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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Oct. 28, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Open Foreign Currency Contracts
At October 28, 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
 
3
 
$
4,284

 
C$
5,500

Sell USD/Buy GBP Forward Contract
 
11
 
$
7,792

 
£
6,000

Total
 
14
 

 
 
Summary of the Carrying Values of Derivative Instruments
The table below summarizes the carrying values of derivative instruments as of October 28, 2018:
 
 
Carrying Values of Derivative Instruments as of October 28, 2018
(in thousands)
 
Fair Value - Assets (2)
 
Fair Value - (Liabilities) (2)
 
Derivative Net Carrying Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
Foreign exchange contracts (1)
 
$
—

 
$
(120
)
 
$
(120
)
Total derivatives
 
$
—

 
$
(120
)
 
$
(120
)
(1) Assets are included in "Other current assets" and liabilities are included in "Accrued liabilities" in 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 nine months ended October 28, 2018 and October 29, 2017 as well as the line items in 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)
 
Nine Months Ended
 
 
Nine Months Ended
 
 
Nine Months Ended
(in thousands)
October 28, 2018
 
October 29, 2017
 
 
October 28, 2018
 
October 29, 2017
 
 
October 28, 2018
 
October 29, 2017
Sell USD/Buy CAD Forward Contract
$
(149
)
 
$
819

 
SG&A
 
$
73

 
$
(532
)
 
SG&A
 
$
1

 
$
(4
)
Sell USD/Buy GBP Forward Contract
1

 
296

 
SG&A
 
(21
)
 
(428
)
 
SG&A
 
—

 
—

 
$
(148
)
 
$
1,115

 
 
 
$
52

 
$
(960
)
 
 
 
$
1

 
$
(4
)
The following table summarizes the amount of income recognized from derivative instruments for the three months ended October 28, 2018 and October 29, 2017 as well as the line items in 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)
October 28, 2018
 
October 29, 2017
 
 
October 28, 2018
 
October 29, 2017
 
 
October 28, 2018
 
October 29, 2017
Sell USD/Buy CAD Forward Contract
$
9

 
$
(184
)
 
SG&A
 
$
41

 
$
(442
)
 
SG&A
 
$
1

 
$
(1
)
Sell USD/Buy GBP Forward Contract
1

 
(9
)
 
SG&A
 
(21
)
 
(208
)
 
SG&A
 
—

 
—

 
$
10

 
$
(193
)
 
 
 
$
20

 
$
(650
)
 
 
 
$
1

 
$
(1
)