REVENUE RECOGNITION (Tables)

12 Months Ended

Jan. 31, 2019

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]

The following tables summarize the impact of adopting ASC 606 on the Company’s Consolidated Balance Sheet as of January 31, 2019 and the Company’s Consolidated Statements of Income and Comprehensive Income for the year ended January 31, 2019:


	January 31, 2019
	(In thousands)
	As Reported		Without Adoption of ASC 606		Impact of Adoption of ASC 606
Assets
Accounts receivable	$	502,133	$	322,785	$	179,348
Inventories		576,383		618,902		(42,519)
Prepaid expenses and other current assets		96,933		58,792		38,141
Deferred income tax assets, net		22,427		5,883		16,544

Liabilities
Accrued expenses		(102,841)		(102,425)		(416)
Customer refund liabilities		(243,589)		—		(243,589)

Equity
Retained earnings		(758,881)		(811,372)		52,491


	For the year ended January 31, 2019
	(In thousands, except per share amounts)
	As Reported		Without Adoption of ASC 606		Impact of Adoption of ASC 606
Net sales	$	3,076,208	$	3,099,114	$	(22,906)
Cost of goods sold		1,969,099		1,965,153		3,946
Selling, general and administrative expenses		834,763		863,261		(28,498)
Operating profit		230,714		229,067		1,647
Income tax expense		45,763		45,353		410
Net income		138,067		136,830		1,237

Net income per common share
Basic		2.81		2.78		0.03
Diluted		2.75		2.72		0.03