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v3.23.1

Retirement Plans (Tables) | 12 Months Ended
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Jan. 31, 2023
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, 2023 and 2022:
| Combined Employee Retirement Plans |
1/31/2023 |  | 1/31/2022 |
Change in Benefit Obligation
Benefit obligation at beginning of year | $ | 40,586 |  |  | $ | 44,178 |  |
Service cost | — |  |  | — |  |
Interest cost | 1,295 |  |  | 1,113 |  |
Participant contributions | — |  |  | — |  |
Amendments | — |  |  | — |  |
Actuarial losses (gains) | (6,892) |  |  | (2,373) |  |
Plan settlement | — |  |  | — |  |
Benefits paid | (2,004) |  |  | (2,332) |  |
Benefit obligation at end of year | 32,985 |  |  | 40,586 |  |
Change in Plan Assets |  |  |  |
Fair value at beginning of year | 26,429 |  |  | 23,972 |  |
Actual return on plan assets | (1,428) |  |  | 4,099 |  |
Company contributions | 631 |  |  | 690 |  |
Settlements | — |  |  | — |  |
Benefits paid | (2,004) |  |  | (2,332) |  |
Fair value at end of year | 23,628 |  |  | 26,429 |  |
Funded Status |  |  |  |
Unfunded status of the plans | $ | (9,357) |  |  | $ | (14,157) |  |
Amounts Recognized in Statement of Financial Position |  |  |  |
Current liabilities | $ | (324) |  |  | $ | (344) |  |
Non-current liabilities | (9,033) |  |  | (13,813) |  |
Accrued benefit cost | $ | (9,357) |  |  | $ | (14,157) |  |
Amounts Recognized in Statement of Financial Position and Operations |  |  |  |
Accrued benefit liability | $ | (9,357) |  |  | $ | (14,157) |  |
Accumulated other compensation loss | 1,910 |  |  | 6,889 |  |
Net amount recognized | $ | (7,447) |  |  | $ | (7,268) |  |
Items not yet Recognized as a Component of Net Periodic Pension Expense, included in AOCI |  |  |  |
Unrecognized net actuarial loss | $ | 1,910 |  |  | $ | 6,889 |  |
Unamortized prior service costs | — |  |  | — |  |
Net initial asset recognition | — |  |  | — |  |
| $ | 1,910 |  |  | $ | 6,889 |  |
| Combined Employee Retirement Plans |
1/31/2023 |  | 1/31/2022 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net loss | $ | (4,472) |  |  | $ | (5,782) |  |
Prior service cost | — |  |  | — |  |
Amortization of loss | (507) |  |  | (1,774) |  |
Amortization of prior service cost (credit) | — |  |  | — |  |
Amortization of initial asset | — |  |  | — |  |
Total recognized in other comprehensive loss | $ | (4,979) |  |  | $ | (7,556) |  |
Items to be Recognized as a Component of Periodic Pension Cost for next fiscal year |  |  |  |
Prior service cost | $ | — |  |  | $ | — |  |
Net actuarial loss | 6 |  |  | 536 |  |
| $ | 6 |  |  | $ | 536 |  |
Supplemental Data |  |  |  |
Projected benefit obligation | $ | 32,985 |  |  | $ | 40,586 |  |
Accumulated benefit obligation | $ | 32,985 |  |  | $ | 40,586 |  |
Fair value of plan assets | $ | 23,628 |  |  | $ | 26,429 |  |
Components of Net Cost |  |  |  |
Service cost | $ | — |  |  | $ | — |  |
Interest cost | 1,295 |  |  | 1,113 |  |
Expected return on plan assets | (1,000) |  |  | (690) |  |
Amortization of transition amount | — |  |  | — |  |
Recognized (gain) loss due to settlement | — |  |  | — |  |
Amortization of prior service cost | — |  |  | — |  |
Recognized net actuarial loss | 521 |  |  | 1,774 |  |
Benefit cost | $ | 816 |  |  | $ | 2,197 |  |
Estimated Future Benefit Payments |  |  |  |
FYE 01-31-2024 | $ | 6,234 |  |  |  |
FYE 01-31-2025 | 3,272 |  |  |  |
FYE 01-31-2026 | 2,581 |  |  |  |
FYE 01-31-2027 | 2,449 |  |  |  |
FYE 01-31-2028 | 2,397 |  |  |  |
FYE 01-31-2029 to 2033 | 10,289 |  |  |  |
Total | $ | 27,222 |  |  |  |
Weighted Average Assumptions to Determine Benefit Obligations at Year-End |  |  |  |
Discount rate | 4.85% |  | 3.20% |
Rate of compensation increase | N/A |  | N/A |
Weighted Average Assumptions to Determine Net Periodic Pension Cost |  |  |  |
Discount rate | 3.20% |  | 2.75% - 2.80% |
Expected return on plan assets | 6.00% |  | 6.00% |
Rate of compensation increase | N/A |  | N/A |
Fair value measurements of plan assets |
| 1/31/2023 |  | 1/31/2022
Level 1 Measurement |  |  |
Common Stock | $ | 9,389 |  |  | $ | 14,094 |
Principal Money Market | 233 |  |  | 523 |
Federated Herme Gove Oblig | 722 |  |  | — |
PNC Govt Money Fund | — |  |  | 204 |
Vanguard INTM Term Investment | 930 |  |  | 394 |
Vanguard LT Investment | 2,382 |  |  | 983 |
Ishares Russell 2000 | 718 |  |  | 1,457 |
Ishares Russell MID-CAP | 738 |  |  | 1,958 |
Ishares Emerging Markets | 748 |  |  | 1,091 |
Ishares MCSI RAFE | 1,857 |  |  | 1,713 |
Ishares S&P Index | 483 |  |  | 781 |
Vanguard INTM Term Treasury | 2,352 |  |  | 404 |
Vanguard LT Treasury | 921 |  |  | 1,036 |
Total Level 1 Investments | $ | 21,473 |  |  | $ | 24,638 |
Life insurance liability | The following sets forth the Company's change in death benefits payable during the years ended January 31, 2023 and 2022 (in thousands):
| 1/31/2023 |  | 1/31/2022
Liability beginning of year | $ | 1,616 |  |  | $ | 2,034 |
Accretion expense | 27 |  |  | 60 |
Death benefits paid | — |  |  | (478) |
Liability end of year | $ | 1,643 |  |  | $ | 1,616 |

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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 https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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