What changed in this filing

/stocks — the workspaceLOADING

Item 8. Financial Statements and Supplementary Data

2024-03-27 compared with 2023-03-23 · 344 added, 315 removed, 1137 unchanged (37% of the section changed)

5 unchanged sentences

for the fiscal

years ended January 28, 2023, January 29, 2022 and January 30, 2021 ................................

Consolidated Balance Sheets at January 28, 2023 and January 29, 2022

years ended February 3, 2024, January 28, 2023 and January 29, 2022 ................................

Consolidated Balance Sheets at February 3, 2024 and January 28, 2023

.............................................

Consolidated Statements of Cash Flows for the fiscal years ended January 28, 2023,

Consolidated Statements of Cash Flows for the fiscal years ended February 3, 2024,

January 28, 2023

2 unchanged sentences

.........................

Consolidated Statements of Stockholders’ Equity for the fiscal years ended January 28,

Consolidated Statements of Stockholders’ Equity for the fiscal years ended February 3,

January 28, 2023 and January 29, 2022 ................................................................

2 unchanged sentences

Schedule II — Valuation

and Qualifying Accounts for the fiscal years ended January 28, 2023,

and Qualifying Accounts for the fiscal years ended February 3, 2024,

January 28, 2023 and January 29, 2022 ................................................................

1 unchanged sentence

Report of Independent Registered Public Accounting Firm

Board of Directors and Stockholders of The Cato Corporation

To the Board of Directors and Stockholders of The Cato Corporation

Opinions on the Financial Statements and Internal Control over Financial

We have audited the accompanying consolidated balance sheets of The Cato Corporation and its

subsidiaries (the “Company”) as of January 28, 2023 and

subsidiaries (the “Company”) as of February 3, 2024 and

January 28, 2023, and the related consolidated

statements of income (loss) and comprehensive income (loss), of stockholders’

statements of income (loss), of comprehensive income (loss), of stockholders’

equity and of cash flows

for each of the three years in the period ended January 28, 2023, including

for each of the three years in the period ended February 3, 2024, including

the related notes and financial

3 unchanged sentences

We also have audited the Company's internal control over financial reporting as of

January 28, 2023, based on criteria established in

Internal Control - Integrated Framework

(2013) issued

February 3, 2024, based on criteria established in Internal Control - Integrated

Framework (2013) issued

by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

1 unchanged sentence

present fairly, in all material

respects, the financial position of the Company as of January 28, 2023

respects, the financial position of the Company as of February

3, 2024 and January 28, 2023, and the

results of its operations and its cash flows for each of the three years

in the period ended January 28, 2023

in the period ended February 3, 2024

in conformity with accounting principles generally accepted in the United

2 unchanged sentences

over financial

reporting as of January 28, 2023, based on criteria established in

Internal Control - Integrated Framework

reporting as of February 3, 2024, based on criteria established in Internal

Control - Integrated Framework

(2013) issued by the COSO.

86 unchanged sentences

complex judgments.

communication of critical audit matters does not alter in any way our opinion on

the consolidated

statements, taken as a whole, and we are not, by communicating

the critical audit matter below, providing a

separate opinion on the critical audit matter or on the accounts or

disclosures to which it relates.

communication of critical audit matters does not alter in any way

our opinion on the consolidated

financial statements, taken as a whole, and we are not, by communicating

the critical audit matter below,

providing a separate opinion on the critical audit matter or on the accounts

or disclosures to which it

Impairment of Long-Lived Assets - Store Location Asset Groupings

4 unchanged sentences

consolidated operating lease right-of-use assets, net balance was $154.7

million as of January 28, 2023.

million as of February 3, 2024.

The Company invests in leaseholds, right-of-use assets and equipment,

2 unchanged sentences

The Company periodically

reviews its store locations and estimates the recoverability of its

long-lived assets, which primarily relate

reviews its store locations and estimates the recoverability

of its long-lived assets, which primarily relate

to fixtures and equipment, leasehold improvements, right-of-use assets net

16 unchanged sentences

the year ended

January 28, 2023.

