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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Oct. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Open Foreign Currency Contracts
At October 30, 2016, the Company had the following outstanding foreign exchange contracts:
(in thousands)
 
 
 
 
 
 
Foreign Exchange Contracts
 
Number of Instruments
 
Buy Notional Value
 
Sell Notional Value
Sell USD/Buy CHF Forward Contract
 
3
 
Fr.
2,672

 
$
2,732

Sell USD/Buy CAD Forward Contract
 
3
 
C$
6,337

 
$
4,532

Sell USD/Buy GBP Forward Contract
 
15
 
£
10,744

 
$
13,568

Total
 
21
 

 
 
Summary of the Carrying Values of Derivative Instruments
The table below summarizes the carrying values of derivative instruments as of October 30, 2016 and January 31, 2016:
 
 
Carrying Values of Derivative Instruments as of October 30, 2016
(in thousands)
 
Fair Value - Assets (2)
 
Fair Value - (Liabilities) (2)
 
Derivative Net Carrying Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
Foreign exchange contracts (1)
 
$
215

 
$
(445
)
 
$
(230
)
Total derivatives
 
$
215

 
$
(445
)
 
$
(230
)
 
 
 
 
 
 
 
 
 
Carrying Values of Derivative Instruments as of January 31, 2016
 
 
Fair Value - Assets (2)
 
Fair Value - (Liabilities) (2)
 
Derivative Net Carrying Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
Foreign exchange contracts (1)
 
$
—

 
$
—

 
$
—

Total derivatives
 
$
—

 
$
—

 
$
—

(1)
Assets are included in “Other current assets” and liabilities are included in “Accrued liabilities” within the condensed consolidated balance sheets.
(2)
The fair values of the foreign exchange forward contracts are valued using Level 2 inputs. Please refer to Note 7.
Summary of Gain (Loss) Recognized From Derivative Instruments
The following table summarizes the amount of income recognized from derivative instruments for the three months ended October 30, 2016 and October 25, 2015 as well as the line items within the accompanying unaudited condensed consolidated statements of income where the results are recorded for cash flow hedges:
 
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)
 
 Location of Gain or Loss into Income (Effective Portion)
 
Amount of (Gain) Loss Reclassified from AOCI into Income (Effective Portion)
 
Location of Gain or Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Three Months Ended
 
 
Three Months Ended
 
 
Three Months Ended
(in thousands)
October 30, 2016
 
October 25, 2015
 
 
October 30, 2016
 
October 25, 2015
 
 
October 30, 2016
 
October 25, 2015
Sell USD/Buy CHF Forward Contract
$
(85
)
 
$
—

 
SG&A
 
$
(24
)
 
$
—

 
SG&A
 
$
(1
)
 
$
—

Sell USD/Buy CAD Forward Contract
(141
)
 
—

 
SG&A
 
(334
)
 
—

 
SG&A
 
—

 
—

Sell USD/Buy GBP Forward Contract
(196
)
 
—

 
SG&A
 
270

 
—

 
SG&A
 
(2
)
 
—

 
$
(422
)
 
$
—

 
 
 
$
(88
)
 
$
—

 
 
 
$
(3
)
 
$
—


The following table summarizes the amount of income recognized from derivative instruments for the nine months ended October 30, 2016 and October 25, 2015 as well as the line items within the accompanying unaudited condensed consolidated statements of income where the results are recorded for cash flow hedges:
 
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)
 
 Location of Gain or Loss into Income (Effective Portion)
 
Amount of (Gain) Loss Reclassified from AOCI into Income (Effective Portion)
 
Location of Gain or Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Nine Months Ended
 
 
Nine Months Ended
 
 
Nine Months Ended
(in thousands)
October 30, 2016
 
October 25, 2015
 
 
October 30, 2016
 
October 25, 2015
 
 
October 30, 2016
 
October 25, 2015
Sell USD/Buy CHF Forward Contract
$
51

 
$
—

 
SG&A
 
$
(72
)
 
$
—

 
SG&A
 
$
—

 
$
—

Sell USD/Buy CAD Forward Contract
1,113

 
—

 
SG&A
 
(909
)
 
—

 
SG&A
 
5

 
—

Sell USD/Buy GBP Forward Contract
(843
)
 
—

 
SG&A
 
435

 
—

 
SG&A
 
(3
)
 
—

 
$
321

 
$
—

 
 
 
$
(546
)
 
$
—

 
 
 
$
2

 
$
—