Company: SPWH
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000950170-25-048890
Chunk: 397

Company: SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 397
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 The Company is eligible to receive a profit share from certain of its banking partners based on the annual performance of their corresponding portfolio, and the Company receives monthly payments based on forecasts of full-year performance. This is a form of variable consideration. The Company records such profit share as revenue over time using the most likely amount method, which reflects the amount earned each month when it is determined that the likelihood of a significant revenue reversal is not probable, which is typically monthly. Profit-share payments occur monthly, shortly after the end of each program month.Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Sales returnsThe Company allows customers to return items purchased within 30 days provided the merchandise is in resaleable condition with original packaging and the original sales/gift receipt is presented. The Company estimates a 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, $