Credit Facilities (Tables)

3 Months Ended

Apr. 29, 2023

CREDIT FACILITIES

Schedule of Outstanding Balances Under our Credit Facilities

The outstanding balances under our credit facilities were as follows:

	APRIL 29,							JANUARY 28,
	2023							2023
				UNAMORTIZED						UNAMORTIZED
				DEBT		NET				DEBT		NET
	INTEREST	OUTSTANDING		ISSUANCE		CARRYING		OUTSTANDING		ISSUANCE		CARRYING
	RATE(1)	AMOUNT		COSTS		AMOUNT		AMOUNT		COSTS		AMOUNT
	(dollars in thousands)
Asset based credit facility(2)	6.33%	$	—	$	—	$	—	$	—	$	—	$	—
Term loan B(3)	7.52%		1,970,000		(17,644)		1,952,356		1,975,000		(18,471)		1,956,529
Term loan B-2(4)	8.33%		497,500		(23,409)		474,091		498,750		(24,505)		474,245
Equipment promissory notes(5)	—		—		—		—		1,160		—		1,160
Total credit facilities		$	2,467,500	$	(41,053)	$	2,426,447	$	2,474,910	$	(42,976)	$	2,431,934

(1) Interest rates for the asset based credit facility and term loans represent the weighted-average interest rates as of April 29, 2023.

(2) Deferred financing fees associated with the asset based credit facility as of April 29, 2023 and January 28, 2023 were $3.3 million and $3.5 million, respectively, and are included in other non-current assets on the condensed consolidated balance sheets. The deferred financing fees are amortized on a straight-line basis over the life of the revolving line of credit.

(3) Represents the Term Loan Credit Agreement (defined below), of which outstanding amounts of $1,950 million and $20 million were included in term loan—net and other current liabilities on the condensed consolidated balance sheets, respectively, as of April 29, 2023. Outstanding amounts of $1,955 million and $20 million were included in term loan—net and other current liabilities, respectively, on the condensed consolidated balance sheets as of January 28, 2023.

(4) Represents the outstanding balance of the Term Loan B-2 (defined below) under the Term Loan Credit Agreement, of which outstanding amounts of $493 million and $5.0 million were included in term loan B-2—net and other current liabilities, respectively, on the condensed consolidated balance sheets as of April 29, 2023. Outstanding amounts of $494 million and $5.0 million were included in term loan B-2—net and other current liabilities, respectively, on the condensed consolidated balance sheets as of January 28, 2023.

(5) Represents total equipment security notes secured by certain of our property and equipment, which was included in other current liabilities on the condensed consolidated balance sheets as of January 28, 2023. The equipment security note was repaid in full as of April 29, 2023.