XML 64 R47.htm IDEA: XBRL DOCUMENT v3.26.1
Retirement Plans and Other Benefits (Tables)
 12 Months Ended
Jan. 31, 2026
Retirement Benefits [Abstract]  
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
The following tables set forth changes in benefit obligations and plan assets, funded status, and amounts recognized in the Consolidated Balance Sheet related to the Foot Locker pension plans from the date of acquisition (in thousands):
2025
Change in benefit obligation:
Benefit obligation as of September 8, 2025$408,362 
Service cost38 
Interest cost7,884 
Actuarial gains(5,075)
Foreign currency translation adjustments710 
Benefits paid(9,955)
Benefit obligation as of January 31, 2026$401,964 
Change in plan assets:
Fair value of plan assets as of September 8, 2025$400,218 
Actual return on plan assets15,783 
Employer contributions1,564 
Foreign currency translation adjustments774 
Benefits paid(9,955)
Fair value of plan assets as of January 31, 2026$408,384 
Funded status$6,420 
Amounts recognized on Consolidated Balance Sheet
Other assets$13,778 
Accrued expenses(1,919)
Other long-term liabilities(5,439)
Net amount recognized$6,420 
Defined Benefit Plan, Assumptions
The following assumptions were used to determine net benefit cost or income:
2025
Discount rate5.2 %
Rate of compensation increase (1)
3.0 %
Expected long-term rate of return on assets5.8 %
(1)The rate of compensation increase relates only to the Canadian pension plan, as the other plans are frozen.
Schedule of Net Benefit Costs The following table presents the components of net pension benefit cost (income) (in thousands):
2025
Service cost$38 
Interest cost7,884 
Expected return on plan assets(8,673)
Net benefit income$(751)
Schedule of Allocation of Plan Assets
The fair values of pension plan assets as of January 31, 2026 were as follows (in thousands):
Level 1Level 2Level 32025 Total
Cash equivalents$— $16,954 $— $16,954 
Commingled funds:
Equity securities— 121,813 — 121,813 
Fixed-income securities— 180,552 — 180,552 
Real estate securities— 9,259 — 9,259 
Mutual funds and ETF55,581 — — 55,581 
Fixed-income securities— 23,985 — 23,985 
Insurance contract— 158 — 158 
Other— 82 — 82 
Net benefit expense$55,581 $352,803 $— $408,384 
Schedule of Expected Benefit Payments
Estimated future benefit payments for each of the next five years and the five years thereafter are as follows:
Fiscal Year
2026$46,512 
2027$35,733 
2028$34,545 
2029$32,797 
2030$31,164 
2031 - 2035$140,695