Pension and Retirement Savings Plan (Tables)

12 Months Ended

Jan. 31, 2025

Retirement Benefits [Abstract]

Components of Net Periodic Pension Costs

The components of the net periodic pension costs for the fiscal years ended January 31, 2025, 2024 and 2023 are as follows:

(Amounts in thousands)	2025			2024			2023
Service cost	$	1,146		$	1,069		$	1,138
Interest cost		505			593			57
Expected return on assets		(998	)		(754	)		(439	)
Actuarial gain recognized due to partial settlement		(114	)		-			(105	)
Amortization of prior service costs		68			76			71
Net Periodic Pension Cost	$	607		$	984		$	722

Reconciliation of Change in Benefit Obligation, Change in Plan Assets and Net Amount Recognized in Consolidated Balance Sheets

A reconciliation of the change in benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheets are shown below (based on a January 31 measurement date):

(Amounts in thousands)	2025			2024
Change in benefit obligation:
Pension benefit obligation at beginning of period	$	34,424		$	29,109
Service cost		1,146			1,069
Interest cost		505			593
Benefits (paid)/deposited		(1,798	)		623
Prior service credit		-			(74	)
Employee contributions		887			898
Actuarial losses		1,200			230
Foreign currency exchange rate impact		(1,936	)		1,976
Pension benefit obligation at end of year		34,428			34,424
Change in plan assets:
Fair value of plan assets at beginning of period	$	33,731		$	27,965
Company contributions		1,333			1,350
Benefits (paid)/deposited		(1,798	)		623
Actual return on plan assets		2,075			974
Employee contributions		887			898
Foreign currency exchange rate impact		(1,915	)		1,921
Fair value of plan assets at end of year		34,313			33,731
Funded status - consolidated	$	(115	)	$	(693	)
Amounts recognized in the Consolidated Balance Sheets    consist of:
Other non-current liabilities		(115	)		(693	)
Amounts recognized in accumulated other    comprehensive income/(loss):
Prior service cost		83			151
Net actuarial loss		2,145			2,031
Tax effect		(475	)		(465	)
Net amount recognized, after tax	$	1,753		$	1,717
Accumulated benefit obligation	$	34,142		$	34,244

Weighted Average Assumptions Used to Calculate Benefit Obligations and Net Periodic Pension Cost

The weighted average assumptions that were used to determine the Company’s benefit obligations as of the measurement date (January 31) were as follows:

	2025			2024			2023
Discount rate		1.00	%		1.50	%		1.90	%
Salary progression rate		1.10	%		1.10	%		1.10	%
Expected long-term rate of return on plan assets		3.20	%		3.00	%		2.50	%

The weighted average assumptions that were used to determine the Company’s net periodic pension cost were as follows:

	2025			2024			2023
Discount rate		1.50	%		1.90	%		0.20	%
Salary progression rate		1.10	%		1.10	%		1.10	%
Expected long-term rate of return on plan assets		3.00	%		2.50	%		1.50	%

Schedule of Expected Benefit Payments of Pension Plans

The Company expects the following benefit payments to be paid out for the fiscal years indicated. The expected benefit payments are based on the same assumptions used to measure the Company’s benefit obligation at January 31, 2025 and include estimated future employee service. The Company does not expect any plan assets to be returned to it during the fiscal year ending January 31, 2026. Payments from the pension plan are made from the plan assets.

Fiscal Year ending January 31,	(in thousands)
2026	$	410
2027		567
2028		466
2029		612
2030		1,189
2031-2035		4,156