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Derivative Financial Instruments (Tables) | 3 Months Ended
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May 03, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule 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 May 3, 2025 |  | Fair Value at Feb 1, 2025 |  | Derivative Balance Sheet Location |  |
ASSETS: |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 15 |  |  | $ | 7,456 |  |  | Other current assets/Other assets |  |
Total derivatives designated as hedging instruments | 15 |  |  | 7,456 |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange currency contracts | — |  |  | 3,011 |  |  | Other current assets |  |
2028 Bond Hedge | 5,809 |  |  | 11,252 |  |  | Other assets |  |
Total derivatives not designated as hedging instruments | 5,809 |  |  | 14,263 |  |  |  |  |
Total | $ | 5,824 |  |  | $ | 21,719 |  |  |  |  |
LIABILITIES: |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | 10,486 |  |  | $ | — |  |  | Accrued expenses/Other long-term liabilities |  |
Total derivatives designated as hedging instruments | 10,486 |  |  | — |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange currency contracts | 4,772 |  |  | 8 |  |  | Accrued expenses and other current liabilities |  |
Embedded derivative | 1,270 |  |  | 2,460 |  |  | Convertible senior notes due 2028, net |  |
Total derivatives not designated as hedging instruments | 6,042 |  |  | 2,468 |  |  |  |  |
Total | $ | 16,528 |  |  | $ | 2,468 |  |  |  |  |
Schedule 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 other comprehensive income (loss) (“OCL”) and net earnings (loss) (in thousands):
| Gain (Loss) Recognized in OCL |  | Gain (Loss) Reclassified from AOCL into Earnings (Loss) |  | Location of Gain (Loss) Reclassified from AOCL into Earnings (Loss)
| May 3, 2025 |  | May 4, 2024 |  | May 3, 2025 |  | May 4, 2024 |
| Three Months Ended
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts | $ | (16,418) |  |  | $ | 1,171 |  |  | $ | 958 |  |  | $ | (2,045) |  |  | Cost of product sales
Interest rate swap | $ | — |  |  | $ | 193 |  |  | $ | — |  |  | $ | 155 |  |  | Interest expense
Schedule of Net After-tax Derivative Activity Recorded in Accumulated Other Comprehensive Income (Loss) | The following summarizes net after income tax derivative activity recorded in AOCL (in thousands):
| Three Months Ended |  |
| May 3, 2025 |  | May 4, 2024 |  |  |  |
Beginning balance gain (loss) | $ | 7,300 |  |  | $ | (544) |  |  |  |  |
Net gain (loss) from changes in cash flow hedges | (14,612) |  |  | 1,145 |  |  |  |  |
Net (gain) loss reclassified into earnings (loss) | (853) |  |  | 1,620 |  |  |  |  |
Ending balance gain (loss) | $ | (8,165) |  |  | $ | 2,221 |  |  |  |  |
Schedule of Derivative Instruments Not Designated as Hedging Instruments | The following summarizes the gains (losses) before income taxes recognized on 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) |  |  |  |
|  | Three Months Ended |  |
|  | May 3, 2025 |  | May 4, 2024 |  |  |  |
Foreign exchange currency contracts | Other income, net |  | $ | (7,821) |  |  | $ | 521 |  |  |  |  |
2028 Bond Hedge | Other income, net |  | $ | (5,443) |  |  | $ | 45,813 |  |  |  |  |
Embedded derivatives | Other income, net |  | $ | 1,190 |  |  | $ | (7,302) |  |  |  |  |

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