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Long-Term Debt (Tables)
 9 Months Ended
Oct. 30, 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)October 30, 2022January 30, 2022
Revolving loans$150,000 $173,000 
1.625% convertible senior notes due 2027
319,500 — 
Total long-term debt$469,500 $173,000 
Debt issuance costs(14,387)(1,324)
Total long-term debt, net of debt issuance costs$455,113 $171,676 
Weighted-average effective interest rate (1)
1.74 %1.90 %
(1) The revolving loans bear interest at a variable rate based on LIBOR or a Base Rate (as defined herein), 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 LIBOR-referenced portion of interest on the first $150.0 million of debt outstanding under the revolving loans at 0.7275%. As of October 30, 2022, the effective interest rate was a weighted-average rate that represented (a) interest on the Notes outstanding at a fixed rate of 1.625% and (b) interest on the debt outstanding on the revolving loans at a fixed LIBOR rate of 0.7275% plus a margin of 1.25% (total fixed rate of 1.9775%). 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 on the revolving loans 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 on the revolving loans 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 EndedNine Months Ended
(in thousands)October 30, 2022October 31, 2021October 30, 2022October 31, 2021
Contractual interest (1)
$1,475 $1,113 $3,690 $3,256 
Amortization of debt discount and issuance costs279 120 520 361 
Debt commitment fee (2)
7,255 — 7,255 — 
Total interest expense$9,009 $1,233 $11,465 $3,617 
(1) Contractual interest represents the interest on the Company's outstanding debt after giving effect to the interest rate swap agreement.
(2) One-time fee incurred in connection with the Debt Commitment Letter disclosed above.