Fair Value (Tables)

9 Months Ended

Nov. 02, 2024

Fair Value Disclosures [Abstract]

Company's Assets and Liabilities Measured at Fair Value

The following table provides the three levels of the hierarchy and the distribution of the Company’s assets measured at fair value on a recurring basis, as of November 2, 2024 and February 3, 2024:

	Assets and Liabilities at Fair Value as of November 2, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents (1)	$	149,605	$	42,209	$	—	$	191,814
Marketable securities (2)	—		55,790		—		55,790
Derivative instruments (3)	—		2,143		—		2,143
Rabbi Trust assets (4)	1,164		53,553		—		54,717
Restricted cash equivalents (1)	3,317		1,480		—		4,797
Total assets	$	154,086	$	155,175	$	—	$	309,261
Liabilities:
Derivative instruments (3)	$	—	$	419	$	—	$	419
Total liabilities	$	—	$	419	$	—	$	419

	Assets and Liabilities at Fair Value as of February 3, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents (1)	$	349,174	$	26,975	$	—	$	376,149
Derivative instruments (3)	—		1,092		—		1,092
Rabbi Trust assets (4)	1,164		52,521		—		53,685
Restricted cash equivalents (1)	4,282		1,420		—		5,702
Total assets	$	354,620	$	82,008	$	—	$	436,628
Liabilities:
Derivative instruments (3)	$	—	$	539	$	—	$	539
Total liabilities	$	—	$	539	$	—	$	539

(1)    Level 1 assets consisted of investments in money market funds and U.S. treasury bills. Level 2 assets consisted of time deposits with original maturities of less than three months.

(2)    Level 2 assets consisted of time deposits with original maturities greater than three months, but less than one year.

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

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