0000078239-20-000095 | 10-Q | XBRL Viewer

Cost of goods sold (exclusive of depreciation and amortization)

^[1]

$ 1,580.7

^[2]

$ 2,364.2

$ 2,924.7

^[2]

$ 4,720.5

697.4

1,075.8

1,375.5

2,136.2

Gross profit

883.3

1,288.4

1,549.2

2,584.3

Selling, general and administrative expenses

882.2

1,154.5

1,822.3

2,316.0

0.0

933.5

0.0

(0.7)

(1.9)

(4.3)

(4.1)

0.0

5.2

Equity in net (loss) income of unconsolidated affiliates

0.0

(113.1)

3.1

(113.1)

(3.5)

0.9

(14.7)

4.6

(Loss) income before taxes

^[3]

(1.7)

^[4]

249.8

(1,220.1)

^[4]

384.9

Interest expense

32.7

28.3

55.2

59.3

Interest income

0.6

1.3

1.9

2.4

(33.8)

222.8

(1,273.4)

328.0

Income tax expense (benefit)

17.9

29.7

(124.5)

53.3

Net (loss) income

(51.7)

193.1

(1,148.9)

274.7

Less: Net loss attributable to redeemable non-controlling interest

(0.3)

(0.4)

(0.7)

(0.8)

Net (loss) income attributable to PVH Corp.

$ (51.4)

$ 193.5

$ (1,148.2)

$ 275.5

Basic net (loss) income per common share attributable to PVH Corp.

$ (0.72)

$ 2.59

$ (16.12)

$ 3.67

Diluted net (loss) income per common share attributable to PVH Corp.

$ (0.72)

$ 2.58

$ (16.12)

$ 3.65

Net sales

$ 1,531.2

$ 2,249.0

$ 2,788.4

$ 4,486.3

Royalty revenue

Advertising and other revenue

37.0

85.8

106.0

175.2

Adjustments to reconcile to net cash provided by operating activities:

$ 12.5

$ 29.4

$ 30.3

$ 59.0

[1]	Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[2]	Revenue was significantly negatively impacted by the COVID-19 pandemic, including as a result of temporary store closures and reduced traffic and consumer spending trends. The Company’s wholesale customers and licensing partners also experienced significant business disruptions as a result of the pandemic, resulting in a decrease in the Company’s revenue from these channels
[3]	(Loss) Income before interest and taxes was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[4]	(Loss) Income before interest and taxes was significantly negatively impacted by the COVID-19 pandemic, including as a result of the unprecedented decline in revenue noted above. As well, (loss) income before interest and taxes for the twenty-six weeks ended August 2, 2020 was significantly adversely impacted by $961.8 million of noncash impairment charges related to goodwill, tradenames, other intangible assets, store assets and an equity method investment resulting from the significant adverse impacts of the COVID-19 on the Company’s business.

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Net (loss) income	$ (51.7)	$ 193.1	$ (1,148.9)	$ 274.7
Foreign currency translation adjustments	243.4	(30.7)	130.8	(142.3)
Net unrealized and realized (loss) gain related to effective cash flow hedges, net of tax	(50.8)	(0.5)	(43.0)	12.9
Net (loss) gain on net investment hedges, net of tax	(81.8)	3.5	(70.3)	25.9
Total other comprehensive income (loss)	110.8	(27.7)	17.5	(103.5)
Comprehensive income (loss)	59.1	165.4	(1,131.4)	171.2
Less: Comprehensive loss attributable to redeemable non-controlling interest	(0.3)	(0.4)	(0.7)	(0.8)
Comprehensive income (loss) attributable to PVH Corp.	59.4	165.8	(1,130.7)	172.0
Net unrealized and realized (loss) gain related to effective cash flow hedges, tax benefit	5.7	1.8	1.6	1.4
Net (loss) gain on net investment hedges, tax (benefit) expense	$ (26.3)	$ 1.1	$ (22.6)	$ 8.3

