v3.26.1
Fair Value Measurements
 6 Months Ended
Aug. 01, 2026
Fair Value Measurements [Abstract]  
Fair Value Measurements
NOTE 7
– FAIR VALUE MEASUREMENTS:
The following
tables
set forth
information regarding
the
Company’s financial
assets and
liabilities that
are
measured at fair value (in thousands)
as of August 1, 2026 and
January 31, 2026:
Quoted
Prices in
Active
Significant
Markets for
Other
Significant
Identical
Observable
Unobservable
August 1, 2026
Assets
Inputs
Inputs
Description
Level 1
Level 2
Level 3
Assets:
Corporate Bonds
$
58,650
$
-
$
58,650
$
-
Cash Surrender Value of Life Insurance
9,982
-
-
9,982
Total Assets
$
68,632
$
-
$
58,650
$
9,982
Liabilities:
Deferred Compensation
$
(8,289)
$
-
$
-
$
(8,289)
Total Liabilities
$
(8,289)
$
-
$
-
$
(8,289)
NOTE 7
– FAIR VALUE MEASUREMENTS
(CONTINUED):
Quoted
Prices in
Active
Significant
Markets for
Other
Significant
Identical
Observable
Unobservable
January 31, 2026
Assets
Inputs
Inputs
Description
Level 1
Level 2
Level 3
Assets:
Corporate Bonds
54,822
-
54,822
-
U.S. Treasury/Agencies Notes and Bonds
2,037
-
2,037
-
Cash Surrender Value of Life Insurance
9,693
-
-
9,693
Total Assets
$
66,552
$
-
$
56,859
$
9,693
Liabilities:
Deferred Compensation
$
(8,383)
$
-
$
-
$
(8,383)
Total Liabilities
$
(8,383)
$
-
$
-
$
(8,383)
The
Company’s investment
portfolio
was
primarily invested
in
corporate bonds
held in
managed accounts
with underlying
ratings of
A or
better at
August 1,
2026.
The corporate
bonds have
contractual maturities
which range from
two days
to
2.7
years.
Additionally,
at
August 1,
2026, the
Company had
deferred
compensation plan
assets of
$
10.0
million.
At
January
31,
2026,
the
Company
had
deferred
compensation
plan
assets
of
$
9.7
million.
These
assets
are
recorded within Other assets in the Condensed
Consolidated Balance Sheets.
Level 2 investment securities at
August 1, 2026 include
corporate bonds for which
quoted prices may not
be
available on active exchanges for identical
instruments.
Their fair value is principally based on market
values
determined by management with the assistance
of a third-party pricing service.
Since quoted prices in active
markets
for
identical
assets
are
not
available,
these
prices
are
determined
by
the
pricing
service
using
observable market information such as quotes from less active markets and/or quoted prices of securities with
similar characteristics, among other factors.
Deferred compensation plan
assets consist of
life insurance policies.
These life insurance
policies are valued
based on the cash surrender value of the insurance contract, which is determined based on
such factors as the
fair value of the underlying assets and discounted cash flow and are therefore classified within Level 3
of the
valuation
hierarchy.
The
Level
3
liability
associated
with
the
life
insurance
policies
represents
a
deferred
compensation obligation,
the value
of which
is tracked
via underlying
insurance funds’
net asset
values, as
recorded
in
Other
noncurrent
liabilities
in
the
Condensed
Consolidated
Balance
Sheets.
These
funds
are
designed to mirror mutual funds and money
market funds that are observable and
actively traded.
The
following
tables
summarize
the
change
in
fair
value
of
the
Company’s
financial
assets
and
liabilities
measured using Level 3 inputs for the six months ended August 1, 2026 and the year ended January
31, 2026
(in thousands):
Fair Value
Measurements Using
Significant Unobservable
Asset Inputs (Level 3)
Cash Surrender Value
Beginning Balance at January 31, 2026
$
9,693
Redemptions
-
Additions
-
Total gains or (losses):
Included in interest and other income, net (or
changes in net assets)
289
Ending Balance at August 1, 2026
$
9,982
Fair Value
Measurements Using
Significant Unobservable
Liability Inputs (Level 3)
Deferred Compensation
Beginning Balance at January 31, 2026
$
(8,383)
Redemptions
548
Additions
(111)
Total (gains) or losses:
Included in interest and other income, net (or
changes in net assets)
(343)
Ending Balance at August 1, 2026
$
(8,289)
NOTE 7
– FAIR VALUE MEASUREMENTS
(CONTINUED):
Fair Value
Measurements Using
Significant Unobservable
Asset Inputs (Level 3)
Cash Surrender Value
Beginning Balance at February 1, 2025
$
9,301
Redemptions
(365)
Additions
-
Total gains or (losses):
Included in interest and other income, net (or
changes in net assets)
757
Ending Balance at January 31, 2026
$
9,693
Fair Value
Measurements Using
Significant Unobservable
Liability Inputs (Level 3)
Deferred Compensation
Beginning Balance at February 1, 2025
$
(8,548)
Redemptions
1,246
Additions
(206)
Total (gains) or losses:
Included in interest and other income, net (or
changes in net assets)
(875)
Ending Balance at January 31, 2026
$
(8,383)