0001326380-23-000019 | 10-K | XBRL Viewer

Income Taxes (Tables)

12 Months Ended

Jan. 28, 2023

The following table presents the (benefit) provision for income taxes from continuing operations:


	Fiscal
	2022		2021		2020
Current tax (benefit) expense:
Federal	$	(2.1)	$	(13.2)	$	(154.9)
State	4.0		7.6		(1.5)
Foreign	11.7		7.8		18.8
	13.6		2.2		(137.6)
Deferred tax (benefit) expense:
Federal	—		—		45.5
State	—		—		7.6
Foreign	(2.6)		(16.3)		29.2
	(2.6)		(16.3)		82.3
Total income tax expense (benefit)	$	11.0	$	(14.1)	$	(55.3)

Schedule of Components of Earnings Before Income Tax expense

The following table presents the components of loss from continuing operations before income taxes:


	Fiscal
	2022		2021		2020
United States	$	(272.7)	$	(362.7)	$	(224.6)
International	(29.4)		(32.7)		(45.3)
Total	$	(302.1)	$	(395.4)	$	(269.9)

Schedule of Difference in Income Tax Provided and Amounts Determined by Applying Statutory Rate to Income Before Income Taxes

The following is a reconciliation of income tax expense (benefit) from continuing operations computed at the U.S. Federal statutory tax rate to income tax (benefit) expense reported in our Consolidated Statements of Operations:


	Fiscal
	2022		2021		2020
Federal statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal effect	2.3		3.1		5.0
Foreign income tax rate differential	0.2		0.4		(3.9)
Change in valuation allowance	(27.2)		(33.6)		(41.8)
Change in unrecognized tax benefits	(0.4)		(1.4)		—
Withholding tax expense	(0.3)		(0.3)		(0.3)
Stock-based compensation	(0.2)		6.4		—
U.S. impact of foreign operations	—		—		7.6
Incremental benefit of net operating loss carryback	1.1		3.6		23.5
Loss on worthless debt and related investment	—		5.5		10.7
Other (including permanent differences)(1)	(0.1)		(1.1)		(1.3)
	(3.6)	%	3.6	%	20.5	%

__________________

(1) Other is comprised of numerous items, none of which is individually or in the aggregate greater than 5% of income tax expense calculated at the statutory rate.

Schedule of Components of Deferred Tax Assets and Liabilities

Differences between financial accounting principles and tax laws cause differences between the bases of certain assets and liabilities for financial reporting purposes and tax purposes. The tax effects of these differences, to the extent they are temporary, are recorded as deferred tax assets and liabilities which are presented in the table below.


	January 28, 2023		January 29, 2022
Deferred tax asset:
Inventory	$	6.8	$	8.6
Deferred rents	1.0		0.9
Operating lease liabilities	162.9		180.0
Stock-based compensation	10.0		4.7
Net operating losses and other loss carryforwards	280.7		219.8
Customer liabilities	34.3		15.1
Credits	25.2		25.1
Accrued compensation	6.4		9.3
Intangible assets	13.9		25.5
Goodwill	0.7		0.9
Other	48.4		48.1
Total deferred tax assets	590.3		538.0
Valuation allowance	(408.5)		(338.3)
Total deferred tax assets, net	181.8		199.7
Deferred tax liabilities:
Property and equipment	(4.8)		(5.4)
Prepaid expenses	(0.2)		(0.9)
Operating lease right-of-use assets	(157.8)		(177.1)
Other	(0.8)		—
Total deferred tax liabilities	(163.6)		(183.4)
Net deferred tax assets	$	18.2	$	16.3
The above amounts are reflected in the consolidated financial statements as:
Deferred income taxes - assets	$	18.3	$	16.3
Deferred income taxes - liabilities	$	—	$	—

Schedule of Reconciliation of Changes in Gross Balances of Unrecognized Tax Benefits

The following table presents a reconciliation of the changes in the gross balances of unrecognized tax benefits:


	Fiscal
	2022		2021		2020
Beginning balance of unrecognized tax benefits	$	9.1	$	5.7	$	6.5
Increases related to current period tax positions	0.1		4.0		—
Increases related to prior period tax positions	1.6		0.7		1.2

Reductions as a result of a lapse of the applicable statute of limitations	(1.3)		(0.8)		(0.6)
Reductions as a result of settlements with taxing authorities	—		(0.5)		(1.4)
Ending balance of unrecognized tax benefits	$	9.5	$	9.1	$	5.7

Summary of Significant Accounting Policies

12 Months Ended

Jan. 28, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Cash and Cash Equivalents and Restricted Cash

Our cash and cash equivalents are carried at fair value and consist primarily of cash, money market funds, cash deposits with commercial banks, U.S. government bonds and notes, and highly rated direct short-term instruments that mature in 90 days or less. Such investments with an original maturity of 90 days or less are classified as cash and cash equivalents on our Consolidated Balance Sheets. Restricted cash consists primarily of bank deposits that collateralize our obligations to vendors and landlords.

The following table presents a reconciliation of cash, cash equivalents and restricted cash in our Consolidated Balance Sheets to total cash, cash equivalents and restricted cash in our Consolidated Statements of Cash Flows:


	2022		2021
Cash and cash equivalents	$	1,139.0	$	1,271.4
Restricted cash(1)	41.3		33.1
Long-term restricted cash(2)	15.7		15.4
Total cash, cash equivalents and restricted cash	$	1,196.0	$	1,319.9

_________________________________________________

(1) Recognized in prepaid expenses and other current assets on our Consolidated Balance Sheets.

(2) Recognized in other noncurrent assets on our Consolidated Balance Sheets.

Investments

We generally invest our excess cash in highly-rated money market funds and investment grade short-term fixed income securities, which consist of U.S. government and agency securities. Such investments with an original maturity in excess of 90 days and less than one year are classified as marketable securities on our Consolidated Balance Sheets.

Our investments are classified as available-for-sale debt securities and reported at fair value. Unrealized holding gains and losses are recognized in accumulated other comprehensive loss on our Consolidated Balance Sheets. Realized gains and losses upon sale or extinguishment are reported in interest (income) expense and other, net in our Consolidated Statements of Operations. Each reporting period, we evaluate whether declines in fair value below carrying value are due to expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs.

Merchandise Inventories

Our merchandise inventories are carried at the lower of cost or market generally using the average cost method. Under the average cost method, as new product is received from vendors, its current cost is added to the existing cost of product on-hand and this amount is re-averaged over the cumulative units. Pre-owned gaming systems and other products traded in by customers are recorded as inventory at the amount of the store credit given to the customer. We are required to make adjustments to inventory to reflect potential obsolescence or over-valuation as a result of cost exceeding market. In valuing inventory, we consider quantities on hand, recent sales, potential price protections, returns to vendors and other factors. Our ability to assess these factors is dependent upon our ability to forecast customer demand and to provide a well-balanced merchandise assortment. Inventory is adjusted based on anticipated physical inventory losses or shrinkage and actual losses resulting from periodic physical inventory counts. Inventory reserves as of January 28, 2023 and January 29, 2022 were $46.7 million and $34.6 million, respectively.

Property and Equipment

Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation on fixtures and equipment is computed using the straight-line method over their estimated useful lives. Maintenance and repairs are expensed as incurred, while improvements and major remodeling costs are capitalized. Leasehold improvements are capitalized and amortized over the shorter of their estimated useful lives or the terms of the respective leases, which includes reasonably certain renewal options. Costs incurred in purchasing or developing management information systems are capitalized and included in fixtures and equipment. These costs are amortized over their estimated useful lives from the date the technology becomes operational. We periodically review our property and equipment when events or changes in circumstances indicate that its carrying amounts may not be recoverable or its depreciation or amortization periods should be accelerated. We assess recoverability based on several factors, including our intention with respect to our stores and those stores' projected undiscounted cash flows. An impairment loss is recognized for the amount by which the carrying amount of the assets exceeds its fair value, determined based on an estimate of discounted future cash flows or readily available market information for similar assets.

Assets Held for Sale

We consider assets to be held for sale when management, with appropriate authority, approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer has been initiated, the sale of the assets is probable and expected to be completed within one year, and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, we record the assets at the lower of their carrying value or their estimated fair value, reduced for the cost to dispose the assets.

Intangible Assets

Indefinite-lived intangible assets are expected to contribute to cash flows indefinitely and, therefore, are not subject to amortization but are required to be evaluated at least annually for impairment. If the carrying value of an individual indefinite-lived intangible asset exceeds its fair value, such individual indefinite-lived intangible asset is impaired by the amount of the excess. We test our indefinite-lived intangible assets on an annual basis during the fourth quarter or when circumstances indicate the carrying value might be impaired. Our indefinite-lived intangible assets consist of digital assets and trade names.

Digital Assets

We account for digital assets in accordance with ASC 350, Intangibles-Goodwill and Other (Topic 350). Our digital assets are initially recorded at cost. Accordingly, if the fair market value at any point during the reporting period is lower than the carrying value, an impairment loss equal to the difference will be recognized in selling, general, and administrative ("SG&A") expenses in our Consolidated Statement of Operations. This new cost basis will not be adjusted upward for any subsequent increase in fair value. Gains or losses on the sale of digital assets, if any, will be recognized based on the fair value upon sale or disposal of the assets in SG&A expenses in our Consolidated Statement of Operations. See Note 11, "Intangible Assets" for additional information.

Trade Names

The fair value of our trade names are estimated by using a relief-from-royalty approach, which assumes the value of the trade name is the discounted cash flows of the amount that would be paid by a hypothetical market participant had they not owned the trade name and instead licensed the trade name from another company. As a result of our annual impairment testing in fiscal 2020, we recognized impairment charges of $1.1 million associated with our trade names. We recognized no impairment charges during fiscal 2022 and 2021. See Note 11, "Intangible Assets" for additional information.

Definite-lived Intangible Assets

Our definite-lived intangible assets consist primarily of leasehold rights. The estimated useful life and amortization methodology of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows. Intangible assets that are determined to have a definite life are amortized over the life of the asset.

Revenue Recognition

We recognize revenue when performance obligations are satisfied by transferring goods or services to the customer in an amount that we expect to collect in exchange for those goods or services. The satisfaction of a performance obligation with a single customer may occur at a point in time or may occur over time. The significant majority of our revenue is recognized at a point in time, generally when a customer purchases and takes possession of merchandise through our stores or when merchandise purchased through our ecommerce platforms is delivered to a customer. We have arrangements with customers where our performance obligations are satisfied over time, which primarily relate to extended warranties and our Game Informer® magazine. In arrangements where we have multiple performance obligations, the transaction price is allocated to each performance obligation based on their relative stand-alone selling price (see "Loyalty Program").

Revenue is recognized net of sales discounts and net of an estimated sales return reserve. Our sales return policy is generally limited to 30 days or less and as such our sales returns are, and historically have been, immaterial. Revenues do not include sales taxes or other taxes collected from customers.

Advertising revenues for Game Informer® are recorded upon release of magazines for sale to consumers. Subscription revenues for our PowerUp Rewards® loyalty program and magazines are recognized on a straight-line basis over the subscription period. Revenue from the sales of product replacement plans is recognized on a straight-line basis over the coverage period. Customer liabilities and other deferred revenues for our PowerUp Rewards® loyalty program, gift cards, customer credits, magazines and product replacement plans are included in accrued liabilities and other current liabilities on our Consolidated Balance Sheets.

We also sell a variety of digital products which generally allow consumers to download software or play games on the internet. The significant majority of the digital products we sell are unbundled and do not require us to purchase inventory or take physical possession of, or take title to, inventory. When purchasing these products from us, consumers pay a retail price and we earn a commission based on a percentage of the retail sale as negotiated with the digital product publisher. We recognize the sale of these digital products on a net basis, whereby the commissions earned are recorded as revenue.

Loyalty Program

Our PowerUp Rewards® loyalty program allows paid members to earn points on purchases that can be redeemed for rewards that include discounts or coupons. When loyalty program members purchase our product, we allocate the transaction price between the product and loyalty points earned based on the relative stand-alone selling prices and expected point redemption. The portion allocated to the loyalty points is initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration.

The two primary estimates utilized to record the deferred revenue for loyalty points earned by members are the estimated retail price per point and estimated breakage. The estimated retail price per point is based on the actual historical retail prices of product purchased through the redemption of loyalty points. We estimate breakage of loyalty points based on historical redemption rates. We continually evaluate our methodology and assumptions based on developments in retail price per point redeemed, redemption patterns and other factors. Changes in the retail price per point and redemption rates have the effect of either increasing or decreasing the deferred revenue liability through current period revenue by an amount estimated to represent the retail value of all points previously earned but not yet redeemed by loyalty program members as of the end of the reporting period. The cost of administering the loyalty program, including program administration fees, program communications and cost of loyalty cards, is recognized in SG&A expenses in our Consolidated Statement of Operations.

Customer Liabilities

We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed. In addition, we recognize breakage in revenue upon redemption and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. To the extent that future redemption patterns differ from those historically experienced, there will be variations in the recorded breakage.

Vendor Arrangements

We participate in vendor cooperative advertising programs and other vendor marketing programs in which vendors provide us with cash consideration in exchange for marketing and advertising the vendors’ products. Our accounting for cooperative advertising arrangements and other vendor marketing programs results in a significant portion of the consideration received from our vendors reducing the product costs in inventory rather than as an offset to our marketing and advertising costs. The consideration serving as a reduction in inventory is recognized in cost of sales as inventory is sold. The amount of vendor allowances to be recorded as a reduction of inventory is determined based on the nature of the consideration received and the merchandise inventory to which the consideration relates. We apply a sell-through rate to determine the timing in which the consideration should be recognized in cost of sales. Consideration received that relates to gaming products that have not yet been released to the public is deferred as a reduction of inventory.

The cooperative advertising programs and other vendor marketing programs generally cover a period from a few days up to a few weeks and include items such as product catalog advertising, in-store display promotions, internet advertising, co-op print advertising and other programs. The allowance for each event is negotiated with the vendor and requires specific performance by us to be earned. Vendor allowances of $70.3 million, $71.7 million and $72.5 million were recorded as a reduction of cost of sales for fiscal 2022, 2021 and 2020, respectively, in our Consolidated Statements of Operations.

Cost of Sales and Selling, General, and Administrative Expenses Classification

The classification of cost of sales and SG&A expenses varies across the retail industry. We include certain purchasing, receiving and distribution costs in SG&A in the Consolidated Statements of Operations. We include processing fees associated with purchases made by credit cards and other payment methods in cost of sales in our Consolidated Statements of Operations.

Advertising Expenses

We expense advertising costs for television, print, digital advertising, and other media when the advertising takes place. Advertising expenses for fiscal 2022, 2021 and 2020 totaled $75.0 million, $93.6 million, and $58.4 million, respectively.

Income Taxes

Income tax expense includes federal, state, local and international income taxes. Income taxes are accounted for utilizing an asset and liability approach and deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the financial reporting basis and the tax basis of existing assets and liabilities using enacted tax rates. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to

taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. In accordance with GAAP, we maintain liabilities for uncertain tax positions until examination of the tax year is completed by the applicable taxing authority, available review periods expire or additional facts and circumstances cause us to change our assessment of the appropriate accrual amount. See Note 15, "Income Taxes," for additional information.

We do not assert indefinite reinvestment on the undistributed earnings of our foreign subsidiaries. Income tax and/or withholding tax associated with any amounts available for distribution as of January 28, 2023 is not expected to be material to our financial statements.

Leases

We conduct the substantial majority of our business with leased real estate properties, including retail stores, warehouse facilities and office space. We also lease certain equipment and vehicles. These are generally leased under non-cancelable agreements and include various renewal options for additional periods. These agreements generally provide for minimum, and in some cases, percentage rentals, and require us to pay insurance, taxes and other maintenance costs. Percentage rentals are based on sales performance in excess of specified minimums at various stores and are accounted for in the period in which the amount of percentage rentals can be accurately estimated. All of our lease agreements are classified as operating leases.

We determine if an arrangement is considered a lease at inception. We recognize ROU assets, on the commencement date based on the present value of future minimum lease payments over the lease term, including reasonably certain renewal options. As the rate implicit in the lease is not readily determinable for most leases, we utilize our incremental borrowing rate ("IBR") to determine the present value of future payments. The incremental borrowing rate represents a significant judgment that is based on an analysis of our credit rating, country risk, corporate bond yields and the effect of collateralization. For our real estate leases, we do not separate the components of a contract, thus our future payments include minimum rent payments and fixed executory costs. For our non-real estate leases, future payments include only fixed minimum rent payments. We record the amortization of our ROU assets and the accretion of our lease liabilities as a single lease cost on a straight-line basis over the lease term, which includes option terms we are reasonably certain to exercise. We recognize our cash or lease incentives as a reduction to the ROU asset. We assess ROU assets for impairment in accordance with our long-lived asset impairment policy, which is performed periodically or when events or changes in circumstances indicate that the carrying amount may not be recoverable.

