DICK'S SPORTING GOODS, INC., 10-K filed on 3/24/2021
Annual Report
v3.21.1
Cover - USD ($)
 12 Months Ended
Jan. 30, 2021
Mar. 19, 2021
Jul. 31, 2020
Document Information [Line Items]      
Document Annual Report true    
Document Transition Report false    
Document Type 10-K    
Document Period End Date Jan. 30, 2021    
Entity File Number 001-31463    
Entity Registrant Name DICK'S SPORTING GOODS, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 16-1241537    
Entity Address, Address Line One 345 Court Street    
Entity Address, City or Town Coraopolis    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 15108    
City Area Code 724    
Local Phone Number 273-3400    
Title of 12(b) Security Common Stock, $0.01 par value    
Trading Symbol DKS    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float     $ 2,739,909,965
Entity Central Index Key 0001089063    
Document Fiscal Year Focus 2020    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --01-30    
Amendment Flag false    
ICFR Auditor Attestation Flag true    
Common Stock      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   65,545,683  
Class B Common Stock      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   23,735,633  
v3.21.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Income Statement [Abstract]      
Net sales $ 9,584,019 $ 8,750,743 $ 8,436,570
Cost of goods sold, including occupancy and distribution costs 6,533,312 6,196,185 5,998,788
GROSS PROFIT 3,050,707 2,554,558 2,437,782
Selling, general and administrative expenses 2,298,534 2,173,677 1,986,576
Pre-opening expenses 10,696 5,268 6,473
INCOME FROM OPERATIONS 741,477 375,613 444,733
Gain on sale of subsidiaries 0 (33,779) 0
Interest expense 48,812 17,012 10,248
Other (income) expense (19,070) (15,324) 2,565
INCOME BEFORE INCOME TAXES 711,735 407,704 431,920
Provision for income taxes 181,484 110,242 112,056
NET INCOME $ 530,251 $ 297,462 $ 319,864
EARNINGS PER COMMON SHARE:      
Basic (in dollars per share) $ 6.29 $ 3.40 $ 3.27
Diluted (in dollars per share) $ 5.72 $ 3.34 $ 3.24
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:      
Basic (in shares) 84,258 87,502 97,743
Diluted (in shares) 92,639 89,066 98,781
v3.21.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Statement of Comprehensive Income [Abstract]      
NET INCOME $ 530,251 $ 297,462 $ 319,864
OTHER COMPREHENSIVE INCOME (LOSS)      
Foreign currency translation adjustment, net of tax 71 0 (42)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 71 0 (42)
COMPREHENSIVE INCOME $ 530,322 $ 297,462 $ 319,822
v3.21.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Jan. 30, 2021
Feb. 01, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 1,658,067,000 $ 69,334,000
Accounts receivable, net 53,149,000 53,173,000
Income taxes receivable 6,396,000 5,762,000
Inventories, net 1,953,568,000 2,202,275,000
Prepaid expenses and other current assets 88,470,000 79,472,000
Total current assets 3,759,650,000 2,410,016,000
Property and equipment, net 1,300,265,000 1,415,728,000
Operating lease assets 2,149,913,000 2,313,846,000
Intangible assets, net 90,051,000 94,768,000
Goodwill 245,857,000 245,857,000
Deferred income taxes 51,475,000 14,412,000
Other assets 155,648,000 133,933,000
TOTAL ASSETS 7,752,859,000 6,628,560,000
CURRENT LIABILITIES:    
Accounts payable 1,258,093,000 1,001,589,000
Accrued expenses 518,134,000 415,501,000
Operating lease liabilities 472,670,000 422,970,000
Income taxes payable 40,997,000 10,455,000
Deferred revenue and other liabilities 260,304,000 225,959,000
Total current liabilities 2,550,198,000 2,076,474,000
LONG-TERM LIABILITIES:    
Revolving credit borrowings 0 224,100,000
Convertible senior notes due 2025 418,493,000 0
Long-term operating lease liabilities 2,259,308,000 2,453,346,000
Deferred income taxes 0 9,187,000
Other long-term liabilities 185,326,000 133,855,000
Total long-term liabilities 2,863,127,000 2,820,488,000
Commitments and contingencies
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $0.01 per share, authorized shares 5,000,000; none issued and outstanding 0 0
Additional paid-in capital 1,442,298,000 1,253,867,000
Retained earnings 3,064,702,000 2,645,281,000
Accumulated other comprehensive loss (49,000) (120,000)
Treasury stock, at cost; 52,481,010 shares (2,168,266,000) (2,168,266,000)
Total stockholders' equity 2,339,534,000 1,731,598,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,752,859,000 $ 6,628,560,000
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, authorized shares 5,000,000 5,000,000
Treasury stock shares acquired 52,481,010 52,481,010
Common Stock    
STOCKHOLDERS' EQUITY:    
Common stock $ 612,000 $ 593,000
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized shares 200,000,000 200,000,000
Common stock, outstanding shares 61,194,560 59,255,731
Class B Common Stock    
STOCKHOLDERS' EQUITY:    
Common stock $ 237,000 $ 243,000
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized shares 40,000,000 40,000,000
Common stock, outstanding shares 23,735,633 24,291,123
v3.21.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Jan. 30, 2021
Feb. 01, 2020
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, authorized shares 5,000,000 5,000,000
Treasury stock shares acquired 52,481,010 52,481,010
Common Stock    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized shares 200,000,000 200,000,000
Common stock, issued shares 113,675,570 111,736,741
Common stock, outstanding shares 61,194,560 59,255,731
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized shares 40,000,000 40,000,000
Common stock, issued shares 23,735,633 24,291,123
Common stock, outstanding shares 23,735,633 24,291,123
v3.21.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Additional Paid-In Capital
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Loss
Treasury Stock
Common Stock
Common Stock
Common Stock
Class B Common Stock
BALANCE at Feb. 03, 2018 $ 1,941,501   $ 1,177,778 $ 2,205,651 $ 20,488 $ (78) $ (1,442,880) $ 783 $ 247
BALANCE (in shares) at Feb. 03, 2018               78,318,000 24,711,000
Increase (Decrease) in Stockholders' Equity                  
Exchange of Class B common stock for common stock 0             $ 2 $ (2)
Exchange of Class B common stock for common stock (in shares)               170,000 (170,000)
Exercise of stock options 0                
Restricted stock vested     (5)         $ 5  
Restricted stock vested (in shares)               549,000  
Minimum tax withholding requirements (5,428)   (5,427)         $ (1)  
Minimum tax withholding requirements (in shares)               (160,000)  
Net income 319,864     319,864          
Stock-based compensation 41,941   41,941            
Foreign currency translation adjustment, net of taxes (42)         (42)      
Purchase of shares for treasury $ (323,352)           (323,256) $ (96)  
Purchase of shares for treasury (in shares) (9,572,000)             (9,572,000)  
Cash dividends declared per common share of $1.25, $1.10, and $0.90 for the year ended 2020, 2019, and 2018, respectively $ (90,811)     (90,811)          
BALANCE at Feb. 02, 2019 $ 1,904,161 $ 20,488 1,214,287 2,455,192 $ (7,953) (120) (1,766,136) $ 693 $ 245
BALANCE (in shares) at Feb. 02, 2019               69,305,000 24,541,000
Increase (Decrease) in Stockholders' Equity                  
Cash dividends declared per share (in dollars per share) $ 0.90                
Foreign currency translation adjustment, taxes $ 13                
Exchange of Class B common stock for common stock 0             $ 2 $ (2)
Exchange of Class B common stock for common stock (in shares)               250,000 (250,000)
Exercise of stock options 5,565   5,564         $ 1  
Exercise of stock options (in shares)               144,000  
Restricted stock vested 0   (9)         $ 9  
Restricted stock vested (in shares)               853,000  
Minimum tax withholding requirements (9,470)   (9,468)         $ (2)  
Minimum tax withholding requirements (in shares)               (244,000)  
Net income 297,462     297,462          
Stock-based compensation 43,493   43,493            
Purchase of shares for treasury $ (402,240)           (402,130) $ (110)  
Purchase of shares for treasury (in shares) (11,052,000)             (11,052,000)  
Cash dividends declared per common share of $1.25, $1.10, and $0.90 for the year ended 2020, 2019, and 2018, respectively $ (99,420)     (99,420)          
BALANCE at Feb. 01, 2020 $ 1,731,598 $ (7,953) 1,253,867 2,645,281   (120) (2,168,266) $ 593 $ 243
BALANCE (in shares) at Feb. 01, 2020               59,256,000 24,291,000
Increase (Decrease) in Stockholders' Equity                  
Cash dividends declared per share (in dollars per share) $ 1.10                
Equity component value of convertible note issuance $ 160,693   160,693            
Purchase of convertible note hedge (161,057)   (161,057)            
Sale of common stock warrants 105,225   105,225            
Exchange of Class B common stock for common stock 0             $ 6 $ (6)
Exchange of Class B common stock for common stock (in shares)               555,000 (555,000)
Exercise of stock options 37,623   37,615         $ 8  
Exercise of stock options (in shares)               781,000  
Restricted stock vested 0   (8)         $ 8  
Restricted stock vested (in shares)               804,000  
Minimum tax withholding requirements (4,217)   (4,214)         $ (3)  
Minimum tax withholding requirements (in shares)               (202,000)  
Net income 530,251     530,251          
Stock-based compensation 50,177   50,177            
Foreign currency translation adjustment, net of taxes 71         71      
Purchase of shares for treasury $ 0                
Purchase of shares for treasury (in shares) 0                
Cash dividends declared per common share of $1.25, $1.10, and $0.90 for the year ended 2020, 2019, and 2018, respectively $ (110,830)     (110,830)          
BALANCE at Jan. 30, 2021 $ 2,339,534   $ 1,442,298 $ 3,064,702   $ (49) $ (2,168,266) $ 612 $ 237
BALANCE (in shares) at Jan. 30, 2021               61,195,000 23,736,000
Increase (Decrease) in Stockholders' Equity                  
Cash dividends declared per share (in dollars per share) $ 1.25                
Foreign currency translation adjustment, taxes $ (22)                
v3.21.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Statement of Stockholders' Equity [Abstract]      
Foreign currency translation adjustment, taxes $ (22)   $ 13
Accounting Standards Update [Extensible List]   us-gaap:AccountingStandardsUpdate201602Member us-gaap:AccountingStandardsUpdate201409Member
v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 530,251 $ 297,462 $ 319,864
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization, and other 326,014 335,746 307,327
Impairment of a trademark 0 28,296 0
Amortization of convertible notes discount and issuance costs 21,581 0 0
Non-cash lease costs (36,048) (65,298) (62,563)
Deferred income taxes (46,250) (1,160) (5,258)
Stock-based compensation 50,177 43,493 41,941
Gain on sale of subsidiaries 0 (33,779) 0
Changes in assets and liabilities:      
Accounts receivable 2,308 400 16,215
Inventories 248,707 (377,579) (94,131)
Prepaid expenses and other assets 3,898 6,401 10,980
Accounts payable 199,295 94,202 125,632
Accrued expenses 108,420 37,826 21,372
Income taxes payable / receivable 29,908 (9,314) 7,964
Deferred construction allowances 56,713 37,959 27,730
Deferred revenue and other liabilities 57,795 9,957 (4,318)
Net cash provided by operating activities 1,552,769 404,612 712,755
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (224,027) (217,461) (198,219)
Proceeds from sale of other assets 0 49,103 0
Proceeds from sale of subsidiaries, net of cash sold 0 40,387 0
Deposits and purchases of other assets (137) (1,300) 0
Net cash used in investing activities (224,164) (129,271) (198,219)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Revolving credit borrowings 1,291,700 2,263,550 1,875,400
Revolving credit repayments (1,515,800) (2,039,450) (1,875,400)
Proceeds from issuance of convertible notes 575,000 0 0
Payments for purchase of bond hedges (161,057) 0 0
Proceeds from issuance of warrants 105,225 0 0
Transaction costs paid in connection with convertible notes issuance (17,396) 0 0
Payments on other long-term debt and finance lease obligations (826) (56,851) (5,242)
Proceeds from exercise of stock options 37,623 5,565 0
Minimum tax withholding requirements (4,217) (9,470) (5,428)
Cash paid for treasury stock 0 (402,240) (323,352)
Cash dividends paid to stockholders (107,404) (98,312) (89,273)
Increase (decrease) in bank overdraft 57,209 17,548 (78,799)
Net cash provided by (used in) financing activities 260,057 (319,660) (502,094)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 71 0 (42)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,588,733 (44,319) 12,400
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 69,334 113,653 101,253
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,658,067 69,334 113,653
Supplemental disclosure of cash flow information:      
Accrued property and equipment 26,981 32,746 18,937
Cash paid during the fiscal year for interest 20,517 16,362 9,317
Cash paid during the fiscal year for income taxes $ 203,082 $ 123,698 $ 114,018
v3.21.1
Basis of Presentation and Summary of Significant Accounting Policies
 12 Months Ended
Jan. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies
DICK’S Sporting Goods, Inc. (together with its subsidiaries, referred to as “the Company”, “we”, “us” and “our” unless specified otherwise) is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories. As of January 30, 2021, we operated 728 DICK’S Sporting Goods locations across the United States, serving and inspiring athletes and outdoor enthusiasts to achieve their personal best through a blend of dedicated teammates, in-store services and unique specialty shop-in-shops. The Company also owns and operates Golf Galaxy and Field & Stream specialty concept stores, as well as GameChanger, a youth sports mobile app for video streaming, scorekeeping, scheduling and communications. In addition, the Company offers its products through an eCommerce platform that is integrated with its store network, providing athletes with expertise as well as the convenience of a 24-hour storefront.
Fiscal Year
The Company’s fiscal year ends on the Saturday closest to the end of January. Unless otherwise stated, references to years in this report relate to fiscal years, rather than to calendar years. Fiscal years 2020, 2019 and 2018 ended on January 30, 2021, February 1, 2020 and February 2, 2019, respectively. All fiscal years presented include 52 weeks of operations.
Principles of Consolidation
The Consolidated Financial Statements include DICK’S Sporting Goods, Inc. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Reclassifications
Certain reclassifications have been made to prior year amounts within the consolidated financial statements and related footnotes to conform to the current year presentation, including reclassification of non-cash lease costs from depreciation, amortization and other as a separate line within the Consolidated Statements of Cash Flows.
Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents
Cash and cash equivalents consist of cash on hand and all highly liquid instruments purchased with a maturity of three months or less at the date of purchase. Cash and cash equivalents are stated at fair value.
Cash Management
The Company’s cash management system provides for the reimbursement of all major bank disbursement accounts on a daily basis. Accounts payable at January 30, 2021 and February 1, 2020 include $111.2 million and $54.0 million, respectively, of checks drawn in excess of cash balances not yet presented for payment.
Accounts Receivable
Accounts receivable primarily consist of amounts due from vendors and landlords. The Company’s allowance for credit losses totaled $2.7 million and $3.0 million at January 30, 2021 and February 1, 2020, respectively.
Inventories
Inventories are stated at the lower of weighted average cost and net realizable value. Inventory costs consist of the direct cost of merchandise including freight. Inventories are net of shrinkage, obsolescence, other valuation accounts and vendor allowances totaling $101.3 million and $131.7 million at January 30, 2021 and February 1, 2020, respectively.
Property and Equipment
Property and equipment are recorded at cost and include finance leases. Renewals and betterments are capitalized. Repairs and maintenance are expensed as incurred.
Depreciation is computed using the straight-line method over the following estimated useful lives:
Buildings
40 years
Leasehold improvements
10-25 years
Furniture, fixtures and equipment
3-7 years
Computer software
3-10 years

