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Fair Value (Tables)

9 Months Ended

Oct. 30, 2021

Company's Assets and Liabilities Measured at Fair Value

The three levels of the hierarchy and the distribution of the Company’s assets and liabilities that were measured at fair value on a recurring basis, as of October 30, 2021 and January 30, 2021, were as follows:


	Assets and Liabilities at Fair Value as of October 30, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents (1)	$	42,307	$	46,622	$	—	$	88,929
Derivative instruments (2)	—		5,082		—		5,082
Rabbi Trust assets (3)	1		61,917		—		61,918
Restricted cash equivalents (1)	3,104		5,115		—		8,219
Total assets	$	45,412	$	118,736	$	—	$	164,148

Liabilities:
Derivative instruments (2)	$	—	$	86	$	—	$	86
Total liabilities	$	—	$	86	$	—	$	86


	Assets and Liabilities at Fair Value as of January 30, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents (1)	$	296,279	$	11,589	$	—	$	307,868
Derivative instruments (2)	—		79		—		79
Rabbi Trust assets (3)	1		60,789		—		60,790
Restricted cash equivalents (1)	2,943		7,775		—		10,718
Total assets	$	299,223	$	80,232	$	—	$	379,455

Liabilities:
Derivative instruments (2)	$	—	$	4,694	$	—	$	4,694
Total liabilities	$	—	$	4,694	$	—	$	4,694

(1) Level 1 assets consisted of investments in money market funds and U.S. treasury bills. Level 2 assets consisted of time deposits.

(2) Level 2 assets and liabilities consisted primarily of foreign currency exchange forward contracts.

(3) Level 1 assets consisted of investments in money market funds. Level 2 assets consisted of trust-owned life insurance policies.

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

The carrying amount and fair value of the Company’s long-term gross borrowings were as follows:


(in thousands)	October 30, 2021		January 30, 2021
Gross borrowings outstanding, carrying amount	$	307,730	$	350,000
Gross borrowings outstanding, fair value	$	332,641	$	389,813