February 3, 2024.

The principal considerations for our determination that performing

34 unchanged sentences

Fiscal Year Ended

January 28, 2023

February 3, 2024

January 28, 2023

13 unchanged sentences

Income (loss) before income taxes

Income tax expense (benefit)

Income tax expense

Net income (loss)

8 unchanged sentences

and 2021, respectively

Comprehensive (loss) income

Comprehensive income (loss)

See notes to consolidated financial statements.

1 unchanged sentence

CONSOLIDATED BALANCE SHEETS

January 28, 2023

February 3, 2024

January 28, 2023

4 unchanged sentences

Restricted cash

Restricted short-term investments

Accounts receivable, net of allowance for customer credit losses of $

January 28, 2023 and $

February 3, 2024 and $

at January 28, 2023

24 unchanged sentences

shares issued at

January 28, 2023 and January 29, 2022, respectively

February 3, 2024 and January 28, 2023, respectively

Convertible Class B common stock, $

2 unchanged sentences

shares issued at

January 28, 2023 and January 29, 2022, respectively

February 3, 2024 and January 28, 2023, respectively

Additional paid-in capital

8 unchanged sentences

Fiscal Year Ended

January 28, 2023

February 3, 2024

January 28, 2023

4 unchanged sentences

Adjustments to reconcile net income (loss) to net cash provided

by (used in) operating activities:

by operating activities:

Provision for customer credit losses

12 unchanged sentences

Accounts payable, accrued expenses and other liabilities

Net cash provided by (used in) operating activities

Net cash provided by operating activities

Investing Activities:

8 unchanged sentences

Repurchase of common stock

Proceeds from line of credit

Payments to line of credit

Proceeds from employee stock purchase plan

4 unchanged sentences

Non-cash activity:

Accrued plant and equipment

Accrued property and equipment expenditures

See notes to consolidated financial statements.

5 unchanged sentences

(Dollars in thousands)

Balance — February 1, 2020

Balance — January 30, 2021

Comprehensive income:

Net income (loss)

Unrealized gains (loss) on available-for-sale securities, net of

6 unchanged sentences

Comprehensive income:

Net income (loss)

Unrealized gains (loss) on available-for-sale securities, net of

6 unchanged sentences

Comprehensive income:

Net income (loss)

Unrealized gains (loss) on available-for-sale securities, net of

deferred income tax benefit of $

deferred income tax expense of $

Dividends paid ($

2 unchanged sentences

Repurchase and retirement of treasury shares

Balance — January 28, 2023

Balance — February 3, 2024

See notes to consolidated financial statements.

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATE

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Summary of Significant Accounting Policies:

13 unchanged sentences

and “Cache,” including e-commerce websites.

Company’s fiscal year ends

on the Saturday nearest January 31 of the subsequent year.

Fiscal years 2022,

2021 and 2020 are

Company’s fiscal year ends on the Saturday nearest January 31 of the subsequent year.

Fiscal year 2023 is

a 53-week year and 2022 and 2021 are

generally accepted

17 unchanged sentences

gains and losses are included in Interest and other income.

Restricted Cash and Restricted Short-term

Restricted Cash:

The Company had $

million and $

2022, respectively,

collateral for

administration

Restricted cash

and Restricted

short-term investments

Consolidated Balance

million in escrow at February 3, 2024 and

January 28, 2023, respectively, as security and collateral for administration of the Company’s

Consolidated Balance Sheets.

Supplemental Cash Flow

52 unchanged sentences

can be difficult

were incurred in fiscal 2022, fiscal 2021 and fiscal 2020, respectively.

predict and may be

subject to change.

impairment charges of $

incurred in fiscal 2023, fiscal 2022 and fiscal 2021, respectively.

