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The Company maintains its cash equivalents in financial instruments, primarily time deposits and money market funds, with original maturities of three months or less.
−Removed: Recently, the Company invested in short-term marketable securities with maturities less than twelve months.
+Added: The Company is also invested in short-term marketable securities with maturities less than twelve months.
Due to the short-term nature of these instruments, changes in interest rates are not expected to materially affect the fair value of these financial instruments.
−Removed: Refer to Note 5, “ INVESTMENTS ,” of the Notes to Consolidated Financial Statements included in “ ITEM 8.
+Added: Refer to Note 2 “ SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ,” and Note 6, “ INVESTMENTS ,” of the Notes to Consolidated Financial Statements included in “ ITEM 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ” of this Annual Report on Form 10-K for a discussion of the Company’s Rabbi Trust assets.
INTEREST RATE RISK
−Removed: Prior to July 2, 2020, the Company’s exposure to market risk due to changes in interest rates related primarily to the increase or decrease in the amount of interest expense from fluctuations in the LIBO rate, or an alternate base rate associated with the Company’s former term loan facility (the “Term Loan Facility”) and the ABL Facility.
−Removed: On July 2, 2020, the Company issued the Senior Secured Notes and repaid all outstanding borrowings under the Term Loan Facility and the ABL Facility, thereby eliminating any then-existing cash flow market risk due to changes in interest rates.
On July 15, 2024, the Company redeemed all of its outstanding 8.75% Senior Secured Notes, thereby eliminating that interest rate risk.
−Removed: This analysis for Fiscal 2025 may differ from actual results due to potential changes in gross borrowings outstanding under the ABL Facility and potential changes in interest rate terms and limitations described within the ABL Credit Agreement.
−Removed: In July 2017, the Financial Conduct Authority (the authority that regulates LIBO rate) announced it intended to stop compelling banks to submit rates for the calculation of LIBO rate after 2021.
−Removed: Certain publications of the LIBO rate were phased out at the end of 2021 and all LIBO rate publications ceased after June 30, 2023.
−Removed: On March 15, 2023, the Company entered into the First Amendment to the Amended and Restated Credit Agreement to eliminate LIBO rate-based loans and to use the current market definitions with respect to the Secured Overnight Financing Rate, as well as to make other conforming changes.
+Added: This analysis for Fiscal 2026 may differ from the actual results due to potential changes in gross borrowings outstanding under the ABL Facility and potential changes in interest rate terms and limitations described within the ABL Credit Agreement.
FOREIGN CURRENCY EXCHANGE RATE RISK
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Refer to Note 15, “ DERIVATIVE INSTRUMENTS ,” included in “ ITEM 8.
−Removed: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ” of this Annual Report on Form 10-K for the fair value of outstanding foreign currency exchange forward contracts included in other current assets and accrued expenses as of February 1, 2025 and February 3, 2024.
+Added: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ” of this Annual Report on Form 10-K for the fair value of outstanding foreign currency exchange forward contracts included in other current assets and accrued expenses as of January 31, 2026 and February 1, 2025.
For a detailed discussion of material risk factors that have the potential to cause our actual results to differ materially from our expectations, refer to “ ITEM 1A.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.