XML 26 R13.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Variable Interest Entity | 6 Months Ended
--- | ---
Jul. 28, 2024
Variable Interest Entity [Abstract] |
Variable Interest Entity | 6. VARIABLE INTEREST ENTITY Based upon the criteria set forth in ASC 810, Consolidation, the Company consolidates variable interest entities (“VIEs”) in which it has a controlling financial interest and is therefore deemed the primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the VIE activities that most significantly impact economic performance; and (b) the obligation to absorb the VIE losses and the right to receive benefits that are significant to the VIE. The Company has determined that it was the primary beneficiary of one VIE as of July 28, 2024 and January 28, 2024. The Company leases the Company’s headquarters in Mt. Horeb, Wisconsin from TRI. In conjunction with the lease, the Company invested $6.3 million in a trust that loaned funds to TRI for the construction of the Company’s headquarters. TRI is a Wisconsin limited liability company whose primary purpose and activity is to own this real property. The Company considers itself the primary beneficiary for TRI as the Company has both the power to direct the activities that most significantly impact the entity’s economic performance and is expected to receive benefits that are significant to TRI. As the Company is the primary beneficiary, it consolidates TRI and the lease is eliminated in consolidation. The Company does not consolidate the trust as the Company is not the primary beneficiary. The condensed consolidated balance sheets include the following amounts as a result of the consolidation of TRI as of July 28, 2024 and January 28, 2024:
|  | July 28, 2024 |  | January 28, 2024
(in thousands) |  |  |  |  |  |
Cash |  | $ | 22 |  | $ | 17
Property and equipment, net |  |  | 22,631 |  |  | 22,941
Total assets |  | $ | 22,653 |  | $ | 22,958
Other current liabilities |  | $ | 79 |  | $ | 26
Current maturities of long-term debt |  |  | 888 |  |  | 847
TRI long-term debt |  |  | 24,723 |  |  | 25,141
Noncontrolling interest in VIE |  |  | (3,037) |  |  | (3,056)
Total liabilities and shareholders' equity |  | $ | 22,653 |  | $ | 22,958

X
- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
Name: | us-gaap_VariableInterestEntityDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration