Derivatives (Tables)

9 Months Ended

Nov. 02, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Foreign Exchange Forward Contracts

As of November 2, 2013, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge either a portion, or all, of forecasted foreign-currency-denominated intercompany inventory sales, the resulting settlement of the foreign-currency-denominated intercompany accounts receivable, or both:



	Notional Amount⁽¹⁾
Euro	$	85,125
British Pound	$	40,749
Canadian Dollar	$	13,996


⁽¹⁾	Amounts are reported in thousands and in U.S. Dollar equivalent as of November 2, 2013.

As of November 2, 2013, the Company had outstanding the following foreign currency forward contracts that were entered into to hedge foreign currency denominated net monetary assets/liabilities:



	Notional Amount⁽¹⁾
Euro	$	37,950
Swiss Franc	$	23,569


⁽¹⁾	Amounts are reported in thousands and in U.S. Dollar equivalent as of November 2, 2013.

Location and Amounts of Derivative Fair Values on the Consolidated Balance Sheets

The location and amounts of derivative fair values on the Consolidated Balance Sheets as of November 2, 2013 and February 2, 2013 were as follows:



	Balance Sheet	Asset Derivatives				Balance Sheet	Liability Derivatives
(in thousands):	Location	November 2, 2013		February 2, 2013		Location	November 2, 2013		February 2, 2013
Derivatives Designated as Hedging Instruments:
Foreign Currency Exchange Forward Contracts	Other Current Assets	$	506	$	1,967	Other Liabilities	$	2,224	$	9,270
Derivatives Not Designated as Hedging Instruments:
Foreign Currency Exchange Forward Contracts	Other Current Assets	$	852	$	526	Other Liabilities	$	558	$	717
Total	Other Current Assets	$	1,358	$	2,493	Other Liabilities	$	2,782	$	9,987

Location and Amounts of Derivative Gains and Losses on the Consolidated Statements of Operations and Comprehensive Income (Loss)

The location and amounts of derivative gains and losses for the thirteen and thirty-nine weeks ended November 2, 2013 and October 27, 2012 on the Consolidated Statements of Operations and Comprehensive Income (Loss) were as follows:



		Thirteen Weeks Ended						Thirty-Nine Weeks Ended
		November 2, 2013			October 27, 2012			November 2, 2013		October 27, 2012
(in thousands):	Location	Gain/(Loss)			Gain/(Loss)			Gain/(Loss)		Gain/(Loss)
Derivatives not designated as Hedging Instruments:
Foreign Exchange Forward Contracts	Other Operating (Income) Expense, Net	$	(805	)	$	(1,560	)	$	456	$	2,897



	Amount of Gain (Loss) Recognized in OCI on Derivative Contracts (Effective Portion) (a)						Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion) (b)				Location of Gain (Loss) Recognized in Earnings on Derivative Contracts (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain (Loss) Recognized in Earnings on Derivative Contracts (Ineffective Portion and Amount Excluded from Effectiveness Testing) (c)
	Thirteen Weeks Ended
(in thousands):	November 2, 2013			October 27, 2012				November 2, 2013		October 27, 2012			November 2, 2013			October 27, 2012
Derivatives in Cash Flow Hedging Relationships
Foreign Currency Exchange Forward Contracts	$	(3,748	)	$	(8,147	)	Cost of Goods Sold	$	1,359	$	5,981	Other Operating (Income) Expense, Net	$	(9	)	$	221
	Thirty-Nine Weeks Ended
(in thousands):	November 2, 2013			October 27, 2012				November 2, 2013		October 27, 2012			November 2, 2013			October 27, 2012
Derivatives in Cash Flow Hedging Relationships
Foreign Currency Exchange Forward Contracts	$	7,515		$	2,566		Cost of Goods Sold	$	1,581	$	14,820	Other Operating (Income) Expense, Net	$	167		$	9


(a)	The amount represents the change in fair value of derivative contracts due to changes in spot rates.


(b)	The amount represents the reclassification from OCI into earnings when the hedged item affects earnings, which is when merchandise is sold to the Company’s customers.


(c)	The amount represents the change in fair value of derivative contracts due to changes in the difference between the spot price and forward price that is excluded from the assessment of hedge effectiveness and, therefore, recognized in earnings.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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