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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Jan. 31, 2015
EMPLOYEE BENEFIT PLANS  
Schedule of benefit obligations, fair value of plan assets and funded status of the plans

                                                                                                                                                                                    

 

 

Pension Benefits

 

Medical and Life
Insurance Benefits

 

 

 

2014

 

2013

 

2014

 

2013

 

Change in benefit obligation:

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit obligation at beginning of year

 

$

198,360

 

$

219,135

 

$

2,322

 

$

3,493

 

Interest cost

 

 

7,990

 

 

7,993

 

 

89

 

 

122

 

Participant contributions

 

 

 

 

 

 

82

 

 

100

 

Benefits paid

 

 

(17,997

)

 

(15,520

)

 

(272

)

 

(329

)

Actuarial loss (gain)

 

 

32,184

 

 

(13,248

)

 

(49

)

 

(1,064

)

​  

​  

​  

​  

​  

​  

​  

​  

Benefit obligation at end of year

 

 

220,537

 

 

198,360

 

 

2,172

 

 

2,322

 

​  

​  

​  

​  

​  

​  

​  

​  

Change in the fair value of plan assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Plan assets at beginning of year

 

 

147,994

 

 

137,577

 

 

 

 

 

Actual return on plan assets

 

 

8,882

 

 

12,707

 

 

 

 

 

Company contributions

 

 

12,945

 

 

13,230

 

 

190

 

 

229

 

Participant contributions

 

 

 

 

 

 

82

 

 

100

 

Benefits paid

 

 

(17,997

)

 

(15,520

)

 

(272

)

 

(329

)

​  

​  

​  

​  

​  

​  

​  

​  

Plan assets at end of year

 

 

151,824

 

 

147,994

 

 

 

 

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

Funded status

 

$

(68,713

)

$

(50,366

)

$

(2,172

)

$

(2,322

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of amounts recognized in the consolidated balance sheets

                                                                                                                                                                                    

 

 

Pension Benefits

 

Medical and Life
Insurance Benefits

 

 

 

2014

 

2013

 

2014

 

2013

 

Accrued expenses

 

$

(701

)

$

(808

)

$

(355

)

$

(411

)

Other long-term liabilities

 

 

(68,012

)

 

(49,558

)

 

(1,817

)

 

(1,911

)

​  

​  

​  

​  

​  

​  

​  

​  

Net amount recognized

 

$

(68,713

)

$

(50,366

)

$

(2,172

)

$

(2,322

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of amounts recognized in AOCI

                                                                                                                                                                                    

 

 

Pension Benefits

 

Medical and Life
Insurance Benefits

 

 

 

2014

 

2013

 

2014

 

2013

 

Net actuarial loss (gain):

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross amount recognized

 

$

77,073

 

$

47,586

 

$

(2,289

)

$

(2,759

)

Deferred tax expense

 

 

5,346

 

 

5,346

 

 

275

 

 

275

 

​  

​  

​  

​  

​  

​  

​  

​  

Net amount recognized

 

$

82,419

 

$

52,932

 

$

(2,014

)

$

(2,484

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of components of net periodic benefit expense (income) and other amounts recognized in OCI before income taxes

                                                                                                                                                                                    

 

 

Pension Benefits

 

Medical and Life
Insurance Benefits

 

 

 

2014

 

2013

 

2012

 

2014

 

2013

 

2012

 

Net periodic benefit expense (income):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

$

7,990

 

$

7,993

 

$

8,468

 

$

89

 

$

122

 

$

142

 

Expected return on plan assets

 

 

(9,959

)

 

(8,942

)

 

(8,628

)

 

 

 

 

 

 

Recognition of net actuarial loss (gain)          

 

 

3,774

 

 

6,566

 

 

6,758

 

 

(519

)

 

(363

)

 

(374

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net periodic benefit expense (income)          

 

 

1,805

 

 

5,617

 

 

6,598

 

 

(430

)

 

(241

)

 

(232

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Other changes in plan assets and benefit obligations recognized in OCI, before taxes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial net loss (gain)

 

 

33,261

 

 

(17,013

)

 

5,374

 

 

(49

)

