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Derivatives and Hedging Activities (Tables)
6 Months Ended
Jul. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Open Foreign Currency Contracts
The Company's foreign exchange contracts had the following outstanding balances:
Balance as of
(in thousands, except number of instruments data)July 26, 2020January 26, 2020
Foreign Exchange ContractsNumber of InstrumentsSell Notional ValueBuy Notional ValueNumber of InstrumentsSell Notional ValueBuy Notional Value
Sell USD/Buy CAD Forward Contract6$8,571 C$12,000 $ C$ 
Sell USD/Buy GBP Forward Contract6$4,508 £3,600 $ £ 
Total12
Summary of the Carrying Values of Derivative Instruments
The fair values of the Company's derivative assets and liabilities that qualify as cash flow hedges in the Balance Sheets were as follows:
Balance as of
(in thousands)July 26, 2020January 26, 2020
Foreign currency forward contracts$473 $ 
Total other current assets$473 $ 
Interest rate swap agreement$795 $ 
Total accrued liabilities$795 $ 
Interest rate swap agreement$1,176 $ 
Total other long-term liabilities$1,176 $