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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Apr. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivatives and Consolidated Balance Sheet Location
The following table presents the fair value and location of the company’s derivative instruments on the Condensed Consolidated Balance Sheets:
(Dollars in thousands)April 30, 2021May 1, 2020October 31, 2020
Derivative assets:   
Derivatives designated as cash flow hedging instruments:   
Prepaid expenses and other current assets   
Forward currency contracts$1,452 $13,303 $802 
Derivatives not designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts245 7,270 131 
Total derivative assets$1,697 $20,573 $933 
Derivative liabilities:
Derivatives designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts$13,923 $— $2,687 
Derivatives not designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts4,100 259 (203)
Total derivative liabilities$18,023 $259 $2,484 
Schedule of Effects of Master Netting Arrangements on Fair Value of Derivative Contracts Recorded in Consolidated Balance Sheets
The following table presents the effects of the master netting arrangements on the fair value of the company’s derivative instruments that are recorded on the Condensed Consolidated Balance Sheets:
(Dollars in thousands)April 30, 2021May 1, 2020October 31, 2020
Derivative assets:
Forward currency contracts:
Gross amount of derivative assets$1,697 $20,662 $1,139 
Derivative liabilities offsetting derivative assets— (89)(206)
Net amount of derivative assets$1,697 $20,573 $933 
Derivative liabilities:
Forward currency contracts:
Gross amount of derivative liabilities$(18,111)$(259)$(3,233)
Derivative assets offsetting derivative liabilities88 — 749 
Net amount of derivative liabilities$(18,023)$(259)$(2,484)
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Designated as Cash Flow Hedging Instruments
The following tables present the impact and location of the amounts reclassified from AOCL into net earnings on the Condensed Consolidated Statements of Earnings and the impact of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the company's derivatives designated as cash flow hedging instruments for the three and six months ended April 30, 2021 and May 1, 2020:
Three Months Ended
Gain (Loss) Reclassified from AOCL into EarningsGain Recognized in OCI on Derivatives
(Dollars in thousands)April 30, 2021May 1, 2020April 30, 2021May 1, 2020
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales$(4,115)$2,272 $964 $2,521 
Cost of sales(70)208 197 153 
Total derivatives designated as cash flow hedging instruments$(4,185)$2,480 $1,161 $2,674 
Six Months Ended
Gain (Loss) Reclassified from AOCL into EarningsGain (Loss) Recognized in OCI on Derivatives
(Dollars in thousands)April 30, 2021May 1, 2020April 30, 2021May 1, 2020
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales$(6,212)$3,477 $(6,730)$3,105 
Cost of sales29 540 (419)221 
Total derivatives designated as cash flow hedging instruments$(6,183)$4,017 $(7,149)$3,326 
The following tables present the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives designated as cash flow hedging instruments and the related components excluded from effectiveness testing:
Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in thousands)April 30, 2021May 1, 2020
Three Months EndedNet SalesCost of SalesNet SalesCost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded$1,149,107 $(746,154)$929,398 $(622,681)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings(4,115)(70)2,272 208 
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value$300 $111 $2,332 $134 
Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in thousands)April 30, 2021May 1, 2020
Six Months EndedNet SalesCost of SalesNet SalesCost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded$2,022,093 $(1,304,104)$1,696,881 $(1,102,076)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings(6,212)29 3,477 540 
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value$462 $296 $2,992 $145 
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Not Designated as Hedging Instruments
The following table presents the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives not designated as cash flow hedging instruments:
 Three Months EndedSix Months Ended
(Dollars in thousands)April 30, 2021May 1, 2020April 30, 2021May 1, 2020
Gain (loss) on derivatives not designated as cash flow hedging instruments
Forward currency contracts:
Other income, net$(3,005)$1,557 $(6,483)$1,777 
Total gain (loss) on derivatives not designated as cash flow hedging instruments$(3,005)$1,557 $(6,483)$1,777