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Derivative Financial Instruments (Tables) | 3 Months Ended
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May 04, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of fair value of derivative instruments in the consolidated balance sheet | The fair value of derivative instruments in the condensed consolidated balance sheet as of May 4, 2013 and February 2, 2013 was as follows (in thousands):
|  | Derivative Balance Sheet Location |  | Fair Value at May 4, 2013 |  | Fair Value at Feb 2, 2013
ASSETS: |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts: |  |  |  |  |  |
Cash flow hedges |  | Other current assets |  | $ | 1,940 |  |  | $ | 387 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Other current assets |  | 1,833 |  |  | 971 |
Total |  |  |  | $ | 3,773 |  |  | $ | 1,358 |
LIABILITIES: |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts: |  |  |  |  |  |
Cash flow hedges |  | Current liabilities |  | $ | 34 |  |  | $ | 2,904 |
Net investment hedges |  | Current liabilities |  | 23 |  |  | — |
Total derivatives designated as hedging instruments |  |  |  | 57 |  |  | 2,904 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Current liabilities |  | 29 |  |  | 2,648 |
Interest rate swaps |  | Long-term liabilities |  | 737 |  |  | 852 |
Total derivatives not designated as hedging instruments |  |  |  | 766 |  |  | 3,500 |
Total |  |  |  | $ | 823 |  |  | $ | 6,404 |
Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings | The following table summarizes the gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings for the three months ended May 4, 2013 and April 28, 2012 (in thousands):
| Gain/(Loss) Recognized in OCI |  | Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (1) |  | Gain/(Loss) Reclassified from Accumulated OCI into Income
| Three Months Ended May 4, 2013 |  | Three Months Ended Apr 28, 2012 |  |  | Three Months Ended May 4, 2013 |  | Three Months Ended Apr 28, 2012
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 4,232 |  |  | $ | (823 | ) |  | Cost of sales |  | $ | 479 |  |  | $ | 2,443 |
Foreign exchange currency contracts | $ | 438 |  |  | $ | (51 | ) |  | Other income/expense |  | $ | (21 | ) |  | $ | 178 |
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(1) | The ineffective portion was immaterial during the three months ended May 4, 2013 and April 28, 2012 and was recorded in net earnings and included in interest income/expense.
Summary of net after-tax derivative activity recorded in accumulated other comprehensive income | The following table summarizes net after-tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands):
|  | Three Months Ended
|  | May 4, 2013 |  | Apr 28, 2012
Beginning balance gain (loss) |  | $ | (1,782 | ) |  | $ | 4,259 |
Net gains (losses) from changes in cash flow hedges |  | 4,088 |  |  | (494 | )
Net gains reclassified to income |  | (388 | ) |  | (2,300 | )
Ending balance gain |  | $ | 1,918 |  |  | $ | 1,465 |
Summary of gains (losses) before taxes recognized on the derivative instruments not designated as cash flow hedges in other income and expense | The following table summarizes the gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income and expense for the three months ended May 4, 2013 and April 28, 2012 (in thousands):
| Location of Gain/(Loss) Recognized in Income |  | Gain/(Loss) Recognized in Income
|  | Three Months Ended May 4, 2013 |  | Three Months Ended Apr 28, 2012
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange currency contracts | Other income/expense |  | $ | 3,776 |  |  | $ | (2,254 | )
Interest rate swaps | Other income/expense |  | $ | 78 |  |  | $ | 19 |

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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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