Derivatives (Tables)

3 Months Ended

May 04, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the fair value and presentation of derivative instruments in the condensed consolidated balance sheets:



	Fair value of derivative assets
(in millions)	Balance sheet location	May 4, 2019		February 2, 2019		May 5, 2018
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	$	0.1	$	0.4
Commodity contracts	Other current assets	0.8		4.3		0.1
Commodity contracts	Other assets	0.1		1.4		—
Interest rate swaps	Other assets	—		0.6		2.3
Total derivative assets		$	0.9	$	6.4	$	2.8

Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	1.0		0.8		—
Total derivative assets		$	1.9	$	7.2	$	2.8



	Fair value of derivative liabilities
(in millions)	Balance sheet location	May 4, 2019			February 2, 2019			May 5, 2018
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current liabilities	$	(0.1	)	$	(0.2	)	$	(0.2	)
Commodity contracts	Other current liabilities	(0.3		)	—			—
Commodity contracts	Other liabilities	(0.2		)	—			—
		$	(0.6	)	$	(0.2	)	$	(0.2	)
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current liabilities	—			—			(1.0		)
Total derivative liabilities		$	(0.6	)	$	(0.2	)	$	(1.2	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the pre-tax gains (losses) recorded in AOCI for derivatives designated in cash flow hedging relationships:



(in millions)	May 4, 2019		February 2, 2019		May 5, 2018
Foreign currency contracts	$	0.4	$	0.7	$	(0.8	)
Commodity contracts	0.1		4.0		1.1
Interest rate swaps	—		0.6		2.3
Gains (losses) recorded in AOCI	$	0.5	$	5.3	$	2.6

Derivative Instruments, Gain (Loss)

The following table presents the effects of the Company’s derivatives instruments not designated as cash flow hedges in the condensed consolidated statement of operations:



		13 weeks ended
(in millions)	Statement of operations caption	May 4, 2019		May 5, 2018
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other operating income, net	$	1.1	$	(4.8	)

The following tables summarize the effect of derivative instruments designated as cash flow hedges in OCI and the condensed consolidated statement of operations:

Foreign currency contracts



		13 weeks ended
(in millions)	Statement of operations caption	May 4, 2019			May 5, 2018
(Losses) gains recorded in AOCI, beginning of period		$	0.7		$	(2.4	)
Current period gains (losses) recognized in OCI		—			1.3
Losses (gains) reclassified from AOCI to net income	Cost of sales	(0.3		)	0.3
Gains recorded in AOCI, end of period		$	0.4		$	(0.8	)

Commodity contracts



		13 weeks ended
(in millions)	Statement of operations caption	May 4, 2019			May 5, 2018
Gains (losses) recorded in AOCI, beginning of period		$	4.0		$	1.4
Current period gains (losses) recognized in OCI		(4.3		)	0.2
Gains reclassified from AOCI to net income	Cost of sales	0.4			(0.5		)
Gains (losses) recorded in AOCI, end of period		$	0.1		$	1.1

Interest rate swaps



		13 weeks ended
(in millions)	Statement of operations caption	May 4, 2019			May 5, 2018
Gains recorded in AOCI, beginning of period		$	0.6		$	2.2
Current period gains (losses) recognized in OCI		—			0.4
(Gains) losses reclassified from AOCI to net income	Interest expense, net	(0.6		)	(0.3		)
Gains recorded in AOCI, end of period		$	—		$	2.3