Foreign Currency

Generally, we have determined that the functional currencies of our foreign subsidiaries are the subsidiaries’ local currencies. The assets and liabilities of the subsidiaries are translated into U.S. dollars at the applicable exchange rate as of the end of the balance sheet date and revenue and expenses are translated into U.S. dollars at an average rate over the period. Currency translation adjustments are recorded as a component of other comprehensive income in our Consolidated Statement of Comprehensive Loss. Currency translation adjustments related to divested foreign businesses are reclassified into earnings as a component of SG&A in our Consolidated Statements of Operations once the liquidation of the respective foreign businesses is substantially complete.

Transaction gains and losses arising from transactions denominated in nonfunctional currencies and derivatives resulted in net losses of $2.6 million, $3.4 million, and $1.0 million, for fiscal 2022, 2021 and 2020, respectively. These costs were recognized in SG&A expenses in our Consolidated Statements of Operations.

We use forward exchange contracts to manage currency risk primarily related to foreign-currency denominated intercompany assets and liabilities. The forward exchange contracts are not designated as hedges and, therefore, changes in the fair values of these derivatives are recognized in earnings, thereby offsetting the current earnings effect of the re-measurement of related intercompany loans. See Note 12, "Fair Value Measurements," for additional information regarding our forward exchange contracts.

Leases - Minimum Lease Obligations for Operating Lease Liabilities (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Leases [Abstract]
Fiscal 2023	$ 202.8
Fiscal 2024	159.9
Fiscal 2025	105.3
Fiscal 2026	70.9
Fiscal 2027	49.4
Thereafter	69.8
Total remaining lease payments	658.1
Less: Interest	(81.0)
Present value of lease liabilities	577.1
Current portion of operating lease liabilities	194.7	$ 210.7
Operating lease liabilities	$ 382.4	$ 393.7

Debt - Narrative (Details) € in Millions		3 Months Ended
Debt - Narrative (Details) € in Millions	Nov. 21, 2017	Jul. 31, 2021 EUR (€) loan	Jan. 28, 2023 USD ($)	Jan. 28, 2023 EUR (€)	Jan. 29, 2022 USD ($)	Jan. 29, 2022 EUR (€)	Nov. 30, 2021 USD ($)	May 01, 2021	Jan. 30, 2021 EUR (€) loan	Nov. 20, 2017 USD ($)
Debt Disclosure [Line Items]
Current portion of long-term debt			$ 10,800,000		$ 4,100,000
Letters of credit outstanding, amount			119,300,000
French Term Loans and Credit Facility \| Unsecured Debt
Debt Disclosure [Line Items]
Number of separate unsecured term loans \| loan									6
Debt instrument, face amount \| €									€ 40.0
Debt instrument, extension term		5 years
Debt instrument amount guaranteed by french government percent		90.00%
French term loans due July 2021 \| Unsecured Debt
Debt Disclosure [Line Items]
Number of separate unsecured term loans \| loan		3
Debt instrument, face amount \| €		€ 20.0
French term loans due July 2021 \| Unsecured Debt \| Maximum
Debt Disclosure [Line Items]
Interest rate		0.70%						0.00%
French term loans due October 2021 \| Unsecured Debt
Debt Disclosure [Line Items]
Number of separate unsecured term loans \| loan		3
Debt instrument, face amount \| €		€ 20.0
Interest rate		1.00%
French Term Loans \| Unsecured Debt
Debt Disclosure [Line Items]
Term loans			39,500,000	€ 36.3	$ 44,600,000	€ 40.0
Revolving Credit Facility 2026
Debt Disclosure [Line Items]
Line of credit, maximum borrowing capacity							$ 500,000,000
Remaining borrowing capacity			330,700,000
Line of Credit, Current			0
Letters of credit outstanding, amount			$ 119,300,000
Revolving Credit Facility 2026 \| Line of Credit \| Bridge Loan
Debt Disclosure [Line Items]
Line of credit, maximum borrowing capacity							50,000,000
Revolving Credit Facility 2026 \| Line of Credit \| Canadian Revolving
Debt Disclosure [Line Items]
Line of credit, maximum borrowing capacity							50,000,000
Revolving Credit Facility 2026 \| Line of Credit \| Revolving Credit Facility
Debt Disclosure [Line Items]
Line of credit, maximum borrowing capacity							$ 250,000,000
Commitment or the borrowing base, amount										$ 12,500,000
Lesser of the total commitment or the borrowing base, percentage										10.00%
Fixed charge coverage ratio	1.0
Revolving Credit Facility 2026 \| Line of Credit \| Minimum \| Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Disclosure [Line Items]
Interest rate margin							1.25%
Revolving Credit Facility 2026 \| Line of Credit \| Minimum \| Revolving Credit Facility \| Prime Rate
Debt Disclosure [Line Items]
Interest rate margin							0.25%
Revolving Credit Facility 2026 \| Line of Credit \| Maximum \| Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Disclosure [Line Items]
Interest rate margin							1.50%
Revolving Credit Facility 2026 \| Line of Credit \| Maximum \| Revolving Credit Facility \| Prime Rate
Debt Disclosure [Line Items]
Interest rate margin							0.50%

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Deferred tax asset:
Inventory	$ 6.8	$ 8.6
Deferred rents	1.0	0.9
Operating lease liabilities	162.9	180.0
Stock-based compensation	10.0	4.7
Net operating losses and other loss carryforwards	280.7	219.8
Customer liabilities	34.3	15.1
Credits	25.2	25.1
Accrued compensation	6.4	9.3
Intangible assets	13.9	25.5
Goodwill	0.7	0.9
Other	48.4	48.1
Total deferred tax assets	590.3	538.0
Valuation allowance	(408.5)	(338.3)
Total deferred tax assets, net	181.8	199.7
Deferred tax liabilities:
Property and equipment	(4.8)	(5.4)
Prepaid expenses	(0.2)	(0.9)
Operating lease right-of-use assets	(157.8)	(177.1)
Other	(0.8)	0.0
Total deferred tax liabilities	(163.6)	(183.4)
Net deferred tax assets	18.2	16.3
The above amounts are reflected in the consolidated financial statements as:
Deferred income taxes - assets	18.3	16.3
Other Noncurrent Liabilities
The above amounts are reflected in the consolidated financial statements as:
Deferred income taxes - liabilities	$ 0.0	$ 0.0

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Jan. 28, 2023	Mar. 22, 2023	Jul. 29, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jan. 28, 2023
Current Fiscal Year End Date	--01-28
Document Transition Report	false
Entity File Number	1-32637
Entity Registrant Name	GameStop Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2733559
Entity Address, Address Line One	625 Westport Parkway
Entity Address, Postal Zip Code	76051
Entity Address, City or Town	Grapevine,
Entity Address, State or Province	TX
City Area Code	817
Local Phone Number	424-2000
Title of 12(b) Security	Class A Common Stock
Trading Symbol	GME
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 9.1
Entity Common Stock, Shares Outstanding		304,675,439
Documents Incorporated by Reference	Portions of the definitive proxy statement of the registrant to be filed pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended, for the 2023 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001326380

Segment Information

12 Months Ended

Jan. 28, 2023

Segment Reporting [Abstract]

Segment Information

We operate our business in four geographic segments: United States, Canada, Australia and Europe.

We identified segments based on a combination of geographic areas and management responsibility. Segment results for the United States include retail operations in 50 states; our ecommerce website www.gamestop.com; Game Informer® magazine; and our digital asset wallet and NFT marketplace. The United States segment also includes general and administrative expenses related to our corporate headquarters in Grapevine, Texas. We measure segment profit using operating earnings, which is defined as income from continuing operations before net interest expense and income taxes. Transactions between reportable segments consist primarily of royalties, management fees, inter-segment loans and related interest. There were no material inter-segment sales during fiscal 2022, 2021 and 2020. Information on total assets by segment is not disclosed as such information is not used by our chief operating decision makers to evaluate segment performance or to allocate resources and capital.

The following table presents segment information:


	United States		Canada		Australia		Europe		Total
As of and for the Fiscal Year Ended January 28, 2023
Net sales	$	4,093.0	$	344.1	$	588.7	$	901.4	$	5,927.2
Operating (loss) earnings	(286.2)		(8.6)		13.8		(30.6)		(311.6)
Depreciation and amortization	40.6		4.1		6.7		10.3		61.7
Asset impairments	—		—		—		2.7		2.7
Capital expenditures	37.6		—		12.7		5.6		55.9
Property and equipment, net	83.3		3.7		20.9		28.6		136.5

As of and for the Fiscal Year Ended January 29, 2022
Net sales	$	4,186.5	$	332.3	$	591.8	$	900.1	$	6,010.7
Operating (loss) earnings	(358.1)		(1.1)		30.6		(39.9)		(368.5)
Depreciation and amortization	50.7		2.9		7.0		15.9		76.5
Asset impairments	0.2		—		—		6.5		6.7
Capital expenditures	42.3		3.1		9.4		7.2		62.0
Property and equipment, net	100.1		8.3		15.6		39.6		163.6

As of and for the Fiscal Year Ended January 30, 2021
Net sales	$	3,417.1	$	258.4	$	625.3	$	789.0	$	5,089.8
Operating (loss) earnings	(211.0)		(0.3)		52.2		(78.7)		(237.8)
Depreciation and amortization	51.2		3.1		7.6		18.1		80.0
Asset impairments	11.3		0.1		—		4.1		15.5
Capital expenditures	54.5		1.0		2.3		2.2		60.0
Property and equipment, net	125.2		8.2		14.8		53.0		201.2

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Summary of Significant Accounting Policies - Advertising Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Accounting Policies [Abstract]
Advertising expense	$ 75.0	$ 93.6	$ 58.4

Earnings Per Share

12 Months Ended

Jan. 28, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per ShareBasic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted-average number of common shares outstanding and potentially dilutive securities outstanding during the period. Potentially dilutive securities include unvested restricted stock and unvested restricted stock units outstanding during the period, using the treasury stock method. Potentially dilutive securities are excluded from the computations of diluted earnings per share if their effect would be antidilutive. A net loss from continuing operations causes all potentially dilutive securities to be antidilutive. We have certain undistributed stock awards that participate in dividends on a non-forfeitable basis, however, their impact on earnings per share under the two-class method is negligible.

The following is a reconciliation of shares used in calculating basic and diluted net income (loss) per common share:


	Fiscal
	2022	2021	2020
Weighted-average common shares outstanding	304.2	290.4	260.0
Dilutive effect of restricted stock units and restricted stock	—	—	—
Weighted-average diluted common shares	304.2	290.4	260.0

Anti-dilutive shares:
Restricted stock units	5.9	3.6	—
Restricted stock	0.3	1.6	6.4

Intangible Assets (Tables)

12 Months Ended

Jan. 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Accumulated Amortization of Our Intangible Assets

The following table presents the gross carrying amount and accumulated amortization of our intangible assets:


	January 28, 2023						January 29, 2022
	Gross Carrying Amount(1)		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets with indefinite lives:
Digital Assets	$	0.1	$	—	$	0.1	$	—	$	—	$	—
Trade names	5.1		—		5.1		5.3		—		5.3
Intangible assets with finite lives:
Leasehold rights	70.3		(67.9)		2.4		74.7		(67.9)		6.8
Other	21.3		(21.3)		—		31.7		(31.7)		—
Total	$	96.8	$	(89.2)	$	7.6	$	111.7	$	(99.6)	$	12.1

___________________

(1) The change in the gross carrying amount of intangible assets from January 29, 2022 to January 28, 2023 is due to the impact of exchange rate fluctuations.

Schedule of Estimated Aggregate Intangible Asset Amortization Expense

The following table presents the estimated aggregate intangible asset amortization expense for the next five fiscal years:


Period	Projected Amortization Expense
Fiscal 2023	$	1.1
Fiscal 2024	0.6
Fiscal 2025	0.4
Fiscal 2026	0.3
Fiscal 2027	0.1

Income Taxes - Reconciliation of Changes in Gross Balances of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance of unrecognized tax benefits	$ 9.1	$ 5.7	$ 6.5
Increases related to current period tax positions	0.1	4.0	0.0
Increases related to prior period tax positions	1.6	0.7	1.2
Reductions as a result of a lapse of the applicable statute of limitations	(1.3)	(0.8)	(0.6)
Reductions as a result of settlements with taxing authorities	0.0	(0.5)	(1.4)
Ending balance of unrecognized tax benefits	$ 9.5	$ 9.1	$ 5.7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Class A Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Loss)
Beginning balance (in shares) at Feb. 01, 2020		257.2
Beginning balance at Feb. 01, 2020	$ 611.5	$ 0.1	$ 0.0	$ (78.8)	$ 690.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(215.3)				(215.3)
Foreign currency translation	29.5			29.5
Stock-based compensation expense	7.9		7.9
Settlement of stock-based awards (in shares)		4.0
Settlement of stock-based awards	3.1		3.1
Ending balance (in shares) at Jan. 30, 2021		261.2
Ending balance at Jan. 30, 2021	436.7	$ 0.1	11.0	(49.3)	474.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(381.3)				(381.3)
Foreign currency translation	(19.4)			(19.4)
Stock-based compensation expense	30.5		30.5
Issuance of common stock, net of cost (in shares)		34.0
Issuance of common stock, net of cost	1,672.8		1,672.8
Settlement of stock-based awards (in shares)		8.4
Settlement of stock-based awards	(136.8)		(136.8)
Ending balance (in shares) at Jan. 29, 2022		303.6
Ending balance at Jan. 29, 2022	1,602.5	$ 0.1	1,577.5	(68.7)	93.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(313.1)				(313.1)
Foreign currency translation	(2.3)			(2.3)
Stock-based compensation expense	40.1		40.1
Settlement of stock-based awards (in shares)		1.0
Settlement of stock-based awards	(4.0)		(4.0)
Net change in unrealized loss on available-for-sale securities	(0.9)			(0.9)
Ending balance (in shares) at Jan. 28, 2023		304.6
Ending balance at Jan. 28, 2023	$ 1,322.3	$ 0.1	$ 1,613.6	$ (71.9)	$ (219.5)

Fair Value Measurements

12 Months Ended

Jan. 28, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Applicable accounting standards require disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. Each fair value measurement is reported in one of the following three levels:

•Level 1 inputs are quoted prices in active markets for identical assets or liabilities.

•Level 2 inputs are observable inputs other than quoted prices included in Level 1 for the asset or liability, either directly or indirectly through market-corroborated inputs.

•Level 3 inputs are unobservable inputs for the asset or liability reflecting our assumptions about pricing by market participants.

Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following tables presents our assets and liabilities measured at fair value on a recurring basis:


	January 28, 2023
		Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)		$	253.5	$	—	$	(0.9)	$	252.6
Level 2:
Foreign currency contracts(2)		—		—		—		—
Company-owned life insurance(3)		0.5		—		—		0.5
Total assets		$	254.0	$	—	$	(0.9)	$	253.1
Liabilities
Level 2:
Foreign currency contracts (4)		$	5.9	$	—	$	—	$	5.9
Nonqualified deferred compensation(4)		0.4		—		—		0.4
Total liabilities		$	6.3	$	—	$	—	$	6.3


	January 29, 2022
		Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)		$	—	$	—	$	—	$	—
Level 2:
Foreign currency contracts(2)		3.8		—		—		3.8
Company-owned life insurance(3)		0.6		—		—		0.6
Total assets		$	4.4	$	—	$	—	$	4.4
Liabilities
Level 2:
Foreign currency contracts (4)		$	0.4	$	—	$	—	$	0.4
Nonqualified deferred compensation(4)		0.6		—		—		0.6
Total liabilities		$	1.0	$	—	$	—	$	1.0

___________________

(1) Recognized in cash and cash equivalents and marketable securities on our Consolidated Balance Sheets.

(2) Recognized in prepaid expenses and other current assets on our Consolidated Balance Sheets.

(3) Recognized in other noncurrent assets on our Consolidated Balance Sheets.

(4) Recognized in accrued liabilities and other current liabilities on our Consolidated Balance Sheets.

