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Long-Term Debt (Tables)
 3 Months Ended
May 02, 2015
Debt Disclosure [Abstract]  
Summary of Long-Term Debt

Long-term debt consisted of the following as of May 2, 2015 and January 31, 2015 (in thousands).

 

 

 

May 2,

2015

 

 

January 31, 2015

 

Term Loan Facility

 

$

62,500

 

 

$

65,000

 

Revolving Credit Facility

 

 

20,578

 

 

 

23,000

 

Total long-term debt principal

 

$

83,078

 

 

$

88,000

 

Less: Deferred financing costs (1)

 

 

3,318

 

 

 

3,550

 

Total long-term debt

 

$

79,760

 

 

$

84,450

 

 

(1)

Pursuant to new accounting guidance issued by the Financial Accounting Standards Board in April 2015, entities are no longer required to present deferred financing costs as a deferred asset. The guidance is effective for our fiscal year beginning in 2016, however, the Company has early adopted this accounting standard update effective as of February 1, 2015 and accordingly adjusted the January 31, 2015 comparative balance sheet to conform to the new classification presentation. There was no other impact on the financial statements related to the adoption other than the reclassification change on the condensed consolidated balance sheet. Refer to Note 10, Recent Accounting Pronouncements, for further information regarding the accounting standard update.