XML 70 R51.htm IDEA: XBRL DOCUMENT
v3.19.1

Derivative Financial Instruments (Tables) | 12 Months Ended
--- | ---
Feb. 02, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of fair value of derivative instruments in the consolidated balance sheets | The fair value of derivative instruments in the consolidated balance sheets as of February 2, 2019 and February 3, 2018 is as follows (in thousands):
|  | Derivative Balance Sheet Location |  | Fair Value at Feb 2, 2019 |  | Fair Value at Feb 3, 2018
ASSETS: |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |
Foreign exchange currency contracts |  | Other current assets/ Other assets |  | $ | 4,058 |  |  | $ | 41 |
Interest rate swap |  | Other assets |  | 1,033 |  |  | 1,460 |
Total derivatives designated as hedging instruments |  |  |  | 5,091 |  |  | 1,501 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign exchange currency contracts |  | Other current assets |  | 632 |  |  | 10 |
Total |  |  |  | $ | 5,723 |  |  | $ | 1,511 |
LIABILITIES: |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |
Foreign exchange currency contracts |  | Accrued expenses/ Other long-term liabilities |  | $ | 77 |  |  | $ | 13,789 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign exchange currency contracts |  | Accrued expenses |  | — |  |  | 4,300 |
Total |  |  |  | $ | 77 |  |  | $ | 18,089 |
Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in accumulated other comprehensive income (loss) and net earnings (loss) | The following table summarizes the gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in accumulated other comprehensive income (loss) and net earnings (loss) for fiscal 2019, fiscal 2018 and fiscal 2017 (in thousands):
| Year Ended February 2, 2019
| Gain (Loss) Recognized in OCI |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings1 |  | Gain (Loss) Reclassified from Accumulated OCI into Earnings
Derivatives designated as cash flow hedges: |  |  |  |  |
Foreign exchange currency contracts | $ | 12,973 |  |  | Cost of product sales |  | $ | (7,020 | )
Foreign exchange currency contracts | 2 |  |  | Other income (expense) |  | (201 | )
Interest rate swap | (324 | ) |  | Interest expense |  | 103 |
| Year Ended February 3, 2018
| Gain (Loss) Recognized in OCI |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Loss1 |  | Gain (Loss) Reclassified from Accumulated OCI into Loss |  | Loss Reclassified from Accumulated OCI to Retained Earnings2
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | (22,497 | ) |  | Cost of product sales |  | $ | 14 |  |  | $ | — |
Foreign exchange currency contracts | (1,163 | ) |  | Other income (expense) |  | (583 | ) |  | — |
Interest rate swap | 272 |  |  | Interest expense |  | (87 | ) |  | (225 | )
| Year Ended January 28, 2017
| Gain Recognized in OCI |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings1 |  | Gain (Loss) Reclassified from Accumulated OCI into Earnings
Derivatives designated as cash flow hedges: |  |  |  |  |
Foreign exchange currency contracts | $ | — |  |  | Cost of product sales |  | $ | 3,518 |
Foreign exchange currency contracts | 227 |  |  | Other income (expense) |  | 301 |
Interest rate swap | 660 |  |  | Interest expense |  | (216 | )
________________________________________________________________________
1 | The Company recognized gains of $3.5 million, $2.7 million and $0.9 million resulting from the ineffective portion related to foreign exchange currency contracts in interest income during fiscal 2019, fiscal 2018 and fiscal 2017, respectively. There was no ineffectiveness recognized related to the interest rate swap during fiscal 2019, fiscal 2018, or fiscal 2017.
2 | During the fourth quarter of fiscal 2018, the Company early adopted authoritative guidance which addresses certain stranded income tax effects in accumulated other comprehensive loss resulting from the Tax Reform enacted in December 2017. As a result, the Company recorded a cumulative adjustment to reduce retained earnings by $0.2 million with a corresponding increase to accumulated other comprehensive income (loss) related to the Company’s interest rate swap designated as a cash flow hedge.
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):
| Year Ended Feb 2, 2019 |  | Year Ended Feb 3, 2018
Beginning balance gain (loss) | $ | (14,369 | ) |  | $ | 5,400 |
Net gains (losses) from changes in cash flow hedges | 10,962 |  |  | (20,408 | )
Net losses reclassified to earnings (loss) | 6,406 |  |  | 414 |
Net losses reclassified to retained earnings1 | — |  |  | 225 |
Ending balance gain (loss) | $ | 2,999 |  |  | $ | (14,369 | )
______________________________________________________________________
1 | During the fourth quarter of fiscal 2018, the Company early adopted authoritative guidance which addresses certain stranded income tax effects in accumulated other comprehensive loss resulting from the Tax Reform enacted in December 2017. As a result, the Company recorded a cumulative adjustment to reduce retained earnings by $0.2 million with a corresponding increase to accumulated other comprehensive income (loss) related to the Company’s interest rate swap designated as a cash flow hedge
Summary of gains (loss) before taxes recognized on the derivative instruments not designated as hedging instruments in other income and 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 fiscal 2019, fiscal 2018 and fiscal 2017 (in thousands):
|  | Location of Gain (Loss) Recognized in Earnings (Loss) |  | Gain (Loss) Recognized in Earnings (Loss)
|  |  | Year Ended Feb 2, 2019 |  | Year Ended Feb 3, 2018 |  | Year Ended Jan 28, 2017
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | Other income (expense) |  | $ | 6,785 |  |  | $ | (10,511 | ) |  | $ | 2,427 |
Interest rate swap |  | Other income (expense) |  | — |  |  | — |  |  | 38 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration