| Summary of changes in deferred revenue |
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13 Weeks Ended
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May 4, 2019
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|
May 5, 2018
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|
Beginning balance
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$
|
193,585
|
|
$
|
110,103
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Adoption of ASC 606
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|
—
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|
38,773
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Additions to contract liabilities (1)
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|
71,790
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|
|
85,834
|
|
Deductions to contract liabilities (2)
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|
(91,454)
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|
|
(104,119)
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|
Ending balance
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$
|
173,921
|
|
$
|
130,591
|
|
| Schedule of the impact to the Company's opening consolidated balance sheet |
The impact to the Company’s opening consolidated balance sheet as of February 3, 2019 was as follows:
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As Reported
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Effect of Adopting
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Balance at
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(In thousands)
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|
February 2, 2019
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|
ASC 842
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|
February 3, 2019
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Assets
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|
|
|
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(Unaudited)
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|
Receivables, net
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|
$
|
136,168
|
|
$
|
(17,468)
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|
$
|
118,700
|
|
Prepaid expenses and other current assets
|
|
|
138,116
|
|
|
(25,260)
|
|
|
112,856
|
|
Property and equipment, net
|
|
|
1,226,029
|
|
|
(16,983)
|
|
|
1,209,046
|
|
Operating lease assets
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|
|
—
|
|
|
1,460,866
|
|
|
1,460,866
|
|
Liabilities and stockholders’ equity
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|
|
|
|
|
|
|
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|
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Accrued liabilities
|
|
|
220,666
|
|
|
(1,460)
|
|
|
219,206
|
|
Current operating lease liabilities
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|
|
—
|
|
|
210,721
|
|
|
210,721
|
|
Deferred rent
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|
|
434,980
|
|
|
(434,980)
|
|
|
—
|
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Non-current operating lease liabilities
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|
|
—
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|
|
1,629,249
|
|
|
1,629,249
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|
Retained earnings
|
|
|
1,105,863
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|
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(2,375)
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|
|
1,103,488
|
|