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v3.24.1

RETIREMENT AND OTHER BENEFIT PLANS (Tables) | 12 Months Ended
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Feb. 03, 2024
Notes Tables |
Schedule of Changes in Projected Benefit Obligations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pension Benefits | ​ | Other Postretirement Benefits
($ thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Benefit obligation at beginning of year | ​ | $ | 285,572 | ​ | $ | 355,286 | ​ | $ | 1,018 | ​ | $ | 1,143
Service cost |  | ​ | 5,020 |  | ​ | 7,143 |  | ​ | — |  | ​ | —
Interest cost |  | ​ | 14,543 |  | ​ | 11,977 |  | ​ | 48 |  | ​ | 35
Plan participants’ contribution |  | ​ | 11 |  | ​ | 10 |  | ​ | 1 |  | ​ | 4
Plan amendments |  | ​ | — |  | ​ | 407 |  | ​ | — |  | ​ | —
Actuarial (gain) loss |  | ​ | (6,773) |  | ​ | (70,775) |  | ​ | (61) |  | ​ | (85)
Benefits paid |  | ​ | (16,149) |  | ​ | (15,440) |  | ​ | (75) |  | ​ | (79)
Settlements |  | ​ | — |  | ​ | (3,032) |  | ​ | — |  | ​ | —
Curtailments |  | ​ | — |  | ​ | 13 |  | ​ | — |  | ​ | —
Foreign exchange rate changes |  | ​ | (49) |  | ​ | (17) |  | ​ | — |  | ​ | —
Benefit obligation at end of year | ​ | $ | 282,175 | ​ | $ | 285,572 | ​ | $ | 931 | ​ | $ | 1,018
Defined Benefit Plan, Assumptions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pension Benefits | Other Postretirement Benefits
Weighted–average assumptions used to determine benefit obligations, end of year |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
Discount rate | ​ | 5.40 | % | 5.20 | % | 5.40 | % | 5.20 | %
Rate of compensation increase |  | 1.70 | % | 3.00 | % | N/A |  | N/A | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pension Benefits | ​ | Other Postretirement Benefits |
Weighted–average assumptions used to determine net periodic benefit income |  | 2023 | ​ | 2022 |  | 2021 | ​ | 2023 | ​ | 2022 |  | 2021 |
Discount rate |  | 5.20 | % | 3.40 | % | 3.10 | % | 5.20 | % | 3.40 | % | 3.10 | %
Rate of compensation increase |  | 3.00 | % | 3.00 | % | 3.00 | % | N/A |  | N/A |  | N/A | ​
Expected return on plan assets |  | 7.50 | % | 7.20 | % | 7.25 | % | N/A |  | N/A |  | N/A | ​
Schedule of Allocation of Plan Assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements at February 3, 2024
($ thousands) |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Asset | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Cash and cash equivalents | ​ | $ | 11,138 | ​ | $ | 11,138 | ​ | $ | — | ​ | $ | —
U.S. government securities | ​ |  | 74,777 | ​ |  | 65,345 | ​ |  | 9,432 | ​ |  | —
Interest rate swap agreements | ​ | ​ | 3,647 | ​ | ​ | — | ​ | ​ | 3,647 | ​ | ​ | —
Mutual fund | ​ |  | 28,114 | ​ |  | 28,114 | ​ |  | — | ​ |  | —
Exchange-traded funds | ​ |  | 128,263 | ​ |  | 128,263 | ​ |  | — | ​ |  | —
Corporate stocks - common | ​ |  | 84,977 | ​ |  | 84,853 | ​ |  | — | ​ |  | 124
Preferred securities | ​ |  | 237 | ​ |  | — | ​ |  | — | ​ |  | 237
S&P 500 Index options | ​ |  | (1,788) | ​ |  | (1,788) | ​ |  | — | ​ |  | —
Total investments in the fair value hierarchy | ​ | $ | 329,365 | ​ | $ | 315,925 | ​ | $ | 13,079 | ​ | $ | 361
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Investments measured at net asset value: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Alternative investment fund | ​ |  | 14,654 | ​ |  | — | ​ |  | — | ​ |  | —
