DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

May 03, 2020

Foreign Currency Forward Contracts Outstanding with Notional Values

As of May 3, 2020 and May 5, 2019, we had foreign currency forward contracts outstanding (in U.S. dollars) with notional values as follows:

In thousands	May 3, 2020		May 5, 2019
Contracts designated as cash flow hedges	$	11,600	$	10,800
Contracts not designated as cash flow hedges	$	—	$	—

Effect of Derivative Instruments in Consolidated Financial Statements

The effect of derivative instruments in our Condensed Consolidated Financial Statements during the thirteen weeks ended May 3, 2020 and May 5, 2019, pre-tax, was as follows:

In thousands	May 3, 2020		May 5, 2019
Net gain recognized in OCI	$	745	$	278

	May 3, 2020				May 5, 2019
In thousands	Cost of goods sold		Selling, general and administrative expenses		Cost of goods sold		Selling, general and  administrative  expenses
Line items presented in the Condensed Consolidated Statement of Earnings in which the effects of derivatives are recorded	$	820,943	$	365,615	$	796,801	$	370,199
Gain (loss) recognized in income
Derivatives designated as cash flow hedges	$	50	$	—	$	108	$	—
Derivatives not designated as hedging instruments	$	—	$	2	$	—	$	(6	)

Fair Values of Derivative Instruments

The fair values of our derivative financial instruments are presented below according to their classification in our Condensed Consolidated Balance Sheets. All fair values were measured using Level 2 inputs as defined by the fair value hierarchy described in Note I.

In thousands	May 3, 2020		May 5, 2019
Derivatives designated as cash flow hedges:
Other current assets	$	698	$	475