Acquisition of Rogan Shoes (Tables)

3 Months Ended

May 04, 2024

Business Combination and Asset Acquisition [Abstract]

Summary of Preliminary Purchase Price and Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary purchase price and the allocation of the preliminary purchase price to the fair value of the assets acquired and liabilities assumed. We measured these fair values using Level 3 inputs. The excess purchase price over the fair value of net assets acquired was allocated to Goodwill. The allocation of the purchase price shown in the table below is preliminary and subject to change based on the finalization of our detailed valuations and any subsequent change in the purchase price. The final determination of the fair values and related impacts will be completed as soon as practicable and within the measurement period of up to one year from the acquisition date.

(In thousands)
Preliminary purchase price:
Cash consideration, net of cash acquired	$	44,577
Fair value of contingent consideration		3,600
Total preliminary purchase price	$	48,177
Fair value of identifiable assets and liabilities:
Accounts receivable	$	2,371
Merchandise inventories		41,954
Other assets		2,892
Operating lease right-of-use assets		16,891
Identifiable intangible assets		8,400
Goodwill		3,200
Total assets	$	75,708
Accounts payable		6,308
Operating lease liabilities		19,843
Accrued and other liabilities		1,380
Total liabilities	$	27,531
Total fair value allocation of preliminary purchase price	$	48,177