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Stockholders' Equity and Redeemable Noncontrolling Interests
 9 Months Ended
Nov. 01, 2014
Stockholders' Equity and Redeemable Noncontrolling Interests [Abstract]  
Stockholders' Equity and Redeemable Noncontrolling Interests
Stockholders’ Equity and Redeemable Noncontrolling Interests
A reconciliation of the total carrying amount of total stockholders’ equity, Guess?, Inc. stockholders’ equity and stockholders’ equity attributable to nonredeemable and redeemable noncontrolling interests for the fiscal year ended February 1, 2014 and nine months ended November 1, 2014 is as follows (in thousands):
 
Stockholders’ Equity
 
 
 
Guess?, Inc.
Stockholders’
Equity
 
Nonredeemable
Noncontrolling
Interests
 
Total
 
Redeemable
Noncontrolling
Interests
Balance at February 2, 2013
$
1,086,992

 
$
13,876

 
$
1,100,868

 
$
3,144

Net earnings
153,434

 
4,277

 
157,711

 
—

Foreign currency translation adjustment
(17,621
)
 
(804
)
 
(18,425
)
 
(104
)
Gain on derivative financial instruments designated as cash flow hedges, net of income tax of ($237)
1,669

 
—

 
1,669

 
—

Loss on marketable securities, net of income tax of $4
(7
)
 
—

 
(7
)
 
—

SERP plan amendment, prior service cost amortization and actuarial valuation gain (loss) and related amortization, net of income tax of ($2,963)
4,619

 
—

 
4,619

 
—

Issuance of common stock under stock compensation plans, net of tax effect
2,404

 
—

 
2,404

 
—

Issuance of stock under Employee Stock Purchase Plan
980

 
—

 
980

 
—

Share-based compensation
13,949

 
—

 
13,949

 
—

Dividends
(68,215
)
 
—

 
(68,215
)
 
—

Share repurchases
(22,099
)
 
—

 
(22,099
)
 
—

Noncontrolling interest capital contribution
—

 
—

 
—

 
1,199

Noncontrolling interest capital distribution
—

 
(1,877
)
 
(1,877
)
 
—

Redeemable noncontrolling interest redemption value adjustment
(1,591
)
 
—

 
(1,591
)
 
1,591

Balance at February 1, 2014
$
1,154,514

 
$
15,472

 
$
1,169,986

 
$
5,830

Net earnings
40,641

 
954

 
41,595

 
—

Foreign currency translation adjustment
(44,196
)
 
(362
)
 
(44,558
)
 
(330
)
Gain on derivative financial instruments designated as cash flow hedges, net of income tax of ($162)
4,997

 
—

 
4,997

 
—

Loss on marketable securities, net of income tax of $63
(103
)
 
—

 
(103
)
 
—

SERP prior service credit and actuarial valuation amortization, net of income tax of ($202)
327

 
—

 
327

 
—

Issuance of common stock under stock compensation plans, net of tax effect
(385
)
 
—

 
(385
)
 
—

Issuance of stock under Employee Stock Purchase Plan
826

 
—

 
826

 
—

Share-based compensation
11,374

 
—

 
11,374

 
—

Dividends
(57,725
)
 
—

 
(57,725
)
 
—

Redeemable noncontrolling interest redemption value adjustment
605

 
—

 
605

 
(605
)
Balance at November 1, 2014
$
1,110,875

 
$
16,064

 
$
1,126,939

 
$
4,895


Accumulated Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income (loss), net of related income taxes, for the three and nine months ended November 1, 2014 and November 2, 2013 are as follows (in thousands):
 
Three Months Ended Nov 1, 2014
 
Foreign Currency Translation Adjustment
 
Derivative Financial Instruments Designated as Cash Flow Hedges
 
Marketable Securities
 
SERP
 
Total
Balance at August 2, 2014
$
(4,578
)
 
$
366

 
$
8

 
$
(6,570
)
 
$
(10,774
)
Gains (losses) arising during the period
(46,621
)
 
3,805

 
(8
)
 
—

 
(42,824
)
Reclassification to net earnings for losses realized
—

 
713

 
—

 
109

 
822

Net other comprehensive income (loss)
(46,621
)
 
4,518

 
(8
)
 
109

 
(42,002
)
Balance at November 1, 2014
$
(51,199
)
 
$
4,884

 
$
—

 
$
(6,461
)
 
$
(52,776
)
 
Nine Months Ended Nov 1, 2014
 
Foreign Currency Translation Adjustment
 
Derivative Financial Instruments Designated as Cash Flow Hedges
 
Marketable Securities
 
SERP
 
Total
Balance at February 1, 2014
$
(7,003
)
 
$
(113
)
 
$
103

 
$
(6,788
)
 
$
(13,801
)
Gains (losses) arising during the period
(44,196
)
 
3,099

 
(49
)
 
—

 
(41,146
)
Reclassification to net earnings for (gains) losses realized
—

 
1,898

 
(54
)
 
327

 
2,171

Net other comprehensive income (loss)
(44,196
)
 
4,997

 
(103
)
 
