Annual report pursuant to Section 13 and 15(d)

Fair value measurements

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Fair value measurements
 12 Months Ended
Feb. 03, 2024
Fair value measurements  
Fair value measurements

13.   Fair value measurements

The carrying value of cash and cash equivalents, accounts receivable, and accounts payable approximates their estimated fair values due to the short maturities of these instruments.

Fair value is measured using inputs from the three levels of the fair value hierarchy, which are described as follows:

● Level 1 – observable inputs such as quoted prices for identical instruments in active markets.
● Level 2 – inputs other than quoted prices in active markets that are observable either directly or indirectly through corroboration with observable market data.
● Level 3 – unobservable inputs in which there is little or no market data, which would require the Company to develop its own assumptions.

As of February 3, 2024 and January 28, 2023, there were liabilities related to the non-qualified deferred compensation plan included in other long-term liabilities on the consolidated balance sheets of $42,653 and $37,501, respectively. The liabilities are categorized as Level 2 as they are based on third-party reported values, which are based primarily on quoted market prices of underlying assets of the funds within the plan.