XML 52 R39.htm IDEA: XBRL DOCUMENT v3.22.2.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jul. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of fair value of derivative instruments in the condensed consolidated balance sheets
The fair value of derivative instruments in the condensed consolidated balance sheets is (in thousands):
 Fair Value at Jul 30, 2022Fair Value at Jan 29, 2022Derivative Balance Sheet Location
ASSETS:   
Derivatives designated as hedging instruments:   
Cash flow hedges:
   Foreign exchange currency contracts$9,939 $5,999 Other current assets/
Other assets
   Interest rate swap584 — Other assets
Total derivatives designated as hedging instruments10,523 5,999 
Derivatives not designated as hedging instruments:  
Foreign exchange currency contracts3,293 1,134 Other current assets
Total$13,816 $7,133  
LIABILITIES:   
Derivatives designated as hedging instruments:   
Cash flow hedges:
   Foreign exchange currency contracts$830 $— Accrued expenses/
Other long-term liabilities
   Interest rate swap— 74 Other long-term liabilities
Total derivatives designated as hedging instruments830 74 
Derivatives not designated as hedging instruments:   
Foreign exchange currency contracts140 — Accrued expenses and other current liabilities
Total$970 $74  
Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges
The following summarizes the gains (losses) before income taxes recognized on derivative instruments designated as cash flow hedges in OCI and net earnings (in thousands): 
 
Gains (Losses) Recognized in OCI
Location of Gains (Losses) Reclassified from Accumulated OCI into EarningsGains (Losses) Reclassified from Accumulated OCI into Earnings
 Jul 30, 2022Jul 31, 2021Jul 30, 2022Jul 31, 2021
Three Months Ended
Derivatives designated as cash flow hedges:     
Foreign exchange currency contracts$2,298 $1,781 Cost of product sales$1,198 $(829)
Interest rate swap(216)(148)Interest expense(35)(195)
Six Months Ended
Derivatives designated as cash flow hedges:     
Foreign exchange currency contracts$10,124 $3,292 Cost of product sales$2,872 $(1,291)
Interest rate swap561 122 Interest expense(96)(131)
Summary of net after-tax derivative activity recorded in accumulated other comprehensive income (loss)
The following summarizes net after income tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands):
 Three Months EndedSix Months Ended
 Jul 30, 2022Jul 31, 2021Jul 30, 2022Jul 31, 2021
Beginning balance gain (loss)$13,400 $(2,863)$7,280 $(4,876)
Net gains from changes in cash flow hedges1,879 1,471 9,442 3,024 
Net (gains) losses reclassified into earnings(1,039)790 (2,482)1,250 
Ending balance gain (loss)$14,240 $(602)$14,240 $(602)
Summary of gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income (expense)
The following summarizes the gains before income taxes recognized on derivative instruments not designated as hedging instruments in other income (expense) (in thousands):
 Location of Gains Recognized in EarningsGains Recognized in Earnings
Three Months EndedSix Months Ended
 Jul 30, 2022Jul 31, 2021Jul 30, 2022Jul 31, 2021
Foreign exchange currency contractsOther expense$1,561 $485 $3,141 $556