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Stockholders' Equity | 12 Months Ended
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Jan. 29, 2022
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders’ Equity Dividends The following sets forth the cash dividend declared per share:
|  |  | Year Ended |  | Year Ended |  | Year Ended
|  |  |  |  | Jan 29, 2022 |  | Jan 30, 2021 |  | Feb 1, 2020
Cash dividend declared per share |  |  |  |  | $ | 0.5625 |  |  | $ | 0.2250 |  |  | $ | 0.5625 |
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, 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. During the first quarter of fiscal 2021, the Company announced that its Board of Directors had deferred the decision with respect to the payment of its quarterly cash dividend. The Board of Directors decided to continue to postpone its decision with respect to the payment of its quarterly cash dividend during the second quarter of fiscal 2021 in order to preserve the Company’s cash position and provide continued financial flexibility in light of the uncertainties related to the COVID-19 pandemic. The Company announced that it would resume paying its quarterly cash dividend of $0.1125 per share beginning in the third quarter of fiscal 2021, but decided to not declare any cash dividends for the first and second quarters of fiscal 2021. On November 23, 2021, the Company announced an increase to its regular quarterly cash dividend from $0.1125 to $0.225 per share on the Company’s common stock. In connection with the increase to the quarterly cash dividend, the Company adjusted the conversion rate and the conversion price of the convertible senior notes in accordance with the terms of the indenture governing the convertible senior notes, effective as of December 7, 2021. For each of the periods presented, dividends paid also included the impact from vesting of restricted stock units that are considered non-participating securities and are only entitled to dividend payments once the respective awards vest. 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, are (in thousands):
| 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) |
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 to retained earnings from adoption of new accounting guidance 1 | — |  |  | 1,981 |  |  | — |  |  | 1,981 |
Balance at February 1, 2020 | $ | (137,289) |  |  | $ | 6,300 |  |  | $ | (8,921) |  |  | $ | (139,910) |
Gains (losses) arising during the period | 31,319 |  |  | (5,709) |  |  | (1,203) |  |  | 24,407 |
Reclassification to net loss for (gains) losses realized | — |  |  | (5,467) |  |  | 295 |  |  | (5,172) |
Net other comprehensive income (loss) | 31,319 |  |  | (11,176) |  |  | (908) |  |  | 19,235 |
Balance at January 30, 2021 | $ | (105,970) |  |  | $ | (4,876) |  |  | $ | (9,829) |  |  | $ | (120,675) |
Gains (losses) arising during the period | (29,891) |  |  | 10,121 |  |  | 2,550 |  |  | (17,220) |
Reclassification to net earnings for losses realized | — |  |  | 2,035 |  |  | 311 |  |  | 2,346 |
Net other comprehensive income (loss) | (29,891) |  |  | 12,156 |  |  | 2,861 |  |  | (14,874) |
Balance at January 29, 2022 | $ | (135,861) |  |  | $ | 7,280 |  |  | $ | (6,968) |  |  | $ | (135,549) |
______________________________________________________________________ 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) beginning with fiscal 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) are as follows (in thousands):
|  |  |  |  |  |  | Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings (Loss)
| Year Ended Jan 29, 2022 |  | Year Ended Jan 30, 2021 |  | Year Ended Feb 1, 2020 |
Derivative financial instruments designated as cash flow hedges: |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 2,051 |  |  | $ | (6,298) |  |  | $ | (7,776) |  |  | Cost of product sales
Interest rate swap | 272 |  |  | 181 |  |  | (128) |  |  | Interest expense
Less income tax effect | (288) |  |  | 650 |  |  | 908 |  |  | Income tax expense (benefit)
| 2,035 |  |  | (5,467) |  |  | (6,996) |  |  |
Defined benefit plans: |  |  |  |  |  |  |
Net actuarial loss amortization | 420 |  |  | 397 |  |  | 446 |  |  | Other income (expense)
Prior service credit amortization | (67) |  |  | (66) |  |  | (39) |  |  | Other income (expense)
Less income tax effect | (42) |  |  | (36) |  |  | (38) |  |  | Income tax expense (benefit)
| 311 |  |  | 295 |  |  | 369 |  |  |
Total reclassifications to net earnings (loss) for (gains) losses realized during the period | $ | 2,346 |  |  | $ | (5,172) |  |  | $ | (6,627) |  |  |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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