Derivative Instruments (Tables)

3 Months Ended

May 02, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The location and amounts of derivative fair values of foreign currency exchange forward contracts on the Condensed Consolidated Balance Sheet as of February 1, 2020 were as follows:

(in thousands)	Location	February 1, 2020		Location	February 1, 2020
Derivatives designated as cash flow hedging instruments	Other current assets	$	1,869	Accrued expenses	$	1,377
Derivatives not designated as hedging instruments	Other current assets	100		Accrued expenses	83
Total		$	1,969		$	1,460

Location and Amounts of Derivative Gains and Losses on the Condensed Consolidated Statements of Operations and Comprehensive Loss

Information pertaining to derivative gains or losses from foreign currency exchange forward contracts designated as cash flow hedging instruments for the thirteen weeks ended May 2, 2020 and May 4, 2019 follows:

	Thirteen Weeks Ended
(in thousands)	May 2, 2020		May 4, 2019
Gain recognized in AOCL (1)	$	12,235	$	2,263
Gain reclassified from AOCL into cost of sales, exclusive of depreciation and amortization (2)	$	3,370	$	2,541

⁽¹⁾  Amount represents the change in fair value of derivative contracts.

⁽²⁾  Amount represents gain reclassified from accumulated other comprehensive loss to cost of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Loss when the hedged item affects earnings, which is when merchandise is converted to cost of sales, exclusive of depreciation and amortization.

Substantially all of the unrealized gain will be recognized in costs of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) over the next twelve months.

Additional information pertaining to derivative gains or losses from foreign currency exchange forward contracts not designated as hedging instruments for the thirteen weeks ended May 2, 2020 and May 4, 2019 follows:

	Thirteen Weeks Ended
(in thousands)	May 2, 2020		May 4, 2019
Gain recognized in other operating loss (income), net	$	742	$	275