BENEFIT PLANS (Tables)

12 Months Ended

Feb. 02, 2019

Retirement Benefits [Abstract]

Schedule of information regarding Defined Benefit Plan

Information regarding the DB Plan is as follows (in thousands):

	Fiscal Year
	2018			2017
Change in benefit obligation:
Benefit obligation at beginning of year	$	34,749		$	34,962
Employer service cost	510			490
Interest cost	1,367			1,430
Actuarial (gain) loss	(906		)	1,835
Settlements	(2,379		)	(1,989		)
Plan disbursements	(2,122		)	(1,979		)
Projected benefit obligation at end of year	31,219			34,749
Change in plan assets:
Fair value of plan assets at beginning of year	27,502			26,161
Actual return on plan assets	(1,077		)	4,456
Employer contributions	1,335			853
Settlements	(2,379		)	(1,989		)
Plan disbursements	(2,122		)	(1,979		)
Fair value of plan assets at end of year	23,259			27,502
Underfunded status	$	(7,960	)	$	(7,247	)
Amounts recognized in the consolidated balance sheet consist of:
Accrued benefit liability - included in other long-term liabilities	$	(7,960	)	$	(7,247	)
Amount recognized in accumulated other comprehensive loss, pre-tax (a)	7,502			6,822
(a) Consists solely of net actuarial losses as there are no prior service costs.

Schedule of expected benefit payments, Defined Benefit Plan

The following benefit payments are expected to be paid (in thousands):

Fiscal Year	Payments
2019	$	2,275
2020	2,535
2021	2,705
2022	2,979
2023	2,703
Fiscal Years 2024 - 2028	12,562

Schedule of allocations of Defined Benefit Plan assets by category

The allocations of DB Plan assets by category are as follows:

		Fiscal Year
	2019 Target Allocation	2018	2017
Equity securities	50%	48%	51%
Fixed income securities	50	49	47
Other - primarily cash	—	3	2
Total	100%	100%	100%

Defined Benefit Plan assets measured at fair value

The following tables present the DB Plan assets measured at fair value on a recurring basis in the consolidated financial statements (in thousands):

	February 2, 2019
	Balance		Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Mutual funds:
Equity securities	$	11,126	$	11,126	$	—	$	—
Fixed income securities	11,346		11,346		—		—
Other - primarily cash	787		787		—		—
Total	$	23,259	$	23,259	$	—	$	—

	February 3, 2018
	Balance		Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Mutual funds:
Equity securities	$	14,162	$	14,162	$	—	$	—
Fixed income securities	12,833		12,833		—		—
Other - primarily cash	507		507		—		—
Total	$	27,502	$	27,502	$	—	$	—

Schedule of weighted-average assumptions, Defined Benefit Plan

Assumptions used in the actuarial calculations were as follows:

	Fiscal Year
Benefit Obligation Weighted Average Assumptions	2018		2017
Discount rate	4.35	%	3.98	%
	Fiscal Year
Net Periodic Benefit Expense Weighted Average Assumptions	2018		2017
Discount rate	3.98	%	4.33	%
Expected return on assets	6.50	%	6.50	%

The discount rate was determined using yields on a hypothetical bond portfolio that matches the approximated cash flows of the DB Plan. We develop our long-term rate of return assumptions using long-term historical actual return data considering the mix of investments that comprise plan assets and input from professional advisors. 

Components of net periodic benefit cost, Defined Benefit Plan

The components of net periodic benefit cost for the DB Plan, which were recognized in selling, general and administrative expenses were as follows (in thousands):

	Fiscal Year
	2018			2017
Employer service cost	$	510		$	490
Interest cost on pension benefit obligation	1,367			1,430
Expected return on plan assets	(1,679		)	(1,654		)
Amortization of net loss	600			797
Settlement charges(a)	569			438
Net periodic pension cost	$	1,367		$	1,501
(a) Non-cash pension settlement charges were recognized as a result of lump sum distributions exceeding interest cost for the year.

Schedule of other changes in Defined Benefit Plan assets and benefit obligations recognized in other comprehensive loss

Other changes in DB Plan assets and benefit obligations recognized in other comprehensive loss are as follows (in thousands):

	Fiscal Year
	2018			2017
Amortization of net loss	$	(600	)	$	(797	)
Settlement charges	(569		)	(438		)
Net loss (gain)	1,849			(966		)
Net change recognized in other comprehensive loss, pre-tax	$	680		$	(2,201	)

Schedule of components of actuarial net loss recognized In other comprehensive loss

The actuarial net loss recognized in other comprehensive loss in 2018 is comprised of the following changes:

	(Gain) / Loss
Demographic experience, including assumption changes	$	(906	)	(a)
Investment return different from assumed during the prior year	2,755			(b)
Net loss	$	1,849
(a) The discount rate increased compared to the prior year, which reduced the net periodic pension cost and improved the funded position.
(b) The actual return on the fair value of plan assets since the prior measurement date was less than expected, which caused the funded rate to deteriorate.