Other Assets:

4 unchanged sentences

Balance as of

January 28, 2023

February 3, 2024

January 28, 2023

1 unchanged sentence

Deferred Compensation Investments

Land Held for Investment

Miscellaneous Investments

Asset Held for Sale

Other Deposits

Land Held for Investment

allowances and rent escalations.

23 unchanged sentences

from historical amounts.

A provision is made

for estimated write-offs associated with sales made with the

proprietary credit

estimated rewards

purchases with the

Company’s propriety

Amounts related to

shipping and handling

billed to customers

transaction are classified

as Other revenue

and the costs

related to shipping

product to customers (billed and accrued) are classified as Cost of goods

A provision is made for estimated write-offs associated with sales made with

Company’s proprietary credit card.

In addition, a provision is made for estimated rewards cards issued

handling billed

are classified

costs related to shipping product to customers (billed and accrued) are classified

as Cost of goods sold.

In accordance with ASU 2014-09,

17 unchanged sentences

million for the twelve months

ended January 28, 2023 and January

ended February 3, 2024 and January

28, 2023, respectively.

3 unchanged sentences

Balance as of

January 28, 2023

February 3, 2024

January 28, 2023

19 unchanged sentences

expense was approximately $

for the fiscal years ended January 28,

for the fiscal years ended February 3,

2024, January 28, 2023 and January 29, 2022, respectively.

Stock Repurchase Program:

For the fiscal year ended January

28, 2023, the Company had

For the fiscal year ended

February 3, 2024, the Company had

authorizations.

earnings, net

Company repurchased

authorization

February 23, 2023 Board of Directors meeting.

repurchase program.

Share repurchases are recorded in Retained

earnings, net of par value.

accompanying Consolidated Statements of

20 unchanged sentences

applicable to both Class A and Class B shares.

earnings allocated

to non-vested

equity awards

potential dilution that could

occur from common shares issuable

through stock options and

Stock Purchase Plan.

The following

table reflects

EPS calculations

ended January

reflects the potential dilution that could occur from common shares issuable through stock options and the

Employee Stock Purchase Plan.

The following table reflects

the basic and

diluted EPS calculations for

the fiscal years ended

3, 2024, January 28, 2023 and January 29, 2022:

Fiscal Year Ended

January 28, 2023

February 3, 2024

January 28, 2023

43 unchanged sentences

for income taxes.

Company assesses

Based on this

assessment, the Company then

determines if a valuation

allowance should be

Company concludes that

more likely than

the Company will

realize its tax deferred assets, a valuation allowance is recorded for

the proportion of the deferred tax asset

it determines may not be realized.

construction,

18 unchanged sentences

financial instruments, such

approximate their fair values due to their short terms to maturity and/or

their variable interest rates.

approximate their

due to their short terms to maturity and/or their variable interest rates.

Compensation:

8 unchanged sentences

estimated forfeitures.

Board issued Accounting Standards Update 2021-10,

Government Assistance (Topic

Disclosures by

government assistance,

including the

disclosure of

assistance an

entity receives,

accounting for

government assistance

the assistance

Company adopted this standard on a prospective basis on January 30, 2022.

consolidated financial statements in the first quarter of fiscal 2024.

Pronouncements:

pronouncements and believe none will have a material impact on

the Company’s financial statements.

Standards Board (“FASB”)

issued Accounting Standards

Update (“ASU”) 2023-07,

“Segment Reporting

Improvements to Reportable Segment Disclosures”, which modifies disclosure requirements

THE CATO CORPORATION

1 unchanged sentence

— (Continued)

adding significant

segment expenses, other

segment items, title

also requires

disclosure about

interim periods.

This guidance

years beginning

after December

periods within fiscal

years beginning after

Early adoption is

retrospectively to

guidance on its consolidated financial statements and related disclosures.

Disclosures”,

disaggregated

reconciliation

information on

This guidance

years beginning

after December

15, 2024 for all public

business entities, with early adoption and retrospective application

of evaluating

the potential

on its consolidated financial statements and related disclosures.

