XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.1
Fair Value of Financial Instruments
 12 Months Ended
Feb. 01, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

Note 4 – Fair Value of Financial Instruments

The following table presents financial instruments that are measured at fair value on a recurring basis at February 1, 2025 and February 3, 2024:

 

 

 

Fair Value Measurements

 

(In thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

As of February 1, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents – money market mutual funds

 

$

95,963

 

 

$

0

 

 

$

0

 

 

$

95,963

 

Marketable securities - mutual funds that fund
      deferred compensation

 

 

14,432

 

 

 

0

 

 

 

0

 

 

 

14,432

 

Total

 

$

110,395

 

 

$

0

 

 

$

0

 

 

$

110,395

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of February 3, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents – money market mutual funds

 

$

91,733

 

 

$

0

 

 

$

0

 

 

$

91,733

 

Marketable securities - mutual funds that fund
      deferred compensation

 

 

12,247

 

 

 

0

 

 

 

0

 

 

 

12,247

 

Total

 

$

103,980

 

 

$

0

 

 

$

0

 

 

$

103,980

 

 

See Note 13 – “Employee Benefit Plans” for additional discussion and additional disclosures related to our Marketable Securities that fund deferred compensation. The fair values of Cash and Cash Equivalents, Accounts Receivable, Accounts Payable, Accrued Expenses and Other Current Liabilities approximate their carrying values because of their short-term nature.

 

The fair value of the Shoe Station and Rogan’s brands were estimated using a relief-from-royalty method. The estimates and assumptions used in the determination of the fair value of each brand included their respective projected revenue growth, long-term growth rate, the royalty rate and discount rate.