XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Lease Accounting (Tables) | 9 Months Ended
--- | ---
Oct. 29, 2022
Leases [Abstract] |
Assets and liabilities, lessee | The components of leases are (in thousands):
|  | Oct 29, 2022 |  | Jan 29, 2022 |  |
Assets | Balance Sheet Location |  |  |  |  |
Operating | Operating lease right-of-use assets | $ | 614,705 |  |  | $ | 685,799 |  |  |
Finance | Property and equipment, net | 19,264 |  |  | 21,898 |  |  |
Total lease assets | $ | 633,969 |  |  | $ | 707,697 |  |  |
Liabilities | Balance Sheet Location |  |  |  |  |
Current: |  |  |  |  |  |
Operating | Current portion of operating lease liabilities | $ | 159,152 |  |  | $ | 195,516 |  |  |
Finance | Current portion of borrowings and finance lease obligations | 5,888 |  |  | 5,806 |  |  |
Noncurrent: |  |  |  |  |  |
Operating | Long-term operating lease liabilities | 519,594 |  |  | 582,757 |  |  |
Finance | Long-term debt and finance lease obligations | 14,559 |  |  | 17,137 |  |  |
Total lease liabilities | $ | 699,193 |  |  | $ | 801,216 |  |  |
Lease cost | The components of lease costs are (in thousands):
|  | Three Months Ended |  | Nine Months Ended
| Income Statement Location | Oct 29, 2022 |  | Oct 30, 2021 |  | Oct 29, 2022 |  | Oct 30, 2021
Operating lease costs | Cost of product sales | $ | 43,361 |  |  | $ | 44,729 |  |  | $ | 131,450 |  |  | $ | 137,189 |
Operating lease costs | Selling, general and administrative expenses | 6,000 |  |  | 6,300 |  |  | 18,582 |  |  | 18,846 |
Operating lease costs 1 | Net (gains) losses on lease modifications | (146) |  |  | 3,006 |  |  | (1,654) |  |  | 441 |
Finance lease costs |  |  |  |  |  |  |  |
Amortization of leased assets | Cost of product sales | 21 |  |  | 5 |  |  | 60 |  |  | 33 |
Amortization of leased assets | Selling, general and administrative expenses | 1,510 |  |  | 1,233 |  |  | 4,585 |  |  | 4,000 |
Interest on lease liabilities | Interest expense | 209 |  |  | 474 |  |  | 747 |  |  | 1,103 |
Variable lease costs 2 | Cost of product sales | 21,682 |  |  | 19,321 |  |  | 64,462 |  |  | 51,700 |
Variable lease costs 2 | Selling, general and administrative expenses | 669 |  |  | 552 |  |  | 2,438 |  |  | 1,571 |
Short-term lease costs | Cost of product sales | 87 |  |  | 99 |  |  | 273 |  |  | 330 |
Short-term lease costs | Selling, general and administrative expenses | 1,722 |  |  | 1,341 |  |  | 4,600 |  |  | 3,635 |
Total lease costs | $ | 75,115 |  |  | $ | 77,060 |  |  | $ | 225,543 |  |  | $ | 218,848 |
______________________________________________________________________ Notes: 1 During the three and nine months ended October 29, 2022 and October 30, 2021, net (gains) losses on lease modifications related primarily to the early termination of lease agreements for 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. 2During the three and nine months ended October 29, 2022, variable lease costs included certain rent concessions of approximately $1.1 million and $4.6 million, respectively, received by the Company, primarily in Europe, related to the COVID-19 pandemic. During the three and nine months ended October 30, 2021, variable lease costs included certain rent concessions of approximately $2.6 million and $14.5 million, respectively, received by the Company, primarily in Europe, related to the COVID-19 pandemic.