In August 2022, the Company opened investment portfolios consisting of U.S. government treasury notes and bills in an aggregate amount of $250.0 million. These investments are classified as available-for-sale debt securities and reported at fair value on a recurring basis and utilize level 1 inputs for measurement. As of January 28, 2023, the investment portfolios aggregate balance was $252.6 million, of which $251.6 million are recognized in marketable securities and $1.0 million are recognized in cash and cash equivalents on our Consolidated Balance Sheets. There were no gross gains and no gross losses realized on sales of U.S. government Securities during fiscal 2022, 2021 and 2020.

Assets and liabilities that are measured at fair value on a recurring basis include our cash equivalents, marketable securities, foreign currency contracts, company-owned life insurance policies with a cash surrender value, and certain nonqualified deferred compensation liabilities.

We measure the fair value of cash equivalents and certain marketable securities based on quoted prices in active markets for identical assets or liabilities. Other marketable securities were valued either based on recent trades of securities in inactive markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data.

We measure the fair value of our foreign currency contracts, life insurance policies with cash surrender values and certain nonqualified deferred compensation liabilities based on Level 2 inputs using quotations provided by major market news services, such as Bloomberg, and industry-standard models that consider various assumptions, including quoted forward prices, time value, volatility factors, and contractual prices for the underlying instruments, and other relevant economic measures, all of which are observable in active markets. When appropriate, valuations are adjusted to reflect credit considerations, generally based on available market evidence.

Assets that are Measured at Fair Value on a Nonrecurring Basis

Assets that are measured at fair value on a nonrecurring basis relate primarily to property and equipment, operating lease right-of-use ("ROU") assets and other intangible assets, including digital assets, which are remeasured when the estimated fair value is below its carrying value. When we determine that impairment has occurred, the carrying value of the asset is reduced to its fair value. Fair value of digital assets held are based on Level 1 inputs, as described above, and impairment losses for digital assets cannot be recovered for any subsequent increase in fair value until the sale or disposal of the asset.

The fair value estimates of trade name intangibles and store-level property and equipment are based on significant unobservable inputs (Level 3) developed using company-specific information. These assets were valued using variations of the discounted cash flow method, which require assumptions associated with, among others, projected sales and cost estimates, capital expenditures, royalty rates, discount rates, terminal values and remaining useful lives.

The carrying values of our cash, restricted cash, net receivables, accounts payable and current portion of debt approximate their fair values due to their short-term maturities.

As of January 28, 2023, our government-subsidized low interest French term loans due October 2022 through October 2026 ("French Term Loans") had a carrying value of $39.5 million and a fair value of $33.1 million. The fair values of our French Term Loans were estimated based on a model that discounted future principal and interest payments at interest rates available to us at the end of the period for similar debt of the same maturity, which is a Level 2 input as defined by the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Current assets:
Cash and cash equivalents	$ 1,139.0	$ 1,271.4
Marketable securities	251.6	0.0
Receivables, net of allowance of $2.2 and $3.3, respectively	153.9	141.1
Merchandise inventories	682.9	915.0
Prepaid expenses and other current assets	96.3	271.3
Total current assets	2,323.7	2,598.8
Property and equipment, net	136.5	163.6
Operating lease right-of-use assets	560.8	586.6
Deferred income taxes	18.3	16.3
Other noncurrent assets	74.1	134.0
Total assets	3,113.4	3,499.3
Current liabilities:
Accounts payable	531.3	471.0
Accrued liabilities and other current liabilities	602.3	668.9
Current portion of operating lease liabilities	194.7	210.7
Current portion of long-term debt	10.8	4.1
Total current liabilities	1,339.1	1,354.7
Long-term debt	28.7	40.5
Operating lease liabilities	382.4	393.7
Other long-term liabilities	40.9	107.9
Total liabilities	1,791.1	1,896.8
Stockholders’ equity:
Class A common stock — $.001 par value; authorized 1,000 shares; 304.6 and 303.6 shares issued and outstanding, respectively	0.1	0.1
Additional paid-in capital	1,613.6	1,577.5
Accumulated other comprehensive loss	(71.9)	(68.7)
Retained (loss) earnings	(219.5)	93.6
Total stockholders' equity	1,322.3	1,602.5
Total liabilities and stockholders’ equity	$ 3,113.4	$ 3,499.3

Revenue - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Gift Cards Trade in Credits
Disaggregation of Revenue [Line Items]
Revenue recognized	$ (52.6)	$ 48.8
Minimum
Disaggregation of Revenue [Line Items]
Extended product warranty term	12 months
Maximum
Disaggregation of Revenue [Line Items]
Extended product warranty term	24 months

Leases (Tables)

12 Months Ended

Jan. 28, 2023

Leases [Abstract]

Schedule of Lease Cost

The following table presents rent expenses under operating leases:


	Fiscal
	2022		2021		2020
Operating lease cost	$	278.3	$	296.3	$	311.5
Variable lease cost (1)	64.3		64.1		79.2
Total rent expense	$	342.6	$	360.4	$	390.7

(1) Variable lease cost includes percentage rentals and variable executory costs.

The following table presents the weighted-average remaining lease term, which includes reasonably certain renewal options, and the weighted-average discount rate for operating leases included in the measurement of our lease liabilities:


	January 28, 2023		January 29, 2022
Weighted-average remaining lease term (years) (1)	4.3		4.2
Weighted-average discount rate (2)	5.7	%	4.3	%

(1) The weighted-average remaining lease term is weighted based on the lease liability balance for each lease as of January 28, 2023 and January 29, 2022. This weighted average calculation differs from our simple average remaining lease term due to the inclusion of reasonably certain renewal options and the effect of the lease liability value for longer term leases.

(2) The weighted-average discount rate weights the IBR determined for each lease based on each lease's respective liability balance as of January 28, 2023 and January 29, 2022.

Schedule of Operating Lease Liability

The following table presents expected lease payments associated with our operating lease liabilities, excluding percentage rentals, for the next five fiscal years:


Period	Operating Leases(1)
Fiscal 2023	$	202.8
Fiscal 2024	159.9
Fiscal 2025	105.3
Fiscal 2026	70.9
Fiscal 2027	49.4
Thereafter	69.8
Total remaining lease payments	658.1
Less: Interest	(81.0)
Present value of lease liabilities(2)	$	577.1

(1) Operating lease payments exclude legally binding lease payments for leases signed but not yet commenced.

(2) The present value of lease liabilities consist of $194.7 million classified as current portion of operating lease liabilities and $382.4 million classified as long-term operating lease liabilities on our Consolidated Balance Sheets.

Accounting Policies (Policies)	12 Months Ended
Accounting Policies (Policies)	Jan. 28, 2023
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain amounts presented in our prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported total assets.

Fair Value Measurements - Narrative (Details) € in Millions, $ in Millions	12 Months Ended
	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)	Jan. 28, 2023 EUR (€)	Jan. 29, 2022 EUR (€)
French Term Loans \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loans	$ 39.5	$ 44.6		€ 36.3	€ 40.0
Level 2: \| French Term Loans \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	33.1
US Treasury and Government \| Level 1:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment portfolio	252.6
US Treasury and Government \| Level 1: \| Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment portfolio	251.6
US Treasury and Government \| Level 1: \| Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment portfolio	1.0
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross gain (loss) realized on sales	$ 0.0	$ 0.0	$ 0.0

Leases - Rent Expense and Other Cost Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Leases [Abstract]
Operating lease cost	$ 278.3	$ 296.3	$ 311.5
Variable lease cost	64.3	64.1	79.2
Total rent expense	$ 342.6	$ 360.4	$ 390.7
Weighted-average remaining lease term (years)	4 years 3 months 18 days	4 years 2 months 12 days
Weighted-average discount rate	5.70%	4.30%

Leases - Narrative (Details) $ in Millions	1 Months Ended				12 Months Ended
Leases - Narrative (Details) $ in Millions	Jul. 31, 2021	Sep. 30, 2020 USD ($)	Aug. 31, 2020 USD ($)	Jul. 31, 2020 USD ($) renewal_option	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Letters of credit outstanding, amount					$ 119.3
Gain on sale of assets					0.0	$ 0.0	$ 32.4
Impairment charges					$ 0.1	1.3
Australian Headquarters in Eagle Farm, Queensland
Lessee, Lease, Description [Line Items]
Sale and leaseback transaction, gain (loss), net			$ 27.0
Sale lease back transaction initial lease terms			10 years
Sale lease back transaction initial annual base rent			$ 1.7
Canadian Headquarters In Brampton Ontario
Lessee, Lease, Description [Line Items]
Sale and leaseback transaction, gain (loss), net		$ 16.7
Sale lease back transaction initial lease terms		5 years
Sale lease back transaction initial annual base rent		$ 0.9
Corporate Headquarters
Lessee, Lease, Description [Line Items]
Sale and leaseback transaction, gain (loss), net				$ 28.5
Initial term				10 years
Number of renewal options \| renewal_option				3
Renewal term				5 years
Annual rent				$ 1.7
Annual base rent percent increase				2.25%
Sale leaseback, provide letter of credit to the buyer-lessor from closing date, period				18 months
Reduction in purchase price from deferred issuance of letter of credit				$ 2.8
Letters of credit outstanding, amount						$ 2.8
Office Space and Refurbishment Center
Lessee, Lease, Description [Line Items]
Sale and leaseback transaction, gain (loss), net				$ 15.2
Initial term				2 years
Renewal term	5 years
Extension term	3 years

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (313.1)	$ (381.3)	$ (215.3)
Other comprehensive loss:
Foreign currency translation adjustments	(2.3)	(19.4)	29.5
Net change in unrealized loss on available-for-sale securities	(0.9)	0.0	0.0
Total comprehensive loss	$ (316.3)	$ (400.7)	$ (185.8)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Earnings Per Share - Reconciliation of Common Shares Used in Calculating Basic and Diluted Net Income (Loss) Per Common Share (Details) - shares shares in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average common shares outstanding (in shares)	304.2	290.4	260.0
Dilutive effect of restricted stock units and restricted stock (in shares)	0.0	0.0	0.0
Weighted-average diluted common shares (in shares)	304.2	290.4	260.0
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock options and restricted stock awards (in shares)	5.9	3.6	0.0
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock options and restricted stock awards (in shares)	0.3	1.6	6.4

Summary of Significant Accounting Policies - Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Accounting Policies [Abstract]
Intangible asset impairment charges	$ 0.0	$ 0.0	$ 1.1

Intangible Assets

12 Months Ended

Jan. 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

The following table presents the gross carrying amount and accumulated amortization of our intangible assets:


	January 28, 2023						January 29, 2022
	Gross Carrying Amount(1)		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets with indefinite lives:
Digital Assets	$	0.1	$	—	$	0.1	$	—	$	—	$	—
Trade names	5.1		—		5.1		5.3		—		5.3
Intangible assets with finite lives:
Leasehold rights	70.3		(67.9)		2.4		74.7		(67.9)		6.8
Other	21.3		(21.3)		—		31.7		(31.7)		—
Total	$	96.8	$	(89.2)	$	7.6	$	111.7	$	(99.6)	$	12.1

___________________

(1) The change in the gross carrying amount of intangible assets from January 29, 2022 to January 28, 2023 is due to the impact of exchange rate fluctuations.

Indefinite-lived Intangible Assets

Digital Assets

In January 2022, we entered into contractual agreements with Immutable X Pty Limited (“IMX”) and Digital Worlds NFTs Ltd. pursuant to which the Company was entitled to receive up to $150 million in digital assets in the form of IMX tokens once certain contractual milestones have been achieved. Upon announcement, we achieved our first milestone under the agreement with IMX and recognized a $79.0 million noncurrent receivable and corresponding deferred income liability related to our entitlement of IMX tokens as of January 29, 2022. During fiscal 2022, we achieved our second and third milestones under our agreement with IMX, and recognized an additional $33.8 million of deferred income liability on our Consolidated Balance Sheet. The deferred income is recognized over the term of the contractual agreement. We liquidated all tokens received during fiscal 2022 and have no IMX token assets recorded on the Consolidated Balance Sheet at January 28, 2023. During fiscal 2022 we also recognized a loss of $7.2 million on the noncurrent receivable, impairment of $33.7 million on the digital assets, gain of $6.9 million on the sale of digital assets, and deferred income of $56.0 million in SG&A expenses in our Consolidated Statements of Operations. As of January 28, 2023, remaining deferred income liability related to our partnership with IMX was $57.3 million in accrued liabilities and other current liabilities on our Consolidated Balance Sheets.

During 2022, we also launched beta versions of a non-custodial digital asset wallet and a peer-to-peer non-fungible token ("NFT") marketplace that enables the purchases, sales, and trades of NFTs. Revenues earned related to our NFT digital asset wallet and marketplace are recognized in net sales in our Consolidated Statement of Operations. Revenues earned from our digital asset wallet and NFT marketplace were not material to the consolidated financial statements for fiscal 2022.

Trade Names

Our trade names consisted of Micromania, our retail operations business in France, which we acquired in 2008; and formerly ThinkGeek, a collectibles retailer, which we acquired in 2015. We no longer operate stores under the ThinkGeek brand. As a result of an impairment test performed during fiscal 2020, we recognized an impairment charge of $0.6 million and $0.5 million and related to our Micromania and ThinkGeek trade names, respectively. There were no impairment charges recognized during fiscal 2022 or 2021.

Finite-lived Intangible Assets

Leasehold rights, the majority of which were recorded as a result of the purchase of SFMI Micromania SAS (“Micromania”) in 2008, represent the value of rights of tenancy under commercial property leases for properties located in France. Rights pertaining to individual leases can be sold by us to a new tenant or recovered by us from the landlord if the exercise of the automatic right of renewal is refused. Leasehold rights are amortized on a straight-line basis over the expected lease term, not to exceed 20 years, with no residual value.

Other intangible assets include design portfolio and favorable leasehold interests. The design portfolio reflects the collection of product designs and ideas that were created by Geeknet and recorded as a result of the Geeknet acquisition, which have been fully amortized. Favorable leasehold interests represent the value of the contractual monthly rental payments that are less than the current market rent at stores acquired as part of the Micromania acquisition. Favorable leasehold interests are amortized on a straight-line basis over their remaining lease term with no expected residual value. As of January 28, 2023, these amounts have been fully amortized.

As of January 28, 2023, the total weighted-average amortization period for our finite-lived intangible assets was approximately 7 years. The intangible assets are being amortized based upon the pattern in which the economic benefits of the intangible assets are being utilized, with no expected residual value.

Intangible asset amortization expense during fiscal 2022, 2021 and 2020 was $1.4 million, $3.6 million and $4.0 million, respectively. The following table presents the estimated aggregate intangible asset amortization expense for the next five fiscal years:


Period	Projected Amortization Expense
Fiscal 2023	$	1.1
Fiscal 2024	0.6
Fiscal 2025	0.4
Fiscal 2026	0.3
Fiscal 2027	0.1

Fair Value Measurements (Tables)

12 Months Ended

Jan. 28, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following tables presents our assets and liabilities measured at fair value on a recurring basis:


	January 28, 2023
		Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)		$	253.5	$	—	$	(0.9)	$	252.6
Level 2:
Foreign currency contracts(2)		—		—		—		—
Company-owned life insurance(3)		0.5		—		—		0.5
Total assets		$	254.0	$	—	$	(0.9)	$	253.1
Liabilities
Level 2:
Foreign currency contracts (4)		$	5.9	$	—	$	—	$	5.9
Nonqualified deferred compensation(4)		0.4		—		—		0.4
Total liabilities		$	6.3	$	—	$	—	$	6.3


	January 29, 2022
		Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)		$	—	$	—	$	—	$	—
Level 2:
Foreign currency contracts(2)		3.8		—		—		3.8
Company-owned life insurance(3)		0.6		—		—		0.6
Total assets		$	4.4	$	—	$	—	$	4.4
Liabilities
Level 2:
Foreign currency contracts (4)		$	0.4	$	—	$	—	$	0.4
Nonqualified deferred compensation(4)		0.6		—		—		0.6
Total liabilities		$	1.0	$	—	$	—	$	1.0

___________________

(1) Recognized in cash and cash equivalents and marketable securities on our Consolidated Balance Sheets.

(2) Recognized in prepaid expenses and other current assets on our Consolidated Balance Sheets.

(3) Recognized in other noncurrent assets on our Consolidated Balance Sheets.

(4) Recognized in accrued liabilities and other current liabilities on our Consolidated Balance Sheets.

