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Derivative Financial Instruments

12 Months Ended

Jan. 31, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

NOTE 7 – DERIVATIVE FINANCIAL INSTRUMENTS

As of January 31, 2019, the Company’s entire net forward contracts hedging portfolio consisted of 33 million Swiss francs equivalent, 8.3 million Euros equivalent and 0.4 million British Pounds equivalent with various expiry dates ranging through July 10, 2019.

The following table summarizes the fair value and presentation in the Consolidated Balance Sheets for derivatives as of January 31, 2019 and 2018 (in thousands):

		Asset Derivatives										Liability Derivatives
		Balance Sheet Location		2019 Fair Value				2018 Fair Value				Balance Sheet Location		2019 Fair Value				2018 Fair Value
Derivatives not designated as hedging    instruments:
Foreign Exchange Contracts		Other Current Assets		$	22			$	544			Accrued Liabilities		$	156			$	2
Total Derivative Instruments				$	22			$	544					$	156			$	2

		Asset Derivatives										Liability Derivatives
		Balance Sheet Location		2019 Fair Value				2018 Fair Value				Balance Sheet Location		2019 Fair Value				2018 Fair Value
Derivatives designated as hedging instruments:
Foreign Exchange Contracts		Other Current Assets		$	—			$	—			Accrued Liabilities		$	—			$	44
Total Derivative Instruments				$	—			$	—					$	—			$	44

As of January 31, 2019, and 2018, the balance of deferred net gains on derivative financial instruments documented as cash flow hedges included in accumulated other comprehensive income (“AOCI”) were immaterial for both periods, respectively. The maximum length of time the Company hedges its exposure to the fluctuation in future cash flows for forecasted transactions is 12 months. For the fiscal year ended January 31, 2019, the Company reclassified from AOCI to earnings $0.4 million of net gain, net of tax of $0.1million. For the fiscal year ended January 31, 2018, the Company reclassified from AOCI to earnings $0.9 million of net losses, net of tax benefit of $0.2 million. No ineffectiveness has been recorded in fiscal years 2019 and 2018, respectively.

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- References

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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

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