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Stockholders' Equity | 12 Months Ended
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Feb. 01, 2025
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity Dividends The following sets forth the cash dividend declared per share:
| Year Ended
| Feb 1, 2025 |  | Feb 3, 2024 |  | Jan 28, 2023
Cash dividend declared per share | $ | 3.450 |  |  | $ | 1.125 |  |  | $ | 0.900 |
The 2024 Indenture required an adjustment to the conversion rate and the conversion price of the 2024 Notes for dividends exceeding $0.1125 per share. The 2028 Indenture requires an adjustment to the conversion rate and the conversion price of the 2028 Notes for dividends exceeding $0.225 per share. On May 24, 2023, the Company announced an increase to its regular quarterly cash dividend from $0.225 to $0.30 per share on the Company’s common stock. On March 20, 2024, the Company announced a special cash dividend of $2.25 per share on the Company’s common stock in addition to the quarterly cash dividend of $0.30 per share. The dividends were paid on May 3, 2024 to shareholders of record as of the close of business on April 17, 2024. In accordance with the terms of the 2028 Indenture, the Company has adjusted the conversion rate and the conversion price of the 2028 Notes for quarterly dividends exceeding $0.225 per share. Corresponding adjustments have been made to the strike prices with respect to the convertible note hedges and the warrants entered into by the Company in connection with the offerings of the 2028 Notes, each of which was decreased in accordance with the terms of the applicable convertible note hedge confirmations and warrant confirmations. Refer to Note 11 - Convertible Senior Notes and Related Transactions for more information. See also Note 24 - Subsequent Events for information regarding the impact of the quarterly dividend announced in April 2025, and payable on May 2, 2025 to shareholders of record as of the close of business on April 16, 2025, on the conversation rate and conversion price of the 2028 Notes and the strike prices with respect to the corresponding convertible note hedges and warrants. 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, in its sole discretion, 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 changes in the Company’s financial position, capital allocation plans (including a desire to retain or accumulate cash), capital spending plans, stock purchase plans, acquisition strategies, strategic initiatives, debt payment plans (including a desire to maintain or improve credit ratings on the Company’s debt securities), debt covenant requirements, pension funding or other benefit payments. Accumulated Other Comprehensive Income (Loss) The changes in AOCL, 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 January 29, 2022 | $ | (135,861) |  |  | $ | 7,280 |  |  | $ | (6,968) |  |  | $ | (135,549) |
Gains arising during the year | 6,693 |  |  | 47 |  |  | 3,177 |  |  | 9,917 |
Reclassification to net earnings for (gains) losses realized | — |  |  | (8,911) |  |  | 470 |  |  | (8,441) |
Net OCL | 6,693 |  |  | (8,864) |  |  | 3,647 |  |  | 1,476 |
Balance at January 28, 2023 | $ | (129,168) |  |  | $ | (1,584) |  |  | $ | (3,321) |  |  | $ | (134,073) |
Gains (losses) arising during the year | (6,947) |  |  | 5,451 |  |  | 2,883 |  |  | 1,387 |
Reclassification to net earnings for (gains) losses realized | — |  |  | (4,411) |  |  | 87 |  |  | (4,324) |
Net OCL | (6,947) |  |  | 1,040 |  |  | 2,970 |  |  | (2,937) |
Balance at February 3, 2024 | $ | (136,115) |  |  | $ | (544) |  |  | $ | (351) |  |  | $ | (137,010) |
Gains (losses) arising during the year | (28,731) |  |  | 6,853 |  |  | (1,166) |  |  | (23,044) |
Reclassification to net earnings for (gains) losses realized | — |  |  | 991 |  |  | (133) |  |  | 858 |
Net OCL | (28,731) |  |  | 7,844 |  |  | (1,299) |  |  | (22,186) |
Balance at February 1, 2025 | $ | (164,846) |  |  | $ | 7,300 |  |  | $ | (1,650) |  |  | $ | (159,196) |
Details on reclassifications out of AOCL to net earnings are as follows (in thousands):
| Year Ended |  | Location of (Gain) Loss Reclassified from AOCL into Earnings
| Feb 1, 2025 |  | Feb 3, 2024 |  | Jan 28, 2023 |
Derivative financial instruments designated as cash flow hedges: |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 1,297 |  |  | $ | (4,392) |  |  | $ | (9,988) |  |  | Cost of product sales
Interest rate swap | (212) |  |  | (647) |  |  | (28) |  |  | Interest expense
Less income tax effect | (94) |  |  | 628 |  |  | 1,105 |  |  | Income tax expense
Subtotal | 991 |  |  | (4,411) |  |  | (8,911) |  |  |
Defined benefit plans: |  |  |  |  |  |  |
Net actuarial loss amortization | (12) |  |  | 256 |  |  | 615 |  |  | Other expense
Prior service credit amortization | (161) |  |  | (160) |  |  | (90) |  |  | Other expense
Less income tax effect | 40 |  |  | (9) |  |  | (55) |  |  | Income tax expense
Subtotal | (133) |  |  | 87 |  |  | 470 |  |  |
Total reclassifications to net earnings for (gains) losses realized during the year | $ | 858 |  |  | $ | (4,324) |  |  | $ | (8,441) |  |  |

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