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v3.25.1

Retirement Plans (Tables) | 12 Months Ended
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Jan. 31, 2025
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, 2025 and 2024:
| Combined Employee Retirement Plans |
1/31/2025 |  | 1/31/2024 |
Change in Benefit Obligation
Benefit obligation at beginning of year | $ | 27,385 |  |  | $ | 32,985 |  |
Service cost | — |  |  | — |  |
Interest cost | 1,251 |  |  | 1,410 |  |
Participant contributions | — |  |  | — |  |
Amendments | — |  |  | — |  |
Actuarial gains | (765) |  |  | (115) |  |
Plan settlement | — |  |  | — |  |
Benefits paid (a) | (1,047) |  |  | (6,895) |  |
Benefit obligation at end of year | 26,824 |  |  | 27,385 |  |
Change in Plan Assets |  |  |  |
Fair value at beginning of year | 19,111 |  |  | 23,628 |  |
Actual return on plan assets | 2,352 |  |  | 1,702 |  |
Company contributions | 623 |  |  | 676 |  |
Settlements | — |  |  | — |  |
Benefits paid (a) | (1,047) |  |  | (6,895) |  |
Fair value at end of year | 21,039 |  |  | 19,111 |  |
Funded Status |  |  |  |
Unfunded status of the plans | $ | (5,785) |  |  | $ | (8,274) |  |
Amounts Recognized in Statement of Financial Position |  |  |  |
Current liabilities | $ | (384) |  |  | $ | (314) |  |
Non-current liabilities | (5,401) |  |  | (7,960) |  |
Accrued benefit cost | $ | (5,785) |  |  | $ | (8,274) |  |
Amounts Recognized in Statement of Financial Position and Operations |  |  |  |
Accrued benefit liability | $ | (5,785) |  |  | $ | (8,274) |  |
Accumulated other compensation (gain) loss | (1,822) |  |  | 495 |  |
Net amount recognized | $ | (7,607) |  |  | $ | (7,779) |  |
Items not yet Recognized as a Component of Net Periodic Pension (Income) Expense, included in AOCI |  |  |  |
Unrecognized net actuarial (gain) loss | $ | (1,822) |  |  | $ | 495 |  |
Unamortized prior service costs | — |  |  | — |  |
Net initial asset recognition | — |  |  | — |  |
| $ | (1,822) |  |  | $ | 495 |  |
(a) During the third quarter ended October 2023, the Company sold approximately $5.3 million of the investment assets held in the Trust and the proceeds from the sale was used to purchase annuities on behalf of 49 participants currently receiving monthly benefits and 89 vested terminated participants.
| Combined Employee Retirement Plans |
1/31/2025 |  | 1/31/2024 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net gain | $ | (2,458) |  |  | $ | (1,044) |  |
Prior service cost | — |  |  | — |  |
Amortization of gain | 142 |  |  | 4 |  |
Recognized loss due to settlement | — |  |  | (375) |  |
Amortization of initial asset | — |  |  | — |  |
Total recognized in other comprehensive income | $ | (2,316) |  |  | $ | (1,415) |  |
Items to be Recognized as a Component of Periodic Pension Cost for next fiscal year |  |  |  |
Prior service cost | $ | — |  |  | $ | — |  |
Net actuarial gain | $ | (363) |  |  | $ | (141) |  |
| $ | (363) |  |  | $ | (141) |  |
Supplemental Data |  |  |  |
Projected benefit obligation | $ | 26,824 |  |  | $ | 27,385 |  |
Accumulated benefit obligation | $ | 26,824 |  |  | $ | 27,385 |  |
Fair value of plan assets | $ | 21,039 |  |  | $ | 19,111 |  |
Components of Net Cost |  |  |  |
Service cost | $ | — |  |  | $ | — |  |
Interest cost | 1,251 |  |  | 1,410 |  |
Expected return on plan assets | (675) |  |  | (789) |  |
Amortization of transition amount | — |  |  | — |  |
Recognized loss due to settlement | — |  |  | 375 |  |
Amortization of prior service cost | — |  |  | — |  |
Recognized net actuarial (gain) loss | (125) |  |  | 12 |  |
Benefit cost | $ | 451 |  |  | $ | 1,008 |  |
Estimated Future Benefit Payments |  |  |  |
FYE 01-31-2026 | $ | 6,649 |  |  |  |
FYE 01-31-2027 | 2,580 |  |  |  |
FYE 01-31-2028 | 2,339 |  |  |  |
FYE 01-31-2029 | 1,988 |  |  |  |
FYE 01-31-2030 | 1,876 |  |  |  |
FYE 01-31-2031 to 2035 | 8,318 |  |  |  |
Total | $ | 23,750 |  |  |  |
Weighted Average Assumptions to Determine Benefit Obligations at Year-End |  |  |  |
Discount rate | 5.55% - 5.60% |  | 5.15% - 5.20% |
Rate of compensation increase | N/A |  | N/A |
Weighted Average Assumptions to Determine Net Periodic Pension Cost |  |  |  |
Discount rate | 5.15% - 5.20% |  | 4.85% |
Expected return on plan assets | 6.00% |  | 6.00% |
Rate of compensation increase | N/A |  | N/A |
Fair value measurements of plan assets |
| 1/31/2025 |  | 1/31/2024
Level 1 Measurement |  |  |
Common Stock | $ | 12,647 |  |  | $ | 11,560 |
Principal Money Market | 175 |  |  | 204 |
Federated Herme Gove Oblig | 260 |  |  | 327 |
Vanguard INTM Term Investment | 771 |  |  | 675 |
Vanguard LT Investment | 1,916 |  |  | 1,744 |
Ishares Russell 2000 | 19 |  |  | 16 |
Ishares Russell MID-CAP | 20 |  |  | 17 |
Ishares Emerging Markets | 17 |  |  | 15 |
Ishares MCSI EAFE | 42 |  |  | 39 |
Ishares S&P Index | 19 |  |  | 15 |
Vanguard LT Treasury | 1,904 |  |  | 1,695 |
Vanguard INTM Term Treasury | 774 |  |  | 663 |
Total Level 1 Investments | $ | 18,564 |  |  | $ | 16,970 |
Life insurance liability | The following sets forth the Company's change in death benefits payable during the years ended January 31, 2025 and 2024 (in thousands):
| 1/31/2025 |  | 1/31/2024
Liability beginning of year | $ | 1,468 |  |  | $ | 1,643 |
Accretion expense | 27 |  |  | 25 |
Death benefits paid | (150) |  |  | (200) |
Liability end of year | $ | 1,345 |  |  | $ | 1,468 |

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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 -Topic 715 -SubTopic 20 -Subparagraph (b) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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