a rate equal to the London Interbank Offered Rate (“LIBOR”), subject to a 1% floor, plus an applicable margin of 5.25% or an alternate base rate (defined as the greatest of (i) the “prime rate” as published by the Wall Street Journal from time to time, (ii) the federal funds rate plus 0.5% or (iii) the LIBOR rate for a borrowing with an interest period of one month) plus 4.25%, per annum, payable in cash. As of April 30, 2020, interest under the Term Loan was being paid at a weighted average rate of 6.66% per annum.      
Floor rate       1.00% 1.00%      
Applicable margin       5.25% 5.25%      
Debt instrument interest rate         6.66%      
Senior secured term loan facility (the "Term Loan") | LIBOR plus                
Debt Instrument [Line Items]                
Spread interest rate       4.25% 4.25%      
Senior secured term loan facility (the "Term Loan") | Federal funds rate plus                
Debt Instrument [Line Items]                
Spread interest rate       0.50% 0.50%      
Revolving credit facility                
Debt Instrument [Line Items]                
Maturity date       Dec. 01, 2021 Dec. 01, 2021      
Loan description       The revolving credit facility contains covenants that, among other things, restrict the Company’s ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of certain assets; merge with other companies; liquidate or dissolve the Company; acquire other companies; make loans, advances, or guarantees; and make certain investments. In certain circumstances, the revolving credit facility also requires the Company to maintain a fixed charge coverage ratio, as defined in the agreement, not less than 1.00 to 1.00 for each period of twelve consecutive fiscal months of the Company. The revolving credit facility contains covenants that, among other things, restrict the Company’s ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of certain assets; merge with other companies; liquidate or dissolve the Company; acquire other companies; make loans, advances, or guarantees; and make certain investments. In certain circumstances, the revolving credit facility also requires the Company to maintain a fixed charge coverage ratio, as defined in the agreement, not less than 1.00 to 1.00 for each period of twelve consecutive fiscal months of the Company.      
Debt covenant compliance       As of April 30, 2020, the Company was in compliance with these covenants. As of April 30, 2020, the Company was in compliance with these covenants.      
Minimum fixed charge coverage ratio       100.00% 100.00%      
Maximum borrowing amount         $ 650,000      
Credit agreement average rate         2.13%      
Debt instrument commitment fee percentage       0.25% 0.25%      
Term of credit agreement       5 years 5 years      
Revolving credit facility | Long term liabilities                
Debt Instrument [Line Items]                
Borrowings outstanding         $ 500,000      
Revolving credit facility | Trade Letters of Credit                
Debt Instrument [Line Items]                
Borrowings outstanding         10,500      
Revolving credit facility | Standby Letters of Credit                
Debt Instrument [Line Items]                
Borrowings outstanding         $ 5,200      
Revolving credit facility | LIBOR plus | Minimum                
Debt Instrument [Line Items]                
Spread interest rate       1.25% 1.25%      
Revolving credit facility | LIBOR plus | Maximum                
Debt Instrument [Line Items]                
Spread interest rate       1.75% 1.75%      
Revolving credit facility | Federal funds rate plus                
Debt Instrument [Line Items]                
Spread interest rate       0.50% 0.50%      
Revolving credit facility | London Interbank Offered Rate (LIBOR) Swap Rate [Member] | Minimum                
Debt Instrument [Line Items]                
Spread interest rate       0.25% 0.25%      
Revolving credit facility | London Interbank Offered Rate (LIBOR) Swap Rate [Member] | Maximum                
Debt Instrument [Line Items]                
Spread interest rate       0.75% 0.75%      
LVMH Note                
Debt Instrument [Line Items]                
Principal amount of debt         $ 125,000      
Debt instrument interest rate         2.00%      
Debt discount         $ 40,000      
LVMH Note | Notes Payable Due On June 1 2023                
Debt Instrument [Line Items]                
Principal amount of debt         $ 75,000      
Maturity date       Jun. 01, 2023 Jun. 01, 2023      
LVMH Note | Notes Payable due on December 1, 2023                
Debt Instrument [Line Items]                
Principal amount of debt         $ 50,000      
Maturity date       Dec. 01, 2023 Dec. 01, 2023      
Unsecured Loan | Unsecured Loan 2019 [Member]                
Debt Instrument [Line Items]                
Principal amount of debt | €               € 3.0
Maturity date       Sep. 15, 2024 Sep. 15, 2024      
Debt instrument interest rate         1.50%      
Installment payments | €       € 0.2        
Unsecured Loan | Unsecured Loan 2020 [Member]                
Debt Instrument [Line Items]                
Principal amount of debt | €             € 1.7  
Maturity date       Jun. 30, 2025 Jun. 30, 2025      
Debt instrument interest rate         1.50%      
Installment payments | €       € 0.1        
Subsequent Event                
Debt Instrument [Line Items]                
Repayment of borrowings - revolving facility   $ 500,000 $ 500,000