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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Apr. 29, 2022
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 29, 2022April 30, 2021October 31, 2021
Derivative assets:   
Derivatives designated as cash flow hedging instruments:   
Prepaid expenses and other current assets   
Forward currency contracts$14,274 $1,452 $189 
Derivatives not designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts4,729 245 133 
Total derivative assets$19,003 $1,697 $322 
Derivative liabilities:
Derivatives designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts$— $13,923 $1,260 
Derivatives not designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts73 4,100 872 
Total derivative liabilities$73 $18,023 $2,132 
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 29, 2022April 30, 2021October 31, 2021
Derivative assets:
Forward currency contracts:
Gross amount of derivative assets$19,325 $1,697 $423 
Derivative liabilities offsetting derivative assets(322)— (101)
Net amount of derivative assets$19,003 $1,697 $322 
Derivative liabilities:
Forward currency contracts:
Gross amount of derivative liabilities$(73)$(18,111)$(4,853)
Derivative assets offsetting derivative liabilities— 88 2,721 
Net amount of derivative liabilities$(73)$(18,023)$(2,132)
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Designated as Cash Flow Hedging Instruments
The following table presents the impact and location of the amounts reclassified from AOCL into net earnings on the Condensed Consolidated Statements of Earnings and the impact of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the company's derivatives designated as cash flow hedging instruments for the three and six months ended April 29, 2022 and April 30, 2021:
Three Months Ended
Gain (Loss) Reclassified from AOCL into EarningsGain Recognized in OCI on Derivatives
(Dollars in thousands)April 29, 2022April 30, 2021April 29, 2022April 30, 2021
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales$(91)$(4,115)$6,658 $964 
Cost of sales115 (70)541 197 
Total derivatives designated as cash flow hedging instruments$24 $(4,185)$7,199 $1,161 
Six Months Ended
Gain (Loss) Reclassified from AOCL into EarningsGain (Loss) Recognized in OCI on Derivatives
(Dollars in thousands)April 29, 2022April 30, 2021April 29, 2022April 30, 2021
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales$(209)$(6,212)$12,328 $(6,730)
Cost of sales(36)29 1,243 (419)
Total derivatives designated as cash flow hedging instruments$(245)$(6,183)$13,571 $(7,149)
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 29, 2022April 30, 2021
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$1,249,478 $(844,109)$1,149,107 $(746,154)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings(91)115 (4,115)(70)
Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value$(650)$456 $300 $111 
Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in thousands)April 29, 2022April 30, 2021
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$2,182,128 $(1,476,283)$2,022,093 $(1,304,104)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings(209)(36)(6,212)29 
Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value$(1,576)$553 $462 $296 
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 29, 2022April 30, 2021April 29, 2022April 30, 2021
Gain (loss) on derivatives not designated as cash flow hedging instruments
Forward currency contracts:
Other income, net$2,741 $(3,005)$3,983 $(6,483)
Total gain (loss) on derivatives not designated as cash flow hedging instruments$2,741 $(3,005)$3,983 $(6,483)