Associates' Defined Contribution Plan - (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Retirement Benefits [Abstract]
Percentage of eligible gross cash compensation employees are allowed to invest in the savings plan	60.00%
Contributions to the Savings Plan	$ 3.9	$ 4.5	$ 5.6

Common Stock and Share-Based Compensation - Summary of Restricted Stock Awards (Details) - $ / shares	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Restricted stock
Shares
Nonvested shares at beginning of period (in shares)	782,444
Granted (in shares)	0	742,972	8,272,704
Vested (in shares)	(410,412)
Forfeited (in shares)	(92,012)
Nonvested shares at end of period (in shares)	280,020	782,444
Weighted- Average Grant Date Fair Value
Nonvested shares at beginning of period (in dollars per share)	$ 16.29
Granted (in dollars per share)	0	$ 29.42	$ 1.16
Vested (in dollars per share)	6.70
Forfeited (in dollars per share)	37.43
Nonvested shares at end of period (in dollars per share)	$ 23.40	$ 16.29
Performance Shares
Shares
Nonvested shares at beginning of period (in shares)	772,540
Granted (in shares)	0	0	2,006,448
Vested (in shares)	0
Forfeited (in shares)	(772,540)
Nonvested shares at end of period (in shares)	0	772,540
Weighted- Average Grant Date Fair Value
Nonvested shares at beginning of period (in dollars per share)	$ 1.17
Granted (in dollars per share)	0		$ 1.15
Vested (in dollars per share)	0
Forfeited (in dollars per share)	1.17
Nonvested shares at end of period (in dollars per share)	$ 0	$ 1.17
Restricted stock units
Shares
Nonvested shares at beginning of period (in shares)	3,747,456
Granted (in shares)	5,536,250
Vested (in shares)	(221,687)
Forfeited (in shares)	(3,150,641)
Nonvested shares at end of period (in shares)	5,911,378	3,747,456
Weighted- Average Grant Date Fair Value
Nonvested shares at beginning of period (in dollars per share)	$ 44.56
Granted (in dollars per share)	31.43
Vested (in dollars per share)	42.77
Forfeited (in dollars per share)	39.84
Nonvested shares at end of period (in dollars per share)	$ 34.84	$ 44.56

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Cash flows from operating activities:
Net loss	$ (313.1)	$ (381.3)	$ (215.3)
Adjustments to reconcile net loss to net cash flows from operating activities:
Depreciation and amortization	61.7	77.2	80.7
Stock-based compensation expense	40.1	30.5	7.9
Gain on sale of digital assets	(7.2)	0.0	0.0
Digital asset impairments	34.0	0.0	0.0
Asset impairments	2.7	6.7	15.5
Loss (gain) on retirement of debt	0.0	18.2	(1.5)
Deferred income taxes	(2.6)	(16.3)	80.3
Loss (gain) on disposal of property and equipment, net	2.5	5.4	(27.3)
Other	1.2	(3.5)	2.4
Changes in operating assets and liabilities:
Receivables, net	(16.8)	(38.4)	39.8
Merchandise inventories	229.6	(329.6)	282.4
Prepaid expenses and other assets	(25.2)	(6.5)	8.4
Prepaid income taxes and income taxes payable	172.4	(21.7)	(87.0)
Accounts payable and accrued liabilities	(66.2)	224.4	(78.6)
Operating lease right-of-use assets and lease liabilities	(4.9)	(0.9)	19.0
Changes in other long-term liabilities	0.0	1.5	(3.0)
Net cash flows provided by (used in) operating activities	108.2	(434.3)	123.7
Cash flows from investing activities:
Capital expenditures	(55.9)	(62.0)	(60.0)
Purchases of marketable securities	(276.8)	0.0	0.0
Proceeds from maturities of marketable securities	27.5	0.0	0.0
Proceeds from sale of property and equipment	0.0	0.0	95.5
Proceeds from sale of digital assets	81.9	0.0	0.0
Other	0.6	(2.8)	1.4
Net cash flows (used in) provided by investing activities	(222.7)	(64.8)	36.9
Cash flows from financing activities:
Proceeds from issuance of common stock, net of costs	0.0	1,672.8	0.0
Net repayments of senior notes	0.0	(307.4)	(130.3)
Proceeds from French term loans	0.0	0.0	47.1
Repayments of French term loans	3.9	0.0	0.0
Dividends paid	0.0	0.0	(0.3)
Borrowings from the revolver	0.0	0.0	150.0
Repayments of revolver borrowings	0.0	(25.0)	(125.0)
Settlement of stock-based awards	(4.0)	(136.8)	3.1
Payments of financing costs	0.0	(3.0)	0.0
Net cash flows (used in) provided by financing activities	(7.9)	1,200.6	(55.4)
Exchange rate effect on cash, cash equivalents and restricted cash	(1.5)	(16.6)	16.3
(Decrease) increase in cash, cash equivalents and restricted cash	(123.9)	684.9	121.5
Cash, cash equivalents and restricted cash at beginning of period	1,319.9	635.0	513.5
Cash, cash equivalents and restricted cash at end of period	1,196.0	1,319.9	635.0
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash received for interest income	8.2	0.0	1.4
Cash paid for interest	(2.6)	(18.3)	(32.8)
Interest Paid, Net Of Interest Received	5.6	(18.3)	(31.4)
Cash paid for income taxes	(13.5)	(21.4)	(8.3)
Cash tax refunds received	176.0	4.5	57.4
Cash refunded (paid) for income taxes, net	162.5	(16.9)	49.1
Cash paid for operating leases	(257.7)	(262.3)	(251.4)
Leased assets obtained in exchange for new operating lease liabilities	242.8	205.4	132.5
Non-cash investing and financing activities:
Accruals related to purchases of property and equipment	$ 1.1	$ 9.6	$ 5.1

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Statement of Financial Position [Abstract]
Receivables, net of allowances	$ 2.2	$ 3.3
Accumulated depreciation	$ 1,006.8	$ 1,029.8
Class A common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Class A common stock, shares authorized (in shares)	1,000.0	1,000.0
Class A common stock, shares issued (in shares)	304.6	303.6
Class A common stock, shares outstanding (in shares)	304.6	303.6

General Information	12 Months Ended
General Information	Jan. 28, 2023
Accounting Policies [Abstract]
General Information	General Information The Company GameStop Corp. ("GameStop," "we," "us," "our," or the "Company"), a Delaware corporation established in 1996, is a leading specialty retailer offering games and entertainment products through its thousands of stores and ecommerce platforms. We operate our business in four geographic segments: United States, Canada, Australia and Europe. The information contained in these consolidated financial statements refers to continuing operations unless otherwise noted. See Note 5, "Segment Information," for additional information. Basis of Presentation and Consolidation Our consolidated financial statements include our accounts and the accounts of our wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Consolidated Statements of Cash flows is presented on a combined basis for all periods presented and, therefore, does not segregate cash flows from continuing and discontinued operations. The information contained in these notes to our consolidated financial statements refers to continuing operations unless otherwise noted. Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2022 consisted of the 52 weeks ended on January 28, 2023 ("fiscal 2022"). Fiscal year 2021 consisted of the 52 weeks ended on January 29, 2022 ("fiscal 2021"). Fiscal year 2020 consisted of the 52 weeks ended on January 30, 2021 ("fiscal 2020"). Reclassifications Certain amounts presented in our prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported total assets. Stock Split On July 6, 2022, our Board of Directors declared a four-for-one stock split of our Class A common stock in the form of a stock dividend (the "Stock Split"). This dividend was distributed on July 21, 2022 to stockholders of record at the close of business on July 18, 2022. There was no net effect on total stockholders' equity, and the par value per share of our Class A stock remains unchanged at $0.001 per share after the Stock Split. All references made to share or per share amounts in the accompanying consolidated financial statements and applicable disclosures have been retroactively adjusted to reflect the effects of the Stock Split. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the 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. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates.

Audit Information	12 Months Ended
Audit Information	Jan. 28, 2023
Audit Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Dallas, Texas
Auditor Firm ID	34

Income Taxes

12 Months Ended

Jan. 28, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The following table presents the (benefit) provision for income taxes from continuing operations:


	Fiscal
	2022		2021		2020
Current tax (benefit) expense:
Federal	$	(2.1)	$	(13.2)	$	(154.9)
State	4.0		7.6		(1.5)
Foreign	11.7		7.8		18.8
	13.6		2.2		(137.6)
Deferred tax (benefit) expense:
Federal	—		—		45.5
State	—		—		7.6
Foreign	(2.6)		(16.3)		29.2
	(2.6)		(16.3)		82.3
Total income tax expense (benefit)	$	11.0	$	(14.1)	$	(55.3)

The following table presents the components of loss from continuing operations before income taxes:


	Fiscal
	2022		2021		2020
United States	$	(272.7)	$	(362.7)	$	(224.6)
International	(29.4)		(32.7)		(45.3)
Total	$	(302.1)	$	(395.4)	$	(269.9)


	Fiscal
	2022		2021		2020
Federal statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal effect	2.3		3.1		5.0
Foreign income tax rate differential	0.2		0.4		(3.9)
Change in valuation allowance	(27.2)		(33.6)		(41.8)
Change in unrecognized tax benefits	(0.4)		(1.4)		—
Withholding tax expense	(0.3)		(0.3)		(0.3)
Stock-based compensation	(0.2)		6.4		—
U.S. impact of foreign operations	—		—		7.6
Incremental benefit of net operating loss carryback	1.1		3.6		23.5
Loss on worthless debt and related investment	—		5.5		10.7
Other (including permanent differences)(1)	(0.1)		(1.1)		(1.3)
	(3.6)	%	3.6	%	20.5	%

__________________

(1) Other is comprised of numerous items, none of which is individually or in the aggregate greater than 5% of income tax expense calculated at the statutory rate.


	January 28, 2023		January 29, 2022
Deferred tax asset:
Inventory	$	6.8	$	8.6
Deferred rents	1.0		0.9
Operating lease liabilities	162.9		180.0
Stock-based compensation	10.0		4.7
Net operating losses and other loss carryforwards	280.7		219.8
Customer liabilities	34.3		15.1
Credits	25.2		25.1
Accrued compensation	6.4		9.3
Intangible assets	13.9		25.5
Goodwill	0.7		0.9
Other	48.4		48.1
Total deferred tax assets	590.3		538.0
Valuation allowance	(408.5)		(338.3)
Total deferred tax assets, net	181.8		199.7
Deferred tax liabilities:
Property and equipment	(4.8)		(5.4)
Prepaid expenses	(0.2)		(0.9)
Operating lease right-of-use assets	(157.8)		(177.1)
Other	(0.8)		—
Total deferred tax liabilities	(163.6)		(183.4)
Net deferred tax assets	$	18.2	$	16.3
The above amounts are reflected in the consolidated financial statements as:
Deferred income taxes - assets	$	18.3	$	16.3
Deferred income taxes - liabilities	$	—	$	—

During fiscal 2022, we increased our valuation allowances by approximately $70.2 million in various jurisdictions where it was determined that it was more likely than not that existing gross and/or net deferred tax assets would not be realized, primarily due to cumulative losses in those jurisdictions. As of January 28, 2023, we maintain full valuation allowances on our deferred tax assets in all jurisdictions except for Australia and New Zealand. We will continue to assess the realizability of our gross and net deferred tax assets in all tax jurisdictions in which we do business in future periods.

With respect to state and local jurisdictions and countries outside of the United States, we and our subsidiaries are typically subject to examination for three years to six years after the income tax returns have been filed. Although the outcome of tax audits is always uncertain, we believe that adequate amounts of tax, interest and penalties have been provided for in the accompanying consolidated financial statements for any adjustments that might be incurred due to state, local or foreign audits.

As of January 28, 2023, we have approximately $7.0 million of net operating loss carryforwards in various foreign jurisdictions that expire in years 2027 through 2042, as well as $419.7 million of foreign net operating loss carryforwards that have no expiration date. In addition, we have approximately $22.2 million of foreign tax credit carryforwards that expire in years 2024 through 2027. We also have approximately $53.0 million of U.S. federal net operating loss carryovers acquired through the ThinkGeek acquisition that will expire in years 2023 through 2034. Section 382 under the Internal Revenue Code imposes limits on the amount of tax attributes that can be utilized where there has been an ownership change. The federal and state net operating loss carryovers acquired through the ThinkGeek acquisition experienced an ownership change on July 17, 2015, and we have determined that these net operating loss carryforwards will be subject to future limitation. During fiscal 2022, we received a $171.5 million U.S. federal income tax refund resulting from the

carryback of net operating losses allowed pursuant to the CARES Act. Income tax receivable is recognized in prepaid expenses and other current assets on our Consolidated Balance Sheets.

As of January 28, 2023, the gross amount of unrecognized tax benefits was approximately $9.5 million. If we were to prevail on all uncertain tax positions, the net effect would be a benefit to our effective tax rate of approximately $9.5 million, exclusive of any benefits related to interest and penalties.

The following table presents a reconciliation of the changes in the gross balances of unrecognized tax benefits:


	Fiscal
	2022		2021		2020
Beginning balance of unrecognized tax benefits	$	9.1	$	5.7	$	6.5
Increases related to current period tax positions	0.1		4.0		—
Increases related to prior period tax positions	1.6		0.7		1.2

Reductions as a result of a lapse of the applicable statute of limitations	(1.3)		(0.8)		(0.6)
Reductions as a result of settlements with taxing authorities	—		(0.5)		(1.4)
Ending balance of unrecognized tax benefits	$	9.5	$	9.1	$	5.7

We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense in our Consolidated Statement of Operations. As of January 28, 2023, January 29, 2022, and January 30, 2021, we had approximately $3.7 million, $3.8 million and $3.4 million, respectively, in interest and penalties related to unrecognized tax benefit accrued, of which approximately $0.1 million of benefit, $0.4 million of expense and $0.6 million of expense were recognized through income tax expense in fiscal 2022, 2021 and 2020, respectively. If we were to prevail on all uncertain tax positions, the reversal of these accruals related to interest and penalties would also be a benefit to our effective tax rate.

It is reasonably possible that the amount of the unrecognized benefit with respect to certain of our unrecognized tax positions could significantly increase or decrease within the next 12 months as a result of settling ongoing audits. However, as audit outcomes and the timing of audit resolutions are subject to significant uncertainty and given the nature and complexity of the issues involved, we are unable to reasonably estimate the possible amount of change in the unrecognized tax benefits, if any, that may occur within the next 12 months as a result of ongoing examinations. Nevertheless, we believe we are adequately reserved for our uncertain tax positions as of January 28, 2023.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Fair Value Measurements - Fair Value of Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Millions	Jan. 28, 2023	Aug. 31, 2022	Jan. 29, 2022
Assets
Adjusted Cost	$ 254.0		$ 4.4
Unrealized Gains	0.0		0.0
Unrealized Losses	(0.9)		0.0
Fair Value	253.1		4.4
Liabilities
Total liabilities	6.3		1.0
Level 1: \| U.S. government securities
Assets
Adjusted Cost	253.5		0.0
Unrealized Gains	0.0		0.0
Unrealized Losses	(0.9)		0.0
Fair Value	252.6	$ 250.0	0.0
Level 2:
Liabilities
Foreign currency contracts	5.9		0.4
Nonqualified deferred compensation	0.4		0.6
Level 2: \| Foreign currency contracts
Assets
Adjusted Cost	0.0		3.8
Unrealized Gains	0.0		0.0
Unrealized Losses	0.0		0.0
Fair Value	0.0		3.8
Level 2: \| Company-owned life insurance
Assets
Adjusted Cost	0.5		0.6
Unrealized Gains	0.0		0.0
Unrealized Losses	0.0		0.0
Fair Value	$ 0.5		$ 0.6

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Jan. 28, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments As of January 28, 2023, we had standby letters of credit outstanding in the amount of $119.3 million and other bank guarantees outstanding in the amount of $14.5 million, and $57.0 million of collateralized cash. As of January 28, 2023, we have purchase obligations of $387.2 million with payment dates through fiscal 2023 that represent outstanding purchase orders for merchandise from vendors. These purchase orders are generally cancellable until shipment of the products. See Note 10, "Leases," for information regarding commitments related to our non-cancelable operating leases. Legal Proceedings In the ordinary course of business, we are, from time to time, subject to various legal proceedings, including matters involving wage and hour associate class actions, stockholder actions and consumer class actions. We may enter into discussions regarding settlement of these and other types of lawsuits, and may enter into settlement agreements, if we believe settlement is in the best interest of our stockholders. We do not believe that any such existing legal proceedings or settlements, individually or in the aggregate, will have a material effect on our financial condition, results of operations or liquidity.

