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Derivatives (Tables) | 3 Months Ended
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May 02, 2020
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 2, 2020 |  | February 1, 2020 |  | May 4, 2019
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Commodity contracts | Other current assets |  | $ | — |  |  | $ | 11.8 |  |  | $ | 0.8 |
Commodity contracts | Other assets |  | — |  |  | — |  |  | 0.1 |
Total derivative assets |  |  | — |  |  | 11.8 |  |  | 0.9 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign currency contracts | Other current assets |  | 0.1 |  |  | 0.6 |  |  | 1.0 |
Total derivative assets |  |  | $ | 0.1 |  |  | $ | 12.4 |  |  | $ | 1.9 |
| Fair value of derivative liabilities
(in millions) | Balance sheet location |  | May 2, 2020 |  | February 1, 2020 |  | May 4, 2019
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Foreign currency contracts | Other current liabilities |  | $ | — |  |  | $ | (0.8 | ) |  | $ | (0.1 | )
Commodity contracts | Other current liabilities |  | — |  |  | — |  |  | (0.3 | )
Commodity contracts | Other liabilities |  | — |  |  | — |  |  | (0.2 | )
|  |  | — |  |  | (0.8 | ) |  | (0.6 | )
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign currency contracts | Other current liabilities |  | (0.3 | ) |  | (0.1 | ) |  | — |
Total derivative liabilities |  |  | $ | (0.3 | ) |  | $ | (0.9 | ) |  | $ | (0.6 | )
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 2, 2020 |  | February 1, 2020 |  | May 4, 2019
Foreign currency contracts | $ | — |  |  | $ | (1.0 | ) |  | $ | 0.4 |
Commodity contracts | 6.2 |  |  | 17.7 |  |  | 0.1 |
Gains (losses) recorded in AOCI | $ | 6.2 |  |  | $ | 16.7 |  |  | $ | 0.5 |
Derivative Instruments, Gain (Loss) | 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 2, 2020 |  | May 4, 2019
Gains (losses) recorded in AOCI, beginning of period |  |  | $ | (1.0 | ) |  | $ | 0.7 |
Current period gains (losses) recognized in OCI |  |  | 1.6 |  |  | — |
Losses (gains) reclassified from AOCI to net income | Cost of sales (1) |  | — |  |  | (0.3 | )
Gains from ineffective hedges reclassified from AOCI to net income | Other operating income, net (1) |  | (0.6 | ) |  | — |
Gains (losses) recorded in AOCI, end of period |  |  | $ | — |  |  | $ | 0.4 |
Commodity contracts
|  |  | 13 weeks ended
(in millions) | Statement of operations caption |  | May 2, 2020 |  | May 4, 2019
Gains (losses) recorded in AOCI, beginning of period |  |  | $ | 17.7 |  |  | $ | 4.0 |
Current period gains (losses) recognized in OCI |  |  | (1.4 | ) |  | (4.3 | )
Losses (gains) reclassified from AOCI to net income | Cost of sales (1) |  | (0.8 | ) |  | 0.4 |
Gains from ineffective hedges reclassified from AOCI to net income | Other operating income, net (1) |  | (9.3 | ) |  | — |
Gains (losses) recorded in AOCI, end of period |  |  | $ | 6.2 |  |  | $ | 0.1 |
Interest rate swaps
|  |  | 13 weeks ended
(in millions) | Statement of operations caption |  | May 2, 2020 |  | May 4, 2019
Gains recorded in AOCI, beginning of period |  |  | $ | — |  |  | $ | 0.6 |
(Gains) losses reclassified from AOCI to net income | Interest expense, net (1) |  | — |  |  | (0.6 | )
Gains recorded in AOCI, end of period |  |  | $ | — |  |  | $ | — |
(1) | Refer to table below for total amounts of financial statement captions impacted by cash flow hedges.
Total amounts presented in the condensed consolidated statements of operations
|  | 13 weeks ended
(in millions) |  | May 2, 2020 |  | May 4, 2019
Cost of sales |  | $ | (648.3 | ) |  | $ | (932.3 | )
Other operating income, net |  | 3.6 |  |  | — |
Interest expense, net |  | $ | (7.1 | ) |  | $ | (9.2 | )
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 2, 2020 |  | May 4, 2019
Foreign currency contracts | Other operating income, net |  | $ | (3.9 | ) |  | $ | 1.1 |

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