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Segment Reporting (Tables)
3 Months Ended
May 05, 2018
Segment Reporting [Abstract]  
Summary of Statements of Operations Metrics Reviewed by CODM to Evaluate Performance Internally or As required under ASC 280 - Segment Reporting

The following table presents the statements of operations metrics reviewed by the CODM to evaluate performance internally or as required under ASC 280—Segment Reporting (in thousands):

 

 

 

Three Months Ended

 

 

 

May 5,

 

 

April 29,

 

 

 

2018

 

 

2017

 

 

 

RH Segment

 

 

Waterworks

 

 

Total

 

 

RH Segment

 

 

Waterworks

 

 

Total

 

Net revenues

 

$

526,007

 

 

$

31,399

 

 

$

557,406

 

 

$

533,528

 

 

$

28,552

 

 

$

562,080

 

Gross profit

 

 

199,035

 

 

 

13,000

 

 

 

212,035

 

 

 

159,627

 

 

 

10,629

 

 

 

170,256

 

Depreciation and amortization

 

 

15,935

 

 

 

1,112

 

 

 

17,047

 

 

 

14,901

 

 

 

1,119

 

 

 

16,020

 

 

Summary of Balance Sheet Metrics as Required Under ASC 280 - Segment Reporting

The following table presents the balance sheet metrics as required under ASC 280—Segment Reporting (in thousands):

 

 

 

May 5,

 

 

February 3,

 

 

 

2018

 

 

2018

 

 

 

RH Segment

 

 

Waterworks

 

 

Total

 

 

RH Segment

 

 

Waterworks

 

 

Total

 

Goodwill (1)

 

$

124,404

 

 

$

17,445

 

 

$

141,849

 

 

$

124,448

 

 

$

17,445

 

 

$

141,893

 

Trademarks and domain names

 

 

48,563

 

 

 

52,100

 

 

 

100,663

 

 

 

48,563

 

 

 

52,100

 

 

 

100,663

 

Total assets

 

 

1,621,817

 

 

 

127,144

 

 

 

1,748,961

 

 

 

1,608,290

 

 

 

124,576

 

 

 

1,732,866

 

 

 

(1)

The Waterworks reporting unit goodwill is presented net of an impairment charge of $33.7 million, which was recorded in fiscal 2017.

Schedule of Segment Operating Income (Loss) and Income (Loss) Before Tax

The following table presents segment operating income (loss) and income (loss) before tax (in thousands):

 

 

 

Three Months Ended

 

 

 

May 5,

 

 

April 29,

 

 

 

2018

 

 

2017

 

Operating income (loss):

 

 

 

 

 

 

 

 

RH Segment

 

$

53,896

 

 

$

10,058

 

Waterworks

 

 

(516

)

 

 

(1,782

)

Distribution center closures

 

 

2,072

 

 

 

 

Recall accrual

 

 

254

 

 

 

 

Post-acquisition related legal costs

 

 

(1,915

)

 

 

 

Impact of inventory step-up

 

 

(190

)

 

 

(1,380

)

Operating income

 

 

53,601

 

 

 

6,896

 

Interest expense—net

 

 

17,035

 

 

 

12,179

 

Income (loss) before tax

 

$

36,566

 

 

$

(5,283

)

 

Net Revenues

Net revenues in each category were as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

May 5,

 

 

April 29,

 

 

 

2018

 

 

2017

 

Furniture

 

$

352,646

 

 

$

352,956

 

Non-furniture

 

 

204,760

 

 

 

209,124

 

Total net revenues

 

$

557,406

 

 

$

562,080