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Impairment, Restructuring and COVID-19 Related Charges (Tables)
 12 Months Ended
Jan. 29, 2022
Restructuring and Related Activities [Abstract]  
Summary of Impairment,Restructuring and COVID-19 Related Charges

The following table represents impairment, restructuring and COVID-19 related charges. All amounts were recorded within impairment, restructuring and COVID-19 related charges on the Consolidated Statements of Operations, unless otherwise noted.

 

 

For the years ended

 

 

 

January 29,

 

 

January 30,

 

 

February 1,

 

(In thousands)

 

2022

 

 

2021

 

 

2020

 

Long-lived asset Impairment charges (1)

 

$

11,944

 

 

$

249,163

 

 

$

66,252

 

Incremental COVID-19 related expenses(2)

 

 

—

 

 

 

26,930

 

 

 

—

 

Severance and related employee
   costs

 

 

—

 

 

 

3,733

 

 

 

6,691

 

Other restructuring charges(3)

 

 

—

 

 

 

—

 

 

 

7,551

 

Total impairment, restructuring, and COVID-19 related
   charges

 

$

11,944

 

 

$

279,826

 

 

$

80,494

 

 

 

(1)
The Company recorded impairment charges of $11.9 million in Fiscal 2021, primarily related to store property and equipment and operating lease ROU assets.

 

(2)
In Fiscal 2020, the Company recorded impairment charges of $249.2 million. Included in this amount are retail store impairment charges of $203.2 million, of which $154.8 million relates to operating lease ROU assets and $48.4 million relates to store property and equipment (fixtures and equipment and leasehold improvements). We also recorded $28.0 million related to the impairment of certain corporate property and equipment, as well as $18.0 million of certain cost and equity method investments.

 

(3)
In Fiscal 2019, the Company recorded asset impairment charges of $64.5 million on the assets of 20 retail stores. Of the total, $39.5 million related to the impairment of leasehold improvements and store fixtures, and $25.0 million related to the impairment of operating lease ROU assets. The Company also concluded that certain goodwill was impaired resulting in a $1.7 million charge in Fiscal 2019.

 

(4)
Incremental COVID-19 related expenses consisting of personal protective equipment and supplies for our associates and customers.

 

(5)
Other restructuring charges consists of $4.2 million of joint business venture exit charges, $1.8 million of Japan market transition costs and $1.5 million of China restructuring in Fiscal 2019.
Rollforward of Restructuring Liabilities Recognized in Consolidated Balance Sheet

A rollforward of the restructuring liabilities recognized in the Consolidated Balance Sheet is as follows:

 

 

 

 

 

January 29,

 

(In thousands)

 

 

 

2022

 

Accrued liability as of January 30, 2021

 

 

 

$

2,812

 

Add: Costs incurred, excluding non-cash
   charges

 

 

 

 

1,367

 

Less: Cash payments and adjustments

 

 

 

 

(2,812

)

Accrued liability as of January 29, 2022

 

 

 

$

1,367