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Derivative Financial Instruments (Tables) | 9 Months Ended
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Oct. 28, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of fair value of derivative instruments in the condensed consolidated balance sheets | The fair value of derivative instruments in the condensed consolidated balance sheets is (in thousands):
| Fair Value at Oct 28, 2023 |  | Fair Value at Jan 28, 2023 |  | Derivative Balance Sheet Location
ASSETS: |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |
Cash flow hedges: |  |  |  |  |
Foreign exchange currency contracts | $ | 3,358 |  |  | $ | 1,073 |  |  | Other current assets/Other assets
Interest rate swap | 1,128 |  |  | 1,034 |  |  | Other assets
Total derivatives designated as hedging instruments | 4,486 |  |  | 2,107 |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign exchange currency contracts | 1,613 |  |  | 1,146 |  |  | Other current assets
Total | $ | 6,099 |  |  | $ | 3,253 |  |  |
LIABILITIES: |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |
Cash flow hedges: |  |  |  |  |
Foreign exchange currency contracts | $ | 1,204 |  |  | $ | 12,930 |  |  | Accrued expenses/ Other long-term liabilities
Total derivatives designated as hedging instruments | 1,204 |  |  | 12,930 |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign exchange currency contracts | 424 |  |  | 3,774 |  |  | Accrued expenses
Total | $ | 1,628 |  |  | $ | 16,704 |  |  |
Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges | The following summarizes the gains (losses) before income taxes recognized on derivative instruments designated as cash flow hedges in OCI and net earnings (in thousands):
| Gains Recognized in OCI |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings |  | Gains (Losses) Reclassified from Accumulated OCI into Earnings
| Oct 28, 2023 |  | Oct 29, 2022 |  |  |  | Oct 28, 2023 |  | Oct 29, 2022
| Three Months Ended
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 6,443 |  |  | $ | 6,234 |  |  | Cost of product sales |  | $ | (130) |  |  | $ | 4,141 |
Interest rate swap | 176 |  |  | 764 |  |  | Interest expense |  | 158 |  |  | 30 |
| Nine Months Ended
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 7,838 |  |  | $ | 16,358 |  |  | Cost of product sales |  | $ | 6,074 |  |  | $ | 7,013 |
Interest rate swap | 529 |  |  | 1,325 |  |  | Interest expense |  | 434 |  |  | (66) |
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):
| Three Months Ended |  | Nine Months Ended
| Oct 28, 2023 |  | Oct 29, 2022 |  | Oct 28, 2023 |  | Oct 29, 2022
Beginning balance (loss) gain | $ | (5,805) |  |  | $ | 14,240 |  |  | $ | (1,584) |  |  | $ | 7,280 |
Net gains from changes in cash flow hedges | 5,870 |  |  | 6,136 |  |  | 7,383 |  |  | 15,578 |
Net gains reclassified into earnings | (6) |  |  | (3,709) |  |  | (5,740) |  |  | (6,191) |
Ending balance gain | $ | 59 |  |  | $ | 16,667 |  |  | $ | 59 |  |  | $ | 16,667 |
Summary of derivative instruments not designated as hedging instruments | The following summarizes the gains before income taxes recognized on derivative instruments not designated as hedging instruments in other income (expense) (in thousands):
| Location of Gains Recognized in Earnings |  | Gains Recognized in Earnings
|  | Three Months Ended |  | Nine Months Ended
|  | Oct 28, 2023 |  | Oct 29, 2022 |  | Oct 28, 2023 |  | Oct 29, 2022
Foreign exchange currency contracts | Other expense |  | $ | 3,870 |  |  | $ | 1,153 |  |  | $ | 3,410 |  |  | $ | 4,294 |

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