Interest and Other Income:

1 unchanged sentence

Fiscal Year Ended

January 28, 2023

February 3, 2024

January 28, 2023

12 unchanged sentences

Ida and Laura

investment of $

in 2021 and 2020.

Short-Term Investments:

6 unchanged sentences

comprehensive

January 28, 2023 and January 29, 2022 (in thousands):

January 28, 2023

February 3, 2024 and January 28, 2023 (in thousands):

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

— (Continued)

February 3, 2024

January 28, 2023

15 unchanged sentences

(in thousands):

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

— (Continued)

January 28, 2023

February 3, 2024

January 28, 2023

8 unchanged sentences

assets that are measured

at fair value as of January 28, 2023 and January 29, 2022 (in thousands):

January 28, 2023

at fair value as of February 3, 2024 and January 28, 2023 (in thousands):

February 3, 2024

State/Municipal Bonds

4 unchanged sentences

Corporate Equities

Commercial Paper

Deferred Compensation

10 unchanged sentences

Total Liabilities

investment portfolio

primarily invested

taxable governmental

debt securities

managed accounts

with underlying

state, municipal

and corporate bonds

and asset-backed securities

have contractual

maturities which

Certificates of

These securities are

classified as

available-for-sale

investments and Other

assets on the

accompanying Consolidated Balance

are carried at

comprehensive

The asset-backed securities are bonds comprised of auto loans and bank credit cards that carry AAA

The auto loan asset-backed

securities are backed by static pools of

auto loans that were originated and

governmental debt securities held in managed accounts

with underlying ratings of A or

better at February

municipal and corporate bonds and

asset-backed securities have contractual maturities

to 2.0 years.

securities are classified as

available-for-sale and are recorded

Accumulated other comprehensive income.

The asset-backed securities are bonds

comprised of auto loans

loan asset-backed securities

THE CATO CORPORATION

1 unchanged sentence

— (Continued)

securities are backed by revolving pools of credit

card receivables generated by account holders of cards

American Express, Citibank, JPMorgan Chase, Capital One,

and Discover.

from American

Capital One, and Discover.

Additionally,

recorded within Other assets in the

respectively,

Consolidated Balance Sheets.

At January 29, 2022, the Company had

investment securities include corporate and municipal bonds for which quoted prices may

2 unchanged sentences

Their fair value is principally based on market values determined

by management with the assistance of a third-party pricing service.

Since quoted prices in active markets for

identical assets are

11 unchanged sentences

money market funds that are observable and actively traded.

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

— (Continued)

The following tables summarize

2 unchanged sentences

financial assets and liabilities

measured using Level 3 inputs as of

January 28, 2023 and

measured using Level 3 inputs for the

years ended February 3, 2024 and

January 28, 2023

(in thousands):

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

— (Continued)

Measurements Using

6 unchanged sentences

changes in net assets)

Ending Balance at January 28, 2023

Ending Balance at February 3, 2024

Measurements Using

5 unchanged sentences

changes in net assets)

Ending Balance at January 28, 2023

Ending Balance at February 3, 2024

Measurements Using

20 unchanged sentences

Accounts receivable consist of the following (in thousands):

January 28, 2023

February 3, 2024

January 28, 2023

9 unchanged sentences

for the fiscal

years ended January 28, 2023, January 29, 2022

years ended February 3, 2024, January 28, 2023

and January 29,

4 unchanged sentences

Consolidated Statements of Income (Loss) and Comprehensive Income

Miscellaneous

Company’s corporate jet, which had sustained damage at the end of the second quarter.

Property and Equipment:

Property and equipment consist of the following (in thousands):

January 28, 2023

February 3, 2024

January 28, 2023

14 unchanged sentences

Accrued expenses consist of the following (in thousands):

January 28, 2023

February 3, 2024

January 28, 2023

2 unchanged sentences

Accrued self-insurance

Prior period balances in the table above have been reclassified

to conform to current

period presentation.

