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Benefit Plans
 6 Months Ended
Jul. 30, 2022
Retirement Benefits [Abstract]  
Benefit Plans

Note 6. Benefit Plans

The Company has an unfunded, nonqualified defined benefit plan (“Pension Plan”) for its officers. The Pension Plan is noncontributory and provides benefits based on years of service and compensation during employment. The Company determines pension expense using an actuarial cost method to estimate the total benefits ultimately payable to officers and allocates this cost to service periods. The actuarial assumptions used to calculate pension costs are reviewed annually. The Company contributed $1.5 million and $3.1 million to the Pension Plan during the three and six months ended July 30, 2022 and expects to make additional contributions to the Pension Plan of approximately $3.3 million during the remainder of fiscal 2022.

The components of net periodic benefit costs are as follows (in thousands):

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Three Months Ended

​

Six Months Ended

​

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July 30,

    

July 31,

    

July 30,

    

July 31,

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2022

​

2021

​

2022

​

2021

Components of net periodic benefit costs:

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Service cost

​

$

1,019

​

$

1,067

​

$

2,038

​

$

2,134

Interest cost

​

 

1,696

​

 

1,438

​

 

3,393

​

 

2,875

Net actuarial loss

​

 

240

​

 

697

​

 

479

​

 

1,394

Net periodic benefit costs

​

$

2,955

​

$

3,202

​

$

5,910

​

$

6,403

​

The service cost component of net periodic benefit costs is included in selling, general and administrative expenses, and the interest cost and net actuarial loss components are included in other expense.