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Shareholders' Equity
 9 Months Ended
Nov. 02, 2024
Share-Based Payment Arrangement [Abstract]  
Shareholders' Equity Shareholders’ Equity: From time to time, we repurchase our common stock mainly through open market repurchase plans. On December 10, 2024, our Board of Directors authorized us to spend up to $100 million to repurchase shares of our stock. This authorization superseded and replaced all previous authorizations to repurchase shares of our stock and has no automatic expiration. During the Third Quarter of Fiscal 2024 and First Nine Months of Fiscal 2024, there were no repurchases of our stock pursuant to any previous authorization. During the Third Quarter of Fiscal 2023 and First Nine Months of Fiscal 2023, we repurchased 10,000 and 196,000 shares of our common stock, respectively, as part of an open market repurchase program at a cost of $1 million and $20 million, respectively.
We also repurchase shares from our employees to cover employee tax liabilities related to the vesting of shares of our common stock. During the First Nine Months of Fiscal 2024 and the First Nine Months of Fiscal 2023, we repurchased $6 million and $10 million of shares, respectively, from our employees to cover employee tax liabilities related to the vesting of shares of our common stock.
Long-Term Stock Incentive Plan and Equity Compensation Expense
In recent years, we have granted a combination of service-based restricted share awards and awards based on relative total shareholder return ("TSR") to certain select employees.
Service-Based Restricted Share Awards
The table below summarizes the service-based restricted share awards, including both restricted shares and restricted share units, activity for the First Nine Months of Fiscal 2024:
First Nine Months of Fiscal 2024
Number of
Shares or
Units
Weighted-
average
grant date
fair value
Awards outstanding at beginning of year158,794$99
Awards granted66,188$111
Awards vested, including awards repurchased from employees for employees’ tax liability(34,455)$84
Awards forfeited(1,869)$99
Awards outstanding on November 2, 2024188,658$105
TSR-based Restricted Share Units
The table below summarizes the TSR-based restricted share unit activity at target for the First Nine Months of Fiscal 2024:
First Nine Months of Fiscal 2024
Number of
Share Units
Weighted-
average
grant date
fair value
TSR-based awards outstanding at beginning of year192,163$129
TSR-based awards granted80,245$140
TSR-based restricted shares earned and vested, including restricted share units repurchased from employees for employees’ tax liability(52,200)$117
TSR-based awards forfeited(580)$146
TSR-based awards outstanding on November 2, 2024219,628$136
As disclosed in Note 1 to our consolidated financial statements contained in our Fiscal 2023 Form 10-K, the fair value of TSR-based awards is not tied to the price of our common stock at any fixed point in time; rather, the fair value of TSR-based awards is determined using a Monte Carlo simulation model, which models multiple TSR paths for our common stock as well as the comparator group, as applicable, to evaluate and determine the estimated fair value of the award.