XML 57 R44.htm IDEA: XBRL DOCUMENT
v3.23.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jan. 28, 2023
Income Tax Disclosure [Abstract] |
Schedule of income tax expense (benefit) | Income tax expense (benefit) is summarized as follows (in thousands):
| Year Ended
| Jan 28, 2023 |  | Jan 29, 2022 |  | Jan 30, 2021
Federal: |  |  |  |  |
Current | $ | 8 |  |  | $ | 149,811 |  |  | $ | (2,390) |
Deferred | 10,577 |  |  | 9,859 |  |  | (5,274) |
State: |  |  |  |  |
Current | (1,963) |  |  | 10,433 |  |  | 248 |
Deferred | 85 |  |  | 2,443 |  |  | (598) |
Foreign: |  |  |  |  |
Current | 28,844 |  |  | 13,592 |  |  | 8,285 |
Deferred | (1,049) |  |  | (112,458) |  |  | (6,609) |
Total | $ | 36,502 |  |  | $ | 73,680 |  |  | $ | (6,338) |
Schedule of effective income tax rate reconciliation | Actual income tax expense (benefit) differs from expected income tax expense (benefit) obtained by applying the statutory federal income tax rate to earnings before income taxes as follows:
| Year Ended
| Jan 28, 2023 |  | Jan 29, 2022 |  | Jan 30, 2021
Computed “expected” tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes, net of federal benefit | 1.1 | % |  | 1.6 | % |  | 1.2 | %
Unrecognized tax liabilities (benefits) | 2.5 | % |  | (0.6 | %) |  | (6.6 | %)
GILTI | 2.4 | % |  | 0.6 | % |  | — | %
Non-deductible permanent differences | 1.6 | % |  | 0.6 | % |  | 0.4 | %
Tax Reform - repatriation tax adjustment | 0.4 | % |  | 0.2 | % |  | — | %
Subpart F Income | — | % |  | 4.5 | % |  | — | %
Non-deductible participation loss | — | % |  | 1.8 | % |  | 3.6 | %
Intra-entity intellectual property transfer tax rate difference 1 | — | % |  | 1.6 | % |  | — | %
SERP/TOLI | — | % |  | (0.1 | %) |  | 1.9 | %
Foreign derived intangible income 2 | — | % |  | (1.5 | %) |  | — | %
Share-based compensation | (0.2 | %) |  | (0.4 | %) |  | 1.8 | %
Prior year income tax adjustments | (1.2 | %) |  | 0.4 | % |  | 1.3 | %
Valuation reserve 3 | (4.0 | %) |  | 0.7 | % |  | (26.9 | %)
Non-U.S. tax expense (benefit) versus U.S. federal statutory tax rate 4 | (4.8 | %) |  | (2.4 | %) |  | 9.1 | %
Other, net | (0.4 | %) |  | 1.0 | % |  | 0.5 | %
Effective income tax rate | 18.4 | % |  | 29.0 | % |  | 7.3 | %
______________________________________________________________________ 1 During fiscal 2022, the Company completed an intra-entity transfer of intellectual property rights from a U.S. entity to a wholly-owned Swiss subsidiary, resulting in an income tax rate difference of $4.0 million as of January 29, 2022. As of January 28, 2023, the updated rate difference is $5.1 million. 2 During fiscal 2022, the Company recognized an additional foreign-derived intangible income tax benefits of $37.0 million related to the intra-entity transfer of intellectual property rights. 3 Amounts relate primarily to the release of the valuation reserve offset by valuation reserves on net operating losses, other deferred income tax assets arising during the respective period jurisdictions where there have been cumulative net operating losses, limiting the Company’s ability to consider other subjective evidence to continue to recognize the existing deferred income tax assets. 4 The jurisdictional location of pre-tax income (loss) may represent a significant component of the Company’s effective income tax rate as earnings (loss) in foreign jurisdictions are taxed at rates different from the U.S. statutory income tax rate. These amounts exclude the impact of net changes in valuation allowances, audit and other adjustments related to the Company’s non-U.S. operations, as they are reported separately in the appropriate corresponding line items.
