XML 51 R41.htm IDEA: XBRL DOCUMENT v3.23.3
Derivative Financial Instruments (Tables)
9 Months Ended
Oct. 28, 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 Oct 28, 2023Fair Value at Jan 28, 2023Derivative Balance Sheet Location
ASSETS:   
Derivatives designated as hedging instruments:   
Cash flow hedges:
   Foreign exchange currency contracts$3,358 $1,073 Other current assets/Other assets
   Interest rate swap1,128 1,034 Other assets
Total derivatives designated as hedging instruments4,486 2,107 
Derivatives not designated as hedging instruments:  
Foreign exchange currency contracts1,613 1,146 Other current assets
Total$6,099 $3,253  
LIABILITIES:   
Derivatives designated as hedging instruments:   
Cash flow hedges:
   Foreign exchange currency contracts$1,204 $12,930 Accrued expenses/
Other long-term liabilities
Total derivatives designated as hedging instruments1,204 12,930 
Derivatives not designated as hedging instruments:   
Foreign exchange currency contracts424 3,774 Accrued expenses
Total$1,628 $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 (in thousands): 
Gains Recognized in OCI
Location of Gain (Loss) Reclassified from Accumulated OCI into EarningsGains (Losses) Reclassified from Accumulated OCI into Earnings
Oct 28, 2023Oct 29, 2022Oct 28, 2023Oct 29, 2022
Three Months Ended
Derivatives designated as cash flow hedges:    
Foreign exchange currency contracts$6,443 $6,234 Cost of product sales$(130)$4,141 
Interest rate swap176 764 Interest expense158 30 
Nine Months Ended
Derivatives designated as cash flow hedges:    
Foreign exchange currency contracts$7,838 $16,358 Cost of product sales$6,074 $7,013 
Interest rate swap529 1,325 Interest expense434 (66)
Summary of net after-tax derivative activity recorded in accumulated other comprehensive income (loss)
The following summarizes net after income tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands):
 Three Months EndedNine Months Ended
 Oct 28, 2023Oct 29, 2022Oct 28, 2023Oct 29, 2022
Beginning balance (loss) gain$(5,805)$14,240 $(1,584)$7,280 
Net gains from changes in cash flow hedges5,870 6,136 7,383 15,578 
Net gains reclassified into earnings(6)(3,709)(5,740)(6,191)
Ending balance gain$59 $16,667 $59 $16,667 
Summary of derivative instruments not designated as hedging instruments
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 EndedNine Months Ended
 Oct 28, 2023Oct 29, 2022Oct 28, 2023Oct 29, 2022
Foreign exchange currency contractsOther expense$3,870 $1,153 $3,410 $4,294