Intangible Assets - Estimated Aggregate Intangible Asset Amortization Expense (Details) $ in Millions	Jan. 28, 2023 USD ($)
Projected Amortization Expense
Fiscal 2023	$ 1.1
Fiscal 2024	0.6
Fiscal 2025	0.4
Fiscal 2026	0.3
Fiscal 2027	$ 0.1

Asset Impairments

12 Months Ended

Jan. 28, 2023

Restructuring and Related Activities [Abstract]

Asset Impairments

The following is a summary of our asset impairment charges, by reportable segment:


	United States		Canada		Australia		Europe		Total
Fiscal 2022
Store and other asset impairment charges	$	—	$	—	$	—	$	2.7	$	2.7
Total	$	—	$	—	$	—	$	2.7	$	2.7
Fiscal 2021
Store and other asset impairment charges	$	0.2	$	—	$	—	$	6.5	$	6.7
Total	$	0.2	$	—	$	—	$	6.5	$	6.7
Fiscal 2020
Intangible asset impairment charges(1)	$	0.5	$	—	$	—	$	0.6	$	1.1
Corporate aircraft impairment charges	3.2		—		—		—		3.2
Store and other asset impairment charges	7.6		0.1		—		3.5		11.2
Total	$	11.3	$	0.1	$	—	$	4.1	$	15.5

__________________________________________

(1) During 2020, we also recognized impairment charges of $0.5 million and $0.6 million related to our ThinkGeek trade name and Micromania trade name, respectively.

Summary of Significant Accounting Policies - Merchandise Inventories (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Accounting Policies [Abstract]
Inventory reserves	$ 46.7	$ 34.6

Revenue - Change in Contract Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022
Contract With Customer, Contract Liabilities [Roll Forward]
Contract liability beginning balance	$ 378.3	$ 348.2
Increase to contract liabilities	730.5	931.0
Decrease to contract liabilities	(769.7)	(896.1)
Other adjustments	(0.9)	(4.8)
Contract liability ending balance	338.2	378.3
Gift Cards Trade in Credits
Contract With Customer, Contract Liabilities [Roll Forward]
Revenue recognized	$ (52.6)	$ 48.8

Commitments and Contingencies (Details) $ in Millions	Jan. 28, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding, amount	$ 119.3
Bank guarantees outstanding	14.5
Cash collateralized	57.0
Purchase obligation	$ 387.2

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 5,927.2	$ 6,010.7	$ 5,089.8
Operating (loss) earnings	(311.6)	(368.5)	(237.8)
Depreciation and amortization	61.7	76.5	80.0
Asset impairment charges	2.7	6.7	15.5
Capital expenditures	55.9	62.0	60.0
Property and equipment, net	136.5	163.6	201.2
United States
Segment Reporting Information [Line Items]
Net sales	4,093.0	4,186.5	3,417.1
Operating (loss) earnings	(286.2)	(358.1)	(211.0)
Depreciation and amortization	40.6	50.7	51.2
Asset impairment charges	0.0	0.2	11.3
Capital expenditures	37.6	42.3	54.5
Property and equipment, net	83.3	100.1	125.2
Canada
Segment Reporting Information [Line Items]
Net sales	344.1	332.3	258.4
Operating (loss) earnings	(8.6)	(1.1)	(0.3)
Depreciation and amortization	4.1	2.9	3.1
Asset impairment charges	0.0	0.0	0.1
Capital expenditures	0.0	3.1	1.0
Property and equipment, net	3.7	8.3	8.2
Australia
Segment Reporting Information [Line Items]
Net sales	588.7	591.8	625.3
Operating (loss) earnings	13.8	30.6	52.2
Depreciation and amortization	6.7	7.0	7.6
Asset impairment charges	0.0	0.0	0.0
Capital expenditures	12.7	9.4	2.3
Property and equipment, net	20.9	15.6	14.8
Europe
Segment Reporting Information [Line Items]
Net sales	901.4	900.1	789.0
Operating (loss) earnings	(30.6)	(39.9)	(78.7)
Depreciation and amortization	10.3	15.9	18.1
Asset impairment charges	2.7	6.5	4.1
Capital expenditures	5.6	7.2	2.2
Property and equipment, net	$ 28.6	$ 39.6	$ 53.0

Accrued and Other Current Liabilities

12 Months Ended

Jan. 28, 2023

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

The following table presents our accrued and other current liabilities:


	January 28, 2023		January 29, 2022
Customer-related liabilities	$	192.2	$	247.5
Deferred revenue	211.9		142.3
Employee benefits, compensation and related taxes	95.6		97.9
Income and other taxes payable	28.3		30.7
Other accrued liabilities	74.3		150.5
Total accrued and other current liabilities	$	602.3	$	668.9

Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Payables and Accruals [Abstract]
Customer-related liabilities	$ 192.2	$ 247.5
Deferred revenue	211.9	142.3
Employee benefits, compensation and related taxes	95.6	97.9
Income and other taxes payable	28.3	30.7
Other accrued liabilities	74.3	150.5
Total accrued and other current liabilities	$ 602.3	$ 668.9

Accrued and Other Current Liabilities (Tables)

12 Months Ended

Jan. 28, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

The following table presents our accrued and other current liabilities:


	January 28, 2023		January 29, 2022
Customer-related liabilities	$	192.2	$	247.5
Deferred revenue	211.9		142.3
Employee benefits, compensation and related taxes	95.6		97.9
Income and other taxes payable	28.3		30.7
Other accrued liabilities	74.3		150.5
Total accrued and other current liabilities	$	602.3	$	668.9

Revenue - Performance Obligations (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Disaggregation of Revenue [Line Items]
Total performance obligations	$ 338.2	$ 378.3
Unredeemed customer liabilities
Disaggregation of Revenue [Line Items]
Total performance obligations	189.3	246.6
Extended warranties
Disaggregation of Revenue [Line Items]
Total performance obligations	98.5	82.6
Subscriptions
Disaggregation of Revenue [Line Items]
Total performance obligations	$ 50.4	$ 49.1

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
SEC Schedule, 12-09, Reserve, Inventory
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 34.6	$ 45.2	$ 58.0
Charged to Costs and Expenses	37.0	26.9	25.5
Charged to Other Accounts- Accounts Payable	10.7	21.2	15.1
Deductions- Write-Offs Net of Recoveries	(35.6)	(58.7)	(53.4)
Balance at End of Period	46.7	34.6	45.2
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	338.3	225.7	112.7
Charged to Costs and Expenses	70.2	128.9	113.0
Charged to Other Accounts- Accounts Payable	0.0	0.0	0.0
Deductions- Write-Offs Net of Recoveries	0.0	(16.3)	0.0
Balance at End of Period	$ 408.5	$ 338.3	$ 225.7

Property and Equipment

12 Months Ended

Jan. 28, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

The following table presents property and equipment, net:


	Estimated Useful Lives (Years)	January 28, 2023		January 29, 2022
Land	N/A	$	0.6	$	4.2
Buildings and leasehold improvements	1-10	437.3		457.8
Fixtures and equipment	3-10	380.1		431.2
Software and hardware	3	306.3		291.2
Construction-in-progress	3-10	19.0		9.0
Total property and equipment		1,143.3		1,193.4
Accumulated depreciation		(1,006.8)		(1,029.8)
Property and equipment, net		$	136.5	$	163.6

Our total depreciation expense was $60.3 million, $73.6 million and $76.8 million for fiscal 2022, 2021 and 2020, respectively in SG&A expenses in our Consolidated Statements of Operations.

Assets Held-for-Sale

On June 5, 2020, we sold our corporate aircraft, that was previously classified as held-for-sale, with net cash proceeds from the sale totaling $8.6 million, net of costs to sell. We recognized impairment charges of $3.2 million on our corporate aircraft in fiscal 2020.

During the fourth quarter of fiscal 2022, we committed to a plan to sell property in our Europe Segment consisting of a warehouse building and land with a total carrying value of €6.3 million, or $6.8 million. There were no impairment charges recognized as the estimated fair value of the asset group exceeded its carrying value. The building and land were classified as assets held for sale in other noncurrent assets on our Consolidated Balance Sheets as of January 28, 2023.

Associates' Defined Contribution Plan	12 Months Ended
Associates' Defined Contribution Plan	Jan. 28, 2023
Retirement Benefits [Abstract]
Associates' Defined Contribution Plan	Associates' Defined Contribution PlanWe sponsor a defined contribution plan (the “Savings Plan”) for the benefit of substantially all of our U.S. associates who meet certain eligibility requirements, primarily age and length of service. The Savings Plan allows associates to invest up to 60%, subject to IRS limitations, of their eligible gross cash compensation on a pre-tax basis. Our optional contributions to the Savings Plan are generally in amounts based upon a certain percentage of the associates’ contributions. Our contributions to the Savings Plan during fiscal 2022, 2021 and 2020, were $3.9 million, $4.5 million and $5.6 million, respectively.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Jan. 28, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II — Valuation and Qualifying Accounts

For fiscal 2022, 2021 and 2020:


	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts- Accounts Payable (1)		Deductions- Write-Offs Net of Recoveries		Balance at End of Period
	(In millions)
Inventory Reserve
Fiscal 2022	$	34.6	$	37.0	$	10.7	$	(35.6)	$	46.7
Fiscal 2021	45.2		26.9		21.2		(58.7)		34.6
Fiscal 2020	58.0		25.5		15.1		(53.4)		45.2
Valuation Allowance for Deferred Tax Assets
Fiscal 2022	$	338.3	$	70.2	$	—	$	—	$	408.5
Fiscal 2021	225.7		128.9		—		(16.3)		338.3
Fiscal 2020	112.7		113.0		—		—		225.7

___________________

(1) Consists primarily of amounts received from vendors for defective allowances.

Segment Information (Tables)

12 Months Ended

Jan. 28, 2023

Segment Reporting [Abstract]

Schedule of Information on Segments and Reconciliation to Earnings Before Income Taxes

The following table presents segment information:


	United States		Canada		Australia		Europe		Total
As of and for the Fiscal Year Ended January 28, 2023
Net sales	$	4,093.0	$	344.1	$	588.7	$	901.4	$	5,927.2
Operating (loss) earnings	(286.2)		(8.6)		13.8		(30.6)		(311.6)
Depreciation and amortization	40.6		4.1		6.7		10.3		61.7
Asset impairments	—		—		—		2.7		2.7
Capital expenditures	37.6		—		12.7		5.6		55.9
Property and equipment, net	83.3		3.7		20.9		28.6		136.5

As of and for the Fiscal Year Ended January 29, 2022
Net sales	$	4,186.5	$	332.3	$	591.8	$	900.1	$	6,010.7
Operating (loss) earnings	(358.1)		(1.1)		30.6		(39.9)		(368.5)
Depreciation and amortization	50.7		2.9		7.0		15.9		76.5
Asset impairments	0.2		—		—		6.5		6.7
Capital expenditures	42.3		3.1		9.4		7.2		62.0
Property and equipment, net	100.1		8.3		15.6		39.6		163.6

As of and for the Fiscal Year Ended January 30, 2021
Net sales	$	3,417.1	$	258.4	$	625.3	$	789.0	$	5,089.8
Operating (loss) earnings	(211.0)		(0.3)		52.2		(78.7)		(237.8)
Depreciation and amortization	51.2		3.1		7.6		18.1		80.0
Asset impairments	11.3		0.1		—		4.1		15.5
Capital expenditures	54.5		1.0		2.3		2.2		60.0
Property and equipment, net	125.2		8.2		14.8		53.0		201.2

Asset Impairments (Tables)

12 Months Ended

Jan. 28, 2023

Restructuring and Related Activities [Abstract]

Schedule of Asset Impairment

The following is a summary of our asset impairment charges, by reportable segment:


	United States		Canada		Australia		Europe		Total
Fiscal 2022
Store and other asset impairment charges	$	—	$	—	$	—	$	2.7	$	2.7
Total	$	—	$	—	$	—	$	2.7	$	2.7
Fiscal 2021
Store and other asset impairment charges	$	0.2	$	—	$	—	$	6.5	$	6.7
Total	$	0.2	$	—	$	—	$	6.5	$	6.7
Fiscal 2020
Intangible asset impairment charges(1)	$	0.5	$	—	$	—	$	0.6	$	1.1
Corporate aircraft impairment charges	3.2		—		—		—		3.2
Store and other asset impairment charges	7.6		0.1		—		3.5		11.2
Total	$	11.3	$	0.1	$	—	$	4.1	$	15.5

__________________________________________

(1) During 2020, we also recognized impairment charges of $0.5 million and $0.6 million related to our ThinkGeek trade name and Micromania trade name, respectively.

Revenue

12 Months Ended

Jan. 28, 2023

Revenue from Contract with Customer [Abstract]

Revenue

The following table presents net sales by significant product category:


	Fiscal
	2022		2021		2020
Hardware and accessories (1)	$	3,140.0	$	3,171.7	$	2,530.8
Software (2)	1,822.6		2,014.8		1,979.1
Collectibles	964.6		824.2		579.9
Total	$	5,927.2	$	6,010.7	$	5,089.8

(1) Includes sales of new and pre-owned hardware, accessories, hardware bundles in which hardware and digital or physical software are sold together in a single SKU, interactive game figures, strategy guides, mobile and consumer electronics.

(2) Includes sales of new and pre-owned gaming software, digital software and PC entertainment software.

See Note 5, "Segment Information," for net sales by geographic location.

Performance Obligations

We have arrangements with customers where our performance obligations are satisfied over time, which primarily relate to extended warranties and our Game Informer® magazine. Revenues do not include sales taxes or other taxes collected from customers. We expect to recognize revenue in future periods for remaining performance obligations we have associated with unredeemed gift cards, trade-in credits, reservation deposits and our PowerUp Rewards® loyalty program (collectively, “unredeemed customer liabilities”), extended warranties and subscriptions to our Game Informer® magazine.

Performance obligations associated with unredeemed customer liabilities are primarily satisfied at the time our customers redeem their gift cards, trade-in credits, reservation deposits or loyalty program points for products that we offer. Unredeemed customer liabilities are generally redeemed within one year of issuance.

We offer extended warranties on certain new and pre-owned gaming products with terms generally ranging from 12 to 24 months, depending on the product. Revenues for extended warranties sold are recognized on a straight-line basis over the life of the contract.

Performance obligations associated with subscriptions to our Game Informer® magazine are satisfied when magazines are delivered in print form or when made available in digital format.

The following table presents our performance obligations recognized in accrued liabilities and other current liabilities on our Consolidated Statements of Operations:


	Fiscal
	2022		2021
Unredeemed customer liabilities	$	189.3	$	246.6
Extended warranties	98.5		82.6
Subscriptions	50.4		49.1
Total performance obligations	$	338.2	$	378.3

Significant Judgments and Estimates

We accrue PowerUp Rewards® loyalty points at the estimated retail price per point, net of estimated breakage, which can be redeemed by our loyalty program members for discounts on products that we offer. The estimated retail price per point is based on the actual historical retail prices of products purchased through the redemption of loyalty points. We estimate breakage of loyalty points and unredeemed gift cards based on historical redemption rates.

Contract Balances

Our contract liabilities primarily consist of unredeemed customer liabilities and deferred revenues associated with gift cards, extended warranties and subscriptions to our Game Informer® magazine.

The following table presents a roll forward of our contract liabilities:


	Fiscal
	2022		2021
Contract liability beginning balance	$	378.3	$	348.2
Increase to contract liabilities (1)	730.5		931.0
Decrease to contract liabilities (2)	(769.7)		(896.1)
Other adjustments (3)	(0.9)		(4.8)
Contract liability ending balance	$	338.2	$	378.3

__________________________________________

(1) Includes issuances of gift cards, trade-in credits and loyalty points, new reservation deposits, new subscriptions to Game Informer® and extended warranties sold.

(2) Includes redemptions of gift cards, trade-in credits, loyalty points and reservation deposits as well as revenues recognized for Game Informer® and extended warranties. During fiscal 2022, there were $52.6 million of gift cards redeemed that were outstanding as of January 29, 2022. During fiscal 2021, there were $48.8 million of gift cards redeemed that were outstanding as of January 30, 2021.

