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Termination of Retirement Plans (Tables)
9 Months Ended
Oct. 28, 2023
Retirement Benefits [Abstract]  
Schedule of Net Periodic Pension Cost

Net periodic pension cost for the three and nine months ended October 28, 2023 and October 29, 2022 was as follows:

 

 

 

For the three months ended

 

 

For the nine months ended

 

 

 

October 28, 2023

 

 

October 29, 2022

 

 

October 28, 2023

 

 

October 29, 2022

 

Net periodic pension cost:

 

(in thousands)

 

Interest cost on projected benefit obligation

 

$

131

 

 

$

102

 

 

$

392

 

 

$

309

 

Expected return on plan assets

 

 

(150

)

 

 

(179

)

 

 

(450

)

 

 

(541

)

Amortization of unrecognized loss

 

 

66

 

 

 

68

 

 

 

197

 

 

 

203

 

Loss on pension plan termination

 

 

 

 

 

 

 

 

4,174

 

 

 

 

Net periodic pension cost (income)

 

$

47

 

 

$

(9

)

 

$

4,313

 

 

$

(29

)

Assumptions used to Determine the Net Periodic Benefit Cost

Assumptions used were as follows:

 

 

For the three and nine months ended

 

 

 

 

October 28, 2023

 

 

October 29, 2022

 

 

Discount rate

 

 

5.2

%

 

 

3.0

%

 

Expected return on plan assets

 

 

5.1

%

 

 

6.5

%