Schedule of total income tax expense (benefit) allocation | Total income tax expense (benefit) is allocated as follows (in thousands):
| Year Ended
| Jan 28, 2023 |  | Jan 29, 2022 |  | Jan 30, 2021
Operations | $ | 36,502 |  |  | $ | 73,680 |  |  | $ | (6,338) |
Stockholders’ equity | 450 |  |  | 2,264 |  |  | (1,534) |
Convertible debt | (6,207) |  |  | — |  |  | — |
Total income tax expense (benefit) | $ | 30,745 |  |  | $ | 75,944 |  |  | $ | (7,872) |
Schedule of tax effects of components of other comprehensive income (loss) | The income tax effects of the components of other comprehensive income (loss) are allocated as follows (in thousands):
| Year Ended
| Jan 28, 2023 |  | Jan 29, 2022 |  | Jan 30, 2021
Derivative financial instruments designated as cash flow hedges | $ | (945) |  |  | $ | 1,627 |  |  | $ | (1,387) |
Defined benefit plans | 1,395 |  |  | 637 |  |  | (147) |
Total income tax expense (benefit) | $ | 450 |  |  | $ | 2,264 |  |  | $ | (1,534) |
Schedule of total earnings before income tax expense and noncontrolling interest | Total earnings (loss) before income tax expense (benefit) and noncontrolling interests are comprised as follows (in thousands):
| Year Ended
| Jan 28, 2023 |  | Jan 29, 2022 |  | Jan 30, 2021
Domestic operations | $ | 45,317 |  |  | $ | 141,920 |  |  | $ | (27,984) |
Foreign operations | 152,729 |  |  | 111,809 |  |  | (59,095) |
Earnings (loss) before income tax expense (benefit) and noncontrolling interests | $ | 198,046 |  |  | $ | 253,729 |  |  | $ | (87,079) |
Schedule of tax effects of temporary differences | The income tax effects of temporary differences that give rise to significant portions of deferred income tax assets and liabilities are as follows (in thousands):
| Jan 28, 2023 |  | Jan 29, 2022
Deferred income tax assets: |  |  |
Operating lease liabilities | $ | 156,234 |  |  | $ | 169,771 |
Intangible assets | 95,119 |  |  | 109,887 |
Net operating losses | 45,384 |  |  | 38,583 |
Defined benefit plans | 10,186 |  |  | 11,762 |
Deferred compensation | 7,177 |  |  | 7,632 |
Deferred income | 5,076 |  |  | 5,771 |
Inventory valuation | 4,025 |  |  | 1,679 |
Convertible senior notes hedge transactions | 3,919 |  |  | 6,884 |
Goodwill amortization | 2,019 |  |  | 4,657 |
Sales return and other reserves | 1,615 |  |  | 2,710 |
Account receivable reserve | 1,454 |  |  | 1,780 |
Lease incentives | 1,438 |  |  | 1,918 |
Accrued bonus | 1,046 |  |  | 2,575 |
Uniform capitalization | 919 |  |  | 1,004 |
Excess of financial accounting over tax depreciation/amortization | 649 |  |  | 1,784 |
Other, net | 13,449 |  |  | 13,826 |
Total deferred income tax assets | 349,709 |  |  | 382,223 |
Deferred income tax liabilities: |  |  |
Operating right-of-use assets | (146,243) |  |  | (155,618) |
Convertible senior notes debt discount | — |  |  | (6,207) |
Valuation allowances | (45,063) |  |  | (55,278) |
Net deferred income tax assets | $ | 158,403 |  |  | $ | 165,120 |
Schedule of reconciliation of unrecognized tax benefit | A reconciliation of the beginning and ending amount of gross unrecognized income tax benefit (excluding interest and penalties) is as follows (in thousands):
| Year Ended
| Jan 28, 2023 |  | Jan 29, 2022 |  | Jan 30, 2021
Beginning balance | $ | 51,736 |  |  | $ | 34,246 |  |  | $ | 29,183 |
Additions: |  |  |  |  |
Income tax positions related to the prior year | 3,954 |  |  | 280 |  |  | 110 |
Income tax positions related to the current year | 454 |  |  | 21,616 |  |  | 8,204 |
Reductions: |  |  |  |  |
Income tax positions related to the prior year | (70) |  |  | (2,405) |  |  | (3,251) |
Income tax positions related to the current year | — |  |  | (2,001) |  |  | — |
Foreign currency translation | — |  |  | — |  |  | — |
Ending balance | $ | 56,074 |  |  | $ | 51,736 |  |  | $ | 34,246 |

X
- Definition Tabular disclosure of income tax expense or benefit for the period that has been allocated among continuing operations, discontinued operations, extraordinary items, other comprehensive income, and items charged or credited directly to shareholders' equity. + References No definition available. + Details
Name: | ges_ScheduleOfIncomeTaxExpenseBenefitIntraPeriodTaxAllocationTableTextBlock
Namespace Prefix: | ges_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of tax effect of other comprehensive income. + References No definition available. + Details
Name: | ges_ScheduleOfTaxEffectsOfComponentsOfOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | ges_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration