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Derivative Financial Instruments (Tables)
 6 Months Ended
Jul. 29, 2017
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 July 29, 2017 and January 28, 2017 is as follows (in thousands):
 
 
Derivative
Balance Sheet
Location
 
Fair Value at
Jul 29, 2017
 
Fair Value at
Jan 28, 2017
ASSETS:
 
 
 
 

 
 

Derivatives designated as hedging instruments:
 
 
 
 

 
 

Cash flow hedges:
 
 
 
 
 
 
   Foreign exchange currency contracts
 
Other current assets/
Other assets
 
$
31

 
$
6,072

   Interest rate swap
 
Other assets
 
643

 
876

Total derivatives designated as hedging instruments
 
 
 
674

 
6,948

Derivatives not designated as hedging instruments:
 
 
 
 
 
 

Foreign exchange currency contracts
 
Other current assets/
Other assets
 
13

 
3,796

Total
 
 
 
$
687

 
$
10,744

LIABILITIES:
 
 
 
 

 
 

Derivatives designated as hedging instruments:
 
 
 
 

 
 

Cash flow hedges:
 
 
 
 
 
 
   Foreign exchange currency contracts
 
Accrued expenses/
Other long-term liabilities
 
$
9,620

 
$
1,250

Derivatives not designated as hedging instruments:
 
 
 
 

 
 

Foreign exchange currency contracts
 
Accrued expenses
 
4,423

 
174

Total
 
 
 
$
14,043

 
$
1,424
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 and six months ended July 29, 2017 and July 30, 2016 (in thousands): 
 
Gain (Loss)
Recognized in
OCI
 
Location of
Gain (Loss)
Reclassified from
Accumulated OCI
into Earnings (1)
 
Gain (Loss)
Reclassified from
Accumulated OCI into
Earnings
 
Three Months Ended
 
 
Three Months Ended
 
Jul 29, 2017
 
Jul 30, 2016
 
 
Jul 29, 2017
 
Jul 30, 2016
Derivatives designated as cash flow hedges:
 

 
 

 
 
 
 

 
 

Foreign exchange currency contracts
$
(14,673
)
 
$
5,762

 
Cost of product sales
 
$
661

 
$
1,141

Foreign exchange currency contracts
$
(785
)
 
$
343

 
Other income/expense
 
$
14

 
$
49

Interest rate swap
$
(77
)
 
$
(685
)
 
Interest expense
 
$
(26
)
 
$
(59
)
 
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)
 
Six Months Ended
 
 
Six Months Ended
 
Jul 29, 2017
 
Jul 30, 2016
 
 
Jul 29, 2017
 
Jul 30, 2016
Derivatives designated as cash flow hedges:
 

 
 

 
 
 
 

 
 

Foreign exchange currency contracts
$
(13,816
)
 
$
(5,650
)
 
Cost of product sales
 
$
1,279

 
$
2,576

Foreign exchange currency contracts
$
(996
)
 
$
(356
)
 
Other income/expense
 
$
93

 
$
81

Interest rate swap
$
(277
)
 
$
(817
)
 
Interest expense
 
$
(62
)
 
$
(110
)
__________________________________
(1)
The Company recognized gains of $0.9 million and $1.5 million resulting from the ineffective portion related to foreign exchange currency contracts in interest income during the three and six months ended July 29, 2017, respectively. The Company recognized gains of $0.1 million and $0.5 million resulting from the ineffective portion related to foreign exchange currency contracts in interest income during the three and six months ended July 30, 2016, respectively. There was no ineffectiveness recognized related to the interest rate swap during the three and six months ended July 29, 2017 and July 30, 2016.
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
 
Six Months Ended
 
Jul 29, 2017
 
Jul 30, 2016
 
Jul 29, 2017
 
Jul 30, 2016
Beginning balance gain (loss)
$
4,948

 
$
(3,773
)
 
$
5,400

 
$
7,252

Net gains (losses) from changes in cash flow hedges
(13,093
)
 
4,617

 
(12,969
)
 
(5,263
)
Net gains reclassified to earnings (loss)
(606
)
 
(881
)
 
(1,182
)
 
(2,026
)
Ending balance loss
$
(8,751
)
 
$
(37
)
 
$
(8,751
)
 
$
(37
)
Summary of gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income (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 and six months ended July 29, 2017 and July 30, 2016 (in thousands):
 
 
Location of
Gain (Loss)
Recognized in
Earnings (Loss)
 
Gain (Loss)
Recognized in Earnings
 
Gain (Loss)
Recognized in Earnings (Loss)
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
Jul 29, 2017
 
Jul 30, 2016
 
Jul 29, 2017
 
Jul 30, 2016
Derivatives not designated as hedging instruments:
 
 
 
 

 
 

 
 
 
 
Foreign exchange currency contracts
 
Other income/expense
 
$
(6,540
)
 
$
2,885

 
$
(7,333
)
 
$
(3,144
)
Interest rate swap
 
Other income/expense
 
$
—

 
$
—

 
$
—

 
$
38