Marketable Securities

12 Months Ended

Feb. 01, 2025

Investments, Debt and Equity Securities [Abstract]

Marketable securities as of February 1, 2025 consisted of commercial paper, classified as available-for-sale, and fixed income securities, classified as held-to-maturity, as we have the intent and ability to hold them to maturity. Our investments in commercial paper and fixed income securities are recorded at fair value and amortized cost, respectively, which approximates fair value. All of our marketable securities are less than one year from maturity.

The following table summarizes investments in marketable securities at February 1, 2025 and February 3, 2024 (in thousands):


	February 1, 2025
	Cost or Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Estimated Fair Value
Commercial paper	$	19,868	$	200	$	—	$	20,068
Fixed income securities	5,585		—		—		5,585
Total marketable securities	$	25,453	$	200	$	—	$	25,653

	February 3, 2024
	Cost or Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Estimated Fair Value
Commercial paper	$	44,072	$	438	$	—	$	44,510
Fixed income securities	3,511		—		—		3,511

Total marketable securities	$	47,583	$	438	$	—	$	48,021

For fiscal years 2024, 2023 and 2022, we recognized gains on investments for commercial paper of $1.8 million, $1.9 million and $0.4 million, respectively, which matured during the period. In determining those gains, we used the actual cost of the securities sold. Upon recognition of the gains, we reclassified these amounts out of accumulated other comprehensive income and into other income, net, on the accompanying Consolidated Statements of Operations.

For fiscal years 2024, 2023, and 2022 we purchased fixed income securities of $15.6 million, $3.5 million, and $15.1 million, respectively.

For fiscal years 2024, 2023, and 2022 we recognized maturities of fixed income securities of $13.5 million, $10.0 million and $37.4 million, respectively.