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Prepaid Expense and Other Assets

12 Months Ended

Jan. 28, 2023

Prepaid Expense and Other Assets

Prepaid Expense and Other Assets

NOTE 4—PREPAID EXPENSE AND OTHER ASSETS

Prepaid expense and other current assets consist of the following:


		JANUARY 28,			JANUARY 29,
		2023			2022

		(in thousands)
Capitalized catalog costs		$	26,522		$	22,194
Prepaid expenses			24,352			31,502
Vendor deposits			21,201			19,610
Federal and state tax receivable⁽¹⁾			12,322			—
Tenant allowance receivable			8,336			15,355
Value added tax (VAT) receivable			7,465			4,529
Right of return asset for merchandise			4,983			6,429
Interest income receivable			4,878			—
Promissory notes receivable, including interest⁽²⁾			2,991			8,401
Other current assets			26,247			13,330
Total prepaid expense and other current assets		$	139,297		$	121,350

(1)	Refer to Note 15—Income Taxes.

(2)	Represents promissory notes, including principal and accrued interest, due from an affiliate of the managing member of the Aspen LLCs (refer to Note 8—Variable Interest Entities).

Other non-current assets consist of the following:


		JANUARY 28,			JANUARY 29,
		2023			2022

		(in thousands)
Initial direct costs prior to lease commencement		$	51,249		$	57,087
Landlord assets under construction—net of tenant allowances			45,511			204,013
Capitalized cloud computing costs—net⁽¹⁾			21,529			14,910
Vendor deposits—non-current			10,593			756
Other deposits			7,143			6,877
Deferred financing fees			3,528			4,123
Other non-current assets			9,654			10,383
Total other non-current assets		$	149,207		$	298,149

(1)	Presented net of accumulated amortization of $11 million and $4.0 million as of January 28, 2023 and January 29, 2022.