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DEBT (Tables)

9 Months Ended

Oct. 30, 2021

Debt Disclosure [Abstract]

Schedule of Line of Credit Facilities

The table below presents the components of the Company’s ABL Credit Facility:

			October 30, 2021						January 30, 2021						October 31, 2020
			(in millions)
Credit facility maximum			$	360.0					$	360.0					$	360.0
Borrowing base (1)			360.0						282.2						360.0
Outstanding borrowings			174.4						169.8						179.4
Letters of credit outstanding—standby			7.4						8.2						7.8
Utilization of credit facility at end of period			181.8						178.0						187.2
Availability (2)			$	178.2					$	104.2					$	172.8
Interest rate at end of period			3.8		%				4.2		%				3.9		%

			Year-To-Date 2021						Fiscal 2020						Year-To-Date 2020
Average end of day loan balance during the period			$	195.0					$	216.2					$	233.2
Highest end of day loan balance during the period			$	269.7					$	275.6					$	275.6
Average interest rate			3.8		%				3.8		%				3.7		%

____________________________________________

(1)Lower of the credit facility maximum or the total borrowing base collateral.

(2)The sub-limit availability for letters of credit was $42.6 million as of October 30, 2021, $41.8 million as of January 30, 2021, and $42.2 million as of October 31, 2020.

Schedule of Long-term Debt Instruments

The following table summarizes the current and long-term portion of the long-term debt:

			October 30, 2021
			(in thousands)
Term Loan principal			$	79,000
Less: Unamortized discount, net			(877)
Less: Unamortized debt issuance costs, net			(961)
Term Loan, net			77,162
Less: Current portion, net (1)			(28,270)
Long-term debt, net			$	48,892

____________________________________________

(1)Includes principal of $29.0 million that was repaid in connection with the refinancing of the Term Loan in November 2021 (see Note 14 - Subsequent Events for further information).

Schedule of Maturities of Long-term Debt

Future principal payments of long-term debt due subsequent to October 30, 2021 are as follows:

Period			Future Principal Payments (1)
			(in thousands)
Remainder of 2021			$	1,000
2022			5,500
2023			7,500
2024			65,000
Total future principal payments			$	79,000

____________________________________________

(1)Future principal payments do not give effect to the refinancing of the Term Loan in November 2021 (see Note 14 - Subsequent Events for further information).

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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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