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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Aug. 02, 2015

Foreign Currency Forward Contracts Outstanding

As of August 2, 2015, and August 3, 2014, we had foreign currency forward contracts outstanding (in U.S. dollars) as follows:

In thousands		August 2, 2015				August 3, 2014
Contracts to sell Canadian dollars and buy U.S. dollars
Contracts designated as cash flow hedges			$  12,500				$  24,400
Contracts not designated as cash flow hedges 1			$           0				$           0
Contracts to sell Australian dollars and buy U.S. dollars
Contracts not designated as cash flow hedges			$  35,000				$  10,410

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 August 2, 2015				Thirteen Weeks Ended August 3, 2014				Twenty-Six Weeks Ended August 2, 2015				Twenty-Six Weeks Ended August 3, 2014
Net gain (loss) recognized in OCI			$   1,084				$   22				$    571				$  (202	)
Net gain reclassified from OCI into cost of goods sold			$      643				$ 287				$    911				$   520
Net foreign exchange gain (loss) recognized in other income (expense):
Instruments designated as cash flow hedges1			$       (26	)			$  (53	)			$     (42	)			$    (87	)
Instruments not designated or de-designated2			$   2,023				$   36				$ 2,405				$   620

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 I.

In thousands		Balance sheet location		August 2, 2015				August 3, 2014
Derivatives designated as hedging instruments:
Cash flow hedge foreign currency forward contracts		Other current assets			$  610				$ 150
Cash flow hedge foreign currency forward contracts		Other current liabilities			0				(198	)
Total, net					$  610				$  (48	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		Other current assets			$    79				$     0
Foreign currency forward contracts		Other current liabilities			0				$  (16	)
Total, net					$    79				$  (16	)

X

- 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

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-Publisher FASB



-Name Accounting Standards Codification



-Topic 815



-SubTopic 10



-Section 50



-Paragraph 4C



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+ References

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



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-Name Accounting Standards Codification



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-SubTopic 10



-Section 50



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+ References

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-Publisher FASB



-Name Accounting Standards Codification



-Topic 815



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