ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Oct. 31, 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 thirty-nine weeks ended October 31, 2021 and November 1, 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	(79.7)		(1)(2)	74.6		(5.1)
Less: Amounts reclassified from AOCL	—			0.2		0.2
Other comprehensive (loss) income	(79.7)			74.4		(5.3)
Balance, October 31, 2021	$	(561.3)		$	36.9	$	(524.4)


(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	58.6		(1)(3)	(31.2)		27.4
Less: Amounts reclassified from AOCL	—			1.6		1.6
Other comprehensive income (loss)	58.6			(32.8)		25.8
Balance, November 1, 2020	$	(607.1)		$	(7.2)	$	(614.3)

(1) Foreign currency translation adjustments included a net gain (loss) on net investment hedges of $41.3 million and $(57.6) million during the thirty-nine weeks ended October 31, 2021 and November 1, 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 thirty-nine weeks ended October 31, 2021 and November 1, 2020:


	Amount Reclassified from AOCL								Affected Line Item in the Company’s Consolidated Statements of Operations
	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
(In millions)	10/31/21		11/1/20		10/31/21		11/1/20
Realized (loss) gain on effective cash flow hedges:
Foreign currency forward exchange contracts (inventory purchases)	$	(6.6)	$	5.3	$	1.2	$	8.4	Cost of goods sold
Interest rate swap agreements	(1.3)		—		(1.3)		—		SG&A (1)
Interest rate swap agreements	(0.7)		(3.3)		(2.6)		(7.9)		Interest expense
Less: Tax effect	(1.9)		(0.2)		(2.9)		(1.1)		Income tax expense (benefit)
Total, net of tax	$	(6.7)	$	2.2	$	0.2	$	1.6

(1) The Company dedesignated certain cash flow hedges related to its interest rate swap agreements during the thirteen weeks ended October 31, 2021. Please see Note 11, “Derivative Financial Instruments,” for further discussion.