(3) Primarily includes foreign currency translation adjustments.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt (Tables)

12 Months Ended

Jan. 28, 2023

Debt Disclosure [Abstract]

Schedule of Maturities of Long-Term Debt

The following table presents the future principal payments for French term loans:


Period	Annual Maturities
Fiscal 2023	$	10.8
Fiscal 2024	10.9
Fiscal 2025	10.9
Fiscal 2026	6.9
Total	$	39.5

Property and Equipment - Narrative (Details) € in Millions, $ in Millions		3 Months Ended		12 Months Ended
	Jun. 05, 2020 USD ($)	Jan. 28, 2023 USD ($)	Jan. 28, 2023 EUR (€)	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Depreciation				$ 60.3	$ 73.6	$ 76.8
Corporate aircraft impairment charges						3.2
United States
Property, Plant and Equipment [Line Items]
Proceeds from sale of loans	$ 8.6
Corporate aircraft impairment charges						$ 3.2
Europe Segment
Property, Plant and Equipment [Line Items]
Proceeds from sale of loans		$ 6.8	€ 6.3
Corporate aircraft impairment charges		$ 0.0

Debt

12 Months Ended

Jan. 28, 2023

Debt Disclosure [Abstract]

Debt

French Term Loans

During fiscal 2020, our French subsidiary, Micromania SAS, entered into six separate unsecured term loans for a total of €40.0 million. In the second quarter of 2021, at the request of Micromania SAS, these term loans were extended for five years, with an amortization plan for the principal starting in October 2022. In connection with the extension, the interest rate increased from zero to 0.7% for three of the term loans totaling €20.0 million, and 1% for the remaining three term loans totaling €20.0 million. The French government has guaranteed 90% of the term loans pursuant to a state guaranteed loan program instituted in connection with the COVID-19 pandemic.

As of January 28, 2023 and January 29, 2022, there was €36.3 million, or $39.5 million, and €40.0 million, or $44.6 million, of outstanding debt, respectively, which represents the French term loans described below. Total outstanding debt includes $10.8 million and $4.1 million of short-term debt as of January 28, 2023 and January 29, 2022, respectively, which represents the current portion of such French term loans.

Each of Micromania SAS's term loans, as described above, restrict the ability of Micromania SAS to make distributions and loans to its affiliates, and include various events that would result in the automatic acceleration of the loans thereunder, including failure to pay any principal or interest when due, acceleration of other indebtedness, a change of control and certain bankruptcy, insolvency or receivership events.

The following table presents the future principal payments for French term loans:


Period	Annual Maturities
Fiscal 2023	$	10.8
Fiscal 2024	10.9
Fiscal 2025	10.9
Fiscal 2026	6.9
Total	$	39.5

Credit Facility

In November 2021 we entered into a credit agreement (the "Credit Agreement") for a secured asset-based credit facility comprised of a $500 million revolving line of credit which matures in November 2026 ("2026 Revolver"). The 2026 Revolver includes a $50 million swing loan revolving sub-facility, a $50 million Canadian revolving sub-facility, and a $250 million letter of credit sublimit. Borrowings under the 2026 Revolver accrue interest at an adjusted LIBOR rate plus an applicable margin (ranging from 1.25% to 1.50%) or an adjusted prime rate plus an applicable margin (ranging from 0.25% to 0.50%). The 2026 Revolver replaced the 2022 Revolver.

The obligations of the borrowers under the Credit Agreement are guaranteed by the Company and certain of its subsidiaries, subject to exceptions that, among other things, limit the ability of the Company’s foreign subsidiaries to guarantee obligations owing by the Company and its domestic subsidiaries. The obligations of the Company and each subsidiary of the Company that is a borrower and/or a guarantor under the Credit Agreement are secured by substantially all of the assets of the Company and each such subsidiary, subject to customary exceptions.

The Credit Agreement places certain restrictions on the Company and its subsidiaries, including, but not limited to, limitations on additional liens, investments, acquisitions, loans, guarantees, the incurrence of additional indebtedness, certain fundamental changes, certain dispositions, certain dividends and distributions, and certain related party transactions. The Credit Agreement also provides for customary events of default, including, but not limited to, payment defaults, breaches of covenants and certain events of bankruptcy, insolvency and reorganization. In addition, in the event that excess availability under the 2026 Revolver is at any time less than the greater of (1) $12.5 million or (2) 10% of the lesser of the total commitment or the borrowing base, we will be subject to a fixed charge coverage ratio covenant of 1.0:1.0 (the "Availability Reduction").

As of January 28, 2023, total availability under the 2026 Revolver, after giving effect to the Availability Reduction was $330.7 million, with no outstanding borrowings and outstanding standby letters of credit of $119.3 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Summary of Significant Accounting Policies - Vendor Arrangements (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Accounting Policies [Abstract]
Cost of sales vendor allowances	$ 70.3	$ 71.7	$ 72.5

Asset Impairments - Schedule of Asset Impairment (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Impairment Costs [Line Items]
Intangible asset impairment charges	$ 0.0	$ 0.0	$ 1.1
Corporate aircraft impairment charges			3.2
Store and other asset impairment charges	2.7	6.7	11.2
Total asset impairments	2.7	6.7	15.5
United States
Impairment Costs [Line Items]
Intangible asset impairment charges			0.5
Corporate aircraft impairment charges			3.2
Store and other asset impairment charges	0.0	0.2	7.6
Total asset impairments	0.0	0.2	11.3
Canada
Impairment Costs [Line Items]
Intangible asset impairment charges			0.0
Corporate aircraft impairment charges			0.0
Store and other asset impairment charges	0.0	0.0	0.1
Total asset impairments	0.0	0.0	0.1
Australia
Impairment Costs [Line Items]
Intangible asset impairment charges			0.0
Corporate aircraft impairment charges			0.0
Store and other asset impairment charges	0.0	0.0	0.0
Total asset impairments	0.0	0.0	0.0
Europe
Impairment Costs [Line Items]
Intangible asset impairment charges			0.6
Corporate aircraft impairment charges			0.0
Store and other asset impairment charges	2.7	6.5	3.5
Total asset impairments	$ 2.7	$ 6.5	$ 4.1

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Jan. 27, 2023
Goodwill and Intangible Assets Disclosure [Line Items]
Deferred income liability	$ 338.2	$ 378.3	$ 348.2
Gain on sale of digital assets	7.2	0.0	0.0
Digital asset impairments	34.0	0.0	0.0
Impairment of intangible assets	$ 0.0	0.0	1.1
Total weighted-average amortization period for finite lived intangible assets	7 years
Amortization of intangible assets	$ 1.4	3.6	4.0
Europe
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets			0.6
United States
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets			$ 0.5
Leases, Acquired-in-Place \| Maximum
Goodwill and Intangible Assets Disclosure [Line Items]
Total weighted-average amortization period for finite lived intangible assets	20 years
Digital Assets
Goodwill and Intangible Assets Disclosure [Line Items]
Noncurrent receivable		79.0
Deferred income liability	$ 57.3			$ 33.8
Gain on sale of digital assets	6.9
Digital asset impairments	33.7
Other nonrecurring gain	$ 56.0
Digital Assets \| Maximum
Goodwill and Intangible Assets Disclosure [Line Items]
Receivable		$ 150.0

Earnings Per Share (Tables)

12 Months Ended

Jan. 28, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation of Shares Used in Calculating Basic and Diluted Net Loss Per Common Share

The following is a reconciliation of shares used in calculating basic and diluted net income (loss) per common share:


	Fiscal
	2022	2021	2020
Weighted-average common shares outstanding	304.2	290.4	260.0
Dilutive effect of restricted stock units and restricted stock	—	—	—
Weighted-average diluted common shares	304.2	290.4	260.0

Anti-dilutive shares:
Restricted stock units	5.9	3.6	—
Restricted stock	0.3	1.6	6.4

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Jan. 28, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recent Accounting Pronouncements In March 2022, the SEC staff released Staff Accounting Bulletin No. 121 ("SAB 121"), which requires entities that hold crypto assets on behalf of platform users to recognize a liability to reflect the entity’s obligation to safeguard the crypto assets held for its platform users, whether directly or through an agent or another third party acting on its behalf, along with a corresponding safeguarding asset. Both the liability and corresponding safeguarding asset shall be measured at fair value. SAB 121 also requires disclosure of the nature and amount of crypto assets being safeguarded, how the fair value is determined, an entity's accounting policy for safeguarding liabilities and corresponding safeguarding assets, and may require disclosure of other information about risks and uncertainties arising from the entity's safeguarding activities. For crypto assets that are not maintained on our platform and for which the Company does not maintain a private key or the ability to recover a customer’s private key, these balances are not recorded, as there is no related safeguarding obligation in accordance with SAB 121. This guidance is effective from the first interim period after June 15, 2022 and should be applied retrospectively. We adopted SAB 121 during fiscal 2022, with no impact on our consolidated financial statements. In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This standard provides practical expedients for contract modifications with the transition from reference rates, such as LIBOR, that are expected to be discontinued. This guidance is applicable for our revolving line of credit, which uses LIBOR as a reference rate. The provisions of ASU 2020-04 are effective as of March 12, 2020 and may be adopted prospectively through December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Deferral of the Sunset Date of Topic 848, which extended the expiration date of ASU 2020-04 to December 31, 2024. As of January 30, 2022, we adopted ASU 2020-04 with no material impact to our consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This standard is intended to simplify the accounting and disclosure requirements for income taxes by eliminating various exceptions in accounting for income taxes as well as clarifying and amending existing guidance to improve consistency in application of ASC 740. The provisions of ASU 2019-12 are effective for fiscal years beginning after December 15, 2021, with early adoption permitted. As of January 30, 2022, we adopted this ASU with no material impact to our consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt - Schedule of Maturities of Long-Term Debt (Details) $ in Millions	Jan. 28, 2023 USD ($)
Debt Disclosure [Abstract]
Fiscal 2023	$ 10.8
Fiscal 2024	10.9
Fiscal 2025	10.9
Fiscal 2026	6.9
Total	$ 39.5

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Income Taxes [Line Items]
Valuation allowance, deferred tax asset	$ 70.2
Tax credit carryforward, amount	22.2
Income taxes receivable	171.5
Unrecognized tax benefits	9.5	$ 9.1	$ 5.7	$ 6.5
Impact effective tax rate	9.5
Penalties and interest accrued	3.7	3.8	3.4
Income tax penalties and interest expense	(0.1)	$ 0.4	$ 0.6
NOL with expiration
Income Taxes [Line Items]
Operating loss carryforwards	7.0
NOL with expiration \| Geeknet
Income Taxes [Line Items]
Operating loss carryforwards	53.0
NOL without expiration
Income Taxes [Line Items]
Operating loss carryforwards	$ 419.7
State and Local Jurisdiction \| Minimum
Income Taxes [Line Items]
Examination years subject to examination	3 years
State and Local Jurisdiction \| Maximum
Income Taxes [Line Items]
Examination years subject to examination	6 years

