XML 47 R28.htm IDEA: XBRL DOCUMENT v3.20.1
Stockholders' Equity (Tables)
 3 Months Ended
May 02, 2020
Equity [Abstract]  
Schedule of changes in accumulated other comprehensive income (loss), net of related income taxes
The changes in accumulated other comprehensive income (loss), net of related income taxes, for the three months ended May 2, 2020 and May 4, 2019 are as follows (in thousands):
 
Three Months Ended May 2, 2020
 
Foreign Currency Translation Adjustment
 
Derivative Financial Instruments Designated as Cash Flow Hedges
 
Defined Benefit Plans
 
Total
Balance at February 1, 2020
$
(137,289
)
 
$
6,300

 
$
(8,921
)
 
$
(139,910
)
Gains (losses) arising during the period
(14,873
)
 
3,180

 
(1
)
 
(11,694
)
Reclassification to net loss for (gains) losses realized
—

 
(1,769
)
 
71

 
(1,698
)
Net other comprehensive income (loss)
(14,873
)
 
1,411

 
70

 
(13,392
)
Balance at May 2, 2020
$
(152,162
)
 
$
7,711

 
$
(8,851
)
 
$
(153,302
)
 
Three Months Ended May 4, 2019
 
Foreign Currency Translation Adjustment
 
Derivative Financial Instruments Designated as Cash Flow Hedges
 
Defined Benefit Plans
 
Total
Balance at February 2, 2019
$
(119,546
)
 
$
2,999

 
$
(9,632
)
 
$
(126,179
)
Cumulative adjustment reclassified from retained earnings due to adoption of new accounting guidance1
—

 
1,981

 
—

 
1,981

Gains (losses) arising during the period
(12,377
)
 
3,864

 
96

 
(8,417
)
Reclassification to net loss for (gains) losses realized
—

 
(181
)
 
90

 
(91
)
Net other comprehensive income (loss)
(12,377
)
 
3,683

 
186

 
(8,508
)
Balance at May 4, 2019
$
(131,923
)
 
$
8,663

 
$
(9,446
)
 
$
(132,706
)

______________________________________________________________________
Notes:
1 
During the first quarter of fiscal 2020, the Company adopted new authoritative guidance which eliminated the requirement to separately measure and report ineffectiveness for instruments that qualify for hedge accounting and generally requires that the entire change in the fair value of such instruments ultimately be presented in the same line as the respective hedge item. As a result, there is no interest component recognized for the ineffective portion of instruments that qualify for hedge accounting, but rather all changes in the fair value of such instruments are included in other comprehensive income (loss). Upon adoption of this guidance, the Company reclassified approximately $2.0 million in gains from retained earnings to accumulated other comprehensive loss related to the previously recorded interest component on outstanding instruments that qualified for hedge accounting.
Reclassifications out of accumulated other comprehensive income (loss) to net loss
Details on reclassifications out of accumulated other comprehensive income (loss) to net loss during the three months ended May 2, 2020 and May 4, 2019 are as follows (in thousands):
 
Three Months Ended
 
Location of (Gain) Loss Reclassified from Accumulated OCI into Loss
 
May 2, 2020
 
May 4, 2019
 
Derivative financial instruments designated as cash flow hedges:
 
   Foreign exchange currency contracts
$
(1,991
)
 
$
(230
)
 
Cost of product sales
   Interest rate swap
3

 
(46
)
 
Interest expense
      Less income tax effect
219

 
95

 
Income tax benefit
 
(1,769
)
 
(181
)
 
 
Defined benefit plans:
 
 
 
 
 
   Net actuarial loss amortization
96

 
111

 
Other income (expense)
   Prior service credit amortization
(16
)
 
(10
)
 
Other income (expense)
      Less income tax effect
(9
)
 
(11
)
 
Income tax benefit
 
71

 
90

 
 
Total reclassifications during the period
$
(1,698
)
 
$
(91
)