XML 68 R58.htm IDEA: XBRL DOCUMENT v3.22.2.2
Financing Arrangements - Additional Information (Details) - Revolving Credit Facility - Credit Agreement - USD ($)
9 Months Ended
Jan. 08, 2021
Oct. 31, 2022
Line Of Credit Facility [Line Items]    
Credit agreement initiation date Jan. 08, 2021  
Maximum borrowing capacity $ 45,000,000.0  
Borrowing capacity description   On January 8, 2021, the Company, as borrower, entered into a credit and security agreement (“Credit Agreement”) with KeyBank National Association as Administrative Agent (“Agent”) and lender, and KeyBanc Capital Markets Inc. as sole lead arranger and sole book runner. The Credit Agreement provides for a secured revolving credit facility (“Credit Facility”) under which the Company may borrow up to an aggregate amount of $25.0 million, which includes a $10.0 million sub-facility for letters of credit. The Company and its lenders may increase the total commitments under the Credit Facility to up to an aggregate amount of $45.0 million, subject to certain conditions. Funds borrowed under the Credit Agreement may be used for working capital and other general corporate purposes.
Credit agreement, Interest rate description   Loans under the Credit Agreement will bear interest, at the Company’s option, at either a rate equal to the “Base Rate” (as defined in the Credit Agreement) or (b) “Eurodollar Rate” (as defined in the Credit Agreement) plus 2.50%. The Base Rate is the highest of (i) the Agent’s prime rate, (ii) the federal funds effective rate plus 0.5%, and (iii) the Eurodollar Rate with an interest period of one month plus 1%. The Eurodollar Rate is the London Interbank Offered Rate with various interest periods as may be selected by the Company but shall not be less than 0.75%. Upon the occurrence of any event of default, the interest rate on any borrowings increases by 2.0%. The Credit Agreement also contains customary provisions for the replacement of the London Interbank Offered Rate/Eurodollar Rate. The Company is required to pay a commitment fee on the unused portion of the Credit Facility of 0.25% per annum.
Percentage of commitment fees on revolving credit facility 0.25%  
Borrowing remaining capacity   $ 25,000,000.0
Borrowing capacity, Outstanding amount   $ 0
Maximum    
Line Of Credit Facility [Line Items]    
Borrowing capacity $ 25,000,000.0  
Maximum | Eurodollar Rate    
Line Of Credit Facility [Line Items]    
Credit agreement, Variable rate 2.00%  
Minimum | Eurodollar Rate    
Line Of Credit Facility [Line Items]    
Credit agreement, Variable rate 0.75%  
Letters of Credit    
Line Of Credit Facility [Line Items]    
Borrowing capacity $ 10,000,000.0