For leasehold improvements and property and equipment under finance lease agreements, depreciation is calculated using the straight-line method over the shorter of the estimated useful lives of the assets or the lease term. Leasehold improvements made after lease commencement are depreciated over the shorter of their estimated useful lives or the remaining lease term, including renewal periods, if reasonably assured. The Company recognized depreciation expense of $317.5 million, $307.2 million and $285.8 million, in fiscal 2020, 2019 and 2018, respectively.
Impairment of Long-Lived Assets
The Company evaluates its long-lived assets and assesses whether the carrying values have been impaired whenever events and circumstances indicate that the carrying value of these assets may not be recoverable based on estimated undiscounted future cash flows. An impairment loss is recognized when the estimated undiscounted cash flows expected to result from the use of the asset plus eventual net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value as determined based on quoted market prices or through the use of other valuation techniques. The related impairment expense is recorded within selling, general and administrative expenses on the Consolidated Statements of Income.
Goodwill
Goodwill represents the excess of acquisition cost over the fair value of the net assets of acquired entities. The Company assesses the carrying value of goodwill annually or whenever circumstances indicate that a decline in value may have occurred.
The Company’s goodwill impairment test compares the fair value of each reporting unit to its carrying value. The Company determines the fair value of its reporting units using a combination of the income approach, by using a discounted cash flow model, and a market value approach. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that reporting unit, goodwill is not impaired. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, an impairment charge to selling, general and administrative expenses is recorded to reduce the carrying value to the fair value. A reporting unit is the operating segment, or a business unit one level below that operating segment, for which discrete financial information is prepared and regularly reviewed by management.
Intangible Assets
Intangible assets consist of both indefinite-lived and finite-lived assets. A majority of the Company’s intangible assets are indefinite-lived, consisting primarily of trademarks and acquired trade names, which the Company tests annually for impairment, or whenever circumstances indicate that a decline in value may have occurred, using Level 3 inputs. The Company estimates the fair value of these intangible assets based on an income approach using the relief-from-royalty method.
The Company’s finite-lived intangible assets consist primarily of customer lists and other acquisition-related assets. Finite-lived intangible assets are amortized over their estimated useful economic lives and are reviewed for impairment when factors indicate that an impairment may have occurred. The Company recognizes an impairment charge when the estimated fair value of the intangible asset is less than its carrying value.
Self-Insurance
The Company is self-insured for certain losses related to health, workers' compensation and general liability insurance, although we maintain stop-loss coverage with third-party insurers to limit our liability exposure. Liabilities associated with these losses are estimated in part by considering historical claims experience, industry factors, severity factors and other actuarial assumptions.
Pre-opening Expenses
Pre-opening expenses, which consist primarily of rent, marketing, payroll and recruiting costs, are expensed as incurred. Rent is recognized within pre-opening expense from the date the Company takes possession of a site through the date of store opening.
Earnings Per Common Share
Basic earnings per common share is computed based on the weighted average number of shares of common stock outstanding for a given period.
Diluted earnings per common share is computed based on the weighted average number of shares of common stock outstanding for a period, plus the effect of dilutive potential common shares outstanding using the treasury stock method. Dilutive potential common shares include shares the Company could be obligated to issue from its Convertible Senior Notes and warrants (see Note 9-Convertible Senior Notes for further discussion) and stock-based awards, such as stock options and restricted stock.
Stock-Based Compensation
The Company has the ability to grant teammates a number of different stock-based awards, including restricted shares of common stock, restricted stock units and stock options to purchase common stock, under the DICK’S Sporting Goods, Inc. 2012 Stock and Incentive Plan, as Amended and Restated (the “2012 Plan”). The Company records stock-based compensation expense based on the fair value of stock awards at the grant date and recognizes the expense over the employees’ service periods.
Income Taxes
The Company utilizes the asset and liability method of accounting for income taxes and provides deferred income taxes for temporary differences between the amounts reported for assets and liabilities for financial statement purposes and for income tax reporting purposes, using enacted tax rates in effect in the years in which the differences are expected to reverse. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that will more likely than not be realized upon ultimate settlement. Interest and penalties from income tax matters are recognized in income tax expense.
Revenue Recognition
Sales Transactions
Revenue is recognized upon satisfaction of all contractual performance obligations and transfer of control to the customer and is measured as the amount of consideration to which the Company expects to be entitled to in exchange for corresponding goods or services. Substantially all of the Company’s sales are single performance obligation arrangements for retail sale transactions for which the transaction price is equivalent to the stated price of the product or service, net of any stated discounts applicable at a point in time. Each sales transaction results in an implicit contract with the customer to deliver a product or service at the point of sale. Revenue from retail sales is recognized at the point of sale. Sales tax amounts collected from customers that are assessed by a governmental authority are excluded from revenue.
Revenue from eCommerce sales, including vendor-direct sales arrangements, is recognized upon shipment of merchandise. Shipping and handling activities occurring subsequent to the transfer of control to the customer are accounted for as fulfillment costs rather than as a promised service. A provision for anticipated merchandise returns is provided through a reduction of sales and cost of goods sold in the period that the related sales are recorded.
Deferred Revenue
Revenue from gift cards and returned merchandise credits (collectively the “cards”) is deferred and recognized upon their redemption. Income from unredeemed cards is recognized on the Consolidated Statements of Income within net sales in proportion to the pattern of rights exercised by the customer in future periods. The Company performs an evaluation of historical redemption patterns from the date of original issuance to estimate future period redemption activity. During the fiscal years ended January 30, 2021 and February 1, 2020, the Company recognized $18.3 million and $17.4 million of gift card breakage revenue, respectively, and experienced approximately $74.7 million and $82.0 million of gift card redemptions in fiscal 2020 and fiscal 2019, respectively, that had been included in its gift card liability as of February 1, 2020 and February 2, 2019, respectively. Based on the Company’s historical experience, the majority of gift card revenue is recognized within 12 months of deferral. The cards have no expiration date.
Loyalty program points are accrued at the estimated retail value per point, net of estimated breakage. The Company estimates the breakage of loyalty points based on historical redemption rates experienced within the loyalty program. Based on the Company’s customer loyalty program policies, the majority of program points earned are redeemed or expire within 12 months. See Note 6–Deferred Revenue and Other Liabilities for additional information regarding the amount of these liabilities at January 30, 2021 and February 1, 2020.
Net sales by category
The following table disaggregates the amount of net sales attributable to hardlines, apparel and footwear for the periods presented (in millions):
 
Fiscal Year
202020192018
Hardlines (1)
$4,428.5 $3,695.2 $3,632.1 
Apparel
3,180.2 3,109.0 2,962.4 
Footwear
1,834.3 1,811.4 1,719.5 
Other (2)
141.0 135.1 122.6 
Total net sales$9,584.0 $8,750.7 $8,436.6 
(1)Includes items such as sporting goods equipment, fitness equipment, golf equipment and hunting and fishing gear.
(2)Includes the Company’s non-merchandise sales categories, including in-store services, shipping revenues, software subscription revenues and credit card processing revenues.
Cost of Goods Sold
Cost of goods sold includes: the cost of merchandise (inclusive of vendor allowances, inventory shrinkage and inventory write-downs for the lower of cost or net realizable value); freight; distribution; shipping; and store occupancy costs. The Company defines merchandise margin as net sales less the cost of merchandise sold. Store occupancy costs include rent, common area maintenance charges, real estate and other asset-based taxes, general maintenance, utilities, depreciation and certain insurance expenses.
Selling, General and Administrative Expenses
Selling, general and administrative expenses include store and field support payroll and fringe benefits, advertising, bank card charges, operating costs associated with the Company’s internal eCommerce platform, information systems, marketing, legal, accounting, other store expenses and all expenses associated with operating the Company’s Customer Support Center (“CSC”).
Advertising Costs
Production costs for all forms of advertising and the costs to run the advertisements are expensed the first time the advertisement takes place. Advertising expense, net of cooperative advertising, was $293.4 million, $338.7 million and $322.2 million for fiscal 2020, 2019 and 2018, respectively.
Business Development Allowances
Business development allowances include allowances, rebates and cooperative advertising funds received from vendors. These funds are determined for each fiscal year and the majority are based on various quantitative contract terms. Amounts expected to be received from vendors for the purchase of merchandise inventories (“vendor allowances”) are recognized as a reduction of cost of goods sold as the merchandise is sold. Amounts that represent a reimbursement of costs incurred, such as advertising (“cooperative advertising”), are recorded as a reduction to the related expense in the period that the related expense is incurred. The Company records an estimate of earned allowances based on the latest projected purchase volumes and advertising forecasts.
Segment Information
The Company is a specialty omni-channel retailer that offers a broad range of products in its specialty retail stores, which are primarily located in the eastern United States. Given the economic characteristics of the store formats, the similar nature of the products sold, the type of customer and method of distribution, the Company’s operating segments are aggregated within one reportable segment. Refer to Revenue Recognition within this Note for additional disclosure of net sales by merchandise category.
Construction Allowances
All of the Company’s store locations are leased. The Company may receive reimbursement from a landlord for some of the cost of the structure, subject to satisfactory fulfillment of applicable lease provisions. These reimbursements may be referred to as tenant allowances, construction allowances or landlord reimbursements (“construction allowances”). The Company’s accounting for construction allowances differs depending on whether the Company is deemed to have control of the underlying asset prior to commencement of the lease.
•If the Company is not deemed to have control of the underlying asset prior to lease commencement, reimbursement from a landlord for tenant improvements is classified as a lease incentive and included as a reduction to the related operating lease asset on the Consolidated Balance Sheets. The incentive is amortized as part of operating lease expense on a straight-line basis over the term of the lease. Landlord reimbursements from these transactions are included in cash flows from operating activities as a change in deferred construction allowances.
•If the Company is deemed to have control of the underlying asset prior to lease commencement, a sale and leaseback of the asset occurs when construction of the asset is complete and the lease term begins, if relevant sale-leaseback accounting criteria are met. Any gain or loss from the transaction is included within deferred revenue and other liabilities on the Consolidated Balance Sheets and is deferred and amortized as rent expense on a straight-line basis over the term of the lease. The Company reports the amount of cash received for the construction allowance as construction allowance receipts within the financing activities section of its Consolidated Statements of Cash Flows when such allowances are received prior to completion of the sale-leaseback transaction. The Company reports the amount of cash received from construction allowances as proceeds from sale leaseback transactions within the investing activities section of its Consolidated Statements of Cash Flows when such amounts are received after the sale-leaseback accounting criteria have been achieved.
Leases
The Company determines whether a contract is or contains a lease at contract inception. Beginning in fiscal 2019, operating lease assets and operating lease liabilities are recognized at the lease’s commencement date based on the present value of remaining fixed lease payments over the lease term. As the rate implicit in the lease is not readily determinable in most of the Company’s leases, the Company uses its incremental borrowing rate based on the information available at a lease’s commencement date to determine the present value of lease payments. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The operating lease asset also includes any fixed lease payments made, net of lease incentives, and incurred initial direct costs.
Operating lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are generally expensed as incurred and may include certain index-based changes in rent and other non-fixed payments for services provided by the lessor. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company’s leases do not contain any material residual guarantees or material restrictive covenants.
In response to the COVID-19 pandemic, the FASB issued interpretive guidance in April 2020 that provided entities the option to elect to account for lease concessions as though the enforceable rights and obligations existed in the original lease. The Company did not elect this option; accordingly, any rent deferrals or concessions that were granted by landlords during fiscal 2020 were treated as lease modifications and not as variable rent reductions. Since lease modification accounting generally requires recognition of changes in rent payments over the lease term, the Company’s fiscal 2020 earnings were not materially impacted by rent deferrals or concessions.
COVID-19 Update
In response to the public health crisis posed by the COVID-19 pandemic, the Company prioritized the health and safety of its teammates and athletes by temporarily closing its stores to the public, with all stores being re-opened by the end of June 2020. The Company also closed its corporate office, using its business continuity plans to operate corporate support functions under remote work arrangements that currently remain in place.
In response to the potential impacts and uncertainty about the duration of the COVID-19 pandemic, the Company took precautionary measures to increase and maintain its liquidity, which included reducing planned operating expenses, inventory receipts and capital expenditures, negotiating rent deferrals with landlords, amending its Credit Facility to increase borrowing capacity and issuing $575 million of convertible senior notes due 2025 (“Convertible Senior Notes”). As a result of the Company’s precautionary measures and its operating results since the re-opening of all of its stores, the Company had $1.66 billion of cash and cash equivalents on hand and no borrowings outstanding on its Credit Facility as of January 30, 2021.
In response to the COVID-19 pandemic, the Company implemented additional safety and cleaning protocols at its stores, distribution centers and corporate offices and provided a 15% pay premium to store and distribution center teammates through the end of fiscal 2020. As a result of these and other actions it took to prioritize the health and well-being of its teammates and athletes, the Company incurred pre-tax teammate compensation and safety costs of approximately $175 million during fiscal 2020.
On March 27, 2020, the United States Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which among other things, promulgated various income tax provisions, including but not limited to, modifications for net operating losses, an accelerated time frame for refunds associated with prior minimum taxes and modifications of the limitation on business interest. The CARES Act also provides for refundable employee retention tax credits for wages paid to employees who are unable to work during the COVID-19 pandemic and the deferral of the employer-paid portion of social security taxes. Through January 30, 2021, employee retention tax credits provided under the CARES Act reduced the Company’s operating expenses by approximately $17.4 million, substantially all of which related to wages and benefits the Company paid to teammates during the period of its temporary store closures earlier in the fiscal year. In addition, the Company has deferred qualifying payroll and other tax payments of approximately $53.2 million in the current year as permitted by the CARES Act, of which $26.8 million is due within 12 months and was classified within current liabilities at January 30, 2021.
The impact of the COVID-19 pandemic on the Company’s business remains uncertain, including the longer-term economic recovery and consumer discretionary spending behavior when the pandemic subsides. Therefore, the Company currently cannot estimate the full impact that the COVID-19 pandemic may have on its financial condition and future results of operations, and it will continue to actively monitor its impact to the business. Accordingly, the Company continues to consider and assess the potential impact that the COVID-19 pandemic could have on its operations, as well as the assumptions and estimates used to prepare its financial statements such as inventory valuations, fair value measurements and potential asset impairment charges. These assumptions and estimates may change in the future as new events occur and additional information is obtained. If the COVID-19 pandemic causes another period of store closures or a change in customer behavior, such future events may have a material adverse impact on the Company's results of operations, financial position and liquidity.
Recently Adopted Accounting Pronouncements and Transition
Revenue Recognition
On February 4, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09 (“Topic 606”) using the modified retrospective approach for all contracts not completed as of the adoption date. The primary impact to the Company’s accounting policies of adopting Topic 606 related to the timing of revenue recognition for gift card breakage. Gift card breakage prior to adoption was recognized at the point gift card redemption was deemed remote. As a result of the adoption of Topic 606, the Company recognizes gift card breakage over time in proportion to the pattern of rights exercised by the customer. This change in accounting policy was accounted for through a cumulative effect adjustment to increase beginning retained earnings during the first quarter of fiscal 2018. The Company reclassified $27.7 million from deferred revenue and other liabilities resulting in a cumulative effect adjustment of $20.5 million, net of tax, to retained earnings on the Company’s Consolidated Balance Sheets and Consolidated Statement of Changes in Stockholders’ Equity. Additionally, the adoption of Topic 606 resulted in insignificant financial statement presentation reclassifications related to the Company’s customer loyalty program and sales return reserve.
In addition, the Company elected the practical expedient within Topic 606 related to sales taxes that are assessed by a governmental authority, which allows for the exclusion of sales tax from the transaction price. The Company also elected the practical expedient within Topic 606 related to shipping and handling costs, which allows for shipping and handling activities occurring subsequent to the transfer of control to the customer to be accounted for as fulfillment costs rather than a promised service.
Leases
In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases (Topic 842), which required an entity to recognize lease assets and lease liabilities on the balance sheet and to disclose key information about an entity’s leasing arrangements. ASU 2016-02 was effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Leases (Topic 842), Targeted Improvements, which affected certain aspects of the previously issued guidance. Amendments included an additional transition option that allowed entities to apply the new standard on the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings, as well as a new practical expedient for lessors.
On February 3, 2019, the Company adopted ASU 2016-02 and all related amendments using the optional transition method and elected the package of practical expedients permitted under the transition guidance within the new standard. Such election allowed the Company to not reassess whether any expired or existing contracts are or contain leases, not to reassess the lease classification for any expired or existing leases, and not to reassess initial direct costs for any existing leases. The Company also elected the practical expedient related to land easements. The Company did not elect the practical expedient of hindsight when determining the lease term of existing contracts at the effective date.
The Company has lease agreements with non-lease components that relate to the lease components and elected the practical expedient to account for non-lease components, and the lease components to which they relate, as a single lease component for all classes of underlying assets. The Company also elected to keep short-term leases with an initial term of 12 months or less off the Consolidated Balance Sheet.
Adoption of these standards did not materially affect our consolidated net income or cash flows, but resulted in the recognition of $2.5 billion of lease assets and $3.1 billion of lease liabilities as of February 3, 2019. In connection with the adoption, pre-existing liabilities for deferred rent and various lease incentives were reclassified as a component of the lease assets. Accordingly, the Company recorded an $8.0 million adjustment to opening retained earnings, primarily resulting from the impairment of lease assets recognized at adoption.
Financial Instruments
In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which introduces new guidance for estimating credit losses on certain types of financial instruments based on expected losses and the timing of the recognition of such losses. The Company adopted ASU 2016-13 during the first quarter of fiscal 2020. The adoption did not have a significant impact on the Company’s financial condition, results of operations, cash flows and disclosures.
Intangible Assets
In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted Subtopic 350-40 during the first quarter of fiscal 2020 using a prospective approach; the adoption did not have a significant impact on the Company's financial statements.
Recently Issued Accounting Pronouncements
Income Taxes
In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This update simplifies the accounting for income taxes by removing certain exceptions to the general principles in Accounting Standard Codification (“ASC”) 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for annual and interim reporting periods beginning after December 15, 2020. Early adoption of the amendments is permitted. Depending on the amendment, adoption may be applied on a retrospective, modified retrospective or prospective basis. The Company is currently evaluating the impact of adoption on the Company’s financial condition, results of operations, cash flows and disclosures, which is not expected to be significant.
Reference Rate Reform
In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The update provides optional guidance for a limited period of time to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as the London Interbank Offered Rate (“LIBOR”). The amendments in this ASU can be applied anytime between the first quarter of fiscal 2020 and the fourth quarter of fiscal 2022 and apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The impact of Topic 848 on the Company's financial statements and related disclosures is not expected to be significant.
Convertible Instruments
In August 2020, the FASB issued ASU 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40),” which simplifies the accounting for convertible debt instruments and convertible preferred stock by reducing the number of accounting models and the number of embedded conversion features that could be recognized separately from the primary contract. ASU 2020-06 also enhances transparency and improves disclosures for convertible instruments and earnings per share guidance. It is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those fiscal years, and it permits the use of either the modified retrospective or fully retrospective method of transition. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company is currently evaluating the timing of adoption as well as the impact that the adoption of ASU 2020-06 will have on its financial statements, but it anticipates that adoption will result in a reduction in non-cash interest expense related to the Convertible Senior Notes.
v3.21.1
Earnings Per Common Share
 12 Months Ended
Jan. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings per Common Share
The computations for basic and diluted earnings per common share were as follows for the periods presented (in thousands, except per share data):
 
