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Derivatives and Hedging Activities (Tables)
 3 Months Ended
Apr. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Open Foreign Currency Contracts
At April 30, 2017, the Company had the following outstanding foreign exchange contracts:
(in thousands)
 
 
 
 
 
 
Foreign Exchange Contracts
 
Number of Instruments
 
Sell Notional Value
 
Buy Notional Value
Sell USD/Buy CAD Forward Contract
 
9
 
$
14,904

 
C$
20,250

Sell USD/Buy GBP Forward Contract
 
9
 
$
8,271

 
£
6,750

Total
 
18
 

 
 
Summary of the Carrying Values of Derivative Instruments
The table below summarizes the carrying values of derivative instruments as of April 30, 2017 and January 29, 2017:
 
 
Carrying Values of Derivative Instruments as of April 30, 2017
(in thousands)
 
Fair Value - Assets (2)
 
Fair Value - (Liabilities) (2)
 
Derivative Net Carrying Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
Foreign exchange contracts (1)
 
$
501

 
$
(36
)
 
$
465

Total derivatives
 
$
501

 
$
(36
)
 
$
465

 
 
 
 
 
 
 
 
 
Carrying Values of Derivative Instruments as of January 29, 2017
 
 
Fair Value - Assets (2)
 
Fair Value - (Liabilities) (2)
 
Derivative Net Carrying Value
Derivatives designated as hedging instruments
 
 
 
 
 
 
Foreign exchange contracts (1)
 
$
326

 
$
—

 
$
326

Total derivatives
 
$
326

 
$
—

 
$
326

(1)
Assets are included in "Other current assets" and liabilities are included in "Accrued liabilities" within the Balance Sheets.
(2)
The fair values of the foreign exchange forward contracts are valued using Level 2 inputs. Please refer to Note 6.
Summary of Gain (Loss) Recognized From Derivative Instruments
The following table summarizes the amount of income recognized from derivative instruments for the three months ended April 30, 2017 and May 1, 2016 as well as the line items within the accompanying Statements of Income where the results are recorded for cash flow hedges:
 
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)
 
 Location of Gain or Loss into Income (Effective Portion)
 
Amount of (Gain) Loss Reclassified from AOCI into Income (Effective Portion)
 
Location of Gain or Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Three Months Ended
 
 
Three Months Ended
 
 
Three Months Ended
(in thousands)
April 30, 2017
 
May 1, 2016
 
 
April 30, 2017
 
May 1, 2016
 
 
April 30, 2017
 
May 1, 2016
Sell USD/Buy CHF Forward Contract
$
—

 
$
266

 
SG&A
 
$
—

 
$
(17
)
 
SG&A
 
$
—

 
$
1

Sell USD/Buy CAD Forward Contract
(35
)
 
1,785

 
SG&A
 
—

 
(141
)
 
SG&A
 
—

 
3

Sell USD/Buy GBP Forward Contract
234

 
(73
)
 
SG&A
 
(59
)
 
71

 
SG&A
 
—

 
—

 
$
199

 
$
1,978

 
 
 
$
(59
)
 
$
(87
)
 
 
 
$
—

 
$
4