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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jul. 29, 2017
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 July 29, 2017 and January 28, 2017 is as follows (in thousands):
|  | Derivative Balance Sheet Location |  | Fair Value at Jul 29, 2017 |  | Fair Value at Jan 28, 2017
ASSETS: |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |
Foreign exchange currency contracts |  | Other current assets/ Other assets |  | $ | 31 |  |  | $ | 6,072 |
Interest rate swap |  | Other assets |  | 643 |  |  | 876 |
Total derivatives designated as hedging instruments |  |  |  | 674 |  |  | 6,948 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Other current assets/ Other assets |  | 13 |  |  | 3,796 |
Total |  |  |  | $ | 687 |  |  | $ | 10,744 |
LIABILITIES: |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |
Foreign exchange currency contracts |  | Accrued expenses/ Other long-term liabilities |  | $ | 9,620 |  |  | $ | 1,250 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Accrued expenses |  | 4,423 |  |  | 174 |
Total |  |  |  | $ | 14,043 |  |  | $ | 1,424 |
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 and six months ended July 29, 2017 and July 30, 2016 (in thousands):
| Gain (Loss) 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
| Jul 29, 2017 |  | Jul 30, 2016 |  |  | Jul 29, 2017 |  | Jul 30, 2016
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | (14,673 | ) |  | $ | 5,762 |  |  | Cost of product sales |  | $ | 661 |  |  | $ | 1,141 |
Foreign exchange currency contracts | $ | (785 | ) |  | $ | 343 |  |  | Other income/expense |  | $ | 14 |  |  | $ | 49 |
Interest rate swap | $ | (77 | ) |  | $ | (685 | ) |  | Interest expense |  | $ | (26 | ) |  | $ | (59 | )
| 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)
| Six Months Ended |  |  | Six Months Ended
| Jul 29, 2017 |  | Jul 30, 2016 |  |  | Jul 29, 2017 |  | Jul 30, 2016
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | (13,816 | ) |  | $ | (5,650 | ) |  | Cost of product sales |  | $ | 1,279 |  |  | $ | 2,576 |
Foreign exchange currency contracts | $ | (996 | ) |  | $ | (356 | ) |  | Other income/expense |  | $ | 93 |  |  | $ | 81 |
Interest rate swap | $ | (277 | ) |  | $ | (817 | ) |  | Interest expense |  | $ | (62 | ) |  | $ | (110 | )
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(1) | The Company recognized gains of $0.9 million and $1.5 million resulting from the ineffective portion related to foreign exchange currency contracts in interest income during the three and six months ended July 29, 2017, respectively. The Company recognized gains of $0.1 million and $0.5 million resulting from the ineffective portion related to foreign exchange currency contracts in interest income during the three and six months ended July 30, 2016, respectively. There was no ineffectiveness recognized related to the interest rate swap during the three and six months ended July 29, 2017 and July 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 |  | Six Months Ended
| Jul 29, 2017 |  | Jul 30, 2016 |  | Jul 29, 2017 |  | Jul 30, 2016
Beginning balance gain (loss) | $ | 4,948 |  |  | $ | (3,773 | ) |  | $ | 5,400 |  |  | $ | 7,252 |
Net gains (losses) from changes in cash flow hedges | (13,093 | ) |  | 4,617 |  |  | (12,969 | ) |  | (5,263 | )
Net gains reclassified to earnings (loss) | (606 | ) |  | (881 | ) |  | (1,182 | ) |  | (2,026 | )
Ending balance loss | $ | (8,751 | ) |  | $ | (37 | ) |  | $ | (8,751 | ) |  | $ | (37 | )
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 and six months ended July 29, 2017 and July 30, 2016 (in thousands):
|  | Location of Gain (Loss) Recognized in Earnings (Loss) |  | Gain (Loss) Recognized in Earnings |  | Gain (Loss) Recognized in Earnings (Loss)
|  |  | Three Months Ended |  | Six Months Ended
|  |  | Jul 29, 2017 |  | Jul 30, 2016 |  | Jul 29, 2017 |  | Jul 30, 2016
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Other income/expense |  | $ | (6,540 | ) |  | $ | 2,885 |  |  | $ | (7,333 | ) |  | $ | (3,144 | )
Interest rate swap |  | Other income/expense |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 38 |

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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=64837297&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=64837297&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=64837297&loc=SL5618551-113959 + Details
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