Fiscal Year Ended
 
202020192018
Net income$530,251 $297,462 $319,864 
Weighted average common shares outstanding - basic84,258 87,502 97,743 
Dilutive effect of stock-based awards4,185 1,564 1,038 
Dilutive effect of Convertible Senior Notes and warrants4,196 — — 
Weighted average common shares outstanding - diluted92,639 89,066 98,781 
 Earnings per common share - basic$6.29 $3.40 $3.27 
 Earnings per common share - diluted$5.72 $3.34 $3.24 
Potentially dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. Anti-dilutive options and restricted stock awards excluded from the calculation of earnings per share for fiscal years 2020, 2019, and 2018 were 1.7 million, 3.0 million, and 3.5 million, respectively. Approximately 3.5 million shares included in weighted average common shares outstanding for the year ended January 30, 2021 from the Convertible Senior Notes will be offset at settlement by shares delivered from the bond hedge purchased by the Company. The shares provided by the bond hedge are anti-dilutive; accordingly, they are not treated as a reduction to diluted weighted average shares outstanding for fiscal 2020. See Note 9–Convertible Senior Notes.
v3.21.1
Property and Equipment
 12 Months Ended
Jan. 30, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment are recorded at cost and consist of the following as of the end of the fiscal periods presented below (in thousands):
20202019
Buildings and land
$328,417 $322,618 
Leasehold improvements
1,729,239 1,671,782 
Furniture, fixtures and equipment
1,158,691 1,148,670 
Computer software
460,004 424,584 
Total property and equipment
3,676,351 3,567,654 
Less: accumulated depreciation and amortization
(2,376,086)(2,151,926)
Net property and equipment
$1,300,265 $1,415,728 
The amounts above include construction in progress of $69.2 million and $44.7 million for fiscal 2020 and 2019, respectively.
v3.21.1
Goodwill and Other Intangible Assets
 12 Months Ended
Jan. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Intangible Assets
Goodwill
The following table summarizes changes in the carrying amount of goodwill, which is reported net of $111.3 million in accumulated impairments in each period, for the fiscal periods presented (in thousands):
20202019
Goodwill, balance at beginning of year
$245,857 $250,476 
Sale of subsidiaries— (4,619)
Goodwill, balance at end of year$245,857 $245,857 

No impairment charges were recorded against goodwill in fiscal 2020, 2019 or 2018.
Intangible Assets
The components of intangible assets were as follows as of the end of the fiscal years presented (in thousands):
 
20202019
 
Gross AmountAccumulated AmortizationGross AmountAccumulated Amortization
Trademarks (indefinite-lived)
$61,315 $— $60,910 $— 
Trade names (indefinite-lived)
15,660 — 15,660 — 
Customer lists
18,195 (11,604)18,195 (9,176)
Acquired technology and other finite-lived intangible assets
12,016 (10,773)20,634 (17,551)
Other indefinite-lived intangible assets
5,242 — 6,096 — 
Total intangible assets
$112,428 $(22,377)$121,495 $(26,727)

The Company had indefinite-lived and finite-lived intangible assets, net of accumulated amortization, of $82.2 million and $7.8 million, respectively, as of January 30, 2021 and $82.7 million and $12.1 million, respectively, as of February 1, 2020. Amortization of the Company’s finite-lived intangible assets was $4.3 million, $5.3 million, and $6.4 million in fiscal 2020, 2019, and 2018, respectively.
In fiscal 2019, the Company sold two technology subsidiaries, Blue Sombrero and Affinity Sports, to Stack Sports (unaffiliated with the Company’s Executive Chairman, Edward Stack) for net cash proceeds of $40.4 million. In connection with the sale, the Company recorded a pre-tax gain of $33.8 million and disposed of goodwill and intangible assets, net of accumulated amortization, of $4.6 million and $2.1 million, respectively.
The Company expects to recognize amortization expense on existing finite-lived intangible assets over the next five years as follows (in thousands):
Fiscal Year
Estimated Amortization Expense
2021$3,626 
20222,473 
20231,544 
2024191 
   Total
$7,834 
v3.21.1
Accrued Expenses
 12 Months Ended
Jan. 30, 2021
Accrued Liabilities, Current [Abstract]  
Accrued Expenses Accrued Expenses
Accrued expenses consist of the following as of the end of the fiscal periods presented (in thousands):
20202019
Accrued payroll, withholdings and benefits$270,895 $203,200 
Accrued real estate taxes, utilities and other occupancy costs78,836 67,354 
Accrued property and equipment26,981 32,756 
Accrued sales tax30,175 21,214 
Other111,247 90,977 
Total accrued expenses$518,134 $415,501 
v3.21.1
Deferred Revenue and Other Liabilities
 12 Months Ended
Jan. 30, 2021
Deferred Credits and Other Liabilities [Abstract]  
Deferred Revenue and Other Liabilities Deferred Revenue and Other Liabilities
Deferred revenue and other liabilities consist of the following as of the end of the fiscal periods presented (in thousands):
20202019
Current:
  
Deferred gift card revenue
$173,786 $159,417 
Customer loyalty program
41,600 32,955 
Other
44,918 33,587 
Total current deferred revenue and other liabilities
$260,304 $225,959 
Long-term:
  
Deferred compensation$125,696 $99,686 
Other
59,630 34,169 
Total other long-term liabilities
$185,326 $133,855 
v3.21.1
Leases
 12 Months Ended
Jan. 30, 2021
Leases [Abstract]  
Leases Leases
The Company leases all of its stores, three of its distribution centers and certain equipment under non-cancellable operating leases that expire at various dates through 2033. The Company’s stores generally have initial lease terms of 10 to 15 years and contain multiple five-year renewal options and rent escalation provisions. The lease agreements provide primarily for the payment of minimum annual rentals, costs of utilities, property taxes, maintenance, common areas and insurance.
The components of lease cost for the following fiscal periods presented were as follows (in thousands):
20202019
Operating lease cost$584,392 $590,381 
Short-term lease cost10,625 7,579 
Variable lease cost119,007 119,452 
Sublease income(10,798)(5,135)
Total lease cost$703,226 $712,277 
Prior to the adoption of ASU 2016-02, Leases (Topic 842), rent expense under operating leases totaled $530.9 million in fiscal 2018.
Supplemental cash flow information related to operating leases for the following fiscal years presented were as follows (in thousands):
20202019
  Cash paid for amounts included in the measurement of operating lease liabilities$620,529 $655,679 
  Non-cash operating lease assets and liabilities obtained in exchange for new or
modified leases		$299,619 $244,153 
Supplemental balance sheet information related to operating leases were as follows:
January 30,
2021		February 1,
2020
  Weighted average remaining lease term for operating leases6.40 years6.71 years
  Weighted average discount rate for operating leases6.44 %6.57 %

Future maturities of operating lease liabilities as of January 30, 2021 were as follows (in thousands):
Fiscal Year
2021$687,983 
2022614,897 
2023535,486 
2024436,699 
2025344,066 
Thereafter707,293 
Total future undiscounted lease payments3,326,424 
Less: imputed interest(594,446)
      Total reported lease liability$2,731,978 
The Company has entered into operating leases, primarily related to future store locations, that have not yet commenced. As of January 30, 2021, the future minimum payments on these leases approximated $67.3 million.
The Company acts as sublessor on several operating leases. As of January 30, 2021, total future minimum rentals under non-cancellable subleases approximated $66.6 million.
v3.21.1
Revolving Credit Facility
 12 Months Ended
Jan. 30, 2021
Debt Disclosure [Abstract]  
Revolving Credit Facility Revolving Credit Facility
On March 27, 2020, the Company amended its existing $1.6 billion senior secured revolving credit facility, which matures on June 28, 2024, to increase aggregate commitments to $1.855 billion (the “Credit Facility”). The amended Credit Facility includes the ability to issue letters of credit up to $150.0 million in the aggregate to be issued in the form of letters of credit and allows the Company, upon the satisfaction of certain conditions, to request up to approximately $245.0 million in additional borrowing capacity, subject to existing or new lenders agreeing to provide such additional revolving commitments. The Credit Facility is secured by a first priority security interest in certain property and assets, including receivables, inventory, deposit accounts, securities accounts and other personal property of the Company and is guaranteed by the Company’s domestic subsidiaries. The unused portion of the Credit Facility is subject to a commitment fee of 0.20% per year.
The annual interest rates applicable to loans under the Credit Facility are, at the Company’s option, equal to a base rate or an adjusted LIBOR rate plus, in each case, an applicable margin percentage. The March 27, 2020 amendment increased the applicable margins to the highest level under the existing pricing grid, or from 0.125% to 0.375% for base rate loans and from 1.125% to 1.375% for adjusted LIBOR rate loans. These margin percentages will be in effect until the Company elects to lower the aggregate commitments under the Credit Facility so that they no longer exceed $1.6 billion. Other modifications included introducing a LIBOR “floor” of 0.75% for purposes of calculating the interest rate on LIBOR based loans and modifying the borrowing base definition so that certain junior liens do not automatically disqualify eligible receivables and inventory from inclusion in the borrowing base.
The Credit Facility contains a covenant that requires the Company to maintain a minimum adjusted availability of 7.5% of its borrowing base. The Credit Facility also contains certain covenants that could, within specific predefined circumstances, limit the Company’s ability to, among other things: incur or guarantee additional indebtedness; pay distributions on, redeem or repurchase capital stock; redeem or repurchase subordinated debt; make certain investments; sell assets; or consolidate, merge or transfer all or substantially all of the Company’s assets. Other than in certain limited conditions, the Company is permitted under the Credit Facility to continue to pay dividends and repurchase shares pursuant to its stock repurchase program. As of January 30, 2021, the Company was in compliance with the terms of the Credit Facility.
The table below presents selected Credit Facility information as of the end of the following fiscal years (in thousands):
20202019
Outstanding borrowings under Credit Facility
$— $224,100 
Remaining borrowing capacity under Credit Facility$1,396,436 $1,359,769 
Outstanding letters of credit under Credit Facility$16,128 $16,131 
v3.21.1
Convertible Senior Notes
 12 Months Ended
Jan. 30, 2021
Convertible Senior Notes [Abstract]  
Convertible Senior Notes Convertible Senior Notes
Overview
In April 2020, the Company closed on an aggregate $575.0 million of 3.25% Convertible Senior Notes due 2025, including the exercise of the full $75.0 million over-allotment option, receiving proceeds of $557.6 million, net of $17.4 million of transaction fees and other third-party offering expenses. The Convertible Senior Notes accrue interest at a rate of 3.25% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2020 and mature on April 15, 2025, unless earlier repurchased, redeemed or converted.
The Convertible Senior Notes are the Company’s unsecured, unsubordinated obligations and are equal in right of payment with the Company’s existing and future unsecured, unsubordinated indebtedness; senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated in right of payment to the Convertible Senior Notes; effectively subordinated to the Company’s existing and future secured indebtedness, to the extent of the value of the collateral securing that indebtedness; and structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and preferred equity, if any, of the Company’s subsidiaries.
Conversion Terms
Upon issuance of the Convertible Senior Notes in April 2020, the initial conversion rate was 28.2618 shares of the Company’s common stock per $1,000 principal amount of Convertible Senior Notes, which represented an initial conversion price of approximately $35.38 per share. The conversion rate is subject to customary adjustments upon the occurrence of certain events, such as the payment of dividends. In addition, upon the occurrence of a fundamental change prior to the maturity of the Convertible Senior Notes, the Company will, in certain circumstances, increase the conversion rate by a specified number of additional shares for a holder that elects to convert the Convertible Senior Notes in connection with such a fundamental change.
As of January 30, 2021, the conversion rate for the Convertible Senior Notes was 28.8028, which represents a conversion price of $34.72 per share. The difference between the initial conversion rate and the conversion rate as of January 30, 2021 is due to dividends that have been declared and paid on shares of the Company’s common stock following the issuance of the Convertible Senior Notes. Because the closing price of the Company’s common stock of $67.01 at the end of fiscal 2020 exceeded the conversion price of $34.72, the if-converted value exceeded the principal amount of the Convertible Senior Notes by approximately $534.8 million at January 30, 2021. As described below, the Company entered into convertible note hedge transactions, which are expected to reduce the potential dilution with respect to the Company’s common stock upon conversion of the Convertible Senior Notes.
Upon conversion, the Company may settle the Convertible Senior Notes for cash, shares of the Company’s stock, or a combination thereof, at the Company’s option. The Company also has the ability to irrevocably elect to settle the Convertible Senior Notes in cash without amending the indentures or the Notes themselves. The Company currently intends to settle the principal amount of the Convertible Senior Notes in cash and any conversion premium in shares of its common stock.
Convertible debt instruments that may be settled in cash are required to be separated into liability and equity components. The allocation to the liability component is based on the fair value of a similar instrument that does not contain an equity conversion option. Based on this debt to equity ratio, debt issuance costs are then allocated to the liability and equity components in a similar manner. Accordingly, at issuance the Company allocated $396.9 million to the debt liability and $160.7 million to additional paid in capital.
Financial Statement Impacts
The difference between the principal amount of the Convertible Senior Notes and the liability component, inclusive of issuance costs, represents the debt discount, which the Company will amortize to interest expense over the term of the Convertible Senior Notes using an effective interest rate of 11.6%. During fiscal 2020, the Company recognized $36.4 million of total interest expense related to the Convertible Senior Notes, of which $21.6 million was attributed to non-cash amortization of the debt discount.
A summary of the composition of the net carrying values of the liability and equity components of the Convertible Senior Notes is as follows:
(in millions)January 30, 2021
Principal$575.0 
Debt discount$(156.5)
Carrying amount$418.5 
Equity component (*)
$160.7 
(*) Included in additional paid-in capital on the Consolidated Balance Sheets.
Early Conversion
Prior to the close of business on the business day immediately preceding December 2, 2024, noteholders may convert their Convertible Senior Notes into shares of the Company’s common stock at their option only in the following circumstances:
•during any calendar quarter, if the last reported sale price per share of the Company’s common stock for each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter, exceeds 130% of the conversion price then in effect on each applicable trading day;
•during the five consecutive business days immediately after any five consecutive trading day period (such five consecutive trading day period, the “Measurement Period”) if the trading price per $1,000 principal amount of Convertible Senior Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price per share of the Company’s common stock on such trading day and the conversion rate on such trading day;
•upon the occurrence of certain corporate events or distributions on the Company’s common stock, including but not limited to a fundamental change; or
•if the Company calls all or any Convertible Senior Notes for redemption.
At January 30, 2021, the stock price conditions under which the Convertible Senior Notes could be convertible at the holders’ option were met. However, the Company has not received any conversion requests through the filing date of this Form 10-K.
On or after December 2, 2024, until the close of business on the second scheduled trading day immediately before the maturity date of the Convertible Senior Notes, noteholders may convert their Convertible Senior Notes at their option at any time, regardless of the foregoing conditions.
The Company may redeem the Convertible Senior Notes at its option at any time on or after April 17, 2023 at a cash redemption price equal to the principal amount of the Convertible Senior Notes to be redeemed, plus accrued and unpaid interest, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice and (ii) the trading day immediately before the date the Company sends such notice. In addition, calling any Convertible Senior Note for redemption will constitute a Make-Whole Fundamental Change with respect to that Convertible Senior Note, in which case the conversion rate applicable to the conversion of that Convertible Senior Note will be increased in certain circumstances if it is converted after it is called for redemption.
Upon the occurrence of a fundamental change prior to the maturity date of the Convertible Senior Notes, holders of the Convertible Senior Notes may require the Company to repurchase all or a portion of the Convertible Senior Notes for cash at a price equal to 100% of the principal amount of the Convertible Senior Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.
Convertible Note Hedge and Warrant Transactions
In connection with the sale of the Convertible Senior Notes, the Company purchased a bond hedge designed to mitigate the potential dilution to shareholders from the conversion of the Convertible Senior Notes. Under the five-year term of the bond hedge, upon a conversion of the bonds the Company will receive shares of common stock equal to the shares issued under the conversion feature of the Convertible Senior Notes. The aggregate number of shares that the Company could be obligated to issue upon conversion of the Convertible Senior Notes, and that the Company would receive under the bond hedge, is equal to the number of shares underlying the Convertible Senior Notes, or approximately 16.6 million shares.
The cost of the bond hedge was partially offset by the Company’s sale of warrants to acquire approximately 16.6 million shares of the Company’s common stock. The warrants were initially exercisable at a price of at least $52.42 per share and are subject to customary adjustments upon the occurrence of certain events, such as the payment of dividends. As of January 30, 2021, the warrants were exercisable at a price of at least $51.44 per share. The difference between the initial and current exercise price is due to dividends that have been declared and paid on shares of the Company’s common stock following the issuance of the warrants.
The bond hedge and warrant transactions effectively increased the conversion price associated with the Convertible Senior Notes during the term of these transactions from 35% to 100% at their issuance, thereby reducing the dilutive economic effect to shareholders upon actual conversion. There would be dilution from the conversion of the Convertible Senior Notes to the extent that the then-market price per share of the common stock exceeds the exercise price of the warrants at the time of conversion.
The bond hedges and warrants are indexed to, and potentially settled in shares of, the Company’s common stock. The net cost of $55.8 million for the purchase of the bond hedges and sale of the warrants was recorded as a reduction to additional paid-in capital in the Consolidated Balance Sheets.
v3.21.1
Fair Value Measurements
 12 Months Ended
Jan. 30, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
ASC 820, “Fair Value Measurement and Disclosures”, outlines a valuation framework and creates a fair value hierarchy for assets and liabilities as follows:
Level 1:  Observable inputs such as quoted prices in active markets;
Level 2:  Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and
Level 3:  Unobservable inputs in which there is little or no market data, which require the reporting entity to develop
its own assumptions.
Recurring
The Company measures its deferred compensation plan assets held in trust at fair value on a recurring basis using Level 1 inputs. Such assets consist of investments in various mutual funds made by eligible individuals as part of the Company’s deferred compensation plans, as discussed in Note 14–Retirement Savings Plans. As of January 30, 2021 and February 1, 2020, the fair value of the Company’s deferred compensation plans was $125.7 million and $99.7 million, respectively, as determined by quoted prices in active markets.
The Company bases the fair value of its Convertible Senior Notes on Level 2 inputs, specifically their quoted price in an inactive market on the last trading day in a reporting period. On January 30, 2021, the fair value of the Convertible Senior Notes was approximately $1.2 billion, compared to their carrying value of $418.5 million. The carrying value excluded amounts classified within additional paid-in capital and any unamortized discounts. See Note 9–Convertible Senior Notes for additional information.
Due to the short-term nature of these instruments, the fair value of cash and cash equivalents, accounts receivable, accounts payable, borrowings under the Credit Facility and certain other liabilities approximated their carrying values at both January 30, 2021 and February 1, 2020.
Nonrecurring
Assets and liabilities recognized or disclosed at fair value on a nonrecurring basis may include property and equipment, goodwill and other intangible assets, equity and other assets. These assets are required to be assessed for impairment when events or circumstances indicate that the carrying value may not be recoverable, and at least annually for goodwill and indefinite-lived intangible assets. In the event that an impairment is required, the asset is adjusted to fair value, using Level 3 inputs.
In connection with the planned removal of hunt category merchandise from the majority of DICK’S Sporting Goods stores, the Company incurred restructuring charges of $57.7 million in fiscal 2019, which included a $28.3 million non-cash impairment charge to reduce the carrying value of a trademark associated with its hunt business to its estimated fair value, a $7.4 million non-cash impairment of store assets, a $13.1 million write-down of hunt inventory and an $8.9 million charge related to its exit from eight Field & Stream stores, which were subleased to Sportsman’s Warehouse, Inc. With the exception of the write-down of hunt inventory, which was included within cost of goods sold, the restructuring charges were included within selling, general and administrative expenses on the Consolidated Statements of Income.
v3.21.1
Stockholders' Equity
 12 Months Ended
Jan. 30, 2021
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
Common Stock, Class B Common Stock and Preferred Stock 
The Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of 200,000,000 shares of common stock, par value $0.01 per share, and the issuance of 40,000,000 shares of Class B common stock, par value $0.01 per share. In addition, the Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of up to 5,000,000 shares of preferred stock.
Holders of common stock generally have rights identical to holders of Class B common stock, except that holders of common stock are entitled to one vote per share and holders of Class B common stock are entitled to ten votes per share. A related party, relatives of the related party and their trusts hold all outstanding Class B common stock, which can only be held by members of this group. Class B common shares are not publicly tradable. Each share of Class B common stock can be converted at any time into one share of common stock at the holder’s option.
Dividends per Common Share 
The Company declared and paid aggregate cash dividends of $1.25, $1.10 and $0.90 per share of common stock and Class B common stock during fiscal 2020, 2019 and 2018, respectively.
Treasury Stock 
The Company’s Board of Directors authorized a five-year $1.0 billion share repurchase program on March 16, 2016, under which it repurchased shares as follows for the fiscal years presented (in thousands):
 
