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Derivative Financial Instruments (Tables)
 3 Months Ended
May 05, 2018
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 5, 2018 and February 3, 2018 is as follows (in thousands):
 
 
Derivative
Balance Sheet
Location
 
Fair Value at
May 5, 2018
 
Fair Value at
Feb 3, 2018
ASSETS:
 
 
 
 

 
 

Derivatives designated as hedging instruments:
 
 
 
 

 
 

Cash flow hedges:
 
 
 
 
 
 
   Foreign exchange currency contracts
 
Other current assets/
Other assets
 
$
1,186

 
$
41

   Interest rate swap
 
Other assets
 
1,522

 
1,460

Total derivatives designated as hedging instruments
 
 
 
2,708

 
1,501

Derivatives not designated as hedging instruments:
 
 
 
 
 
 

Foreign exchange currency contracts
 
Other current assets/
Other assets
 
972

 
10

Total
 
 
 
$
3,680

 
$
1,511

LIABILITIES:
 
 
 
 

 
 

Derivatives designated as hedging instruments:
 
 
 
 

 
 

Cash flow hedges:
 
 
 
 
 
 
   Foreign exchange currency contracts
 
Accrued expenses/
Other long-term liabilities
 
$
4,241

 
$
13,789

Derivatives not designated as hedging instruments:
 
 
 
 

 
 

Foreign exchange currency contracts
 
Accrued expenses
 
1,812

 
4,300

Total
 
 
 
$
6,053

 
$
18,089
Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net loss
The following table summarizes the gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net loss for the three months ended May 5, 2018 and April 29, 2017 (in thousands): 
 
Gain (Loss)
Recognized in
OCI
 
Location of
Gain (Loss)
Reclassified from
Accumulated OCI
into Loss (1)
 
Gain (Loss)
Reclassified from
Accumulated OCI into Loss
 
Three Months Ended
 
 
Three Months Ended
 
May 5, 2018
 
Apr 29, 2017
 
 
May 5, 2018
 
Apr 29, 2017
Derivatives designated as cash flow hedges:
 

 
 

 
 
 
 

 
 

Foreign exchange currency contracts
$
7,422

 
$
857

 
Cost of product sales
 
$
(1,686
)
 
$
618

Foreign exchange currency contracts
$
2

 
$
(211
)
 
Other income/expense
 
$
(201
)
 
$
79

Interest rate swap
$
68

 
$
(200
)
 
Interest expense
 
$
8

 
$
(36
)
__________________________________
(1)
The Company recognized gains of $0.6 million resulting from the ineffective portion related to foreign exchange currency contracts in interest income during each of the three months ended May 5, 2018 and April 29, 2017. There was no ineffectiveness recognized related to the interest rate swap during the three months ended May 5, 2018 and April 29, 2017.
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 5, 2018
 
Apr 29, 2017
Beginning balance gain (loss)
$
(14,369
)
 
$
5,400

Net gains from changes in cash flow hedges
6,468

 
124

Net (gains) losses reclassified to loss
1,616

 
(576
)
Ending balance gain (loss)
$
(6,285
)
 
$
4,948
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 months ended May 5, 2018 and April 29, 2017 (in thousands):
 
 
Location of
Gain (Loss)
Recognized in Loss
 
Gain (Loss)
Recognized in Loss
 
 
 
Three Months Ended
 
 
 
May 5, 2018
 
Apr 29, 2017
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
Foreign exchange currency contracts
 
Other income/expense
 
$
3,690

 
$
(793
)