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Fair Value Disclosures
12 Months Ended
Feb. 01, 2020
Fair Value Disclosures [Abstract]  
Fair Value Disclosures Fair Value Disclosures
The estimated fair values of financial instruments which are presented herein have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required in interpreting market data to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of amounts the Company could realize in a current market exchange.
The fair value of the Company's long-term debt and subordinated debentures is based on market prices and are categorized as Level 1 in the fair value hierarchy.
The fair value of the Company's cash and cash equivalents and trade accounts receivable approximates their carrying values at February 1, 2020 and February 2, 2019 due to the short-term maturities of these instruments. The fair values of the Company's long-term debt at February 1, 2020 and February 2, 2019 were approximately $422 million and $384 million, respectively. The carrying value of the Company's long-term debt at February 1, 2020 and February 2, 2019 was approximately $366 million. The fair value of the subordinated debentures at February 1, 2020 and February 2, 2019 was approximately $211 million and $215 million, respectively. The carrying value of the subordinated debentures at February 1, 2020 and February 2, 2019 was $200 million.