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Restructuring Provision (Tables) | 6 Months Ended
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Jul. 31, 2021
Restructuring Charges [Abstract] |
Summary of Rollforward of Provision Related Corporate Initiatives, Including Provision Associated with Restructuring Plan | A summary rollforward of the provision related to the Company’s corporate initiatives, including the provision associated with the Restructuring Plan, is as follows for the six months ended July 31, 2021 (in thousands):
| Balance January 31, 2021 |  |  | Provision |  |  | Non-Cash Use |  |  | Cash Payments |  |  | Balance July 31, 2021 |
Restructuring Plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Severance and Employee Related (1) | $ | 2,378 |  |  | $ | — |  |  | $ | — |  |  | $ | (1,350 | ) |  | $ | 1,028 |
Other (2) |  | 51 |  |  |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | 45 |
Other Corporate Initiatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Severance and Employee Related |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Inventory (3) |  | 407 |  |  |  | — |  |  |  | (45 | ) |  |  | — |  |  |  | 362 |
Accounts receivable (4) |  | 926 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 926 |
Other (2) |  | 19 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19 |
Total | $ | 3,781 |  |  | $ | — |  |  | $ | (45 | ) |  | $ | (1,356 | ) |  | $ | 2,380 |
A summary rollforward of the provision related to the Company’s corporate initiatives, including the provision associated with the Restructuring Plan, is as follows for the six months ended July 31, 2020 (in thousands):
| Balance January 31, 2020 |  |  | Provision |  |  | Non-Cash Use |  |  | Cash Payments |  |  | Balance July 31, 2020 |
Restructuring Plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Severance and Employee Related | $ | — |  |  | $ | 6,966 |  |  | $ | — |  |  | $ | (1,160 | ) |  | $ | 5,806 |
Other (2) |  | — |  |  |  | 402 |  |  |  | (198 | ) |  |  | (115 | ) |  |  | 89 |
Other Corporate Initiatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Severance and Employee Related |  | — |  |  |  | 936 |  |  |  | — |  |  |  | (395 | ) |  |  | 541 |
Inventory (3) |  | — |  |  |  | 3,507 |  |  |  | (47 | ) |  |  | — |  |  |  | 3,460 |
Accounts receivable (4) |  | — |  |  |  | 1,075 |  |  |  | — |  |  |  | — |  |  |  | 1,075 |
Other |  | — |  |  |  | 1,722 |  |  |  | (1,518 | ) |  |  | (167 | ) |  |  | 37 |
Total | $ | — |  |  | $ | 14,608 |  |  | $ | (1,763 | ) |  | $ | (1,837 | ) |  | $ | 11,008 |
The following amounts are included in the Consolidated Balance Sheet at July 31, 2021: (1) $0.6 million included in Accrued payroll and benefits and $0.4 million included in Capital in excess of par value. (2) Balance included in Accrued liabilities. (3) Reserve included in Inventories. (4) Reserve included in Trade receivables, net.
Summary of Corporate Initiative Costs by Operating Segment | The corporate initiative costs by operating segment are as follows:
| For the Three Months Ended July 31, 2020 Provision |  |  | For the Six Months Ended July 31, 2020 Provision |
Watch and Accessory Brands: |  |  |  |  |
United States | $ | 6,631 |  |  | $ | 11,335 |
International |  | 737 |  |  |  | 3,273 |
Total Watch and Accessory Brands |  | 7,368 |  |  |  | 14,608 |
Total Company Stores |  | — |  |  |  | — |
Total Consolidated | $ | 7,368 |  |  | $ | 14,608 |
Cost of sales | $ | — |  |  | $ | 3,508 |
Selling, general and administrative |  | 7,368 |  |  |  | 11,100 |
Total | $ | 7,368 |  |  | $ | 14,608 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
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