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Stockholders' Equity and Redeemable Noncontrolling Interests | 6 Months Ended
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Aug. 04, 2018
Stockholders' Equity and Redeemable Noncontrolling Interests [Abstract] |
Stockholders' Equity and Redeemable Noncontrolling Interests | Stockholders’ Equity and Redeemable Noncontrolling Interests A reconciliation of common stock outstanding, treasury stock and the total carrying amount of total stockholders’ equity, Guess?, Inc. stockholders’ equity and stockholders’ equity attributable to nonredeemable and redeemable noncontrolling interests for the fiscal year ended February 3, 2018 and six months ended August 4, 2018 is as follows (in thousands, except share data):
| Shares |  | Stockholders’ Equity |  |
| Common Stock |  | Treasury Stock |  | Guess?, Inc. Stockholders’ Equity |  | Nonredeemable Noncontrolling Interests |  | Total |  | Redeemable Noncontrolling Interests
Balance at January 28, 2017 | 84,069,492 |  |  | 56,440,482 |  |  | $ | 969,222 |  |  | $ | 11,772 |  |  | $ | 980,994 |  |  | $ | 4,452 |
Net earnings (loss) | — |  |  | — |  |  | (7,894 | ) |  | 3,993 |  |  | (3,901 | ) |  | — |
Foreign currency translation adjustment | — |  |  | — |  |  | 91,178 |  |  | 2,238 |  |  | 93,416 |  |  | 187 |
Loss on derivative financial instruments designated as cash flow hedges, net of income tax of $2,738 | — |  |  | — |  |  | (19,994 | ) |  | — |  |  | (19,994 | ) |  | — |
Actuarial valuation loss and related amortization, prior service credit amortization and foreign currency and other adjustments on defined benefit plans, net of income tax of $435 | — |  |  | — |  |  | (1,647 | ) |  | — |  |  | (1,647 | ) |  | — |
Issuance of common stock under stock compensation plans, net of tax effect | 1,113,713 |  |  | — |  |  | (1,257 | ) |  | — |  |  | (1,257 | ) |  | — |
Issuance of stock under Employee Stock Purchase Plan | 54,300 |  |  | (54,300 | ) |  | 566 |  |  | — |  |  | 566 |  |  | — |
Share-based compensation | — |  |  | — |  |  | 18,852 |  |  | — |  |  | 18,852 |  |  | — |
Dividends | — |  |  | — |  |  | (76,048 | ) |  | — |  |  | (76,048 | ) |  | — |
Share repurchases | (3,866,387 | ) |  | 3,866,387 |  |  | (56,159 | ) |  | — |  |  | (56,159 | ) |  | — |
Noncontrolling interest capital contribution | — |  |  | — |  |  | — |  |  | 11 |  |  | 11 |  |  | 951 |
Noncontrolling interest capital distribution | — |  |  | — |  |  | — |  |  | (1,358 | ) |  | (1,358 | ) |  | — |
Balance at February 3, 2018 | 81,371,118 |  |  | 60,252,569 |  |  | $ | 916,819 |  |  | $ | 16,656 |  |  | $ | 933,475 |  |  | $ | 5,590 |
Cumulative adjustment from adoption of new accounting guidance | — |  |  | — |  |  | 5,829 |  |  | — |  |  | 5,829 |  |  | — |
Net earnings | — |  |  | — |  |  | 4,309 |  |  | 438 |  |  | 4,747 |  |  | — |
Foreign currency translation adjustment | — |  |  | — |  |  | (47,712 | ) |  | 187 |  |  | (47,525 | ) |  | (639 | )
Gain on derivative financial instruments designated as cash flow hedges, net of income tax of ($2,130) | — |  |  | — |  |  | 14,227 |  |  | — |  |  | 14,227 |  |  | — |
Actuarial valuation and prior service credit amortization and foreign currency and other adjustments on defined benefit plans, net of income tax of ($65) | — |  |  | — |  |  | 527 |  |  | — |  |  | 527 |  |  | — |
Issuance of common stock under stock compensation plans, net of tax effect | 749,349 |  |  | — |  |  | 4,169 |  |  | — |  |  | 4,169 |  |  | — |
Issuance of stock under Employee Stock Purchase Plan | 28,543 |  |  | (28,543 | ) |  | 465 |  |  | — |  |  | 465 |  |  | — |
Share-based compensation | — |  |  | — |  |  | 7,989 |  |  | — |  |  | 7,989 |  |  | — |
Dividends | — |  |  | — |  |  | (37,166 | ) |  | — |  |  | (37,166 | ) |  | — |
Share repurchases | (1,118,808 | ) |  | 1,118,808 |  |  | (17,587 | ) |  | — |  |  | (17,587 | ) |  | — |
