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Segment Reporting | 6 Months Ended
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Jul. 31, 2021
Segment Reporting [Abstract] |
Segment Reporting | 12. Segment Reporting In accordance with ASC 280, Segment Reporting (“ASC 280”), the Company has identified two operating segments (American Eagle and Aerie) 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 operating segments were aggregated as permitted by ASC 280 as one reportable segment. In the fourth quarter of Fiscal 2020, we revised our reportable segment structure and have two reportable segments, American Eagle and Aerie. Our CEO analyzes segment results and allocates resources based on adjusted operating income (loss). Adjusted operating income (loss) is defined as operating income (loss) 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 income (loss) as presented on the Consolidated Financial Statements.
(in thousands) | American Eagle |  |  | Aerie |  |  | Corporate(1) |  |  | Total(2) |
13 weeks ended July 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total net revenue | $ | 845,882 |  |  | $ | 335,795 |  |  | $ | 12,479 |  |  | $ | 1,194,156 |
Operating income (loss) | $ | 198,896 |  |  | $ | 70,646 |  |  | $ | (101,546 | ) |  | $ | 167,996 |
Capital Expenditures | $ | 17,189 |  |  | $ | 16,641 |  |  | $ | 15,569 |  |  | $ | 49,399 |
13 weeks ended August 1, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total net revenue | $ | 624,831 |  |  | $ | 251,511 |  |  | $ | 7,168 |  |  | $ | 883,510 |
Operating income (loss) | $ | 59,603 |  |  | $ | 30,404 |  |  | $ | (102,244 | ) |  | $ | (12,237 | )
Impairment, restructuring, and COVID-19 related charges |  | - |  |  |  | - |  |  |  | 14,611 |  |  |  | 14,611 |
Adjusted operating income (loss) | $ | 59,603 |  |  | $ | 30,404 |  |  | $ | (87,633 | ) |  | $ | 2,374 |
Capital Expenditures | $ | 6,774 |  |  | $ | 8,620 |  |  | $ | 12,098 |  |  | $ | 27,492 |
26 weeks ended July 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total net revenue | $ | 1,573,584 |  |  | $ | 633,282 |  |  | $ | 21,903 |  |  | $ | 2,228,769 |
Operating income (loss) | $ | 350,128 |  |  | $ | 140,624 |  |  | $ | (189,328 | ) |  | $ | 301,424 |
Capital Expenditures | $ | 30,628 |  |  | $ | 27,460 |  |  | $ | 28,117 |  |  | $ | 86,205 |
26 weeks ended August 1, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total net revenue | $ | 1,015,081 |  |  | $ | 406,492 |  |  | $ | 13,629 |  |  | $ | 1,435,202 |
Operating income (loss) | $ | (154,146 | ) |  | $ | 11,275 |  |  | $ | (227,607 | ) |  | $ | (370,478 | )
Impairment, restructuring, and COVID-19 related charges |  | 90,926 |  |  |  | 18,215 |  |  |  | 61,090 |  |  |  | 170,231 |
Adjusted operating income (loss) | $ | (63,220 | ) |  | $ | 29,490 |  |  | $ | (166,517 | ) |  | $ | (200,247 | )
Capital Expenditures | $ | 14,873 |  |  | $ | 17,408 |  |  | $ | 29,121 |  |  | $ | 61,402 |
| (1) | Corporate includes revenue and operating results of the Todd Snyder and Unsubscribed brands, which are not material to disclose as separate reportable segments. Corporate operating costs represents certain costs that are not directly attributable to another reportable segment.
| (2) | The difference between Operating income (loss) and Income (loss) before income taxes includes the following items, which are not allocated to our reportable segments: - For the 13 weeks ended July 31, 2021, interest expense, net of $8.9 million and other (income) expense, net of ($1.4) million. For the 26 weeks ended July 31, 2021, interest expense, net of $17.4 million and other (income) expense, net of ($3.2) million. - For the 13 weeks ended August 1, 2020, interest expense, net of $8.5 million and other (income) expense, net of ($1.6) million. For the 26 weeks ended August 1, 2020, interest expense, net of $8.7 million and other (income) expense, net of $1.4 million.
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 table present summarized geographical information:
|  | 13 Weeks Ended |  |  | 26 Weeks Ended |
(In thousands) |  | July 31, 2021 |  |  | August 1, 2020 |  |  | July 31, 2021 |  |  | August 1, 2020 |
Total net revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,030,308 |  |  | $ | 780,028 |  |  | $ | 1,939,966 |  |  | $ | 1,268,904 |
Foreign (1) |  |  | 163,848 |  |  |  | 103,482 |  |  |  | 288,803 |  |  |  | 166,298 |
Total net revenue |  | $ | 1,194,156 |  |  | $ | 883,510 |  |  | $ | 2,228,769 |  |  | $ | 1,435,202 |
| (1) | Amounts represent sales from American Eagle and Aerie international retail stores, e-commerce sales that are billed and/or shipped to foreign countries and international license royalty revenue.

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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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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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