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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Aug. 02, 2020
Foreign Currency Forward Contracts Outstanding with Notional Values | As of August 2, 2020 and August 4, 2019, we had foreign currency forward contracts outstanding (in U.S. dollars) with notional values as follows:
In thousands |  | August 2, 2020 |  |  | August 4, 2019 |
Contracts designated as cash flow hedges |  | $ | 6,800 |  |  | $ | 6,000 |
Effect of Derivative Instruments in Consolidated Financial Statements | The effect of derivative instruments in our Condensed Consolidated Financial Statements during the thirteen and twenty-six weeks ended August 2, 2020 and August 4, 2019, pre-tax, was as follows:
|  | Thirteen Weeks Ended |  |  | Twenty-six Weeks Ended |
|  | August 2, 2020 |  |  | August 4, 2019 |  |  | August 2, 2020 |  |  | August 4, 2019 |
In thousands |  | Cost of goods sold |  |  | Selling, general and administrative expenses |  |  | Cost of goods sold |  |  | Selling, general and administrative expenses |  |  | Cost of goods sold |  |  | Selling, general and administrative expenses |  |  | Cost of goods sold |  |  | Selling, general and administrative expenses |
Line items presented in the Condensed Consolidated Statement of Earnings in which the effects of derivatives are recorded |  | $ | 939,575 |  |  | $ | 365,841 |  |  | $ | 886,953 |  |  | $ | 397,696 |  |  | $ | 1,760,518 |  |  | $ | 731,456 |  |  | $ | 1,683,754 |  |  | $ | 767,895 |
Gain (loss) recognized in income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as cash flow hedges |  | $ | 145 |  |  | $ | — |  |  | $ | 187 |  |  | $ | — |  |  | $ | 195 |  |  | $ | — |  |  | $ | 295 |  |  | $ | — |
Derivatives not designated as hedging instruments |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 24 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 18 |
Fair Values of Derivative Instruments | The fair values of our derivative financial instruments are presented below according to their classification in our Condensed Consolidated Balance Sheets. All fair values were measured using Level 2 inputs as defined by the fair value hierarchy described in Note I.
In thousands |  | August 2, 2020 |  |  | August 4, 2019 |
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |
Other current assets |  | $ | 150 |  |  | $ | 142 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
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