Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Cover [Abstract] | |
Document Type | DEF 14A |
Entity Registrant Name | The CATO Corporation |
Entity Central Index Key | 0000018255 |
Amendment Flag | false |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we are providing the following disclosure regarding executive “Compensation Actually Paid” (“CAP”), as calculated under applicable SEC rules, for our principal executive officer (“PEO”) and our other named executive officers (“non-PEO NEOs”) and certain financial performance measures for fiscal years 2022, 2021 and 2020. In determining the CAP to our PEO and the CAP to our non-PEO NEOs, we are required to make various adjustments to the total compensation amounts that have been reported in the Summary Compensation Table (“SCT”), as the SEC’s valuation methods for this section differ from those required in the SCT. Information regarding the methodology for calculating CAP to our PEO and the CAP to our non-PEO NEOs, including details regarding the amounts that were deducted from, and added to, the SCT totals to arrive at the values presented for CAP, are provided in the footnotes to the table. Note that for non-PEO NEOs, compensation is reported as an average. As identified in the footnotes to the table, the determination of CAP includes adjustments to reflect, among other things, period-to-period changes in the value of unvested equity awards. Accordingly, such amounts do not reflect the value of compensation actually delivered to, or received by the PEO or the Non-PEO NEOs, in the period reported in the table, as the amount of actual compensation received by any executive officers depends on whether the executive officer satisfies the conditions for vesting of any such award and the value of our common stock on the date such awards vest. The Compensation Discussion & Analysis (“CD&A”) describes the compensation setting process for our named executive officers, which is done independently from the disclosure requirements shown in this section. Accordingly, the Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown. Pay Versus Performance Table Value of Initial Fixed $100 Investment Based on: Fiscal Year Summary Compensation Average Average Total Peer Group Net Income Pre-tax, 2022 3,190,140 2,408,943 495,217 418,992 110.71 156.59 29 3,251 2021 5,466,540 6,360,497 714,357 820,325 172.94 143.36 36,844 80,312 2020 2,814,652 2,338,868 539,985 482,439 115.74 129.51 (47,483 ) (72,556 ) | ||
Company Selected Measure Name | Pre-tax, Pre-Bonus Income (Loss) | ||
Named Executive Officers, Footnote [Text Block] | (1) During 2022, our PEO was John P. D. Cato During 2021, our PEO was John P. D. Cato During 2020, our PEO was John P. D. Cato | ||
Peer Group Issuers, Footnote [Text Block] | Total Shareholder Return (“TSR”) is determined based on the value of an initial fixed investment of $100. The TSR peer group utilizes the Dow Jones US, Apparel Index, which we use in the stock performance graph required by Item 201(e) of Regulation S-K included in the Company’s Form 10-K for the years reflected in the table above. | ||
PEO Total Compensation Amount | $ 3,190,140 | $ 5,466,540 | $ 2,814,652 |
PEO Actually Paid Compensation Amount | $ 2,408,943 | 6,360,497 | 2,338,868 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) The following table sets forth the adjustments made to arrive at CAP to our PEO during each of the years presented: Adjustments to determine Compensation “Actually Paid” for PEO 2022 2021 2020 Deduction for Amounts Reported under the “Stock Awards” Column in the SCT (1,508,226 ) (1,883,682 ) (1,167,561 ) Increase for Fair Value of Awards Granted during year that Remain Unvested as of Year end 1,112,481 2,256,785 1,194,885 Increase/Deduction for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to year that were Outstanding and Unvested as of Year-end (662,872 ) 667,952 (490,775 ) Increase/Deduction for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to year that Vested during year 277,420 (147,098 ) (12,333 ) Total Adjustments (781,197 ) 893,957 (475,784 ) | ||
Non-PEO NEO Average Total Compensation Amount | $ 495,217 | 714,357 | 539,985 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 418,992 | 820,325 | 482,439 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (3) The following table sets forth the adjustments made to arrive at CAP to our Non-PEO NEOs during each of the years presented: Adjustments to determine Compensation “Actually Paid” for Non-PEO NEOs 2022 2021 2020 Deduction for Amounts Reported under the “Stock Awards” Column in the SCT (172,063 ) (238,063 ) (141,230 ) Increase for Fair Value of Awards Granted during year that Remain Unvested as of Year end 126,915 285,217 144,535 Increase/Deduction for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to year that were Outstanding and Unvested as of Year-end (75,622 ) 84,417 (59,365 ) Increase/Deduction for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to year that Vested during year 44,545 (25,603 ) (1,485 ) Total Adjustments (76,225 ) 105,968 (57,545 ) | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Relationship Between CAP and TSR of the Company and Peer Group | ||
Compensation Actually Paid vs. Net Income [Text Block] | Relationship Between CAP and Net Income | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Relationship between CAP and Pre-tax Pre-bonus Income (Loss) | ||
Tabular List [Table Text Block] | The following financial performance measures are the only financial performance measures the Company used to link CAP (as calculated in accordance with SEC rules) to Company performance. ● Pre-Tax, Pre-bonus Income (Loss) ● Net Income Pre-tax, Pre-bonus Income (Loss) is discussed in detail in “2022 Executive Compensation—Compensation Discussion and Analysis” in this proxy statement, including the use of this measure in annual cash incentive compensation awards. | ||
Total Shareholder Return Amount | $ 110.71 | 172.94 | 115.74 |
Peer Group Total Shareholder Return Amount | 156.59 | 143.36 | 129.51 |
Net Income (Loss) | $ 29,000 | $ 36,844,000 | $ (47,483,000) |
Company Selected Measure Amount | 3,251,000 | 80,312,000 | (72,556,000) |
PEO Name | John P. D. Cato | John P. D. Cato | John P. D. Cato |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Pre-Tax, Pre-bonus Income (Loss) | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Income | ||
PEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (781,197) | $ 893,957 | $ (475,784) |
PEO [Member] | Deduction For Amounts Stock Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,508,226) | (1,883,682) | (1,167,561) |
PEO [Member] | Increase For Fair Value Of Awards Granted Remain Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,112,481 | 2,256,785 | 1,194,885 |
PEO [Member] | Increase Or Deduction For Change In Fair Value Awards Granted Outstanding And Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (662,872) | 667,952 | (490,775) |
PEO [Member] | Increase Or Deduction For Change In Fair Value Awards Granted Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 277,420 | (147,098) | (12,333) |
Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (76,225) | 105,968 | (57,545) |
Non-PEO NEO [Member] | Deduction For Amounts Stock Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (172,063) | (238,063) | (141,230) |
Non-PEO NEO [Member] | Increase For Fair Value Of Awards Granted Remain Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 126,915 | 285,217 | 144,535 |
Non-PEO NEO [Member] | Increase Or Deduction For Change In Fair Value Awards Granted Outstanding And Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (75,622) | 84,417 | (59,365) |
Non-PEO NEO [Member] | Increase Or Deduction For Change In Fair Value Awards Granted Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 44,545 | $ (25,603) | $ (1,485) |