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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

May 03, 2015

Foreign Currency Forward Contracts Outstanding

As of May 3, 2015, and May 4, 2014, we had foreign currency forward contracts outstanding (in U.S. dollars) as follows:

In thousands		May 3, 2015				May 4, 2014
Contracts to sell Canadian dollars and buy U.S. dollars
Contracts designated as cash flow hedges		$	20,400			$	23,000
Contracts not designated as cash flow hedges 1		$	0			$	1,500
Contracts to sell Australian dollars and buy U.S. dollars
Contracts not designated as cash flow hedges		$	26,000			$	10,000

¹  These contracts are no longer designated as cash flow hedges as the related inventory purchases have occurred.

Effect of Derivative Instruments in Consolidated Financial Statements

The effect of derivative instruments in our Condensed Consolidated Financial Statements, pre-tax, was as follows:

In thousands		Thirteen Weeks Ended May 3, 2015				Thirteen Weeks Ended May 4, 2014
Net loss recognized in OCI		$	(513	)		$	(224	)
Net gain reclassified from OCI into cost of goods sold		$	268			$	233
Net foreign exchange gain (loss) recognized in other income (expense):
Instruments designated as cash flow hedges1		$	(16	)		$	(34	)
Instruments not designated or de-designated2		$	382			$	584

¹  Changes in fair value of the forward contract related to interest charges or “forward points.”

²  Changes in fair value subsequent to de-designation for instruments no longer designated as cash flow hedges, and changes in fair value related to instruments not designated as cash flow hedges.

Fair Values of Derivative Instruments

The fair values of our derivative financial instruments are presented below. All fair values for these derivatives were measured using Level 2 inputs as defined by the fair value hierarchy described in Note H.

In thousands		Balance sheet location		May 3, 2015				May 4, 2014
Derivatives designated as hedging instruments:
Cash flow hedge foreign currency forward contracts		Other current assets		$	283			$	112
Cash flow hedge foreign currency forward contracts		Other current liabilities			(426	)			(147	)
Total, net				$	(143	)		$	(35	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		Other current assets		$	262			$	72
Total, net				$	262			$	72

Amounts Recorded within Accumulated Other Comprehensive Income Associated with Derivative Instruments

Amounts recorded within accumulated other comprehensive income (“AOCI”) associated with our derivative instruments, pre-tax, were as follows:

In thousands		Thirteen Weeks Ended May 3, 2015				Thirteen Weeks Ended May 4, 2014
AOCI beginning balance amount of gain (loss)		$	1,321			$	741
Amounts recognized in OCI before reclassifications			(513	)			(224	)
Amounts reclassified from OCI to cost of goods sold			(268	)			(233	)
AOCI ending balance amount of gain (loss)		$	540			$	284

X

- Definition

Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-Subparagraph (c)

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959



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- Definition

Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

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Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4B

-Subparagraph (c)(1)

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