XML 55 R41.htm IDEA: XBRL DOCUMENT
v3.21.1

Lease Accounting (Tables) | 12 Months Ended
--- | ---
Jan. 30, 2021
Leases [Abstract] |
Assets and liabilities, lessee | As of January 30, 2021 and February 1, 2020, the components of leases and lease costs are as follows (in thousands):
| Jan 30, 2021 |  | Feb 1, 2020 |  |  |
Assets |  |  |  |  | Balance Sheet Location |  |
Operating |  | $ | 764,804 |  |  | $ | 851,990 |  | Operating right-of-use assets |  |
Finance |  | 20,595 |  |  | 15,972 |  | Property and equipment, net |  |
Total lease assets | $ | 785,399 |  |  | $ | 867,962 |  |  |  |
Liabilities |  |  |  |  | Balance Sheet Location |  |
Current: |  |  |  |  |  |  |
Operating |  | $ | 222,800 |  |  | $ | 192,066 |  | Current portion of operating lease liabilities |  |
Finance |  | 4,698 |  |  | 2,273 |  | Current portion of borrowings and finance lease obligations |  |
Noncurrent: |  |  |  |  |  |  |
Operating |  | 662,657 |  |  | 714,079 |  | Long-term operating lease liabilities |  |
Finance |  | 17,365 |  |  | 14,262 |  | Long-term debt and finance lease obligations |  |
Total lease liabilities | $ | 907,520 |  |  | $ | 922,680 |  |  |  |
Lease cost |
|  | Year Ended Jan 30, 2021 |  | Year Ended Feb 1, 2020 |
|  |  |  |  | Income Statement Location
Operating lease costs 1 |  | $ | 205,065 |  |  | $ | 244,222 |  | Cost of product sales
Operating lease costs 1 |  | 21,726 |  |  | 24,565 |  | Selling, general and administrative expenses
Operating lease costs 1, 2 |  | (2,801) |  |  | — |  | Net gains on lease modifications
Finance lease costs |  |  |  |  |
Amortization of leased assets 3 |  | 49 |  |  | 289 |  | Cost of product sales
Amortization of leased assets 3 |  | 3,834 |  |  | 2,234 |  | Selling, general and administrative expenses
Interest on lease liabilities |  | 1,237 |  |  | 1,035 |  | Interest expense
Variable lease costs 1, 4 |  | 52,304 |  |  | 93,534 |  | Cost of product sales
Variable lease costs 1, 4 |  | 1,795 |  |  | 2,227 |  | Selling, general and administrative expenses
Short-term lease costs 1 |  | 694 |  |  | 344 |  | Cost of product sales
Short-term lease costs 1 |  | 5,023 |  |  | 3,543 |  | Selling, general and administrative expenses
Total lease costs 1 | $ | 288,926 |  |  | $ | 371,993 |  |
______________________________________________________________________ 1 Rental expense for all property and equipment operating leases during fiscal 2019 aggregated to $292.1 million, including percentage rent of $67.2 million. During fiscal 2019, the Company also recognized insurance, taxes, sales promotion, common area maintenance and certain utility charges that were paid to the landlord totaling $72.3 million related to its operating leases. 2 During the year ended January 30, 2021, net gains on lease modifications related primarily to the early termination of lease agreements for certain of the Company’s retail locations. During fiscal 2019, the Company recognized net gains on lease modifications of $0.5 million related primarily to the early termination of lease agreements related to certain of the Company’s retail locations. Operating lease costs for these retail locations prior to the early termination were included in cost of product sales. 3 Amortization of leased assets related to finance leases are included in depreciation expense within cost of product sales or selling, general and administrative expenses depending on the nature of the asset in the Company’s consolidated statements of income (loss). 4 During the year ended January 30, 2021, variable lease costs included certain rent concessions received by the Company, primarily in Europe, related to the COVID-19 pandemic of approximately $33.1 million. Refer to Note 1 for further information.