THE CATO CORPORATION

2 unchanged sentences

Financing Arrangements:

unsecured revolving

credit agreement,

which provided

borrowings of

any revocable

credit related

credit agreement

contains various

was in compliance as of January 28, 2023.

borrowings outstanding under this credit facility as

of January 28,

2023 or January

At January 28,

2023, the weighted

average interest rate

credit facility was

borrowings outstanding at the end of

outstanding revocable

relating to purchase commitments.

revolving credit

agreement, which

Company further

minimum EBITDAR

borrowings outstanding,

outstanding letters

borrowing availability,

credit facility

average interest

credit facility

The Company had

outstanding revocable letters of credit relating to purchase commitments at February

3, 2024 or at January 28, 2023.

Stockholders’ Equity:

35 unchanged sentences

contribute up to 75 % of their annual compensation up to the maximum elective deferral, designated by

administrative

Further Company contributions

are at the discretion

of the Board of

The Company’s

the Internal Revenue Service.

contribution to

administrative expenses.

Further Company

contributions

approximately $

discretion of

contributions

2022 were approximately $

, respectively.

1 unchanged sentence

covers substantially all associates who meet minimum age and service requirements.

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

— (Continued)

Company’s discretionary

2 unchanged sentences

Compensation Committee of the

contribution to

ended January

respectively.

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

— (Continued)

Board of Directors and can be

made in Company Class A Common stock or

Due to a net operating

contributions

January 28, 2023 and January 29, 2022, respectively.

The Company is primarily self-insured for healthcare.

14 unchanged sentences

additional expense or

a reduction to expense which

could be material to the

Company’s reported

financial condition and results

of operations.

The Company funds healthcare contributions to a third-party

period recorded.

The Company funds healthcare contributions

to a third-party provider.

The Company determines whether an

10 unchanged sentences

within one year

Company considers

establish its

5 unchanged sentences

Fiscal Year Ended

January 28, 2023

February 3, 2024

January 28, 2023

4 unchanged sentences

) million for the twelve months

ended January 28, 2023 and January 29, 2022, respectively.

ended February 3, 2024 and January 28, 2023, respectively.

(b) Primarily relates to monthly percentage rent for stores not presented on the balance sheet.

6 unchanged sentences

Fiscal Year Ended

January 28, 2023

February 3, 2024

January 28, 2023

9 unchanged sentences

operating leases

January 28, 2023

February 3, 2024

January 28, 2023

26 unchanged sentences

Comprehensive

Income (Loss) for the years ended January 28, 2023, January 29, 2022

Income (Loss) for the years ended February 3, 2024, January 28, 2023

and January 29, 2022, respectively.

4 unchanged sentences

ending amount

unrecognized tax benefits

unrecognized tax

(in thousands):

2 unchanged sentences

— (Continued)

January 28, 2023

February 3, 2024

January 28, 2023

2 unchanged sentences

Additions for tax positions of the current year

Additions for tax positions prior years

Additions for tax positions of prior years

Reduction for tax positions of prior years for:

Settlements during the period

Lapses of applicable statutes of limitations

2 unchanged sentences

the following (in thousands):

January 28, 2023

February 3, 2024

January 28, 2023

2 unchanged sentences

Deferred income taxes:

Total income tax expense (benefit)

Total income tax expense

THE CATO CORPORATION

6 unchanged sentences

(in thousands):

January 28, 2023

February 3, 2024

January 28, 2023

5 unchanged sentences

Equity compensation expense

Federal tax credits

Net operating losses

14 unchanged sentences

The changes in the valuation allowance are presented below:

January 28, 2023

February 3, 2024

January 28, 2023

3 unchanged sentences

Allowance Ending Balance

As of January 28, 2023, the Company had $

million of state tax credits to offset future state income tax

expense, which are set to expire

by fiscal 2023.

Based on the available evidence, the

Company has recorded

a valuation allowance of $

The Company had $

million of state tax credits to offset future state income tax expense, which expired

during fiscal 2023.