Consolidated Balance Sheets - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020
Current Assets:
Cash and cash equivalents	$ 1,394.3	$ 433.5	$ 1,394.3	$ 433.5	$ 503.4
Trade receivables, net of allowances for credit losses of $76.9, $21.1 and $22.2	568.8	781.0	568.8	781.0	741.4
Other receivables	27.4	27.9	27.4	27.9	23.7
Inventories, net	1,642.2	1,862.1	1,642.2	1,862.1	1,615.7
Prepaid expenses	158.6	183.3	158.6	183.3	159.9
Other	55.5	110.8	55.5	110.8	112.9
Assets held for sale	0.0	0.0	0.0	0.0	237.2
Total Current Assets	3,846.8	3,398.6	3,846.8	3,398.6	3,394.2
Property, Plant and Equipment, net	979.1	973.4	979.1	973.4	1,026.8
Operating Lease Right-of-Use Assets	1,692.5	1,660.7	1,692.5	1,660.7	1,675.8
Goodwill	2,885.4	3,736.9	2,885.4	3,736.9	3,677.6
Tradenames	2,846.6	2,834.5	2,846.6	2,834.5	2,830.2
Other Intangibles, net	637.2	889.7	637.2	889.7	650.5
Other Assets, including deferred taxes of $61.6, $40.3 and $27.8	364.9	327.1	364.9	327.1	375.9
Total Assets	13,252.5	13,820.9	13,252.5	13,820.9	13,631.0
Current Liabilities:
Accounts payable	1,048.2	930.2	1,048.2	930.2	882.8
Accrued expenses	917.2	859.0	917.2	859.0	929.6
Deferred revenue	49.6	68.9	49.6	68.9	64.7
Current portion of operating lease liabilities	425.7	345.2	425.7	345.2	363.5
Short-term borrowings	70.6	183.2	70.6	183.2	49.6
Current portion of long-term debt	14.8	41.2	14.8	41.2	13.8
Liabilities related to assets held for sale	0.0	0.0	0.0	0.0	57.1
Total Current Liabilities	2,526.1	2,427.7	2,526.1	2,427.7	2,361.1
Long-Term Portion of Operating Lease Liabilities	1,532.1	1,535.5	1,532.1	1,535.5	1,532.0
Long-Term Debt	3,498.3	2,743.0	3,498.3	2,743.0	2,693.9
Deferred Tax Liabilities, Tax Deferred Income	418.3	599.1	418.3	599.1	558.1
Other Liabilities, including deferred taxes of $418.3, $558.1 and $599.1	1,115.2	1,243.6	1,115.2	1,243.6	1,234.5
Redeemable Non-Controlling Interest	(2.7)	(0.6)	(2.7)	(0.6)	(2.0)
Stockholders' Equity:
Preferred stock, par value $100 per share; 150,000 total shares authorized	0.0	0.0	0.0	0.0	0.0
Common stock, par value $1 per share; 240,000,000 shares authorized; 86,207,159; 85,890,276 and 85,865,984 shares issued	86.2	85.9	86.2	85.9	85.9
Additional paid in capital - common stock	3,096.9	3,047.0	3,096.9	3,047.0	3,075.4
Retained earnings	3,601.1	4,614.0	3,601.1	4,614.0	4,753.0
Accumulated other comprehensive loss	(622.6)	(611.4)	(622.6)	(611.4)	(640.1)
Less: 15,117,098; 13,597,113 and 11,414,035 shares of common stock held in treasury, at cost	(1,578.1)	(1,263.8)	(1,578.1)	(1,263.8)	(1,462.7)
Total Stockholders' Equity	4,583.5	5,871.7	4,583.5	5,871.7	5,811.5
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity	13,252.5	13,820.9	13,252.5	13,820.9	13,631.0
Allowance for credit losses	$ 76.9	22.2	$ 76.9	22.2	21.1
Preferred stock, par value (in dollars per share)	$ 100		$ 100
Preferred stock, shares authorized (in shares)	150,000		150,000
Other Assets, including deferred taxes of $61.6, $40.3 and $27.8	$ 61.6	27.8	$ 61.6	27.8	$ 40.3
Less: Net loss attributable to redeemable non-controlling interest	$ (0.3)	$ (0.4)	$ (0.7)	$ (0.8)
Common stock, par value (in dollars per share)	$ 1		$ 1
Common stock, shares authorized (in shares)	240,000,000		240,000,000
Common stock, shares issued (in shares)	86,207,159	85,865,984	86,207,159	85,865,984	85,890,276
Shares of common stock held in treasury, at cost (in shares)	15,117,098	11,414,035	15,117,098	11,414,035	13,597,113

Consolidated Statements of Cash Flows - USD ($)
$ in Millions

6 Months Ended

Aug. 02, 2020

Aug. 04, 2019

OPERATING ACTIVITIES

Net (loss) income

$ (1,148.9)

$ 274.7

Depreciation and amortization

160.0

154.9

Equity in net loss (income) of unconsolidated affiliates

14.7

(4.6)

Deferred taxes

(150.8)

(20.6)

Stock-based compensation expense

21.8

28.3

Impairment of goodwill and other intangible assets

933.5

0.0

Impairment of other long-lived assets

23.2

87.8

^[1]

961.8

Other noncash (loss) gain

0.0

5.2

3.1

(113.1)

Changes in operating assets and liabilities:

Trade receivables, net

192.7

(4.4)

Other receivables

(4.3)

(0.6)

Inventories, net

25.3

(66.6)

Accounts payable, accrued expenses and deferred revenue

78.6

(1.3)

Prepaid expenses

5.2

(37.0)

Other, net

93.9

15.2

Net cash provided by operating activities

248.0

317.9

INVESTING ACTIVITIES

Acquisitions, net of cash acquired

0.0

(192.3)

Purchases of property, plant and equipment

(107.6)

(150.5)

Proceeds from sale of building

0.0

59.4

Proceeds from sale of the Speedo North America business

169.1

0.0

Net cash provided (used) by investing activities

^[2]

