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Fair Value Measurements (Tables)

9 Months Ended

Oct. 29, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The fair values of financial assets and liabilities measured and recorded at fair value on a recurring basis were presented in the Balance Sheets as follows:

			October 29, 2023																								January 29, 2023
(in thousands)			Total						(Level 1)						(Level 2)						(Level 3)						Total						(Level 1)						(Level 2)						(Level 3)
Financial assets:
Interest rate swap agreement			$	20,603					$	—					$	20,603					$	—					$	6,067					$	—					$	6,067					$	—
Total return swap contracts			—						—						—						—						91						—						91						—
Convertible debt investments			12,725						—						—						12,725						13,995						—						—						13,995
Foreign currency forward contracts			—						—						—						—						717						—						717						—
Total financial assets			$	33,328					$	—					$	20,603					$	12,725					$	20,870					$	—					$	6,875					$	13,995
Financial liabilities:
Interest rate swap agreement			—						—						—						—						6,432						—						6,432						—
Total return swap contracts			419						—						419						—						—						—						—						—
Total financial liabilities			$	419					$	—					$	419					$	—					$	6,432					$	—					$	6,432					$	—

Fair Value, Assets Measured on Recurring Basis

The following table presents a reconciliation of the changes in convertible debt investments in the nine months ended October 29, 2023:

(in thousands)
Balance at January 29, 2023						$	13,995
Increase in credit loss reserve						(610)
Interest accrued						611
Conversion to equity						(1,271)
Balance at October 29, 2023						$	12,725

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table displays the carrying values and fair values of the 2027 Notes and 2028 Notes:

												October 29, 2023												January 29, 2023
(in thousands)						Fair Value Hierarchy						Carrying Value						Fair Value						Carrying Value						Fair Value
1.625% convertible senior notes due 2027, net (1)						Level 2						309,961						309,961						308,150						345,075
4.00% convertible senior notes due 2028, net (2)						Level 2						241,448						228,606						—						—
Total long-term debt, net of debt issuance costs												$	551,409					$	538,567					$	308,150					$	345,075

(1) The 1.625% convertible senior notes due 2027, net, are reflected net of $9.5 million and $11.4 million of unamortized debt issuance costs as of October 29, 2023 and January 29, 2023, respectively.

(2) The 4.00% convertible senior notes due 2028, net, are reflected net of $8.6 million of unamortized debt issuance costs as of October 29, 2023.

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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