SHOE CARNIVAL INC Fair Value Disclosure
Note 4 – Fair Value of Financial Instruments
The following table presents financial instruments that are measured at fair value on a recurring basis at January 31, 2026 and February 1, 2025:
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|
Fair Value Measurements |
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|||||||||||||
(In thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
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||||
As of January 31, 2026: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash equivalents – money market mutual funds |
|
$ |
109,149 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
109,149 |
|
Marketable securities - mutual funds that fund |
|
|
13,636 |
|
|
|
0 |
|
|
|
0 |
|
|
|
13,636 |
|
Total |
|
$ |
122,785 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
122,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
As of February 1, 2025: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash equivalents – money market mutual funds |
|
$ |
95,963 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
95,963 |
|
Marketable securities - mutual funds that fund |
|
|
14,432 |
|
|
|
0 |
|
|
|
0 |
|
|
|
14,432 |
|
Total |
|
$ |
110,395 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
110,395 |
|
See Note 13 – “Employee Benefit Plans” for additional discussion and additional disclosures related to our Marketable Securities that fund deferred compensation. The fair values of Cash and Cash Equivalents, Accounts Receivable, Accounts Payable, Accrued Expenses and Other Current Liabilities approximate their carrying values because of their short-term nature.
The fair value of the Shoe Station and Rogan’s trade names were estimated when tested for impairment using a relief-from-royalty method. The estimates and assumptions used in the determination of the fair value of each brand included their respective projected revenue growth, long-term growth rate, the royalty rate and discount rate. No impairments were recognized.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 26, 2026 | Showing above |
| 2025 | Mar 21, 2025 | |
| 2024 | Mar 22, 2024 | |
| 2023 | Mar 24, 2023 | |
| 2022 | Mar 25, 2022 | |
| 2021 | Mar 26, 2021 | |
| 2020 | Mar 31, 2020 | |
| 2019 | Apr 2, 2019 | |
| 2018 | Apr 2, 2018 | |
| 2017 | Mar 29, 2017 | |
| 2016 | Apr 4, 2016 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.