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Derivative Financial Instruments | 3 Months Ended
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Aug. 01, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | Note 14. Derivative Financial Instruments We utilize derivative financial instruments to manage the economic impact of fluctuations in currency exchange rates on those transactions denominated in currencies other than our functional currency, which is the U.S. dollar. We enter into currency forward contracts to manage these economic risks. We account for all derivatives in the condensed consolidated balance sheets within accounts receivable or accounts payable measured at fair value, and changes in fair values are recognized in earnings unless specific hedge accounting criteria are met for cash flow or net investment hedges. As of August 1, 2020 and May 2, 2020, we had not designated any of our derivative instruments as accounting hedges, and thus we recorded the changes in fair value in the "Other (expense) income, net" line item in the condensed consolidated statements of operations. The foreign currency exchange contracts in aggregated notional amounts in place to exchange U.S. dollars at August 1, 2020 and May 2, 2020 were as follows:
| August 1, 2020 |  | May 2, 2020
| U.S. Dollars |  | Foreign Currency |  | U.S. Dollars |  | Foreign Currency
Foreign Currency Exchange Forward Contracts: |  |  |  |  |  |  |
U.S. Dollars/Australian Dollars | 5,406 |  |  | 7,839 |  |  | 2,235 |  |  | 3,323 |
U.S. Dollars/Canadian Dollars | — |  |  | — |  |  | 452 |  |  | 648 |
U.S. Dollars/British Pounds | 2,149 |  |  | 1,650 |  |  | 3,160 |  |  | 2,424 |
U.S. Dollars/Euros | — |  |  | — |  |  | 1,881 |  |  | 1,689 |
As of August 1, 2020, there was an asset and liability of $36 and $242, respectively; and as of May 2, 2020, there was an asset and liability of $261 and $17, respectively, representing the fair value of foreign currency exchange forward contracts, which were determined using Level 2 inputs from a third-party bank. As of August 1, 2020, all contracts mature within 17 months.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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