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v3.20.1

Retirement Plans (Tables) | 12 Months Ended
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Jan. 31, 2020
Retirement Benefits [Abstract] |
Schedule of pension plans | The following tables set forth (in thousands) the combined funded status of the Company’s pension plans at January 31, 2020 and 2019:
| Combined Employee Retirement Plans |
1/31/2020 |  | 1/31/2019 |
Change in Benefit Obligation
Benefit obligation at beg. of year | $ | 36,299 |  |  | $ | 40,181 |  |
Service cost | — |  |  | — |  |
Interest cost | 1,382 |  |  | 1,459 |  |
Participant contributions | — |  |  | — |  |
Amendments | — |  |  | — |  |
Actuarial losses (gains) | 8,280 |  |  | (2,044 | ) |
Plan settlement | — |  |  | (2,176 | ) |
Benefits paid | (2,669 | ) |  | (1,121 | ) |
Benefit obligation at end of year | $ | 43,292 |  |  | $ | 36,299 |  |
Change in Plan Assets |  |  |  |
Fair value at beg. of year | $ | 23,527 |  |  | $ | 27,259 |  |
Actual return on plan assets | 1,806 |  |  | (1,557 | ) |
Company contributions | 990 |  |  | 1,122 |  |
Settlements | — |  |  | (2,176 | ) |
Benefits paid | (2,669 | ) |  | (1,121 | ) |
Fair value at end of year | $ | 23,654 |  |  | $ | 23,527 |  |
Funded Status |  |  |  |
Unfunded status of the plans | $ | (19,638 | ) |  | $ | (12,772 | ) |
Amounts Recognized in Statement of Financial Position |  |  |  |
Current liabilities | $ | (314 | ) |  | $ | (322 | ) |
Non-current liabilities | (19,324 | ) |  | (12,450 | ) |
Accrued benefit cost | $ | (19,638 | ) |  | $ | (12,772 | ) |
Amounts Recognized in Statement of Financial Position and Operations |  |  |  |
Accrued benefit liability | (19,638 | ) |  | (12,772 | ) |
Accumulated other compensation loss | 15,427 |  |  | 8,319 |  |
Net amount recognized | $ | (4,211 | ) |  | $ | (4,453 | ) |
Items not yet Recognized as a Component of Net Periodic Pension Expense, Included in AOCI |  |  |  |
Unrecognized net actuarial loss | $ | 15,427 |  |  | $ | 8,319 |  |
Unamortized prior service costs | — |  |  | — |  |
Net initial asset recognition | — |  |  | — |  |
| $ | 15,427 |  |  | $ | 8,319 |  |
| Combined Employee Retirement Plans |
1/31/2020 |  | 1/31/2019 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net loss | $ | 7,885 |  |  | $ | 1,039 |  |
Prior service cost | — |  |  | — |  |
Amortization of loss | (776 | ) |  | (1,333 | ) |
Amortization of prior service cost (credit) | — |  |  | — |  |
Amortization of initial asset | — |  |  | — |  |
Total recognized in other comprehensive income (loss) | $ | 7,109 |  |  | $ | (294 | ) |
Items to be Recognized as a Component of Periodic Pension Cost for next fiscal year |  |  |  |
Prior service cost | $ | — |  |  | $ | — |  |
Net actuarial loss | 1,872 |  |  | 706 |  |
| $ | 1,872 |  |  | $ | 706 |  |
Supplemental Data |  |  |  |
Projected benefit obligation | $ | 43,292 |  |  | $ | 36,299 |  |
Accumulated benefit obligation | 43,292 |  |  | 36,299 |  |
Fair value of plan assets | 23,654 |  |  | 23,527 |  |
Components of Net Cost |  |  |  |
Service cost | $ | — |  |  | $ | — |  |
Interest cost | 1,382 |  |  | 1,459 |  |
Expected return on plan assets | (1,432 | ) |  | (1,535 | ) |
Amortization of transition amount | — |  |  | — |  |
Recognized (gain) loss due to settlement | — |  |  | — |  |
Amortization of prior service cost | — |  |  | — |  |
Recognized net actuarial loss | 776 |  |  | 1,333 |  |
Benefit cost | $ | 726 |  |  | $ | 1,257 |  |
Estimated Future Benefit Payments |  |  |  |
FYE 01-31-2021 | $ | 6,114 |  |  |  |
FYE 01-31-2022 | 2,992 |  |  |  |
FYE 01-31-2023 | 2,641 |  |  |  |
FYE 01-31-2024 | 2,549 |  |  |  |
FYE 01-31-2025 | 3,067 |  |  |  |
FYE 01-31-2026 to 2030 | 11,960 |  |  |  |
Total | $ | 29,323 |  |  |  |
Weighted Average Assumptions to Determine Benefit Obligations at Year-End |  |  |  |
Discount rate | 3.00% - 3.05% |  | 3.75% - 4.0% |
Rate of compensation increase | N/A |  | N/A |
Weighted Average Assumptions to Determine Net Periodic Pension Cost |  |  |  |
Discount rate | 4.10% |  | 4.25% |
Expected return on plan assets | 6.50% |  | 6.50% |
Rate of compensation increase | N/A |  | N/A |
Fair value measurements of plan assets |
| 1/31/2020 |  | 1/31/2019
Level 1 Measurement |  |  |
Common Stock | 10,080 |  |  | 9,345 |
Principal Money Market | 799 |  |  | — |
PNC Govt Money Fund | 175 |  |  | 630 |
Vanguard INTM Term Investment | 250 |  |  | 283 |
Vanguard LT Investment | 1,161 |  |  | 1,304 |
Ishares Russell 2000 | 1,560 |  |  | 1,672 |
Ishares Russell MID-CAP | 1,850 |  |  | 1,890 |
Ishares Emerging Markets | 1,103 |  |  | 1,130 |
Ishares MCSI RAFE | 1,577 |  |  | 1,534 |
Ishares S&P Index | 2,252 |  |  | 2,895 |
Vanguard INTM Term Treasury | 250 |  |  | 281 |
Vanguard LT Treasury | 1,183 |  |  | 1,279 |
Total Level 1 Investments | $ | 22,240 |  |  | $ | 22,243 |
Life insurance liability | The following sets forth the Company's change in death benefits payable during the years ended January 31, 2020 and 2019:
| 1/31/2020 |  | 1/31/2019
Liability beginning of year | $ | 2,037,000 |  |  | $ | 2,088,000 |
Accretion expense | 49,000 |  |  | 49,000 |
Death benefits paid | (100,000 | ) |  | (100,000 | )
Liability end of year | $ | 1,986,000 |  |  | $ | 2,037,000 |

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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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