RABBI TRUST ASSETS

12 Months Ended

Jan. 30, 2021

Investments, Debt and Equity Securities [Abstract]

In an effort to improve the Company’s near-term cash position, as a precautionary measure in response to COVID-19, during Fiscal 2020, the Company withdrew the majority of excess funds from the overfunded Rabbi Trust assets, providing the Company with $50.0 million of additional cash.

Investments of Rabbi Trust assets consisted of the following as of January 30, 2021 and February 1, 2020:


(in thousands)	January 30, 2021		February 1, 2020
Trust-owned life insurance policies (at cash surrender value)	$	60,789	$	109,048
Money market funds	1		1
Rabbi Trust assets	$	60,790	$	109,049

Realized gains resulting from the change in cash surrender value of the Rabbi Trust assets for Fiscal 2020, Fiscal 2019 and Fiscal 2018 were as follows:



(in thousands)	Fiscal 2020		Fiscal 2019		Fiscal 2018
Realized gains related to Rabbi Trust assets	$	1,740	$	3,172	$	3,084

Refer to Note 2, “SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Rabbi Trust assets,” for further discussion related to the Company’s Rabbi Trust assets.