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Fair Value (Tables)

3 Months Ended

Apr. 29, 2023

Fair Value Disclosures [Abstract]

Company's Assets and Liabilities Measured at Fair Value

The three levels of the hierarchy and the distribution of the Company’s assets measured at fair value on a recurring basis, as of April 29, 2023 and January 28, 2023, were as follows:

			Assets and Liabilities at Fair Value as of April 29, 2023
(in thousands)			Level 1						Level 2						Level 3						Total
Assets:
Cash equivalents (1)			$	52,383					$	9,900					$	—					$	62,283
Derivative instruments (2)			—						7						—						7
Rabbi Trust assets (3)			1						52,014						—						52,015
Restricted cash equivalents (1)			1,373						5,191						—						6,564
Total assets			$	53,757					$	67,112					$	—					$	120,869
Liabilities:
Derivative instruments (2)			$	—					$	4,139					$	—					$	4,139
Total liabilities			$	—					$	4,139					$	—					$	4,139

			Assets and Liabilities at Fair Value as of January 28, 2023
(in thousands)			Level 1						Level 2						Level 3						Total
Assets:
Cash equivalents (1)			$	50,364					$	—					$	—					$	50,364
Derivative instruments (2)			—						32						—						32
Rabbi Trust assets (3)			1						51,681						—						51,682
Restricted cash equivalents (1)			1,690						5,174						—						6,864
Total assets			$	52,055					$	56,887					$	—					$	108,942
Liabilities:
Derivative instruments (2)			$	—					$	4,986					$	—					$	4,986
Total liabilities			$	—					$	4,986					$	—					$	4,986

(1)    Level 1 assets consisted of investments in money market funds and U.S. treasury bills. Level 2 assets consisted of time deposits.

(2)    Level 2 assets consisted primarily of foreign currency exchange forward contracts.

(3)    Level 1 assets consisted of investments in money market funds. Level 2 assets consisted of trust-owned life insurance policies.

Fair Value of long-term borrowings

The carrying amount and fair value of the Company’s long-term gross borrowings were as follows:

(in thousands)			April 29, 2023						January 28, 2023
Gross borrowings outstanding, carrying amount			$	299,730					$	299,730
Gross borrowings outstanding, fair value			304,975						304,975

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- References

No definition available.

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X

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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