Employee Retirement Benefits (Tables)

12 Months Ended

Jan. 31, 2020

The accumulated benefit obligation is as follows:


	For the years ended January 31,
	2020		2019
Benefit obligation at beginning of year	$	8,001	$	8,571
Service cost	27		28
Interest cost	333		316
Actuarial (gain) loss and assumption changes	1,053		(473)
Retiree benefits paid	(341)		(441)
Benefit obligation at end of year	$	9,073	$	8,001

Schedule of pre-tax accumulated other comprehensive income related to benefit obligation and net periodic benefit cost not yet recognized

The following tables set forth the plan's pre-tax adjustment to accumulated other comprehensive income/loss:


	For the years ended January 31,
	2020		2019
Amounts not yet recognized in net periodic benefit cost:
Net actuarial loss	$	3,070	$	2,114
Prior service cost	(253)		(413)
Total pre-tax accumulated other comprehensive loss	$	2,817	$	1,701

Pre-tax accumulated other comprehensive loss - beginning of year related to benefit obligation	$	1,701	$	2,142
Reclassification adjustments recognized in benefit cost:
Recognized net (loss)	(97)		(128)
Amortization of prior service cost	160		160
Amounts recognized in AOCI during the year:
Net actuarial (gain) loss	1,053		(473)
Pre-tax accumulated other comprehensive loss - end of year related to benefit obligation	$	2,817	$	1,701

The liability and expense reflected in the balance sheet and income statement

The liability and net periodic benefit cost reflected in the Consolidated Balance Sheets and Consolidated Statements of Income and Comprehensive Income were as follows:


	For the years ended January 31,
	2020			2019
Beginning liability balance	$	8,001		$	8,571
Net periodic benefit cost	297			312
Other comprehensive (gain) loss	1,116			(441)
Total recognized in net periodic benefit cost and other comprehensive income	1,413			(129)
Retiree benefits paid	(341)			(441)
Ending liability balance	$	9,073		$	8,001

Current portion in accrued liabilities	$	332		$	323
Long-term portion in other liabilities	$	8,741		$	7,678

Assumptions used to calculate benefit obligation:
Discount rate	3.14		%	4.25		%
Rate of compensation increase	4.00		%	4.00		%
Health care cost trend rates:
Health care cost trend rate assumed for next year	6.17		%	6.33		%
Ultimate health care cost trend rate	4.50		%	4.50		%
Year that the rate reaches the ultimate trend rate	2030			2030
Assumptions used to calculate the net periodic benefit cost:
Discount rate	4.25		%	3.75		%
Rate of compensation increase	4.00		%	4.00		%

Schedule of future postretirement other pension benefit payments

The following postretirement other than pension benefit payments, which reflect expected future service as appropriate, are expected to be paid:


	2021		2022		2023		2024		2025		2026 - 2030
Expected postretirement medical and other benefit payments	$	337	$	344	$	349	$	350	$	349	$	1,864