Fiscal Year
 
202020192018
Shares of common stock repurchased —11,0529,572
Cash paid for treasury stock$— $402,240 $323,352 
As of January 30, 2021, the Company had $31.2 million remaining under the program authorized in 2016. On June 12, 2019, the Company’s Board of Directors authorized an additional five-year share repurchase program of up to $1.0 billion of its common stock, under which the Company has yet to repurchase any shares through January 30, 2021.
v3.21.1
Income Taxes
 12 Months Ended
Jan. 30, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Provision for Income Taxes
The components of the provision for income taxes are as follows for the fiscal years presented (in thousands):
202020192018
Current:
  
Federal
$185,197 $87,263 $94,729 
State
42,537 24,139 22,585 
Total current provision227,734 111,402 117,314 
Deferred:
  
Federal
(37,376)(606)(3,943)
State
(8,874)(554)(1,315)
Total deferred provision(46,250)(1,160)(5,258)
Total provision
$181,484 $110,242 $112,056 

The Company’s effective income tax rate differs from the federal statutory rate as follows for the fiscal years presented:

202020192018
Federal statutory rate
21.0 %21.0 %21.0 %
State tax, net of federal benefit
3.8 %4.6 %3.8 %
Other permanent items
0.7 %1.4 %1.1 %
Effective income tax rate
25.5 %27.0 %25.9 %
Components of deferred tax assets (liabilities) consist of the following as of the end of the fiscal years presented (in thousands):
20202019
Operating lease liabilities$718,349 $756,660 
Inventory
29,744 43,499 
Employee benefits and withholdings56,245 38,554 
Stock-based compensation
18,123 19,494 
Gift cards
16,474 14,044 
Deferred revenue currently taxable
1,948 2,450 
Other accrued expenses not currently deductible for tax purposes12,304 6,343 
Net operating loss carryforward
527 1,207 
Non income-based tax reserves4,107 3,675 
Capital loss carryforward
920 922 
Uncertain income tax positions497 905 
Insurance
2,486 2,175 
Convertible senior notes1,382 — 
Other
832 1,043 
Total deferred tax assets
863,938 890,971 
Operating lease assets(553,997)(597,553)
Property and equipment
(217,204)(232,832)
Inventory valuation
(26,298)(40,049)
Intangibles
(7,880)(7,518)
Prepaid expenses
(4,338)(3,928)
Other
(2,746)(3,866)
Total deferred tax liabilities
(812,463)(885,746)
Net deferred tax asset
$51,475 $5,225 
The deferred tax asset from net operating loss carryforwards of $0.5 million represents state net operating losses, which expire in 2034. In 2020, the $51.5 million net deferred tax asset is included within long-term assets on the Consolidated Balance Sheet. In 2019, of the $5.2 million net deferred tax asset, approximately $14.4 million was included within other long-term assets and approximately $9.2 million was included within long-term liabilities.
Under the Tax Cuts and Jobs Act of 2017 (the “Tax Act”), a one-time transition tax resulted in the elimination of the excess of the amount of financial reporting basis over the tax basis in the foreign subsidiaries and subjected $66.6 million of undistributed foreign earnings to tax. The tax owed on the Company’s deemed repatriation of $4.2 million is payable in uneven annual installments through 2025. No additional income taxes have been provided for any remaining undistributed foreign earnings or foreign withholdings and US state taxes not subject to the one-time transition tax, as the Company intends to permanently reinvest the earnings from foreign subsidiaries outside the United States.
Unrecognized Tax Benefits
The following table provides a reconciliation of the Company’s total balance of unrecognized tax benefits, excluding interest and penalties (in thousands):
202020192018
Beginning of fiscal year
$2,786 $4,318 $8,047 
Increases as a result of tax positions taken in a prior period
35 422 456 
Decreases as a result of tax positions taken in a prior period
— (1,532)(411)
Decreases as a result of settlements during the current period
(1,380)(422)(2,977)
Reductions as a result of a lapse of statute of limitations during the current period
(383)— (797)
End of fiscal year
$1,058 $2,786 $4,318 
The balance at January 30, 2021 includes $0.8 million of unrecognized tax benefits that would impact our effective tax rate if recognized. The Company recognizes accrued interest and penalties from unrecognized tax benefits in income tax expense.
As of January 30, 2021, the Company’s total liability for uncertain tax positions, including $1.3 million for interest and penalties, was approximately $2.4 million. During fiscal 2020, 2019 and 2018, the Company recorded $0.1 million, $0.3 million and $0.3 million, respectively, for the accrual of interest and penalties in the Consolidated Statements of Income. The Company does not anticipate that changes in its unrecognized tax benefits will have a material impact on the Consolidated Statements of Income during fiscal 2021.
Audits
The Company participates in the Internal Revenue Service (“IRS”) Compliance Assurance Program (“CAP”). As part of CAP, tax years are audited on a contemporaneous basis so that all or most issues are resolved prior to the filing of the tax return. The IRS has completed examinations of 2018 and all prior tax years. The Company is no longer subject to examination in any of its major state jurisdictions for years prior to 2015.
v3.21.1
Stock-Based Compensation
 12 Months Ended
Jan. 30, 2021
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The Company has the ability to grant restricted shares of common stock, restricted stock units and options to purchase common stock under the 2012 Plan. As of January 30, 2021, there were 848,800 shares of common stock available for the future issuance of awards pursuant to the 2012 Plan. The following table provides total stock-based compensation recognized in the Consolidated Statements of Income for the fiscal years presented (in thousands):
202020192018
Stock option expense
$6,186 $6,286 $7,147 
Restricted stock expense
43,991 37,207 34,794 
Total stock-based compensation expense
$50,177 $43,493 $41,941 
Total related tax benefit
$10,443 $9,620 $9,104 
Stock Options
Stock options are generally granted on an annual basis, vest 25% per year over four years and have a seven-year contractual life. When options are exercised, the Company issues new shares of common stock.
The fair value of stock options is estimated on their grant date using the Black-Scholes option valuation model. The assumptions used to calculate their fair value are evaluated and revised, as necessary, to reflect market conditions and the Company’s experience. Stock options are expensed on a straight-line basis over the vesting period, which is considered to be the requisite service period. Compensation expense is recognized only for those options expected to vest, with forfeitures estimated at the date of grant based on the Company’s historical experience and future expectations.
The following assumptions were used in the Black-Scholes option valuation model for awards granted in the fiscal years presented:
 
Employee Stock Option Plans
Black-Scholes Valuation Assumptions
202020192018
Expected term (years) (1)
5.565.395.20
Expected volatility (2)
38.16% - 47.90%
35.15% - 38.40%
33.15% - 37.41%
Weighted average volatility
41.31 %35.75 %34.61 %
Risk-free interest rate (3)
0.21% - 1.32%
1.39% - 2.43%
2.55% - 3.04%
Expected dividend yield
2.08% - 6.58%
2.31% - 3.25%
2.40% - 2.82%
Weighted average grant date fair value
$3.70 $10.59 $9.02 

(1)Represents the estimated period of time until exercise and is based on historical experience of similar awards giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior.
(2)Based on the historical volatility of the Company’s common stock over a time frame consistent with the expected life of the stock options.
(3)Based on the implied yield available on U.S. Treasury constant maturity interest rates whose term is consistent with the expected life of the stock options.
Stock option activity for the last three fiscal years is presented in the following table:
Shares Subject to OptionsWeighted Average Exercise Price per ShareWeighted Average Remaining Contractual Life (Years)Aggregate Intrinsic Value (in thousands)
Outstanding, February 3, 20183,129,949 $48.97 4.08$389 
Granted881,334 34.18 
Forfeited / Expired(880,856)45.96 
Outstanding, February 2, 20193,130,427 $45.65 4.07$1,783 
Granted605,574 38.58 
Exercised(144,275)38.59 
Forfeited / Expired(528,352)43.97 
Outstanding, February 1, 20203,063,374 $44.87 3.88$10,254 
Granted2,462,854 17.80 
Exercised(781,386)48.15 
Forfeited / Expired(391,946)41.40 
Outstanding, January 30, 20214,352,896 $29.28 4.96$164,231 
Exercisable, January 30, 20211,151,449 $47.13 2.70$22,888 
Vested and expected to vest, January 30, 20213,991,508 $29.92 4.87$148,047 
The aggregate intrinsic value reported in the table above is based on the closing prices of the Company’s common shares as of the last business day of the period indicated. The intrinsic value for stock options exercised during fiscal 2020 and fiscal 2019 totaled $8.3 million and $1.0 million, respectively. No stock options were exercised in fiscal 2018.
Nonvested stock option activity for the year ended January 30, 2021 is presented in the following table:
Shares Subject to OptionsWeighted Average Grant Date Fair Value
Nonvested, February 1, 20201,432,571 $10.66 
Granted2,462,854 3.70 
Vested(546,873)11.16 
Forfeited(147,105)7.43 
Nonvested, January 30, 20213,201,447 $5.37 
The fair value of options that vested during 2020, 2019 and 2018 totaled $6.1 million, $7.0 million and $8.1 million, respectively.
As of January 30, 2021, unrecognized stock-based compensation expense from nonvested stock options was approximately $10.4 million, net of estimated forfeitures, which is expected to be recognized over a weighted average period of approximately 2.8 years.
Additional information regarding stock options outstanding as of January 30, 2021 is as follows:
Options OutstandingOptions Exercisable
Range of
Exercise Prices		SharesWeighted Average Remaining Contractual Life (Years)Weighted Average Exercise PriceSharesWeighted Average Exercise Price
$16.81 - $24.48
2,297,002 6.14$16.84 — $— 
$27.21 - $35.60
557,921 4.4133.14 197,168 33.38 
$36.47 - $43.91
502,038 5.2538.63 100,628 38.78 
$44.37 - $51.72
689,166 2.7447.98 570,732 47.91 
$52.01 - $60.17
306,769 1.6258.09 282,921 58.11 
$16.81 - $60.17
4,352,896 4.96$29.28 1,151,449 $47.13 
Restricted Stock 
The Company issues shares of restricted stock to eligible employees, which are subject to forfeiture until the end of an applicable vesting period. The awards generally vest on the third anniversary of the date of grant, subject to the employee’s continuing employment as of that date.
Restricted stock activity for the last three fiscal years is presented in the following table:
SharesWeighted Average Grant Date Fair Value
Nonvested, February 3, 20183,604,237 $44.84 
Granted1,616,600 33.96 
Vested(549,293)49.88 
Forfeited(1,213,927)45.05 
Nonvested, February 2, 20193,457,617 $38.88 
Granted1,578,677 37.37 
Vested(852,549)38.96 
Forfeited(796,795)39.84 
Nonvested, February 1, 20203,386,950 $37.94 
Granted2,744,671 18.29 
Vested(803,743)46.17 
Forfeited(434,146)26.96 
Nonvested, January 30, 20214,893,732 $26.54 

From time-to-time, the Company may issue a special grant of performance-based restricted stock in support of strategic initiatives. The Company issued such special grants totaling 782,931 shares of restricted stock throughout fiscal 2019 and fiscal 2020 under the 2019 Long-Term Incentive Plan. As of January 30, 2021, nonvested restricted stock included 656,526 shares outstanding under the 2019 Long-Term Incentive Plan, which are scheduled to vest in April 2022, subject to the employees’ continued employment through that date.
As of January 30, 2021, total unrecognized stock-based compensation expense, net of estimated forfeitures, from nonvested shares of restricted stock was approximately $47.9 million, which the Company expects to recognize over a weighted average period of approximately 1.5 years.
v3.21.1
Retirement Savings Plans
 12 Months Ended
Jan. 30, 2021
Retirement Benefits [Abstract]  
Retirement Savings Plans Retirement Savings PlansThe Company’s retirement savings plan, established pursuant to Section 401(k) of the Internal Revenue Code, covers regular status full-time hourly and salaried employees and part-time employees after one month of employment with the Company. Employees must be 21 years of age to participate. Under the terms of the retirement savings plan, the Company may make a discretionary matching contribution equal to a percentage of each participant’s contribution, up to 10% of the participant’s compensation. The Company’s discretionary matching contribution percentage is typically 50%; however, for the year ended January 30, 2021 the discretionary matching contribution was 75%. Total employer contributions recorded under the plan, net of forfeitures, was $17.1 million, $10.0 million and $9.8 million in fiscal 2020, 2019 and 2018, respectively. The Company also has non-qualified deferred compensation plans for highly compensated employees whose contributions are limited under qualified defined contribution plans. Amounts contributed and deferred under the deferred compensation plans are credited or charged with the performance of investment options offered under the plans and elected by the participants. In the event of bankruptcy, the assets of these plans are available to satisfy the claims of general creditors. The liability for compensation deferred under the Company’s plans was $125.7 million and $99.7 million as of January 30, 2021 and February 1, 2020, respectively, and is included within long-term liabilities on the Consolidated Balance Sheets. Total employer contributions recorded under these plans, net of forfeitures, was $5.8 million, $3.2 million and $2.1 million in fiscal 2020, 2019 and 2018, respectively.
v3.21.1
Commitments and Contingencies
 12 Months Ended
Jan. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Marketing and Naming Rights Commitments
Within the ordinary course of business, the Company enters into contractual commitments in order to promote the Company’s brand and products, including media and naming rights extending through 2026. The aggregate payments under these commitments were $13.5 million, $15.5 million and $18.0 million during fiscal 2020, 2019 and 2018, respectively.
As of January 30, 2021, the aggregate amount of future minimum payments related to these commitments is as follows (in thousands):
Fiscal Year
 
2021$14,018 
20224,054 
20232,888 
20242,975 
20253,064 
Thereafter
3,156 
Total
$30,155 
Licenses for Trademarks
Within the ordinary course of business, the Company enters into licensing agreements for the exclusive or preferential rights to use certain trademarks extending through 2022. Under specific agreements, the Company is obligated to pay annual guaranteed minimum royalties. Also, the Company is required to pay additional royalties when the royalties that are based on qualified purchases or retail sales (dependent upon the agreement) exceed the guaranteed minimum. The aggregate payments under these commitments were $6.0 million, $11.1 million and $12.1 million during fiscal 2020, 2019 and 2018, respectively.
As of January 30, 2021, the aggregate amount of future minimum payments under these commitments is as follows (in thousands):
Fiscal Year
 
2021$2,208 
20221,250 
Total
$3,458 
Other
The Company has other non-cancellable contractual commitments, including minimum requirements with its third-party eCommerce fulfillment provider, and technology-related commitments extending through 2025. The aggregate payments under these commitments were $49.0 million, $46.9 million and $48.5 million during fiscal 2020, 2019 and 2018, respectively.
As of January 30, 2021, the aggregate amount of future minimum payments under these commitments is as follows (in thousands):
Fiscal Year
 
