Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 29, 2023

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 Apr 29, 2023		Fair Value at Jan 28, 2023		Derivative Balance Sheet Location
ASSETS:
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign exchange currency contracts	$	310	$	1,073	Other current assets
Interest rate swap	922		1,034		Other assets
Total derivatives designated as hedging instruments	1,232		2,107
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	357		1,146		Other current assets
Total	$	1,589	$	3,253
LIABILITIES:
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign exchange currency contracts	$	12,179	$	12,930	Accrued expenses/ Other long-term liabilities
Total derivatives designated as hedging instruments	12,179		12,930
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	3,817		3,774		Accrued expenses
Total	$	15,996	$	16,704

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 (loss) (in thousands): 

	Gains (Losses) Recognized in OCI				Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Loss)	Gains (Losses) Reclassified from Accumulated OCI into Earnings (Loss)
	Apr 29, 2023		Apr 30, 2022			Apr 29, 2023		Apr 30, 2022
	Three Months Ended
Derivatives designated as cash flow hedges:
Foreign exchange currency contracts	$	(1,072)	$	7,826	Cost of product sales	$	5,893	$	1,674
Interest rate swap	15		777		Interest expense	128		(61)

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 Ended
	Apr 29, 2023		Apr 30, 2022
Beginning balance gain (loss)	$	(1,584)	$	7,280
Net gains (losses) from changes in cash flow hedges	(942)		7,563
Net gains reclassified into earnings (loss)	(5,343)		(1,443)
Ending balance gain (loss)	$	(7,869)	$	13,400

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 (Losses) Recognized in Earnings (Loss)	Gains (Losses) Recognized in Earnings (Loss)
		Three Months Ended
		Apr 29, 2023		Apr 30, 2022
Foreign exchange currency contracts	Other expense	$	(625)	$	1,580