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Defined Benefit Plans
9 Months Ended
Nov. 01, 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 $66.1 million and $63.8 million as of November 1, 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 $2.0 million and $3.7 million in other income (expense) during the three and nine months ended November 1, 2025, respectively, and an unrealized loss of $0.3 million and an unrealized gain of $1.9 million in other income (expense) during the three and nine months ended November 2, 2024, respectively. The projected benefit obligation was $33.6 million and $33.8 million as of November 1, 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 $0.3 million and $0.5 million were made during the three months ended November 1, 2025 and November 2, 2024, respectively. SERP benefit payments of $1.4 million were made during each of the nine months ended November 1, 2025 and November 2, 2024.
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 November 1, 2025 and February 1, 2025, the foreign pension plans had a total projected benefit obligation of $77.2 million and $65.3 million, respectively, and plan assets held in independent investment fiduciaries of $63.1 million and $53.5 million, respectively. The net liability of $14.1 million and $11.8 million was included in other long-term liabilities in the Company’s condensed consolidated balance sheets as of November 1, 2025 and February 1, 2025, respectively.
The components of net periodic defined benefit pension cost to AOCL related to the Company’s defined benefit plans are (in thousands):
SERPForeign Pension PlansTotal
 Three Months Ended Nov 1, 2025
Service cost$— $1,433 $1,433 
Interest cost439 170 609 
Expected return on plan assets— (208)(208)
Net amortization of unrecognized prior service credit— (50)(50)
Net amortization of actuarial (gains) losses(114)151 37 
Net periodic defined benefit pension cost $325 $1,496 $1,821 
 Nine Months Ended Nov 1, 2025
Service cost$— $4,170 $4,170 
Interest cost1,317 495 1,812 
Expected return on plan assets— (606)(606)
Net amortization of unrecognized prior service credit— (142)(142)
Net amortization of actuarial (gains) losses(342)437 95 
Net periodic defined benefit pension cost $975 $4,354 $5,329 
 Three Months Ended Nov 2, 2024
Service cost$— $1,100 $1,100 
Interest cost441 250 691 
Expected return on plan assets— (223)(223)
Net amortization of unrecognized prior service credit— (42)(42)
Net amortization of actuarial (gains) losses(43)41 (2)
Net periodic defined benefit pension cost $398 $1,126 $1,524 
 Nine Months Ended Nov 2, 2024
Service cost$— $3,212 $3,212 
Interest cost1,324 731 2,055 
Expected return on plan assets— (652)(652)
Net amortization of unrecognized prior service credit— (122)(122)
Net amortization of actuarial (gains) losses(130)121 (9)
Net periodic defined benefit pension cost $1,194 $3,290 $4,484