2021$44,418 
202236,035 
20234,014 
20241,368 
20251,368 
Total
$87,203 
The Company is involved in legal proceedings incidental to the normal conduct of its business. Although the outcome of any pending legal proceedings cannot be predicted with certainty, management believes that adequate insurance coverage is maintained and that the ultimate resolution of these matters will not have a material adverse effect on the Company’s liquidity, financial position or results of operations.
v3.21.1
Subsequent Events
 12 Months Ended
Jan. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventOn March 5, 2021, the Company’s Board of Directors declared a quarterly cash dividend in the amount of $0.3625 per share on the Company’s common stock and Class B common stock payable on March 26, 2021 to stockholders of record as of the close of business on March 19, 2021.
v3.21.1
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Jan. 30, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS
DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS
(in thousands)

Balance at Beginning of PeriodCharged to Costs and ExpensesDeductionsBalance at End of Period
Fiscal 2018     
Inventory reserve$49,801 $8,281  $(14,042)$44,040 
Allowance for credit losses3,488 4,721  (5,246)2,963 
Reserve for sales returns10,411 476,692 (476,528)10,575 
Fiscal 2019     
Inventory reserve$44,040 $27,152  $(13,367)$57,825 
Allowance for credit losses2,963 4,413  (4,416)2,960 
Reserve for sales returns10,575 499,597 (497,050)13,122 
Fiscal 2020     
Inventory reserve$57,825 $32,047  $(54,317)$35,555 
Allowance for credit losses2,960 4,313 
 
(4,612)2,661 
Reserve for sales returns13,122 508,622 (507,276)14,468 
v3.21.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Fiscal Year
Fiscal Year
The Company’s fiscal year ends on the Saturday closest to the end of January. Unless otherwise stated, references to years in this report relate to fiscal years, rather than to calendar years. Fiscal years 2020, 2019 and 2018 ended on January 30, 2021, February 1, 2020 and February 2, 2019, respectively. All fiscal years presented include 52 weeks of operations.
Principles of Consolidation
Principles of Consolidation
The Consolidated Financial Statements include DICK’S Sporting Goods, Inc. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Reclassifications
Reclassifications
Certain reclassifications have been made to prior year amounts within the consolidated financial statements and related footnotes to conform to the current year presentation, including reclassification of non-cash lease costs from depreciation, amortization and other as a separate line within the Consolidated Statements of Cash Flows.
Use of Estimates in the Preparation of Financial Statements
Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents / Cash Management
Cash and Cash Equivalents
Cash and cash equivalents consist of cash on hand and all highly liquid instruments purchased with a maturity of three months or less at the date of purchase. Cash and cash equivalents are stated at fair value.
Cash Management
The Company’s cash management system provides for the reimbursement of all major bank disbursement accounts on a daily basis. Accounts payable at January 30, 2021 and February 1, 2020 include $111.2 million and $54.0 million, respectively, of checks drawn in excess of cash balances not yet presented for payment.
Accounts Receivable Accounts Receivable Accounts receivable primarily consist of amounts due from vendors and landlords. The Company’s allowance for credit losses totaled $2.7 million and $3.0 million at January 30, 2021 and February 1, 2020, respectively.
Inventories
Inventories
Inventories are stated at the lower of weighted average cost and net realizable value. Inventory costs consist of the direct cost of merchandise including freight. Inventories are net of shrinkage, obsolescence, other valuation accounts and vendor allowances totaling $101.3 million and $131.7 million at January 30, 2021 and February 1, 2020, respectively.
Property and Equipment
Property and Equipment
Property and equipment are recorded at cost and include finance leases. Renewals and betterments are capitalized. Repairs and maintenance are expensed as incurred.
Depreciation is computed using the straight-line method over the following estimated useful lives:
Buildings
40 years
Leasehold improvements
10-25 years
Furniture, fixtures and equipment
3-7 years
Computer software
3-10 years

For leasehold improvements and property and equipment under finance lease agreements, depreciation is calculated using the straight-line method over the shorter of the estimated useful lives of the assets or the lease term. Leasehold improvements made after lease commencement are depreciated over the shorter of their estimated useful lives or the remaining lease term, including renewal periods, if reasonably assured. The Company recognized depreciation expense of $317.5 million, $307.2 million and $285.8 million, in fiscal 2020, 2019 and 2018, respectively.
Impairment of Long-Lived Assets Impairment of Long-Lived Assets The Company evaluates its long-lived assets and assesses whether the carrying values have been impaired whenever events and circumstances indicate that the carrying value of these assets may not be recoverable based on estimated undiscounted future cash flows. An impairment loss is recognized when the estimated undiscounted cash flows expected to result from the use of the asset plus eventual net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value as determined based on quoted market prices or through the use of other valuation techniques. The related impairment expense is recorded within selling, general and administrative expenses on the Consolidated Statements of Income.
Goodwill
Goodwill
Goodwill represents the excess of acquisition cost over the fair value of the net assets of acquired entities. The Company assesses the carrying value of goodwill annually or whenever circumstances indicate that a decline in value may have occurred.
The Company’s goodwill impairment test compares the fair value of each reporting unit to its carrying value. The Company determines the fair value of its reporting units using a combination of the income approach, by using a discounted cash flow model, and a market value approach. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that reporting unit, goodwill is not impaired. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, an impairment charge to selling, general and administrative expenses is recorded to reduce the carrying value to the fair value. A reporting unit is the operating segment, or a business unit one level below that operating segment, for which discrete financial information is prepared and regularly reviewed by management.
Intangible Assets
Intangible Assets
Intangible assets consist of both indefinite-lived and finite-lived assets. A majority of the Company’s intangible assets are indefinite-lived, consisting primarily of trademarks and acquired trade names, which the Company tests annually for impairment, or whenever circumstances indicate that a decline in value may have occurred, using Level 3 inputs. The Company estimates the fair value of these intangible assets based on an income approach using the relief-from-royalty method.
The Company’s finite-lived intangible assets consist primarily of customer lists and other acquisition-related assets. Finite-lived intangible assets are amortized over their estimated useful economic lives and are reviewed for impairment when factors indicate that an impairment may have occurred. The Company recognizes an impairment charge when the estimated fair value of the intangible asset is less than its carrying value.
Self-Insurance
Self-Insurance
The Company is self-insured for certain losses related to health, workers' compensation and general liability insurance, although we maintain stop-loss coverage with third-party insurers to limit our liability exposure. Liabilities associated with these losses are estimated in part by considering historical claims experience, industry factors, severity factors and other actuarial assumptions.
Pre-opening Expenses
Pre-opening Expenses
Pre-opening expenses, which consist primarily of rent, marketing, payroll and recruiting costs, are expensed as incurred. Rent is recognized within pre-opening expense from the date the Company takes possession of a site through the date of store opening.
Earnings Per Common Share
Earnings Per Common Share
Basic earnings per common share is computed based on the weighted average number of shares of common stock outstanding for a given period.
Diluted earnings per common share is computed based on the weighted average number of shares of common stock outstanding for a period, plus the effect of dilutive potential common shares outstanding using the treasury stock method. Dilutive potential common shares include shares the Company could be obligated to issue from its Convertible Senior Notes and warrants (see Note 9-Convertible Senior Notes for further discussion) and stock-based awards, such as stock options and restricted stock.
Stock-Based Compensation
Stock-Based Compensation
The Company has the ability to grant teammates a number of different stock-based awards, including restricted shares of common stock, restricted stock units and stock options to purchase common stock, under the DICK’S Sporting Goods, Inc. 2012 Stock and Incentive Plan, as Amended and Restated (the “2012 Plan”). The Company records stock-based compensation expense based on the fair value of stock awards at the grant date and recognizes the expense over the employees’ service periods.
Income Taxes
Income Taxes
The Company utilizes the asset and liability method of accounting for income taxes and provides deferred income taxes for temporary differences between the amounts reported for assets and liabilities for financial statement purposes and for income tax reporting purposes, using enacted tax rates in effect in the years in which the differences are expected to reverse. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that will more likely than not be realized upon ultimate settlement. Interest and penalties from income tax matters are recognized in income tax expense.
Revenue Recognition
Revenue Recognition
Sales Transactions
Revenue is recognized upon satisfaction of all contractual performance obligations and transfer of control to the customer and is measured as the amount of consideration to which the Company expects to be entitled to in exchange for corresponding goods or services. Substantially all of the Company’s sales are single performance obligation arrangements for retail sale transactions for which the transaction price is equivalent to the stated price of the product or service, net of any stated discounts applicable at a point in time. Each sales transaction results in an implicit contract with the customer to deliver a product or service at the point of sale. Revenue from retail sales is recognized at the point of sale. Sales tax amounts collected from customers that are assessed by a governmental authority are excluded from revenue.
Revenue from eCommerce sales, including vendor-direct sales arrangements, is recognized upon shipment of merchandise. Shipping and handling activities occurring subsequent to the transfer of control to the customer are accounted for as fulfillment costs rather than as a promised service. A provision for anticipated merchandise returns is provided through a reduction of sales and cost of goods sold in the period that the related sales are recorded.
Deferred Revenue
Revenue from gift cards and returned merchandise credits (collectively the “cards”) is deferred and recognized upon their redemption. Income from unredeemed cards is recognized on the Consolidated Statements of Income within net sales in proportion to the pattern of rights exercised by the customer in future periods. The Company performs an evaluation of historical redemption patterns from the date of original issuance to estimate future period redemption activity. During the fiscal years ended January 30, 2021 and February 1, 2020, the Company recognized $18.3 million and $17.4 million of gift card breakage revenue, respectively, and experienced approximately $74.7 million and $82.0 million of gift card redemptions in fiscal 2020 and fiscal 2019, respectively, that had been included in its gift card liability as of February 1, 2020 and February 2, 2019, respectively. Based on the Company’s historical experience, the majority of gift card revenue is recognized within 12 months of deferral. The cards have no expiration date.
Loyalty program points are accrued at the estimated retail value per point, net of estimated breakage. The Company estimates the breakage of loyalty points based on historical redemption rates experienced within the loyalty program. Based on the Company’s customer loyalty program policies, the majority of program points earned are redeemed or expire within 12 months. See Note 6–Deferred Revenue and Other Liabilities for additional information regarding the amount of these liabilities at January 30, 2021 and February 1, 2020.
Net sales by category
The following table disaggregates the amount of net sales attributable to hardlines, apparel and footwear for the periods presented (in millions):
 
Fiscal Year
202020192018
Hardlines (1)
$4,428.5 $3,695.2 $3,632.1 
Apparel
3,180.2 3,109.0 2,962.4 
Footwear
1,834.3 1,811.4 1,719.5 
Other (2)
141.0 135.1 122.6 
Total net sales$9,584.0 $8,750.7 $8,436.6 
(1)Includes items such as sporting goods equipment, fitness equipment, golf equipment and hunting and fishing gear.
(2)Includes the Company’s non-merchandise sales categories, including in-store services, shipping revenues, software subscription revenues and credit card processing revenues.
Cost of Goods Sold
Cost of Goods Sold
Cost of goods sold includes: the cost of merchandise (inclusive of vendor allowances, inventory shrinkage and inventory write-downs for the lower of cost or net realizable value); freight; distribution; shipping; and store occupancy costs. The Company defines merchandise margin as net sales less the cost of merchandise sold. Store occupancy costs include rent, common area maintenance charges, real estate and other asset-based taxes, general maintenance, utilities, depreciation and certain insurance expenses.
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses
Selling, general and administrative expenses include store and field support payroll and fringe benefits, advertising, bank card charges, operating costs associated with the Company’s internal eCommerce platform, information systems, marketing, legal, accounting, other store expenses and all expenses associated with operating the Company’s Customer Support Center (“CSC”).
Advertising Costs
Advertising Costs
Production costs for all forms of advertising and the costs to run the advertisements are expensed the first time the advertisement takes place. Advertising expense, net of cooperative advertising, was $293.4 million, $338.7 million and $322.2 million for fiscal 2020, 2019 and 2018, respectively.
Business Development Allowances
Business Development Allowances
Business development allowances include allowances, rebates and cooperative advertising funds received from vendors. These funds are determined for each fiscal year and the majority are based on various quantitative contract terms. Amounts expected to be received from vendors for the purchase of merchandise inventories (“vendor allowances”) are recognized as a reduction of cost of goods sold as the merchandise is sold. Amounts that represent a reimbursement of costs incurred, such as advertising (“cooperative advertising”), are recorded as a reduction to the related expense in the period that the related expense is incurred. The Company records an estimate of earned allowances based on the latest projected purchase volumes and advertising forecasts.
Segment Information
Segment Information
The Company is a specialty omni-channel retailer that offers a broad range of products in its specialty retail stores, which are primarily located in the eastern United States. Given the economic characteristics of the store formats, the similar nature of the products sold, the type of customer and method of distribution, the Company’s operating segments are aggregated within one reportable segment. Refer to Revenue Recognition within this Note for additional disclosure of net sales by merchandise category.
Construction Allowances
Construction Allowances
All of the Company’s store locations are leased. The Company may receive reimbursement from a landlord for some of the cost of the structure, subject to satisfactory fulfillment of applicable lease provisions. These reimbursements may be referred to as tenant allowances, construction allowances or landlord reimbursements (“construction allowances”). The Company’s accounting for construction allowances differs depending on whether the Company is deemed to have control of the underlying asset prior to commencement of the lease.
•If the Company is not deemed to have control of the underlying asset prior to lease commencement, reimbursement from a landlord for tenant improvements is classified as a lease incentive and included as a reduction to the related operating lease asset on the Consolidated Balance Sheets. The incentive is amortized as part of operating lease expense on a straight-line basis over the term of the lease. Landlord reimbursements from these transactions are included in cash flows from operating activities as a change in deferred construction allowances.
•If the Company is deemed to have control of the underlying asset prior to lease commencement, a sale and leaseback of the asset occurs when construction of the asset is complete and the lease term begins, if relevant sale-leaseback accounting criteria are met. Any gain or loss from the transaction is included within deferred revenue and other liabilities on the Consolidated Balance Sheets and is deferred and amortized as rent expense on a straight-line basis over the term of the lease. The Company reports the amount of cash received for the construction allowance as construction allowance receipts within the financing activities section of its Consolidated Statements of Cash Flows when such allowances are received prior to completion of the sale-leaseback transaction. The Company reports the amount of cash received from construction allowances as proceeds from sale leaseback transactions within the investing activities section of its Consolidated Statements of Cash Flows when such amounts are received after the sale-leaseback accounting criteria have been achieved.
Leases
Leases
The Company determines whether a contract is or contains a lease at contract inception. Beginning in fiscal 2019, operating lease assets and operating lease liabilities are recognized at the lease’s commencement date based on the present value of remaining fixed lease payments over the lease term. As the rate implicit in the lease is not readily determinable in most of the Company’s leases, the Company uses its incremental borrowing rate based on the information available at a lease’s commencement date to determine the present value of lease payments. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The operating lease asset also includes any fixed lease payments made, net of lease incentives, and incurred initial direct costs.
Operating lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are generally expensed as incurred and may include certain index-based changes in rent and other non-fixed payments for services provided by the lessor. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company’s leases do not contain any material residual guarantees or material restrictive covenants.
In response to the COVID-19 pandemic, the FASB issued interpretive guidance in April 2020 that provided entities the option to elect to account for lease concessions as though the enforceable rights and obligations existed in the original lease. The Company did not elect this option; accordingly, any rent deferrals or concessions that were granted by landlords during fiscal 2020 were treated as lease modifications and not as variable rent reductions. Since lease modification accounting generally requires recognition of changes in rent payments over the lease term, the Company’s fiscal 2020 earnings were not materially impacted by rent deferrals or concessions.
Recently Accounting Pronouncements
Recently Adopted Accounting Pronouncements and Transition
Revenue Recognition
On February 4, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09 (“Topic 606”) using the modified retrospective approach for all contracts not completed as of the adoption date. The primary impact to the Company’s accounting policies of adopting Topic 606 related to the timing of revenue recognition for gift card breakage. Gift card breakage prior to adoption was recognized at the point gift card redemption was deemed remote. As a result of the adoption of Topic 606, the Company recognizes gift card breakage over time in proportion to the pattern of rights exercised by the customer. This change in accounting policy was accounted for through a cumulative effect adjustment to increase beginning retained earnings during the first quarter of fiscal 2018. The Company reclassified $27.7 million from deferred revenue and other liabilities resulting in a cumulative effect adjustment of $20.5 million, net of tax, to retained earnings on the Company’s Consolidated Balance Sheets and Consolidated Statement of Changes in Stockholders’ Equity. Additionally, the adoption of Topic 606 resulted in insignificant financial statement presentation reclassifications related to the Company’s customer loyalty program and sales return reserve.
In addition, the Company elected the practical expedient within Topic 606 related to sales taxes that are assessed by a governmental authority, which allows for the exclusion of sales tax from the transaction price. The Company also elected the practical expedient within Topic 606 related to shipping and handling costs, which allows for shipping and handling activities occurring subsequent to the transfer of control to the customer to be accounted for as fulfillment costs rather than a promised service.
Leases
In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases (Topic 842), which required an entity to recognize lease assets and lease liabilities on the balance sheet and to disclose key information about an entity’s leasing arrangements. ASU 2016-02 was effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Leases (Topic 842), Targeted Improvements, which affected certain aspects of the previously issued guidance. Amendments included an additional transition option that allowed entities to apply the new standard on the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings, as well as a new practical expedient for lessors.
On February 3, 2019, the Company adopted ASU 2016-02 and all related amendments using the optional transition method and elected the package of practical expedients permitted under the transition guidance within the new standard. Such election allowed the Company to not reassess whether any expired or existing contracts are or contain leases, not to reassess the lease classification for any expired or existing leases, and not to reassess initial direct costs for any existing leases. The Company also elected the practical expedient related to land easements. The Company did not elect the practical expedient of hindsight when determining the lease term of existing contracts at the effective date.
The Company has lease agreements with non-lease components that relate to the lease components and elected the practical expedient to account for non-lease components, and the lease components to which they relate, as a single lease component for all classes of underlying assets. The Company also elected to keep short-term leases with an initial term of 12 months or less off the Consolidated Balance Sheet.
Adoption of these standards did not materially affect our consolidated net income or cash flows, but resulted in the recognition of $2.5 billion of lease assets and $3.1 billion of lease liabilities as of February 3, 2019. In connection with the adoption, pre-existing liabilities for deferred rent and various lease incentives were reclassified as a component of the lease assets. Accordingly, the Company recorded an $8.0 million adjustment to opening retained earnings, primarily resulting from the impairment of lease assets recognized at adoption.
Financial Instruments
In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which introduces new guidance for estimating credit losses on certain types of financial instruments based on expected losses and the timing of the recognition of such losses. The Company adopted ASU 2016-13 during the first quarter of fiscal 2020. The adoption did not have a significant impact on the Company’s financial condition, results of operations, cash flows and disclosures.
Intangible Assets
In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted Subtopic 350-40 during the first quarter of fiscal 2020 using a prospective approach; the adoption did not have a significant impact on the Company's financial statements.
Recently Issued Accounting Pronouncements
Income Taxes
In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This update simplifies the accounting for income taxes by removing certain exceptions to the general principles in Accounting Standard Codification (“ASC”) 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for annual and interim reporting periods beginning after December 15, 2020. Early adoption of the amendments is permitted. Depending on the amendment, adoption may be applied on a retrospective, modified retrospective or prospective basis. The Company is currently evaluating the impact of adoption on the Company’s financial condition, results of operations, cash flows and disclosures, which is not expected to be significant.
Reference Rate Reform
In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The update provides optional guidance for a limited period of time to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as the London Interbank Offered Rate (“LIBOR”). The amendments in this ASU can be applied anytime between the first quarter of fiscal 2020 and the fourth quarter of fiscal 2022 and apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The impact of Topic 848 on the Company's financial statements and related disclosures is not expected to be significant.
Convertible Instruments
In August 2020, the FASB issued ASU 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40),” which simplifies the accounting for convertible debt instruments and convertible preferred stock by reducing the number of accounting models and the number of embedded conversion features that could be recognized separately from the primary contract. ASU 2020-06 also enhances transparency and improves disclosures for convertible instruments and earnings per share guidance. It is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those fiscal years, and it permits the use of either the modified retrospective or fully retrospective method of transition. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company is currently evaluating the timing of adoption as well as the impact that the adoption of ASU 2020-06 will have on its financial statements, but it anticipates that adoption will result in a reduction in non-cash interest expense related to the Convertible Senior Notes.
v3.21.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of estimated useful lives
Depreciation is computed using the straight-line method over the following estimated useful lives:
Buildings
40 years
Leasehold improvements
10-25 years
Furniture, fixtures and equipment
3-7 years
Computer software
3-10 years
Schedule of net sales attributable to hardlines, apparel and footwear
The following table disaggregates the amount of net sales attributable to hardlines, apparel and footwear for the periods presented (in millions):
 
Fiscal Year
202020192018
Hardlines (1)
$4,428.5 $3,695.2 $3,632.1 
Apparel
3,180.2 3,109.0 2,962.4 
Footwear
1,834.3 1,811.4 1,719.5 
Other (2)
141.0 135.1 122.6 
Total net sales$9,584.0 $8,750.7 $8,436.6 
(1)Includes items such as sporting goods equipment, fitness equipment, golf equipment and hunting and fishing gear.
(2)Includes the Company’s non-merchandise sales categories, including in-store services, shipping revenues, software subscription revenues and credit card processing revenues.
v3.21.1
Earnings Per Common Share (Tables)
 12 Months Ended
Jan. 30, 2021
Earnings Per Share [Abstract]  
Schedule of the computations for basic and diluted earnings per common share
The computations for basic and diluted earnings per common share were as follows for the periods presented (in thousands, except per share data):
 
Fiscal Year Ended
 
202020192018
Net income$530,251 $297,462 $319,864 
Weighted average common shares outstanding - basic84,258 87,502 97,743 
Dilutive effect of stock-based awards4,185 1,564 1,038 
Dilutive effect of Convertible Senior Notes and warrants4,196 — — 
Weighted average common shares outstanding - diluted92,639 89,066 98,781 
 Earnings per common share - basic$6.29 $3.40 $3.27 
 Earnings per common share - diluted$5.72 $3.34 $3.24 
v3.21.1
Property and Equipment (Tables)
 12 Months Ended
Jan. 30, 2021
Property, Plant and Equipment [Abstract]  
Schedule of the components of property and equipment
Property and equipment are recorded at cost and consist of the following as of the end of the fiscal periods presented below (in thousands):
20202019
Buildings and land
$328,417 $322,618 
Leasehold improvements
1,729,239 1,671,782 
Furniture, fixtures and equipment
1,158,691 1,148,670 
Computer software
460,004 424,584 
Total property and equipment
3,676,351 3,567,654 
Less: accumulated depreciation and amortization
(2,376,086)(2,151,926)
Net property and equipment
$1,300,265 $1,415,728 
v3.21.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Jan. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill activity
The following table summarizes changes in the carrying amount of goodwill, which is reported net of $111.3 million in accumulated impairments in each period, for the fiscal periods presented (in thousands):
20202019
Goodwill, balance at beginning of year
$245,857 $250,476 
Sale of subsidiaries— (4,619)
Goodwill, balance at end of year$245,857 $245,857 
Schedule of components of intangible assets
The components of intangible assets were as follows as of the end of the fiscal years presented (in thousands):
 
20202019
 
Gross AmountAccumulated AmortizationGross AmountAccumulated Amortization
Trademarks (indefinite-lived)
$61,315 $— $60,910 $— 
Trade names (indefinite-lived)
15,660 — 15,660 — 
Customer lists
18,195 (11,604)18,195 (9,176)
Acquired technology and other finite-lived intangible assets
12,016 (10,773)20,634 (17,551)
Other indefinite-lived intangible assets
5,242 — 6,096 — 
Total intangible assets
$112,428 $(22,377)$121,495 $(26,727)
Schedule of annual estimated amortization expense of finite-lived intangible assets
The Company expects to recognize amortization expense on existing finite-lived intangible assets over the next five years as follows (in thousands):
Fiscal Year
Estimated Amortization Expense
2021$3,626 
20222,473 
20231,544 
2024191 
   Total
$7,834 
v3.21.1
Accrued Expenses (Tables)
 12 Months Ended
Jan. 30, 2021
Accrued Liabilities, Current [Abstract]  
Schedule of accrued expenses
Accrued expenses consist of the following as of the end of the fiscal periods presented (in thousands):
20202019
Accrued payroll, withholdings and benefits$270,895 $203,200 
Accrued real estate taxes, utilities and other occupancy costs78,836 67,354 
Accrued property and equipment26,981 32,756 
Accrued sales tax30,175 21,214 
Other111,247 90,977 
Total accrued expenses$518,134 $415,501 
v3.21.1
Deferred Revenue and Other Liabilities (Tables)
 12 Months Ended
Jan. 30, 2021
Deferred Credits and Other Liabilities [Abstract]  
Schedule of deferred revenue and other liabilities
Deferred revenue and other liabilities consist of the following as of the end of the fiscal periods presented (in thousands):
20202019
Current:
  
Deferred gift card revenue
$173,786 $159,417 
Customer loyalty program
41,600 32,955 
Other
44,918 33,587 
Total current deferred revenue and other liabilities
$260,304 $225,959 
Long-term:
  
Deferred compensation$125,696 $99,686 
Other
59,630 34,169 
Total other long-term liabilities
$185,326 $133,855 
v3.21.1
Leases (Tables)
 12 Months Ended
Jan. 30, 2021
Leases [Abstract]  
Components of lease cost
The components of lease cost for the following fiscal periods presented were as follows (in thousands):
20202019
Operating lease cost$584,392 $590,381 
Short-term lease cost10,625 7,579 
Variable lease cost119,007 119,452 
Sublease income(10,798)(5,135)
Total lease cost$703,226 $712,277 
Prior to the adoption of ASU 2016-02, Leases (Topic 842), rent expense under operating leases totaled $530.9 million in fiscal 2018.
Other information related to operating leases
Supplemental cash flow information related to operating leases for the following fiscal years presented were as follows (in thousands):
20202019
  Cash paid for amounts included in the measurement of operating lease liabilities$620,529 $655,679 
  Non-cash operating lease assets and liabilities obtained in exchange for new or
modified leases		$299,619 $244,153 
Supplemental balance sheet information related to operating leases were as follows:
January 30,
2021		February 1,
2020
  Weighted average remaining lease term for operating leases6.40 years6.71 years
  Weighted average discount rate for operating leases6.44 %6.57 %
Schedule of future maturities of operating lease liabilities determined under Topic 842
Future maturities of operating lease liabilities as of January 30, 2021 were as follows (in thousands):
Fiscal Year
2021$687,983 
2022614,897 
2023535,486 
2024436,699 
2025344,066 
Thereafter707,293 
Total future undiscounted lease payments3,326,424 
Less: imputed interest(594,446)
      Total reported lease liability$2,731,978 
v3.21.1
Revolving Credit Facility (Table)
 12 Months Ended
Jan. 30, 2021
Debt Disclosure [Abstract]  
Schedule of revolving Credit Facility information
The table below presents selected Credit Facility information as of the end of the following fiscal years (in thousands):
20202019
Outstanding borrowings under Credit Facility
$— $224,100 
Remaining borrowing capacity under Credit Facility$1,396,436 $1,359,769 
Outstanding letters of credit under Credit Facility$16,128 $16,131 
v3.21.1
Convertible Senior Notes (Table)
 12 Months Ended
Jan. 30, 2021
Convertible Senior Notes [Abstract]  
Summary of the principal, unamortized debt discount including debt issuance costs, and net carrying value of the liability component of the Convertible Senior Notes
A summary of the composition of the net carrying values of the liability and equity components of the Convertible Senior Notes is as follows:
(in millions)January 30, 2021
Principal$575.0 
Debt discount$(156.5)
Carrying amount$418.5 
Equity component (*)
$160.7 
(*) Included in additional paid-in capital on the Consolidated Balance Sheets.
v3.21.1
Stockholders' Equity (Tables)
 12 Months Ended
Jan. 30, 2021
Stockholders' Equity Note [Abstract]  
Schedule of common stock repurchased
The Company’s Board of Directors authorized a five-year $1.0 billion share repurchase program on March 16, 2016, under which it repurchased shares as follows for the fiscal years presented (in thousands):
 
Fiscal Year
 
202020192018
Shares of common stock repurchased —11,0529,572
Cash paid for treasury stock$— $402,240 $323,352 
v3.21.1
Income Taxes (Tables)
 12 Months Ended
Jan. 30, 2021
Income Tax Disclosure [Abstract]  
Schedule of components of the provision for income taxes
The components of the provision for income taxes are as follows for the fiscal years presented (in thousands):
202020192018
Current:
  
Federal
$185,197 $87,263 $94,729 
State
42,537 24,139 22,585 
Total current provision227,734 111,402 117,314 
Deferred:
  
Federal
(37,376)(606)(3,943)
State
(8,874)(554)(1,315)
Total deferred provision(46,250)(1,160)(5,258)
Total provision
$181,484 $110,242 $112,056 
Reconciliation of the federal statutory income tax rate to the effective income tax rate
The Company’s effective income tax rate differs from the federal statutory rate as follows for the fiscal years presented:

202020192018
Federal statutory rate
21.0 %21.0 %21.0 %
State tax, net of federal benefit
3.8 %4.6 %3.8 %
Other permanent items
0.7 %1.4 %1.1 %
Effective income tax rate
25.5 %27.0 %25.9 %
Schedule of the components of deferred tax assets (liabilities)
Components of deferred tax assets (liabilities) consist of the following as of the end of the fiscal years presented (in thousands):
20202019
Operating lease liabilities$718,349 $756,660 
Inventory
29,744 43,499 
Employee benefits and withholdings56,245 38,554 
Stock-based compensation
18,123 19,494 
Gift cards
16,474 14,044 
Deferred revenue currently taxable
1,948 2,450 
Other accrued expenses not currently deductible for tax purposes12,304 6,343 
Net operating loss carryforward
527 1,207 
Non income-based tax reserves4,107 3,675 
Capital loss carryforward
920 922 
Uncertain income tax positions497 905 
Insurance
2,486 2,175 
Convertible senior notes1,382 — 
Other
832 1,043 
Total deferred tax assets
863,938 890,971 
Operating lease assets(553,997)(597,553)
Property and equipment
(217,204)(232,832)
Inventory valuation
(26,298)(40,049)
Intangibles
(7,880)(7,518)
Prepaid expenses
(4,338)(3,928)
Other
(2,746)(3,866)
Total deferred tax liabilities
(812,463)(885,746)
Net deferred tax asset
$51,475 $5,225 
Schedule of reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties
The following table provides a reconciliation of the Company’s total balance of unrecognized tax benefits, excluding interest and penalties (in thousands):
202020192018
Beginning of fiscal year
$2,786 $4,318 $8,047 
Increases as a result of tax positions taken in a prior period
35 422 456 
Decreases as a result of tax positions taken in a prior period
— (1,532)(411)
Decreases as a result of settlements during the current period
(1,380)(422)(2,977)
Reductions as a result of a lapse of statute of limitations during the current period
(383)— (797)
End of fiscal year
$1,058 $2,786 $4,318 
v3.21.1
Stock-Based Compensation (Tables)
 12 Months Ended
Jan. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of stock-based compensation The following table provides total stock-based compensation recognized in the Consolidated Statements of Income for the fiscal years presented (in thousands):
202020192018
Stock option expense
$6,186 $6,286 $7,147 
Restricted stock expense
43,991 37,207 34,794 
Total stock-based compensation expense
$50,177 $43,493 $41,941 
Total related tax benefit
$10,443 $9,620 $9,104 
Schedule of assumptions used to estimate the fair value of stock-based awards to employees
The following assumptions were used in the Black-Scholes option valuation model for awards granted in the fiscal years presented:
 
Employee Stock Option Plans
Black-Scholes Valuation Assumptions
202020192018
Expected term (years) (1)
5.565.395.20
Expected volatility (2)
38.16% - 47.90%
35.15% - 38.40%
33.15% - 37.41%
Weighted average volatility
41.31 %35.75 %34.61 %
Risk-free interest rate (3)
0.21% - 1.32%
1.39% - 2.43%
2.55% - 3.04%
Expected dividend yield
2.08% - 6.58%
2.31% - 3.25%
2.40% - 2.82%
Weighted average grant date fair value
$3.70 $10.59 $9.02 

(1)Represents the estimated period of time until exercise and is based on historical experience of similar awards giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior.
(2)Based on the historical volatility of the Company’s common stock over a time frame consistent with the expected life of the stock options.
(3)Based on the implied yield available on U.S. Treasury constant maturity interest rates whose term is consistent with the expected life of the stock options.
Schedule of stock option activity
Stock option activity for the last three fiscal years is presented in the following table:
Shares Subject to OptionsWeighted Average Exercise Price per ShareWeighted Average Remaining Contractual Life (Years)Aggregate Intrinsic Value (in thousands)
Outstanding, February 3, 20183,129,949 $48.97 4.08$389 
Granted881,334 34.18 
Forfeited / Expired(880,856)45.96 
Outstanding, February 2, 20193,130,427 $45.65 4.07$1,783 
Granted605,574 38.58 
Exercised(144,275)38.59 
Forfeited / Expired(528,352)43.97 
Outstanding, February 1, 20203,063,374 $44.87 3.88$10,254 
Granted2,462,854 17.80 
Exercised(781,386)48.15 
Forfeited / Expired(391,946)41.40 
Outstanding, January 30, 20214,352,896 $29.28 4.96$164,231 
Exercisable, January 30, 20211,151,449 $47.13 2.70$22,888 
Vested and expected to vest, January 30, 20213,991,508 $29.92 4.87$148,047 
Schedule of nonvested stock option activity
Nonvested stock option activity for the year ended January 30, 2021 is presented in the following table:
Shares Subject to OptionsWeighted Average Grant Date Fair Value
Nonvested, February 1, 20201,432,571 $10.66 
Granted2,462,854 3.70 
Vested(546,873)11.16 
Forfeited(147,105)7.43 
Nonvested, January 30, 20213,201,447 $5.37 
Schedule of stock options outstanding and exercisable by range of exercise prices
Additional information regarding stock options outstanding as of January 30, 2021 is as follows:
Options OutstandingOptions Exercisable
Range of
Exercise Prices		SharesWeighted Average Remaining Contractual Life (Years)Weighted Average Exercise PriceSharesWeighted Average Exercise Price
$16.81 - $24.48
2,297,002 6.14$16.84 — $— 
$27.21 - $35.60
557,921 4.4133.14 197,168 33.38 
$36.47 - $43.91
502,038 5.2538.63 100,628 38.78 
$44.37 - $51.72
689,166 2.7447.98 570,732 47.91 
$52.01 - $60.17
306,769 1.6258.09 282,921 58.11 
$16.81 - $60.17
4,352,896 4.96$29.28 1,151,449 $47.13 
Schedule of nonvested restricted stock activity
Restricted stock activity for the last three fiscal years is presented in the following table:
SharesWeighted Average Grant Date Fair Value
Nonvested, February 3, 20183,604,237 $44.84 
Granted1,616,600 33.96 
Vested(549,293)49.88 
Forfeited(1,213,927)45.05 
Nonvested, February 2, 20193,457,617 $38.88 
Granted1,578,677 37.37 
Vested(852,549)38.96 
Forfeited(796,795)39.84 
Nonvested, February 1, 20203,386,950 $37.94 
Granted2,744,671 18.29 
Vested(803,743)46.17 
Forfeited(434,146)26.96 
Nonvested, January 30, 20214,893,732 $26.54 
v3.21.1
Commitments and Contingencies (Tables)
 12 Months Ended
Jan. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of future minimum payments for marketing and naming rights commitments
As of January 30, 2021, the aggregate amount of future minimum payments related to these commitments is as follows (in thousands):
Fiscal Year
 
