XML 78 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Discontinued Operations
 9 Months Ended
Oct. 29, 2011
Discontinued Operations [Abstract]  
DISCONTINUED OPERATIONS

14. DISCONTINUED OPERATIONS

 

On June 16, 2009, A&F's Board of Directors approved the closure of the Company's 29 RUEHL branded stores and related direct-to-consumer operations. The Company completed the closure of the RUEHL branded stores and related direct-to-consumer operations during the fourth quarter of Fiscal 2009. Accordingly, the results of operations of RUEHL are reflected in Income from Discontinued Operations, Net of Tax on the Consolidated Statements of Operations and Comprehensive Income for the thirty-nine weeks ended October 29, 2011 and October 30, 2010. Net income for the thirty-nine weeks ended October 29, 2011, included net income per diluted share of $0.01 from discontinued operations related to the settlement of outstanding lease obligations. Results from discontinued operations for the thirty-nine weeks ended October 30, 2010, were immaterial.

 

Costs associated with exit or disposal activities are recorded when the liability is incurred. Below is a roll forward from January 29, 2011 of the liabilities recognized on the Consolidated Balance Sheet as of October 29, 2011 related to the closure of RUEHL branded stores and related direct-to-consumer operations (in millions):

 

  Thirty-Nine Weeks Ended
  October 29, 2011
Beginning Balance$ 17.2
Interest Accretion / Other, Net(1)  (1.3)
Cash Payments  (15.7)
Ending Balance(2)$ 0.2
    
(1) Other includes an accrual adjustment related to the settlement of outstanding lease obligations.
(2) Ending balance reflects the obligations due under signed lease termination agreements. As of October 29, 2011, the entire amount is recorded as a current liability in Accrued Expenses on the Consolidated Balance Sheet.