Employee Benefit Plans (Tables)

12 Months Ended

Feb. 01, 2020

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)
2020	$	889
2021		904
2022		925
2023		945
2024		952
2025-2029		4,757

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 2019 and fiscal 2018, by asset category, were as follows:

	Fair Value Measurement
	February 1, 2020								February 2, 2019
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level3)		Total		Quoted Prices in Active Markets for Identical Assets (Level1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level3)		Total
Asset category:
Mutual Funds:
U.S. Equity	$	4,157		—		—	$	4,157	$	4,247		—		—	$	4,247
International Equity		3,132		—		—		3,132		3,144		—		—		3,144
Bond		3,754		—		—		3,754		3,722		—		—		3,722
Cash		440		—		—		440		252		—		—		252
Total	$	11,483	$	—	$	—	$	11,483	$	11,365	$	—	$	—	$	11,365

Target Asset Allocation

The Company’s target asset allocation for fiscal 2020 and its asset allocation at February 1, 2020 and February 2, 2019 were as follows, by asset category:

	Target Allocation			Percentage of plan assets at
	Fiscal 2020			February 1, 2020			February 2, 2019
Asset category:
Equity securities		65.0	%		63.5	%		65.0	%
Debt securities		33.0	%		32.7	%		32.7	%
Cash		2.0	%		3.8	%		2.2	%
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 February 1, 2020 and February 2, 2019:

	February 1, 2020			February 2, 2019
	in thousands
Change in benefit obligation:
Balance at beginning of period	$	14,975		$	16,284
Benefits and expenses paid		(869	)		(809	)
Interest costs		581			580
Settlements		(490	)		(509	)
Actuarial (gain) loss		2,020			(571	)
Balance at end of year	$	16,217		$	14,975
Change in fair value of plan assets:
Balance at beginning of period	$	11,365		$	12,855
Actual return on plan assets		1,057			(743	)
Employer contributions		420			571
Settlements		(490	)		(509	)
Benefits and expenses paid		(869	)		(809	)
Balance at end of period	$	11,483		$	11,365
Reconciliation of funded status:
Projected benefit obligation	$	16,217		$	14,975
Fair value of plan assets		11,483			11,365
Unfunded status	$	(4,734	)	$	(3,610	)
Balance sheet classification:
Other long-term liabilities	$	4,734		$	3,610

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 1, 2020, February 2, 2019 and February 3, 2018 include the following components:

	February 1, 2020			February 2, 2019			February 3, 2018
Net pension cost:	(in thousands)
Interest cost on projected benefit obligation	$	581		$	580		$	641
Expected return on plan assets		(724	)		(890	)		(813	)
Amortization of unrecognized loss		784			662			842
Net pension cost	$	641		$	352		$	670
Other changes recognized in other comprehensive loss,    before taxes:
Unrecognized losses at the beginning of the year	$	6,303		$	5,903		$	7,280
Net periodic pension cost		(641	)		(352	)		(670	)
Employer contribution		420			571			586
Change in plan assets and benefit obligations		1,124			181			(1,293	)
Unrecognized losses at the end of year	$	7,206		$	6,303		$	5,903

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 1, 2020 and February 2, 2019:

	February 1, 2020			February 2, 2019
	in thousands
Change in benefit obligation:
Balance at beginning of period	$	507		$	530
Benefits and expenses paid		(33	)		(33	)
Interest costs		19			19
Actuarial (gain) loss		54			(9	)
Balance at end of year	$	547		$	507
Change in fair value of plan assets:
Balance at beginning of period	$	—		$	—
Employer contributions		33			33
Benefits and expenses paid		(33	)		(33	)
Balance at end of period	$	—		$	—
Projected benefit obligation	$	547		$	507
Reconciliation of funded status:
Projected benefit obligation	$	547		$	507
Fair value of plan assets		—			—
Unfunded Status	$	(547	)	$	(507	)
Balance sheet classification:
Other long-term liabilities	$	547		$	507

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 1, 2020			February 2, 2019			February 3, 2018
	in thousands
Other changes recognized in other comprehensive loss,    before taxes:
Unrecognized losses at the beginning of the year	$	28		$	37		$	157
Net periodic pension cost		(19	)		(19	)		(30	)
Employer contribution		33			33			32
Change in  benefit obligations		40			(23	)		(122	)
Unrecognized losses at the end of year	$	82		$	28		$	37