Impairment, Restructuring and COVID-19 Related Charges

12 Months Ended

Jan. 30, 2021

Restructuring And Related Activities [Abstract]

Impairment, Restructuring and COVID-19 Related Charges

16.  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 30,		February 1,		February 2,
(In thousands)	2021		2020		2019
Long-lived asset Impairment charges (1)	$	249,163	$	66,252	$	—
Incremental COVID-19 related expenses(2)		26,930		—		—
Severance and related employee    costs		3,733		6,691		1,568
Joint business venture exit charges		—		4,194		—
Japan market transition costs		—		1,814		—
China restructuring		—		1,543		—
Total impairment, restructuring, and COVID-19 related    charges	$	279,826	$	80,494	$	1,568

(1) 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. 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.

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

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

	January 30,
(In thousands)	2021
Accrued liability as of February 1, 2020	$	4,187
Add: Costs incurred, excluding non-cash    charges		3,733
Less: Cash payments and adjustments		(5,108	)
Accrued liability as of January 30, 2021	$	2,812

The accrued liability as of February 1, 2020 relates to previous restructuring activities disclosed in the Company’s Fiscal 2019 Form 10-K, which remained unpaid at the beginning of Fiscal 2020.