Unallocated insurance contract | ​ |  | 32 | ​ |  | — | ​ |  | — | ​ |  | —
Total investments measured at net asset value | ​ |  | 14,686 | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Total investments at fair value | ​ | $ | 344,051 | ​ | $ | 315,925 | ​ | $ | 13,079 | ​ | $ | 361
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements at January 28, 2023
($ thousands) |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Asset | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Cash and cash equivalents | ​ | $ | 12,962 | ​ | $ | 12,962 | ​ | $ | — | ​ | $ | —
U.S. government securities | ​ |  | 80,522 | ​ |  | 45,872 | ​ |  | 34,650 | ​ |  | —
Interest rate swap agreements | ​ | ​ | (2,793) | ​ | ​ | — | ​ | ​ | (2,793) | ​ | ​ | ​
Mutual fund | ​ |  | 29,548 | ​ |  | 29,548 | ​ |  | — | ​ |  | —
Exchange-traded funds | ​ |  | 92,338 | ​ |  | 92,338 | ​ |  | — | ​ |  | —
Corporate stocks - common | ​ |  | 132,138 | ​ |  | 132,138 | ​ |  | — | ​ |  | —
Preferred securities | ​ |  | 335 | ​ |  | — | ​ |  | — | ​ |  | 335
S&P 500 Index options | ​ |  | (2,634) | ​ |  | (2,634) | ​ |  | — | ​ |  | —
Total investments in the fair value hierarchy | ​ | $ | 342,416 | ​ | $ | 310,224 | ​ | $ | 31,857 | ​ | $ | 335
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments measured at net asset value: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Alternative investment fund | ​ |  | 14,293 | ​ |  | — | ​ |  | — | ​ |  | —
Unallocated insurance contract | ​ |  | 36 | ​ |  | — | ​ |  | — | ​ |  | —
Total investments measured at net asset value | ​ |  | 14,329 | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Total investments at fair value | ​ | $ | 356,745 | ​ | $ | 310,224 | ​ | $ | 31,857 | ​ | $ | 335
Schedule of Changes in Fair Value of Plan Assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pension Benefits | Other Postretirement Benefits
($ thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Fair value of plan assets at beginning of year | ​ | $ | 356,745 | ​ | $ | 444,091 | ​ | $ | — | ​ | $ | —
Actual return on plan assets |  | ​ | 3,375 |  | ​ | (69,361) |  | ​ | — |  | ​ | —
Employer contributions |  | ​ | 118 |  | ​ | 494 |  | ​ | 74 |  | ​ | 75
Plan participants’ contributions |  | ​ | 11 |  | ​ | 10 |  | ​ | 1 |  | ​ | 4
Benefits paid |  | ​ | (16,149) |  | ​ | (15,440) |  | ​ | (75) |  | ​ | (79)
Settlements |  | ​ | — |  | ​ | (3,032) |  | ​ | — |  | ​ | —
Foreign exchange rate changes |  | ​ | (49) |  | ​ | (17) |  | ​ | — |  | ​ | —
Fair value of plan assets at end of year | ​ | $ | 344,051 | ​ | $ | 356,745 | ​ | $ | — | ​ | $ | —
Schedule of Amounts Recognized in Balance Sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Pension Benefits |  | Other Postretirement Benefits
($ thousands) | ​ | 2023 |  | 2022 |  | 2023 |  | 2022
Prepaid pension costs (noncurrent assets) | ​ | $ | 74,951 | ​ | $ | 83,396 | ​ | $ | — | ​ | $ | —
Accrued benefit liabilities (current liability) |  | ​ | (5,327) |  | ​ | (5,189) |  | ​ | (176) |  | ​ | (182)
Accrued benefit liabilities (noncurrent liability) |  | ​ | (7,748) |  | ​ | (7,034) |  | ​ | (755) |  | ​ | (836)
Net amount recognized at end of year | ​ | $ | 61,876 | ​ | $ | 71,173 | ​ | $ | (931) | ​ | $ | (1,018)
