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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Feb. 01, 2020
Fair Value of Company's Derivative Financial Instruments on Gross Basis as well as Classification | The tables below present the fair value of the Company’s derivative financial instruments on a gross basis, as well as their classification on the Company’s Consolidated Balance Sheets:
|  | (in thousands) |
|  | Fair Values of Derivative Instruments |
|  | February 1, 2020 |  |  | February 2, 2019 |
Derivatives Designated as Hedging Instruments |  | Balance Sheet Location |  | Fair Value |  |  | Balance Sheet Location |  | Fair Value |
Interest rate cap contracts |  | N/A |  | N/A |  |  | Prepaid and other current assets |  | $ | 2,213 |
Interest rate swap contract |  | Other liabilities |  | $ | 26,220 |  |  | Other liabilities |  | $ | 5,239 |
Summary of Unrealized (Losses) Gains Deferred to Accumulated Other Comprehensive Loss | The following table presents the unrealized (losses) gains deferred to accumulated other comprehensive loss resulting from the Company’s derivative instruments designated as cash flow hedging instruments for each of the reporting periods.
|  | (in thousands) |
|  | Fiscal Year Ended |
|  | February 1, 2020 |  |  | February 2, 2019 |  |  | February 3, 2018 |
Interest Rate Derivatives: |  |  |  |  |  |  |  |  |  | (53 Weeks) |
Unrealized (losses) gains, before taxes |  | $ | (22,959 | ) |  | $ | (4,232 | ) |  | $ | 3,460 |
Income tax benefit (expense) |  |  | 6,353 |  |  |  | 1,152 |  |  |  | (1,718 | )
Unrealized (losses) gains, net of taxes |  | $ | (16,606 | ) |  | $ | (3,080 | ) |  | $ | 1,742 |
Reclassification of Losses from Accumulated Other Comprehensive Loss into Earnings | The following table presents information about the reclassification of losses from accumulated other comprehensive loss into earnings related to the Company’s derivative instruments designated as cash flow hedging instruments for each of the reporting periods.
|  | (in thousands) |
|  | Fiscal Year Ended |
|  | February 1, 2020 |  |  | February 2, 2019 |  |  | February 3, 2018 |
Component of Earnings: |  |  |  |  |  |  |  |  |  | (53 Weeks) |
Interest expense |  | $ | 1,733 |  |  | $ | 1,872 |  |  | $ | 5,931 |
Income tax expense |  |  | (474 | ) |  |  | (518 | ) |  |  | (2,369 | )
Net reclassification into earnings |  | $ | 1,259 |  |  | $ | 1,354 |  |  | $ | 3,562 |
Derivatives Designated as Hedging Instruments |
Outstanding Interest Rate Derivatives in Qualifying Hedging Relationships | As of February 1, 2020, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:
Interest Rate Derivative |  | Number of Instruments |  | Notional Aggregate Principal Amount |  | Interest Cap/Swap Rate |  |  | Maturity Date
Interest rate swap contract |  | One |  | $ 450.0 million |  | 2.72% |  |  | December 29, 2023

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- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + 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 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: 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=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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