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Defined Benefit Plans | 3 Months Ended
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May 02, 2015
Compensation and Retirement Disclosure [Abstract] |
Defined Benefit Plans | Defined Benefit Plans Supplemental Executive Retirement Plan On August 23, 2005, the Board of Directors of the Company adopted a Supplemental Executive Retirement Plan (“SERP”) which became effective January 1, 2006. The SERP provides select employees who satisfy certain eligibility requirements with certain benefits upon retirement, termination of employment, death, disability or a change in control of the Company, in certain prescribed circumstances. Paul Marciano, Chief Executive Officer and Vice Chairman of the Board, is the only active employee participating in the SERP. As a non-qualified pension plan, no dedicated funding of the SERP is required; however, the Company has made, and may continue to make, periodic payments into insurance policies held in a rabbi trust to fund the expected obligations arising under the non-qualified SERP. The amount of any future payments into the insurance policies may vary, depending on any changes to the estimates of final annual compensation levels and investment performance of the trust. The cash surrender values of the insurance policies were $54.8 million and $53.6 million as of May 2, 2015 and January 31, 2015, respectively, and were included in other assets in the Company’s condensed consolidated balance sheets. As a result of changes in the value of the insurance policy investments, the Company recorded unrealized gains of $2.0 million and $1.6 million in other income during the three months ended May 2, 2015 and May 3, 2014, respectively. During the three months ended May 2, 2015, the Company also recorded realized gains of $0.7 million in other income resulting from payout on the insurance policies. The projected benefit obligation was $61.9 million as of May 2, 2015 and January 31, 2015 and was included in accrued expenses and other long-term liabilities in the Company’s condensed consolidated balance sheets depending on the expected timing of payments. SERP benefit payments of $0.4 million were made during the three months ended May 2, 2015. There were no SERP benefit payments made during the three months ended May 3, 2014. The components of net periodic defined benefit pension cost for the three months ended May 2, 2015 and May 3, 2014 related to the SERP were as follows (in thousands):
| Three Months Ended
| May 2, 2015 |  | May 3, 2014
Interest cost | $ | 496 |  |  | $ | 572 |
Net amortization of unrecognized prior service credit | (58 | ) |  | (58 | )
Net amortization of actuarial losses | 428 |  |  | 234 |
Net periodic defined benefit pension cost | $ | 866 |  |  | $ | 748 |
Swiss Pension Plan In accordance with local regulations, the Company also maintains a pension plan in Switzerland for certain of its employees. The plan is a government-mandated defined contribution plan that provides employees with a minimum investment return determined annually by the Swiss government, and as such, is treated under pension accounting in accordance with authoritative guidance. Under the plan, both the Company and certain of its employees with annual earnings in excess of government determined amounts are required to make contributions into a fund managed by an independent investment fiduciary. The Company’s contributions must be made in an amount at least equal to the employee’s contribution. Minimum employee contributions are based on the respective employee’s age, salary and gender. As of May 2, 2015 and January 31, 2015, the plan had a projected benefit obligation of CHF 14.2 million (US$15.2 million) and CHF 13.9 million (US$15.1 million), respectively, and plan assets held at the independent investment fiduciary of CHF 11.8 million (US$12.6 million) and CHF 11.5 million (US$12.5 million), respectively. The net liability of CHF 2.4 million (US$2.6 million) was included in other long-term liabilities in the Company’s condensed consolidated balance sheets as of May 2, 2015 and January 31, 2015. During the three months ended May 2, 2015, the Company recognized net periodic defined benefit pension cost of CHF 0.4 million (US$0.5 million) resulting from service cost and net amortization of actuarial losses related to the Swiss pension plan.

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