Defined Benefit Plans

9 Months Ended

Oct. 28, 2017

Disclosure Text Block Supplement [Abstract]

Compensation and Employee Benefit Plans [Text Block]

Note 12. Defined Benefit Plan

The Company maintains a non-qualified Supplemental Executive Retirement Plan (“SERP”) for a limited number of executive officers of the Company. The SERP provides eligible executives defined pension benefits that supplement benefits under other retirement arrangements. During the thirty-nine weeks ended October 28, 2017, the Company did not make any cash contributions to the SERP and presently expects to pay approximately $1.2 million in benefits relating to the SERP during fiscal 2017.

The measurement date for the SERP is the fiscal year end, using actuarial techniques which reflect estimates for mortality, turnover and expected retirement. In addition, management makes assumptions concerning future salary increases. Discount rates are generally established as of the measurement date using theoretical bond models that select high-grade corporate bonds with maturities or coupons that correlate to the expected payouts of the applicable liabilities.

The following represents the components of the net periodic pension cost related to the Company’s SERP for the respective periods:

	Thirteen Weeks Ended						Thirty-nine Weeks Ended
	October 28,			October 29,			October 28,			October 29,
	2017			2016			2017			2016
	(in thousands)						(in thousands)
Service cost	$	16		$	15		$	48		$	45
Interest cost		139			137			417			411
Amortization of prior service costs		4			55			12			166
Amortization of net gain(1)		(9	)		(4	)		(27	)		(12	)
Net periodic pension cost	$	150		$	203		$	450		$	610

(1) The amortization of net gain is related to a director retirement plan previously provided by the Company.