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Segment Reporting | 12 Months Ended
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Jan. 29, 2022
Segment Reporting [Abstract] |
Segment Reporting | 16. 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. Additionally, our Todd Snyder brand, Unsubscribed brand, and Supply Chain Platform have been identified as separate operating segments; however, as they do not meet the quantitative thresholds for separate disclosure, they have been included in the Corporate and Other category, as permitted by ASC 280. Our CEO analyzes segment results and allocates resources between segments based on the adjusted operating income (loss) of each segment. Adjusted operating income (loss) is a non-GAAP financial measure ("non-GAAP" or "adjusted") that is defined by the Company as operating income excluding impairment, restructuring and COVID-19 related charges. Adjusted operating income (loss) is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similar measures presented by other companies. Non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. We believe that this non-GAAP information is useful as an additional means for investors to evaluate our operating performance, when reviewed in conjunction with our GAAP consolidated financial statements and provides a higher degree of transparency. These amounts are not determined in accordance with GAAP and, therefore, should not be used exclusively in evaluating our business and operations. 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. Reportable segment information is presented in the following table:
(in thousands) | American Eagle |  |  | Aerie |  |  | Corporate and Other(1) |  |  | Total(2) |
For the year ended January 29, 2022 |  |  |  |  |  |  |  |  |  |  |
Total net revenue | $ | 3,555,706 |  |  | $ | 1,376,269 |  |  | $ | 78,810 |  |  | $ | 5,010,785 |
Operating income (Ioss) | $ | 785,729 |  |  | $ | 212,287 |  |  | $ | (406,951 | ) |  | $ | 591,065 |
Asset Impairment | $ | 10,231 |  |  | $ | 1,713 |  |  | $ | - |  |  | $ | 11,944 |
Adjusted operating income (loss) | $ | 795,960 |  |  | $ | 214,000 |  |  | $ | (406,951 | ) |  | $ | 603,009 |
Depreciation and Amortization | $ | 59,641 |  |  | $ | 33,834 |  |  | $ | 73,306 |  |  | $ | 166,781 |
Capital expenditures | $ | 47,106 |  |  | $ | 80,062 |  |  | $ | 106,679 |  |  | $ | 233,847 |
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 |  |  | $ | (424,672 | ) |  | $ | (271,345 | )
Impairment, restructuring and COVID-19 related charges | $ | 144,486 |  |  | $ | 52,849 |  |  | $ | 82,491 |  |  | $ | 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 |
(1) Corporate and Other includes revenue and operating results of the Todd Snyder brand, Unsubscribed brand, and Supply Chain Platform, which have been identified as separate operating segments, but 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, which are not allocated to our reportable segments: - For Fiscal 2021: interest expense (income), net of $34.6 million and other income, net of $2.5 million - For Fiscal 2020: interest expense (income), net of $24.6 million and other income, net of $3.7 million - For Fiscal 2019: interest expense (income), net of ($6.2) million and other income, net of $5.7 million We do not allocate assets to the reportable segment level and therefore our CEO does not use segment asset information to make decisions. Total net revenue for the American Eagle and Aerie reportable segments in the table above represents revenue attributable to each brands merchandise which comprises approximately 98% of total net revenue. The following tables present summarized geographical information.
|  | For the Years Ended |
|  | January 29, |  |  | January 30, |  |  | February 1, |
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Total net revenue: |  |  |  |  |  |  |  |  |
United States |  | $ | 4,336,806 |  |  | $ | 3,295,028 |  |  | $ | 3,710,270 |
Foreign (1) |  |  | 673,979 |  |  |  | 464,085 |  |  |  | 597,942 |
Total net revenue |  | $ | 5,010,785 |  |  | $ | 3,759,113 |  |  | $ | 4,308,212 |
(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 29, |  |  | January 30, |
(In thousands) |  | 2022 |  |  | 2021 |
Long-lived assets, net: |  |  |  |  |  |
United States |  | $ | 2,137,835 |  |  | $ | 1,705,561 |
Foreign |  |  | 157,575 |  |  |  | 144,544 |
Total long-lived assets, net |  | $ | 2,295,410 |  |  | $ | 1,850,105 |

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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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