327

 
(38,975
)
Balance at November 1, 2014
$
(51,199
)
 
$
4,884

 
$
—

 
$
(6,461
)
 
$
(52,776
)

 
Three Months Ended Nov 2, 2013
 
Foreign Currency Translation Adjustment
 
Derivative Financial Instruments Designated as Cash Flow Hedges
 
Marketable Securities
 
SERP
 
Total
Balance at August 3, 2013
$
(11,197
)
 
$
1,558

 
$
88

 
$
(8,076
)
 
$
(17,627
)
Gains (losses) arising during the period
11,726

 
(657
)
 
25

 
—

 
11,094

Reclassification to net earnings for (gains) losses realized
180

 
(1,086
)
 
—

 
135

 
(771
)
Net other comprehensive income (loss)
11,906

 
(1,743
)
 
25

 
135

 
10,323

Balance at November 2, 2013
$
709

 
$
(185
)
 
$
113

 
$
(7,941
)
 
$
(7,304
)
 
Nine Months Ended Nov 2, 2013
 
Foreign Currency Translation Adjustment
 
Derivative Financial Instruments Designated as Cash Flow Hedges
 
Marketable Securities
 
SERP
 
Total
Balance at February 2, 2013
$
10,618

 
$
(1,782
)
 
$
110

 
$
(11,407
)
 
$
(2,461
)
Gains (losses) arising during the period
(10,089
)
 
3,495

 
3

 
2,796

 
(3,795
)
Reclassification to net earnings for (gains) losses realized
180

 
(1,898
)
 
—

 
670

 
(1,048
)
Net other comprehensive income (loss)
(9,909
)
 
1,597

 
3

 
3,466

 
(4,843
)
Balance at November 2, 2013
$
709

 
$
(185
)
 
$
113

 
$
(7,941
)
 
$
(7,304
)

Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings during the three and nine months ended November 1, 2014 and November 2, 2013 are as follows (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
Location of
(Gain) Loss
Reclassified from
Accumulated OCI
into Earnings 
 
Nov 1, 2014
 
Nov 2, 2013
 
Nov 1, 2014
 
Nov 2, 2013
 
Foreign currency translation adjustment:
 
 
 
 
 
 
 
 
 
   Liquidation of investment in a foreign entity
$
—

 
$
180

 
$
—

 
$
180

 
Restructuring charges
 
—

 
180

 
—

 
180

 
 
Derivative financial instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
 
   Foreign exchange currency contracts
800

 
(1,344
)
 
1,559

 
(2,216
)
 
Cost of sales
   Foreign exchange currency contracts
—

 
(4
)
 
56

 
(98
)
 
Other income/expense
      Less income tax effect
(87
)
 
262

 
283

 
416

 
Income tax expense
 
713

 
(1,086
)
 
1,898

 
(1,898
)
 
 
Marketable securities:
 
 
 
 
 
 
 
 
 
   Available-for-sale securities
—

 
—

 
(87
)
 
—

 
Other income/expense
      Less income tax effect
—

 
—

 
33

 
—

 
Income tax expense
 
—

 
—

 
(54
)
 
—

 
 
SERP:
 
 
 
 
 
 
 
 
 
   Actuarial loss amortization
234

 
277

 
703

 
831

 
(1) 
   Prior service (credit) cost amortization
(58
)
 
(58
)
 
(174
)
 
253

 
(1) 
      Less income tax effect
(67
)
 
(84
)
 
(202
)
 
(414
)
 
Income tax expense
 
109

 
135

 
327

 
670

 
 
Total reclassifications during the period
$
822

 
$
(771
)
 
$
2,171

 
$
(1,048
)
 
 
__________________________________
(1)
These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. Refer to Note 13 for further information.
Redeemable Noncontrolling Interests
The Company is party to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest from the acquisition of its majority-owned subsidiary, Guess Sud SAS (“Guess Sud”). The put arrangement for Guess Sud, representing 40% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the noncontrolling interest holders by providing written notice to the Company any time after January 30, 2012. The put arrangement is recorded on the balance sheet at its expected redemption value based on a method which approximates fair value and classified as a redeemable noncontrolling interest outside of permanent equity. The redemption value of the Guess Sud redeemable put arrangement was $3.8 million and $4.7 million at November 1, 2014 and February 1, 2014, respectively.
During fiscal 2014, the Company entered into a majority-owned joint venture to establish Guess Brasil Comércio e Distribuição S.A. (“Guess Brazil”). The Company funded $1.8 million to obtain a 60% interest in Guess Brazil and is subject to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest. The put arrangement may be exercised at the discretion of the noncontrolling interest holder by providing written notice to the Company beginning in fiscal 2020, or sooner in certain limited circumstances, and every third anniversary thereafter subject to certain time restrictions. The redemption value of the Guess Brazil put arrangement is based on a multiple of Guess Brazil’s earnings before interest, taxes, depreciation and amortization subject to certain adjustments. The redemption value of the Guess Brazil redeemable put arrangement was $1.1 million at November 1, 2014 and February 1, 2014.