Defined Benefit Plans (Tables)

12 Months Ended

Feb. 02, 2019

Schedule of net periodic defined benefit pension cost and other charges to comprehensive income (loss) and accumulated other comprehensive income (loss)

The components of net periodic defined benefit pension cost to accumulated comprehensive income (loss) for fiscal 2019 related to the Company’s defined benefit plans are as follows (in thousands):



	Year Ended February 2, 2019
	SERP			Foreign Pension Plans			Total
Service cost	$	—		$	3,039		$	3,039
Interest cost	1,887			225			2,112
Expected return on plan assets	—			(303		)	(303		)
Net amortization of unrecognized prior service credit	—			(28		)	(28		)
Net amortization of actuarial losses	187			413			600
Net periodic defined benefit pension cost	$	2,074		$	3,346		$	5,420

Unrecognized prior service credit charged to comprehensive income (loss)	$	—		$	(28	)	$	(28	)
Unrecognized net actuarial loss charged to comprehensive income (loss)	187			413			600
Net actuarial gain (losses)	2,787			(1,054		)	1,733
Foreign currency and other adjustments	—			311			311
Related tax impact	(686		)	82			(604		)
Total periodic defined benefit pension cost and other charges to other comprehensive income (loss) and accumulated other comprehensive income (loss)	$	2,288		$	(276	)	$	2,012

The components of net periodic defined benefit pension cost to accumulated comprehensive income (loss) for fiscal 2018 related to the Company’s defined benefit plans are as follows (in thousands):



	Year Ended February 3, 2018
	SERP			Foreign Pension Plans			Total
Service cost	$	—		$	2,500		$	2,500
Interest cost	1,844			147			1,991
Expected return on plan assets	—			(244		)	(244		)
Net amortization of unrecognized prior service credit	—			(27		)	(27		)
Net amortization of actuarial losses	151			311			462
Net periodic defined benefit pension cost	$	1,995		$	2,687		$	4,682

Unrecognized prior service credit charged to comprehensive income (loss)	$	—		$	(27	)	$	(27	)
Unrecognized net actuarial loss charged to comprehensive income (loss)	151			311			462
Net actuarial losses	(1,092		)	(1,156		)	(2,248		)
Foreign currency and other adjustments	—			(269		)	(269		)
Related tax impact	360			75			435
Total periodic defined benefit pension cost and other charges to other comprehensive income (loss)	(581		)	(1,066		)	(1,647		)
Cumulative adjustment reclassified to retained earnings from adoption of new accounting guidance ¹	(1,435		)	—			(1,435		)
Total periodic defined benefit pension cost and other charges to accumulated other comprehensive income (loss)	$	(2,016	)	$	(1,066	)	$	(3,082	)

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During the fourth quarter of fiscal 2018, the Company early adopted authoritative guidance which addresses certain stranded income tax effects in accumulated other comprehensive loss resulting from the Tax Reform enacted in December 2017. As a result, the Company recorded a cumulative adjustment to increase retained earnings by $1.4 million with a corresponding reduction to accumulated other comprehensive loss related to the Company’s SERP.

The components of net periodic defined benefit pension cost to accumulated comprehensive income (loss) for fiscal 2017 related to the Company’s defined benefit plans are as follows (in thousands):



	Year Ended January 28, 2017
	SERP			Foreign Pension Plans			Total
Service cost	$	—		$	1,544		$	1,544
Interest cost	1,839			87			1,926
Expected return on plan assets	—			(185		)	(185		)
Net amortization of unrecognized prior service credit	—			(28		)	(28		)
Net amortization of actuarial losses	155			186			341
Net periodic defined benefit pension cost	$	1,994		$	1,604		$	3,598

Unrecognized prior service credit charged to comprehensive income (loss)	$	—		$	(28	)	$	(28	)
Unrecognized net actuarial loss charged to comprehensive income (loss)	155			186			341
Net actuarial gains (losses)	63			(1,248		)	(1,185		)
Foreign currency and other adjustments	—			(72		)	(72		)
Related tax impact	(84		)	105			21
Total periodic defined benefit pension cost and other charges to other comprehensive income (loss) and accumulated other comprehensive income (loss)	$	134		$	(1,057	)	$	(923	)

