Note 13 - Recent Accounting Pronouncements	9 Months Ended
Oct. 31, 2020
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 13 - Recent accounting pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020 - 04, Reference Rate Reform (Topic 848 ), which provides guidance designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements necessitated by the scheduled discontinuation of LIBOR on December 31, 2021. It also provides optional expedients to enable companies to continue to apply hedge accounting to certain hedging relationships impacted by reference rate reform. The ASU provides the option to account for and present a modification that meets the scope of the standard as an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination required under the relevant topic or subtopic. This ASU is effective for all entities; however, application of the guidance is optional, is only available in certain situations and is only available for companies to apply from March 12, 2020 until December 31, 2022. The Company's Senior Credit Facility which matures on September 20, 2021 bears interest using an alternate base rate or LIBOR plus an applicable margin. Based on the maturity of the Senior Credit Facility prior to the discontinuation of LIBOR, the Company does not expect a material impact from the adoption of this standard on the financial statements of the Company. In December 2019, the FASB issued ASU 2019 - 12, Simplifying the Accounting for Income Taxes (Topic 740 ), which eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating taxes during the quarters and the recognition of deferred tax liabilities for outside basis differences. This guidance also simplifies aspects of the accounting for franchise taxes, enacts changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating this standard and the impact to the financial statements of the Company. In August 2018, the FASB issued ASU 2018 - 14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715 - 20 ), which removes disclosures that are no longer considered cost beneficial, clarifies specific requirements of existing disclosures and adds disclosure requirements identified as relevant. This ASU is effective for fiscal years ending after December 15, 2020, with early adoption permitted. The Company will adopt this standard in its Annual Report on Form 10 -K footnote disclosures for the year ended January 31, 2021 and does not expect a material impact on the financial statements of the Company. In June 2016, the FASB issued ASU No. 2016 - 13, Financial Instruments-Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments. The new guidance affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. A recently adopted amendment has delayed the effective date until fiscal years beginning after December 15, 2022. The Company is currently evaluating this standard and the impact to the financial statements of the Company. The Company evaluated other recent accounting pronouncements and does not expect them to have a material impact on its consolidated financial statements or related disclosures.

Note

- Recent accounting pronouncements

March 2020,

the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU")

2020

04,

Reference Rate Reform

(Topic

848

), which provides guidance designed to provide relief from the accounting analysis and impacts that

may

otherwise be required for modifications to agreements necessitated by the scheduled discontinuation of LIBOR on

December 31, 2021.

It also provides optional expedients to enable companies to continue to apply hedge accounting to certain hedging relationships impacted by reference rate reform. The ASU provides the option to account for and present a modification that meets the scope of the standard as an event that does

not

require contract remeasurement at the modification date or reassessment of a previous accounting determination required under the relevant topic or subtopic. This ASU is effective for all entities; however, application of the guidance is optional, is only available in certain situations and is only available for companies to apply from

March 12, 2020

until

December 31, 2022.

The Company's Senior Credit Facility which matures on

September 20, 2021

bears interest using an alternate base rate or LIBOR plus an applicable margin. Based on the maturity of the Senior Credit Facility prior to the discontinuation of LIBOR, the Company does

not

expect a material impact from the adoption of this standard on the financial statements of the Company.

December 2019,

the FASB issued ASU

2019

12,

Simplifying the Accounting for Income Taxes

(Topic

740

), which eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating taxes during the quarters and the recognition of deferred tax liabilities for outside basis differences. This guidance also simplifies aspects of the accounting for franchise taxes, enacts changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2020,

with early adoption permitted. The Company is currently evaluating this standard and the impact to the financial statements of the Company.

August 2018,

the FASB issued ASU

2018

14,

Compensation - Retirement Benefits - Defined Benefit Plans - General

(Subtopic

715

), which removes disclosures that are

longer considered cost beneficial, clarifies specific requirements of existing disclosures and adds disclosure requirements identified as relevant. This ASU is effective for fiscal years ending after

December 15, 2020,

with early adoption permitted. The Company will adopt this standard in its Annual Report on Form

-K footnote disclosures for the year ended

January 31, 2021

and does

not

expect a material impact on the financial statements of the Company.

June 2016,

the FASB issued ASU

No.

2016

13,

Financial Instruments-Credit Losses

(Topic

326

): Measurement of Credit Losses on Financial Instruments. The new guidance affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets

not

excluded from the scope that have the contractual right to receive cash. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2019,

with early adoption permitted. A recently adopted amendment has delayed the effective date until fiscal years beginning after

December 15, 2022.

The Company is currently evaluating this standard and the impact to the financial statements of the Company.

The Company evaluated other recent accounting pronouncements and does

not

expect them to have a material impact on its consolidated financial statements or related disclosures.