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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
May 05, 2023
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)May 5, 2023April 29, 2022October 31, 2022
Derivative assets:   
Derivatives designated as cash flow hedging instruments:   
Prepaid expenses and other current assets   
Forward currency contracts$9,688 $14,274 $27,733 
Derivatives not designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts5,291 4,729 5,523 
Total derivative assets$14,979 $19,003 $33,256 
Derivative liabilities:
Derivatives designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts$111 $— $— 
Derivatives not designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts— 73 — 
Total derivative liabilities$111 $73 $— 
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)May 5, 2023April 29, 2022October 31, 2022
Derivative assets:
Forward currency contracts:
Gross amount of derivative assets$15,660 $19,325 $33,256 
Derivative liabilities offsetting derivative assets681 322 — 
Net amount of derivative assets$14,979 $19,003 $33,256 
Derivative liabilities:
Forward currency contracts:
Gross amount of derivative liabilities$438 $73 $— 
Derivative assets offsetting derivative liabilities327 — — 
Net amount of derivative liabilities$111 $73 $— 
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Designated as Cash Flow Hedging Instruments
The following table presents 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 and six months ended May 5, 2023 and April 29, 2022:
Three Months Ended
Gain (Loss) Reclassified from AOCL into EarningsGain Recognized in OCI on Derivatives
(Dollars in thousands)May 5, 2023April 29, 2022May 5, 2023April 29, 2022
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales$3,700 $(91)$10 $6,658 
Cost of sales955 115 1,605 541 
Total derivatives designated as cash flow hedging instruments$4,655 $24 $1,615 $7,199 
Six Months Ended
Gain (Loss) Reclassified from AOCL into Earnings(Loss) Gain Recognized in OCI on Derivatives
(Dollars in thousands)May 5, 2023April 29, 2022May 5, 2023April 29, 2022
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales$7,761 $(209)$(17,253)$12,328 
Cost of sales1,818 (36)2,206 1,243 
Total derivatives designated as cash flow hedging instruments$9,579 $(245)$(15,047)$13,571 
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)May 5, 2023April 29, 2022
Three Months EndedNet SalesCost of SalesNet SalesCost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded$1,339,326 $(859,605)$1,249,478 $(844,109)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings3,700 955 (91)115 
Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value$1,152 $448 $(650)$456 
Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
(Dollars in thousands)May 5, 2023April 29, 2022
Six Months EndedNet SalesCost of SalesNet SalesCost of Sales
Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded$2,488,166 $(1,612,521)$2,182,128 $(1,476,283)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings7,761 1,818 (209)(36)
Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value$2,392 $1,015 $(1,576)$553 
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 EndedSix Months Ended
(Dollars in thousands)May 5, 2023April 29, 2022May 5, 2023April 29, 2022
Gain (loss) on derivatives not designated as cash flow hedging instruments
Forward currency contracts:
Other income, net$1,598 $2,741 $(1,800)$3,983 
Total gain (loss) on derivatives not designated as cash flow hedging instruments$1,598 $2,741 $(1,800)$3,983