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Long-Term Debt (Tables) | 6 Months Ended
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Jul. 31, 2022
Debt Instruments [Abstract] |
Schedule of Long-term Debt | Long-term debt and the current period interest rates were as follows:
(in thousands, except percentages) | July 31, 2022 |  | January 30, 2022
Revolving loans | $ | 173,000 |  |  | $ | 173,000 |
Debt issuance costs | (1,083) |  |  | (1,324) |
Total long-term debt, net of debt issuance costs | $ | 171,917 |  |  | $ | 171,676 |
Effective interest rate (1) | 2.13 | % |  | 1.90 | %
(1) The revolving loans bear interest at a variable rate based on LIBOR or a Base Rate, at the Company’s option, plus an applicable margin that varies based on the Company’s consolidated leverage ratio. In the first quarter of fiscal year 2021, the Company entered into a three-year interest rate swap agreement that fixed the interest on the first $150.0 million of debt outstanding under the revolving loans at 1.9775%. As of July 31, 2022, the effective interest rate was a weighted-average rate that represented (a) interest on the first $150.0 million of the debt outstanding at a fixed LIBOR rate of 0.7275% plus a margin of 1.25% (total fixed rate of 1.9775%), and (b) interest on the remainder of the debt outstanding at a variable rate based on the one-month LIBOR rate, which was 1.88% as of July 31, 2022, plus a margin of 1.25% (total variable rate of 3.13%). As of January 30, 2022, the effective interest rate was a weighted-average rate that represented (a) interest on the first $150.0 million of the debt outstanding at a fixed LIBOR rate of 0.7275% plus a margin of 1.25% (total fixed rate of 1.9775%), and (b) interest on the remainder of the debt outstanding at a variable rate based on the one-month LIBOR rate, which was 0.11% as of January 30, 2022, plus a margin of 1.25% (total variable rate of 1.36%).
Schedule Of Interest Expense | Interest expense was comprised of the following components for the periods presented:
| Three Months Ended |  | Six Months Ended
(in thousands) | July 31, 2022 |  | August 1, 2021 |  | July 31, 2022 |  | August 1, 2021
Contractual interest (1) | $ | 1,139 |  |  | $ | 1,065 |  |  | $ | 2,215 |  |  | $ | 2,143 |
Amortization of debt discount and issuance costs | 120 |  |  | 120 |  |  | 241 |  |  | 241 |
Total interest expense | $ | 1,259 |  |  | $ | 1,185 |  |  | $ | 2,456 |  |  | $ | 2,384 |
(1) Contractual interest represents the interest on the Company's outstanding debt after giving effect to the interest rate swap agreement.

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