XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.23.2

Segment Reporting | 6 Months Ended
--- | ---
Jul. 29, 2023
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 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 Quiet Platforms have been identified as separate operating segments; however, as they do not meet the quantitative thresholds for separate disclosure, they are presented under the Other caption, as permitted by ASC 280. General corporate expenses are comprised of general and administrative costs that management does not attribute to any of our operating segments. These costs primarily relate to corporate administration, information and technology resources, finance and human resources functional and organizational costs, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects. Our CEO analyzes segment results and allocates resources between segments based on the adjusted operating income , or the operating income in periods where there are no adjustments, of each segment. Adjusted operating income is a non-GAAP financial measure ("non-GAAP" or "adjusted") that is defined by the Company as operating income excluding impairment, restructuring and other charges. Adjusted operating income 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 on a consolidated basis is presented in the following table to reconcile the segment operating performance measure to operating income as presented on the Consolidated Financial Statements. Reportable segment information is presented in the following table:
| For the 13 weeks ended |  |  | For the 26 weeks ended |
| July 29, 2023 |  |  | July 30, 2022 |  |  | July 29, 2023 |  |  | July 30, 2022 |
Net Revenue: |  |  |  |  |  |  |  |  |  |  |
American Eagle | $ | 767,018 |  |  | $ | 777,828 |  |  | $ | 1,438,110 |  |  | $ | 1,463,407 |
Aerie | $ | 380,413 |  |  | $ | 371,683 |  |  | $ | 739,495 |  |  | $ | 693,395 |
Total Segment Net Revenue | $ | 1,147,431 |  |  | $ | 1,149,511 |  |  | $ | 2,177,605 |  |  | $ | 2,156,802 |
Other | $ | 108,318 |  |  | $ | 110,393 |  |  | $ | 217,675 |  |  | $ | 200,077 |
Intersegment Elimination | $ | (54,870 | ) |  | $ | (61,780 | ) |  | $ | (113,475 | ) |  | $ | (103,718 | )
Total Net Revenue | $ | 1,200,879 |  |  | $ | 1,198,124 |  |  | $ | 2,281,805 |  |  | $ | 2,253,161 |
Adjusted Operating Income: |  |  |  |  |  |  |  |  |  |  |
American Eagle | $ | 128,664 |  |  | $ | 109,110 |  |  | $ | 234,203 |  |  | $ | 213,015 |
Aerie | $ | 57,253 |  |  | $ | 11,830 |  |  | $ | 112,922 |  |  | $ | 54,903 |
Total Segment Adjusted Operating Income | $ | 185,917 |  |  | $ | 120,940 |  |  | $ | 347,125 |  |  | $ | 267,918 |
Other | $ | (10,341 | ) |  | $ | (11,507 | ) |  | $ | (26,648 | ) |  | $ | (27,732 | )
Intersegment Elimination | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
General corporate expenses | $ | (110,286 | ) |  | $ | (95,419 | ) |  | $ | (211,081 | ) |  | $ | (184,270 | )
Total Adjusted Operating Income | $ | 65,290 |  |  | $ | 14,014 |  |  | $ | 109,396 |  |  | $ | 55,916 |
Less: Impairment, restructuring and other charges | $ | - |  |  | $ | - |  |  | $ | (21,275 | ) |  | $ | - |
Total Operating Income | $ | 65,290 |  |  | $ | 14,014 |  |  | $ | 88,121 |  |  | $ | 55,916 |
Debt related charges | $ | - |  |  | $ | 60,066 |  |  | $ | - |  |  | $ | 60,066 |
Interest expense, net | $ | 951 |  |  | $ | 3,421 |  |  | $ | 1,642 |  |  | $ | 8,009 |
Other income, net | $ | (2,150 | ) |  | $ | (1,839 | ) |  | $ | (5,461 | ) |  | $ | (6,283 | )
Income before income taxes | $ | 66,489 |  |  | $ | (47,634 | ) |  | $ | 91,940 |  |  | $ | (5,876 | )
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |
American Eagle | $ | 16,249 |  |  | $ | 18,754 |  |  | $ | 31,192 |  |  | $ | 34,524 |
Aerie | $ | 10,889 |  |  | $ | 30,244 |  |  | $ | 22,077 |  |  | $ | 61,259 |
Other | $ | 6,154 |  |  | $ | 4,107 |  |  | $ | 11,730 |  |  | $ | 5,132 |
General corporate expenditures | $ | 12,810 |  |  | $ | 16,359 |  |  | $ | 26,960 |  |  | $ | 26,943 |
Total Capital Expenditures | $ | 46,102 |  |  | $ | 69,464 |  |  | $ | 91,959 |  |  | $ | 127,858 |
The following table presents summarized geographical information:
|  | 13 Weeks Ended |  |  | 26 Weeks Ended |
(In thousands) |  | July 29, 2023 |  |  | July 30, 2022 |  |  | July 29, 2023 |  |  | July 30, 2022 |
Total net revenue: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,005,197 |  |  | $ | 1,027,158 |  |  | $ | 1,919,588 |  |  | $ | 1,935,323 |
Foreign (1) |  |  | 195,682 |  |  |  | 170,966 |  |  |  | 362,217 |  |  |  | 317,838 |
Total net revenue |  | $ | 1,200,879 |  |  | $ | 1,198,124 |  |  | $ | 2,281,805 |  |  | $ | 2,253,161 |
(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.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration