Derivative Financial Instruments (Tables)

3 Months Ended

May 02, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of fair value of derivative instruments in the condensed consolidated balance sheets

The fair value of derivative instruments in the condensed consolidated balance sheets as of May 2, 2015 and January 31, 2015 was as follows (in thousands):

	Derivative Balance Sheet Location	Fair Value at May 2, 2015		Fair Value at Jan 31, 2015
ASSETS:
Derivatives designated as hedging instruments:
Foreign exchange currency contracts:
Cash flow hedges	Other current assets	$	3,255	$	6,597
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	Other current assets	8,876		8,945
Total		$	12,131	$	15,542
LIABILITIES:
Derivatives designated as hedging instruments:
Foreign exchange currency contracts:
Cash flow hedges	Accrued expenses	$	1,514	$	—
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	Accrued expenses	930		—
Interest rate swaps	Accrued expenses/ Other long-term liabilities	218		270
Total derivatives not designated as hedging instruments		1,148		270
Total		$	2,662	$	270

Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss)

The following table summarizes the gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss) for the three months ended May 2, 2015 and May 3, 2014 (in thousands): 

	Loss Recognized in OCI						Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Loss)(1)	Gain (Loss) Reclassified from Accumulated OCI into Earnings (Loss)
	Three Months Ended May 2, 2015			Three Months Ended May 3, 2014				Three Months Ended May 2, 2015		Three Months Ended May 3, 2014
Derivatives designated as cash flow hedges:
Foreign exchange currency contracts	$	(1,147	)	$	(2,572	)	Cost of product sales	$	1,750	$	(494	)
Foreign exchange currency contracts	$	(148	)	$	(107	)	Other income/expense	$	486	$	(31	)

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(1) The ineffective portion was immaterial during the three months ended May 2, 2015 and May 3, 2014 and was recorded in net earnings (loss) and included in interest income/expense.

Summary of net after-tax derivative activity recorded in accumulated other comprehensive income (loss)

The following table summarizes net after-tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands):

	Three Months Ended
	May 2, 2015			May 3, 2014
Beginning balance gain (loss)	$	7,157		$	(113	)
Net losses from changes in cash flow hedges	(926		)	(2,058		)
Net (gains) losses reclassified to earnings (loss)	(1,935		)	504
Ending balance gain (loss)	$	4,296		$	(1,667	)

Summary of gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income and expense

The following table summarizes the gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income and expense for the three months ended May 2, 2015 and May 3, 2014 (in thousands):

	Location of Gain (Loss) Recognized in Earnings (Loss)	Gain (Loss) Recognized in Earnings (Loss)
		Three Months Ended May 2, 2015			Three Months Ended May 3, 2014
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	Other income/expense	$	(701	)	$	(2,789	)
Interest rate swaps	Other income/expense	$	49		$	75