Operating lease liabilities maturity schedule | Maturities of the Company’s operating and finance lease liabilities as of October 29, 2022 are (in thousands):
| Operating Leases |  |  |  |  |  |
Maturity of Lease Liabilities | Non-Related Parties |  | Related Parties |  | Finance Leases |  | Total |  |
Fiscal 2023 | $ | 53,046 |  |  | $ | 1,842 |  |  | $ | 2,142 |  |  | $ | 57,030 |  |  |
Fiscal 2024 | 167,666 |  |  | 7,766 |  |  | 6,950 |  |  | 182,382 |  |  |
Fiscal 2025 | 123,561 |  |  | 7,158 |  |  | 5,180 |  |  | 135,899 |  |  |
Fiscal 2026 | 92,423 |  |  | 6,766 |  |  | 4,788 |  |  | 103,977 |  |  |
Fiscal 2027 | 74,777 |  |  | 7,467 |  |  | 2,401 |  |  | 84,645 |  |  |
After fiscal 2027 | 190,441 |  |  | 28,294 |  |  | 725 |  |  | 219,460 |  |  |
Total lease payments | 701,914 |  |  | 59,293 |  |  | 22,186 |  |  | 783,393 |  |  |
Less: Interest | 70,574 |  |  | 11,887 |  |  | 1,739 |  |  | 84,200 |  |  |
Present value of lease liabilities | $ | 631,340 |  |  | $ | 47,406 |  |  | $ | 20,447 |  |  | $ | 699,193 |  |  |
Finance lease liabilities maturity schedule | Maturities of the Company’s operating and finance lease liabilities as of October 29, 2022 are (in thousands):
| Operating Leases |  |  |  |  |  |
Maturity of Lease Liabilities | Non-Related Parties |  | Related Parties |  | Finance Leases |  | Total |  |
Fiscal 2023 | $ | 53,046 |  |  | $ | 1,842 |  |  | $ | 2,142 |  |  | $ | 57,030 |  |  |
Fiscal 2024 | 167,666 |  |  | 7,766 |  |  | 6,950 |  |  | 182,382 |  |  |
Fiscal 2025 | 123,561 |  |  | 7,158 |  |  | 5,180 |  |  | 135,899 |  |  |
Fiscal 2026 | 92,423 |  |  | 6,766 |  |  | 4,788 |  |  | 103,977 |  |  |
Fiscal 2027 | 74,777 |  |  | 7,467 |  |  | 2,401 |  |  | 84,645 |  |  |
After fiscal 2027 | 190,441 |  |  | 28,294 |  |  | 725 |  |  | 219,460 |  |  |
Total lease payments | 701,914 |  |  | 59,293 |  |  | 22,186 |  |  | 783,393 |  |  |
Less: Interest | 70,574 |  |  | 11,887 |  |  | 1,739 |  |  | 84,200 |  |  |
Present value of lease liabilities | $ | 631,340 |  |  | $ | 47,406 |  |  | $ | 20,447 |  |  | $ | 699,193 |  |  |
Other supplemental information | Other supplemental information is (in thousands):
Lease Term and Discount Rate | Oct 29, 2022 |  |  |  |  |  |
Weighted-average remaining lease term |  |  |  |  |  |  |
Operating leases | 6.1 years |  |  |  |  |  |
Finance leases | 3.8 years |  |  |  |  |  |
Weighted-average discount rate |  |  |  |  |  |  |
Operating leases | 3.9% |  |  |  |  |  |
Finance leases | 4.7% |  |  |  |  |  |
| Nine Months Ended
Supplemental Cash Flow Information | Oct 29, 2022 |  | Oct 30, 2021
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows from operating leases | $ | 166,910 |  |  | $ | 167,444 |
New operating ROU assets obtained in exchange for lease liabilities | $ | 106,427 |  |  | $ | 99,603 |

X
- Definition Assets And Liabilities, Lessee [Table Text Block] + References No definition available. + Details
Name: | ges_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix: | ges_
Data Type: | dtr-types: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: | dtr-types: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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration