Quarterly report pursuant to Section 13 or 15(d)

Other Current Assets, Accrued Expenses and Other Current Liabilities and Deferred Taxes, net and Other Liabilities

v3.19.2
Other Current Assets, Accrued Expenses and Other Current Liabilities and Deferred Taxes, net and Other Liabilities
3 Months Ended
May 04, 2019
Other Current Assets, Accrued Expenses and Other Current Liabilities and Deferred Taxes, net and Other Liabilities  
OTHER CURRENT ASSETS, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES AND DEFERRED TAXES AND OTHER LIABILITIES

9.  Other Current Assets, Accrued Expenses and Other Current Liabilities and Deferred Taxes, net and Other Liabilities 

 

The following table provides details on our other current assets as of May 4, 2019,  May 5, 2018 and February 2, 2019 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May 4,

 

May 5,

 

February 2,

 

 

    

2019

    

2018

    

2019

 

Prepaid expenses

 

$

33,850

 

$

44,438

 

$

56,361

 

Tax receivable

 

 

5,090

 

 

12,814

 

 

584

 

Other

 

 

10,964

 

 

12,685

 

 

13,767

 

Total other current assets

 

$

49,904

 

$

69,937

 

$

70,712

 

 

The decrease in prepaid expenses as of May 4, 2019, is due to the impact on prepaid rent resulting from the adoption of Accounting Standards Codification 842, Leases (“ASC 842”), effective February 3, 2019.  Please see Note 12 for additional information.

 

The following table provides details on our accrued expenses and other current liabilities as of May 4, 2019,  May 5, 2018 and February 2, 2019 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

    

May 4,

    

May 5,

    

February 2,

 

 

 

2019

 

2018

 

2019

 

Customer deposits, prepayments and refunds payable

 

$

85,985

 

$

87,849

 

$

40,620

 

Accrued salary, bonus, sabbatical, vacation and other benefits

 

 

54,528

 

 

56,066

 

 

81,503

 

Loyalty program liabilities

 

 

44,893

 

 

65,597

 

 

44,434

 

Sales, value added, payroll, property and other taxes payable

 

 

37,821

 

 

37,605

 

 

25,547

 

Unredeemed gift cards

 

 

28,352

 

 

29,921

 

 

32,178

 

Accrued workers compensation and medical costs

 

 

22,357

 

 

24,639

 

 

23,974

 

Accrued dividends

 

 

9,993

 

 

10,870

 

 

10,480

 

Accrued interest

 

 

6,241

 

 

10,608

 

 

1,828

 

Accrued royalties

 

 

1,270

 

 

4,009

 

 

1,286

 

Other

 

 

25,381

 

 

23,250

 

 

20,179

 

Total accrued expenses and other current liabilities

 

$

316,821

 

$

350,414

 

$

282,029

 

 

The following table provides details on our deferred taxes, net and other liabilities as of May 4, 2019,  May 5, 2018 and February 2, 2019 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May 4,

    

May 5,

 

February 2,

 

 

    

2019

    

2018

    

2019

 

Deferred and other income tax liabilities, net

 

$

52,948

 

$

83,357

 

$

53,479

 

Deferred rent and landlord incentives

 

 

 —

 

 

58,957

 

 

57,505

 

Unfavorable lease liabilities

 

 

 —

 

 

2,631

 

 

1,797

 

Other

 

 

17,213

 

 

6,558

 

 

12,241

 

Total deferred taxes, net and other liabilities

 

$

70,161

 

$

151,503

 

$

125,022

 

 

The elimination of deferred rent and landlord incentives and unfavorable lease liabilities is due to the adoption of ASC 842, effective February 3, 2019.  Please see Note 12 for additional information.