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DEBT (Tables) | 3 Months Ended
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Apr. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Line of Credit Facilities | The table below presents the components of the Company’s ABL Credit Facility and Previous ABL Credit Facility:
| April 30, 2022 |  | January 29, 2022 |  | May 1, 2021
| (in millions)
Credit facility maximum | $ | 350.0 |  | $ | 350.0 |  | $ | 360.0
Borrowing base (1) | 350.0 |  | 279.7 |  | 330.4
Outstanding borrowings | 249.5 |  | 175.3 |  | 196.9
Letters of credit outstanding—standby | 7.4 |  | 7.4 |  | 7.4
Utilization of credit facility at end of period | 256.9 |  | 182.7 |  | 204.3
Availability (2) | $ | 93.1 |  | $ | 97.0 |  | $ | 126.1
Interest rate at end of period | 2.0% |  | 1.6% |  | 4.0%
| First Quarter 2022 |  | Fiscal 2021 |  | First Quarter 2021
Average end of day loan balance during the period | $ | 251.2 |  | $ | 187.0 |  | $ | 210.3
Highest end of day loan balance during the period | $ | 308.6 |  | $ | 269.7 |  | $ | 260.6
Average interest rate | 2.0% |  | 3.6% |  | 4.0%
____________________________________________ (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 at April 30, 2022, January 29, 2022, and May 1, 2021.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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