Supplemental Executive Retirement Plan

3 Months Ended

May 04, 2013

Compensation and Retirement Disclosure [Abstract]

Supplemental Executive Retirement Plan

(12) Supplemental Executive Retirement Plan

The components of net periodic pension cost for the three months ended May 4, 2013 and April 28, 2012 were as follows (in thousands):

	Three Months Ended
	May 4, 2013		Apr 28, 2012
Interest cost	$	586	$	598
Net amortization of unrecognized prior service cost	155		155
Net amortization of actuarial losses	277		835
Net periodic defined benefit pension cost	$	1,018	$	1,588

As a non-qualified pension plan, no dedicated funding of the SERP is required; however, the Company has made, and expects to continue to make, periodic payments into insurance policies held in a rabbi trust to fund the expected obligations arising under the non-qualified SERP. The amount of future payments may vary, depending on current estimates of final annual compensation and investment performance of the trust. The cash surrender values of the insurance policies were $49.3 million and $47.9 million as of May 4, 2013 and February 2, 2013, respectively, and were included in other assets in the Company’s condensed consolidated balance sheets. As a result of changes in the value of the insurance policy investments, the Company recorded unrealized gains of $1.5 million and $1.2 million in other income during the three months ended May 4, 2013 and April 28, 2012, respectively.