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Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Jan. 30, 2015
FINANCIAL INSTRUMENTS  
Fair value of the company's derivatives and consolidated balance sheet location

 

 

Asset Derivatives

 

Liability Derivatives

 

 

 

January 30, 2015

 

January 31, 2014

 

January 30, 2015

 

January 31, 2014

 

 

 

Balance

 

 

 

Balance

 

 

 

Balance

 

 

 

Balance

 

 

 

 

 

Sheet

 

Fair

 

Sheet

 

Fair

 

Sheet

 

Fair

 

Sheet

 

Fair

 

(Dollars in thousands)

 

Location

 

Value

 

Location

 

Value

 

Location

 

Value

 

Location

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives Designated as Hedging Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward currency contracts

 

Prepaid expenses

 

$
9,125 

 

Prepaid expenses

 

$
1,527 

 

Accrued liabilities

 

$

—

 

Accrued liabilities

 

$
147 

 

Cross currency contract

 

Prepaid expenses

 

—

 

Prepaid expenses

 

—

 

Accrued liabilities

 
440 

 

Accrued liabilities

 
274 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives Not Designated as Hedging Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward currency contracts

 

Prepaid expenses

 
4,901 

 

Prepaid expenses

 
1,250 

 

Accrued liabilities

 

—

 

Accrued liabilities

 

—

 

Cross currency contract

 

Prepaid expenses

 
1,930 

 

Prepaid expenses

 

—

 

Accrued liabilities

 

—

 

Accrued liabilities

 
171 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Derivatives

 

 

 

$
15,956 

 

 

 

$
2,777 

 

 

 

$
440 

 

 

 

$
592 

 

 

Impact of derivative instruments on the consolidated statements of earnings for the company's derivatives designated as cash flow hedging instruments

 

 

 

 

 

 

 

 

Location of Gain (Loss)

 

Gain (Loss)

 

 

 

 

 

Location of Gain

 

 

 

Recognized in Income

 

Recognized in Income

 

 

 

Gain (Loss)

 

(Loss) Reclassified

 

Gain (Loss)

 

on Derivatives

 

on Derivatives

 

 

 

Recognized in OCI on

 

from AOCL

 

Reclassified from

 

(Ineffective Portion

 

(Ineffective Portion and

 

 

 

Derivatives

 

into Income

 

AOCL into Income

 

and excluded from

 

Excluded from

 

 

 

(Effective Portion)

 

(Effective Portion)

 

(Effective Portion)

 

Effectiveness Testing)

 

Effectiveness Testing)

 

(Dollars in thousands)

 

January 30,

 

January 31,

 

 

 

January 30,

 

January 31,

 

 

 

January 30,

 

January 31,

 

For the three months ended

 

2015

 

2014

 

 

 

2015

 

2014

 

 

 

2015

 

2014

 

Forward currency contracts

 

$
4,178

 

$
1,894

 

Net sales

 

$
2,004

 

$
(453

)

Other income, net

 

$
227

 

$
(371

)

Forward currency contracts

 
(1,384

)
(399

)

Cost of sales

 
(313

)
47

 

 

 

 

 

 

 

Cross currency contracts

 
(18

)
(186

)

Other income, net

 
(13

)
123

 

 

 

 

 

 

 

Total

 

$
2,776

 

$
1,309

 

 

 

$
1,678

 

$
(283

)

 

 

 

 

 

 

 

Impact of derivative instruments on the consolidated statements of earnings for the company's derivatives not designated as hedging instruments

 

 

 

 

Gain (Loss) Recognized in Net Earnings

 

 

 

 

 

Three Months Ended

 

 

 

Location of Gain (Loss)

 

January 30,

 

January 31,

 

(Dollars in thousands)

 

Recognized in Net Earnings

 

2015

 

2014

 

Forward currency contracts

 

Other income, net

 

$
8,261

 

$
(371

)

Cross currency contracts

 

Other income, net

 
1,135

 
(48

)

 

 

 

 

$
9,396

 

$
(419

)

 

Schedule of effects of the master netting arrangements on the fair value of the company's derivative contracts that are recorded in the Consolidated Balance Sheets

 

 

Assets

 

Liabilities

 

 

 

Gross Amount

 

Gross Liabilities

 

Net Amount

 

Gross Amount

 

Gross Assets

 

Net Amount of

 

(Dollars in thousands)

 

of Recognized

 

Offset in the

 

of Assets Presented

 

of Recognized

 

offset in the

 

Liabilities Presented

 

January 30, 2015

 

Assets

 

Balance Sheet

 

in the Balance Sheet

 

Liabilities

 

Balance Sheet

 

in the Balance Sheet

 

Forward currency contracts

 

$
15,781

 

$
(1,755

)

$
14,026

 

$

—

 

$

—

 

$

—

 

Cross currency contracts

 
1,930

 

—

 
1,930

 
(440

)

—

 
(440

)

 

 

$
17,711

 

$
(1,755

)

$
15,956

 

$
(440

)

$

—

 

$
(440

)

 

 

 

Assets

 

Liabilities

 

 

 

Gross Amount

 

Gross Liabilities

 

Net Amount

 

Gross Amount

 

Gross Assets

 

Net Amount of

 

(Dollars in thousands)

 

of Recognized

 

Offset in the

 

of Assets Presented

 

of Recognized

 

offset in the

 

Liabilities Presented

 

January 31, 2014

 

Assets

 

Balance Sheet

 

in the Balance Sheet

 

Liabilities

 

Balance Sheet

 

in the Balance Sheet

 

Forward currency contracts

 

$
2,916

 

$
(139

)

$
2,777

 

$
(147

)

$

—

 

$
(147

)

Cross currency contracts

 

—

 

—

 

—

 
(445

)

—

 
(445

)

 

 

$
2,916

 

$
(139

)

$
2,777

 

$
(592

)

$

—

 

$
(592

)