Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 30, 2022

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 is (in thousands):

	Fair Value at Apr 30, 2022		Fair Value at Jan 29, 2022		Derivative Balance Sheet Location
ASSETS:
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign exchange currency contracts	$	11,912	$	5,999	Other current assets/ Other assets
Interest rate swap	764		—		Other assets
Total derivatives designated as hedging instruments	12,676		5,999
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	2,374		1,134		Other current assets
Total	$	15,050	$	7,133
LIABILITIES:
Derivatives designated as hedging instruments:
Cash flow hedges:
Interest rate swap	$	—	74		Other long-term liabilities
Total derivatives designated as hedging instruments	—		74
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	—		—		Accrued expenses and other current liabilities
Total	$	—	$	74

Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges

The following summarizes the gains (losses) before income taxes recognized on derivative instruments designated as cash flow hedges in OCI and net earnings (in thousands): 

	Gains Recognized in OCI				Location of Gains (Losses) Reclassified from Accumulated OCI into Earnings	Gains (Losses) Reclassified from Accumulated OCI into Earnings
	Apr 30, 2022		May 1, 2021			Apr 30, 2022		May 1, 2021
	Three Months Ended
Derivatives designated as cash flow hedges:
Foreign exchange currency contracts	$	7,826	$	1,511	Cost of product sales	$	1,674	$	(462)
Interest rate swap	777		270		Interest expense	(61)		64

Summary of net after-tax derivative activity recorded in accumulated other comprehensive income (loss)

The following summarizes net after income tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands):

	Three Months Ended
	Apr 30, 2022		May 1, 2021
Beginning balance gain (loss)	$	7,280	$	(4,876)
Net gains from changes in cash flow hedges	7,563		1,553
Net (gains) losses reclassified into earnings	(1,443)		460
Ending balance gain (loss)	$	13,400	$	(2,863)

Summary of gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income (expense)

The following summarizes the gains before income taxes recognized on derivative instruments not designated as hedging instruments in other income (expense) (in thousands):

	Location of Gains Recognized in Earnings	Gains Recognized in Earnings
		Three Months Ended
		Apr 30, 2022		May 1, 2021
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	Other expense	$	1,580	$	71