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Basis of Presentation (Tables)
 3 Months Ended
Apr. 30, 2022
Accounting Policies [Abstract]  
Other Comprehensive Income (Loss) and Reclassifications from AOCI

Other comprehensive income (loss) includes amounts related to foreign currency and pension plans and is reported in the Consolidated Statements of Comprehensive Income (Loss). Other comprehensive income (loss) and reclassifications from AOCI for the three months ended April 30, 2022 and May 1, 2021, respectively, were as follows:

 

 

 

April 30, 2022

 

 

May 1, 2021

 

For the three months ended:

 

(in thousands)

 

 

 

Pension
Plans

 

 

Foreign
Currency

 

 

Total

 

 

Pension
Plans

 

 

Foreign
Currency

 

 

Total

 

Balance at beginning of the quarter

 

$

(5,466

)

 

$

(59

)

 

$

(5,525

)

 

$

(6,224

)

 

$

3

 

 

$

(6,221

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) before
   reclassifications, net of taxes

 

 

79

 

 

 

(4

)

 

 

75

 

 

 

90

 

 

 

(25

)

 

 

65

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts reclassified from accumulated other
   comprehensive income, net of taxes (1)

 

 

(12

)

 

 

—

 

 

 

(12

)

 

 

(12

)

 

 

—

 

 

 

(12

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) for the period

 

 

67

 

 

 

(4

)

 

 

63

 

 

 

78

 

 

 

(25

)

 

 

53

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at end of quarter

 

$

(5,399

)

 

$

(63

)

 

$

(5,462

)

 

$

(6,146

)

 

$

(22

)

 

$

(6,168

)

 

(1)
Includes the amortization of the unrecognized loss on pension plans, which was charged to “Selling, General and Administrative” Expense on the Consolidated Statements of Operations for both periods presented. The Company recognized income of $12,000 for both the three months ended April 30, 2022 and May 1, 2021, as a result of a change in amortization from average remaining future service to average remaining lifetime. There was no related tax effect for either period.
Valuation Assumptions for Stock Options

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model based on the assumptions in the table below as it relates to stock options granted during the first three months of fiscal 2022 and fiscal 2021.

 

 

 

April 30, 2022

 

 

May 1, 2021

 

Expected volatility

 

109.0%-123.0%

 

 

97.4% - 104.9%

 

Risk-free interest rate

 

2.52%-2.60%

 

 

0.31% - 0.60%

 

Expected life

 

2.5-3.5 yrs.

 

 

3.0 - 4.0 yrs.

 

Dividend rate

 

 

—

 

 

 

—

 

Weighted average fair value of options granted

 

$

3.38

 

 

$

0.47