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Derivative Instruments
 12 Months Ended
Feb. 02, 2019
Derivative [Line Items]  
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS

In the first quarter of 2015, our Board of Directors authorized our management to enter into derivative instruments designed to mitigate certain risks; and we entered into collar contracts to mitigate our risk associated with market fluctuations in diesel fuel prices. These contracts are used strictly to limit our risk exposure and not as speculative transactions. Our derivative instruments associated with diesel fuel do not meet the requirements for cash flow hedge accounting. Therefore, our derivative instruments associated with diesel fuel will be marked-to-market to determine their fair value, and the associated gains and losses will be recognized currently in other income (expense) on our consolidated statements of operations.

Our outstanding derivative instrument contracts were comprised of the following:
(In thousands)
February 2, 2019
February 3, 2018
Diesel fuel collars (in gallons)
7,200
3,600

 
The fair value of our outstanding derivative instrument contracts was as follows:
(In thousands)
 
Assets (Liabilities)
Derivative Instrument
Balance Sheet Location
February 2, 2019
February 3, 2018
Diesel fuel collars
Other current assets
$
523

$
312

 
Other assets
203

262

 
Accrued operating expenses
(586
)
(77
)
 
Other liabilities
(825
)
(107
)
Total derivative instruments
 
$
(685
)
$
390



The effect of derivative instruments on the consolidated statements of operations was as follows:
(In thousands)
 
Amount of Gain (Loss)
Derivative Instrument
Statements of Operations Location
2018
2017
2016
Diesel fuel collars
 
 
 
 
Realized
Other income (expense)
$
455

$
(756
)
$
(2,299
)
Unrealized
Other income (expense)
(1,075
)
1,398

3,657

Total derivative instruments
 
$
(620
)
$
642

$
1,358



The fair values of our derivative instruments are determined using observable inputs from commonly quoted markets. These fair value measurements are classified as Level 2 within the fair value hierarchy.