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Derivative Financial Instruments | 6 Months Ended
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Jul. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | NOTE 11 – DERIVATIVE FINANCIAL INSTRUMENTS As of July 31, 2018, the Company’s entire net forward contracts hedging portfolio consisted of 30.0 million Swiss francs equivalent, 11.5 million Euros equivalent and 0.8 million British Pounds equivalent, with various expiry dates ranging through January 1, 2019. The following table summarizes the fair value and presentation in the Consolidated Balance Sheets for derivatives (in thousands):
|  | Asset Derivatives |  |  | Liability Derivatives |
|  | Balance Sheet Location |  | July 31, 2018 Fair Value |  |  | January 31, 2018 Fair Value |  |  | July 31, 2017 Fair Value |  |  | Balance Sheet Location |  | July 31, 2018 Fair Value |  |  | January 31, 2018 Fair Value |  |  | July 31, 2017 Fair Value |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Exchange Contracts |  | Other Current Assets |  | $ | — |  |  | $ | 544 |  |  | $ | 402 |  |  | Accrued Liabilities |  | $ | 481 |  |  | $ | 2 |  |  | $ | 25 |
Total Derivative Instruments |  |  |  | $ | — |  |  | $ | 544 |  |  | $ | 402 |  |  |  |  | $ | 481 |  |  | $ | 2 |  |  | $ | 25 |
|  | Asset Derivatives |  |  | Liability Derivatives |
|  | Balance Sheet Location |  | July 31, 2018 Fair Value |  |  | January 31, 2018 Fair Value |  |  | July 31, 2017 Fair Value |  |  | Balance Sheet Location |  | July 31, 2018 Fair Value |  |  | January 31, 2018 Fair Value |  |  | July 31, 2017 Fair Value |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Exchange Contracts |  | Other Current Assets |  | $ | 161 |  |  | $ | — |  |  | $ | — |  |  | Accrued Liabilities |  | $ | — |  |  | $ | 44 |  |  | $ | 464 |
Total Derivative Instruments |  |  |  | $ | 161 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 44 |  |  | $ | 464 |
As of July 31, 2018 and 2017, the balance of deferred net gains on derivative financial instruments documented as cash flow hedges included in accumulated other comprehensive income (“AOCI”) was $0.1 and $0.4 million, net of tax benefit of an immaterial amount and $0.1 million, respectively. The maximum length of time the Company hedges its exposure to the fluctuation in future cash flows for forecasted transactions is 24 months. For the three and six months ended July 31, 2018, the Company reclassified from AOCI to earnings $0.3 million of net gain, net of tax benefit of $0.1 for both periods, respectively. For the three and six months ended July 31, 2017, the Company reclassified from AOCI to earnings $0.4 million of net loss, net of tax benefit of $0.1 million, for both periods, respectively.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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