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Reportable Segment Information - Notes to Financial Statements | 9 Months Ended
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Nov. 02, 2019
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 Credit. As outlined in ASC 280-10, the Company has two reportable segments: Retail and Credit. The Company has aggregated its three retail operating segments, including e-commerce, 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, which require the segments to have similar economic characteristics, products, production processes, clients and 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 for the Company’s retail operating segments is sourced from the same countries and some of the same vendors, using similar production processes. 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. The Company operates its women’s fashion specialty retail stores in 31 states as of November 2, 2019, 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 2, 2019 | Retail | Credit | Total |  | November 2, 2019 | Retail | Credit | Total
Revenues | $190,637 | $886 | $191,523 |  | Revenues | $631,751 | $2,705 | $634,456
Depreciation | 3,843 | 1 | 3,844 |  | Depreciation | 11,522 | 1 | 11,523
Interest and other income | (1,662) | - | (1,662) |  | Interest and other income | (4,491) | - | (4,491)
Income/(Loss) before income taxes | 5,571 | 465 | 6,036 |  | Income/(Loss) before income taxes | 44,251 | 1,357 | 45,608
Capital expenditures | 2,729 | - | 2,729 |  | Capital expenditures | 4,946 | - | 4,946
Three Months Ended |  |  |  |  | Nine Months Ended |  |  |
November 3, 2018 | Retail | Credit | Total |  | November 3, 2018 | Retail | Credit | Total
Revenues | $189,055 | $957 | $190,012 |  | Revenues | $634,360 | $2,869 | $637,229
Depreciation | 4,088 | 6 | 4,094 |  | Depreciation | 12,452 | 18 | 12,470
Interest and other income | (1,374) | - | (1,374) |  | Interest and other income | (3,559) | - | (3,559)
Income/(Loss) before income taxes | 2,140 | 373 | 2,513 |  | Income/(Loss) before income taxes | 35,159 | 1,441 | 36,600
Capital expenditures | 1,345 | - | 1,345 |  | Capital expenditures | 3,224 | - | 3,224
| Retail | Credit | Total |  |  |  |  |
Total assets as of November 2, 2019 | $603,488 | $47,675 | $651,163 |  |  |  |  |
Total assets as of February 2, 2019 | 454,143 | 43,763 | 497,906 |  |  |  |  |
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 Selling, general and administrative expenses (in thousands):
| Three Months Ended |  | Nine Months Ended
|  | November 2, 2019 |  |  | November 3, 2018 |  |  | November 2, 2019 |  |  | November 3, 2018
Payroll | $ | 164 |  | $ | 179 |  | $ | 478 |  | $ | 571
Postage |  | 110 |  |  | 128 |  |  | 351 |  |  | 379
Other expenses |  | 146 |  |  | 271 |  |  | 518 |  |  | 460
Total expenses | $ | 420 |  | $ | 578 |  | $ | 1,347 |  | $ | 1,410

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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