XML 26 R13.htm IDEA: XBRL DOCUMENT v3.25.2
Stockholders' Equity
 6 Months Ended
Aug. 02, 2025
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Share Repurchase Program
On March 25, 2024, the Board of Directors authorized a $200 million share repurchase program (the “2024 Share Repurchase Program”). Repurchases under the 2024 Share Repurchase Program may be made on the open market or in privately negotiated transactions, pursuant to Rule 10b5-1 trading plans or other available means. There is no minimum or maximum number of shares to be repurchased under the program, and the program may be discontinued at any time without prior notice.
During the three and six months ended August 2, 2025, there were no share repurchases. During the three and six months ended August 3, 2024, the Company repurchased 2.3 million and 2.6 million shares of the Company’s common stock under its 2024 Share Repurchase Program at an aggregate cost of $50.5 million and $60.8 million, respectively, including excise tax. As of August 2, 2025, the Company had remaining authority under the 2024 Share Repurchase Program to purchase approximately $139.8 million of its common stock.
During the pendency of the Proposed Transaction, the Company is prohibited from repurchasing shares of its common stock, including under the 2024 Share Repurchase Program, without the prior written consent of Authentic.
Dividends
The following sets forth the cash dividend declared per share:
Three Months EndedSix Months Ended
Aug 2, 2025Aug 3, 2024Aug 2, 2025Aug 3, 2024
Cash dividend declared per share$0.30 $0.30 $0.60 $2.85 
During the pendency of the Proposed Transaction, the Company is prohibited from declaring dividends on its common stock, other than its regular quarterly dividends of up to $0.225 per share, without the prior written consent of Authentic.
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 stockholders of record as of the close of business on April 17, 2024.
The indenture governing the 2028 Notes requires an adjustment to the conversion rate and the conversion price of the 2028 Notes for quarterly dividends exceeding $0.225 per share. In accordance with the terms of the indentures governing the 2028 Notes, the Company has adjusted the conversion rate and the conversion price of the 2028 Notes for quarterly dividends exceeding $0.225 per share. Corresponding adjustments have been made to the strike prices with respect to the convertible note hedges and the warrants entered into by the Company in connection with the offerings of the 2028 Notes, each of which was decreased in accordance with the terms of the applicable convertible note hedge confirmations and warrant confirmations. Refer to Note 11 - Convertible Senior Notes and Related Transactions for more information.
For each of the periods presented, dividends paid also included the impact from vesting of restricted stock units that are considered non-participating securities and are only entitled to dividend payments once the respective awards vest.
Accumulated Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income (loss) (“AOCL”), net of related income taxes, are (in thousands):
Foreign Currency Translation AdjustmentDerivative Financial Instruments Designated as Cash Flow HedgesDefined Benefit PlansTotal
Three Months Ended Aug 2, 2025
Balance at May 3, 2025$(126,365)$(8,165)$(2,606)$(137,136)
Gains (losses) arising during the period11,287 (3,501)(287)7,499 
Reclassification to net earnings (loss) for gains realized— (623)(2)(625)
Net other comprehensive income (loss)11,287 (4,124)(289)6,874 
Balance at August 2, 2025$(115,078)$(12,289)$(2,895)$(130,262)
Six Months Ended Aug 2, 2025
Balance at February 1, 2025$(164,846)$7,300 $(1,650)$(159,196)
Gains (losses) arising during the period49,768 (18,113)(1,234)30,421 
Reclassification to net earnings (loss) for gains realized— (1,476)(11)(1,487)
Net other comprehensive income (loss)49,768 (19,589)(1,245)28,934 
Balance at August 2, 2025$(115,078)$(12,289)$(2,895)$(130,262)
Foreign Currency Translation AdjustmentDerivative Financial Instruments Designated as Cash Flow HedgesDefined Benefit PlansTotal
Three Months Ended Aug 3, 2024
Balance at May 4, 2024$(139,108)$2,221 $(161)$(137,048)
Gains (losses) arising during the period1,441 (1,832)(282)(673)
Reclassification to net earnings (loss) for (gains) losses realized— 87 (24)63 
Net other comprehensive income (loss)1,441 (1,745)(306)(610)
Balance at August 3, 2024$(137,667)$476 $(467)$(137,658)
Six Months Ended Aug 3, 2024
Balance at February 3, 2024$(136,115)$(544)$(351)$(137,010)
Losses arising during the period(1,552)(687)(49)(2,288)
Reclassification to net earnings for (gains) losses realized— 1,707 (67)1,640 
Net other comprehensive income (loss)(1,552)1,020 (116)(648)
Balance at August 3, 2024$(137,667)$476 $(467)$(137,658)

Details on reclassifications out of AOCL to net earnings (loss) are (in thousands):
Three Months EndedSix Months EndedLocation of (Gain) Loss Reclassified from AOCL into Earnings (Loss)
Aug 2, 2025Aug 3, 2024Aug 2, 2025Aug 3, 2024
Derivative financial instruments designated as cash flow hedges:
Foreign exchange currency contracts$(699)$56 $(1,657)$2,101 Cost of product sales
Interest rate swap— (57)— (212)Interest expense
      Less income tax effect76 88 181 (182)Income tax expense
Subtotal(623)87 (1,476)1,707 
Defined benefit plans:
Net actuarial (gain) loss amortization34 (4)58 (7)Other income (expense), net
Prior service credit amortization(47)(40)(92)(80)Other income (expense), net
      Less income tax effect11 20 23 20 Income tax expense
Subtotal(2)(24)(11)(67)
Total reclassifications to net earnings (loss) for (gains) losses realized during the period$(625)$63 $(1,487)$1,640