Retirement Plans (Tables)

12 Months Ended

Jan. 31, 2015

Compensation and Retirement Disclosure [Abstract]

The following tables set forth (in thousands) the funded status of the Company’s pension plans at January 31, 2015, and 2014:



	Employee Plan						VIP Plan						Directors Plan
	1/31/2015			1/31/2014			1/31/2015			1/31/2014			1/31/2015			1/31/2014
Change in Benefit Obligation
Benefit obligation at beg. of year	$	32,069		$	32,840		$	7,662		$	8,054		$	439		$	468
Service cost	—			—			—			—			—			—
Interest cost	1,260			1,312			350			330			17			18
Participant contributions				—						—			—			—
Amendments				—						—			—			—
Actuarial losses (gains)	5,962			596			2,636			(176		)	8			(29		)
Plan settlement	—			(2,148		)				—						—
Benefits paid	(1,583		)	(531		)	(544		)	(546		)	(36		)	(18		)
Benefit obligation at end of year	$	37,708		$	32,069		$	10,104		$	7,662		$	428		$	439
Change in Plan Assets
Fair value at beg. of year	$	18,168		$	16,875		$	—		$	—		$	—		$	—
Actual return on plan assets	2,172			2,122			—			—			—			—
Company contributions	2,430			1,850			544			546			36			18
Settlements	—			(2,148		)				—						—
Benefits paid	(1,583		)	(531		)	(544		)	(546		)	(36		)	(18		)
Fair value at end of year	$	21,187		$	18,168		$	—		$	—		$	—		$	—
Funded Status
Unfunded status of the plan	$	(16,521	)	$	(13,901	)	$	(10,104	)	$	(7,662	)	$	(428	)	$	(439	)
Amounts Recognized in Statement of Financial Position
Current liabilities	—			—			(613		)	(584		)	—			(66		)
Non-current liabilities	(16,521		)	(13,901		)	(9,491		)	(7,078		)	(428		)	(373		)
Accrued benefit cost	$	(16,521	)	$	(13,901	)	$	(10,104	)	$	(7,662	)	$	(428	)	$	(439	)
Amounts Recognized in Statement of Financial Position and Operations
Accrued benefit liability	$	(16,521	)	$	(13,901	)	$	(10,104	)	$	(7,662	)	$	(428	)	$	(439	)
Accumulated other comp. loss (gain)	—			14,235			4,716			2,259			—			(75		)
Net amount recognized	$	(16,521	)	$	334		$	(5,388	)	$	(5,403	)	$	(428	)	$	(514	)
Items not yet Recognized as a Component of Net Periodic Pension Expense, Included in AOCI
Unrecognized net actuarial loss (gain)	$	17,992		$	14,235		$	4,716		$	2,259		$	(37	)	$	(75	)
Unamortized prior service costs	—			—			—			—			—			—
Net initial asset recognition	—			—			—			—			—			—
	$	17,992		$	14,235		$	4,716		$	2,259		$	(37	)	$	(75	)



	Employee Plan						VIP Plan						Directors Plan
	1/31/2015			1/31/2014			1/31/2015			1/31/2014			1/31/2015			1/31/2014
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net loss (gain)	$	4,893		$	(407	)	$	2,636		$	(176	)	$	8		$	(29	)
Prior service cost				—												—
Amortization of (loss) gain	(1,136		)	(2,264		)	(178		)	(222		)	31			14
Amortization of prior service cost (credit)	—			—			—			—			—			—
Amortization of initial asset	—			—			—			—			—			—
Total recognized in other comprehensive (loss) income	$	3,757		$	(2,671	)	$	2,458		$	(398	)	$	39		$	(15	)
Items to be Recognized as a Component of Periodic Pension Cost for next fiscal year
Prior service cost	$	—		$	—		$	—		$	—		$	—		$	—
Net actuarial loss (gain)	1,529			1,136			484			178			—			(31		)
	$	1,529		$	1,136		$	484		$	178		$	—		$	(31	)
Supplemental Data
Projected benefit obligation	$	37,708		$	32,069		$	10,104		$	7,662		$	428		$	439
Accumulated benefit obligation	37,708			32,069			10,104			7,662			428			439
Fair value of plan assets	21,187			18,168			—			—			—			—
Components of Net Cost
Service cost	$	—		$	—		$	—		$	—		$	—		$	—
Interest cost	1,260			1,312			350			330			17			18
Expected return on plan assets	(1,102		)	(1,119		)	—			—			—			—
Amortization of transition amount	—			—			—			—			—			—
Recognized (gain) loss due to curtailments	—			—			—			—			—			—
Amortization of prior service cost	—			—			—			—						—
Recognized net actuarial loss	1,136			2,264			178			222			(31		)	(14		)
Benefit cost	$	1,294		$	2,457		$	528		$	552		$	(14	)	$	4
Estimated Future Benefit Payments
FYE 01-31-2016	$	4,789					$	613					$	51
FYE 01-31-2017	2,686						339						48
FYE 01-31-2018	1,619						325						45
FYE 01-31-2019	2,045						350						42
FYE 01-31-2020	1,737						368						39
FYE 01-31-2021 to 2025	11,117						1,916						148
Total	$	23,993					$	3,911					$	373
Weighted Average Assumptions to Determine Benefit Obligations at Year-End
Discount rate	3.25		%	4.25		%	3.50		%	4.75		%	3.25		%	4.25		%
Rate of compensation increase	N/A			N/A			N/A			N/A			N/A			N/A
Weighted Average Assumptions to Determine Net Periodic Pension Cost
Discount rate	4.25		%	4.00		%	4.75		%	4.25		%	4.25		%	4.00		%
Expected return on plan assets	6.50		%	6.50		%	N/A			N/A			N/A			N/A
Rate of compensation increase	N/A			N/A			N/A			N/A			N/A			N/A

Fair value measurements of plan assets



	1/31/2015		1/31/2014
Level 1 Measurement
Cash & Cash Equivalents	$	528	$	372
Common Stock	6,476		5,085
Total Level 1	$	7,004	$	5,457
Level 2 Measurement
Bond Index Fund	$	427	$	354
Core Bond CIT Fund	1,457		1,172
US Aggregate Bond Index Fund	627		355
Large Cap Growth Index Fund	3,610		3,758
Large Cap Value Index Fund	3,561		2,765
Russell 2000 Index Fund	1,499		1,602
International Equity Index Fund	1,653		1,359
Managed Investment Fund	1,075		938
Vanguard MSCI Emerging Markets Fund	274		408
Total Level 2	$	14,183	$	12,711
Level 3 Measurement
None	N/A		N/A

Life insurance liability

The following sets forth the Company's change in death benefits payable during the years ended January 31, 2015 and 2014:



	1/31/2015			1/31/2014
Liability beginning of year	$	2,401,000		$	2,316,000
Accretion expense	104,000			85,000
Present value of death benefits paid	(117,000		)	—
Liability end of year	$	2,388,000		$	2,401,000

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

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