XML 92 R39.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Nov. 03, 2019
Derivative Financial Instruments [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following table summarizes the fair value and presentation of the Company’s derivative financial instruments in its Consolidated Balance Sheets:
 (In millions)
Assets
 
Liabilities
 
11/3/19
 
2/3/19
 
11/4/18
 
11/3/19
 
2/3/19
 
11/4/18
 
Other Current Assets
Other Assets
 
Other Current Assets
Other Assets
 
Other Current Assets
Other Assets
 
Accrued Expenses
Other Liabilities
 
Accrued Expenses
Other Liabilities
 
Accrued Expenses
Other Liabilities
Contracts designated as cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency forward exchange contracts (inventory purchases)
$
21.3

$
0.1

 
$
24.0

$
0.7

 
$
33.7

$
1.7

 
$
3.3

$
0.4

 
$
3.5

$
0.7

 
$
0.3

$
0.1

Interest rate swap agreements
0.2

0.1

 
1.4

—

 
2.0

0.9

 
4.9

1.8

 
1.2

1.6

 
0.1

—

Total contracts designated as cash flow hedges
21.5

0.2

 
25.4

0.7

 
35.7

2.6

 
8.2

2.2

 
4.7

2.3

 
0.4

0.1

Undesignated contracts:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency forward exchange contracts
1.5

—

 
0.1

—

 
0.1

—

 
1.7

—

 
2.0

—

 
3.5

—

Total
$
23.0

$
0.2

 
$
25.5

$
0.7

 
$
35.8

$
2.6

 
$
9.9

$
2.2

 
$
6.7

$
2.3

 
$
3.9

$
0.1
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The following tables summarize the effect of the Company’s hedges designated as cash flow and net investment hedging instruments:
 
 
(Loss) Gain Recognized in Other Comprehensive (Loss) Income
 
 
(In millions)
 
Thirteen Weeks Ended
 
11/3/19
 
11/4/18
Foreign currency forward exchange contracts     (inventory purchases)
 
$
(23.4
)
 
$
23.4

Interest rate swap agreements
 
(0.3
)
 
0.4

Foreign currency borrowings (net investment hedges)
 
(3.1
)
 
16.0

Total    
 
$
(26.8
)
 
$
39.8

 
 
 
 
 
Thirty-Nine Weeks Ended
 
11/3/19
 
11/4/18
Foreign currency forward exchange contracts     (inventory purchases)
 
$
19.1

 
$
89.8

Interest rate swap agreements
 
(5.4
)
 
1.1

Foreign currency borrowings (net investment hedges)
 
31.1

 
100.7

Total
 
$
44.8

 
$
191.6


 
 
Amount of (Loss) Gain Reclassified from AOCL into (Expense) Income, Consolidated Income Statement Location, and Total Amount of Consolidated Income Statement Line Item
(In millions)
 
Amount Reclassified
 
Location
 
Total Income Statement Amount
Thirteen Weeks Ended
 
11/3/19
 
11/4/18
 
 
 
11/3/19
 
11/4/18
Foreign currency forward exchange contracts (inventory purchases)
 
$
(2.3
)
 
$
5.5

 
Cost of goods sold
 
$
1,181.5

 
$
1,159.7

Interest rate swap agreements
 
(0.6
)
 
0.2

 
Interest expense
 
29.2

 
30.3

Total
 
$
(2.9
)
 
$
5.7

 
 
 


 


 
 
 
 
 
 
 
 
 
 
 
Thirty-Nine Weeks Ended
 
11/3/19
 
11/4/18
 
 
 
11/3/19
 
11/4/18
Foreign currency forward exchange contracts (inventory purchases)
 
$
23.4

 
$
(23.1
)
 
Cost of goods sold
 
$
3,317.7

 
$
3,220.0

Interest rate swap agreements
 
(0.4
)
 
0.6

 
Interest expense
 
88.5

 
90.0

Total
 
$
23.0

 
$
(22.5
)
 
 
 


 
Derivatives Not Designated as Hedging Instruments [Table Text Block]
The following table summarizes the effect of the Company’s undesignated contracts recognized in SG&A expenses in its Consolidated Income Statements:
(In millions)
 
Gain (Loss) Recognized in Income (Expense)
Thirteen Weeks Ended
 
11/3/19
 
11/4/18
Foreign currency forward exchange contracts
 
$
—

 
$
(3.0
)
 
 
 
 
 
Thirty-Nine Weeks Ended
 
11/3/19
 
11/4/18
Foreign currency forward exchange contracts
 
$
0.7

 
$
(3.0
)