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Derivative Financial Instruments (Tables) | 6 Months Ended
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Aug. 01, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of fair value of derivative instruments in the condensed consolidated balance sheets | The fair value of derivative instruments in the condensed consolidated balance sheets as of August 1, 2015 and January 31, 2015 is as follows (in thousands):
|  | Derivative Balance Sheet Location |  | Fair Value at Aug 1, 2015 |  | Fair Value at Jan 31, 2015
ASSETS: |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts: |  |  |  |  |  |
Cash flow hedges |  | Other current assets/ Other assets |  | $ | 4,454 |  |  | $ | 6,597 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Other current assets |  | 3,992 |  |  | 8,945 |
Total |  |  |  | $ | 8,446 |  |  | $ | 15,542 |
LIABILITIES: |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts: |  |  |  |  |  |
Cash flow hedges |  | Accrued expenses |  | $ | 76 |  |  | $ | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Accrued expenses |  | 131 |  |  | — |
Interest rate swaps |  | Accrued expenses/ Other long-term liabilities |  | 165 |  |  | 270 |
Total derivatives not designated as hedging instruments |  |  |  | 296 |  |  | 270 |
Total |  |  |  | $ | 372 |  |  | $ | 270 |
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 and six months ended August 1, 2015 and August 2, 2014 (in thousands):
| Gain Recognized in OCI |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings(1) |  | Gain (Loss) Reclassified from Accumulated OCI into Earnings
| Three Months Ended |  |  | Three Months Ended
| Aug 1, 2015 |  | Aug 2, 2014 |  |  | Aug 1, 2015 |  | Aug 2, 2014
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 5,343 |  |  | $ | 1,866 |  |  | Cost of product sales |  | $ | 3,193 |  |  | $ | (265 | )
Foreign exchange currency contracts | $ | 378 |  |  | $ | 1 |  |  | Other income/expense |  | $ | 330 |  |  | $ | (25 | )
| Gain (Loss) Recognized in OCI |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings(1) |  | Gain (Loss) Reclassified from Accumulated OCI into Earnings
| Six Months Ended |  |  | Six Months Ended
| Aug 1, 2015 |  | Aug 2, 2014 |  |  | Aug 1, 2015 |  | Aug 2, 2014
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 4,196 |  |  | $ | (706 | ) |  | Cost of product sales |  | $ | 4,943 |  |  | $ | (759 | )
Foreign exchange currency contracts | $ | 230 |  |  | $ | (106 | ) |  | Other income/expense |  | $ | 816 |  |  | $ | (56 | )
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(1) | The ineffective portion was immaterial during the three and six months ended August 1, 2015 and August 2, 2014 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 (loss) | The following table summarizes net after-tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands):
| Three Months Ended |  | Six Months Ended
| Aug 1, 2015 |  | Aug 2, 2014 |  | Aug 1, 2015 |  | Aug 2, 2014
Beginning balance gain (loss) | $ | 4,296 |  |  | $ | (1,667 | ) |  | $ | 7,157 |  |  | $ | (113 | )
Net gains (losses) from changes in cash flow hedges | 4,584 |  |  | 1,352 |  |  | 3,658 |  |  | (706 | )
Net (gains) losses reclassified to earnings | (3,012 | ) |  | 681 |  |  | (4,947 | ) |  | 1,185 |
Ending balance gain | $ | 5,868 |  |  | $ | 366 |  |  | $ | 5,868 |  |  | $ | 366 |
Summary of gains before taxes recognized on the derivative instruments not designated as hedging instruments in other income | The following table summarizes the gains before taxes recognized on the derivative instruments not designated as hedging instruments in other income for the three and six months ended August 1, 2015 and August 2, 2014 (in thousands):
|  | Location of Gain Recognized in Earnings |  | Gain Recognized in Earnings |  | Gain Recognized in Earnings
|  |  | Three Months Ended |  | Six Months Ended
|  |  | Aug 1, 2015 |  | Aug 2, 2014 |  | Aug 1, 2015 |  | Aug 2, 2014
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Other income/expense |  | $ | 2,860 |  |  | $ | 3,984 |  |  | $ | 2,159 |  |  | $ | 1,195 |
Interest rate swaps |  | Other income/expense |  | $ | 47 |  |  | $ | 57 |  |  | $ | 96 |  |  | $ | 132 |

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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=35706170&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: 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=35706170&loc=SL5624171-113959 Reference 2: 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=35706170&loc=SL5618551-113959 + Details
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