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Derivatives (Tables)
 12 Months Ended
Feb. 01, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Fair Value and Presentation of Derivative Instruments
The following table summarizes the fair value and presentation of derivative instruments in the consolidated balance sheets:
 
Fair value of derivative assets
(in millions)
Balance sheet location
 
February 1, 2020
 
February 2, 2019
Derivatives designated as hedging instruments:
 
 
 
 
 
Foreign currency contracts
Other current assets
 
$
—

 
$
0.1

Commodity contracts
Other current assets
 
11.8

 
4.3

Commodity contracts
Other assets
 
—

 
1.4

Interest rate swaps
Other assets
 
—

 
0.6

 
 
 
11.8

 
6.4

Derivatives not designated as hedging instruments:
 
 
 
 
 
Foreign currency contracts
Other current assets
 
0.6

 
0.8

Total derivative assets
 
 
$
12.4

 
$
7.2

 
Fair value of derivative liabilities
(in millions)
Balance sheet location
 
February 1, 2020
 
February 2, 2019
Derivatives designated as hedging instruments:
 
 
 
 
 
Foreign currency contracts
Other current liabilities
 
$
(0.8
)
 
$
(0.2
)
Derivatives not designated as hedging instruments:
 
 
 
 
 
Foreign currency contracts
Other current liabilities
 
(0.1
)
 
—

Total derivative liabilities
 
 
$
(0.9
)
 
$
(0.2
)
Summary of Pre-Tax Gains (Losses) Recorded
The following table summarizes the pre-tax gains (losses) recorded in AOCI for derivatives designated in cash flow hedging relationships:
(in millions)
February 1, 2020
 
February 2, 2019
Foreign currency contracts
$
(1.0
)
 
$
0.7

Commodity contracts
17.7

 
4.0

Interest rate swaps
—

 
0.6

Gains recorded in AOCI
$
16.7

 
$
5.3
Summary of Derivative Instruments
The following table presents the effects of the Company’s derivatives instruments not designated as cash flow hedges in the consolidated statements of operations:
 
Statement of operations caption
 
Amount of gains (losses) recognized in net income
(in millions)
 
 
Fiscal 2020
 
Fiscal 2019
Derivatives not designated as hedging instruments:
 
 
 
 
 
Foreign currency contracts
Other operating income (loss)
 
$
(3.1
)
 
$
(14.4
)

The following tables summarize the effect of derivative instruments designated as cash flow hedges in OCI and the consolidated statements of operations:
Foreign currency contracts
(in millions)
Statement of operations caption
 
Fiscal 2020
 
Fiscal 2019
Gains (losses) recorded in AOCI, beginning of period
 
 
$
0.7

 
$
(2.4
)
Current period gains (losses) recognized in OCI
 
 
(0.6
)
 
2.4

(Gains) losses reclassified from AOCI to net income
Cost of sales(1)
 
(1.1
)
 
0.7

Gains (losses) recorded in AOCI, end of period
 
 
$
(1.0
)
 
$
0.7

Commodity contracts
(in millions)
Statement of operations caption
 
Fiscal 2020
 
Fiscal 2019
Gains recorded in AOCI, beginning of period
 
 
$
4.0

 
$
1.4

Current period gains recognized in OCI
 
 
15.4

 
3.5

Gains reclassified from AOCI to net income
Cost of sales(1)
 
(1.7
)
 
(0.9
)
Gains recorded in AOCI, end of period
 
 
$
17.7

 
$
4.0


Interest rate swaps
(in millions)
Statement of operations caption
 
Fiscal 2020
 
Fiscal 2019
Gains recorded in AOCI, beginning of period
 
 
$
0.6

 
$
2.2

Current period gains recognized in OCI
 
 
—

 
0.3

Gains reclassified from AOCI to net income
Interest expense, net(1)
 
(0.6
)
 
(1.9
)
Gains recorded in AOCI, end of period
 
 
$
—

 
$
0.6


(1) 
Refer to table below for total amounts of financial statement captions impacted by cash flow hedges.
Total amounts presented in the consolidated statements of operations
(in millions)
Fiscal 2020
 
Fiscal 2019
Cost of sales
$
(3,904.2
)
 
$
(4,024.1
)
Interest expense, net
$
(35.6
)
 
$
(39.7
)