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Retirement Plans (Tables)
 12 Months Ended
Jan. 31, 2020
Retirement Benefits [Abstract]  
Schedule of pension plans
The following tables set forth (in thousands) the combined funded status of the Company’s pension plans at January 31, 2020 and 2019:
 
Combined Employee Retirement Plans
 
1/31/2020
 
1/31/2019
 
Change in Benefit Obligation
Benefit obligation at beg. of year
$
36,299

 
$
40,181

 
Service cost
—

 
—

 
Interest cost
1,382

 
1,459

 
Participant contributions
—

 
—

 
Amendments
—

 
—

 
Actuarial losses (gains)
8,280

 
(2,044
)
 
Plan settlement
—

 
(2,176
)
 
Benefits paid
(2,669
)
 
(1,121
)
 
Benefit obligation at end of year
$
43,292

 
$
36,299

 
Change in Plan Assets
 
 
 
 
Fair value at beg. of year
$
23,527

 
$
27,259

 
Actual return on plan assets
1,806

 
(1,557
)
 
Company contributions
990

 
1,122

 
Settlements
—

 
(2,176
)
 
Benefits paid
(2,669
)
 
(1,121
)
 
Fair value at end of year
$
23,654

 
$
23,527

 
Funded Status
 
 
 
 
Unfunded status of the plans
$
(19,638
)
 
$
(12,772
)
 
Amounts Recognized in Statement of Financial Position
 
 
 
 
Current liabilities
$
(314
)
 
$
(322
)
 
Non-current liabilities
(19,324
)
 
(12,450
)
 
Accrued benefit cost
$
(19,638
)
 
$
(12,772
)
 
Amounts Recognized in Statement of Financial Position and Operations
 
 
 
 
Accrued benefit liability
(19,638
)
 
(12,772
)
 
Accumulated other compensation loss
15,427

 
8,319

 
Net amount recognized
$
(4,211
)
 
$
(4,453
)
 
Items not yet Recognized as a Component of Net Periodic Pension Expense, Included in AOCI
 
 
 
 
Unrecognized net actuarial loss
$
15,427

 
$
8,319

 
Unamortized prior service costs
—

 
—

 
Net initial asset recognition
—

 
—

 
 
$
15,427

 
$
8,319

 





 
Combined Employee Retirement Plans
 
1/31/2020
 
1/31/2019
 
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net loss
$
7,885

 
$
1,039

 
Prior service cost
—

 
—

 
Amortization of loss
(776
)
 
(1,333
)
 
Amortization of prior service cost (credit)
—

 
—

 
Amortization of initial asset
—

 
—

 
Total recognized in other comprehensive income (loss)
$
7,109

 
$
(294
)
 
Items to be Recognized as a Component of Periodic Pension Cost for next fiscal year
 
 
 
 
Prior service cost
$
—

 
$
—

 
Net actuarial loss
1,872

 
706

 
 
$
1,872

 
$
706

 
Supplemental Data
 
 
 
 
Projected benefit obligation
$
43,292

 
$
36,299

 
Accumulated benefit obligation
43,292

 
36,299

 
Fair value of plan assets
23,654

 
23,527

 
Components of Net Cost
 
 
 
 
Service cost
$
—

 
$
—

 
Interest cost
1,382

 
1,459

 
Expected return on plan assets
(1,432
)
 
(1,535
)
 
Amortization of transition amount
—

 
—

 
Recognized (gain) loss due to settlement
—

 
—

 
Amortization of prior service cost
—

 
—

 
Recognized net actuarial loss
776

 
1,333

 
Benefit cost
$
726

 
$
1,257

 
Estimated Future Benefit Payments
 
 
 
 
FYE 01-31-2021
$
6,114

 
 
 
FYE 01-31-2022
2,992

 
 
 
FYE 01-31-2023
2,641

 
 
 
FYE 01-31-2024
2,549

 
 
 
FYE 01-31-2025
3,067

 
 
 
FYE 01-31-2026 to 2030
11,960

 
 
 
Total
$
29,323

 
 
 
Weighted Average Assumptions to Determine Benefit Obligations at
Year-End
 
 
 
 
Discount rate
3.00% - 3.05%
 
3.75% - 4.0%
 
Rate of compensation increase
N/A
 
N/A
 
Weighted Average Assumptions to Determine Net Periodic Pension Cost
 
 
 
 
Discount rate
4.10%
 
4.25%
 
Expected return on plan assets
6.50%
 
6.50%
 
Rate of compensation increase
N/A
 
N/A
 
Fair value measurements of plan assets
 
1/31/2020
 
1/31/2019
Level 1 Measurement
 
 
 
Common Stock
10,080

 
9,345

Principal Money Market
799

 
—

PNC Govt Money Fund
175

 
630

Vanguard INTM Term Investment
250

 
283

Vanguard LT Investment
1,161

 
1,304

Ishares Russell 2000
1,560

 
1,672

Ishares Russell MID-CAP
1,850

 
1,890

Ishares Emerging Markets
1,103

 
1,130

Ishares MCSI RAFE
1,577

 
1,534

Ishares S&P Index
2,252

 
2,895

  Vanguard INTM Term Treasury
250

 
281

  Vanguard LT Treasury
1,183

 
1,279

Total Level 1 Investments
$
22,240

 
$
22,243


 
 
 
Life insurance liability
The following sets forth the Company's change in death benefits payable during the years ended January 31, 2020 and 2019:
 
1/31/2020
 
1/31/2019
Liability beginning of year
$
2,037,000

 
$
2,088,000

Accretion expense
49,000

 
49,000

Death benefits paid
(100,000
)
 
(100,000
)
Liability end of year
$
1,986,000

 
$
2,037,000