Employee Retirement Benefits (Tables)

12 Months Ended

Jan. 31, 2021

The accumulated benefit obligation is as follows:


	For the years ended January 31,
	2021		2020
Benefit obligation at beginning of year	$	9,073	$	8,001
Service cost	36		27
Interest cost	280		333
Actuarial loss and assumption changes	303		1,053
Retiree benefits paid	(332)		(341)
Benefit obligation at end of year	$	9,360	$	9,073

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,
	2021		2020
Amounts not yet recognized in net periodic benefit cost:
Net actuarial loss	$	2,817	$	3,070
Prior service cost	290		(253)
Total pre-tax accumulated other comprehensive loss	$	3,107	$	2,817

Pre-tax accumulated other comprehensive loss - beginning of year related to benefit obligation	$	2,817	$	1,701
Reclassification adjustments recognized in benefit cost:
Recognized net (loss)	(173)		(97)
Amortization of prior service cost	160		160
Amounts recognized in AOCI during the year:
Net actuarial loss	303		1,053
Pre-tax accumulated other comprehensive loss - end of year related to benefit obligation	$	3,107	$	2,817

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,
	2021			2020
Beginning liability balance	$	9,073		$	8,001
Net periodic benefit cost	329			297
Other comprehensive loss	290			1,116
Total recognized in net periodic benefit cost and other comprehensive income	619			1,413
Retiree benefits paid	(332)			(341)
Ending liability balance	$	9,360		$	9,073

Current portion in accrued liabilities	$	364		$	332
Long-term portion in other liabilities	$	8,996		$	8,741

Assumptions used to calculate benefit obligation:
Discount rate	2.90		%	3.14		%
Rate of compensation increase	4.00		%	4.00		%
Health care cost trend rates:
Health care cost trend rate assumed for next year	6.00		%	6.17		%
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	3.14		%	4.25		%
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:


	2022		2023		2024		2025		2026		2027 - 2030
Expected postretirement medical and other benefit payments	$	369	$	377	$	379	$	378	$	384	$	2,049