ACCUMULATED OTHER COMPREHENSIVE LOSS

6 Months Ended

Aug. 01, 2021

Accumulated Other Comprehensive Income [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables present the changes in AOCL, net of related taxes, by component for the twenty-six weeks ended August 1, 2021 and August 2, 2020:


(In millions)	Foreign currency translation adjustments			Net unrealized and realized (loss) gain on effective cash flow hedges		Total
Balance, January 31, 2021	$	(481.6)		$	(37.5)	$	(519.1)
Other comprehensive (loss) income before reclassifications	(44.8)		(1)(2)	58.5		13.7
Less: Amounts reclassified from AOCL	—			6.9		6.9
Other comprehensive (loss) income	(44.8)			51.6		6.8
Balance, August 1, 2021	$	(526.4)		$	14.1	$	(512.3)


(In millions)	Foreign currency translation adjustments			Net unrealized and realized gain (loss) on effective cash flow hedges		Total
Balance, February 2, 2020	$	(665.7)		$	25.6	$	(640.1)
Other comprehensive income (loss) before reclassifications	60.5		(1)(3)	(43.6)		16.9
Less: Amounts reclassified from AOCL	—			(0.6)		(0.6)
Other comprehensive income (loss)	60.5			(43.0)		17.5
Balance, August 2, 2020	$	(605.2)		$	(17.4)	$	(622.6)

(1) Foreign currency translation adjustments included a net gain (loss) on net investment hedges of $20.6 million and $(70.3) million during the twenty-six weeks ended August 1, 2021 and August 2, 2020, respectively.

(2) Unfavorable foreign currency translation adjustments were principally driven by a strengthening of the United States dollar against the euro.

(3) Favorable foreign currency translation adjustments were principally driven by a weakening of the United States dollar against the euro.

The following table presents reclassifications from AOCL to earnings for the thirteen and twenty-six weeks ended August 1, 2021 and August 2, 2020:


	Amount Reclassified from AOCL								Affected Line Item in the Company’s Consolidated Statements of Operations
	Thirteen Weeks Ended				Twenty-Six Weeks Ended
(In millions)	8/1/21		8/2/20		8/1/21		8/2/20
Realized gain (loss) on effective cash flow hedges:
Foreign currency forward exchange contracts (inventory purchases)	$	5.8	$	0.9	$	7.8	$	3.1	Cost of goods sold
Interest rate swap agreements	(0.8)		(2.9)		(1.9)		(4.6)		Interest expense
Less: Tax effect	(0.5)		(0.7)		(1.0)		(0.9)		Income tax expense (benefit)
Total, net of tax	$	5.5	$	(1.3)	$	6.9	$	(0.6)