Derivatives (Tables)

6 Months Ended

Aug. 04, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the fair value and presentation of derivative instruments in the condensed consolidated balance sheets:

	Fair value of derivative assets
(in millions)	Balance sheet location	August 4, 2018		February 3, 2018		July 29, 2017
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	0.8	$	—	$	0.1
Commodity contracts	Other current assets	—		—		1.4
Interest rate swaps	Other assets	1.9		2.2		0.7
Total derivative assets		$	2.7	$	2.2	$	2.2
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	0.3		—		0.4
Total derivative assets		$	3.0	$	2.2	$	2.6

	Fair value of derivative liabilities
(in millions)	Balance sheet location	August 4, 2018			February 3, 2018			July 29, 2017
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current liabilities	$	—		$	(1.4	)	$	(1.0	)
Commodity contracts	Other current liabilities	(4.1		)	(0.1		)	—
Commodity contracts	Other liabilities	(0.9		)	—			—
		$	(5.0	)	$	(1.5	)	$	(1.0	)
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current liabilities	(0.8		)	(0.9		)	(0.1		)
Total derivative liabilities		$	(5.8	)	$	(2.4	)	$	(1.1	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the pre-tax gains (losses) recorded in AOCI for derivatives designated in cash flow hedging relationships:

(in millions)	August 4, 2018			February 3, 2018			July 29, 2017
Foreign currency contracts	$	0.4		$	(2.4	)	$	0.6
Commodity contracts	(4.4		)	1.4			1.0
Interest rate swaps	1.9			2.2			0.7
Gains (losses) recorded in AOCI	$	(2.1	)	$	1.2		$	2.3

Derivative Instruments, Gain (Loss)

The following tables summarize the effect of derivative instruments designated as cash flow hedges in OCI and the condensed consolidated income statements:

Foreign currency contracts

		13 weeks ended						26 weeks ended
(in millions)	Income statement caption	August 4, 2018			July 29, 2017			August 4, 2018			July 29, 2017
(Losses) gains recorded in AOCI, beginning of period		$	(0.8	)	$	2.1		$	(2.4	)	$	4.1
Current period gains (losses) recognized in OCI		0.8			(0.3		)	2.1			(1.3		)
Losses (gains) reclassified from AOCI to net income	Cost of sales	0.4			(1.2		)	0.7			(2.2		)
Gains recorded in AOCI, end of period		$	0.4		$	0.6		$	0.4		$	0.6

Commodity contracts

		13 weeks ended						26 weeks ended
(in millions)	Income statement caption	August 4, 2018			July 29, 2017			August 4, 2018			July 29, 2017
Gains (losses) recorded in AOCI, beginning of period		$	1.1		$	2.1		$	1.4		$	(2.1	)
Current period gains (losses) recognized in OCI		(5.1		)	(0.8		)	(4.9		)	4.6
Gains reclassified from AOCI to net income	Cost of sales	(0.4		)	(0.3		)	(0.9		)	(1.5		)
Gains (losses) recorded in AOCI, end of period		$	(4.4	)	$	1.0		$	(4.4	)	$	1.0

Interest rate swaps

		13 weeks ended						26 weeks ended
(in millions)	Income statement caption	August 4, 2018			July 29, 2017			August 4, 2018			July 29, 2017
Gains recorded in AOCI, beginning of period		$	2.3		$	0.8		$	2.2		$	0.4
Current period gains (losses) recognized in OCI		—			(0.2		)	0.4			(0.1		)
(Gains) losses reclassified from AOCI to net income	Interest expense, net	(0.4		)	0.1			(0.7		)	0.4
Gains recorded in AOCI, end of period		$	1.9		$	0.7		$	1.9		$	0.7

The following table presents the effects of the Company’s derivatives instruments not designated as cash flow hedges in the condensed consolidated income statements:

		13 weeks ended					26 weeks ended
(in millions)	Income statement caption	August 4, 2018			July 29, 2017		August 4, 2018			July 29, 2017
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other operating income,  net	$	(5.7	)	$	4.9	$	(10.5	)	$	3.2