XML 36 R23.htm IDEA: XBRL DOCUMENT
v3.25.2

Defined Benefit Plans | 6 Months Ended
--- | ---
Aug. 02, 2025
Retirement Benefits [Abstract] |
Defined Benefit Plans | Defined Benefit Plans Supplemental Executive Retirement Plan The Company’s Supplemental Executive Retirement Plan (“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 cash surrender values of the insurance policies were $64.4 million and $63.8 million as of August 2, 2025 and February 1, 2025, 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 $1.5 million and $1.7 million in other income (expense) during the three and six months ended August 2, 2025, respectively, and unrealized gains of $2.5 million and $2.2 million in other income (expense) during the three and six months ended August 3, 2024, respectively. The projected benefit obligation was $33.5 million and $33.8 million as of August 2, 2025 and February 1, 2025, respectively, and was included in accrued expenses and other current liabilities and other long-term liabilities in the Company’s condensed consolidated balance sheets depending on the expected timing of payments. SERP benefit payments of $0.5 million were made during each of the three months ended August 2, 2025 and August 3, 2024. SERP benefit payments of $1.1 million and $1.0 million were made during the six months ended August 2, 2025 and August 3, 2024, respectively. Foreign Pension Plans In certain foreign jurisdictions, primarily in Switzerland, the Company is required to guarantee the returns on Company-sponsored defined contribution plans in accordance with local regulations. 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 August 2, 2025 and February 1, 2025, the foreign pension plans had a total projected benefit obligation of $76.0 million and $65.3 million, respectively, and plan assets held in independent investment fiduciaries of $62.2 million and $53.5 million, respectively. The net liability of $13.8 million and $11.8 million was included in other long-term liabilities in the Company’s condensed consolidated balance sheets as of August 2, 2025 and February 1, 2025, respectively. The components of net periodic defined benefit pension cost to AOCL related to the Company’s defined benefit plans are (in thousands):
| SERP |  | Foreign Pension Plans |  | Total
| Three Months Ended Aug 2, 2025
Service cost | $ | — |  |  | $ | 1,413 |  |  | $ | 1,413 |
Interest cost | 439 |  |  | 168 |  |  | 607 |
Expected return on plan assets | — |  |  | (205) |  |  | (205) |
Net amortization of unrecognized prior service credit | — |  |  | (47) |  |  | (47) |
Net amortization of actuarial (gains) losses | (114) |  |  | 148 |  |  | 34 |
Net periodic defined benefit pension cost | $ | 325 |  |  | $ | 1,477 |  |  | $ | 1,802 |
| SERP |  | Foreign Pension Plans |  | Total
| Six Months Ended Aug 2, 2025
Service cost | $ | — |  |  | $ | 2,737 |  |  | $ | 2,737 |
Interest cost | 878 |  |  | 325 |  |  | 1,203 |
Expected return on plan assets | — |  |  | (398) |  |  | (398) |
Net amortization of unrecognized prior service credit | — |  |  | (92) |  |  | (92) |
Net amortization of actuarial (gains) losses | (228) |  |  | 286 |  |  | 58 |
Net periodic defined benefit pension cost | $ | 650 |  |  | $ | 2,858 |  |  | $ | 3,508 |
| Three Months Ended Aug 3, 2024
Service cost | $ | — |  |  | $ | 1,053 |  |  | $ | 1,053 |
Interest cost | 442 |  |  | 240 |  |  | 682 |
Expected return on plan assets | — |  |  | (214) |  |  | (214) |
Net amortization of unrecognized prior service credit | — |  |  | (40) |  |  | (40) |
Net amortization of actuarial (gains) losses | (44) |  |  | 40 |  |  | (4) |
Net periodic defined benefit pension cost | $ | 398 |  |  | $ | 1,079 |  |  | $ | 1,477 |
| Six Months Ended Aug 3, 2024
Service cost | $ | — |  |  | $ | 2,112 |  |  | $ | 2,112 |
Interest cost | 883 |  |  | 481 |  |  | 1,364 |
Expected return on plan assets | — |  |  | (429) |  |  | (429) |
Net amortization of unrecognized prior service credit | — |  |  | (80) |  |  | (80) |
Net amortization of actuarial (gains) losses | (87) |  |  | 80 |  |  | (7) |
Net periodic defined benefit pension cost | $ | 796 |  |  | $ | 2,164 |  |  | $ | 2,960 |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (o) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (p) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (q) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 60 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480266/715-60-50-3 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 70 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480794/715-70-50-1 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration