Other Postretirement Benefit Plans (Tables)

12 Months Ended

Jan. 30, 2021

Compensation And Retirement Disclosure [Abstract]

Obligations and funded status

Obligations and Funded Status

The measurement date of the assets and liabilities for postretirement medical and life insurance plans is the month-end date that is closest to our fiscal year end.

Change in Benefit Obligation

	Other Benefits
(In thousands)	2021			2020
Benefit obligation at beginning of year	$	7,025		$	4,525
Service cost		89			89
Interest cost		124			151
Plan participants’ contributions		134			111
Asset transfer		—			—
Benefits paid		(550	)		(591	)
Actuarial (gain) loss		(1,216	)		2,740
Benefit Obligation at End of Year	$	5,606		$	7,025
Funded Status at End of Year	$	(5,606	)	$	(7,025	)

Amounts recognized in the consolidated balance sheets

Amounts recognized in the Consolidated Balance Sheets consist of:

	Other Benefits
(In thousands)	2021			2020
Current liabilities	$	(708	)	$	(603	)
Noncurrent liabilities		(4,898	)		(6,422	)
Net Amount Recognized	$	(5,606	)	$	(7,025	)

Amounts recognized in accumulated other comprehensive income

Amounts recognized in accumulated other comprehensive income consist of:

	Other Benefits
(In thousands)	2021			2020
Prior service cost	$	(322	)	$	(1,244	)
Net loss (gain)		1,040			2,384
Total Recognized in Accumulated Other Comprehensive Loss	$	718		$	1,140

Components of net periodic benefit cost

Net Periodic Benefit Cost

	Other Benefits
(In thousands)	2021			2020			2019
Service cost	$	89		$	89		$	409
Interest cost		124			151			214
Amortization:
Prior service cost		(921	)		(921	)		(231	)
Losses		128			22			37
Net amortization		(793	)		(899	)		(194	)
Other components of net periodic benefit cost	$	(669	)	$	(748	)	$	20
Net Periodic Benefit Cost - Ongoing Operations	$	(580	)	$	(659	)	$	429
Net Periodic Benefit Cost - Discontinued    Operations	$	—		$	—		$	(877	)

Reconciliation of accumulated other comprehensive income

Reconciliation of Accumulated Other Comprehensive Income

	Other Benefits
(In thousands)	2021
Net (gain) loss	$	(1,216	)
Amortization of prior service cost		921
Amortization of net actuarial loss		(128	)
Total Recognized in Other Comprehensive Income	$	(423	)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$	(1,003	)

Weighted-average assumptions used to determine benefit obligations

Weighted-average assumptions used to determine benefit obligations

	Other Benefits
	2021			2020
Discount rate		1.49	%		2.21	%
Rate of compensation increase	NA			NA

Weighted-average assumptions used to determine net periodic benefit costs

Weighted-average assumptions used to determine net periodic benefit costs

	Other Benefits
	2021			2020			2019
Discount rate		1.49	%		3.48	%		3.67	%
Expected long-term rate of return on plan assets	NA			NA			NA
Rate of compensation increase	NA			NA			NA

Assumed health care cost trend rates

Assumed health care cost trend rates

	2021			2020
Health care cost trend rate assumed for next year		6.25	%		7.25	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)		5.75	%		6.25	%
Year that the rate reaches the ultimate trend rate	2023			2024

Expected benefit payments from the trust, including future service and pay

Expected benefit payments for other postretirement benefits, paid from the employee benefit trust, are as follows:

Estimated future payments	Other Benefits ($ in millions)
2021	$	0.7
2022		0.6
2023		0.6
2024		0.5
2025		0.5
2026 – 2030		2.0