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Employee Benefit Plans (Tables)
 12 Months Ended
Feb. 03, 2024
Defined Benefit Plan Disclosure [Line Items]  
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 2022, by asset category, was as follows:

 

 

 

Fair Value Measurement

 

 

 

January 28, 2023

 

(in thousands)

 

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

 

$

3,743

 

 

 

—

 

 

 

—

 

 

$

3,743

 

International Equity

 

 

2,592

 

 

 

—

 

 

 

—

 

 

 

2,592

 

Fixed Income

 

 

1,333

 

 

 

—

 

 

 

—

 

 

 

1,333

 

Cash

 

 

1,923

 

 

 

—

 

 

 

—

 

 

 

1,923

 

Total

 

$

9,591

 

 

$

—

 

 

$

—

 

 

$

9,591

 
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 February 3, 2024 and January 28, 2023:

 

 

 

February 3, 2024

 

 

January 28, 2023

 

 

 

in thousands

 

Change in benefit obligation:

 

 

 

 

 

 

Balance at beginning of period

 

$

11,454

 

 

$

14,361

 

Benefits and expenses paid

 

 

(347

)

 

 

(818

)

Interest costs

 

 

294

 

 

 

414

 

Settlements

 

 

(10,877

)

 

 

(358

)

Actuarial (gain) loss

 

 

(524

)

 

 

(2,145

)

Balance at end of year

 

$

—

 

 

$

11,454

 

 

 

 

 

 

 

 

Change in fair value of plan assets:

 

 

 

 

 

 

Balance at beginning of period

 

$

9,591

 

 

$

11,293

 

Actual return on plan assets

 

 

(34

)

 

 

(1,050

)

Employer contributions

 

 

2,106

 

 

 

524

 

Settlements

 

 

(11,316

)

 

 

(358

)

Benefits and expenses paid

 

 

(347

)

 

 

(818

)

Balance at end of period

 

$

—

 

 

$

9,591

 

 

 

 

 

 

 

 

Reconciliation of funded status:

 

 

 

 

 

 

Projected benefit obligation

 

$

—

 

 

$

11,454

 

Fair value of plan assets

 

 

—

 

 

 

9,591

 

Unfunded status

 

$

—

 

 

$

(1,863

)

 

 

 

 

 

 

 

Balance sheet classification:

 

 

 

 

 

 

Other long-term liabilities

 

$

—

 

 

$

1,863

 

 
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 February 3, 2024, January 28, 2023 and January 29, 2022 include the following components:

 

 

February 3, 2024

 

 

January 28, 2023

 

 

January 29, 2022

 

Net pension cost:

 

(in thousands)

 

Interest cost on projected benefit obligation

 

$

294

 

 

$

414

 

 

$

373

 

Expected return on plan assets

 

 

(325

)

 

 

(723

)

 

 

(728

)

Amortization of unrecognized loss

 

 

133

 

 

 

270

 

 

 

314

 

Net pension cost

 

$

102

 

 

$

(39

)

 

$

(41

)

 

 

 

 

 

 

 

 

 

 

Other changes recognized in other comprehensive loss,
   before taxes:

 

 

 

 

 

 

 

 

 

Unrecognized losses at the beginning of the year

 

$

5,490

 

 

$

6,132

 

 

$

6,914

 

Net periodic pension cost

 

 

(102

)

 

 

39

 

 

 

41

 

Employer contribution

 

 

2,106

 

 

 

524

 

 

 

622

 

Recognition of the unrealized loss

 

 

(5,631

)

 

 

—

 

 

 

—

 

Change in plan assets and benefit obligations

 

 

(1,863

)

 

 

(1,205

)

 

 

(1,445

)

Unrecognized losses at the end of year

 

$

—

 

 

$

5,490

 

 

$

6,132

 
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 February 3, 2024 and January 28, 2023:

 

 

 

February 3, 2024

 

 

January 28, 2023

 

 

 

 

 

 

 

 

 

 

in thousands

 

Change in benefit obligation:

 

 

 

 

 

 

Balance at beginning of period

 

$

427

 

 

$

514

 

Benefits and expenses paid

 

 

(27

)

 

 

(40

)

Settlements

 

 

(385

)

 

 

—

 

Interest costs

 

 

13

 

 

 

14

 

Actuarial (gain) loss

 

 

(28

)

 

 

(61

)

Balance at end of year

 

$

—

 

 

$

427

 

 

 

 

 

 

 

Change in fair value of plan assets:

 

 

 

 

 

 

Balance at beginning of period

 

$

—

 

 

$

—

 

Employer contributions

 

 

466

 

 

 

40

 

Settlements

 

 

(439

)

 

 

—

 

Benefits and expenses paid

 

 

(27

)

 

 

(40

)

Balance at end of period

 

$

—

 

 

$

—

 

 

 

 

 

 

 

Projected benefit obligation

 

$

—

 

 

$

427

 

 

 

 

 

 

 

Reconciliation of funded status:

 

 

 

 

 

 

Projected benefit obligation

 

$

—

 

 

$

427

 

Fair value of plan assets

 

 

—

 

 

 

—

 

Unfunded Status

 

$

—

 

 

$

(427

)

 

 

 

 

 

 

Balance sheet classification:

 

 

 

 

 

 

Other long-term liabilities

 

$

—

 

 

$

427

 
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):

 

 

 

February 3, 2024

 

 

January 28, 2023

 

 

January 29, 2022

 

 

 

in thousands

 

Other changes recognized in other comprehensive loss,
 before taxes:

 

 

 

 

 

 

 

 

 

Unrecognized losses at the beginning of the year

 

$

31

 

 

$

95

 

 

$

120

 

Net periodic pension cost

 

 

(13

)

 

 

(17

)

 

 

(16

)

Recognized loss from settlement

 

 

(57

)

 

 

—

 

 

 

—

 

Employer contribution

 

 

466

 

 

 

40

 

 

 

40

 

Change in benefit obligations

 

 

(427

)

 

 

(87

)

 

 

(49

)

Unrecognized losses at the end of year

 

$

-

 

 

$

31

 

 

$

95