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Stockholders' Equity and Redeemable Noncontrolling Interests | 3 Months Ended
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May 02, 2015
Stockholders' Equity and Redeemable Noncontrolling Interests [Abstract] |
Stockholders' Equity and Redeemable Noncontrolling Interests | Stockholders’ Equity and Redeemable Noncontrolling Interests A reconciliation of common stock outstanding, treasury stock and the total carrying amount of total stockholders’ equity, Guess?, Inc. stockholders’ equity and stockholders’ equity attributable to nonredeemable and redeemable noncontrolling interests for the fiscal year ended January 31, 2015 and three months ended May 2, 2015 is as follows (in thousands, except share data):
| Shares |  | Stockholders’ Equity |  |
| Common Stock |  | Treasury Stock |  | Guess?, Inc. Stockholders’ Equity |  | Nonredeemable Noncontrolling Interests |  | Total |  | Redeemable Noncontrolling Interests
Balance at February 1, 2014 | 84,962,345 |  |  | 54,283,384 |  |  | $ | 1,154,514 |  |  | $ | 15,472 |  |  | $ | 1,169,986 |  |  | $ | 5,830 |
Net earnings | — |  |  | — |  |  | 94,570 |  |  | 2,614 |  |  | 97,184 |  |  | — |
Foreign currency translation adjustment | — |  |  | — |  |  | (114,566 | ) |  | (2,141 | ) |  | (116,707 | ) |  | (788 | )
Gain on derivative financial instruments designated as cash flow hedges, net of income tax of ($721) | — |  |  | — |  |  | 7,270 |  |  | — |  |  | 7,270 |  |  | — |
Loss on marketable securities, net of income tax of $61 | — |  |  | — |  |  | (106 | ) |  | — |  |  | (106 | ) |  | — |
Prior service credit amortization and actuarial valuation loss and related amortization on defined benefit plans, net of income tax of $2,335 | — |  |  | — |  |  | (5,862 | ) |  | — |  |  | (5,862 | ) |  | — |
Issuance of common stock under stock compensation plans, net of tax effect | 313,271 |  |  | — |  |  | (1,937 | ) |  | — |  |  | (1,937 | ) |  | — |
Issuance of stock under Employee Stock Purchase Plan | 47,538 |  |  | (47,538 | ) |  | 1,008 |  |  | — |  |  | 1,008 |  |  | — |
Share-based compensation | — |  |  | — |  |  | 15,342 |  |  | — |  |  | 15,342 |  |  | — |
Dividends | — |  |  | — |  |  | (76,982 | ) |  | — |  |  | (76,982 | ) |  | — |
Noncontrolling interest capital distribution | — |  |  | — |  |  | — |  |  | (355 | ) |  | (355 | ) |  | — |
Redeemable noncontrolling interest redemption value adjustment | — |  |  | — |  |  | 605 |  |  | — |  |  | 605 |  |  | (605 | )
Balance at January 31, 2015 | 85,323,154 |  |  | 54,235,846 |  |  | $ | 1,073,856 |  |  | $ | 15,590 |  |  | $ | 1,089,446 |  |  | $ | 4,437 |
Net earnings | — |  |  | — |  |  | 3,341 |  |  | 646 |  |  | 3,987 |  |  | — |
Foreign currency translation adjustment | — |  |  | — |  |  | (339 | ) |  | (364 | ) |  | (703 | ) |  | (140 | )
Loss on derivative financial instruments designated as cash flow hedges, net of income tax of $670 | — |  |  | — |  |  | (2,861 | ) |  | — |  |  | (2,861 | ) |  | — |
Loss on marketable securities, net of income tax of $3 | — |  |  | — |  |  | (4 | ) |  | — |  |  | (4 | ) |  | — |
Prior service credit and actuarial valuation amortization on defined benefit plans, net of income tax of ($149) | — |  |  | — |  |  | 306 |  |  | — |  |  | 306 |  |  | — |
Issuance of common stock under stock compensation plans, net of tax effect | 367,744 |  |  | — |  |  | (471 | ) |  | — |  |  | (471 | ) |  | — |
Issuance of stock under Employee Stock Purchase Plan | 10,223 |  |  | (10,223 | ) |  | 162 |  |  | — |  |  | 162 |  |  | — |
Share-based compensation | — |  |  | — |  |  | 3,612 |  |  | — |  |  | 3,612 |  |  | — |
Dividends | — |  |  | — |  |  | (19,286 | ) |  | — |  |  | (19,286 | ) |  | — |
Noncontrolling interest capital distribution | — |  |  | — |  |  | — |  |  | (3,830 | ) |  | (3,830 | ) |  | — |
Redeemable noncontrolling interest redemption value adjustment | — |  |  | — |  |  | 235 |  |  | — |  |  | 235 |  |  | (235 | )
Balance at May 2, 2015 | 85,701,121 |  |  | 54,225,623 |  |  | $ | 1,058,551 |  |  | $ | 12,042 |  |  | $ | 1,070,593 |  |  | $ | 4,062 |
Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss), net of related income taxes, for the three months ended May 2, 2015 and May 3, 2014 are as follows (in thousands):
| Three Months Ended May 2, 2015
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Marketable Securities |  | Defined Benefit Plans |  | Total
Balance at January 31, 2015 | $ | (121,569 | ) |  | $ | 7,157 |  |  | $ | (3 | ) |  | $ | (12,650 | ) |  | $ | (127,065 | )
