Defined Benefit Plans (Tables)

12 Months Ended

Jan. 30, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Schedule of net periodic defined benefit pension cost and other charges to comprehensive income (loss)

The components of net periodic defined benefit pension cost to comprehensive income (loss) for fiscal 2016, fiscal 2015 and fiscal 2014 related to the SERP are as follows (in thousands):



	Year Ended			Year Ended			Year Ended
	Jan 30, 2016			Jan 31, 2015			Feb 1, 2014
Interest cost	$	1,986		$	2,289		$	2,345
Net amortization of unrecognized prior service (credit) cost	(97		)	(233		)	194
Net amortization of actuarial losses	740			938			1,108
Curtailment gain	(1,651		)	—			—
Net periodic defined benefit pension cost	$	978		$	2,994		$	3,647
Unrecognized prior service (credit) cost charged to comprehensive income (loss)	$	(97	)	$	(233	)	$	194
Unrecognized net actuarial loss charged to comprehensive income (loss)	740			938			1,108
Curtailment gain	(1,651		)	—			—
Actuarial gains (losses)	8,707			(6,142		)	1,751
Plan amendment	—			—			4,529
Related tax impact	(2,945		)	2,080			(2,963		)
Total periodic defined benefit pension cost and other charges to comprehensive income (loss)	$	4,754		$	(3,357	)	$	4,619

Schedule of accumulated other comprehensive income (loss), before tax, that have not yet been recognized in net periodic defined benefit pension cost

Included in accumulated other comprehensive income (loss), before tax, as of January 30, 2016 and January 31, 2015 are the following amounts that have not yet been recognized in net periodic defined benefit pension cost (in thousands):



	Jan 30, 2016		Jan 31, 2015
Unrecognized prior service credit (1)	$	—	$	(1,748	)
Unrecognized net actuarial loss (1)	8,731		18,178
Total included in accumulated other comprehensive loss	$	8,731	$	16,430

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(1)

In fiscal 2016, the Company amended the SERP to effectively eliminate any future salary progression by finalizing compensation levels for future benefits. Subsequent to this amendment, there are no employees considered actively participating under the terms of the SERP. As a result, the Company recorded an unrecognized actuarial gain of $11.4 million before taxes and also recognized a curtailment gain of $1.7 million before taxes related to the accelerated amortization of the remaining prior service credit during fiscal 2016.

Schedule of SERP's funded status and the amounts recognized in the Company's consolidated balance sheets

The following chart summarizes the SERP’s funded status and the amounts recognized in the Company’s consolidated balance sheets (in thousands):



	Jan 30, 2016			Jan 31, 2015
Projected benefit obligation (1)	$	(53,443	)	$	(61,862	)
Plan assets at fair value (2)	—			—
Net liability	$	(53,443	)	$	(61,862	)

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(1)	The projected benefit obligation was included in accrued expenses and other long-term liabilities in the Company’s consolidated balance sheets depending on the expected timing of payments.


(2)	The SERP is a non-qualified pension plan and hence the insurance policies are not considered to be plan assets. Accordingly, the table above does not include the insurance policies with cash surrender values of $52.5 million and $53.6 million as of January 30, 2016 and January 31, 2015, respectively.

Schedule of reconciliation of the changes in the projected benefit obligation

A reconciliation of the changes in the projected benefit obligation for fiscal 2016 and fiscal 2015 is as follows (in thousands):



	Projected Benefit Obligation
Balance at February 1, 2014	$	54,704
Interest cost	2,289
Actuarial losses	6,142
Payments	(1,273		)
Balance at January 31, 2015	$	61,862
Interest cost	1,986
Actuarial gains	(8,707		)
Payments	(1,698		)
Balance at January 30, 2016	$	53,443