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
6 Months Ended
Aug. 03, 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, net 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 August 3, 2019, August 4, 2018 and February 2, 2019 (in thousands):

August 3,

August 4,

February 2,

    

2019

    

2018

    

2019

 

Prepaid expenses

$

41,032

$

57,197

$

56,361

Tax receivable

11,404

17,401

584

Other

 

11,446

 

12,893

 

13,767

Total other current assets

$

63,882

$

87,491

$

70,712

The decrease in prepaid expenses as of August 3, 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 August 3, 2019, August 4, 2018 and February 2, 2019 (in thousands):

    

August 3,

    

August 4,

    

February 2,

 

2019

2018

2019

Customer deposits, prepayments and refunds payable

$

65,280

$

66,261

$

40,620

Accrued salary, bonus, sabbatical, vacation and other benefits

61,946

69,839

81,503

Loyalty program liabilities

 

44,273

 

63,295

 

44,434

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

28,144

24,197

25,547

Unredeemed gift cards

26,438

28,152

32,178

Accrued workers compensation and medical costs

 

23,266

 

26,146

 

23,974

Accrued dividends

 

10,046

 

10,918

 

10,480

Unrealized loss on interest rate swaps

5,304

1,735

1,625

Accrued interest

 

2,011

 

2,379

 

1,828

Accrued royalties

1,532

1,398

1,286

Other

 

21,570

 

18,999

 

18,554

Total accrued expenses and other current liabilities

$

289,810

$

313,319

$

282,029

The following table provides details on our deferred taxes, net and other liabilities as of August 3, 2019, August 4, 2018 and February 2, 2019 (in thousands):

August 3,

    

August 4,

February 2,

    

2019

    

2018

    

2019

 

Deferred and other income tax liabilities, net

$

49,846

$

80,413

$

53,479

Unrealized loss on interest rate swaps

24,949

7,605

Deferred rent and landlord incentives

58,801

57,505

Unfavorable lease liabilities

2,357

1,797

Other

 

3,166

 

4,913

 

4,636

Total deferred taxes, net and other liabilities

$

77,961

$

146,484

$

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.