Losses arising during the period | (339 | ) |  | (926 | ) |  | (4 | ) |  | — |  |  | (1,269 | )
Reclassification to net earnings for (gains) losses realized | — |  |  | (1,935 | ) |  | — |  |  | 306 |  |  | (1,629 | )
Net other comprehensive income (loss) | (339 | ) |  | (2,861 | ) |  | (4 | ) |  | 306 |  |  | (2,898 | )
Balance at May 2, 2015 | $ | (121,908 | ) |  | $ | 4,296 |  |  | $ | (7 | ) |  | $ | (12,344 | ) |  | $ | (129,963 | )
| Three Months Ended May 3, 2014
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Marketable Securities |  | Defined Benefit Plans |  | Total
Balance at February 1, 2014 | $ | (7,003 | ) |  | $ | (113 | ) |  | $ | 103 |  |  | $ | (6,788 | ) |  | $ | (13,801 | )
Gains (losses) arising during the period | 21,849 |  |  | (2,058 | ) |  | (16 | ) |  | — |  |  | 19,775 |
Reclassification to net loss for (gains) losses realized | — |  |  | 504 |  |  | (54 | ) |  | 109 |  |  | 559 |
Net other comprehensive income (loss) | 21,849 |  |  | (1,554 | ) |  | (70 | ) |  | 109 |  |  | 20,334 |
Balance at May 3, 2014 | $ | 14,846 |  |  | $ | (1,667 | ) |  | $ | 33 |  |  | $ | (6,679 | ) |  | $ | 6,533 |
Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss) during the three months ended May 2, 2015 and May 3, 2014 are as follows (in thousands):
| Three Months Ended |  | Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings (Loss)
| May 2, 2015 |  | May 3, 2014 |
Derivative financial instruments designated as cash flow hedges: |  |  |  |  |
Foreign exchange currency contracts | $ | (1,750 | ) |  | $ | 494 |  |  | Cost of product sales
Foreign exchange currency contracts | (486 | ) |  | 31 |  |  | Other income/expense
Less income tax effect | 301 |  |  | (21 | ) |  | Income tax expense (benefit)
| (1,935 | ) |  | 504 |  |  |
Marketable securities: |  |  |  |  |
Available-for-sale securities | — |  |  | (87 | ) |  | Other income/expense
Less income tax effect | — |  |  | 33 |  |  | Income tax expense (benefit)
| — |  |  | (54 | ) |  |
Defined benefit plans: |  |  |  |  |
Actuarial loss amortization | 513 |  |  | 234 |  |  | (1)
Prior service credit amortization | (58 | ) |  | (58 | ) |  | (1)
Less income tax effect | (149 | ) |  | (67 | ) |  | Income tax expense (benefit)
| 306 |  |  | 109 |  |  |
Total reclassifications during the period | $ | (1,629 | ) |  | $ | 559 |  |  |
__________________________________
(1) | These accumulated other comprehensive income (loss) components are included in the computation of net periodic defined benefit pension cost. Refer to Note 13 for further information.
Redeemable Noncontrolling Interests The Company is party to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest from the acquisition of its majority-owned subsidiary, Guess Sud SAS (“Guess Sud”). The put arrangement for Guess Sud, representing 40% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the noncontrolling interest holders by providing written notice to the Company any time after January 30, 2012. The put arrangement is recorded on the balance sheet at its expected redemption value based on a method which approximates fair value and classified as a redeemable noncontrolling interest outside of permanent equity. The redemption value of the Guess Sud redeemable put arrangement was $3.2 million and $3.4 million as of May 2, 2015 and January 31, 2015, respectively. The Company is also party to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest for its majority-owned subsidiary, Guess Brasil Comércio e Distribuição S.A. (“Guess Brazil”), which was established through a majority-owned joint venture during fiscal 2014. The put arrangement for Guess Brazil, representing 40% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the noncontrolling interest holder by providing written notice to the Company beginning in the sixth year of the agreement, or sooner in certain limited circumstances, and every third anniversary from the end of the sixth year thereafter subject to certain time restrictions. The redemption value of the Guess Brazil put arrangement is based on a multiple of Guess Brazil’s earnings before interest, taxes, depreciation and amortization subject to certain adjustments. The carrying value of the redeemable noncontrolling interest related to Guess Brazil was $0.9 million and $1.0 million as of May 2, 2015 and January 31, 2015, respectively.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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