Employee Benefit Plans (Tables)

12 Months Ended

Jan. 29, 2022

Defined Benefit Plan Disclosure [Line Items]

Schedule of Estimated Future Benefits for Next Ten Fiscal Years

The estimated future benefits for the next ten fiscal years are as follows:

	Total
FISCAL YEAR	(in thousands)
2022	$	908
2023		922
2024		916
2025		907
2026		916
2027-2031		4,502

Fair Value of Noncontributory Defined Benefit Retirement Plan Assets

The fair values of the Company’s noncontributory defined benefit retirement plan assets at the end of fiscal 2021 and fiscal 2020, by asset category, were as follows:

	Fair Value Measurement
	January 29, 2022								January 30, 2021
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category:
Mutual Funds:
U.S. Equity	$	4,446		—		—	$	4,446	$	4,071		—		—	$	4,071
International Equity		3,254		—		—		3,254		2,939		—		—		2,939
Fixed Income		3,486		—		—		3,486		3,527		—		—		3,527
Cash		107		—		—		107		814		—		—		814
Total	$	11,293	$	—	$	—	$	11,293	$	11,351	$	—	$	—	$	11,351

Target Asset Allocation

The Company’s target asset allocation for fiscal 2022 and its asset allocation at January 29, 2022 and January 30, 2021 were as follows, by asset category:

	Target Allocation			Percentage of plan assets at
	Fiscal 2022			January 29, 2022			January 30, 2021
Asset category:
Equity securities		63.0	%		68.2	%		61.7	%
Debt securities		35.0	%		30.9	%		31.1	%
Cash		2.0	%		0.9	%		7.2	%
Total		100.0	%		100.0	%		100.0	%

Noncontributory Pension Plan

Defined Benefit Plan Disclosure [Line Items]

Pension and Retirement Plan's Funded Status

The following table sets forth the Pension Plan’s funded status at January 29, 2022 and January 30, 2021:

	January 29, 2022			January 30, 2021
	in thousands
Change in benefit obligation:
Balance at beginning of period	$	15,864		$	16,217
Benefits and expenses paid		(839	)		(877	)
Interest costs		373			430
Settlements		(353	)		(410	)
Actuarial (gain) loss		(684	)		504
Balance at end of year	$	14,361		$	15,864
Change in fair value of plan assets:
Balance at beginning of period	$	11,351		$	11,483
Actual return on plan assets		512			544
Employer contributions		622			611
Settlements		(353	)		(410	)
Benefits and expenses paid		(839	)		(877	)
Balance at end of period	$	11,293		$	11,351
Reconciliation of funded status:
Projected benefit obligation	$	14,361		$	15,864
Fair value of plan assets		11,293			11,351
Unfunded status	$	(3,068	)	$	(4,513	)
Balance sheet classification:
Other long-term liabilities	$	3,068		$	4,513

Total Plan Expense, Other Amounts, and Other Changes Recognized in Accumulated Other Comprehensive Loss

Total plan expense and other amounts recognized in accumulated other comprehensive loss for the years ended January 29, 2022, January 30, 2021 and February 1, 2020 include the following components:

	January 29, 2022			January 30, 2021			February 1, 2020
Net pension cost:	(in thousands)
Interest cost on projected benefit obligation	$	373		$	430		$	581
Expected return on plan assets		(728	)		(737	)		(724	)
Amortization of unrecognized loss		314			989			784
Net pension cost	$	(41	)	$	682		$	641
Other changes recognized in other comprehensive loss,    before taxes:
Unrecognized losses at the beginning of the year	$	6,914		$	7,206		$	6,303
Net periodic pension cost		41			(682	)		(641	)
Employer contribution		622			611			420
Change in plan assets and benefit obligations		(1,445	)		(221	)		1,124
Unrecognized losses at the end of year	$	6,132		$	6,914		$	7,206

Supplemental Executive Retirement Plan

Defined Benefit Plan Disclosure [Line Items]

Pension and Retirement Plan's Funded Status

The following table sets forth the SERP’s funded status at January 29, 2022 and January 30, 2021:

	January 29, 2022			January 30, 2021
	in thousands
Change in benefit obligation:
Balance at beginning of period	$	563		$	547
Benefits and expenses paid		(40	)		(38	)
Interest costs		12			14
Actuarial (gain) loss		(21	)		40
Balance at end of year	$	514		$	563
Change in fair value of plan assets:
Balance at beginning of period	$	—		$	—
Employer contributions		40			38
Benefits and expenses paid		(40	)		(38	)
Balance at end of period	$	—		$	—
Projected benefit obligation	$	514		$	563
Reconciliation of funded status:
Projected benefit obligation	$	514		$	563
Fair value of plan assets		—			—
Unfunded Status	$	(514	)	$	(563	)
Balance sheet classification:
Other long-term liabilities	$	514		$	563

Total Plan Expense, Other Amounts, and Other Changes Recognized in Accumulated Other Comprehensive Loss

Other changes recognized in other comprehensive loss, before taxes (in thousands):

	January 29, 2022			January 30, 2021			February 1, 2020
	in thousands
Other changes recognized in other comprehensive loss, before taxes:
Unrecognized losses at the beginning of the year	$	120		$	82		$	28
Net periodic pension cost		(16	)		(15	)		(19	)
Employer contribution		40			38			33
Change in benefit obligations		(49	)		15			40
Unrecognized losses at the end of year	$	95		$	120		$	82