Fair Value

9 Months Ended

Nov. 02, 2024

Fair Value Disclosures [Abstract]

Fair Value

Note 18 – Fair Value

Assets and Liabilities Recorded at Fair Value on a Recurring Basis

We are currently performing the analysis needed to finalize the determination of the fair values and useful lives of the intangible assets we acquired as part of our acquisition of MTEX and the final purchase price for that acquisition, including the fair value of the contingent consideration. The fair value of the contingent consideration involves significant inputs not observable in the market and is therefore considered a Level 3 measurement. Refer to Note 3, “Acquisition,” for a discussion of fair value as it relates to our acquisition of MTEX.

Assets and Liabilities Not Recorded at Fair Value

Our long-term debt, including the current portion of long-term debt not reflected in the financial statements at fair value, is reflected in the table below:

	November 2, 2024
	Fair Value Measurement
(In thousands)	Level 1		Level 2		Level 3		Total		Carrying Value
Long-Term debt and related current maturities	$	—	$	—	$	27,451	$	27,451	$	27,493

	January 31, 2024
	Fair Value Measurement
(In thousands)	Level 1		Level 2		Level 3		Total		Carrying Value
Long-Term debt and related current maturities	$	—	$	—	$	13,026	$	13,026	$	12,972

The fair value of our long-term debt, including the current portion, is estimated by discounting the future cash flows using current interest rates at which similar loans with the same maturities would be made to borrowers with similar credit ratings and is classified as Level 3.