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Impairment Charges | 12 Months Ended
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Feb. 01, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Impairment Charges | 6. Impairment Charges Impairment charges recorded during Fiscal 2019, Fiscal 2018 and Fiscal 2017 amounted to $4.3 million, $6.8 million and $2.1 million, respectively, and are primarily related to declines in revenues and operating results of the respective stores. Additionally, during Fiscal 2018 and Fiscal 2017, a portion of the impairment related to a decline in the appraised fair value of one of the Company’s owned stores. Impairment charges during these periods related to the following:
|  | (in thousands) |
|  | Fiscal Years Ended |
Asset Categories |  | February 1, 2020 |  |  | February 2, 2019 |  |  | February 3, 2018 (53 Weeks) |
Land |  | $ | 1,604 |  |  | $ | 1,551 |  |  | $ | 247 |
Operating lease assets |  |  | 921 |  |  |  | — |  |  |  | — |
Buildings |  |  | 921 |  |  |  | 1,262 |  |  |  | 227 |
Store fixtures and equipment |  |  | 809 |  |  |  | 878 |  |  |  | 308 |
Leasehold improvements |  |  | 52 |  |  |  | 195 |  |  |  | 306 |
Favorable leases |  |  | — |  |  |  | 2,894 |  |  |  | 836 |
Other assets |  |  | 8 |  |  |  | 64 |  |  |  | 203 |
Total |  | $ | 4,315 |  |  | $ | 6,844 |  |  | $ | 2,127 |
The Company recorded impairment charges related to store-level assets for two stores, as well as the online store, during Fiscal 2019, eight stores during Fiscal 2018 and four stores during Fiscal 2017. Long-lived assets are measured at fair value on a non-recurring basis for purposes of calculating impairment using the fair value hierarchy of ASC Topic No. 820 “Fair Value Measurements” (Topic No. 820). Refer to Note 16, “Fair Value of Financial Instruments,” for further discussion of the Company’s fair value hierarchy. The fair value of the Company’s long-lived assets is calculated using a discounted cash-flow model that used level 3 inputs. In calculating future cash flows, the Company makes estimates regarding future operating results based on its experience and knowledge of market factors in which the retail location is located. The table below sets forth, by level within the fair value hierarchy, the remaining fair value of the two impaired stores as of February 1, 2020:
|  | (in thousands) |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Un- Observable Inputs (Level 3) |  |  | Total |
Land |  | $ | — |  |  | $ | — |  |  | $ | 1,450 |  |  | $ | 1,450 |
Operating lease assets |  |  | — |  |  |  | — |  |  |  | 132 |  |  |  | 132 |
Operating lease liabilities |  |  | — |  |  |  | — |  |  |  | (125 | ) |  |  | (125 | )
Buildings |  |  | — |  |  |  | — |  |  |  | 833 |  |  |  | 833 |
Store fixtures and equipment |  |  | — |  |  |  | — |  |  |  | 148 |  |  |  | 148 |
Leasehold improvements |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 4 |
Other assets |  |  | — |  |  |  | — |  |  |  | 7 |  |  |  | 7 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 2,449 |  |  | $ | 2,449 |

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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- References No definition available. + Details
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