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Reportable Segment Information - Notes to Financial Statements | 9 Months Ended
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Nov. 01, 2014
Reportable Segment Information [Abstract] |
Reportable Segment Information | NOTE 5 – REPORTABLE SEGMENT INFORMATION: The Company has determined that it has four operating segments, as defined under ASC 280-10, including Cato, It's Fashion, Versona and C redit. As outlined in ASC 280-10, the Company has two reportable segments: R etail and C redit. The Company has aggregated its retail operating segments based on the aggregation criteria outlined in ASC 280-10, which states that two or more operating segments may be aggregated into a single reportable segment if aggregation is consistent with the objective and basic principles of ASC 280-10, if the segments have similar economic characteristics, similar product, similar production processes, similar clients and similar methods of distribution. The Company's retail operating segments have similar economic characteristics and similar operating, financial and competitive risks. They are similar in nature of product, as they all offer women's apparel, shoes and accessories. Merchandise inventory of the Company's operating segments is sourced from the same countries and some of the same vendors, using similar production processes. Customers of the Company's operating segments have similar characteristics. Merchandise for the Company's operating segments is distributed to retail stores in a similar manner through the Company's single distribution center and is subsequently distributed to customers in a similar manner, through its retail stores. The Company operates its women's fashion specialty retail stores in 32 states as of November 1, 2014, principally in the southeastern United States. The Company offers its own credit card to its customers and all credit authorizations, payment processing and collection efforts are performed by a separate subsidiary of the Company. NOTE 5 – REPORTABLE SEGMENT INFORMATION (CONTINUED): The following schedule summarizes certain segment information (in thousands):
Three Months Ended |  |  |  |  | Nine Months Ended |  |  |
November 1, 2014 | Retail | Credit | Total |  | November 1, 2014 | Retail | Credit | Total
Revenues | $ 214,569 | $ 1,441 | $ 216,010 |  | Revenues | $ 742,448 | $ 4,353 | $ 746,801
Depreciation | 5,412 | 10 | 5,422 |  | Depreciation | 16,262 | 35 | 16,297
Interest and other income | (686) | - | (686) |  | Interest and other income | (2,527) | - | (2,527)
Income before taxes | 6,630 | 526 | 7,156 |  | Income before taxes | 78,509 | 1,584 | 80,093
Total assets | 514,727 | 67,762 | 582,489 |  | Total assets | 514,727 | 67,762 | 582,489
Capital expenditures | 7,414 | - | 7,414 |  | Capital expenditures | 21,380 | - | 21,380
Three Months Ended |  |  |  |  | Nine Months Ended |  |  |
November 2, 2013 | Retail | Credit | Total |  | November 2, 2013 | Retail | Credit | Total
Revenues | $ 199,540 | $ 1,503 | $ 201,043 |  | Revenues | $ 697,782 | $ 4,677 | $ 702,459
Depreciation | 5,451 | 8 | 5,459 |  | Depreciation | 16,314 | 30 | 16,344
Interest and other income | (723) | - | (723) |  | Interest and other income | (2,328) | - | (2,328)
Income before taxes | 5,948 | 540 | 6,488 |  | Income before taxes | 76,756 | 1,663 | 78,419
Total assets | 505,595 | 66,532 | 572,127 |  | Total assets | 505,595 | 66,532 | 572,127
Capital expenditures | 13,087 | 88 | 13,175 |  | Capital expenditures | 23,693 | 88 | 23,781
The Company evaluates segment performance based on income before taxes. The Company does not allocate certain corporate expenses or income taxes to the credit segment. The following schedule summarizes the direct expenses of the credit segment which are reflected in S elling, general and administrative expenses (in thousands):
| Three Months Ended |  | Nine Months Ended
|  | November 1, 2014 |  |  | November 2, 2013 |  |  | November 1, 2014 |  |  | November 2, 2013
Bad debt expense | $ | 257 |  | $ | 279 |  | $ | 805 |  | $ | 975
Payroll |  | 213 |  |  | 231 |  |  | 630 |  |  | 696
Postage |  | 181 |  |  | 179 |  |  | 559 |  |  | 558
Other expenses |  | 254 |  |  | 266 |  |  | 740 |  |  | 755
Total expenses | $ | 905 |  | $ | 955 |  | $ | 2,734 |  | $ | 2,984

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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