Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Jan. 29, 2021

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)	January 29, 2021		January 31, 2020		October 31, 2020
Derivative assets:
Derivatives designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts	$	1,294	$	9,244	$	802
Derivatives not designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts	178		3,432		131
Total assets	$	1,472	$	12,676	$	933
Derivative liabilities:
Derivatives designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts	$	14,763	$	—	$	2,687
Derivatives not designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts	2,200		—		(203)
Total liabilities	$	16,963	$	—	$	2,484

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

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

(Dollars in thousands)	January 29, 2021		January 31, 2020		October 31, 2020
Derivative assets:
Forward currency contracts:
Gross amounts of recognized assets	$	1,472	$	12,841	$	1,139
Gross liabilities offset in the Condensed Consolidated Balance Sheets	—		(165)		(206)
Net amounts of assets presented in the Condensed Consolidated Balance Sheets	$	1,472	$	12,676	$	933
Derivative liabilities:
Forward currency contracts:
Gross amounts of recognized liabilities	$	(16,970)	$	—	$	(3,233)
Gross assets offset in the Condensed Consolidated Balance Sheets	7		—		749
Net amounts of liabilities presented in the Condensed Consolidated Balance Sheets	$	(16,963)	$	—	$	(2,484)

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 net 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 months ended January 29, 2021 and January 31, 2020:

	Three Months Ended
	Gain (Loss) Reclassified from AOCL into Earnings				Gain (Loss) Recognized in OCI on Derivatives
(Dollars in thousands)	January 29, 2021		January 31, 2020		January 29, 2021		January 31, 2020
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales	$	(2,097)	$	1,205	$	(7,694)	$	584
Cost of sales	99		332		(616)		68
Total derivatives designated as cash flow hedging instruments	$	(1,998)	$	1,537	$	(8,310)	$	652

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
(Dollars in thousands)	January 29, 2021				January 31, 2020
Three Months Ended	Net Sales		Cost of Sales		Net Sales		Cost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded	$	872,986	$	(557,950)	$	767,483	$	(479,395)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings	(2,097)		99		1,205		332
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value	$	162	$	185	$	660	$	11

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
(Dollars in thousands)	January 29, 2021		January 31, 2020
Gain (loss) on derivatives not designated as cash flow hedging instruments
Forward currency contracts:
Other income, net	$	(3,478)	$	220
Total gain (loss) on derivatives not designated as cash flow hedging instruments	$	(3,478)	$	220