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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Oct. 29, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Open Foreign Currency Contracts
At October 29, 2017, the Company had the following outstanding foreign exchange contracts:
(in thousands)
 
 
 
 
 
 
Foreign Exchange Contracts
 
Number of Instruments
 
Sell Notional Value
 
Buy Notional Value
Sell USD/Buy CAD Forward Contract
 
3
 
$
4,976

 
C$
6,750

Sell USD/Buy GBP Forward Contract
 
3
 
$
2,762

 
£
2,250

Total
 
6
 

 
 
Summary of the Carrying Values of Derivative Instruments
The table below summarizes the carrying values of derivative instruments as of October 29, 2017 and January 29, 2017:
 
 
Carrying Values of Derivative Instruments as of October 29, 2017
(in thousands)
 
Fair Value - Assets (2)
 
Fair Value - (Liabilities) (2)
 
Derivative Net Carrying Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
Foreign exchange contracts (1)
 
$
482

 
$
—

 
$
482

Total derivatives
 
$
482

 
$
—

 
$
482

 
 
 
 
 
 
 
 
 
Carrying Values of Derivative Instruments as of January 29, 2017
 
 
Fair Value - Assets (2)
 
Fair Value - (Liabilities) (2)
 
Derivative Net Carrying Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
Foreign exchange contracts (1)
 
$
326

 
$
—

 
$
326

Total derivatives
 
$
326

 
$
—

 
$
326

(1)
Assets are included in "Other current assets" and liabilities are included in "Accrued liabilities" within the Balance Sheets.
(2)
The fair values of the foreign exchange forward contracts are valued using Level 2 inputs. Please refer to Note 6.
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 29, 2017 and October 30, 2016 as well as the line items within the accompanying 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 29, 2017
 
October 30, 2016
 
 
October 29, 2017
 
October 30, 2016
 
 
October 29, 2017
 
October 30, 2016
Sell USD/Buy CHF Forward Contract
$
—

 
$
(85
)
 
SG&A
 
$
—

 
$
(24
)
 
SG&A
 
$
—

 
$
(1
)
Sell USD/Buy CAD Forward Contract
(184
)
 
(141
)
 
SG&A
 
(442
)
 
(334
)
 
SG&A
 
(1
)
 
—

Sell USD/Buy GBP Forward Contract
(9
)
 
(196
)
 
SG&A
 
(208
)
 
270

 
SG&A
 
—

 
(2
)
 
$
(193
)
 
$
(422
)
 
 
 
$
(650
)
 
$
(88
)
 
 
 
$
(1
)
 
$
(3
)

The following table summarizes the amount of income recognized from derivative instruments for the nine months ended October 29, 2017 and October 30, 2016 as well as the line items within the accompanying 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 29, 2017
 
October 30, 2016
 
 
October 29, 2017
 
October 30, 2016
 
 
October 29, 2017
 
October 30, 2016
Sell USD/Buy CHF Forward Contract
$
—

 
$
51

 
SG&A
 
$
—

 
$
(72
)
 
SG&A
 
$
—

 
$
—

Sell USD/Buy CAD Forward Contract
819

 
1,113

 
SG&A
 
(532
)
 
(909
)
 
SG&A
 
(4
)
 
5

Sell USD/Buy GBP Forward Contract
296

 
(843
)
 
SG&A
 
(428
)
 
435

 
SG&A
 
—

 
(3
)
 
$
1,115

 
$
321

 
 
 
$
(960
)
 
$
(546
)
 
 
 
$
(4
)
 
$
2