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Derivative Financial Instruments (Tables)

12 Months Ended

Jan. 29, 2022

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 is as follows (in thousands):

			Fair Value at Jan 29, 2022						Fair Value at Jan 30, 2021						Derivative Balance Sheet Location
ASSETS:
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign exchange currency contracts			$	5,999					$	—					Other current assets/Other assets
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts			1,134						—						Other current assets/Other assets
Total			$	7,133					$	—
LIABILITIES:
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign exchange currency contracts			$	—					$	3,326					Accrued expenses/Other long-term liabilities
Interest rate swaps			74						999						Other long-term liabilities
Total derivatives designated as hedging instruments			74						4,325
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts			—						1,155						Accrued expenses
Total			$	74					$	5,480

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 summarizes the gains (losses) before income taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss) (in thousands):

			Year Ended January 29, 2022
			Gain Recognized in OCI						Loss Reclassified from Accumulated OCI into Earnings						Location of Loss Reclassified from Accumulated OCI into Earnings
Derivatives designated as cash flow hedges:
Foreign exchange currency contracts			$	10,807					$	(2,051)					Cost of product sales
Interest rate swap			653						(272)						Interest expense

			Year Ended January 30, 2021
			Loss Recognized in OCI						Gain (Loss) Reclassified from Accumulated OCI into Loss						Location of Gain (Loss) Reclassified from Accumulated OCI into Loss
Derivatives designated as cash flow hedges:
Foreign exchange currency contracts			$	(5,614)					$	6,298					Cost of product sales
Interest rate swap			(832)						(181)						Interest expense

			Year Ended February 1, 2020
			Gain (Loss) Recognized in OCI						Gain Reclassified from Accumulated OCI into Earnings						Location of Gain Reclassified from Accumulated OCI into Earnings
Derivatives designated as cash flow hedges:
Foreign exchange currency contracts			$	10,557					$	7,776					Cost of product sales
Interest rate swap			(1,253)						128						Interest expense

Summary of net after-tax derivative activity recorded in accumulated other comprehensive income (loss)

The following summarizes net after income tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands):

						Year Ended Jan 29, 2022						Year Ended Jan 30, 2021
Beginning balance gain (loss)						$	(4,876)					$	6,300
Net gains (losses) from changes in cash flow hedges						10,121						(5,709)
Net (gains) losses reclassified to earnings (loss)						2,035						(5,467)
Ending balance gain (loss)						$	7,280					$	(4,876)

Summary of gains (loss) before taxes recognized on the derivative instruments not designated as hedging instruments in other income and expense

The following summarizes the gains (losses) before income taxes recognized on the derivative instruments not designated as hedging instruments in other income (expense) (in thousands):

						Location of Gain (Loss) Recognized in Earnings (Loss)						Gain (Loss) Recognized in Earnings (Loss)
												Year Ended Jan 29, 2022						Year Ended Jan 30, 2021						Year Ended Feb 1, 2020
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts						Other income (expense)						$	1,941					$	(5,117)					$	1,254

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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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

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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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

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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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