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Debt (Tables)
6 Months Ended
Jul. 28, 2023
Debt Disclosure [Abstract]  
Summary of Company's Maximum Borrowing Availability Under ABL Facility

 

 

 

July 28, 2023

 

July 29, 2022

 

January 27, 2023

(in thousands)

 

Amount

 

 

Interest Rate

 

Amount

 

 

Interest Rate

 

Amount

 

 

Interest Rate

ABL Facility Limit

 

$

275,000

 

 

 

 

$

275,000

 

 

 

 

$

275,000

 

 

 

Borrowing Base

 

 

207,326

 

 

 

 

 

288,498

 

 

 

 

 

274,354

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding borrowings

 

 

70,000

 

 

6.82%

 

 

135,000

 

 

3.51%

 

 

100,000

 

 

6.27%

Outstanding letters of credit

 

 

8,554

 

 

 

 

 

13,828

 

 

 

 

 

10,557

 

 

 

ABL Facility utilization at end of period

 

 

78,554

 

 

 

 

 

148,828

 

 

 

 

 

110,557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ABL Facility borrowing availability

 

$

128,772

 

 

 

 

$

126,172

 

 

 

 

$

163,797

 

 

 

 

Schedule of Company's Long Term Debt

The Company’s long-term debt consisted of the following:

 

 

 

July 28, 2023

 

July 29, 2022

 

January 27, 2023

(in thousands)

 

Amount

 

 

Interest Rate

 

Amount

 

 

Interest Rate

 

Amount

 

 

Interest Rate

Term Loan Facility

 

$

237,188

 

 

14.97%

 

$

250,938

 

 

12.12%

 

$

244,063

 

 

14.13%

Less: Current portion of long-term debt

 

 

13,750

 

 

 

 

 

13,750

 

 

 

 

 

13,750

 

 

 

Less: Unamortized debt issuance costs

 

 

5,416

 

 

 

 

 

8,240

 

 

 

 

 

6,807

 

 

 

Long-term debt, net

 

$

218,022

 

 

 

 

$

228,948

 

 

 

 

$

223,506