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Jan. 28, 2023
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and ConsolidationOur consolidated financial statements include our accounts and the accounts of our wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Consolidated Statements of Cash flows is presented on a combined basis for all periods presented and, therefore, does not segregate cash flows from continuing and discontinued operations. The information contained in these notes to our consolidated financial statements refers to continuing operations unless otherwise noted.
Fiscal Period	Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2022 consisted of the 52 weeks ended on January 28, 2023 ("fiscal 2022"). Fiscal year 2021 consisted of the 52 weeks ended on January 29, 2022 ("fiscal 2021"). Fiscal year 2020 consisted of the 52 weeks ended on January 30, 2021 ("fiscal 2020").
Reclassifications	Reclassifications Certain amounts presented in our prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported total assets.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the 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. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Our cash and cash equivalents are carried at fair value and consist primarily of cash, money market funds, cash deposits with commercial banks, U.S. government bonds and notes, and highly rated direct short-term instruments that mature in 90 days or less. Such investments with an original maturity of 90 days or less are classified as cash and cash equivalents on our Consolidated Balance Sheets. Restricted cash consists primarily of bank deposits that collateralize our obligations to vendors and landlords.
Investments	Investments We generally invest our excess cash in highly-rated money market funds and investment grade short-term fixed income securities, which consist of U.S. government and agency securities. Such investments with an original maturity in excess of 90 days and less than one year are classified as marketable securities on our Consolidated Balance Sheets. Our investments are classified as available-for-sale debt securities and reported at fair value. Unrealized holding gains and losses are recognized in accumulated other comprehensive loss on our Consolidated Balance Sheets. Realized gains and losses upon sale or extinguishment are reported in interest (income) expense and other, net in our Consolidated Statements of Operations. Each reporting period, we evaluate whether declines in fair value below carrying value are due to expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs.
Merchandise Inventories	Merchandise Inventories Our merchandise inventories are carried at the lower of cost or market generally using the average cost method. Under the average cost method, as new product is received from vendors, its current cost is added to the existing cost of product on-hand and this amount is re-averaged over the cumulative units. Pre-owned gaming systems and other products traded in by customers are recorded as inventory at the amount of the store credit given to the customer. We are required to make adjustments to inventory to reflect potential obsolescence or over-valuation as a result of cost exceeding market. In valuing inventory, we consider quantities on hand, recent sales, potential price protections, returns to vendors and other factors. Our ability to assess these factors is dependent upon our ability to forecast customer demand and to provide a well-balanced merchandise assortment. Inventory is adjusted based on anticipated physical inventory losses or shrinkage and actual losses resulting from periodic physical inventory counts. Inventory reserves as of January 28, 2023 and January 29, 2022 were $46.7 million and $34.6 million, respectively.
Property and Equipment	Property and Equipment Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation on fixtures and equipment is computed using the straight-line method over their estimated useful lives. Maintenance and repairs are expensed as incurred, while improvements and major remodeling costs are capitalized. Leasehold improvements are capitalized and amortized over the shorter of their estimated useful lives or the terms of the respective leases, which includes reasonably certain renewal options. Costs incurred in purchasing or developing management information systems are capitalized and included in fixtures and equipment. These costs are amortized over their estimated useful lives from the date the technology becomes operational. We periodically review our property and equipment when events or changes in circumstances indicate that its carrying amounts may not be recoverable or its depreciation or amortization periods should be accelerated. We assess recoverability based on several factors, including our intention with respect to our stores and those stores' projected undiscounted cash flows. An impairment loss is recognized for the amount by which the carrying amount of the assets exceeds its fair value, determined based on an estimate of discounted future cash flows or readily available market information for similar assets. Assets Held for Sale We consider assets to be held for sale when management, with appropriate authority, approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer has been initiated, the sale of the assets is probable and expected to be completed within one year, and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, we record the assets at the lower of their carrying value or their estimated fair value, reduced for the cost to dispose the assets.
Intangible Assets, Digital Assets, Trade Names and Definite-lived Intangible Assets	Intangible Assets Indefinite-lived intangible assets are expected to contribute to cash flows indefinitely and, therefore, are not subject to amortization but are required to be evaluated at least annually for impairment. If the carrying value of an individual indefinite-lived intangible asset exceeds its fair value, such individual indefinite-lived intangible asset is impaired by the amount of the excess. We test our indefinite-lived intangible assets on an annual basis during the fourth quarter or when circumstances indicate the carrying value might be impaired. Our indefinite-lived intangible assets consist of digital assets and trade names. Digital Assets We account for digital assets in accordance with ASC 350, Intangibles-Goodwill and Other (Topic 350). Our digital assets are initially recorded at cost. Accordingly, if the fair market value at any point during the reporting period is lower than the carrying value, an impairment loss equal to the difference will be recognized in selling, general, and administrative ("SG&A") expenses in our Consolidated Statement of Operations. This new cost basis will not be adjusted upward for any subsequent increase in fair value. Gains or losses on the sale of digital assets, if any, will be recognized based on the fair value upon sale or disposal of the assets in SG&A expenses in our Consolidated Statement of Operations. See Note 11, "Intangible Assets" for additional information. Trade Names The fair value of our trade names are estimated by using a relief-from-royalty approach, which assumes the value of the trade name is the discounted cash flows of the amount that would be paid by a hypothetical market participant had they not owned the trade name and instead licensed the trade name from another company. As a result of our annual impairment testing in fiscal 2020, we recognized impairment charges of $1.1 million associated with our trade names. We recognized no impairment charges during fiscal 2022 and 2021. See Note 11, "Intangible Assets" for additional information. Definite-lived Intangible Assets Our definite-lived intangible assets consist primarily of leasehold rights. The estimated useful life and amortization methodology of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows. Intangible assets that are determined to have a definite life are amortized over the life of the asset.
Revenue Recognition, Loyalty Program, Customer Liabilities, Vendor Arrangements, Cost of Sales and Selling, General and Administrative Expenses Classification	Revenue Recognition We recognize revenue when performance obligations are satisfied by transferring goods or services to the customer in an amount that we expect to collect in exchange for those goods or services. The satisfaction of a performance obligation with a single customer may occur at a point in time or may occur over time. The significant majority of our revenue is recognized at a point in time, generally when a customer purchases and takes possession of merchandise through our stores or when merchandise purchased through our ecommerce platforms is delivered to a customer. We have arrangements with customers where our performance obligations are satisfied over time, which primarily relate to extended warranties and our Game Informer® magazine. In arrangements where we have multiple performance obligations, the transaction price is allocated to each performance obligation based on their relative stand-alone selling price (see "Loyalty Program"). Revenue is recognized net of sales discounts and net of an estimated sales return reserve. Our sales return policy is generally limited to 30 days or less and as such our sales returns are, and historically have been, immaterial. Revenues do not include sales taxes or other taxes collected from customers. Advertising revenues for Game Informer® are recorded upon release of magazines for sale to consumers. Subscription revenues for our PowerUp Rewards® loyalty program and magazines are recognized on a straight-line basis over the subscription period. Revenue from the sales of product replacement plans is recognized on a straight-line basis over the coverage period. Customer liabilities and other deferred revenues for our PowerUp Rewards® loyalty program, gift cards, customer credits, magazines and product replacement plans are included in accrued liabilities and other current liabilities on our Consolidated Balance Sheets. We also sell a variety of digital products which generally allow consumers to download software or play games on the internet. The significant majority of the digital products we sell are unbundled and do not require us to purchase inventory or take physical possession of, or take title to, inventory. When purchasing these products from us, consumers pay a retail price and we earn a commission based on a percentage of the retail sale as negotiated with the digital product publisher. We recognize the sale of these digital products on a net basis, whereby the commissions earned are recorded as revenue. Loyalty Program Our PowerUp Rewards® loyalty program allows paid members to earn points on purchases that can be redeemed for rewards that include discounts or coupons. When loyalty program members purchase our product, we allocate the transaction price between the product and loyalty points earned based on the relative stand-alone selling prices and expected point redemption. The portion allocated to the loyalty points is initially recorded as deferred revenue and subsequently recognized as revenue upon redemption or expiration. The two primary estimates utilized to record the deferred revenue for loyalty points earned by members are the estimated retail price per point and estimated breakage. The estimated retail price per point is based on the actual historical retail prices of product purchased through the redemption of loyalty points. We estimate breakage of loyalty points based on historical redemption rates. We continually evaluate our methodology and assumptions based on developments in retail price per point redeemed, redemption patterns and other factors. Changes in the retail price per point and redemption rates have the effect of either increasing or decreasing the deferred revenue liability through current period revenue by an amount estimated to represent the retail value of all points previously earned but not yet redeemed by loyalty program members as of the end of the reporting period. The cost of administering the loyalty program, including program administration fees, program communications and cost of loyalty cards, is recognized in SG&A expenses in our Consolidated Statement of Operations. Customer Liabilities We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed. In addition, we recognize breakage in revenue upon redemption and in proportion to historical redemption patterns, regardless of the age of the unused gift cards and merchandise credit liabilities. To the extent that future redemption patterns differ from those historically experienced, there will be variations in the recorded breakage. Vendor Arrangements We participate in vendor cooperative advertising programs and other vendor marketing programs in which vendors provide us with cash consideration in exchange for marketing and advertising the vendors’ products. Our accounting for cooperative advertising arrangements and other vendor marketing programs results in a significant portion of the consideration received from our vendors reducing the product costs in inventory rather than as an offset to our marketing and advertising costs. The consideration serving as a reduction in inventory is recognized in cost of sales as inventory is sold. The amount of vendor allowances to be recorded as a reduction of inventory is determined based on the nature of the consideration received and the merchandise inventory to which the consideration relates. We apply a sell-through rate to determine the timing in which the consideration should be recognized in cost of sales. Consideration received that relates to gaming products that have not yet been released to the public is deferred as a reduction of inventory. The cooperative advertising programs and other vendor marketing programs generally cover a period from a few days up to a few weeks and include items such as product catalog advertising, in-store display promotions, internet advertising, co-op print advertising and other programs. The allowance for each event is negotiated with the vendor and requires specific performance by us to be earned. Vendor allowances of $70.3 million, $71.7 million and $72.5 million were recorded as a reduction of cost of sales for fiscal 2022, 2021 and 2020, respectively, in our Consolidated Statements of Operations. Cost of Sales and Selling, General, and Administrative Expenses Classification The classification of cost of sales and SG&A expenses varies across the retail industry. We include certain purchasing, receiving and distribution costs in SG&A in the Consolidated Statements of Operations. We include processing fees associated with purchases made by credit cards and other payment methods in cost of sales in our Consolidated Statements of Operations.
Advertising Expenses	Advertising ExpensesWe expense advertising costs for television, print, digital advertising, and other media when the advertising takes place. Advertising expenses for fiscal 2022, 2021 and 2020 totaled $75.0 million, $93.6 million, and $58.4 million, respectively.
Income Taxes	Income Taxes Income tax expense includes federal, state, local and international income taxes. Income taxes are accounted for utilizing an asset and liability approach and deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the financial reporting basis and the tax basis of existing assets and liabilities using enacted tax rates. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. In accordance with GAAP, we maintain liabilities for uncertain tax positions until examination of the tax year is completed by the applicable taxing authority, available review periods expire or additional facts and circumstances cause us to change our assessment of the appropriate accrual amount. See Note 15, "Income Taxes," for additional information. We do not assert indefinite reinvestment on the undistributed earnings of our foreign subsidiaries. Income tax and/or withholding tax associated with any amounts available for distribution as of January 28, 2023 is not expected to be material to our financial statements.
Leases	Leases We conduct the substantial majority of our business with leased real estate properties, including retail stores, warehouse facilities and office space. We also lease certain equipment and vehicles. These are generally leased under non-cancelable agreements and include various renewal options for additional periods. These agreements generally provide for minimum, and in some cases, percentage rentals, and require us to pay insurance, taxes and other maintenance costs. Percentage rentals are based on sales performance in excess of specified minimums at various stores and are accounted for in the period in which the amount of percentage rentals can be accurately estimated. All of our lease agreements are classified as operating leases. We determine if an arrangement is considered a lease at inception. We recognize ROU assets, on the commencement date based on the present value of future minimum lease payments over the lease term, including reasonably certain renewal options. As the rate implicit in the lease is not readily determinable for most leases, we utilize our incremental borrowing rate ("IBR") to determine the present value of future payments. The incremental borrowing rate represents a significant judgment that is based on an analysis of our credit rating, country risk, corporate bond yields and the effect of collateralization. For our real estate leases, we do not separate the components of a contract, thus our future payments include minimum rent payments and fixed executory costs. For our non-real estate leases, future payments include only fixed minimum rent payments. We record the amortization of our ROU assets and the accretion of our lease liabilities as a single lease cost on a straight-line basis over the lease term, which includes option terms we are reasonably certain to exercise. We recognize our cash or lease incentives as a reduction to the ROU asset. We assess ROU assets for impairment in accordance with our long-lived asset impairment policy, which is performed periodically or when events or changes in circumstances indicate that the carrying amount may not be recoverable.
Foreign Currency	Foreign Currency Generally, we have determined that the functional currencies of our foreign subsidiaries are the subsidiaries’ local currencies. The assets and liabilities of the subsidiaries are translated into U.S. dollars at the applicable exchange rate as of the end of the balance sheet date and revenue and expenses are translated into U.S. dollars at an average rate over the period. Currency translation adjustments are recorded as a component of other comprehensive income in our Consolidated Statement of Comprehensive Loss. Currency translation adjustments related to divested foreign businesses are reclassified into earnings as a component of SG&A in our Consolidated Statements of Operations once the liquidation of the respective foreign businesses is substantially complete. Transaction gains and losses arising from transactions denominated in nonfunctional currencies and derivatives resulted in net losses of $2.6 million, $3.4 million, and $1.0 million, for fiscal 2022, 2021 and 2020, respectively. These costs were recognized in SG&A expenses in our Consolidated Statements of Operations. We use forward exchange contracts to manage currency risk primarily related to foreign-currency denominated intercompany assets and liabilities. The forward exchange contracts are not designated as hedges and, therefore, changes in the fair values of these derivatives are recognized in earnings, thereby offsetting the current earnings effect of the re-measurement of related intercompany loans.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2022, the SEC staff released Staff Accounting Bulletin No. 121 ("SAB 121"), which requires entities that hold crypto assets on behalf of platform users to recognize a liability to reflect the entity’s obligation to safeguard the crypto assets held for its platform users, whether directly or through an agent or another third party acting on its behalf, along with a corresponding safeguarding asset. Both the liability and corresponding safeguarding asset shall be measured at fair value. SAB 121 also requires disclosure of the nature and amount of crypto assets being safeguarded, how the fair value is determined, an entity's accounting policy for safeguarding liabilities and corresponding safeguarding assets, and may require disclosure of other information about risks and uncertainties arising from the entity's safeguarding activities. For crypto assets that are not maintained on our platform and for which the Company does not maintain a private key or the ability to recover a customer’s private key, these balances are not recorded, as there is no related safeguarding obligation in accordance with SAB 121. This guidance is effective from the first interim period after June 15, 2022 and should be applied retrospectively. We adopted SAB 121 during fiscal 2022, with no impact on our consolidated financial statements. In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This standard provides practical expedients for contract modifications with the transition from reference rates, such as LIBOR, that are expected to be discontinued. This guidance is applicable for our revolving line of credit, which uses LIBOR as a reference rate. The provisions of ASU 2020-04 are effective as of March 12, 2020 and may be adopted prospectively through December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Deferral of the Sunset Date of Topic 848, which extended the expiration date of ASU 2020-04 to December 31, 2024. As of January 30, 2022, we adopted ASU 2020-04 with no material impact to our consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This standard is intended to simplify the accounting and disclosure requirements for income taxes by eliminating various exceptions in accounting for income taxes as well as clarifying and amending existing guidance to improve consistency in application of ASC 740. The provisions of ASU 2019-12 are effective for fiscal years beginning after December 15, 2021, with early adoption permitted. As of January 30, 2022, we adopted this ASU with no material impact to our consolidated financial statements.

Revenue (Tables)

12 Months Ended

Jan. 28, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Sales and Percentage of Total Net Sales by Significant Product Category

The following table presents net sales by significant product category:


	Fiscal
	2022		2021		2020
Hardware and accessories (1)	$	3,140.0	$	3,171.7	$	2,530.8
Software (2)	1,822.6		2,014.8		1,979.1
Collectibles	964.6		824.2		579.9
Total	$	5,927.2	$	6,010.7	$	5,089.8

(2) Includes sales of new and pre-owned gaming software, digital software and PC entertainment software.

Schedule of Performance Obligations Associated with Subscriptions

The following table presents our performance obligations recognized in accrued liabilities and other current liabilities on our Consolidated Statements of Operations:


	Fiscal
	2022		2021
Unredeemed customer liabilities	$	189.3	$	246.6
Extended warranties	98.5		82.6
Subscriptions	50.4		49.1
Total performance obligations	$	338.2	$	378.3

Schedule of Contract with Customer, Asset and Liability

The following table presents a roll forward of our contract liabilities:


	Fiscal
	2022		2021
Contract liability beginning balance	$	378.3	$	348.2
Increase to contract liabilities (1)	730.5		931.0
Decrease to contract liabilities (2)	(769.7)		(896.1)
Other adjustments (3)	(0.9)		(4.8)
Contract liability ending balance	$	338.2	$	378.3

__________________________________________

(1) Includes issuances of gift cards, trade-in credits and loyalty points, new reservation deposits, new subscriptions to Game Informer® and extended warranties sold.

(3) Primarily includes foreign currency translation adjustments.

Leases

12 Months Ended

Jan. 28, 2023

Leases [Abstract]

Leases

In July of 2020, we sold, in separate unrelated transactions, to unaffiliated third parties: i) our corporate headquarters and ancillary office space in Grapevine, Texas for $28.5 million, net of costs to sell and ii) a nearby refurbishment center for $15.2 million, net of costs to sell. In connection with each of the sales, we leased back from the applicable purchasers our corporate headquarters for an initial term of ten years and refurbishment center for an initial term of two years. The leaseback agreement for the corporate headquarters contains three renewal periods of five years each; we recognized only the initial term of the lease as part of our right-of-use asset and lease liability for the corporate headquarters. The annual rent for the corporate headquarters will start at $1.7 million, plus taxes, utilities, management fees and other operating and maintenance expenses and will increase by 2.25% per year. In July 2021, we extended the term of the lease for our refurbishment center by three years through July 2025, with a five year renewal period. These leaseback agreements are accounted for as operating leases.

With respect to the leaseback of the corporate headquarters, we agreed to provide a letter of credit to the buyer-lessor within 18 months from the closing date to secure our lease obligation. Given that the purchase price of the corporate headquarters was reduced by $2.8 million to account for the deferred issuance of this letter of credit, we recognized a contract asset for the same amount in prepaid expenses and other current assets on our Consolidated Balance Sheets in 2020, which represents the variable consideration on the purchase price. In 2021, we issued a letter of credit of $2.8 million and derecognized the contract asset. Upon delivering the letter of credit, we were entitled to a rent credit of an equivalent amount. This variable consideration was recognized in the total gain on sale of assets in our Consolidated Statements of Operations during the second quarter of 2020. The net proceeds from the sale of these assets were used for general corporate purposes.

In August 2020, we sold our Australian headquarters in Eagle Farm, Queensland to an unrelated party for approximately $27.0 million, net of costs to sell, and immediately leased back the facility for a term of ten years on market rate terms at an average annual base rent of $1.7 million, plus taxes, utilities, management fees and other operating and maintenance expenses. Additionally, in September 2020, we sold our Canadian headquarters in Brampton, Ontario for approximately $16.7 million, net of costs to sell, and leased back the facility for a term of five years on market rate terms at an average annual base rent of $0.9 million, plus taxes, utilities, management fees and other operating and maintenance expenses. We recognized only the initial term of the lease as part of our right-of-use asset and lease liability for both the Australian and Canadian headquarters. The net proceeds from the sale of these assets were used for general corporate purposes.

As a result of these transactions, we recognized total gain on sale of assets of $32.4 million in our Consolidated Statements of Operations in fiscal 2020.

The following table presents rent expenses under operating leases:


	Fiscal
	2022		2021		2020
Operating lease cost	$	278.3	$	296.3	$	311.5
Variable lease cost (1)	64.3		64.1		79.2
Total rent expense	$	342.6	$	360.4	$	390.7

(1) Variable lease cost includes percentage rentals and variable executory costs.

In fiscal 2022, we recognized $0.1 million of store-level ROU asset impairment charges compared to $1.3 million of store-level ROU asset impairment charges in fiscal 2021.


	January 28, 2023		January 29, 2022
Weighted-average remaining lease term (years) (1)	4.3		4.2
Weighted-average discount rate (2)	5.7	%	4.3	%

(2) The weighted-average discount rate weights the IBR determined for each lease based on each lease's respective liability balance as of January 28, 2023 and January 29, 2022.

The following table presents expected lease payments associated with our operating lease liabilities, excluding percentage rentals, for the next five fiscal years:


Period	Operating Leases(1)
Fiscal 2023	$	202.8
Fiscal 2024	159.9
Fiscal 2025	105.3
Fiscal 2026	70.9
Fiscal 2027	49.4
Thereafter	69.8
Total remaining lease payments	658.1
Less: Interest	(81.0)
Present value of lease liabilities(2)	$	577.1

(1) Operating lease payments exclude legally binding lease payments for leases signed but not yet commenced.

