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v3.22.1

Segment Reporting (Tables) | 3 Months Ended
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Apr. 30, 2022
Segment Reporting |
Schedule of Segment Operating Income and Income Before Income Taxes | The following table presents segment operating income and income before income taxes: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | THREE MONTHS ENDED
​ | ​ | APRIL 30, | ​ | MAY 1,
​ |  | 2022 |  | 2021
​ | ​ | (in thousands)
Operating income: | ​ | ​ | ​ | ​ | ​ | ​
RH Segment | ​ | $ | 228,545 | ​ | $ | 188,010
Waterworks | ​ |  | 7,985 | ​ |  | 6,242
Employer payroll taxes on option exercise | ​ | ​ | (11,717) | ​ | ​ | —
Professional fee | ​ |  | (7,184) | ​ |  | —
Asset impairments | ​ |  | (5,923) | ​ |  | —
Non-cash compensation | ​ | ​ | (5,858) | ​ | ​ | (5,864)
Recall accrual | ​ |  | (560) | ​ |  | (500)
Income from operations | ​ |  | 205,288 | ​ |  | 187,888
Interest expense—net | ​ |  | 20,855 | ​ |  | 13,308
Loss on extinguishment of debt | ​ |  | 146,116 | ​ |  | 105
Other income—net | ​ | ​ | (343) | ​ | ​ | —
Income before income taxes | ​ | $ | 38,660 | ​ | $ | 174,475
Summary of Statements of Income Metrics Reviewed by CODM to Evaluate Performance Internally or As required under ASC 280 - Segment Reporting | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | THREE MONTHS ENDED
​ | ​ | APRIL 30, | ​ | MAY 1,
​ | ​ | 2022 | ​ | 2021
​ |  | RH SEGMENT |  | WATERWORKS |  | TOTAL |  | RH SEGMENT |  | WATERWORKS |  | TOTAL
​ | ​ | (in thousands)
Net revenues | ​ | $ | 908,948 | ​ | $ | 48,344 | ​ | $ | 957,292 | ​ | $ | 819,823 | ​ | $ | 40,969 | ​ | $ | 860,792
Gross profit | ​ |  | 472,822 | ​ |  | 25,761 | ​ |  | 498,583 | ​ |  | 386,553 | ​ |  | 20,424 | ​ |  | 406,977
Depreciation and amortization | ​ |  | 23,524 | ​ | ​ | 1,234 | ​ |  | 24,758 | ​ |  | 22,680 | ​ |  | 1,206 | ​ |  | 23,886
Summary of Balance Sheet Metrics as Required Under ASC 280 - Segment Reporting | The following table presents the balance sheet metrics as required under ASC 280—Segment Reporting:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | APRIL 30, | ​ | JANUARY 29,
​ | ​ | 2022 | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | REAL ESTATE | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | REAL ESTATE | ​ | ​ | ​
​ |  | RH SEGMENT |  | WATERWORKS |  | DEVELOPMENT |  | TOTAL |  | RH SEGMENT |  | WATERWORKS |  | DEVELOPMENT |  | TOTAL
​ | ​ | (in thousands)
Goodwill(1) | ​ | $ | 141,092 | ​ | $ | — | ​ | $ | — | ​ | $ | 141,092 | ​ | $ | 141,100 | ​ | $ | — | ​ | $ | — | ​ | $ | 141,100
Tradenames, trademarks and other intangible assets(2) | ​ |  | 56,488 | ​ |  | 17,000 | ​ |  | — | ​ |  | 73,488 | ​ |  | 56,161 | ​ |  | 17,000 | ​ |  | — | ​ |  | 73,161
Equity method investments | ​ | ​ | — | ​ | ​ | 520 | ​ | ​ | 100,030 | ​ | ​ | 100,550 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 100,810 | ​ | ​ | 100,810
Total assets | ​ |  | 5,595,677 | ​ |  | 192,230 | ​ |  | 100,030 | ​ |  | 5,887,937 | ​ |  | 5,259,719 | ​ |  | 179,941 | ​ |  | 100,810 | ​ |  | 5,540,470
(1) | The Waterworks reporting unit goodwill of $51 million recognized upon acquisition in fiscal 2016 was fully impaired as of fiscal 2018.
(2) | Presented net of an impairment charge of $35 million recognized in previous fiscal years.
Net Revenues | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | THREE MONTHS ENDED
​ | ​ | APRIL 30, | ​ | MAY 1,
​ |  | 2022 |  | 2021
​ | ​ | (in thousands)
Furniture | ​ | $ | 662,520 | ​ | $ | 580,011
Non-furniture | ​ |  | 294,772 | ​ |  | 280,781
Total net revenues | ​ | $ | 957,292 | ​ | $ | 860,792

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