Stockholders' Equity (Tables)

9 Months Ended

Oct. 31, 2020

Schedule of cash dividend declared per share

The following table sets forth the cash dividend declared per share for the three and nine months ended October 31, 2020 and November 2, 2019:


	Three Months Ended				Nine Months Ended
	Oct 31, 2020		Nov 2, 2019		Oct 31, 2020		Nov 2, 2019
Cash dividend declared per share	$	0.1125	$	0.1125	$	0.1125	$	0.4500

Schedule of changes in accumulated other comprehensive income (loss), net of related income taxes

The changes in accumulated other comprehensive income (loss), net of related income taxes, for the three and nine months ended October 31, 2020 and November 2, 2019 are as follows (in thousands):


	Three Months Ended Oct 31, 2020
	Foreign Currency Translation Adjustment		Derivative Financial Instruments Designated as Cash Flow Hedges		Defined Benefit Plans		Total
Balance at August 1, 2020	$	(121,119)	$	(1,499)	$	(8,991)	$	(131,609)
Gains (losses) arising during the period	(2,209)		1,286		(2)		(925)
Reclassification to net earnings for (gains) losses realized	—		(1,553)		74		(1,479)
Net other comprehensive income (loss)	(2,209)		(267)		72		(2,404)
Balance at October 31, 2020	$	(123,328)	$	(1,766)	$	(8,919)	$	(134,013)


	Nine Months Ended Oct 31, 2020
	Foreign Currency Translation Adjustment		Derivative Financial Instruments Designated as Cash Flow Hedges		Defined Benefit Plans		Total
Balance at February 1, 2020	$	(137,289)	$	6,300	$	(8,921)	$	(139,910)
Gains (losses) arising during the period	13,961		(2,546)		(214)		11,201
Reclassification to net loss for (gains) losses realized	—		(5,520)		216		(5,304)
Net other comprehensive income (loss)	13,961		(8,066)		2		5,897
Balance at October 31, 2020	$	(123,328)	$	(1,766)	$	(8,919)	$	(134,013)


	Three Months Ended Nov 2, 2019
	Foreign Currency Translation Adjustment		Derivative Financial Instruments Designated as Cash Flow Hedges		Defined Benefit Plans		Total
Balance at August 3, 2019	$	(136,764)	$	9,069	$	(9,507)	$	(137,202)

Gains arising during the period	2,941		776		13		3,730
Reclassification to net earnings for (gains) losses realized	—		(2,527)		90		(2,437)
Net other comprehensive income (loss)	2,941		(1,751)		103		1,293
Balance at November 2, 2019	$	(133,823)	$	7,318	$	(9,404)	$	(135,909)


	Nine Months Ended Nov 2, 2019
	Foreign Currency Translation Adjustment		Derivative Financial Instruments Designated as Cash Flow Hedges		Defined Benefit Plans		Total
Balance at February 2, 2019	$	(119,546)	$	2,999	$	(9,632)	$	(126,179)
Cumulative adjustment reclassified from retained earnings due to adoption of new accounting guidance1	—		1,981		—		1,981
Gains (losses) arising during the period	(14,277)		6,618		(42)		(7,701)
Reclassification to net earnings for (gains) losses realized	—		(4,280)		270		(4,010)
Net other comprehensive income (loss)	(14,277)		2,338		228		(11,711)
Balance at November 2, 2019	$	(133,823)	$	7,318	$	(9,404)	$	(135,909)

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Notes:

1During the first quarter of fiscal 2020, the Company adopted new authoritative guidance which eliminated the requirement to separately measure and report ineffectiveness for instruments that qualify for hedge accounting and generally requires that the entire change in the fair value of such instruments ultimately be presented in the same line as the respective hedge item. As a result, there is no interest component recognized for the ineffective portion of instruments that qualify for hedge accounting, but rather all changes in the fair value of such instruments are included in other comprehensive income (loss). Upon adoption of this guidance, the Company reclassified approximately $2.0 million in gains from retained earnings to accumulated other comprehensive loss related to the previously recorded interest component on outstanding instruments that qualified for hedge accounting.

Reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss)

Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss) during the three and nine months ended October 31, 2020 and November 2, 2019 are as follows (in thousands):


	Three Months Ended				Nine Months Ended				Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings (Loss)
	Oct 31, 2020		Nov 2, 2019		Oct 31, 2020		Nov 2, 2019



Derivative financial instruments designated as cash flow hedges:
Foreign exchange currency contracts	$	(1,804)	$	(2,826)	$	(6,299)	$	(4,813)	Cost of product sales

Interest rate swap	67		(28)		112		(118)		Interest expense
Less income tax effect	184		327		667		651		Income tax expense (benefit)
	(1,553)		(2,527)		(5,520)		(4,280)




Defined benefit plans:
Net actuarial loss amortization	101		112		294		334		Other income (expense)
Prior service credit amortization	(17)		(10)		(49)		(29)		Other income (expense)
Less income tax effect	(10)		(12)		(29)		(35)		Income tax expense (benefit)
	74		90		216		270
Total reclassifications during the period	$	(1,479)	$	(2,437)	$	(5,304)	$	(4,010)