Credit Facilities (Tables)

12 Months Ended

Jan. 28, 2023

Schedule of Outstanding Balances Under our Credit Facilities


	JANUARY 28,							JANUARY 29,
	2023							2022
				UNAMORTIZED						UNAMORTIZED
				DEBT		NET				DEBT		NET
	INTEREST	OUTSTANDING		ISSUANCE		CARRYING		OUTSTANDING		ISSUANCE		CARRYING
	RATE⁽¹⁾	AMOUNT		COSTS		AMOUNT		AMOUNT		COSTS		AMOUNT

	(dollars in thousands)
Asset based credit facility⁽²⁾	5.79%	$	—	$	—	$	—	$	—	$	—	$	—
Term loan B⁽³⁾	6.88%		1,975,000		(18,471)		1,956,529		1,995,000		(21,797)		1,973,203
Term loan B-2⁽⁴⁾	7.67%		498,750		(24,505)		474,245		—		—		—
Equipment promissory notes⁽⁵⁾	4.56%		1,160		—		1,160		14,785		(31)		14,754
Total credit facilities		$	2,474,910	$	(42,976)	$	2,431,934	$	2,009,785	$	(21,828)	$	1,987,957

(1)	The interest rates for the asset based credit facility, term loans and equipment promissory notes represent the weighted-average interest rates as of January 28, 2023.

(2)

Deferred financing fees associated with the asset based credit facility as of January 28, 2023 and January 29, 2022 were $3.5 million and $4.1 million, respectively, and are included in other non-current assets on the consolidated balance sheets. The deferred financing fees are amortized on a straight-line basis over the life of the revolving line of credit, which has a maturity date of July 29, 2026.

(3)

Represents the outstanding balance of the Term Loan B (defined below) under the Term Loan Credit Agreement, of which outstanding amounts of $1,955 million and $20 million were included in term loan B—net and other current liabilities, respectively, on the consolidated balance sheets as of January 28, 2023. Outstanding amounts of $1,975 million and $20 million were included in term loan—net and other current liabilities, respectively, on the consolidated balance sheets as of January 29, 2022. The maturity date of the Term Loan Credit Agreement is October 20, 2028.

(4)

Represents the outstanding balance of the Term Loan B-2 (defined below) under the Term Loan Credit Agreement, of which outstanding amounts of $494 million and $5.0 million were included in term loan B-2—net and other current liabilities, respectively, on the consolidated balance sheets as of January 28, 2023. The maturity date of the Term Loan Credit Agreement is October 20, 2028.

(5)

Represents the net carrying amount of equipment security notes secured by certain of our property and equipment. The remaining $1.2 million outstanding balance, included in other current liabilities on the consolidated balance sheets as of January 28, 2023, represents principal payments due in fiscal 2023. Outstanding amounts of $14 million were included in other current liabilities on the consolidated balance sheets as of January 29, 2022.