Operating lease liabilities maturity schedule | Maturities of the Company’s operating and finance lease liabilities as of January 30, 2021 are as follows (in thousands):
| Operating Leases |  |  |  |  |  |
| Non-Related Parties |  | Related Parties |  | Finance Leases |  | Total |  |
Maturity of Lease Liabilities: |  |  |  |  |  |  |  |  |
2022 | $ | 240,843 |  |  | $ | 8,182 |  |  | $ | 6,068 |  |  | $ | 255,093 |  |  |
2023 | 185,107 |  |  | 6,310 |  |  | 5,579 |  |  | 196,996 |  |  |
2024 | 150,223 |  |  | 6,727 |  |  | 5,388 |  |  | 162,338 |  |  |
2025 | 106,810 |  |  | 6,370 |  |  | 3,433 |  |  | 116,613 |  |  |
2026 | 76,403 |  |  | 5,977 |  |  | 2,460 |  |  | 84,840 |  |  |
After 2026 | 150,859 |  |  | 32,610 |  |  | 3,197 |  |  | 186,666 |  |  |
Total lease payments | 910,245 |  |  | 66,176 |  |  | 26,125 |  |  | 1,002,546 |  |  |
Less: Interest | 79,219 |  |  | 11,745 |  |  | 4,062 |  |  | 95,026 |  |  |
Present value of lease liabilities | $ | 831,026 |  |  | $ | 54,431 |  |  | $ | 22,063 |  |  | $ | 907,520 |  |  |
Finance lease liabilities maturity schedule | Maturities of the Company’s operating and finance lease liabilities as of January 30, 2021 are as follows (in thousands):
| Operating Leases |  |  |  |  |  |
| Non-Related Parties |  | Related Parties |  | Finance Leases |  | Total |  |
Maturity of Lease Liabilities: |  |  |  |  |  |  |  |  |
2022 | $ | 240,843 |  |  | $ | 8,182 |  |  | $ | 6,068 |  |  | $ | 255,093 |  |  |
2023 | 185,107 |  |  | 6,310 |  |  | 5,579 |  |  | 196,996 |  |  |
2024 | 150,223 |  |  | 6,727 |  |  | 5,388 |  |  | 162,338 |  |  |
2025 | 106,810 |  |  | 6,370 |  |  | 3,433 |  |  | 116,613 |  |  |
2026 | 76,403 |  |  | 5,977 |  |  | 2,460 |  |  | 84,840 |  |  |
After 2026 | 150,859 |  |  | 32,610 |  |  | 3,197 |  |  | 186,666 |  |  |
Total lease payments | 910,245 |  |  | 66,176 |  |  | 26,125 |  |  | 1,002,546 |  |  |
Less: Interest | 79,219 |  |  | 11,745 |  |  | 4,062 |  |  | 95,026 |  |  |
Present value of lease liabilities | $ | 831,026 |  |  | $ | 54,431 |  |  | $ | 22,063 |  |  | $ | 907,520 |  |  |
Other supplemental information | Other supplemental information is as follows (dollars in thousands):
| Jan 30, 2021 |  |  |  |  |  |
Lease Term and Discount Rate: |  |  |  |  |  |  |
Weighted-average remaining lease term (years) |  |  |  |  |  |  |
Operating leases | 5.9 years |  |  |  |  |  |
Finance leases | 5.0 years |  |  |  |  |  |
Weighted-average discount rate |  |  |  |  |  |  |
Operating leases | 3.6% |  |  |  |  |  |
Finance leases | 7.1% |  |  |  |  |  |
| Year Ended Jan 30, 2021 | Year Ended Feb 1, 2020 |  |  |  |  |  |
Supplemental Cash Flow Information: |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 193,776 |  | $ | 250,972 |  |  |  |  |  |  |
New operating ROU assets obtained in exchange for lease liabilities | $ | 189,412 |  | $ | 127,232 |  |  |  |  |  |  |

X
- Definition Assets And Liabilities, Lessee [Table Text Block] + References No definition available. + Details
Name: | ges_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix: | ges_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents other supplemental lease information for lessees. + References No definition available. + Details
Name: | ges_LesseeOtherSupplementalInformationTableTextBlock
Namespace Prefix: | ges_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration