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Fair Value Disclosures
6 Months Ended
Aug. 01, 2020
Fair Value Disclosures [Abstract]  
Fair Value Disclosures Fair Value Disclosures
 
The estimated fair values of financial instruments presented herein have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required in interpreting
market data to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of amounts the Company could realize in a current market exchange.
 
The fair value of the Company’s long-term debt and subordinated debentures is based on market prices and is categorized as Level 1 in the fair value hierarchy.
 
The fair value of the Company’s cash, cash equivalents, accounts receivable and short-term borrowings approximates their carrying values at August 1, 2020 due to the short-term maturities of these instruments.  The fair value of the Company’s long-term debt at August 1, 2020 was approximately $391 million. The carrying value of the Company’s long-term debt at August 1, 2020 was $365.8 million.  The fair value of the Company’s subordinated debentures at August 1, 2020 was approximately $158 million.  The carrying value of the Company’s subordinated debentures at August 1, 2020 was $200.0 million.