Common Stock and Share-Based Compensation - Restricted Stock Awards (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Jan. 28, 2023 USD ($) $ / shares shares	Jan. 29, 2022 USD ($) $ / shares shares	Jan. 30, 2021 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense, tax benefit \| $	$ 0.0	$ 0.0	$ 1.0
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) \| shares	6,200,000	5,200,000	18,400,000
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exchange ratio	1
Grants in period, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 31.43
Granted (in shares) \| shares	5,536,250
Nonvested award, cost not yet recognized, amount \| $	$ 161.4
Nonvested award, cost not yet recognized, period for recognition	2 years 10 months 24 days
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 0	$ 29.42	$ 1.16
Granted (in shares) \| shares	0	742,972	8,272,704
Nonvested award, cost not yet recognized, amount \| $	$ 4.1
Nonvested award, cost not yet recognized, period for recognition	1 year 9 months 18 days
Equity instruments other than options, vested in period, fair value \| $	$ 12.7	$ 16.8	$ 5.1
Restricted stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 0		$ 1.15
Granted (in shares) \| shares	0	0	2,006,448

Common Stock and Share-Based Compensation - Stock Options (Details) - USD ($)	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Share-Based Payment Arrangement [Abstract]
Granted (in shares)	0	0	0
Outstanding (in shares)	0
Exercisable (in shares)	0
Options exercised (in shares)	0	0	553,920
Options outstanding intrinsic value	$ 0

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 28, 2023

Accounting Policies [Abstract]

Reconciliation of Cash and Cash Equivalents


	2022		2021
Cash and cash equivalents	$	1,139.0	$	1,271.4
Restricted cash(1)	41.3		33.1
Long-term restricted cash(2)	15.7		15.4
Total cash, cash equivalents and restricted cash	$	1,196.0	$	1,319.9

_________________________________________________

(1) Recognized in prepaid expenses and other current assets on our Consolidated Balance Sheets.

(2) Recognized in other noncurrent assets on our Consolidated Balance Sheets.

Reconciliation of Restricted Cash


	2022		2021
Cash and cash equivalents	$	1,139.0	$	1,271.4
Restricted cash(1)	41.3		33.1
Long-term restricted cash(2)	15.7		15.4
Total cash, cash equivalents and restricted cash	$	1,196.0	$	1,319.9

_________________________________________________

(1) Recognized in prepaid expenses and other current assets on our Consolidated Balance Sheets.

(2) Recognized in other noncurrent assets on our Consolidated Balance Sheets.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Income Statement [Abstract]
Net sales	$ 5,927.2	$ 6,010.7	$ 5,089.8
Cost of sales	4,555.1	4,662.9	3,830.3
Gross profit	1,372.1	1,347.8	1,259.5
Selling, general, and administrative expenses	1,681.0	1,709.6	1,514.2
Asset impairments	2.7	6.7	15.5
Gain on sale of assets	0.0	0.0	(32.4)
Operating loss	(311.6)	(368.5)	(237.8)
Interest (income) expense and other, net	(9.5)	26.9	32.1
Loss from continuing operations before income taxes	(302.1)	(395.4)	(269.9)
Income tax expense (benefit)	11.0	(14.1)	(55.3)
Net loss from continuing operations	(313.1)	(381.3)	(214.6)
Loss from discontinued operations, net of tax	0.0	0.0	(0.7)
Net loss	$ (313.1)	$ (381.3)	$ (215.3)
Net loss per share:
Basic loss per share (in dollars per share)	$ (1.03)	$ (1.31)	$ (0.83)
Diluted loss per share (in dollars per share)	$ (1.03)	$ (1.31)	$ (0.83)
Weighted-average shares outstanding:
Basic (in shares)	304.2	290.4	260.0
Diluted (in shares)	304.2	290.4	260.0

Income Taxes - Provision for Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Current tax (benefit) expense:
Federal	$ (2.1)	$ (13.2)	$ (154.9)
State	4.0	7.6	(1.5)
Foreign	11.7	7.8	18.8
Current tax (benefit) expense	13.6	2.2	(137.6)
Deferred tax (benefit) expense:
Federal	0.0	0.0	45.5
State	0.0	0.0	7.6
Foreign	(2.6)	(16.3)	29.2
Deferred tax (benefit) expense	(2.6)	(16.3)	82.3
Total income tax expense (benefit)	$ 11.0	$ (14.1)	$ (55.3)

Intangible Assets - Schedule of Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (89.2)	$ (99.6)
Indefinite and Finite-Lived Intangible Assets, Gross Carrying Amount	96.8	111.7
Indefinite and Finite-Lived Intangible Assets, Net Carrying Amount	7.6	12.1
Leasehold rights
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with finite lives, Gross Carrying Amount	70.3	74.7
Accumulated Amortization	(67.9)	(67.9)
Net Carrying Amount	2.4	6.8
Other
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with finite lives, Gross Carrying Amount	21.3	31.7
Accumulated Amortization	(21.3)	(31.7)
Net Carrying Amount	0.0	0.0
Digital Assets
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives, Gross Carrying Amount	0.1	0.0
Accumulated Amortization	0.0	0.0
Trade names
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives, Gross Carrying Amount	5.1	5.3
Accumulated Amortization	$ 0.0	$ 0.0

Revenue - Sales of Total Net Sales by Significant Product Category (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Product Information [Line Items]
Net sales	$ 5,927.2	$ 6,010.7	$ 5,089.8
Hardware and accessories
Product Information [Line Items]
Net sales	3,140.0	3,171.7	2,530.8
Software
Product Information [Line Items]
Net sales	1,822.6	2,014.8	1,979.1
Collectibles
Product Information [Line Items]
Net sales	$ 964.6	$ 824.2	$ 579.9

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 4
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Common Stock and Share-Based Compensation (Tables)

12 Months Ended

Jan. 28, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Company's Restricted Stock Awards Activity

The following table presents a summary of our RSAs activity:


	Time-Based Restricted Stock Awards			Performance-Based Restricted Stock Awards(1)
	Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value








Nonvested shares at January 29, 2022	782,444	$	16.29	772,540	$	1.17
Granted	—	$	—	—	$	—
Vested	(410,412)	$	6.70	—	$	—
Forfeited	(92,012)	$	37.43	(772,540)	$	1.17
Nonvested shares at January 28, 2023	280,020	$	23.40	—	$	—

_______________

(1) On March 11, 2022, the Company determined that the performance measures have not been achieved and the performance-based RSA shares have been forfeited.

The following table presents a summary of our RSUs activity:


	Time-Based Restricted Stock Units
	Shares	Weighted- Average Grant Date Fair Value








Nonvested shares at January 29, 2022	3,747,456	$	44.56
Granted	5,536,250	31.43
Vested	(221,687)	42.77
Forfeited	(3,150,641)	39.84
Nonvested shares at January 28, 2023	5,911,378	$	34.84

Common Stock and Share-Based Compensation - Common Stock (Details) $ in Millions	12 Months Ended
	Jan. 28, 2023 vote	Jan. 29, 2022 USD ($) program shares	Jun. 30, 2019 shares
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Number of votes per share \| vote	1
Number of shares sold (in shares)		34,000,000
Gross proceeds from sale of common stock \| $		$ 1,680.0
Fees paid to sales agent \| $		$ 10.1
Sale Of Stock, Number Of Programs \| program		2
Two Thousand Nineteen Sock Incentive Plan
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Number of shares available for grant (in shares)			32,000,000
Two Thousand Eleven Stock Incentive Plan
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Number of shares available for grant (in shares)			0

Property and Equipment (Tables)

12 Months Ended

Jan. 28, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

The following table presents property and equipment, net:


	Estimated Useful Lives (Years)	January 28, 2023		January 29, 2022
Land	N/A	$	0.6	$	4.2
Buildings and leasehold improvements	1-10	437.3		457.8
Fixtures and equipment	3-10	380.1		431.2
Software and hardware	3	306.3		291.2
Construction-in-progress	3-10	19.0		9.0
Total property and equipment		1,143.3		1,193.4
Accumulated depreciation		(1,006.8)		(1,029.8)
Property and equipment, net		$	136.5	$	163.6

Common Stock and Share-Based Compensation

12 Months Ended

Jan. 28, 2023

Share-Based Payment Arrangement [Abstract]

Common Stock and Share-Based Compensation

Common Stock

The holders of Class A Common Stock are entitled to one vote per share on all matters to be voted on by stockholders. Holders of Class A Common Stock will share in any dividend declared by our Board of Directors. In the event of our liquidation, dissolution or winding up, all holders of common stock are entitled to share ratably in any assets available for distribution to holders of shares of common stock.

During fiscal 2021, we sold an aggregate of 34,000,000 shares of our common stock under two at-the-market equity offering programs (the "ATM Transactions"). We generated $1.68 billion in aggregate gross proceeds from sales under the ATM Transactions and paid an aggregate of $10.1 million in commissions to the sales agent, among other legal and administrative fees. These commissions and fees were recognized in additional paid-in capital on our Consolidated Balance Sheets and SG&A expenses in our Consolidated Statements of Operations.

Share-Based Compensation

In June 2022, we adopted the GameStop Corp. 2022 Incentive Plan (the "2022 Plan"), which provides for the grant of equity awards to our officers, associates, consultants, advisors and directors and which replaced the GameStop Corp. 2019 Incentive Plan (the "2019 Incentive Plan") and the Amended and Restated GameStop Corp. 2011 Incentive Plan (the "2011 Plan"). Awards under the 2022 Plan may take the form of stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance awards and other share-based awards, or any combination of the foregoing. The 2022 Plan allows for 32,000,000 shares of Class A Common Stock, plus any shares subject to 2019 Plan awards that expire, are forfeited, canceled or terminated after the adoption of the 2019 Plan. No awards were granted under the 2019 or 2011 Plan after the adoption of the 2022 Plan. We have also granted restricted stock pursuant to certain "inducement" (i.e., non-plan) award agreements, in accordance with NYSE Listing Rule 303A.08. These inducement awards have generally mirrored the terms of restricted stock awards issued under our stockholder approved equity plans.

Stock Options

There were no options granted during fiscal 2022, 2021 and 2020. As of January 28, 2023, there were no outstanding options.

There were no options exercised during fiscal 2022 and 2021 and 553,920 options exercised during fiscal 2020. There were no options outstanding as of January 28, 2023.

Restricted Stock Units

Restricted Stock Units (RSUs) represent a right to receive one share or the value of one share upon the terms and conditions set forth in the applicable plan and award agreement. We grant RSUs to certain of our associates, officers and non-associate directors. We used the stock price on the grant date to estimate the fair value of our RSUs. The grant date fair value of RSUs is amortized to expense on a straight-line basis over the vesting period. The weighted average grant date fair value per share of our RSUs granted during the year was $31.43 in fiscal 2022. RSUs granted in fiscal 2022 are not dividend eligible.

Restricted Stock Award

The fair value of restricted stock awards (RSAs) is recognized as compensation expense on a straight-line basis between the grant date and the date the RSAs become fully vested. We have granted RSAs to certain of our associates, officers and non-associate directors. We estimate the fair value of RSAs on the grant date based on the quoted market price of our common stock.

Shares of restricted stock granted by us are considered to be legally issued and outstanding as of the date of grant, notwithstanding that the shares remain subject to risk of forfeiture if the vesting conditions for such shares are not met and are included in the number of shares of Class A Common Stock outstanding disclosed on the cover page of this annual report on Form 10-K as of March 22, 2023. The total number of shares presented on our consolidated financial statements represents shares of our Class A common stock that are legally issued and outstanding.

Time-based RSAs and RSUs generally vest in installments, generally over a three or four year period following the date of issuance, subject to continued service with us, and subject further to accelerated vesting in the case of retirement eligibility and certain termination events.

Performance-based RSAs vest based on the achievement of certain performance measures. RSAs subject to performance measures may generally be earned in greater or lesser percentages if performance goals are exceeded or not achieved by specified amounts.

The following table presents a summary of our RSAs activity:


	Time-Based Restricted Stock Awards			Performance-Based Restricted Stock Awards(1)
	Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value








Nonvested shares at January 29, 2022	782,444	$	16.29	772,540	$	1.17
Granted	—	$	—	—	$	—
Vested	(410,412)	$	6.70	—	$	—
Forfeited	(92,012)	$	37.43	(772,540)	$	1.17
Nonvested shares at January 28, 2023	280,020	$	23.40	—	$	—

_______________

(1) On March 11, 2022, the Company determined that the performance measures have not been achieved and the performance-based RSA shares have been forfeited.

The following table presents a summary of our RSUs activity:


	Time-Based Restricted Stock Units
	Shares	Weighted- Average Grant Date Fair Value








Nonvested shares at January 29, 2022	3,747,456	$	44.56
Granted	5,536,250	31.43
Vested	(221,687)	42.77
Forfeited	(3,150,641)	39.84
Nonvested shares at January 28, 2023	5,911,378	$	34.84

In fiscal 2022, 2021 and 2020, there were 6.2 million, 5.2 million and 18.4 million, respectively, of unvested restricted stock and restricted stock units.

In fiscal 2021 and 2020, we granted 742,972 and 8,272,704 shares, respectively, of time-based restricted stock with weighted-average grant date fair values of $29.42 and $1.16, respectively. There were no grants of time-based restricted stock in fiscal 2022. In fiscal 2020, we granted 2,006,448 shares of performance-based restricted stock with a weighted-average grant date fair value of $1.15. There were no grants of performance-based restricted stock in fiscal 2022 and 2021.

During fiscal 2022, 2021 and 2020, we included compensation expense inclusive of forfeitures relating to the grants of restricted share awards and units in the amounts of $40.1 million, $30.5 million and $7.9 million, respectively, in SG&A expenses in our Consolidated Statements of Operations. As of January 28, 2023, there was $4.1 million of unrecognized compensation expense related to nonvested time-based restricted shares that is expected to be recognized over a weighted-average period of 1.8 years. As of January 28, 2023, there was $161.4 million of unrecognized compensation expense related to nonvested time-based restricted stock units that is expected to be recognized over a weighted-average period of 2.9 years.

The total income tax expense, inclusive of excess tax deficiencies and valuation allowances, associated with stock-based compensation was zero, zero and $1.0 million for fiscal 2022, 2021 and 2020, respectively. The total fair value of RSAs and RSUs vested, as of their respective vesting dates, was $12.7 million, $16.8 million, and $5.1 million during fiscal 2022, 2021 and 2020.

Summary of Significant Accounting Policies - Foreign Currency (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Selling General And Administrative Expense
Segment Reporting Information [Line Items]
Foreign currency transaction gain (loss)	$ 2.6	$ 3.4	$ 1.0

Income Taxes - Components of Earnings Before Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Income Tax Disclosure [Abstract]
United States	$ (272.7)	$ (362.7)	$ (224.6)
International	(29.4)	(32.7)	(45.3)
Loss from continuing operations before income taxes	$ (302.1)	$ (395.4)	$ (269.9)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 1,143.3	$ 1,193.4
Accumulated depreciation	(1,006.8)	(1,029.8)
Property and equipment, net	136.5	163.6	$ 201.2
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	0.6	4.2
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 437.3	457.8
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (Years)	1 year
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (Years)	10 years
Fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 380.1	431.2
Fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (Years)	3 years
Fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (Years)	10 years
Software and hardware
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (Years)	3 years
Total property and equipment	$ 306.3	291.2
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 19.0	$ 9.0
Construction-in-progress \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (Years)	3 years
Construction-in-progress \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (Years)	10 years

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Jan. 28, 2023 segment location
Segment Reporting Information [Line Items]
Number of operating segments \| segment	4
United States
Segment Reporting Information [Line Items]
Number of states the entity operates \| location	50

Income Taxes - Certain Prior Year Income Tax Rates (Details)	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal effect	2.30%	3.10%	5.00%
Foreign income tax rate differential	0.20%	0.40%	(3.90%)
Change in valuation allowance	(27.20%)	(33.60%)	(41.80%)
Change in unrecognized tax benefits	(0.40%)	(1.40%)	0.00%
Withholding tax expense	(0.30%)	(0.30%)	(0.30%)
Stock-based compensation	(0.20%)	6.40%	0.00%
U.S. impact of foreign operations	0.00%	0.00%	7.60%
Incremental benefit of net operating loss carryback	1.10%	3.60%	23.50%
Loss on worthless debt and related investment	0.00%	5.50%	10.70%
Other (including permanent differences)	(0.10%)	(1.10%)	(1.30%)
Effective income tax rate reconciliation	(3.60%)	3.60%	20.50%
Effective income tax rate reconciliation, other	5.00%	5.00%	5.00%

Summary of Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 1,139.0	$ 1,271.4
Restricted cash	41.3	33.1
Long-term restricted cash	15.7	15.4
Total cash, cash equivalents and restricted cash	$ 1,196.0	$ 1,319.9	$ 635.0	$ 513.5

General Information (Details)		12 Months Ended
General Information (Details)	Jul. 06, 2022 $ / shares	Jan. 28, 2023 segment $ / shares	Jan. 29, 2022 $ / shares
Accounting Policies [Abstract]
Number of operating segments \| segment		4
Stock split	4
Class A common stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001	$ 0.001