Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 30, 2016

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 April 30, 2016 and January 30, 2016 is as follows (in thousands):



	Derivative Balance Sheet Location	Fair Value at Apr 30, 2016		Fair Value at Jan 30, 2016
ASSETS:
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign exchange currency contracts	Other current assets/ Other assets	$	99	$	7,491
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	Other current assets	18		2,306
Total		$	117	$	9,797
LIABILITIES:
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign exchange currency contracts	Accrued expenses/ Other long-term liabilities	$	5,667	$	47
Interest rate swap	Other long-term liabilities	81		—
Total derivatives designated as hedging instruments		5,748		47
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	Accrued expenses	3,930		319
Interest rate swap	Accrued expenses	—		37
Total derivatives not designated as hedging instruments		3,930		356
Total		$	9,678	$	403

Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss)

The following table summarizes the gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss) for the three months ended April 30, 2016 and May 2, 2015 (in thousands):



	Loss Recognized in OCI						Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Loss) (1)	Gain (Loss) Reclassified from Accumulated OCI into Earnings (Loss)
	Three Months Ended							Three Months Ended
	Apr 30, 2016			May 2, 2015				Apr 30, 2016			May 2, 2015
Derivatives designated as cash flow hedges:
Foreign exchange currency contracts	$	(11,412	)	$	(1,147	)	Cost of product sales	$	1,435		$	1,750
Foreign exchange currency contracts	$	(699	)	$	(148	)	Other income/expense	$	32		$	486
Interest rate swap	$	(132	)	$	—		Interest expense	$	(51	)	$	—

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(1)

The Company recognized gains of $0.5 million resulting from the ineffective portion related to foreign exchange currency contracts in interest income during the three months ended April 30, 2016. The ineffective portion related to foreign exchange currency contracts was immaterial during the three months ended May 2, 2015. There was no ineffectiveness recognized related to the interest rate swap during the three months ended April 30, 2016.

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
	Apr 30, 2016			May 2, 2015
Beginning balance gain	$	7,252		$	7,157
Net losses from changes in cash flow hedges	(9,880		)	(926		)
Net gains reclassified to earnings (loss)	(1,145		)	(1,935		)
Ending balance gain (loss)	$	(3,773	)	$	4,296

Summary of gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income (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 April 30, 2016 and May 2, 2015 (in thousands):



	Location of Gain (Loss) Recognized in Earnings (Loss)	Gain (Loss) Recognized in Earnings (Loss)
		Three Months Ended
		Apr 30, 2016			May 2, 2015
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	Other income/expense	$	(6,029	)	$	(701	)
Interest rate swap	Other income/expense	$	38		$	49