The Company had previously

recorded a valuation allowance of $

As of February

Company had $

million of net

deferred tax assets

attributable to state

carryforwards

Company assessed the likelihood that deferred tax assets related to state net operating loss carryforwards will

this assessment, the

Company concluded

able to realize

million of the

Company assessed the likelihood that deferred tax

assets related to state net operating

loss carryforwards and

other deferred tax

assets affecting state

income tax will

on this assessment,

concluded that it is more likely than not the Company will not be able to

million and $

net operating losses

deferred assets, respectively,

and accordingly, has

recorded a valuation

allowance for the same amount.

The net change

in the valuation

for the years

ended January 28, 2023 and January 29,

due to state net operating losses and

state tax credits.

undistributed

indefinitely.

carryforwards,

credit carryforwards

other deferred

THE CATO CORPORATION

1 unchanged sentence

— (Continued)

deferred tax liabilities.

The Company assessed the likelihood that deferred tax

assets related to net operating

carryforwards,

carryforwards

liabilities will be

Based on this

assessment, the Company

concluded that it

is more likely

carryforwards,

credit carryforwards and $

million of remaining deferred tax assets

net of deferred tax liabilities.

The net change in the

valuation allowance of $

million for the year ended February

3, 2024 is due to

recording a valuation allowance of $

million against net deferred tax assets

attributable to U.S.

operating loss

carryforwards, other

credit carryforwards

other deferred

allowance for the year ended January 28, 2023

is due to state net operating losses and

state tax credits.

undistributed

indefinitely.

distributions

2 unchanged sentences

approximately $

million of earnings from non-U.S.

million of cumulative earnings from non-U.S.

subsidiaries.

5 unchanged sentences

statutory rate is as follows:

January 28, 2023

February 3, 2024

January 28, 2023

15 unchanged sentences

Effective income tax rate

ended February 3, 2024 and the

federal income tax rate is

the valuation allowance (discussed above)

carryforwards, other credit carryforwards and all other deferred tax assets

net of deferred tax liabilities.

Reportable Segment Information:

including Cato,

Fashion, Verso

operating segments, including e-commerce, based on

the aggregation criteria outlined in ASC

280-10, which

more operating segments may be aggregated into a single reportable segment if aggregation is consistent with

characteristics, products, production processes, clients and

methods of distribution.

states that two or more operating segments may be aggregated into a single reportable segment if aggregation

is consistent with the objective

and basic principles of ASC 280-10,

which require the segments have similar

economic characteristics, products, production processes, customers

and methods of distribution.

characteristics

Merchandise for

the Company’s

retail operating

distributed to

retail stores

similar manner

authorizations,

processing, and collection efforts are performed by

a separate subsidiary of the Company.

financial and

competitive risks.

operating segment

production processes.

Merchandise for the Company’s retail operating segments is distributed to retail stores

in a similar manner through

the Company’s single distribution center and is

subsequently sold to customers in

The Company offers its own credit

card to its customers and

all credit authorizations, payment processing

and collection efforts are performed by a

wholly-owned subsidiary of the Company.

THE CATO CORPORATION

7 unchanged sentences

Interest and other income

Income (loss) before taxes

Income before taxes

Capital expenditures

Interest and other income

Income (loss) before taxes

Income before taxes

Capital expenditures

Total assets as of January 28,

Total assets as of February 3,

Total assets as of January 28,

10 unchanged sentences

Selling, general and administrative expenses (in thousands):

January 28, 2023

February 3, 2024

January 28, 2023

3 unchanged sentences

Stock Based Compensation:

2023, the Company

long-term compensation plans

pursuant to which

Compensation Plan

equity-based awards,

including restricted

and stock options for grant, to officers, directors and key employees.

Effective May 24, 2018,

shares for grant

directors and key employees.

THE CATO CORPORATION

1 unchanged sentence

— (Continued)

were no longer available under

the 2013 Incentive Compensation Plan.

