Basis of Presentation (Tables)

3 Months Ended

May 02, 2015

Effect of Retrospective Application of Change in Accounting Principle on Company's Consolidated Balance Sheets

The reclassification did not impact net income (loss) previously reported or any prior amounts reported on the Consolidated Statements of Operations. The following table presents the effect of the retrospective application of this change in accounting

principle on the Company’s Consolidated Balance Sheets as of January 31, 2015:

	As Reported		Effect of Change in			After Change in
Consolidated Balance Sheets (in thousands)	January 31, 2015		Accounting Principle			Accounting Principle
ASSETS:
Current assets:
Prepaid expenses and other current assets	$	9,190	$	(277	)	$	8,913
Total current assets		132,615		(277	)		132,338
Noncurrent assets:
Other assets		4,849		(942	)		3,907
Total assets		261,100		(1,219	)		259,881

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$	7,489	$	(154	)	$	7,335
Borrowings under credit facility		19,402		(585	)		18,817
Total current liabilities		90,307		(739	)		89,568
Long-term liabilities:
Long-term debt, net of current portion		26,651		(480	)		26,171
Total long-term liabilities		78,403		(480	)		77,923
Total liabilities and stockholders' equity		261,100		(1,219	)		259,881

Other Comprehensive Income and Reclassifications from AOCI

Other comprehensive income and reclassifications from AOCI for the three months ended May 2, 2015 and May 3, 2014 are as follows:

	May 2, 2015									May 3, 2014
For the three months ended:	(in thousands)
	Pension Plans			Foreign Currency			Total			Pension Plans			Foreign Currency			Total
Balance at beginning of the year	$	(7,795	)	$	(443	)	$	(8,238	)	$	(4,547	)	$	(13	)	$	(4,560	)

Other comprehensive income (loss) before reclassifications, net of taxes		97			23			120			82			92			174

Amounts reclassified from accumulated other comprehensive income (loss), net of taxes ⁽¹⁾		139			—			139			57			—			57

Other comprehensive income (loss) for the period		236			23			259			139			92			231

Balance at end of quarter	$	(7,559	)	$	(420	)	$	(7,979	)	$	(4,408	)	$	79		$	(4,329	)

(1)

Includes the amortization of the unrecognized (gain)/loss on pension plans which was charged to “Selling, General and Administrative” Expense on the Consolidated Statements of Operations for all periods presented. The amortization of the unrecognized loss, before tax, was $139,000 and $57,000 for the three months ended May 2, 2015 and May 3, 2014, respectively. There was no tax benefit for either period.