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Defined Benefit Plans | 6 Months Ended
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Jul. 29, 2017
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans 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. As a non-qualified pension plan, no dedicated funding of the SERP is required; however, the Company has made 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, if any, may vary depending on investment performance of the trust. The cash surrender values of the insurance policies were $61.6 million and $58.6 million as of July 29, 2017 and January 28, 2017, 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 $1.9 million and $3.8 million in other income during the three and six months ended July 29, 2017, respectively, and unrealized gains of $1.9 million and $5.1 million in other income during the three and six months ended July 30, 2016, respectively. The projected benefit obligation was $53.6 million and $53.5 million as of July 29, 2017 and January 28, 2017, respectively, 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 and $0.8 million were made during the three and six months ended July 29, 2017, respectively. SERP benefit payments of $0.4 million and $0.8 million were made during the three and six months ended July 30, 2016, respectively. 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 July 29, 2017 and January 28, 2017, the plan had a projected benefit obligation of $19.0 million and $17.6 million, respectively, and plan assets held at the independent investment fiduciary of $15.4 million and $14.1 million, respectively. The net liability of $3.6 million and $3.5 million was included in other long-term liabilities in the Company’s condensed consolidated balance sheets as of July 29, 2017 and January 28, 2017, respectively. The components of net periodic defined benefit pension cost for the three and six months ended July 29, 2017 and July 30, 2016 related to the Company’s defined benefit plans are as follows (in thousands):
| Three Months Ended July 29, 2017
| SERP |  | Swiss Pension Plan |  | Total
Service cost | $ | — |  |  | $ | 469 |  |  | $ | 469 |
Interest cost | 460 |  |  | 20 |  |  | 480 |
Expected return on plan assets | — |  |  | (46 | ) |  | (46 | )
Net amortization of unrecognized prior service credit | — |  |  | (6 | ) |  | (6 | )
Net amortization of actuarial losses | 38 |  |  | 73 |  |  | 111 |
Net periodic defined benefit pension cost | $ | 498 |  |  | $ | 510 |  |  | $ | 1,008 |
| Six Months Ended July 29, 2017
| SERP |  | Swiss Pension Plan |  | Total
Service cost | $ | — |  |  | $ | 960 |  |  | $ | 960 |
Interest cost | 921 |  |  | 42 |  |  | 963 |
Expected return on plan assets | — |  |  | (95 | ) |  | (95 | )
Net amortization of unrecognized prior service credit | — |  |  | (13 | ) |  | (13 | )
Net amortization of actuarial losses | 76 |  |  | 152 |  |  | 228 |
Net periodic defined benefit pension cost | $ | 997 |  |  | $ | 1,046 |  |  | $ | 2,043 |
| Three Months Ended July 30, 2016
| SERP |  | Swiss Pension Plan |  | Total
Service cost | $ | — |  |  | $ | 392 |  |  | $ | 392 |
Interest cost | 460 |  |  | 22 |  |  | 482 |
Expected return on plan assets | — |  |  | (47 | ) |  | (47 | )
Net amortization of unrecognized prior service credit | — |  |  | (7 | ) |  | (7 | )
Net amortization of actuarial losses | 38 |  |  | 47 |  |  | 85 |
Net periodic defined benefit pension cost | $ | 498 |  |  | $ | 407 |  |  | $ | 905 |
| Six Months Ended July 30, 2016
| SERP |  | Swiss Pension Plan |  | Total
Service cost | $ | — |  |  | $ | 771 |  |  | $ | 771 |
Interest cost | 920 |  |  | 44 |  |  | 964 |
Expected return on plan assets | — |  |  | (93 | ) |  | (93 | )
Net amortization of unrecognized prior service credit | — |  |  | (14 | ) |  | (14 | )
Net amortization of actuarial losses | 77 |  |  | 94 |  |  | 171 |
Net periodic defined benefit pension cost | $ | 997 |  |  | $ | 802 |  |  | $ | 1,799 |

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