Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Jul. 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)	July 30, 2021		July 31, 2020		October 31, 2020
Derivative assets:
Derivatives designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts	$	1,235	$	(645)	$	802
Derivatives not designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts	309		753		131
Total derivative assets	$	1,544	$	108	$	933
Derivative liabilities:
Derivatives designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts	$	3,682	$	5,248	$	2,687
Derivatives not designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts	1,554		849		(203)
Total derivative liabilities	$	5,236	$	6,097	$	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)	July 30, 2021		July 31, 2020		October 31, 2020
Derivative assets:
Forward currency contracts:
Gross amount of derivative assets	$	1,544	$	1,116	$	1,139
Derivative liabilities offsetting derivative assets	—		(1,008)		(206)
Net amount of derivative assets	$	1,544	$	108	$	933
Derivative liabilities:
Forward currency contracts:
Gross amount of derivative liabilities	$	(5,849)	$	(6,465)	$	(3,233)
Derivative assets offsetting derivative liabilities	613		368		749
Net amount of derivative liabilities	$	(5,236)	$	(6,097)	$	(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 nine months ended July 30, 2021 and July 31, 2020:

	Three Months Ended
	Gain (Loss) Reclassified from AOCL into Earnings				Gain (Loss) Recognized in OCI on Derivatives
(Dollars in thousands)	July 30, 2021		July 31, 2020		July 30, 2021		July 31, 2020
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales	$	(3,113)	$	1,795	$	7,350	$	(13,501)
Cost of sales	31		158		685		(1,384)
Total derivatives designated as cash flow hedging instruments	$	(3,082)	$	1,953	$	8,035	$	(14,885)

	Nine Months Ended
	Gain (Loss) Reclassified from AOCL into Earnings				Gain (Loss) Recognized in OCI on Derivatives
(Dollars in thousands)	July 30, 2021		July 31, 2020		July 30, 2021		July 31, 2020
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales	$	(9,325)	$	5,272	$	620	$	(10,396)
Cost of sales	60		698		266		(1,163)
Total derivatives designated as cash flow hedging instruments	$	(9,265)	$	5,970	$	886	$	(11,559)

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)	July 30, 2021				July 31, 2020
Three Months Ended	Net Sales		Cost of Sales		Net Sales		Cost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded	$	976,836	$	(645,719)	$	840,972	$	(546,398)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings	(3,113)		31		1,795		158
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value	$	322	$	70	$	191	$	86

	Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in thousands)	July 30, 2021				July 31, 2020
Nine Months Ended	Net Sales		Cost of Sales		Net Sales		Cost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded	$	2,998,929	$	(1,949,823)	$	2,537,853	$	(1,648,474)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings	(9,325)		60		5,272		698
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value	$	784	$	366	$	3,183	$	231

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 Ended				Nine Months Ended
(Dollars in thousands)	July 30, 2021		July 31, 2020		July 30, 2021		July 31, 2020
Gain (loss) on derivatives not designated as cash flow hedging instruments
Forward currency contracts:
Other income, net	$	1,972	$	(7,093)	$	(4,511)	$	(5,316)
Total gain (loss) on derivatives not designated as cash flow hedging instruments	$	1,972	$	(7,093)	$	(4,511)	$	(5,316)