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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jul. 31, 2016

Foreign Currency Forward Contracts Outstanding with Notional Values

As of July 31, 2016 and August 2, 2015, we had foreign currency forward contracts outstanding (in U.S. dollars) with notional values as follows:

In thousands		July 31, 2016				August 2, 2015
Contracts designated as cash flow hedges		$	28,450			$	12,500
Contracts not designated as cash flow hedges		$	44,000			$	35,000

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 July 31, 2016				Thirteen Weeks Ended August 2, 2015				Twenty-six Weeks Ended July 31, 2016				Twenty-six Weeks Ended August 2, 2015
Net gain (loss) recognized in OCI		$	1,434			$	1,084			$	(1,499	)		$	571
Net gain reclassified from OCI into cost of goods sold		$	50			$	643			$	459			$	911
Net foreign exchange gain (loss) recognized in selling, general and administrative expense:
Instruments designated as cash flow hedges1		$	(13	)		$	(26	)		$	10			$	(42	)
Instruments not designated or de-designated2		$	309			$	2,023			$	(3,033	)		$	2,405

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

²  Changes in fair value for instruments not designated as cash flow hedges as well as de-designated instruments.

Fair Values of Derivative Instruments

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

In thousands		Balance sheet location				July 31, 2016				August 2, 2015
Derivatives designated as hedging instruments:
Cash flow hedge foreign currency forward contracts			Other current assets			$	309			$	610
Cash flow hedge foreign currency forward contracts			Other current liabilities				(695	)			—
Total, net						$	(386	)		$	610
Derivatives not designated as hedging instruments:
Foreign currency forward contracts			Other current assets			$	9			$	79
Foreign currency forward contracts			Other current liabilities				—				—
Total, net						$	9			$	79

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 2: 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=64837297&loc=SL5618551-113959

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X

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959

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X

- Definition

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

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