Company: SPWH
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000950170-25-048890
Chunk: 330

Company: SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 2
Chunk 330
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 reserve for sales returns and records the respective reserve amounts, including a right to return asset when a product is expected to be returned and resold. Historical experience of actual returns and customer return rights are the key factors used in determining the estimated sales returns. Contract BalancesThe following table provides information about right of return assets, contract liabilities, sales return liabilities, and accounts receivable with customers as of February 1, 2025 and February 3, 2024: 

          February 1, 2025

          February 3, 2024

          January 28, 2023

          Right of return assets, which are included in prepaid expenses and other
           
          $
          1,732

          $
          1,659

          $
          1,951

          Estimated gift card contract liability, net of breakage

          (30,872
          )

          (30,541
          )

          (29,174
          )

          Estimated loyalty contract liability, net of breakage

          (2,606
          )

          (4,340
          )

          (5,383
          )

          Sales return liabilities, which are included in accrued expenses

          (2,585
          )

          (2,476
          )

          (2,912
          )

          Customer accounts receivable

          267

          272

          743

         For the fiscal years ended February 1, 2025, February 3, 2024, and January 28, 2023, the Company recognized $1,517, $1,655, and $1,573 in gift card breakage, respectively. For the fiscal years ended February 1, 2025, February 3, 2024, and January 28, 2023, the Company recognized $4,598, $3,125, and $3,126, in loyalty reward breakage, respectively. The impact of these adjustments on the statement of cash flow for the year ended February 1, 2025 were recorded in cash provided by operating activities. For the fiscal years ended February 1, 2025, February 3, 2024 and January 28, 2023 the Company recognized $17,986, $19,647, and $20,656, respectively, of revenue related to the beginning contract liability from the previous year. The current balance of the right of return assets is the expected amount of