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Segment Reporting | 12 Months Ended
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Jan. 30, 2021
Segment Reporting [Abstract] |
Segment Reporting | 15. Segment Reporting In accordance with ASC 280, Segment Reporting (“ASC 280”), the Company has identified two operating segments (American Eagle brand and Aerie brand) that also represent our reportable segments and reflect the Chief Operating Decision Maker’s (defined as our CEO) internal view of analyzing results and allocating resources. Historically, all of the operating segments were aggregated as permitted by ASC 280 as one reportable segment. Our CEO analyzes segment results and allocates resources based on adjusted operating income (loss). Adjusted operating income (loss) is defined as operating income excluding impairment, restructuring and COVID-19 related charges. Adjusted operating income (loss) may not be comparable to similarly titled measures of other companies. Adjusted operating income (loss) on a consolidated basis is presented in the following table to reconcile the segment operating performance measure to operating (loss) income as presented on the Consolidated Financial Statements. Reportable segment information is presented in the following table:
(in thousands) | American Eagle |  |  | Aerie |  |  | Corporate(1) |  |  | Total(2) |
For the year ended January 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total net revenue | $ | 2,733,849 |  |  | $ | 989,989 |  |  | $ | 35,275 |  |  | $ | 3,759,113 |
Operating income (Ioss) | $ | 93,029 |  |  | $ | 60,298 |  |  | $ | (409,772 | ) |  | $ | (271,345 | )
Impairment, restructuring and COVID-19 related charges | $ | 144,486 |  |  | $ | 52,849 |  |  | $ | 67,591 |  |  | $ | 279,826 |
Adjusted Operating income (loss) | $ | 237,515 |  |  | $ | 113,147 |  |  | $ | (342,181 | ) |  | $ | 8,481 |
Depreciation and amortization | $ | 63,019 |  |  | $ | 26,647 |  |  | $ | 72,736 |  |  | $ | 162,402 |
Capital Expenditures | $ | 36,606 |  |  | $ | 32,723 |  |  | $ | 58,646 |  |  | $ | 127,975 |
For the year ended February 1, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total net revenue | $ | 3,479,592 |  |  | $ | 801,035 |  |  | $ | 27,585 |  |  | $ | 4,308,212 |
Operating Income (loss) | $ | 484,078 |  |  | $ | 47,465 |  |  | $ | (298,198 | ) |  | $ | 233,345 |
Impairment and restructuring charges | $ | 41,657 |  |  | $ | 20,261 |  |  | $ | 18,576 |  |  | $ | 80,494 |
Adjusted Operating Income (loss) | $ | 525,735 |  |  | $ | 67,726 |  |  | $ | (279,622 | ) |  | $ | 313,839 |
Depreciation and amortization | $ | 75,889 |  |  | $ | 22,578 |  |  | $ | 80,583 |  |  | $ | 179,050 |
Capital Expenditures | $ | 98,699 |  |  | $ | 56,283 |  |  | $ | 55,378 |  |  | $ | 210,360 |
For the year ended February 2, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total net revenue | $ | 3,387,754 |  |  | $ | 627,846 |  |  | $ | 20,120 |  |  | $ | 4,035,720 |
Operating Income (loss) | $ | 583,977 |  |  | $ | 39,585 |  |  | $ | (286,433 | ) |  | $ | 337,129 |
Impairment and restructuring charges |  | - |  |  |  | - |  |  | $ | 1,568 |  |  | $ | 1,568 |
Adjusted Operating Income (loss) | $ | 583,977 |  |  | $ | 39,585 |  |  | $ | (284,865 | ) |  | $ | 338,697 |
Depreciation and amortization | $ | 76,084 |  |  | $ | 19,680 |  |  | $ | 72,567 |  |  | $ | 168,331 |
Capital Expenditures | $ | 96,696 |  |  | $ | 34,431 |  |  | $ | 57,894 |  |  | $ | 189,021 |
| (1) | Corporate includes revenue and operating results of the Todd Snyder brand, which is not material to disclose as a separate reportable segment. Corporate operating costs represents certain costs that are not directly attributable to another reportable segment
| (2) | The difference between Operating income (loss) and (Loss) income before taxes includes interest expense (income), net of $24.6 million in Fiscal 2020, ($6.2) million in Fiscal 2019 and ($3.5) million in Fiscal 2018 and other income, net of $3.7 million in Fiscal 2020, $5.7 million in Fiscal 2019 and $4.5 million in Fiscal 2018, which are not allocated to our reportable segments.
We do not allocate assets to the reportable segment level and therefore our CEO does not use segment asset information to make decisions. The following tables present summarized geographical information.
|  | For the Years Ended |
|  | January 30, |  |  | February 1, |  |  | February 2, |
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Total net revenue: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 3,295,028 |  |  | $ | 3,710,270 |  |  | $ | 3,511,265 |
Foreign (1) |  |  | 464,085 |  |  |  | 597,942 |  |  |  | 524,455 |
Total net revenue |  | $ | 3,759,113 |  |  | $ | 4,308,212 |  |  | $ | 4,035,720 |
| (1) | Amounts represent sales from American Eagle and Aerie international retail stores, and e-commerce sales that are billed to and/or shipped to foreign countries and international franchise royalty revenue.
|  | January 30, |  |  | February 1, |
(In thousands) |  | 2021 |  |  | 2020 |
Long-lived assets, net: |  |  |  |  |  |  |  |
United States |  | $ | 1,705,561 |  |  | $ | 2,032,280 |
Foreign |  |  | 144,544 |  |  |  | 174,760 |
Total long-lived assets, net |  | $ | 1,850,105 |  |  | $ | 2,207,040 |
As of January 30, 2021 and February 1, 2020, the United States and foreign balances contain $1.0 billion and $0.1 billion, and $1.3 billion and $0.1 billion of operating lease ROU assets, respectively, related to the adoption of ASC 842. Refer to Note 2 for further information about the Company’s adoption of ASC 842. Through its portfolio of brands, the Company offers on-trend clothing, accessories, and personal care products (collectively “merchandise”). The following table sets forth the approximate consolidated percentage of total net revenue from operations attributable to each merchandise category:
|  | For the Years Ended |
|  | January 30, |  |  | February 1, |  |  | February 2, |
Total Revenue (in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
American Eagle merchandise |  |  | 2,733,849 |  |  |  | 3,479,592 |  |  |  | 3,387,754 |
Aerie merchandise |  |  | 989,989 |  |  |  | 801,035 |  |  |  | 627,846 |
Total merchandise(1) |  | $ | 3,723,838 |  |  | $ | 4,280,627 |  |  | $ | 4,015,600 |
As a percentage of total revenue |  |  |  |  |  |  |  |  |  |  |  |
American Eagle merchandise |  |  | 73 | % |  |  | 81 | % |  |  | 84 | %
Aerie merchandise |  |  | 26 | % |  |  | 19 | % |  |  | 16 | %
Total merchandise(1) |  |  | 99 | % |  |  | 100 | % |  |  | 100 | %
(1) Total does not include Todd Snyder merchandise as it is not material

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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