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Impairment, Restructuring and Other Charges (Tables)

6 Months Ended

Aug. 03, 2024

Restructuring and Related Activities [Abstract]

Schedule of Impairment, Restructuring and Other Charges

The following table represents impairment, restructuring and other charges related to Quiet Platforms. All amounts were recorded within impairment, restructuring and other charges on the Consolidated Statements of Operations during the 26 weeks ended July 29, 2023. There were no impairment, restructuring and other charges recorded for the 13 and 26 weeks ended August 3, 2024 or the 13 weeks ended July 29, 2023.

		26 Weeks Ended
		July 29,
(In thousands)		2023
Long-lived asset impairment charges		$	10,759
Employee related costs			5,592
Other commercial related charges			4,924
Total impairment, restructuring and other charges		$	21,275

The following footnote relates to impairment, restructuring, and other charges recorded during the 26 weeks ended July 29, 2023:

(1)$21.3 million of charges related to the Quiet Platforms restructuring. Of this amount, we recorded $10.8 million of long-term asset impairment primarily related to technology that is no longer a part of our long-term strategy. All impairments were recorded due to insufficient prospective cash flows to support the asset value, resulting from the restructuring of Quiet Platforms. We recorded $5.6 million of severance based on our revised long-term strategy. We also recorded $4.9 million of contract-related charges.

Roll-forward of Restructuring Liabilities Recognized in Consolidated Balance Sheet

A roll-forward of the restructuring liabilities recognized in the Consolidated Balance Sheet is as follows:

		26 Weeks Ended
		August 3,
(In thousands)		2024
Accrued liability as of February 3, 2024		$	11,414
Less: Cash payments and adjustments			(9,840	)
Accrued liability as of August 3, 2024		$	1,574

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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