Retirement Plans (Tables)

12 Months Ended

Jan. 31, 2018

Compensation and Retirement Disclosure [Abstract]

The following tables set forth (in thousands) the funded status of the Company’s pension plans at January 31, 2018, and 2017:



	Employee Plan						VIP Plan						Directors Plan
	1/31/2018			1/31/2017			1/31/2018			1/31/2017			1/31/2018			1/31/2017
Change in Benefit Obligation
Benefit obligation at beg. of year	$	31,212		$	32,659		$	8,292		$	8,701		$	257		$	280
Service cost	—			—			—			—			—			—
Interest cost	1,217			1,184			367			357			9			10
Participant contributions	—			—			—			—			—			—
Amendments	—			—			—			—			—			—
Actuarial losses (gains)	256			(1,125		)	656			(266		)	18			3
Plan settlement	—			—			—			—			—			—
Benefits paid	(1,758		)	(1,506		)	(309		)	(500		)	(36		)	(36		)
Benefit obligation at end of year	$	30,927		$	31,212		$	9,006		$	8,292		$	248		$	257
Change in Plan Assets
Fair value at beg. of year	$	22,911		$	19,848		$	—		$	—		$	—		$	—
Actual return on plan assets	4,726			3,169			—			—			—			—
Company contributions	1,380			1,400			309			500			36			36
Settlements	—			—			—			—			—			—
Benefits paid	(1,758		)	(1,506		)	(309		)	(500		)	(36		)	(36		)
Fair value at end of year	$	27,259		$	22,911		$	—		$	—		$	—		$	—
Funded Status
Unfunded status of the plan	$	(3,668	)	$	(8,301	)	$	(9,006	)	$	(8,292	)	$	(248	)	$	(257	)
Amounts Recognized in Statement of Financial Position
Current liabilities	—			—			(312		)	(278		)	(34		)	(34		)
Non-current liabilities	(3,668		)	(8,301		)	(8,694		)	(8,014		)	(214		)	(223		)
Accrued benefit cost	$	(3,668	)	$	(8,301	)	$	(9,006	)	$	(8,292	)	$	(248	)	$	(257	)
Amounts Recognized in Statement of Financial Position and Operations
Accrued benefit liability	$	(3,668	)	$	(8,301	)	$	(9,006	)	$	(8,292	)	$	(248	)	$	(257	)
Accumulated other comp. loss (gain)	5,749			9,567			2,863			2,447			—			—
Net amount recognized	$	2,081		$	1,266		$	(6,143	)	$	(5,845	)	$	(248	)	$	(257	)
Items not yet Recognized as a Component of Net Periodic Pension Expense, Included in AOCI
Unrecognized net actuarial loss (gain)	$	5,749		$	9,567		$	2,863		$	2,447		$	—		$	—
Unamortized prior service costs	—			—			—			—			—			—
Net initial asset recognition	—			—			—			—			—			—
	$	5,749		$	9,567		$	2,863		$	2,447		$	—		$	—



	Employee Plan						VIP Plan						Directors Plan
	1/31/2018			1/31/2017			1/31/2018			1/31/2017			1/31/2018			1/31/2017
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net loss (gain)	$	(3,103	)	$	(3,159	)	$	656		$	(266	)	$	—		$	3
Prior service cost	—			—			—						—			—
Amortization of (loss) gain	(715		)	(1,162		)	(240		)	(310		)				144
Amortization of prior service cost (credit)	—			—			—			—			—			—
Amortization of initial asset	—			—			—			—			—			—
Total recognized in other comprehensive (loss) income	$	(3,818	)	$	(4,321	)	$	416		$	(576	)	$	—		$	147
Items to be Recognized as a Component of Periodic Pension Cost for next fiscal year
Prior service cost	$	—		$	—		$	—		$	—		$	—		$	—
Net actuarial loss (gain)	362			715			330			240			—			—
	$	362		$	715		$	330		$	240		$	—		$	—
Supplemental Data
Projected benefit obligation	$	30,927		$	31,212		$	9,006		$	8,292		$	248		$	257
Accumulated benefit obligation	30,927			31,212			9,006			8,292			248			257
Fair value of plan assets	27,259			22,911			—			—			—			—
Components of Net Cost
Service cost	$	—		$	—		$	—		$	—		$	—		$	—
Interest cost	1,217			1,184			367			357			9			10
Expected return on plan assets	(1,367		)	(1,134		)	—			—			—			—
Amortization of transition amount	—			—			—			—			—			—
Recognized (gain) loss due to settlement	—			—			—			—			—			—
Amortization of prior service cost	—			—			—			—			—			—
Recognized net actuarial loss	715			1,162			240			310			—			(144		)
Benefit cost	$	565		$	1,212		$	607		$	667		$	9		$	(134	)
Estimated Future Benefit Payments
FYE 01-31-2019	$	5,215					$	312					$	34
FYE 01-31-2020	2,415						324						32
FYE 01-31-2021	2,077						316						31
FYE 01-31-2022	1,897						352						29
FYE 01-31-2023	1,895						366						27
FYE 01-31-2024 to 2028	9,325						2,191						70
Total	$	22,824					$	3,861					$	223
Weighted Average Assumptions to Determine Benefit Obligations at Year-End
Discount rate	3.75		%	4.25		%	4.00		%	4.50		%	3.75		%	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		%	4.25		%	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



	1/31/2018		1/31/2017
Level 1 Measurement
Cash & Cash Equivalents	$	—	$	—
Common Stock	9,701		7,379
Total Level 1	$	9,701	$	7,379
Level 2 Measurement
PNC Govt Money Fund	$	1,030	$	856
Vanguard Total Bond	—		1,144
Ishares Credit Bond ETF	340		172
Vanguard INTM Term Investment	702		346
Vanguard LT Investment	1,973		—
Ishares Russell 2000	2,047		1,771
Ishares Russell MID-CAP	2,129		1,817
Ishares Emerging Markets	1,338		1,110
Ishares MCSI RAFE	1,838		1,553
Ishares S&P Index	4,825		—
Vanguard REIT	—		913
Blackrock S&P Index	—		4,643
Managed Investment Fund	1,336		1,207
Total Level 2	$	17,558	$	15,532
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, 2018 and 2017:



	1/31/2018			1/31/2017
Liability beginning of year	$	2,184,000		$	2,166,000
Accretion expense	54,000			68,000
Death benefits paid	(150,000		)	(50,000		)
Liability end of year	$	2,088,000		$	2,184,000