 

(1,064

)

 

(104

)

Recognition of net actuarial (loss) gain          

 

 

(3,774

)

 

(6,566

)

 

(6,758

)

 

519

 

 

363

 

 

374

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total recognized in OCI, before taxes          

 

 

29,487

 

 

(23,579

)

 

(1,384

)

 

470

 

 

(701

)

 

270

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total recognized in net periodic cost and OCI, before taxes

 

$

31,292

 

$

(17,962

)

$

5,214

 

$

40

 

$

(942

)

$

38

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of estimated amount that will be amortized from AOCI to net periodic cost over the next fiscal year

          The Company estimates the following amounts will be amortized from AOCI to net periodic cost during 2015:                                                                                                                                                                          

 

 

Pension
Benefits

 

Medical and
Life Insurance
Benefits

 

Net actuarial loss (gain)

 

$

6,792

 

$

(426

)

 

Schedule of weighted average assumptions used to determine net periodic benefit obligations and net periodic benefit expense (income)

                                                                                                                                                                                    

 

 

Pension
Benefits

 

Medical and
Life Insurance
Benefits

 

 

 

2014

 

2013

 

2014

 

2013

 

Discount rate

 

 

3.20 

%

 

4.20 

%

 

3.20 

%

 

4.20 

%

Rate of compensation increase

 

 

N/A

 

 

N/A

 

 

N/A

 

 

N/A

 

 

                                                                                                                                                                                    

 

 

Pension Benefits

 

Medical and Life
Insurance Benefits

 

 

 

2014

 

2013

 

2012

 

2014

 

2013

 

2012

 

Discount rate

 

 

4.20 

%

 

3.80 

%

 

4.10 

%

 

4.20 

%

 

3.80 

%

 

4.10 

%

Expected long-term return on plan assets

 

 

6.80 

%

 

6.60 

%

 

7.20 

%

 

N/A

 

 

N/A

 

 

N/A

 

Rate of compensation increase

 

 

N/A

 

 

N/A

 

 

N/A

 

 

N/A

 

 

N/A

 

 

N/A

 

 

Schedule of effects of one-percentage point change in assumed health care costs

 

                                                                                                                                                                                    

 

 

 

 

 

 

 

 

 

 

One-
Percentage
Point
Increase

 

One-
Percentage
Point
Decrease

 

Effect on total service and interest cost components

 

$

4

 

$

(3

)

Effect on postretirement benefit obligation

 

 

96

 

 

(85

)

 

Schedule of weighted average pension plan asset allocation

 

                                                                                                                                                                                    

 

 

 

 

 

 

 

 

 

 

2014

 

2013

 

Cash and cash equivalents

 

 

%

 

%

Equity securities

 

 

47 

%

 

57 

%

Debt securities

 

 

41 

%

 

32 

%

Hedge funds

 

 

10 

%

 

10 

%

 

Schedule of fair value of each class of the pension plan assets

 

        The fair value of each class of the pension plan assets as of January 31, 2015 is as follows:

                                                                                                                                                                                    

 

 

Quoted
Prices
in Active
Markets
(Level 1)

 

Significant
Other
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Total

 

Cash and cash equivalents

 

$

11 

 

$

3,358 

 

$

 

$

3,369 

 

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. large-cap companies—diversified sectors          

 

 

9,472 

 

 

 

 

 

 

9,472 

 

U.S. small-cap companies—diversified sectors          

 

 

3,365 

 

 

 

 

 

 

3,365 

 

Real estate investment trust companies

 

 

446 

 

 

 

 

 

 

446 

 

Mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income(1)

 

 

5,059 

 

 

 

 

 

 

5,059 

 

International emerging economies fixed income

 

 

5,394 

 

 

 

 

 

 

5,394 

 

Floating rate debt securities

 

 

3,888 

 

 

 

 

 

 

3,888 

 

Real estate investment trust companies

 

 

4,841 

 

 

 

 

 

 

4,841 

 

Pooled funds(2):

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. large-cap equity

 

 

 

 

19,933 

 

 

 

 

19,933 

 

U.S. small-cap equity

 

 

 

 

1,323 

 

 

 

 

1,323 

 

International small-cap equity

 

 

 

 

4,321 

 

 

 

 

4,321 

 

International developed economies equity

 

 

 

 

19,002 

 

 

 

 

19,002 

 

International emerging economies equity

 

 

 

 

8,785 

 

 

 

 

8,785 

 

Fixed income(1)

 

 

 

 

47,576 

 

 

 

 

47,576 

 

Multi-strategy hedge funds(3)

 

 

 

 

15,050 

 

 

 

 

15,050 

 

​  

​  

​  

​  

​  

​  

​  

​  

Total

 

$

32,476 

 

$

119,348 

 

$

 

$

151,824 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 


(1)

Primarily invested in U.S. government securities, municipals, mortgage-backed securities and investment grade and high yield bonds.

(2)

Certain investments in this category are subject to monthly redemption frequency restrictions, subject to 10 day advance notification requirements. Pooled funds consist primarily of common collective trust and 102-12 investment entities.

(3)

These investments are subject to a redemption frequency restriction of quarterly, subject to advance notification requirements ranging from 60 to 91 days.

        

The fair value of each class of the pension plan assets as of February 1, 2014 is as follows:

                                                                                                                                                                                    

 

 

Quoted
Prices
in Active
Markets
(Level 1)

 

Significant
Other
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Total

 

Cash and cash equivalents

 

$

66 

 

$

2,193 

 

$

 

$

2,259 

 

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. large-cap companies—diversified sectors          

 

 

8,097 

 

 

 

 

 

 

8,097 

 

U.S. small-cap companies—diversified sectors          

 

 

4,082 

 

 

 

 

 

 

4,082 

 

Real estate investment trust companies

 

 

537 

 

 

 

 

 

 

537 

 

Mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income(1)

 

 

23,841 

 

 

 

 

 

 

23,841 

 

Pooled funds(2):

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. large-cap equity

 

 

 

 

39,444 

 

 

 

 

39,444 

 

U.S. small-cap equity

 

 

 

 

2,593 

 

 

 

 

2,593 

 

International developed economies equity

 

 

 

 

24,933 

 

 

 

 

24,933 

 

International emerging economies equity

 

 

 

 

 

3,907 

 

 

 

 

 

3,907 

 

Fixed income(1)

 

 

 

 

24,219 

 

 

 

 

24,219 

 

Multi-strategy hedge funds(3)

 

 

 

 

14,082 

 

 

 

 

14,082 

 

​  

​  

​  

​  

​  

​  

​  

​  

Total

 

$

36,623 

 

$

111,371 

 

$

 

$

147,994 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


(1)

Primarily invested in U.S. government securities, municipals, mortgage-backed securities and investment grade and high yield bonds.

(2)

Certain investments in this category are subject to monthly redemption frequency restrictions, subject to 10 day advance notification requirements. Pooled funds consist primarily of common collective trust and 102-12 investment entities.

(3)

These investments are subject to a redemption frequency restriction of quarterly, subject to advance notification requirements ranging from 60 to 91 days.

        

Schedule of changes in the fair value of the pension plans level 3 assets

                                                                                                                                                                                    

 

 

2014

 

2013

 

Fair value at beginning of year

 

$

 

$

738

 

Gain on plan assets relating to assets still held at the reporting date

 

 

 

 

23

 

Transfers out of level 3, net

 

 

 

 

(761

)

​  

​  

​  

​  

Fair value at end of year

 

$

 

$

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of information about the expected cash flows related to the pension and other postretirement benefit plans

                                                                                                                                                                                    

 

 

Pension
Benefits

 

Medical and
Life Insurance
Benefits

 

Expected company contributions in 2015

 

$

6,677 

 

$

355 

 

Expected plan benefit payments (net of expected participant contributions) for year:

 

 


 

 

 


 

 

2015

 

$

15,859 

 

$

355 

 

2016

 

 

15,233 

 

 

315 

 

2017

 

 

14,634 

 

 

278 

 

2018

 

 

14,188 

 

 

242 

 

2019

 

 

13,580 

 

 

209 

 

2020-2024

 

 

62,598 

 

 

670