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Stockholders' Equity | 12 Months Ended
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Feb. 01, 2020
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders’ Equity Dividends The following table sets forth the cash dividend declared per share for the years ended February 1, 2020, February 2, 2019 and February 3, 2018:
| Year Ended |  | Year Ended |  | Year Ended
| Feb 1, 2020 |  | Feb 2, 2019 |  | Feb 3, 2018
Cash dividend declared per share | $ | 0.5625 |  |  | $ | 0.9000 |  |  | $ | 0.9000 |
During the first quarter of fiscal 2020, the Company announced that its Board of Directors reduced the future quarterly cash dividends that may be paid to holders of the Company’s common stock, when, as and if any such dividend is declared by the Company’s Board of Directors, from $0.225 per share to $0.1125 per share to redeploy capital and return incremental value to shareholders through share repurchases. On March 18, 2020, the Company announced that, in light of uncertainty surrounding the COVID-19 pandemic, it had decided to postpone its decision related to the potential declaration of a quarterly cash dividend for the first quarter of fiscal 2021. Decisions on whether, when and in what amounts to continue making any future dividend distributions will remain at all times entirely at the discretion of the Company’s Board of Directors, which reserves the right to change or terminate the Company’s dividend practices at any time and for any reason without prior notice. The payment of cash dividends in the future will be based upon a number of business, legal and other considerations, including our cash flow from operations, capital expenditures, debt service and covenant requirements, cash paid for income taxes, earnings, share repurchases, economic conditions and U.S. and global liquidity. Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss), net of related income taxes, for fiscal 2020, fiscal 2019 and fiscal 2018 are as follows (in thousands):
| Foreign Currency Translation Adjustment |  | Derivative Financial Instruments Designated as Cash Flow Hedges |  | Defined Benefit Plans |  | Total
Balance at January 28, 2017 | $ | (158,227 | ) |  | $ | 5,400 |  |  | $ | (8,562 | ) |  | $ | (161,389 | )
Gains (losses) arising during the period | 91,178 |  |  | (20,408 | ) |  | (1,999 | ) |  | 68,771 |
Reclassification to net loss for losses realized | — |  |  | 414 |  |  | 352 |  |  | 766 |
Net other comprehensive income (loss) | 91,178 |  |  | (19,994 | ) |  | (1,647 | ) |  | 69,537 |
Cumulative adjustment reclassified to retained earnings from adoption of new accounting guidance 1 | — |  |  | 225 |  |  | (1,435 | ) |  | (1,210 | )
Balance at February 3, 2018 | $ | (67,049 | ) |  | $ | (14,369 | ) |  | $ | (11,644 | ) |  | $ | (93,062 | )
Gains (losses) arising during the period | (52,497 | ) |  | 10,962 |  |  | 1,516 |  |  | (40,019 | )
Reclassification to net earnings for losses realized | — |  |  | 6,406 |  |  | 496 |  |  | 6,902 |
Net other comprehensive income (loss) | (52,497 | ) |  | 17,368 |  |  | 2,012 |  |  | (33,117 | )
Balance at February 2, 2019 | $ | (119,546 | ) |  | $ | 2,999 |  |  | $ | (9,632 | ) |  | $ | (126,179 | )
Gains (losses) arising during the period | (17,743 | ) |  | 8,316 |  |  | 342 |  |  | (9,085 | )
Reclassification to net earnings for (gains) losses realized | — |  |  | (6,996 | ) |  | 369 |  |  | (6,627 | )
Net other comprehensive income (loss) | (17,743 | ) |  | 1,320 |  |  | 711 |  |  | (15,712 | )
Cumulative adjustment reclassified from retained earnings due to adoption of new accounting guidance 2 | — |  |  | 1,981 |  |  | — |  |  | 1,981 |
Balance at February 1, 2020 | $ | (137,289 | ) |  | $ | 6,300 |  |  | $ | (8,921 | ) |  | $ | (139,910 | )
______________________________________________________________________
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 increase retained earnings by $1.2 million with a corresponding reduction to accumulated other comprehensive loss related to the Company’s Supplemental Executive Retirement Plan and its interest rate swap designated as a cash flow hedge based in the U.S.
2 | 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 year ended February 1, 2020. 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.
Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss) during fiscal 2020, fiscal 2019 and fiscal 2018 are as follows (in thousands):
|  |  |  |  |  |  | Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings (Loss)
| Year Ended Feb 1, 2020 |  | Year Ended Feb 2, 2019 |  | Year Ended Feb 3, 2018 |
Derivative financial instruments designated as cash flow hedges: |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | (7,776 | ) |  | $ | 7,020 |  |  | $ | (14 | ) |  | Cost of product sales
Foreign exchange currency contracts | — |  |  | 201 |  |  | 583 |  |  | Other income (expense)
Interest rate swap | (128 | ) |  | (103 | ) |  | 87 |  |  | Interest expense
Less income tax effect | 908 |  |  | (712 | ) |  | (242 | ) |  | Income tax expense
| (6,996 | ) |  | 6,406 |  |  | 414 |  |  |
Defined benefit plans: |  |  |  |  |  |  |
Net actuarial loss amortization | 446 |  |  | 600 |  |  | 462 |  |  | Other income (expense)1
Prior service credit amortization | (39 | ) |  | (28 | ) |  | (27 | ) |  | Other income (expense)1
Less income tax effect | (38 | ) |  | (76 | ) |  | (83 | ) |  | Income tax expense
| 369 |  |  | 496 |  |  | 352 |  |  |
Total reclassifications to net earnings (loss) for (gains) losses realized during the period | $ | (6,627 | ) |  | $ | 6,902 |  |  | $ | 766 |  |  |
______________________________________________________________________ 1 During fiscal 2019, in accordance with the adoption of the guidance related to the presentation of net periodic pension costs, reclassification of these items are now included in other income (expense).

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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