Schedule of accumulated other comprehensive income (loss), before tax, that have not yet been recognized in net periodic defined benefit pension cost

Included in accumulated other comprehensive income (loss), before tax, as of February 2, 2019 and February 3, 2018 are the following amounts that have not yet been recognized in net periodic defined benefit pension cost (in thousands):



	Feb 2, 2019								Feb 3, 2018
	SERP		Foreign Pension Plans			Total			SERP		Foreign Pension Plans			Total
Unrecognized prior service credit	$	—	$	(159	)	$	(159	)	$	—	$	(113	)	$	(113	)
Unrecognized net actuarial loss	6,480		5,293			11,773			9,454		4,889			14,343
Total included in accumulated other comprehensive loss	$	6,480	$	5,134		$	11,614		$	9,454	$	4,776		$	14,230

Schedule of the funded status of the Company's defined benefit plans and the amounts recognized in the Company's consolidated balance sheets

The following table summarizes the funded status of the Company’s defined benefit plans and the amounts recognized in the Company’s consolidated balance sheets (in thousands):



	Feb 2, 2019									Feb 3, 2018
	SERP			Foreign Pension Plans			Total			SERP			Foreign Pension Plans			Total
Projected benefit obligation	$	(52,162	)	$	(31,105	)	$	(83,267	)	$	(54,760	)	$	(26,409	)	$	(81,169	)
Plan assets at fair value ¹	—			25,358			25,358			—			21,437			21,437
Net liability ²	$	(52,162	)	$	(5,747	)	$	(57,909	)	$	(54,760	)	$	(4,972	)	$	(59,732	)

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¹	The SERP is a non-qualified pension plan and hence the insurance policies are not considered to be plan assets. Accordingly, the table above does not include the insurance policies with cash surrender values of $61.7 million and $64.5 million as of February 2, 2019 and February 3, 2018, respectively.


²	The net liability was included in accrued expenses and other long-term liabilities in the Company’s consolidated balance sheets depending on the expected timing of payments.

Schedule of reconciliation of the changes in the projected benefit obligation

A reconciliation of the changes in the projected benefit obligation for fiscal 2019 and fiscal 2018 is as follows (in thousands):



	Projected Benefit Obligation
	SERP			Foreign Pension Plans			Total
Balance at January 28, 2017	$	53,521		$	19,986		$	73,507
Service cost	—			2,500			2,500
Interest cost	1,844			147			1,991
Actuarial (gains) losses	1,092			1,156			2,248
Contributions by plan participants	—			2,315			2,315
Payments	(1,697		)	(1,373		)	(3,070		)
Foreign currency and other adjustments	—			1,678			1,678
Balance at February 3, 2018	$	54,760		$	26,409		$	81,169
Service cost	—			3,039			3,039
Interest cost	1,887			225			2,112
Actuarial (gains) losses	(2,787		)	1,054			(1,733		)
Contributions by plan participants	—			2,310			2,310
Payments	(1,698		)	(1,824		)	(3,522		)
Acquisition	—			1,539			1,539
Foreign currency and other adjustments	—			(1,647		)	(1,647		)
Balance at February 2, 2019	$	52,162		$	31,105		$	83,267

Schedule of reconciliation of the changes in plan assets for the Foreign Pension Plans

A reconciliation of the changes in plan assets for the Foreign Pension Plans for fiscal 2019 and fiscal 2018 is as follows (in thousands):



	Plan Assets
Balance at January 28, 2017	$	16,305
Actual return on plan assets	244
Contributions by employer	2,575
Contributions by plan participants	2,315
Payments	(1,373		)
Foreign currency and other adjustments	1,371
Balance at February 3, 2018	$	21,437
Actual return on plan assets	252
Contributions by employer	3,308
Contributions by plan participants	2,310
Payments	(1,824		)
Acquisition	1,186
Foreign currency and other adjustments	(1,311		)
Balance at February 2, 2019	$	25,358