2021$14,018 
20224,054 
20232,888 
20242,975 
20253,064 
Thereafter
3,156 
Total
$30,155 
Schedule of future minimum payments for trademark licensing commitments
As of January 30, 2021, the aggregate amount of future minimum payments under these commitments is as follows (in thousands):
Fiscal Year
 
2021$2,208 
20221,250 
Total
$3,458 
Schedule of future minimum payments for other contractual commitments
As of January 30, 2021, the aggregate amount of future minimum payments under these commitments is as follows (in thousands):
Fiscal Year
 
2021$44,418 
202236,035 
20234,014 
20241,368 
20251,368 
Total
$87,203 
v3.21.1
Basis of Presentation and Summary of Significant Accounting Policies (Details)
$ in Millions
 12 Months Ended
Jan. 30, 2021
USD ($)
segment
store
Feb. 01, 2020
USD ($)
segment
Feb. 02, 2019
USD ($)
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Number of DICK'S Sporting Goods stores | store 728    
Number of weeks in fiscal period 52 weeks 52 weeks 52 weeks
Cash and Cash Equivalents / Cash Management      
Checks drawn in excess of cash balances not yet presented for payment $ 111.2 $ 54.0  
Accounts Receivable      
Allowance for credit losses 2.7 3.0  
Inventories      
Inventory valuation and vendor allowances 101.3 131.7  
Advertising Costs      
Advertising expense net of cooperative advertising $ 293.4 $ 338.7 $ 322.2
Operating Segment Information      
Number of reportable segments | segment 1 1 1
v3.21.1
Basis of Presentation and Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Property and Equipment      
Depreciation expense $ 317.5 $ 307.2 $ 285.8
Buildings      
Property and Equipment      
Estimated useful life 40 years    
Leasehold improvements | Minimum      
Property and Equipment      
Estimated useful life 10 years    
Leasehold improvements | Maximum      
Property and Equipment      
Estimated useful life 25 years    
Furniture, fixtures and equipment | Minimum      
Property and Equipment      
Estimated useful life 3 years    
Furniture, fixtures and equipment | Maximum      
Property and Equipment      
Estimated useful life 7 years    
Computer software | Minimum      
Property and Equipment      
Estimated useful life 3 years    
Computer software | Maximum      
Property and Equipment      
Estimated useful life 10 years    
v3.21.1
Basis of Presentation and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Revenue Recognition      
Total net sales $ 9,584,019 $ 8,750,743 $ 8,436,570
Gift card breakage revenue      
Revenue Recognition      
Revenue recognized from contract liability at beginning of period 18,300 17,400  
Gift card redemption revenue      
Revenue Recognition      
Revenue recognized from contract liability at beginning of period $ 74,700 82,000  
Gift card redemption revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-02-02      
Revenue Recognition      
Expected timing of performance obligation satisfaction 12 months    
Customer loyalty redemption revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-02-02      
Revenue Recognition      
Expected timing of performance obligation satisfaction 12 months    
Hardlines      
Revenue Recognition      
Total net sales $ 4,428,500 3,695,200 3,632,100
Apparel      
Revenue Recognition      
Total net sales 3,180,200 3,109,000 2,962,400
Footwear      
Revenue Recognition      
Total net sales 1,834,300 1,811,400 1,719,500
Other      
Revenue Recognition      
Total net sales $ 141,000 $ 135,100 $ 122,600
v3.21.1
Basis of Presentation and Summary of Significant Accounting Policies - COVID-19 Update (Details)
 12 Months Ended
Jan. 30, 2021
USD ($)
Apr. 17, 2020
USD ($)
Feb. 01, 2020
USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Par value $ 575,000,000.0 $ 575,000,000  
Cash and cash equivalents 1,658,067,000   $ 69,334,000
Borrowings under Credit Facility 0   $ 224,100,000
Employee retention tax credits 17,400,000    
Deferred qualified payroll and other tax payments as permitted by the CARES Act 53,200,000    
Deferred qualified payroll and other tax payments as permitted by the CARES Act, due in twelve months $ 26,800,000    
Pay premium percentage provided to store and distribution center teammates 0.15    
Incremental compensation and safety costs $ 175,000,000    
v3.21.1
Basis of Presentation and Summary of Significant Accounting Policies - New Accounting Pronouncements or Change in Accounting Principle (Details) - USD ($)
$ in Thousands
 12 Months Ended
Feb. 01, 2020
Feb. 02, 2019
Jan. 30, 2021
Feb. 03, 2019
Feb. 04, 2018
Feb. 03, 2018
New Accounting Pronouncements or Change in Accounting Principle            
Deferred revenue and other liabilities $ 225,959   $ 260,304   $ 27,700  
Operating lease assets 2,313,846   2,149,913 $ 2,500,000    
Operating lease liabilities     2,731,978 3,100,000    
Cumulative effect of new accounting principle in period of adoption $ (1,731,598) $ (1,904,161) $ (2,339,534)     $ (1,941,501)
Accounting Standards Update [Extensible List] us-gaap:AccountingStandardsUpdate201602Member us-gaap:AccountingStandardsUpdate201409Member        
Cumulative Effect, Period of Adoption, Adjustment            
New Accounting Pronouncements or Change in Accounting Principle            
Cumulative effect of new accounting principle in period of adoption $ 7,953 $ (20,488)   $ 8,000 $ (20,500)  
v3.21.1
Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Earnings Per Share [Abstract]      
Net income $ 530,251 $ 297,462 $ 319,864
Weighted average common shares outstanding - basic (in shares) 84,258 87,502 97,743
Dilutive effect of stock-based awards (in shares) 4,185 1,564 1,038
Dilutive effect of Convertible Senior Notes and warrants (in shares) 4,196 0 0
Weighted average common shares outstanding - diluted (in shares) 92,639 89,066 98,781
Earnings per common share (in dollars per share) - basic $ 6.29 $ 3.40 $ 3.27
Earnings per common share (in dollars per share) - diluted $ 5.72 $ 3.34 $ 3.24
v3.21.1
Earnings Per Common Share - Narrative (Details) - shares
shares in Millions
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Share-based Payment Arrangement      
Antidilutive securities excluded from computation of earnings per share      
Anti-dilutive shares excluded from diluted calculation (in shares) 1.7 3.0 3.5
Bond Hedge      
Antidilutive securities excluded from computation of earnings per share      
Anti-dilutive shares excluded from diluted calculation (in shares) 3.5    
v3.21.1
Property and Equipment (Details) - USD ($)
$ in Thousands
Jan. 30, 2021
Feb. 01, 2020
Property and Equipment    
Total property and equipment $ 3,676,351 $ 3,567,654
Less: accumulated depreciation and amortization (2,376,086) (2,151,926)
Net property and equipment 1,300,265 1,415,728
Buildings and land    
Property and Equipment    
Total property and equipment 328,417 322,618
Leasehold improvements    
Property and Equipment    
Total property and equipment 1,729,239 1,671,782
Furniture, fixtures and equipment    
Property and Equipment    
Total property and equipment 1,158,691 1,148,670
Computer software    
Property and Equipment    
Total property and equipment 460,004 424,584
Construction in progress    
Property and Equipment    
Total property and equipment $ 69,200 $ 44,700
v3.21.1
Goodwill and Other Intangible Assets - Goodwill (Details)
 12 Months Ended
Jan. 30, 2021
USD ($)
Feb. 01, 2020
USD ($)
subsidiary
Feb. 02, 2019
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]      
Accumulated impairment $ 111,300,000 $ 111,300,000  
Goodwill [Roll Forward]      
Goodwill, balance at beginning of year 245,857,000 250,476,000  
Sale of subsidiaries 0 (4,619,000)  
Goodwill, balance at end of year 245,857,000 245,857,000 $ 250,476,000
Goodwill impairment charges 0 $ 0 0
Number of subsidiaries sold by the Company | subsidiary   2  
Intangible assets disposed of in connection with the sale of subsidiaries   $ 2,100,000  
Proceeds from sale of subsidiaries, net of cash sold 0 40,387,000 0
Gain on sale of subsidiaries $ 0 $ 33,779,000 $ 0
v3.21.1
Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Thousands
Jan. 30, 2021
Feb. 01, 2020
Components of intangible assets    
Indefinite-lived intangible assets $ 82,200 $ 82,700
Accumulated amortization (22,377) (26,727)
Total intangible assets 112,428 121,495
Finite-lived intangible assets 7,834 12,100
Trademarks    
Components of intangible assets    
Indefinite-lived intangible assets 61,315 60,910
Trade names    
Components of intangible assets    
Indefinite-lived intangible assets 15,660 15,660
Customer lists    
Components of intangible assets    
Gross amount - Finite-lived intangible assets 18,195 18,195
Accumulated amortization (11,604) (9,176)
Acquired technology and other finite-lived intangible assets    
Components of intangible assets    
Gross amount - Finite-lived intangible assets 12,016 20,634
Accumulated amortization (10,773) (17,551)
Other indefinite-lived intangible assets    
Components of intangible assets    
Indefinite-lived intangible assets $ 5,242 $ 6,096
v3.21.1
Goodwill and Other Intangible Assets - Amortization Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense of finite-lived intangible assets $ 4,300 $ 5,300 $ 6,400
Estimated Amortization Expense      
2021 3,626    
2022 2,473    
2023 1,544    
2024 191    
Total $ 7,834 $ 12,100  
v3.21.1
Accrued Expenses (Details) - USD ($)
$ in Thousands
Jan. 30, 2021
Feb. 01, 2020
Accrued Liabilities, Current [Abstract]    
Accrued payroll, withholdings and benefits $ 270,895 $ 203,200
Accrued real estate taxes, utilities and other occupancy 78,836 67,354
Accrued property and equipment 26,981 32,756
Accrued sales tax 30,175 21,214
Other accrued expenses 111,247 90,977
Total accrued expenses $ 518,134 $ 415,501
v3.21.1
Deferred Revenue and Other Liabilities (Details) - USD ($)
$ in Thousands
Jan. 30, 2021
Feb. 01, 2020
Feb. 04, 2018
Current:      
Other $ 44,918 $ 33,587  
Total current deferred revenue and other liabilities 260,304 225,959 $ 27,700
Long-term:      
Deferred compensation 125,696 99,686  
Other 59,630 34,169  
Total other long-term liabilities 185,326 133,855  
Deferred gift card revenue      
Current:      
Customer contract liabilities 173,786 159,417  
Customer loyalty program      
Current:      
Customer contract liabilities $ 41,600 $ 32,955  
v3.21.1
Leases (Details)
Jan. 30, 2021
DistributionCenter
Leases  
Number of distribution centers leased 3
Additional renewal period 5 years
Minimum  
Leases  
Initial tenure of operating leases 10 years
Maximum  
Leases  
Initial tenure of operating leases 15 years
v3.21.1
Leases - Components of lease cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Lease, Cost [Abstract]      
Operating lease cost $ 584,392 $ 590,381  
Short-term lease cost 10,625 7,579  
Variable lease cost 119,007 119,452  
Sublease income (10,798) (5,135)  
Total lease cost $ 703,226 $ 712,277  
Rent expense under operating leases prior to the adoption of Leases (Topic 842)     $ 530,900
v3.21.1
Leases - Other information related to operating leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Leases [Abstract]    
Cash paid for amounts included in the measurement of operating lease liabilities $ 620,529 $ 655,679
Non-cash operating lease assets and liabilities obtained in exchange for new or modified leases $ 299,619 $ 244,153
Weighted average remaining lease term for operating leases 6 years 4 months 24 days 6 years 8 months 15 days
Weighted average discount rate for operating leases 6.44% 6.57%
v3.21.1
Leases - Future maturities of operating lease liabilities (Details) - USD ($)
$ in Thousands
Jan. 30, 2021
Feb. 03, 2019
Future maturities of operating lease liabilities    
2021 $ 687,983  
2022 614,897  
2023 535,486  
2024 436,699  
2025 344,066  
Thereafter 707,293  
Total future undiscounted lease payments 3,326,424  
Less: imputed interest (594,446)  
Total reported lease liability 2,731,978 $ 3,100,000
Future lease payments for operating leases that have not yet commenced 67,300  
Total future minimum rentals under non-cancellable subleases $ 66,600  
v3.21.1
Revolving Credit Facility (Details) - USD ($)
 12 Months Ended
Mar. 27, 2020
Jun. 28, 2019
Jan. 30, 2021
Feb. 01, 2020
Revolving Credit Facility        
Unused commitment fee (as a percent)     0.20%  
Amount of aggregate commitments under Credit Facility when applicable margin rates may be reduced $ 1,600,000,000      
Revolving credit borrowings     $ 0 $ 224,100,000
Base rate        
Revolving Credit Facility        
Interest rate margin (as a percent) 0.375%      
Base rate | Minimum        
Revolving Credit Facility        
Interest rate margin (as a percent)   0.125%    
Adjusted LIBOR rate        
Revolving Credit Facility        
Interest rate margin (as a percent) 1.375%      
LIBOR floor rate (as a percent) 0.0075      
Adjusted LIBOR rate | Minimum        
Revolving Credit Facility        
Interest rate margin (as a percent)   1.125%    
Revolving Credit Facility        
Revolving Credit Facility        
Credit Facility previous borrowing capacity   $ 1,600,000,000    
Credit Facility borrowing capacity $ 1,855,000,000      
Credit Facility borrowing capacity extension $ 245,000,000.0      
Adjusted availability of borrowing base (as a percent) 7.50%      
Remaining borrowing capacity     1,396,436,000 1,359,769,000
Revolving credit borrowings     0 224,100,000
Letters of credit        
Revolving Credit Facility        
Letters of credit maximum $ 150,000,000.0      
Letters of credit outstanding     $ 16,128,000 $ 16,131,000
v3.21.1
Convertible Senior Notes (Details)
 12 Months Ended
Jan. 30, 2021
USD ($)
$ / shares
Rate
Apr. 17, 2020
USD ($)
item
day
$ / shares
Rate
Jan. 30, 2021
USD ($)
day
$ / shares
Feb. 01, 2020
USD ($)
Feb. 02, 2019
USD ($)
Convertible Senior Notes          
Principal $ 575,000,000.0 $ 575,000,000 $ 575,000,000.0    
Convertible senior notes due 2025 418,493,000   418,493,000 $ 0  
Equity component $ 160,700,000   160,700,000    
Amortization of convertible notes discount and issuance costs     $ 21,581,000 $ 0 $ 0
Conversion Option, Convertible Senior Notes          
Convertible Senior Notes          
Principal   $ 575,000,000.0      
Interest rate, stated percentage   3.25%      
Over allotment option   $ 75,000,000.0      
Proceeds from debt, net of issuance costs   557,600,000      
Debt issuance costs   $ 17,400,000      
Conversion ratio | Rate 2880.28% 2826.18%      
Convertible principal amount   $ 1,000      
Conversion price (in dollars per share) | $ / shares $ 34.72 $ 35.38 $ 34.72    
Closing price of the Company's common stock at the end of fiscal 2020 (in dollars per share) | $ / shares $ 67.01   $ 67.01    
Amount in which the if-converted value exceeds the principal amount     $ 534,800,000    
Convertible senior notes due 2025   $ 396,900,000      
Equity component   $ 160,700,000      
Interest rate, effective percentage   11.60%      
Amortization and interest expense, Convertible Senior Notes     36,400,000    
Amortization of convertible notes discount and issuance costs     $ 21,600,000    
Threshold trading days | item   20      
Threshold consecutive trading days | item   30      
Conversion percentage of stock price trigger   130.00%      
Consecutive business days, following measurement period | day   5      
Measurement period | day     5    
Conversion percentage trigger based on measurement period   0.98      
v3.21.1
Convertible Senior Notes - Summary of the Composition of net carrying values of the liability and equity components of the Convertible Senior Notes (Details) - USD ($)
Jan. 30, 2021
Apr. 17, 2020
Feb. 01, 2020
Convertible Senior Notes [Abstract]      
Principal $ 575,000,000.0 $ 575,000,000  
Debt discount (156,500,000)    
Carrying amount 418,493,000   $ 0
Equity component $ 160,700,000    
v3.21.1
Convertible Senior Notes - Convertible Note Hedge and Warrant Transactions (Details) - Convertible Note Hedge and Warrant Transactions - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
Apr. 17, 2020
Jan. 30, 2021
Convertible Senior Notes    
Debt instrument, term 5 years  
Number of securities called by warrants or rights (in shares)   16.6
Exercise price of warrants or rights (in dollars per share) $ 52.42 $ 51.44
Convertible, conversion price percentage - note hedge 35.00%  
Convertible, conversion price percentage - warrants 100.00%  
Additional Paid-In Capital    
Convertible Senior Notes    
Bond hedges and sale of warrants, net $ 55.8  
v3.21.1
Fair Value Measurements (Details)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
USD ($)
Feb. 01, 2020
USD ($)
store
Feb. 02, 2019
USD ($)
Fair Value Measurements      
Carrying amount $ 418,493 $ 0  
Hunt removal charges   57,700  
Impairment of a trademark 0 28,296 $ 0
Non-cash impairments of store assets in connection with hunt removal   7,400  
Inventory write-down in connection with hunt removal   13,100  
Charges related to exit of Field & Stream stores   $ 8,900  
Number of Field & Stream stores subleased to Sportsman's Warehouse | store   8  
Level 1      
Fair Value Measurements      
Deferred compensation plan assets held in trust 125,700 $ 99,700  
Level 2      
Fair Value Measurements      
Convertible Senior Notes, fair value $ 1,200,000    
v3.21.1
Stockholders' Equity (Details)
