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Retirement Plans (Tables)
 12 Months Ended
Jan. 31, 2021
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, 2021 and 2020:
 Combined Employee Retirement Plans
1/31/20211/31/2020
Change in Benefit Obligation
Benefit obligation at beginning of year$43,292 $36,299 
Service cost— — 
Interest cost1,211 1,382 
Participant contributions— — 
Amendments— — 
Actuarial losses (gains) 1,588 8,280 
Plan settlement— — 
Benefits paid(1,913)(2,669)
Benefit obligation at end of year$44,178 $43,292 
Change in Plan Assets
Fair value at beginning of year $23,654 $23,527 
Actual return on plan assets1,591 1,806 
Company contributions640 990 
Settlements— — 
Benefits paid(1,913)(2,669)
Fair value at end of year$23,972 $23,654 
Funded Status
Unfunded status of the plans$(20,206)$(19,638)
Amounts Recognized in Statement of Financial Position
Current liabilities$(364)$(314)
Non-current liabilities(19,842)(19,324)
Accrued benefit cost$(20,206)$(19,638)
Amounts Recognized in Statement of Financial Position and Operations
Accrued benefit liability(20,206)(19,638)
Accumulated other compensation loss14,444 15,427 
Net amount recognized$(5,762)$(4,211)
Items not yet Recognized as a Component of Net Periodic Pension Expense, Included in AOCI
Unrecognized net actuarial loss$14,444 $15,427 
Unamortized prior service costs— — 
Net initial asset recognition— — 
$14,444 $15,427 
 Combined Employee Retirement Plans
1/31/20211/31/2020
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Net loss$849 $7,885 
Prior service cost— — 
Amortization of loss(1,831)(776)
Amortization of prior service cost (credit)— — 
Amortization of initial asset— — 
Total recognized in other comprehensive (loss) income $(982)$7,109 
Items to be Recognized as a Component of Periodic Pension Cost for next fiscal year
Prior service cost$— $— 
Net actuarial loss 1,771 1,872 
$1,771 $1,872 
Supplemental Data
Projected benefit obligation$44,178 $43,292 
Accumulated benefit obligation44,178 43,292 
Fair value of plan assets23,972 23,654 
Components of Net Cost
Service cost$— $— 
Interest cost1,211 1,382 
Expected return on plan assets(869)(1,432)
Amortization of transition amount— — 
Recognized (gain) loss due to settlement— — 
Amortization of prior service cost— — 
Recognized net actuarial loss1,831 776 
Benefit cost$2,173 $726 
Estimated Future Benefit Payments
FYE 01-31-2022$6,724 
FYE 01-31-20233,122 
FYE 01-31-20242,791 
FYE 01-31-20253,169 
FYE 01-31-20262,647 
FYE 01-31-2027 to 203111,917 
Total$30,370 
Weighted Average Assumptions to Determine Benefit Obligations at
Year-End
Discount rate
2.75% -2.80%
3.00% - 3.05%
Rate of compensation increaseN/AN/A
Weighted Average Assumptions to Determine Net Periodic Pension Cost
Discount rate
3.00% - 3.05%
4.10%
Expected return on plan assets6.00%6.50%
Rate of compensation increaseN/AN/A
Fair value measurements of plan assets
1/31/20211/31/2020
Level 1 Measurement
Common Stock10,323 10,080 
Principal Money Market458 799 
PNC Govt Money Fund271 175 
Vanguard INTM Term Investment410 250 
Vanguard LT Investment1,044 1,161 
Ishares Russell 20001,724 1,560 
Ishares Russell MID-CAP1,890 1,850 
Ishares Emerging Markets1,191 1,103 
Ishares MCSI RAFE1,636 1,577 
Ishares S&P Index2,091 2,252 
  Vanguard INTM Term Treasury410 250 
  Vanguard LT Treasury1,047 1,183 
Total Level 1 Investments$22,495 $22,240 
Life insurance liability The following sets forth the Company's change in death benefits payable during the years ended January 31, 2021 and 2020:
1/31/20211/31/2020
Liability beginning of year$1,986,000 $2,037,000 
Accretion expense48,000 49,000 
Death benefits paid— (100,000)
Liability end of year$2,034,000 $1,986,000