Fair Value Measurements (Tables)

9 Months Ended

Nov. 02, 2024

Fair Values of Financial Assets and Hierarchy of Level of Inputs

The fair values of the Company’s financial assets and the hierarchy of the level of inputs as of November 2, 2024, February 3, 2024 and October 28, 2023 are summarized below:


	(in thousands)
	Fair Value Measurements at
	November 2,		February 3,		October 28,
	2024		2024		2023
Level 1
Cash equivalents	$	481,491	$	657,292	$	269,241

Fair Values of Financial Liabilities

The fair values of the Company’s financial liabilities are summarized below:


	(in thousands)
	November 2, 2024				February 3, 2024				October 28, 2023
	Principal Amount		Fair Value		Principal Amount		Fair Value		Principal Amount		Fair Value
Term Loan Facility	$	1,250,000	$	1,249,219	$	937,379	$	934,450	$	939,783	$	935,671
2025 Convertible Notes		156,155		182,166		156,155		169,384		156,155		150,519
2027 Convertible Notes		297,069		395,611		297,069		342,384		297,069		262,202
ABL Line of Credit (a)		—		—		—		—		—		—
Total debt (b)	$	1,703,224	$	1,826,996	$	1,390,603	$	1,446,218	$	1,393,007	$	1,348,392

(a)

To the extent the Company has any outstanding borrowings under the ABL Line of Credit, the fair value would approximate its reported value, because the interest rate is variable and reflects current market rates, due to its short term nature.

(b)

The table above excludes finance lease obligations, debt discount and deferred debt costs.