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Derivative Financial Instruments (Tables)
 9 Months Ended
Oct. 31, 2020
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 October 31, 2020 and February 1, 2020 is as follows (in thousands):
 Derivative Balance Sheet LocationFair Value at Oct 31, 2020Fair Value at Feb 1, 2020
ASSETS:   
Derivatives designated as hedging instruments:   
Cash flow hedges:
   Foreign exchange currency contractsOther current assets/
Other assets		$522 $3,987 
Derivatives not designated as hedging instruments:  
Foreign exchange currency contractsOther current assets/
Other assets		— 867 
Total $522 $4,854 
LIABILITIES:   
Derivatives designated as hedging instruments:   
Cash flow hedges:
   Foreign exchange currency contractsAccrued expenses$1,744 $— 
   Interest rate swapOther long-term liabilities1,098 348 
Total derivatives designated as hedging instruments2,842 348 
Derivatives not designated as hedging instruments:   
Foreign exchange currency contractsAccrued expenses848 — 
Total $3,690 $348 
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 nine months ended October 31, 2020 and November 2, 2019 (in thousands): 
 
Gains (Losses) Recognized in OCI
Location of Gains (Losses) Reclassified from Accumulated OCI into EarningsGains (Losses) Reclassified from Accumulated OCI into Earnings
Three Months EndedThree Months Ended
 Oct 31, 2020Nov 2, 2019Oct 31, 2020Nov 2, 2019
Derivatives designated as cash flow hedges:     
Foreign exchange currency contracts$1,314 $958 Cost of product sales$1,804 $2,826 
Interest rate swap151 (99)Interest expense(67)28 
 
Gains (Losses) Recognized in OCI
Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Loss)Gains (Losses) Reclassified from Accumulated OCI into Earnings (Loss)
Nine Months EndedNine Months Ended
 Oct 31, 2020Nov 2, 2019Oct 31, 2020Nov 2, 2019
Derivatives designated as cash flow hedges:     
Foreign exchange currency contracts$(2,034)$8,676 Cost of product sales$6,299 $4,813 
Interest rate swap(862)(1,095)Interest expense(112)118 
Summary of net after-tax derivative activity recorded in accumulated other comprehensive income (loss)
The following table summarizes net after-tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands):
 Three Months EndedNine Months Ended
 Oct 31, 2020Nov 2, 2019Oct 31, 2020Nov 2, 2019
Beginning balance gain (loss)$(1,499)$9,069 $6,300 $2,999 
Cumulative adjustment from adoption of new accounting guidance1
— — — 1,981 
Net gains (losses) from changes in cash flow hedges1,286 776 (2,546)6,618 
Net gains reclassified into earnings (loss)(1,553)(2,527)(5,520)(4,280)
Ending balance gain (loss)$(1,766)$7,318 $(1,766)$7,318 
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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 $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.
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 (expense) for the three and nine months ended October 31, 2020 and November 2, 2019 (in thousands):
 Location of Gain (Loss) Recognized in Earnings (Loss)Gain (Loss) Recognized in Earnings (Loss)
Three Months EndedNine Months Ended
 Oct 31, 2020Nov 2, 2019Oct 31, 2020Nov 2, 2019
Derivatives not designated as hedging instruments:   
Foreign exchange currency contractsOther income (expense)$506 $(184)$(3,112)$624