Noncontrolling interest capital distribution | — |  |  | — |  |  | — |  |  | (3,069 | ) |  | (3,069 | ) |  | — |
Balance at August 4, 2018 | 81,030,202 |  |  | 61,342,834 |  |  | $ | 851,869 |  |  | $ | 14,212 |  |  | $ | 866,081 |  |  | $ | 4,951 |
Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss), net of related income taxes, for the three and six months ended August 4, 2018 and July 29, 2017 are as follows (in thousands):
| Three Months Ended Aug 4, 2018
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at May 5, 2018 | $ | (91,297 | ) |  | $ | (6,285 | ) |  | $ | (11,208 | ) |  | $ | (108,790 | )
Gains (losses) arising during the period | (23,464 | ) |  | 4,111 |  |  | (34 | ) |  | (19,387 | )
Reclassification to net earnings for losses realized | — |  |  | 2,032 |  |  | 125 |  |  | 2,157 |
Net other comprehensive income (loss) | (23,464 | ) |  | 6,143 |  |  | 91 |  |  | (17,230 | )
Balance at August 4, 2018 | $ | (114,761 | ) |  | $ | (142 | ) |  | $ | (11,117 | ) |  | $ | (126,020 | )
| Six Months Ended Aug 4, 2018
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at February 3, 2018 | $ | (67,049 | ) |  | $ | (14,369 | ) |  | $ | (11,644 | ) |  | $ | (93,062 | )
Gains (losses) arising during the period | (47,712 | ) |  | 10,579 |  |  | 277 |  |  | (36,856 | )
Reclassification to net earnings for losses realized | — |  |  | 3,648 |  |  | 250 |  |  | 3,898 |
Net other comprehensive income (loss) | (47,712 | ) |  | 14,227 |  |  | 527 |  |  | (32,958 | )
Balance at August 4, 2018 | $ | (114,761 | ) |  | $ | (142 | ) |  | $ | (11,117 | ) |  | $ | (126,020 | )
| Three Months Ended Jul 29, 2017
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at April 29, 2017 | $ | (146,754 | ) |  | $ | 4,948 |  |  | $ | (8,486 | ) |  | $ | (150,292 | )
Gains (losses) arising during the period | 43,079 |  |  | (13,093 | ) |  | (82 | ) |  | 29,904 |
Reclassification to net loss for (gains) losses realized | — |  |  | (606 | ) |  | 85 |  |  | (521 | )
Net other comprehensive income (loss) | 43,079 |  |  | (13,699 | ) |  | 3 |  |  | 29,383 |
Balance at July 29, 2017 | $ | (103,675 | ) |  | $ | (8,751 | ) |  | $ | (8,483 | ) |  | $ | (120,909 | )
| Six Months Ended Jul 29, 2017
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at January 28, 2017 | $ | (158,227 | ) |  | $ | 5,400 |  |  | $ | (8,562 | ) |  | $ | (161,389 | )
Gains (losses) arising during the period | 54,552 |  |  | (12,969 | ) |  | (95 | ) |  | 41,488 |
Reclassification to net loss for (gains) losses realized | — |  |  | (1,182 | ) |  | 174 |  |  | (1,008 | )
Net other comprehensive income (loss) | 54,552 |  |  | (14,151 | ) |  | 79 |  |  | 40,480 |
Balance at July 29, 2017 | $ | (103,675 | ) |  | $ | (8,751 | ) |  | $ | (8,483 | ) |  | $ | (120,909 | )
Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss) during the three and six months ended August 4, 2018 and July 29, 2017 are as follows (in thousands):
| Three Months Ended |  | Six Months Ended |  | Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings (Loss)
| Aug 4, 2018 |  | Jul 29, 2017 |  | Aug 4, 2018 |  | Jul 29, 2017 |
Derivative financial instruments designated as cash flow hedges: |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 2,342 |  |  | $ | (661 | ) |  | $ | 4,028 |  |  | $ | (1,279 | ) |  | Cost of product sales
Foreign exchange currency contracts | — |  |  | (14 | ) |  | 201 |  |  | (93 | ) |  | Other income (expense)
Interest rate swap | (31 | ) |  | 26 |  |  | (39 | ) |  | 62 |  |  | Interest expense
Less income tax effect | (279 | ) |  | 43 |  |  | (542 | ) |  | 128 |  |  | Income tax expense
| 2,032 |  |  | (606 | ) |  | 3,648 |  |  | (1,182 | ) |  |
Defined benefit plans: |  |  |  |  |  |  |  |  |
Net actuarial loss amortization (1) | 151 |  |  | 111 |  |  | 303 |  |  | 228 |  |  | Other income (expense)
