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Fair Value Measurements (Tables)

6 Months Ended

Jul. 30, 2022

Fair Values of Financial Assets and Hierarchy of Level of Inputs

The fair values of the Company’s financial assets and the hierarchy of the level of inputs as of July 30, 2022, January 29, 2022 and July 31, 2021 are summarized below:


	(in thousands)
	Fair Value Measurements at
	July 30,		January 29,		July 31,
	2022		2022		2021
Level 1
Cash equivalents (including restricted cash)	$	92,015	$	701,638	$	701,577

Fair Values of Financial Liabilities

The fair values of the Company’s financial liabilities are summarized below:


	(in thousands)
	July 30, 2022				January 29, 2022				July 31, 2021
	Principal Amount		Fair Value		Principal Amount		Fair Value		Principal Amount		Fair Value
Term B-6 Loans	$	951,801	$	925,626	$	956,608	$	955,412	$	961,415	$	954,204
Convertible Notes		507,687		523,136		572,322		724,703		805,000		1,319,733
ABL Line of Credit (a)		—		—		—		—		—		—
Total debt (b)	$	1,459,488	$	1,448,762	$	1,528,930	$	1,680,115	$	1,766,415	$	2,273,937

(a)

To the extent the Company has any outstanding borrowings under the ABL Line of Credit, the fair value would approximate its reported value, because the interest rate is variable and reflects current market rates, due to its short term nature.

(b)

The table above excludes finance lease obligations, debt discount and deferred debt costs.