Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Aug. 03, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivatives and Consolidated Balance Sheet Location

The following table presents the fair value and location of the company’s derivative instruments on the Condensed Consolidated Balance Sheets:

(Dollars in thousands)	August 3, 2018		August 4, 2017		October 31, 2017
Derivative assets:
Derivatives designated as cash flow hedging instruments
Prepaid expenses and other current assets
Forward currency contracts	$	2,324	$	1,998	$	1,014
Derivatives not designated as cash flow hedging instruments
Prepaid expenses and other current assets
Forward currency contracts	869		166		27
Total assets	$	3,193	$	2,164	$	1,041
Derivative liabilities:
Derivatives designated as cash flow hedging instruments
Accrued liabilities
Forward currency contracts	$	—	$	5,173	$	1,563
Derivatives not designated as cash flow hedging instruments
Accrued liabilities
Forward currency contracts	—		1,481		703
Total liabilities	$	—	$	6,654	$	2,266

Schedule of Effects of Master Netting Arrangements on Fair Value of Derivative Contracts Recorded in Consolidated Balance Sheets

The following table shows the effects of the master netting arrangements on the fair value of the company’s derivative contracts that are recorded in the Condensed Consolidated Balance Sheets:

(Dollars in thousands)	August 3, 2018			August 4, 2017			October 31, 2017
Derivative assets:
Forward currency contracts
Gross amounts of recognized assets	$	3,349		$	2,164		$	1,055
Gross liabilities offset in the balance sheets	(156		)	—			(14		)
Net amounts of assets presented in the Consolidated Balance Sheets	$	3,193		$	2,164		$	1,041
Derivative liabilities:
Forward currency contracts
Gross amounts of recognized liabilities	$	—		$	(6,654	)	$	(2,266	)
Gross assets offset in the balance sheets	—			—			—
Net amounts of liabilities presented in the Consolidated Balance Sheets	$	—		$	(6,654	)	$	(2,266	)

Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Designated as Cash Flow Hedging Instruments

The following tables present the impact and location of the amounts reclassified from AOCL into earnings on the Condensed Consolidated Statements of Earnings and the impact of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the company's derivatives designated as cash flow hedging instruments for the three and nine months ended August 3, 2018 and August 4, 2017:

	Three Months Ended
	Gain (Loss) Reclassified from AOCL into Earnings					Gain (Loss) Recognized in OCI on Derivatives
(Dollars in thousands)	August 3, 2018			August 4, 2017		August 3, 2018		August 4, 2017
Derivatives designated as cash flow hedging instruments
Forward currency contracts
Net sales	$	(170	)	$	153	$	1,435	$	(3,531	)
Cost of sales	137			96		14		469
Total derivatives designated as cash flow hedging instruments	$	(33	)	$	249	$	1,449	$	(3,062	)

	Nine Months Ended
	Gain (Loss) Reclassified from AOCL into Earnings						Gain (Loss) Recognized in OCI on Derivatives
(Dollars in thousands)	August 3, 2018			August 4, 2017			August 3, 2018			August 4, 2017
Derivatives designated as cash flow hedging instruments
Forward currency contracts
Net sales	$	(3,482	)	$	2,219		$	2,625		$	(3,685	)
Cost of sales	610			(1,227		)	(195		)	2,585
Total derivatives designated as cash flow hedging instruments	$	(2,872	)	$	992		$	2,430		$	(1,100	)

The following tables present the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives designated as cash flow hedging instruments and the related components excluded from effectiveness testing:

	Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
	August 3, 2018								August 4, 2017
(Dollars in thousands) Three Months Ended	Net Sales			Cost of Sales			Other Income, Net		Net Sales		Cost of Sales			Other Income, Net
Total Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded	$	655,821		$	(422,168	)	$	5,057	$	627,943	$	(401,158	)	$	5,349
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts
Amount of gain (loss) reclassified from AOCL into earnings	(170		)	137			—		153		96			—
Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value	$	132		$	(92	)	$	—	$	—	$	—		$	(179	)

	Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
	August 3, 2018								August 4, 2017
(Dollars in thousands) Nine Months Ended	Net Sales			Cost of Sales			Other Income, Net		Net Sales		Cost of Sales			Other Income, Net
Total Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded	$	2,079,347		$	(1,317,399	)	$	12,951	$	2,016,549	$	(1,279,970	)	$	12,916
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts
Amount of gain (loss) reclassified from AOCL into earnings	(3,482		)	610			—		2,219		(1,227		)	—
Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value	$	31		$	(210	)	$	—	$	—	$	—		$	190

Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Not Designated as Hedging Instruments

The following table presents the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives not designated as cash flow hedging instruments:

	Three Months Ended					Nine Months Ended
(Dollars in thousands)	August 3, 2018		August 4, 2017			August 3, 2018		August 4, 2017
Gain (loss) on derivatives not designated as cash flow hedging instruments
Forward currency contracts
Other income, net	$	2,111	$	(4,513	)	$	1,495	$	(3,959	)
Total gain (loss) on derivatives not designated as cash flow hedging instruments	$	2,111	$	(4,513	)	$	1,495	$	(3,959	)