XML 25 R39.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Summary of Significant Accounting Policies Impact from Adoption of New Lease Accounting Standards (Details) - USD ($)
$ in Thousands
Nov. 02, 2019
Aug. 03, 2019
Feb. 03, 2019
Feb. 02, 2019
Nov. 03, 2018
Aug. 04, 2018
Feb. 03, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Cash and equivalents $ 410,775   $ 723,135 [1] $ 723,135 $ 520,523   $ 675,558
Receivables 92,736   73,112 [1] 73,112      
Inventories 590,883   437,879 [1] 437,879      
Other current assets (2) 86,275   70,514 [1] 101,824      
Total current assets 1,180,669   1,304,640 [1] 1,335,950      
Property and equipment, net (3) 665,862   648,231 [1] 694,855      
Operating lease right-of-use assets (2) 1,223,512   1,234,515 [1] 0      
Other assets (2) (5) 415,962   370,341 [1] 354,788      
Total assets 3,486,005   3,557,727 [1] 2,385,593      
Accounts payable 269,578   226,878 [1] 226,878      
Accrued expenses (2) 269,334   280,071 [1] 293,579      
Short-term portion of operating lease liabilities (4) 284,694   280,108 [1] 0      
Short-term portion of deferred lease credits (2) 13,728   0 [1] 19,558      
Income taxes payable 0   18,902 [1] 18,902      
Total current liabilities 837,334   805,959 [1] 558,917      
Long-term portion of operating lease liabilities (4) 1,234,502   1,193,946 [1] 0      
Long-term portion of borrowings, net 241,343   250,439 [1] 250,439      
Long-term portion of deferred lease credits (2) 0   0 [1] 76,134      
Leasehold financing obligations (3) 0   0 [1] 46,337      
Other liabilities (2) (5) 178,460   163,927 [1] 235,145      
Total long-term liabilities 1,654,305   1,608,312 [1] 608,055      
Class A Common Stock 1,033   1,033 [1] 1,033      
Paid-in capital 399,981   405,379 [1] 405,379      
Retained earnings (6) 2,244,150   2,343,379 [1] 2,418,544      
Accumulated other comprehensive loss, net of tax (108,245) $ (105,946) (102,452) [1] (102,452) (98,668) $ (94,892) (95,054)
Treasury stock, at average cost 1,553,407   1,513,604 [1] 1,513,604      
Total Abercrombie & Fitch Co. stockholders’ equity 983,512   1,133,735 [1] 1,208,900      
Noncontrolling interests 10,854   9,721 [1] 9,721      
Total stockholders' equity 994,366 $ 1,003,295 1,143,456 [1] 1,218,621 $ 1,134,290 $ 1,147,384 $ 1,252,471
Total liabilities and stockholders’ equity $ 3,486,005   3,557,727 [1] $ 2,385,593      
Accounting Standards Update 2016-02 [Member]              
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Cash and equivalents     0        
Receivables     0        
Inventories     0        
Other current assets (2) [2]     (31,310)        
Total current assets     (31,310)        
Property and equipment, net (3) [3]     (46,624)        
Operating lease right-of-use assets (2) [2]     1,234,515        
Other assets (2) (5) [2],[4]     15,553        
Total assets     1,172,134        
Accounts payable     0        
Accrued expenses (2) [2]     (13,508)        
Short-term portion of operating lease liabilities (4) [5]     280,108        
Short-term portion of deferred lease credits (2)     (19,558)        
Income taxes payable     0        
Total current liabilities     247,042        
Long-term portion of operating lease liabilities (4) [5]     1,193,946        
Long-term portion of borrowings, net     0        
Long-term portion of deferred lease credits (2) [2]     (76,134)        
Leasehold financing obligations (3) [3]     (46,337)        
Other liabilities (2) (5) [2],[4]     (71,218)        
Total long-term liabilities     1,000,257        
Class A Common Stock     0        
Paid-in capital     0        
Retained earnings (6) [6]     (75,165)        
Accumulated other comprehensive loss, net of tax     0        
Treasury stock, at average cost     0        
Total Abercrombie & Fitch Co. stockholders’ equity     (75,165)        
Noncontrolling interests     0        
Total stockholders' equity     (75,165)        
Total liabilities and stockholders’ equity     $ 1,172,134        
[1]
Amounts under “Upon adoption on February 3, 2019 (under new lease accounting standard),” are calculated as February 2, 2019 reported balances adjusted for the impact of adoption on the first day of Fiscal 2019, February 3, 2019.
[2]
Upon adoption, the Company recognized assets for the rights to use its operating leases on the Condensed Consolidated Balance Sheet. In conjunction with this recognition, the Company reclassified amounts to operating lease right-of-use assets including: short-term prepaid rent from other current assets; key money, long-term prepaid rent and leasehold acquisition costs from other assets; short-term and long-term portions of deferred lease credits; accrued rent and accrued straight-line rent from accrued expenses and other liabilities, respectively.
[3]
Upon adoption, the Company derecognized construction project assets and related leasehold financing obligations that previously failed to qualify for sale and leaseback accounting. In certain instances, these construction project assets had shielded other assets included within their respective asset groups from impairment, as the fair value of the construction project assets had exceeded the carrying values of their respective asset groups. In such instances, the Company recognized impairment of certain leasehold improvements and store assets upon adoption.
[4]
Upon adoption, the Company established net deferred tax assets for operating lease right-of-use assets and operating lease liabilities.
[5]
Upon adoption, the Company recognized operating lease liabilities on the Condensed Consolidated Balance Sheet.
[6]
Upon adoption, the Company recognized a cumulative adjustment decreasing the opening balance of retained earnings, primarily related to right-of-use asset impairment charges for certain of the Company’s stores where it was previously determined that the carrying value of assets was not recoverable, partially offset by benefits to retained earnings to establish net deferred tax assets and a net gain resulting from the derecognition of certain leased building assets and related leasehold financing obligations that previously failed to qualify for sale and leaseback accounting.