Schedule of Projected Benefit Obligation and Accumulated Benefit Obligation in Excess of Plan Assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Projected Benefit Obligation Exceeds the | ​ | ​ | Accumulated Benefit Obligation
​ | ​ | ​ | Fair Value of Plan Assets | ​ | ​ | Exceeds the Fair Value of Plan Assets
($ thousands) | ​ |  | 2023 | ​ |  | 2022 | ​ |  | 2023 | ​ |  | 2022
End of Year | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Projected benefit obligation | ​ | $ | 13,075 | ​ | $ | 12,223 | ​ | $ | 13,075 | ​ | $ | 12,223
Accumulated benefit obligation | ​ |  | 12,144 | ​ |  | 11,392 | ​ |  | 12,144 | ​ |  | 11,392
Fair value of plan assets | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pension Benefits | ​ | Other Postretirement Benefits
($ thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Components of accumulated other comprehensive loss, net of tax: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Net actuarial loss (gain) | ​ | $ | 33,709 | ​ | $ | 25,967 | ​ | $ | (374) | ​ | $ | (410)
Net prior service credit | ​ |  | 71 | ​ |  | (20) | ​ |  | — | ​ |  | —
Accumulated other comprehensive loss, net of tax | ​ | $ | 33,780 | ​ | $ | 25,947 | ​ | $ | (374) | ​ | $ | (410)
​ ​
Schedule of net benefit costs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pension Benefits | ​ | Other Postretirement Benefits
($ thousands) |  | 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Service cost | ​ | $ | 5,020 | ​ | $ | 7,143 | ​ | $ | 7,494 | ​ | $ | — | ​ | $ | — | ​ | $ | —
Interest cost | ​ |  | 14,543 | ​ |  | 11,977 | ​ |  | 11,236 | ​ |  | 48 | ​ |  | 35 | ​ |  | 35
Expected return on assets | ​ |  | (24,353) | ​ |  | (27,987) | ​ |  | (28,437) | ​ |  | — | ​ |  | — | ​ |  | —
Amortization of: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Actuarial loss (gain) | ​ |  | 3,785 | ​ |  | 3,088 | ​ |  | 2,410 | ​ |  | (110) | ​ |  | (103) | ​ |  | (108)
Prior service credit | ​ |  | (123) | ​ |  | (314) | ​ |  | (514) | ​ |  | — | ​ |  | — | ​ |  | —
Settlement cost | ​ |  | — | ​ |  | 320 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Curtailments | ​ |  | — | ​ |  | 13 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total net periodic benefit income | ​ | $ | (1,128) | ​ | $ | (5,760) | ​ | $ | (7,811) | ​ | $ | (62) | ​ | $ | (68) | ​ | $ | (73)
Schedule of Expected Benefit Payments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pension Benefits
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Postretirement
($ thousands) |  | Funded Plan |  | SERP |  | Total |  | Benefits
Employer Contributions |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
2024 expected contributions to plan trusts | ​ | $ | 73 | ​ | $ | — | ​ | $ | 73 | ​ | $ | —
2024 expected contributions to plan participants | ​ |  | — | ​ |  | 5,469 | ​ |  | 5,469 | ​ |  | 181
2024 refund of assets (e.g. surplus) to employer | ​ |  | 133 | ​ |  | — | ​ |  | 133 | ​ |  | —
Expected Benefit Payments | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |
2024 | ​ | $ | 15,327 | ​ | $ | 5,469 | ​ | $ | 20,796 | ​ | $ | 181
2025 | ​ |  | 15,980 | ​ |  | 4,913 | ​ |  | 20,893 | ​ |  | 145
2026 | ​ |  | 16,702 | ​ |  | 926 | ​ |  | 17,628 | ​ |  | 116
2027 | ​ |  | 17,251 | ​ |  | 1,183 | ​ |  | 18,434 | ​ |  | 92
2028 | ​ |  | 17,865 | ​ |  | 813 | ​ |  | 18,678 | ​ |  | 73
2029-2033 | ​ |  | 93,809 | ​ |  | 1,479 | ​ |  | 95,288 | ​ |  | 187

X
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