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Derivatives and Hedging Activities (Tables)
3 Months Ended
Apr. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Open Foreign Currency Contracts
The Company's foreign exchange contracts had the following outstanding balances:
 
 
Balance as of
(in thousands)
 
April 26, 2020
 
January 26, 2020
Foreign Exchange Contracts
 
Number of Instruments
 
Sell Notional Value
 
Buy Notional Value
 
Number of Instruments
 
Sell Notional Value
 
Buy Notional Value
Sell USD/Buy CAD Forward Contract
 
9
 
$
12,851

 
C$
18,000

 
—
 
—

 
—

Sell USD/Buy GBP Forward Contract
 
9
 
$
6,760

 
£
5,400

 
—
 
—

 
—

Total
 
18
 
 
 
 
 
—
 
 
 
 

Summary of the Carrying Values of Derivative Instruments
The fair values of the Company's derivative assets and liabilities that qualify as cash flow hedges in the Balance Sheets were as follows:
 
 
Balance as of
(in thousands)
 
April 26, 2020
 
January 26, 2020
Foreign currency forward contracts
 
$
148

 
$
—

Interest rate swap agreement
 
693

 
—

Total accrued liabilities
 
$
841

 
$
—

 
 
 
 
 
Interest rate swap agreement
 
$
994

 
$
—

Total other long-term liabilities
 
$
994

 
$
—