| Prepaid Expense and Other Assets |
NOTE 3—PREPAID EXPENSE AND OTHER ASSETS Prepaid expense and other current assets consist of the following: | | | | | | | | | OCTOBER 29, | | JANUARY 29, | | | 2022 | | 2022 | | | | (in thousands) | Federal and state tax receivable(1) | | $ | 82,310 | | $ | — | Promissory notes receivable, including interest(2) | | | 35,463 | | | 8,401 | Other current assets | | | 28,094 | | | 9,355 | Capitalized catalog costs | | | 23,337 | | | 22,194 | Vendor deposits | | | 23,227 | | | 19,610 | Prepaid expenses | | | 19,309 | | | 31,502 | Tenant allowance receivable | | | 8,686 | | | 15,355 | Value added tax (VAT) receivable | | | 7,831 | | | 4,529 | Right of return asset for merchandise | | | 5,990 | | | 6,429 | Acquisition related escrow deposits | | | — | | | 3,975 | Total prepaid expense and other current assets | | $ | 234,247 | | $ | 121,350 |
| (1) | Refer to Note 12—Income Taxes. |
| (2) | Represents promissory notes, including principal and accrued interest, due from a related party. Refer to Note 5—Variable Interest Entities. |
Other non-current assets consist of the following: | | | | | | | | | OCTOBER 29, | | JANUARY 29, | | | 2022 | | 2022 | | | | (in thousands) | Initial direct costs prior to lease commencement | | $ | 41,849 | | $ | 57,087 | Landlord assets under construction—net of tenant allowances | | | 37,892 | | | 204,013 | Capitalized cloud computing costs—net(1) | | | 20,927 | | | 14,910 | Other deposits | | | 6,889 | | | 6,877 | Deferred financing fees | | | 3,436 | | | 4,123 | Other non-current assets | | | 16,513 | | | 11,139 | Total other non-current assets | | $ | 127,506 | | $ | 298,149 |
| (1) | Presented net of accumulated amortization of $8.8 million and $4.0 million as of October 29, 2022 and January 29, 2022, respectively. |
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