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Trade Accounts Payable and Accrued Expenses

12 Months Ended

Feb. 01, 2025

Payables and Accruals [Abstract]

Trade Accounts Payable and Accrued Expenses

5.  Trade Accounts Payable and Accrued Expenses

Trade accounts payable and accrued expenses consist of the following:

​

​	​	​	​	​	​	​
(in thousands of dollars)		February 1, 2025			February 3, 2024
Trade accounts payable	​	$	601,175	​	$	562,408
Accrued expenses:	​		​	​		​
Taxes, other than income	​		48,161	​		58,063
Salaries, wages and employee benefits	​		78,542	​		84,522
Liability to customers	​		47,184	​		61,039
Interest	​		7,281	​		3,726
Rent	​		1,433	​		1,778
Other	​		11,247	​		11,009
​	​	$	795,023	​	$	782,545

​

Supplier Finance Program

The Company has a supplier finance program, whereby participating suppliers have the option of payment in advance of an invoice due date, which is paid by certain administering banks, on the basis of invoices that the Company has confirmed as valid and approved. The Company agrees to pay the administering bank the stated amount of confirmed invoices from its designated suppliers on the Company’s standard payment terms or on the original due dates of the invoices, as applicable. The Company’s suppliers are not required to participate in the supplier finance program.

The early payment transactions between the Company’s supplier and the administering bank are subject to an agreement between those parties, and the Company does not participate in any financial aspect of the agreement between the Company’s supplier and the administering bank. The Company has not pledged assets or any other security for the committed payment to the administering bank. The Company or the administering bank may terminate the agreement upon at least 30 days’ notice.

A reconciliation of the amount of obligations confirmed under the program that remain unpaid by the Company is presented below:

​

​	​	​	​	​	​	​
(in thousands of dollars)	​	Fiscal 2024		​	Fiscal 2023
Confirmed obligations outstanding under the program	​	$	1,599	​	$	1,791
Invoices confirmed during the year	​	​	20,742	​	​	24,125
Confirmed invoices paid during the year	​	​	(20,957)	​	​	(24,317)
Confirmed obligations outstanding at the end of the year	​	$	1,384	​	$	1,599

​

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- Definition

The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 720
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483384/720-30-45-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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X

- References

No definition available.

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