v3.26.1
Acquisition of Foot Locker (Tables)
 3 Months Ended
May 02, 2026
Business Combination [Abstract]  
Preliminary Purchase Price Allocation
The Transaction is accounted for as a business combination under the acquisition method in accordance with ASC 805, Business Combinations. The following table summarizes the preliminary purchase price allocation of the estimated fair values of assets acquired and liabilities assumed as of September 8, 2025:
(in thousands)September 8, 2025
Cash and cash equivalents$484,882 
Accounts receivable and other receivables147,432 
Inventories1,718,069 
Prepaid expenses and other current assets233,693 
Property and equipment706,305 
Operating lease assets1,876,206 
Intangible assets710,000 
Goodwill572,829 
Deferred income tax assets77,471 
Other assets144,264 
Accounts payable(590,654)
Accrued expenses(482,704)
Current operating lease liabilities(443,533)
Deferred revenue and other liabilities(113,509)
Long-term debt and financing lease obligations(420,760)
Long-term operating lease liabilities(1,876,709)
Deferred income tax liabilities(167,295)
Other long-term liabilities(63,325)
Total preliminary purchase price$2,512,662 
Goodwill
The following table presents changes in the carrying amount of goodwill recorded in the Company’s Consolidated Balance Sheets, summarized by reportable segment, including amounts recognized as part of the Transaction within the Foot Locker reportable segment (in thousands):
DICK’SFoot LockerTotal
Balance as of January 31, 2026$245,857 $618,190 $864,047 
Measurement period adjustments— (46,011)(46,011)
Currency translation— (4,967)(4,967)
Balance as of May 2, 2026$245,857 $567,212 $813,069 
Unaudited pro forma financial information
The following unaudited proforma combined financial information presents the combined results of the Company as if the Transaction had been completed on February 4, 2024. The unaudited proforma combined financial information is provided for informational purposes only and may not be indicative of the operating results that would have occurred if the Transaction had occurred on February 4, 2024, nor is it indicative of the future results of the Company following the Transaction.
13 Weeks Ended
(in thousands, except per share amounts)May 3,
2025
Net sales$4,968,767 
Net income$43,778 
Basic earnings per common share$0.49 
Diluted earnings per common share$0.48