v3.26.1
Fair Value Measurements
 3 Months Ended
May 02, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Certain assets and liabilities are required to be carried at fair value in accordance with GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.
The Company uses a three-level hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:
Level 1: Quoted market prices in active markets for identical assets or liabilities.
Level 2: Observable inputs other than quoted market prices included in Level 1 such as quoted market prices for markets that are not active or other inputs that are observable or can be corroborated by observable market data.
Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
Financial Assets and Liabilities
The fair value of the Company’s long-term debt is estimated based on current market rates for our specific debt instrument. Judgment is required to develop these estimates. As such, the estimated fair value of long-term debt is classified within Level 2, as defined under GAAP.
The gross carrying amount and fair value of the Company’s debt at May 2, 2026 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$375,000 $375,000 
First Lien Term Loan400,000 402,500 
Total Debt$775,000 $777,500 
The gross carrying amount and fair value of the Company’s debt at January 31, 2026 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$120,000 $120,000 
First Lien Term Loan400,000 404,252 
Total Debt$520,000 $524,252 
The gross carrying amount and fair value of the Company’s debt at May 3, 2025 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$150,000 $150,000 
First Lien Term Loan400,000 400,916 
Total Debt$550,000 $550,916 
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
The Company believes that the carrying amounts of its other financial instruments, including cash, accounts receivable, and accounts payable, approximate their fair values due to the short-term maturities of these instruments.