Revolving Credit Facilities |
3 Months Ended |
|---|---|
May 03, 2026 | |
| Debt Disclosure [Abstract] | |
| Revolving Credit Facilities | Revolving Credit Facilities Americas revolving credit facility On October 15, 2025, the Company entered into an amended and restated unsecured revolving credit agreement, which provides for $600.0 million in commitments under an unsecured five-year revolving credit facility. The credit facility has a maturity date of October 15, 2030, subject to two one-year extensions at the request of the Company. Subject to the conditions stated in the credit agreement, the Company may request increases in aggregate commitments thereunder up to a total of $1.0 billion. The credit facility permits prepayment of borrowings and reductions or terminations of commitments from time to time without premium or penalty, subject to customary breakage costs. As of May 3, 2026, the Company had no borrowings outstanding under this credit facility other than $6.4 million in outstanding letters of credit and guarantee. Borrowings made under the credit facility bear interest at variable rates based on the Secured Overnight Financing Rate as administered by the Federal Reserve Bank of New York ("SOFR"), or an alternate base rate, plus applicable margin. The credit agreement contains customary financial, affirmative and negative covenants applicable to the Company and its subsidiaries, including limitations on indebtedness, liens, fundamental changes, dispositions of assets, changes in the nature of business, and restrictions on subsidiary dividends and distributions, as well as financial covenants based on leverage and fixed charge coverage ratios. The Company was in compliance with all such covenants as of May 3, 2026. China Mainland revolving credit facility The Company has an uncommitted and unsecured Chinese Yuan-denominated revolving credit facility totaling the equivalent of USD $43.9 million, which is reviewed annually and provides for short-term borrowing and the issuance of guarantees. As of May 3, 2026, there were no borrowings or guarantees outstanding, letters of credit totaling USD $13.6 million were issued, and the Company was in compliance with all applicable terms of the credit facility.
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