 12 Months Ended
Jan. 30, 2021
item
$ / shares
shares
Feb. 01, 2020
item
$ / shares
shares
Feb. 02, 2019
$ / shares
Preferred stock, authorized shares | shares 5,000,000 5,000,000  
Common Stock      
Common stock, authorized shares | shares 200,000,000 200,000,000  
Common stock, par value (in dollars per share) | $ / shares $ 0.01 $ 0.01  
Voting rights per common share | item 1 1  
Dividends per Common Share      
Cash dividends paid (in dollars per share) | $ / shares $ 1.25 $ 1.10 $ 0.90
Class B Common Stock      
Common stock, authorized shares | shares 40,000,000 40,000,000  
Common stock, par value (in dollars per share) | $ / shares $ 0.01 $ 0.01  
Voting rights per common share | item 10 10  
Number of shares of common stock to be received for each share of Class B common stock converted | shares 1 1  
Dividends per Common Share      
Cash dividends paid (in dollars per share) | $ / shares $ 1.25 $ 1.10 $ 0.90
v3.21.1
Stockholders' Equity - Treasury Stock (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 12, 2019
Mar. 16, 2016
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Treasury Stock [Abstract]          
Shares of common stock repurchased     0 11,052,000 9,572,000
Cash paid for treasury stock     $ 0 $ 402,240 $ 323,352
Period over which shares may be purchased under share repurchase program (in years) 5 years 5 years      
Authorized aggregate repurchases of common stock $ 1,000,000 $ 1,000,000      
Repurchase of common stock, remaining authorization     $ 31,200    
v3.21.1
Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Current:      
Federal $ 185,197 $ 87,263 $ 94,729
State 42,537 24,139 22,585
Total current provision 227,734 111,402 117,314
Deferred:      
Federal (37,376) (606) (3,943)
State (8,874) (554) (1,315)
Total deferred provision (46,250) (1,160) (5,258)
Total provision $ 181,484 $ 110,242 $ 112,056
v3.21.1
Income Taxes - Reconciliation of Effective Income Tax Rate (Details)
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Reconciliation of the federal statutory income tax rate to the effective income tax rate      
Federal statutory rate (as a percent) 21.00% 21.00% 21.00%
State tax, net of federal benefit (as a percent) 3.80% 4.60% 3.80%
Other permanent items (as a percent) 0.70% 1.40% 1.10%
Effective income tax rate (as a percent) 25.50% 27.00% 25.90%
v3.21.1
Income Taxes - Components of Deferred Tax Assets / Liabilities (Details) - USD ($)
$ in Thousands
Jan. 30, 2021
Feb. 01, 2020
Deferred tax assets    
Operating lease liabilities $ 718,349 $ 756,660
Inventory 29,744 43,499
Employee benefits and withholdings 56,245 38,554
Stock-based compensation 18,123 19,494
Gift cards 16,474 14,044
Deferred revenue currently taxable 1,948 2,450
Other accrued expenses not currently deductible for tax purposes 12,304 6,343
Net operating loss carryforward 527 1,207
Non income-based tax reserves 4,107 3,675
Capital loss carryforward 920 922
Uncertain income tax positions 497 905
Insurance 2,486 2,175
Convertible senior notes 1,382 0
Other 832 1,043
Total deferred tax assets 863,938 890,971
Deferred tax liabilities    
Operating lease assets (553,997) (597,553)
Property and equipment (217,204) (232,832)
Inventory valuation (26,298) (40,049)
Intangibles (7,880) (7,518)
Prepaid expenses (4,338) (3,928)
Other (2,746) (3,866)
Total deferred tax liabilities (812,463) (885,746)
Net deferred tax asset $ 51,475 $ 5,225
v3.21.1
Income Taxes - Reconciliation of Unrecognized Tax Benefits, Excluding Interest and Penalties (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties      
Beginning of fiscal year $ 2,786 $ 4,318 $ 8,047
Increases as a result of tax positions taken in a prior period 35 422 456
Decreases as a result of tax positions taken in a prior period 0 (1,532) (411)
Decreases as a result of settlements during the current period (1,380) (422) (2,977)
Reductions as a result of a lapse of statute of limitations during the current period (383) 0 (797)
End of fiscal year $ 1,058 $ 2,786 $ 4,318
v3.21.1
Income Taxes - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Feb. 03, 2018
Income Taxes        
Net operating loss carryforward $ 527 $ 1,207    
Net deferred tax asset 51,475 5,225    
Deferred income taxes 0 9,187    
Undistributed earnings of foreign subsidiaries       $ 66,600
Transition tax on accumulated undistributed foreign earnings 4,200      
Unrecognized tax benefits that would impact effective tax rate if recognized 800      
Accrued interest and penalties associated with uncertain tax positions 1,300      
Total liability for uncertain tax positions, including related interest and penalties 2,400      
Accrual of interest and penalties related to uncertain tax positions $ 100 300 $ 300  
Other long-term assets        
Income Taxes        
Deferred income taxes   14,400    
Long-term liabilities        
Income Taxes        
Deferred income taxes   $ 9,200    
v3.21.1
Stock-Based Compensation (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Feb. 03, 2018
Stock-based compensation expense        
Number of shares available for future issuance under the plan 848,800      
Total stock-based compensation expense $ 50,177 $ 43,493 $ 41,941  
Total related tax benefit 10,443 9,620 9,104  
Stock options        
Stock-based compensation expense        
Stock-based compensation expense $ 6,186 $ 6,286 $ 7,147  
Vesting rights (as a percent) 25.00%      
Vesting period 4 years      
Weighted average assumptions used to estimate the fair value of stock-based awards to employees        
Expected term 5 years 6 months 21 days 5 years 4 months 20 days 5 years 2 months 12 days  
Expected volatility, minimum (as a percent) 38.16% 35.15% 33.15%  
Expected volatility, maximum (as a percent) 47.90% 38.40% 37.41%  
Weighted average volatility (as a percent) 41.31% 35.75% 34.61%  
Risk-free interest rate, minimum (as a percent) 0.21% 1.39% 2.55%  
Risk-free interest rate, maximum (as a percent) 1.32% 2.43% 3.04%  
Weighted average grant date fair value (in dollars per share) $ 3.70 $ 10.59 $ 9.02  
Shares Subject to Options        
Outstanding at the beginning of the period (in shares) 3,063,374 3,130,427 3,129,949  
Granted (in shares) 2,462,854 605,574 881,334  
Exercised (in shares) (781,386) (144,275) 0  
Forfeited / Expired (in shares) (391,946) (528,352) (880,856)  
Outstanding at the end of the period (in shares) 4,352,896 3,063,374 3,130,427 3,129,949
Exercisable at the end of the period (in shares) 1,151,449      
Vested and expected to vest at the end of the period (in shares) 3,991,508      
Weighted Average Exercise Price per Share        
Outstanding at the beginning of the period (in dollars per share) $ 44.87 $ 45.65 $ 48.97  
Granted (in dollars per share) 17.80 38.58 34.18  
Exercised (in dollars per share) 48.15 38.59    
Forfeited / Expired (in dollars per share) 41.40 43.97 45.96  
Outstanding at the end of the period (in dollars per share) 29.28 $ 44.87 $ 45.65 $ 48.97
Exercisable at the end of the period (in dollars per share) 47.13      
Vested and expected to vest at the end of the period (in dollars per share) $ 29.92      
Weighted Average Remaining Contractual Life (in years)        
Weighted Average Remaining Contractual Life 4 years 11 months 15 days 3 years 10 months 17 days 4 years 25 days 4 years 29 days
Exercisable at the end of the period 2 years 8 months 12 days      
Vested and expected to vest at the end of the period 4 years 10 months 13 days      
Aggregate Intrinsic Value        
Outstanding at the beginning of the period (in dollars) $ 10,254 $ 1,783 $ 389  
Outstanding at the end of the period (in dollars) 164,231 10,254 1,783 $ 389
Exercisable at the end of the period (in dollars) 22,888      
Vested and expected to vest at the end of the period (in dollars) 148,047      
Additional disclosures        
Total intrinsic value of stock options exercised 8,300 1,000    
Total fair value of options vested $ 6,100 $ 7,000 $ 8,100  
Nonvested stock option activity        
Nonvested at the beginning of the period (in shares) 1,432,571      
Granted (in shares) 2,462,854 605,574 881,334  
Vested (in shares) (546,873)      
Forfeited (in shares) (147,105)      
Nonvested at the end of the period (in shares) 3,201,447 1,432,571    
Weighted Average Grant Date Fair Value, Nonvested stock option activity        
Nonvested at the beginning of the period (in dollars per share) $ 10.66      
Granted (in dollars per share) 3.70 $ 10.59 $ 9.02  
Vested (in dollars per share) 11.16      
Forfeited (in dollars per share) 7.43      
Nonvested at the end of the period (in dollars per share) $ 5.37 $ 10.66    
Unrecognized compensation expense        
Unrecognized stock-based compensation expense related to nonvested awards, net of estimated forfeitures $ 10,400      
Weighted average period over which unrecognized compensation expense is expected to be recognized 2 years 9 months 18 days      
Stock options | Minimum        
Weighted average assumptions used to estimate the fair value of stock-based awards to employees        
Expected dividend yield (as a percent) 2.08% 2.31% 2.40%  
Stock options | Maximum        
Stock-based compensation expense        
Expiration terms of options 7 years      
Weighted average assumptions used to estimate the fair value of stock-based awards to employees        
Expected dividend yield (as a percent) 6.58% 3.25% 2.82%  
Restricted stock        
Stock-based compensation expense        
Stock-based compensation expense $ 43,991 $ 37,207 $ 34,794  
Vesting period 3 years      
Unrecognized compensation expense        
Unrecognized stock-based compensation expense related to nonvested awards, net of estimated forfeitures $ 47,900      
Weighted average period over which unrecognized compensation expense is expected to be recognized 1 year 6 months      
v3.21.1
Stock-Based Compensation - Stock Options Outstanding and Exercisable by Range of Exercise Prices (Details)
 12 Months Ended
Jan. 30, 2021
$ / shares
shares
$16.81 to $24.48  
Options Outstanding  
Exercise price per share, low end of range (in dollars per share) $ 16.81
Exercise price per share, high end of range (in dollars per share) $ 24.48
Options Outstanding (in shares) | shares 2,297,002
Weighted Average Remaining Contractual Life (in years) 6 years 1 month 20 days
Weighted Average Exercise Price (in dollars per share) $ 16.84
Options Exercisable  
Options Exercisable (in shares) | shares 0
Weighted Average Exercise Price (in dollars per share) $ 0
$27.21 to $35.60  
Options Outstanding  
Exercise price per share, low end of range (in dollars per share) 27.21
Exercise price per share, high end of range (in dollars per share) $ 35.60
Options Outstanding (in shares) | shares 557,921
Weighted Average Remaining Contractual Life (in years) 4 years 4 months 28 days
Weighted Average Exercise Price (in dollars per share) $ 33.14
Options Exercisable  
Options Exercisable (in shares) | shares 197,168
Weighted Average Exercise Price (in dollars per share) $ 33.38
$36.47 to $43.91  
Options Outstanding  
Exercise price per share, low end of range (in dollars per share) 36.47
Exercise price per share, high end of range (in dollars per share) $ 43.91
Options Outstanding (in shares) | shares 502,038
Weighted Average Remaining Contractual Life (in years) 5 years 3 months
Weighted Average Exercise Price (in dollars per share) $ 38.63
Options Exercisable  
Options Exercisable (in shares) | shares 100,628
Weighted Average Exercise Price (in dollars per share) $ 38.78
$44.37 to $51.72  
Options Outstanding  
Exercise price per share, low end of range (in dollars per share) 44.37
Exercise price per share, high end of range (in dollars per share) $ 51.72
Options Outstanding (in shares) | shares 689,166
Weighted Average Remaining Contractual Life (in years) 2 years 8 months 26 days
Weighted Average Exercise Price (in dollars per share) $ 47.98
Options Exercisable  
Options Exercisable (in shares) | shares 570,732
Weighted Average Exercise Price (in dollars per share) $ 47.91
$52.01 to $60.17  
Options Outstanding  
Exercise price per share, low end of range (in dollars per share) 52.01
Exercise price per share, high end of range (in dollars per share) $ 60.17
Options Outstanding (in shares) | shares 306,769
Weighted Average Remaining Contractual Life (in years) 1 year 7 months 13 days
Weighted Average Exercise Price (in dollars per share) $ 58.09
Options Exercisable  
Options Exercisable (in shares) | shares 282,921
Weighted Average Exercise Price (in dollars per share) $ 58.11
$16.81 to $60.17  
Options Outstanding  
Exercise price per share, low end of range (in dollars per share) 16.81
Exercise price per share, high end of range (in dollars per share) $ 60.17
Options Outstanding (in shares) | shares 4,352,896
Weighted Average Remaining Contractual Life (in years) 4 years 11 months 15 days
Weighted Average Exercise Price (in dollars per share) $ 29.28
Options Exercisable  
Options Exercisable (in shares) | shares 1,151,449
Weighted Average Exercise Price (in dollars per share) $ 47.13
v3.21.1
Stock-Based Compensation - Restricted Stock (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended 24 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Jan. 30, 2021
Restricted Stock        
Stock-Based Compensation and Employee Stock Plans        
Vesting period 3 years      
Restricted stock activity        
Nonvested at the beginning of the period (in shares) 3,386,950 3,457,617 3,604,237 3,457,617
Granted (in shares) 2,744,671 1,578,677 1,616,600  
Vested (in shares) (803,743) (852,549) (549,293)  
Forfeited (in shares) (434,146) (796,795) (1,213,927)  
Nonvested at the end of the period (in shares) 4,893,732 3,386,950 3,457,617 4,893,732
Weighted Average Grant Date Fair Value        
Nonvested at beginning of the period (in dollars per share) $ 37.94 $ 38.88 $ 44.84 $ 38.88
Granted (in dollars per share) 18.29 37.37 33.96  
Vested (in dollars per share) 46.17 38.96 49.88  
Forfeited (in dollars per share) 26.96 39.84 45.05  
Nonvested at the end of the period (in dollars per share) $ 26.54 $ 37.94 $ 38.88 $ 26.54
Unrecognized compensation expense        
Unrecognized stock-based compensation expense related to nonvested awards, net of estimated forfeitures $ 47.9     $ 47.9
Weighted average period over which unrecognized compensation expense is expected to be recognized 1 year 6 months      
Performance Shares 2019 Plan        
Restricted stock activity        
Granted (in shares)       782,931
Nonvested at the end of the period (in shares) 656,526     656,526
v3.21.1
Retirement Savings Plans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Retirement Benefits [Abstract]      
Requisite service period 1 month    
Minimum employee age required to participate in the plan 21 years    
Percentage of the participant's compensation for which a discretionary matching contribution may be made by the Company 10.00%    
Company's typical discretionary matching contribution percentage 50.00%    
Company's discretionary matching contribution percentage in current fiscal year 0.75    
Total expense recorded under the plan, net of forfeitures $ 17,100 $ 10,000 $ 9,800
Liability for compensation deferred under the Company's plans 125,696 99,686  
Total employer contributions recorded under the plans, net of forfeitures $ 5,800 $ 3,200 $ 2,100
v3.21.1
Commitments and Contingencies (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Trademark licensing royalties      
Aggregate payments for trademark licensing royalties $ 6,000 $ 11,100 $ 12,100
2021 2,208    
2022 1,250    
Total 3,458    
Marketing and naming rights commitments      
Payments for marketing, naming rights and other commitments      
Aggregate payments for marketing, naming rights and other commitments 13,500 15,500 18,000
2021 14,018    
2022 4,054    
2023 2,888    
2024 2,975    
2025 3,064    
Thereafter 3,156    
Total 30,155    
Other commitments      
Payments for marketing, naming rights and other commitments      
Aggregate payments for marketing, naming rights and other commitments 49,000 $ 46,900 $ 48,500
2021 44,418    
2022 36,035    
2023 4,014    
2024 1,368    
2025 1,368    
Total $ 87,203    
v3.21.1
Subsequent Events (Details) - Subsequent Events
Mar. 05, 2021
$ / shares
Common Stock  
Subsequent Events  
Dividend amount (in dollars per share) $ 0.3625
Class B Common Stock  
Subsequent Events  
Dividend amount (in dollars per share) $ 0.3625
v3.21.1
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Inventory reserve      
Valuation and qualifying accounts      
Balance at beginning of period $ 57,825 $ 44,040 $ 49,801
Charged to costs and expenses 32,047 27,152 8,281
Deductions (54,317) (13,367) (14,042)
Balance at end of period 35,555 57,825 44,040
Allowance for credit losses      
Valuation and qualifying accounts      
Balance at beginning of period 2,960 2,963 3,488
Charged to costs and expenses 4,313 4,413 4,721
Deductions (4,612) (4,416) (5,246)
Balance at end of period 2,661 2,960 2,963
Reserve for sales returns      
Valuation and qualifying accounts      
Balance at beginning of period 13,122 10,575 10,411
Charged to costs and expenses 508,622 499,597 476,692
Deductions (507,276) (497,050) (476,528)
Balance at end of period $ 14,468 $ 13,122 $ 10,575