Fair Value Measurements (Tables)

3 Months Ended

May 02, 2020

Quantitative Information on Level 3 Fair Value Measurement

The following tables presents quantitative information about the Level 3 significant unobservable inputs for the WHBM trademark measured at fair value as of April 4, 2020 and long-lived assets at retail stores as of May 2, 2020.

Quantitative Information about Level 3 Fair Value Measurements



	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)

WHBM Trademark	$	6,000	Relief from royalty	Weighted-average cost of capital	11% to 13%
				Long-term revenue growth rate	-2.5% to 0%
Long-lived assets at retail stores	$	1,232	Discounted cash flow	Weighted-average cost of capital	9.5 % to 11.5 %
				Long-term revenue growth rate	-10% to 15%

Schedule of Financial Assets Valued on a Recurring Basis

In accordance with the provisions of the guidance, we categorized our financial assets and liabilities which are valued on a recurring and nonrecurring basis, based on the priority of the inputs to the valuation technique for the instruments, as follows:



			Fair Value Measurements at the End of the Reporting Date Using						Thirteen Weeks Ended May 2, 2020
	Balance as of May 2, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Impairment
Recurring fair value measurements:
Current Assets
Cash equivalents:
Money market accounts	$	27,320	$	27,320	$	—	$	—
Marketable securities:
Corporate bonds	27,755		—		27,755		—
Noncurrent Assets
Deferred compensation plan	6,983		6,983		—		—
Total recurring fair value measurements	$	62,058	$	34,303	$	27,755	$	—
Nonrecurring fair value measurements:
Noncurrent Assets
Goodwill	$	16,360	$	—	$	—	$	16,360	$	(80,414	)
Trademark	6,000		—		—		6,000		(28,000		)
Long-lived assets at retail stores ⁽¹⁾	1,232		—		—		1,232		(18,493		)
Total nonrecurring fair value measurements	$	23,592	$	—	$	—	$	23,592	$	(126,907	)

	Balance as of February 1, 2020
Recurring fair value measurements:
Current Assets
Cash equivalents:
Money market accounts	$	621	$	621	$	—	$	—
Marketable securities:
Corporate bonds	62,645		—		62,645		—
Commercial paper	1,248		—		1,248		—
Noncurrent Assets
Deferred compensation plan	7,464		7,464		—		—
Total recurring fair value measurements	$	71,978	$	8,085	$	63,893	$	—

	Balance as of May 4, 2019
Financial Assets:
Current Assets
Cash equivalents:
Money market accounts	$	328	$	328	$	—	$	—
Marketable securities:
Corporate bonds	59,893		—		59,893		—
Commercial paper	2,943		—		2,943		—
Noncurrent Assets
Deferred compensation plan	6,872		6,872		—		—
Total recurring fair value measurements	$	70,036	$	7,200	$	62,836	$	—

⁽¹⁾ The fair value of long-lived assets at retail stores of $1.2 million specifically relates to only those stores which had store impairment charges during the thirteen weeks ended May 2, 2020.