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Stockholders' Equity
 9 Months Ended
Oct. 30, 2021
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Share Repurchase Program
On August 23, 2021, the Company’s Board of Directors terminated the previously authorized 2012 share repurchase program (which had $47.8 million capacity remaining) and authorized a new program (the “2021 Share Repurchase Program”) to repurchase, from time-to-time and as market and business conditions warrant, up to $200 million of the Company’s common stock. Repurchases may be made on the open market or in privately negotiated transactions, pursuant to Rule 10b5-1 trading plans or other available means. There is no minimum or maximum number of shares to be repurchased under the program and the program may be discontinued at any time, without prior notice.
During the three and nine months ended October 30, 2021, there were no shares repurchased under the Company’s 2021 or 2012 Share Repurchase Program. There were 4,000,000 shares repurchased at an aggregate cost of $38.8 million under the 2012 program during the nine months ended October 31, 2020. The shares were repurchased during the three months ended August 1, 2020. As of October 30, 2021, the Company had remaining authority under the 2021 Share Repurchase Program to purchase $200 million of its common stock.
Dividends
The following sets forth the cash dividend declared per share:
Three Months EndedNine Months Ended
Oct 30, 2021Oct 31, 2020Oct 30, 2021Oct 31, 2020
Cash dividend declared per share$0.1125 $0.1125 $0.3375 $0.1125 
On November 23, 2021, the Company announced an increase to its regular quarterly cash dividend from $0.1125 to $0.225 per share on the Company’s common stock. In connection with the increase to the quarterly cash dividend, the Company will adjust the conversion rate (which is expected to increase) and the conversion price (which is expected to decrease) of the convertible senior notes in accordance with the terms of the indenture governing the convertible senior notes, to be effective as of December 7, 2021. Refer to Note 17 for more information.
During the first and second quarters of fiscal 2021, the Company announced that its Board of Directors had deferred the decision with respect to the payment of its quarterly cash dividend, in light of the uncertainties related to the COVID-19 pandemic. The Company resumed paying its quarterly cash dividend of $0.1125 per share beginning in the third quarter of fiscal 2021, but decided to not declare any cash dividends for the first and second quarters of fiscal 2021.
For each of the periods presented, dividends paid also included the impact from vesting of restricted stock units that are considered non-participating securities and are only entitled to dividend payments once the respective awards vest.
Decisions on whether, when and in what amounts to continue making any future dividend distributions will remain at all times entirely at the discretion of the Company’s Board of Directors, which reserves the right to change or terminate the Company’s dividend practices at any time and for any reason without prior notice. The payment of cash dividends in the future will be based upon a number of business, legal and other considerations, including the Company’s cash flow from operations, capital expenditures, debt service and covenant requirements, cash paid for income taxes, earnings, share repurchases, economic conditions and U.S. and global liquidity.
Accumulated Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income (loss), net of related income taxes, are (in thousands):
Foreign Currency Translation AdjustmentDerivative Financial Instruments Designated as Cash Flow HedgesDefined Benefit PlansTotal
Three Months Ended Oct 30, 2021
Balance at July 31, 2021$(113,728)$(602)$(9,598)$(123,928)
Gains (losses) arising during the period(7,283)2,701 48 (4,534)
Reclassification to net earnings for losses realized— 1,185 77 1,262 
Net other comprehensive income (loss)(7,283)3,886 125 (3,272)
Balance at October 30, 2021$(121,011)$3,284 $(9,473)$(127,200)
Nine Months Ended Oct 30, 2021
Balance at January 30, 2021$(105,970)$(4,876)$(9,829)$(120,675)
Gains (losses) arising during the period(15,041)5,725 125(9,191)
Reclassification to net earnings for losses realized
— 2,435 2312,666 
Net other comprehensive income (loss)(15,041)8,160 356 (6,525)
Balance at October 30, 2021$(121,011)$3,284 $(9,473)$(127,200)
Three Months Ended Oct 31, 2020
Balance at August 1, 2020$(121,119)$(1,499)$(8,991)$(131,609)
Gains (losses) arising during the period(2,209)1,286 (2)(925)
Reclassification to net earnings for (gains) losses realized— (1,553)74 (1,479)
Net other comprehensive income (loss)(2,209)(267)72 (2,404)
Balance at October 31, 2020$(123,328)$(1,766)$(8,919)$(134,013)
Nine Months Ended Oct 31, 2020
Balance at February 1, 2020$(137,289)$6,300 $(8,921)$(139,910)
Gains (losses) arising during the period13,961 (2,546)(214)11,201 
Reclassification to net loss for (gains) losses realized— (5,520)216 (5,304)
Net other comprehensive income (loss)13,961 (8,066)2 5,897 
Balance at October 31, 2020$(123,328)$(1,766)$(8,919)$(134,013)
Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss) are (in thousands):
Three Months EndedNine Months EndedLocation of (Gain) Loss Reclassified from Accumulated OCI into Earnings (Loss)
Oct 30, 2021Oct 31, 2020Oct 30, 2021Oct 31, 2020
Derivative financial instruments designated as cash flow hedges:
Foreign exchange currency contracts$1,270 $(1,804)$2,561 $(6,299)Cost of product sales
Interest rate swap72 67 203 112 Interest expense
      Less income tax effect(157)184 (329)667 Income tax expense (benefit)
1,185 (1,553)2,435 (5,520)
Defined benefit plans:
Net actuarial loss amortization106 101 317 294 Other income (expense)
Prior service credit amortization(16)(17)(50)(49)Other income (expense)
      Less income tax effect(13)(10)(36)(29)Income tax expense (benefit)
77 74 231 216 
Total reclassifications during the period$1,262 $(1,479)$2,666 $(5,304)