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Acquisition | 9 Months Ended
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Nov. 02, 2019
Business Combinations [Abstract] |
Business Combination Disclosure [Text Block] | Acquisition On March 4, 2019, the Company acquired select assets of Gymboree, Inc. related to Janie and Jack, a premium children's clothing brand, through a bankruptcy auction. We purchased intellectual property and property and equipment at the Janie and Jack store locations. We assumed the leases for the majority of Janie and Jack stores and entered into a separate transaction to purchase Janie and Jack inventory. The purchase price for the net assets acquired was $69 million. The total purchase price was allocated to the net tangible and intangible assets acquired based on their estimated fair values. Such estimated fair values require management to make estimates and judgments, especially with respect to intangible assets. Amounts recorded for assets acquired and liabilities assumed on the acquisition date were as follows:
($ in millions) | As of March 4, 2019
Inventory | $ | 34 |
Property and equipment | 15 |
Operating lease assets | 51 |
Intangible assets | 37 |
Net assets acquired | 137 |
Operating lease liabilities | (64 | )
Other liabilities | (4 | )
Total consideration paid | $ | 69 |
The results of operations for Janie and Jack since the date of acquisition were not material to our net income.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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