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Stockholders' Equity (Tables) | 6 Months Ended
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Aug. 03, 2019
Equity [Abstract] |
Dividends declared | The following table sets forth the cash dividend declared per share for the three and six months ended August 3, 2019 and August 4, 2018:
| Three Months Ended |  | Six Months Ended
| Aug 3, 2019 |  | Aug 4, 2018 |  | Aug 3, 2019 |  | Aug 4, 2018
Cash dividend declared per share | $ | 0.1125 |  |  | $ | 0.2250 |  |  | $ | 0.3375 |  |  | $ | 0.4500 |
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 August 3, 2019 and August 4, 2018 are as follows (in thousands):
| Three Months Ended Aug 3, 2019
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at May 4, 2019 | $ | (131,923 | ) |  | $ | 8,663 |  |  | $ | (9,446 | ) |  | $ | (132,706 | )
Gains (losses) arising during the period | (4,841 | ) |  | 1,978 |  |  | (151 | ) |  | (3,014 | )
Reclassification to net earnings for (gains) losses realized | — |  |  | (1,572 | ) |  | 90 |  |  | (1,482 | )
Net other comprehensive income (loss) | (4,841 | ) |  | 406 |  |  | (61 | ) |  | (4,496 | )
Balance at August 3, 2019 | $ | (136,764 | ) |  | $ | 9,069 |  |  | $ | (9,507 | ) |  | $ | (137,202 | )
| Six Months Ended Aug 3, 2019
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at February 2, 2019 | $ | (119,546 | ) |  | $ | 2,999 |  |  | $ | (9,632 | ) |  | $ | (126,179 | )
Cumulative adjustment reclassified from retained earnings due to adoption of new accounting guidance1 | — |  |  | 1,981 |  |  | — |  |  | 1,981 |
Gains (losses) arising during the period | (17,218 | ) |  | 5,842 |  |  | (55 | ) |  | (11,431 | )
Reclassification to net earnings for (gains) losses realized | — |  |  | (1,753 | ) |  | 180 |  |  | (1,573 | )
Net other comprehensive income (loss) | (17,218 | ) |  | 4,089 |  |  | 125 |  |  | (13,004 | )
Balance at August 3, 2019 | $ | (136,764 | ) |  | $ | 9,069 |  |  | $ | (9,507 | ) |  | $ | (137,202 | )
______________________________________________________________________ Notes:
1 | During the first quarter of fiscal 2020, the Company adopted new authoritative guidance which eliminated the requirement to separately measure and report ineffectiveness for instruments that qualify for hedge accounting and generally requires that the entire change in the fair value of such instruments ultimately be presented in the same line as the respective hedge item. As a result, there is no interest component recognized for the ineffective portion of instruments that qualify for hedge accounting, but rather all changes in the fair value of such instruments are included in other comprehensive income (loss) during the three and six months ended August 3, 2019. Upon adoption of this guidance, the Company reclassified approximately $2.0 million in gains from retained earnings to accumulated other comprehensive loss related to the previously recorded interest component on outstanding instruments that qualified for hedge accounting.
| Three Months Ended Aug 4, 2018
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at May 5, 2018 | $ | (91,297 | ) |  | $ | (6,285 | ) |  | $ | (11,208 | ) |  | $ | (108,790 | )
Gains (losses) arising during the period | (23,464 | ) |  | 4,111 |  |  | (34 | ) |  | (19,387 | )
Reclassification to net earnings for losses realized | — |  |  | 2,032 |  |  | 125 |  |  | 2,157 |
Net other comprehensive income (loss) | (23,464 | ) |  | 6,143 |  |  | 91 |  |  | (17,230 | )
Balance at August 4, 2018 | $ | (114,761 | ) |  | $ | (142 | ) |  | $ | (11,117 | ) |  | $ | (126,020 | )
| Six Months Ended Aug 4, 2018
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at February 3, 2018 | $ | (67,049 | ) |  | $ | (14,369 | ) |  | $ | (11,644 | ) |  | $ | (93,062 | )
Gains (losses) arising during the period | (47,712 | ) |  | 10,579 |  |  | 277 |  |  | (36,856 | )
Reclassification to net earnings for losses realized | — |  |  | 3,648 |  |  | 250 |  |  | 3,898 |
Net other comprehensive income (loss) | (47,712 | ) |  | 14,227 |  |  | 527 |  |  | (32,958 | )
Balance at August 4, 2018 | $ | (114,761 | ) |  | $ | (142 | ) |  | $ | (11,117 | ) |  | $ | (126,020 | )
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 August 3, 2019 and August 4, 2018 are as follows (in thousands):
| Three Months Ended |  | Six Months Ended |  | Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings
| Aug 3, 2019 |  | Aug 4, 2018 |  | Aug 3, 2019 |  | Aug 4, 2018 |
Derivative financial instruments designated as cash flow hedges: |  |
Foreign exchange currency contracts | $ | (1,757 | ) |  | $ | 2,342 |  |  | $ | (1,987 | ) |  | $ | 4,028 |  |  | Cost of product sales
Foreign exchange currency contracts | — |  |  | — |  |  | — |  |  | 201 |  |  | Other income (expense)
Interest rate swap | (44 | ) |  | (31 | ) |  | (90 | ) |  | (39 | ) |  | Interest expense
Less income tax effect | 229 |  |  | (279 | ) |  | 324 |  |  | (542 | ) |  | Income tax expense
| (1,572 | ) |  | 2,032 |  |  | (1,753 | ) |  | 3,648 |  |  |
Defined benefit plans: |  |  |  |  |  |  |  |  |
Net actuarial loss amortization | 111 |  |  | 151 |  |  | 222 |  |  | 303 |  |  | Other income (expense)
Prior service credit amortization | (9 | ) |  | (7 | ) |  | (19 | ) |  | (14 | ) |  | Other income (expense)
Less income tax effect | (12 | ) |  | (19 | ) |  | (23 | ) |  | (39 | ) |  | Income tax expense
| 90 |  |  | 125 |  |  | 180 |  |  | 250 |  |  |
Total reclassifications during the period | $ | (1,482 | ) |  | $ | 2,157 |  |  | $ | (1,573 | ) |  | $ | 3,898 |  |  |

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