XML 42 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Lease Termination and Impairment Charges
6 Months Ended
Aug. 30, 2014
Lease Termination and Impairment Charges  
Lease Termination and Impairment Charges

4. Lease Termination and Impairment Charges

        Lease termination and impairment charges consist of amounts as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thirteen Week Period
Ended

 

Twenty-Six Week Period
Ended

 

 

 

August 30,
2014

 

August 31,
2013

 

August 30,
2014

 

August 31,
2013

 

Impairment charges

 

$

132 

 

$

265 

 

$

283 

 

$

4,866 

 

Lease termination charges

 

 

6,979 

 

 

11,125 

 

 

11,676 

 

 

17,496 

 

 

 

 

 

 

 

 

 

 

 

​  

 

 

$

7,111 

 

$

11,390 

 

$

11,959 

 

$

22,362 

 

 

 

 

 

 

 

 

 

 

 

​  

​  

 

 

 

 

 

 

 

 

 

 

Impairment Charges

        These amounts include the write-down of long-lived assets at locations that were assessed for impairment because of management's intention to relocate or close the location or because of changes in circumstances that indicated the carrying value of an asset may not be recoverable.

Lease Termination Charges

        As part of the Company's ongoing business activities, the Company assesses stores and distribution centers for potential closure or relocation. Decisions to close or relocate stores or distribution centers in future periods would result in lease termination charges, lease exit costs and inventory liquidation charges, as well as impairment of assets at these locations. The following table reflects the closed store and distribution center charges that relate to new closures, changes in assumptions and interest accretion:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thirteen Week Period
Ended

 

Twenty-Six Week Period
Ended

 

 

 

August 30,
2014

 

August 31,
2013

 

August 30,
2014

 

August 31,
2013

 

Balance—beginning of period

 

$

270,322

 

$

312,011

 

$

284,270

 

$

323,758

 

Provision for present value of noncancellable lease payments of closed stores

 

 

294

 

 

5,981

 

 

436

 

 

6,374

 

Changes in assumptions about future sublease income, terminations and changes in interest rates

 

 

1,844

 

 

(308

)

 

1,417

 

 

213

 

Interest accretion

 

 

4,845

 

 

5,452

 

 

9,827

 

 

10,909

 

Cash payments, net of sublease income

 

 

(16,175

)

 

(19,499

)

 

(34,820

)

 

(37,617

)

 

 

 

 

 

 

 

 

 

 

​  

Balance—end of period

 

$

261,130

 

$

303,637

 

$

261,130

 

$

303,637

 

 

 

 

 

 

 

 

 

 

 

​  

​