The following table presents the number of options and shares of restricted

stock initially authorized

and available for grant under each of the plans as of January 28, 2023:

and available for grant under this plan as of February 3, 2024:

Options and/or restricted stock initially authorized

1 unchanged sentence

January 28, 2023

February 3, 2024

In accordance with

fair value of

current restricted stock

awards is estimated

date of grant based on the market price of the Company’s stock and is amortized to compensation expense

on a straight-line

restricted stock awards

is estimated on

to compensation

straight-line basis

vesting period.

As of January

28, 2023, there

total unrecognized

compensation expense

unvested restricted

stock awards,

to be recognized over

a remaining weighted-average vesting period of

The total grant date fair

2023, January

unrecognized compensation

expense related

restricted stock

awards, which

recognized over a remaining weighted-average vesting period of

The total grant date fair value

, respectively.

compensation expense

resulting from

administrative

(Loss) and Comprehensive Income (Loss).

increase in total compensation expense for fiscal 2023 is

due to a true-up in fiscal 2022 that

resulted from

classified as a

component of Selling, general

and administrative expenses in

the Consolidated Statements

of Income (Loss) and Comprehensive Income (Loss).

The following summary shows

2 unchanged sentences

restricted stock outstanding

the years ended January 28, 2023,

the years ended February 3, 2024,

January 28, 2023 and January 29, 2022:

1 unchanged sentence

Grant Date Fair

Restricted stock awards at February 1, 2020

Forfeited or expired

Restricted stock awards at January 30, 2021

3 unchanged sentences

Restricted stock awards at January 28, 2023

Forfeited or expired

Restricted stock awards at February 3, 2024

% discount through

3 unchanged sentences

average discount of

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

— (Continued)

Employee Stock Purchase Plan.

3 unchanged sentences

approximately

THE CATO CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

— (Continued)

2023, 2022 and 2021,

10 unchanged sentences

litigation with present or former employees.

Although such litigation is routine

and incidental to the

conduct of our business,

as with any business

Although such

litigation is

incidental to

a significant

employees and

significant merchandise

litigation could

monetary awards.

information currently

available, management

pending litigation

material adverse effect

on the Company’s

consolidated financial statements.

given the inherent

uncertainties

involved in such matters, an adverse

outcome in one or more such

matters could materially and adversely

Company’s financial

condition, results of

operations and cash

particular reporting

materially and adversely affect the Company’s

financial condition, results of operations and cash flows in

probable and reasonably estimable.

Accumulated Other Comprehensive Income:

reclassification

comprehensive income (in thousands) as of

January 28, 2023:

comprehensive income (in thousands) for the

year ended February 3, 2024:

Changes in Accumulated Other

9 unchanged sentences

Net current-period other comprehensive income

Ending Balance at January 28, 2023

Ending Balance at February 3, 2024

(a) All amounts are net-of-tax.

Amounts in parentheses indicate a debit/reduction to

other comprehensive

income (“OCI”).

accumulated other

comprehensive income.

(b) Includes $

2 unchanged sentences

tax impact of this reclassification was $

in parentheses indicate a debit/reduction to OCI.

in parentheses indicate a debit/reduction to accumulated other comprehensive income.

THE CATO CORPORATION

3 unchanged sentences

out of Accumulated other

comprehensive income (in thousands) as of January 29, 2022:

comprehensive income (in thousands) for the year ended January 28, 2023:

Changes in Accumulated Other

12 unchanged sentences

Amounts in parentheses indicate a debit/reduction to

accumulated other

comprehensive income.

(b) Includes $

2 unchanged sentences

tax impact of this reclassification was $

parentheses indicate a debit/reduction to OCI.

parentheses indicate a debit/reduction to accumulated other comprehensive income.

Changes in and Disagreements with Accountants on Accounting and

1 unchanged sentence

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.

What changed 10-K

Item 8. Financial Statements and Supplementary Data