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SHAREHOLDERS' EQUITY

12 Months Ended

Jan. 30, 2021

16. SHAREHOLDERS’ EQUITY

Stock Repurchase Programs

On August 25, 2011, December 14, 2018 and September 2, 2019, the Board of Directors approved stock repurchase programs (“2011 Program”, "2018 Program" and "2019 Program", respectively) authorizing the repurchase of the Company’s outstanding common stock of up to 2.5 million shares in both the 2011 Program and 2018 Program and 5.0 million shares in the 2019 Program. The Company can use the repurchase programs to repurchase shares on the open market or in private transactions from time to time, depending on market conditions. The repurchase programs do not have an expiration date. Repurchases of common stock are limited under the Company’s debt agreements. In total, 2.5 million shares have been repurchased under the 2011 Program and there are no additional shares authorized to be

repurchased. During 2020, the Company repurchased the remaining 553,611 shares under the 2018 Program and 2,348,511 shares under the 2019 Program. There are 2,651,489 shares additional shares authorized to be repurchased under the 2019 Program as of January 30, 2021.

Repurchases Related to Employee Share-based Awards

During 2020, 2019 and 2018, employees tendered 160,101, 100,728 and 145,357 shares, respectively, related to certain share-based awards. These shares were tendered in satisfaction of the exercise price of stock options and/or to satisfy tax withholding amounts for non-qualified stock options, restricted stock and stock performance awards. Accordingly, these share repurchases are not considered a part of the Company’s publicly announced stock repurchase programs.

Accumulated Other Comprehensive Loss

The following table sets forth the changes in accumulated other comprehensive loss, net of tax, by component for 2020, 2019 and 2018:


			Pension and				Accumulated
	Foreign		Other				Other
	Currency		Postretirement		Derivative		Comprehensive
($ thousands)	Translation		Transactions ⁽¹⁾		Transactions ⁽²⁾		(Loss) Income
Balance January 28, 2018	$	1,235	$	(17,172)	$	767	$	(15,170)
Other comprehensive loss before reclassifications		(1,173)		(15,927)		(1,497)		(18,597)
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—		2,754		154		2,908
Tax benefit		—		(710)		(32)		(742)
Net reclassifications		—		2,044		122		2,166
Other comprehensive loss		(1,173)		(13,883)		(1,375)		(16,431)
Balance February 3, 2019	$	62	$	(31,055)	$	(608)	$	(31,601)
Other comprehensive (loss) income before reclassifications		(642)		(3,523)		315		(3,850)
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—		4,590		256		4,846
Tax benefit		—		(1,183)		(55)		(1,238)
Net reclassifications		—		3,407		201		3,608
Other comprehensive (loss) income		(642)		(116)		516		(242)
Balance February 1, 2020	$	(580)		(31,171)		(92)	$	(31,843)
Other comprehensive income before reclassifications		469		20,351		87		20,907
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—		2,418		6		2,424
Tax benefit		—		(623)		(1)		(624)
Net reclassifications		—		1,795		5		1,800
Other comprehensive income		469		22,146		92		22,707
Balance January 30, 2021	$	(111)	$	(9,025)	$	—	$	(9,136)

(1)	Amounts reclassified are included in other income, net. Refer to Note 6 to the consolidated financial statements for additional information related to pension and other postretirement benefits.

(2)	Amounts reclassified are included in net sales, costs of goods sold and selling and administrative expenses. Refer to Note 14 and Note 15 to the consolidated financial statements for additional information related to derivative financial instruments.