v3.25.1
Derivative Financial Instruments (Tables)
 3 Months Ended
May 03, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule 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 May 3, 2025Fair Value at Feb 1, 2025Derivative Balance Sheet Location
ASSETS:   
Derivatives designated as hedging instruments:   
Cash flow hedges:
   Foreign exchange currency contracts$15 $7,456 Other current assets/Other assets
Total derivatives designated as hedging instruments15 7,456 
Derivatives not designated as hedging instruments:  
Foreign exchange currency contracts— 3,011 Other current assets
2028 Bond Hedge5,809 11,252 Other assets
Total derivatives not designated as hedging instruments5,809 14,263 
Total$5,824 $21,719  
LIABILITIES:   
Derivatives designated as hedging instruments:   
Cash flow hedges:
   Foreign exchange currency contracts$10,486 $— Accrued expenses/Other long-term liabilities
Total derivatives designated as hedging instruments10,486 — 
Derivatives not designated as hedging instruments:   
Foreign exchange currency contracts4,772 8 Accrued expenses and other current liabilities
Embedded derivative1,270 2,460 Convertible senior notes due 2028, net
Total derivatives not designated as hedging instruments6,042 2,468 
Total$16,528 $2,468  
Schedule of Gains (Losses) Before Taxes Recognized on the Derivative Instruments Designated as Cash Flow Hedges
The following summarizes the gains (losses) before income taxes recognized on derivative instruments designated as cash flow hedges in other comprehensive income (loss) (“OCL”) and net earnings (loss) (in thousands): 
Gain (Loss) Recognized in OCL
Gain (Loss) Reclassified from AOCL into Earnings (Loss)Location of Gain (Loss) Reclassified from AOCL into Earnings (Loss)
May 3, 2025May 4, 2024May 3, 2025May 4, 2024
Three Months Ended
Derivatives designated as cash flow hedges:  
Foreign exchange currency contracts$(16,418)$1,171 $958 $(2,045)Cost of product sales
Interest rate swap$— $193 $— $155 Interest expense
Schedule of Net After-tax Derivative Activity Recorded in Accumulated Other Comprehensive Income (Loss)
The following summarizes net after income tax derivative activity recorded in AOCL (in thousands):
 Three Months Ended
 May 3, 2025May 4, 2024
Beginning balance gain (loss)$7,300 $(544)
Net gain (loss) from changes in cash flow hedges(14,612)1,145 
Net (gain) loss reclassified into earnings (loss)(853)1,620 
Ending balance gain (loss)$(8,165)$2,221 
Schedule of Derivative Instruments Not Designated as Hedging Instruments
The following summarizes the gains (losses) before income taxes recognized on derivative instruments not designated as hedging instruments in other income (expense) (in thousands):
 Location of Gain (Loss) Recognized in Earnings (Loss)Gain (Loss) Recognized in Earnings (Loss)
Three Months Ended
 May 3, 2025May 4, 2024
Foreign exchange currency contractsOther income, net$(7,821)$521 
2028 Bond HedgeOther income, net$(5,443)$45,813 
Embedded derivativesOther income, net$1,190 $(7,302)