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Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended
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Apr. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivatives and Consolidated Balance Sheet Location | The following table presents the fair value and location of the company’s derivative instruments on the Condensed Consolidated Balance Sheets:
(Dollars in thousands) |  | April 30, 2021 |  | May 1, 2020 |  | October 31, 2020
Derivative assets: |  |  |  |  |  |
Derivatives designated as cash flow hedging instruments: |  |  |  |  |  |
Prepaid expenses and other current assets |  |  |  |  |  |
Forward currency contracts |  | $ | 1,452 |  |  | $ | 13,303 |  |  | $ | 802 |
Derivatives not designated as cash flow hedging instruments: |  |  |  |  |  |
Prepaid expenses and other current assets |  |  |  |  |  |
Forward currency contracts |  | 245 |  |  | 7,270 |  |  | 131 |
Total derivative assets |  | $ | 1,697 |  |  | $ | 20,573 |  |  | $ | 933 |
Derivative liabilities: |  |  |  |  |  |
Derivatives designated as cash flow hedging instruments: |  |  |  |  |  |
Accrued liabilities |  |  |  |  |  |
Forward currency contracts |  | $ | 13,923 |  |  | $ | — |  |  | $ | 2,687 |
Derivatives not designated as cash flow hedging instruments: |  |  |  |  |  |
Accrued liabilities |  |  |  |  |  |
Forward currency contracts |  | 4,100 |  |  | 259 |  |  | (203) |
Total derivative liabilities |  | $ | 18,023 |  |  | $ | 259 |  |  | $ | 2,484 |
Schedule of Effects of Master Netting Arrangements on Fair Value of Derivative Contracts Recorded in Consolidated Balance Sheets | The following table presents the effects of the master netting arrangements on the fair value of the company’s derivative instruments that are recorded on the Condensed Consolidated Balance Sheets:
(Dollars in thousands) |  | April 30, 2021 |  | May 1, 2020 |  | October 31, 2020
Derivative assets: |  |  |  |  |  |
Forward currency contracts: |  |  |  |  |  |
Gross amount of derivative assets |  | $ | 1,697 |  |  | $ | 20,662 |  |  | $ | 1,139 |
Derivative liabilities offsetting derivative assets |  | — |  |  | (89) |  |  | (206) |
Net amount of derivative assets |  | $ | 1,697 |  |  | $ | 20,573 |  |  | $ | 933 |
Derivative liabilities: |  |  |  |  |  |
Forward currency contracts: |  |  |  |  |  |
Gross amount of derivative liabilities |  | $ | (18,111) |  |  | $ | (259) |  |  | $ | (3,233) |
Derivative assets offsetting derivative liabilities |  | 88 |  |  | — |  |  | 749 |
Net amount of derivative liabilities |  | $ | (18,023) |  |  | $ | (259) |  |  | $ | (2,484) |
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Designated as Cash Flow Hedging Instruments | The following tables present the impact and location of the amounts reclassified from AOCL into net earnings on the Condensed Consolidated Statements of Earnings and the impact of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the company's derivatives designated as cash flow hedging instruments for the three and six months ended April 30, 2021 and May 1, 2020:
|  | Three Months Ended
|  | Gain (Loss) Reclassified from AOCL into Earnings |  | Gain Recognized in OCI on Derivatives
(Dollars in thousands) |  | April 30, 2021 |  | May 1, 2020 |  | April 30, 2021 |  | May 1, 2020
Derivatives designated as cash flow hedging instruments: |  |  |  |  |  |  |  |
Forward currency contracts: |  |  |  |  |  |  |  |
Net sales |  | $ | (4,115) |  |  | $ | 2,272 |  |  | $ | 964 |  |  | $ | 2,521 |
Cost of sales |  | (70) |  |  | 208 |  |  | 197 |  |  | 153 |
Total derivatives designated as cash flow hedging instruments |  | $ | (4,185) |  |  | $ | 2,480 |  |  | $ | 1,161 |  |  | $ | 2,674 |
|  | Six Months Ended
|  | Gain (Loss) Reclassified from AOCL into Earnings |  | Gain (Loss) Recognized in OCI on Derivatives
(Dollars in thousands) |  | April 30, 2021 |  | May 1, 2020 |  | April 30, 2021 |  | May 1, 2020
Derivatives designated as cash flow hedging instruments: |  |  |  |  |  |  |  |
Forward currency contracts: |  |  |  |  |  |  |  |
Net sales |  | $ | (6,212) |  |  | $ | 3,477 |  |  | $ | (6,730) |  |  | $ | 3,105 |
Cost of sales |  | 29 |  |  | 540 |  |  | (419) |  |  | 221 |
Total derivatives designated as cash flow hedging instruments |  | $ | (6,183) |  |  | $ | 4,017 |  |  | $ | (7,149) |  |  | $ | 3,326 |
The following tables present the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives designated as cash flow hedging instruments and the related components excluded from effectiveness testing:
|  | Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in thousands) |  | April 30, 2021 |  | May 1, 2020
Three Months Ended |  | Net Sales |  | Cost of Sales |  | Net Sales |  | Cost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded |  | $ | 1,149,107 |  |  | $ | (746,154) |  |  | $ | 929,398 |  |  | $ | (622,681) |
Gain (loss) on derivatives designated as cash flow hedging instruments: |  |  |  |  |  |  |  |
Forward currency contracts: |  |  |  |  |  |  |  |
Amount of gain (loss) reclassified from AOCL into earnings |  | (4,115) |  |  | (70) |  |  | 2,272 |  |  | 208 |
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value |  | $ | 300 |  |  | $ | 111 |  |  | $ | 2,332 |  |  | $ | 134 |
|  | Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in thousands) |  | April 30, 2021 |  | May 1, 2020
Six Months Ended |  | Net Sales |  | Cost of Sales |  | Net Sales |  | Cost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded |  | $ | 2,022,093 |  |  | $ | (1,304,104) |  |  | $ | 1,696,881 |  |  | $ | (1,102,076) |
Gain (loss) on derivatives designated as cash flow hedging instruments: |  |  |  |  |  |  |  |
Forward currency contracts: |  |  |  |  |  |  |  |
Amount of gain (loss) reclassified from AOCL into earnings |  | (6,212) |  |  | 29 |  |  | 3,477 |  |  | 540 |
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value |  | $ | 462 |  |  | $ | 296 |  |  | $ | 2,992 |  |  | $ | 145 |
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Not Designated as Hedging Instruments | The following table presents the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives not designated as cash flow hedging instruments:
|  | Three Months Ended |  | Six Months Ended
(Dollars in thousands) |  | April 30, 2021 |  | May 1, 2020 |  | April 30, 2021 |  | May 1, 2020
Gain (loss) on derivatives not designated as cash flow hedging instruments |  |  |  |  |  |  |  |
Forward currency contracts: |  |  |  |  |  |  |  |
Other income, net |  | $ | (3,005) |  |  | $ | 1,557 |  |  | $ | (6,483) |  |  | $ | 1,777 |
Total gain (loss) on derivatives not designated as cash flow hedging instruments |  | $ | (3,005) |  |  | $ | 1,557 |  |  | $ | (6,483) |  |  | $ | 1,777 |

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