XML 50 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivatives and Hedging Activities (Tables)
 6 Months Ended
Jul. 29, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Open Foreign Currency Contracts
At July 29, 2018, 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
 
6
 
$
8,560

 
C$
11,000

Total
 
6
 

 
 
Summary of the Carrying Values of Derivative Instruments
The table below summarizes the carrying values of derivative instruments as of July 29, 2018:
 
 
Carrying Values of Derivative Instruments as of July 29, 2018
(in thousands)
 
Fair Value - Assets (2)
 
Fair Value - (Liabilities) (2)
 
Derivative Net Carrying Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
Foreign exchange contracts (1)
 
$
—

 
$
(126
)
 
$
(126
)
Total derivatives
 
$
—

 
$
(126
)
 
$
(126
)
(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 six months ended July 29, 2018 and July 30, 2017 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 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 or Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Six Months Ended
 
 
Six Months Ended
 
 
Six Months Ended
(in thousands)
July 29, 2018
 
July 30, 2017
 
 
July 29, 2018
 
July 30, 2017
 
 
July 29, 2018
 
July 30, 2017
Sell USD/Buy CAD Forward Contract
$
(158
)
 
$
1,003

 
SG&A
 
$
33

 
$
(90
)
 
SG&A
 
$
—

 
$
(2
)
Sell USD/Buy GBP Forward Contract
—

 
305

 
SG&A
 
—

 
(220
)
 
SG&A
 
—

 
—

 
$
(158
)
 
$
1,308

 
 
 
$
33

 
$
(310
)
 
 
 
$
—

 
$
(2
)
The following table summarizes the amount of income recognized from derivative instruments for the three months ended July 29, 2018 and July 30, 2017 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 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 or 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)
July 29, 2018
 
July 30, 2017
 
 
July 29, 2018
 
July 30, 2017
 
 
July 29, 2018
 
July 30, 2017
Sell USD/Buy CAD Forward Contract
$
(223
)
 
$
1,038

 
SG&A
 
$
34

 
$
(90
)
 
SG&A
 
$
—

 
$
(3
)
Sell USD/Buy GBP Forward Contract
—

 
71

 
SG&A
 
—

 
(161
)
 
SG&A
 
—

 
—

 
$
(223
)
 
$
1,109

 
 
 
$
34

 
$
(251
)
 
 
 
$
—

 
$
(3
)