Prior service credit amortization (1) | (7 | ) |  | (6 | ) |  | (14 | ) |  | (13 | ) |  | Other income (expense)
Less income tax effect | (19 | ) |  | (20 | ) |  | (39 | ) |  | (41 | ) |  | Income tax expense
| 125 |  |  | 85 |  |  | 250 |  |  | 174 |  |  |
Total reclassifications during the period | $ | 2,157 |  |  | $ | (521 | ) |  | $ | 3,898 |  |  | $ | (1,008 | ) |  |
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(1) | These accumulated other comprehensive income (loss) components are included in the computation of net periodic defined benefit pension cost. During the first quarter of fiscal 2019, the Company adopted new authoritative guidance which requires that the non-service components of net periodic defined benefit pension cost be presented outside of earnings (loss) from operations. The Company adopted this guidance on a retrospective basis and, as a result, reclassified these components from SG&A expenses to other income (expense) for the three and six months ended July 29, 2017. Refer to Note 13 for further information.
Redeemable Noncontrolling Interests The Company is party to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest for its majority-owned subsidiary, Guess Brasil Comércio e Distribuição S.A. (“Guess Brazil”), which was established through a majority-owned joint venture during fiscal 2014. The put arrangement for Guess Brazil, representing 40% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the noncontrolling interest holder by providing written notice to the Company beginning in the sixth year of the agreement, or sooner in certain limited circumstances, and every third anniversary from the end of the sixth year thereafter subject to certain time restrictions. The redemption value of the Guess Brazil put arrangement is based on a multiple of Guess Brazil’s earnings before interest, taxes, depreciation and amortization subject to certain adjustments and is classified as a redeemable noncontrolling interest outside of permanent equity in the Company’s condensed consolidated balance sheet. The carrying value of the redeemable noncontrolling interest related to Guess Brazil was $1.4 million and $1.6 million as of August 4, 2018 and February 3, 2018, respectively. The Company is also party to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest for its majority-owned subsidiary, Guess? CIS, LLC (“Guess CIS”), which was established through a majority-owned joint venture during fiscal 2016. The put arrangement for Guess CIS, representing 30% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the noncontrolling interest holder by providing written notice to the Company during the period beginning after the fifth anniversary of the agreement through December 31, 2025, or sooner in certain limited circumstances. The redemption value of the Guess CIS put arrangement is based on a multiple of Guess CIS’s earnings before interest, taxes, depreciation and amortization subject to certain adjustments and is classified as a redeemable noncontrolling interest outside of permanent equity in the Company’s condensed consolidated balance sheet. During fiscal 2018, the Company and the noncontrolling interest holder made additional capital contribution totaling $3.2 million, of which $2.2 million was paid by the Company and the remaining amount was paid by the noncontrolling interest holder to retain the same pro-rata interest in Guess CIS. The carrying value of the redeemable noncontrolling interest related to Guess CIS was $3.6 million and $4.0 million as of August 4, 2018 and February 3, 2018, respectively.

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- Definition Stockholders' Equity and Redeemable Noncontrolling Interests [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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