Stockholders' Equity and Redeemable Noncontrolling Interests (Tables)

6 Months Ended

Jul. 30, 2016

Stockholders' Equity and Redeemable Noncontrolling Interests [Abstract]

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

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 30, 2016 and six months ended July 30, 2016 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 January 31, 2015	85,323,154		54,235,846		$	1,073,856		$	15,590		$	1,089,446		$	4,437
Net earnings	—		—		81,851			2,964			84,815			—
Foreign currency translation adjustment	—		—		(36,083		)	(1,661		)	(37,744		)	(476		)
Gain on derivative financial instruments designated as cash flow hedges, net of income tax of ($559)	—		—		95			—			95			—
Loss on marketable securities, net of income tax of $7	—		—		(12		)	—			(12		)	—
Actuarial valuation gain (loss) and related amortization, plan amendment, curtailment, prior service credit amortization and foreign currency and other adjustments on defined benefit plans, net of income tax of ($2,972)	—		—		5,011			—			5,011			—
Issuance of common stock under stock compensation plans, net of tax effect	469,937		—		(4,023		)	—			(4,023		)	—
Issuance of stock under Employee Stock Purchase Plan	40,846		(40,846	)	660			—			660			—
Share-based compensation	—		—		18,880			—			18,880			—
Dividends	—		—		(77,287		)	—			(77,287		)	—
Share repurchases	(2,000,000	)	2,000,000		(44,053		)	—			(44,053		)	—
Noncontrolling interest capital contribution	—		—		—			—			—			871
Noncontrolling interest capital distribution	—		—		—			(4,075		)	(4,075		)	—
Redeemable noncontrolling interest redemption value adjustment	—		—		(420		)	—			(420		)	420
Balance at January 30, 2016	83,833,937		56,195,000		$	1,018,475		$	12,818		$	1,031,293		$	5,252
Net earnings (loss)	—		—		7,091			(78		)	7,013			—
Foreign currency translation adjustment	—		—		28,134			(704		)	27,430			307
Loss on derivative financial instruments designated as cash flow hedges, net of income tax of $2,081	—		—		(7,289		)	—			(7,289		)	—
Loss on marketable securities, net of income tax of $3	—		—		(1		)	—			(1		)	—
Actuarial valuation and prior service credit amortization and foreign currency and other adjustments on defined benefit plans, net of income tax of ($25)	—		—		(4		)	—			(4		)	—
Issuance of common stock under stock compensation plans, net of tax effect	527,729		—		(940		)	—			(940		)	—
Issuance of stock under Employee Stock Purchase Plan	24,882		(24,882	)	342			—			342			—
Share-based compensation	—		—		9,049			—			9,049			—
Dividends	—		—		(38,422		)	—			(38,422		)	—
Purchase of redeemable noncontrolling interest	—		—		(1,133		)	1,133			—			(4,445		)
Noncontrolling interest capital contribution	—		—		—			—			—			2,157
Redeemable noncontrolling interest redemption value adjustment	—		—		(670		)	—			(670		)	670
Balance at July 30, 2016	84,386,548		56,170,118		$	1,014,632		$	13,169		$	1,027,801		$	3,941

Schedule of changes in accumulated other comprehensive income (loss), net of related income taxes

The changes in accumulated other comprehensive income (loss), net of related income taxes, for the three and six months ended July 30, 2016 and August 1, 2015 are as follows (in thousands):



	Three Months Ended Jul 30, 2016
	Foreign Currency Translation Adjustment			Derivative Financial Instruments Designated as Cash Flow Hedges			Marketable Securities			Defined Benefit Plans			Total
Balance at April 30, 2016	$	(115,021	)	$	(3,773	)	$	(14	)	$	(7,728	)	$	(126,536	)
Gains (losses) arising during the period	(14,497		)	4,617			(2		)	26			(9,856		)
Reclassification to net earnings for (gains) losses realized	—			(881		)	—			59			(822		)
Net other comprehensive income (loss)	(14,497		)	3,736			(2		)	85			(10,678		)
Balance at July 30, 2016	$	(129,518	)	$	(37	)	$	(16	)	$	(7,643	)	$	(137,214	)



	Six Months Ended Jul 30, 2016
	Foreign Currency Translation Adjustment			Derivative Financial Instruments Designated as Cash Flow Hedges			Marketable Securities			Defined Benefit Plans			Total
Balance at January 30, 2016	$	(157,652	)	$	7,252		$	(15	)	$	(7,639	)	$	(158,054	)
Gains (losses) arising during the period	28,134			(5,263		)	(1		)	(123		)	22,747
Reclassification to net earnings for (gains) losses realized	—			(2,026		)	—			119			(1,907		)
Net other comprehensive income (loss)	28,134			(7,289		)	(1		)	(4		)	20,840
Balance at July 30, 2016	$	(129,518	)	$	(37	)	$	(16	)	$	(7,643	)	$	(137,214	)



	Three Months Ended Aug 1, 2015
	Foreign Currency Translation Adjustment			Derivative Financial Instruments Designated as Cash Flow Hedges			Marketable Securities			Defined Benefit Plans			Total
Balance at May 2, 2015	$	(121,908	)	$	4,296		$	(7	)	$	(12,344	)	$	(129,963	)
Gains (losses) arising during the period	(20,697		)	4,584			(4		)	7,026			(9,091		)
Reclassification to net earnings for gains realized	—			(3,012		)	—			(738		)	(3,750		)
Net other comprehensive income (loss)	(20,697		)	1,572			(4		)	6,288			(12,841		)
Balance at August 1, 2015	$	(142,605	)	$	5,868		$	(11	)	$	(6,056	)	$	(142,804	)



	Six Months Ended Aug 1, 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	)
Gains (losses) arising during the period	(21,036		)	3,658			(8		)	7,026			(10,360		)
Reclassification to net earnings for gains realized	—			(4,947		)	—			(432		)	(5,379		)
Net other comprehensive income (loss)	(21,036		)	(1,289		)	(8		)	6,594			(15,739		)
Balance at August 1, 2015	$	(142,605	)	$	5,868		$	(11	)	$	(6,056	)	$	(142,804	)

Reclassifications out of accumulated other comprehensive income (loss) to net earnings

Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings during the three and six months ended July 30, 2016 and August 1, 2015 are as follows (in thousands):



	Three Months Ended						Six Months Ended						Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings
	Jul 30, 2016			Aug 1, 2015			Jul 30, 2016			Aug 1, 2015
Derivative financial instruments designated as cash flow hedges:
Foreign exchange currency contracts	$	(1,141	)	$	(3,193	)	$	(2,576	)	$	(4,943	)	Cost of product sales
Foreign exchange currency contracts	(49		)	(330		)	(81		)	(816		)	Other income/expense
Interest rate swap	59			—			110			—			Interest expense
Less income tax effect	250			511			521			812			Income tax expense
	(881		)	(3,012		)	(2,026		)	(4,947		)
Defined benefit plans:
Actuarial loss amortization	85			430			171			943			₍₁₎
Prior service credit amortization	(7		)	(39		)	(14		)	(97		)	₍₁₎
Curtailment	—			(1,651		)	—			(1,651		)	₍₁₎
Less income tax effect	(19		)	522			(38		)	373			Income tax expense
	59			(738		)	119			(432		)
Total reclassifications during the period	$	(822	)	$	(3,750	)	$	(1,907	)	$	(5,379	)

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(1)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic defined benefit pension (credit) cost. Refer to Note 13 for further information.