61.5

(283.4)

FINANCING ACTIVITIES

Net proceeds from short-term borrowings

15.3

119.9

Proceeds from 4 5/8% senior notes, net of related fees

494.8

0.0

Proceeds from 3 5/8% senior notes, net of related fees

185.9

0.0

Proceeds from 2019 facilities, net of related fees

0.0

1,639.8

Repayment of 2016 facilities

0.0

(1,649.3)

Repayment of 2019 facilities

(6.9)

0.0

Net proceeds from settlement of awards under stock plans

0.0

1.9

Cash dividends

(2.7)

(8.5)

Acquisition of treasury shares

(115.9)

(144.7)

Payments of finance lease liabilities

(2.7)

(2.9)

Payment of mandatorily redeemable non-controlling interest liability attributable to initial fair value

(12.7)

0.0

Net cash provided (used) by financing activities

^[2]

555.1

(43.8)

Effect of exchange rate changes on cash and cash equivalents

26.3

(9.2)

Increase (decrease) in cash and cash equivalents

890.9

(18.5)

Cash and cash equivalents at beginning of period

503.4

452.0

Cash and cash equivalents at end of period

$ 1,394.3

$ 433.5

[1]

(Loss) Income before interest and taxes was significantly negatively impacted by the COVID-19 pandemic, including as a result of the unprecedented decline in revenue noted above. As well, (loss) income before interest and taxes for the twenty-six weeks ended August 2, 2020 was significantly adversely impacted by $961.8 million of noncash impairment charges related to goodwill, tradenames, other intangible assets, store assets and an equity method investment resulting from the significant adverse impacts of the COVID-19 on the Company’s business.

[2]

See Note 18 for information on Supplemental Cash Flow Information.

Consolidated Statements of Changes in Stockholders' Equity Statement - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Redeemable Non-Controlling Interest [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid in Capital - Common Stock [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Total Stockholders' Equity	Total Stockholders' Equity Cumulative Effect, Period of Adoption, Adjustment
Balance at Feb. 03, 2019			$ 0.2	$ 0.0	$ 85.4	$ 3,017.3	$ 4,350.1		$ (507.9)	$ (1,117.1)	$ 5,827.8
Balance (Cumulative-effect adjustment related to the adoption of accounting guidance for leases) at Feb. 03, 2019								$ (3.1)				$ (3.1)
Balance (in shares) at Feb. 03, 2019					85,446,141
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income gain (loss) attributable to PVH Corp.							82.0				82.0
Foreign currency translation adjustments									(111.6)		(111.6)
Net unrealized and realized (loss) gain related to effective cash flow hedges, net of tax									13.4		13.4
Net unrealized and realized (loss) gain related to effective cash flow hedges, tax expense (benefit)	$ 0.4
Net gain on net investment hedges, net of tax									22.4		22.4
Net (loss) gain on net investment hedges, tax (benefit) expense	$ 7.2
Comprehensive income (loss) attributable to PVH Corp.											6.2
Settlement of awards under stock plans (in shares)					371,129
Settlement of awards under stock plans					$ 0.4	1.5					1.9
Stock-based compensation expense						13.9					13.9
Cash dividends							(5.7)				(5.7)
Cash dividends paid per share	$ 0.075
Acquisition of treasury shares during period										(79.5)	(79.5)
Acquisition of treasury shares, number of shares repurchased	659,630
Net loss attributable to redeemable non-controlling interest			(0.4)
Balance at May. 05, 2019			(0.2)	0.0	$ 85.8	3,032.7	4,423.3		(583.7)	(1,196.6)	5,761.5
Balance (in shares) at May. 05, 2019					85,817,270
Balance at Feb. 03, 2019			0.2	0.0	$ 85.4	3,017.3	4,350.1		(507.9)	(1,117.1)	5,827.8
Balance (Cumulative-effect adjustment related to the adoption of accounting guidance for leases) at Feb. 03, 2019								(3.1)				(3.1)
Balance (in shares) at Feb. 03, 2019					85,446,141
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income gain (loss) attributable to PVH Corp.	$ 275.5
Foreign currency translation adjustments	(142.3)
Net unrealized and realized (loss) gain related to effective cash flow hedges, net of tax	12.9
Net unrealized and realized (loss) gain related to effective cash flow hedges, tax expense (benefit)	(1.4)
Net gain on net investment hedges, net of tax	(25.9)
Net (loss) gain on net investment hedges, tax (benefit) expense	8.3
Comprehensive income (loss) attributable to PVH Corp.	172.0
Cash dividends	(8.5)
Balance at Aug. 04, 2019	$ 5,871.7		(0.6)	0.0	$ 85.9	3,047.0	4,614.0		(611.4)	(1,263.8)	5,871.7
Balance (in shares) at Aug. 04, 2019	85,865,984				85,865,984
Balance at May. 05, 2019			(0.2)	0.0	$ 85.8	3,032.7	4,423.3		(583.7)	(1,196.6)	5,761.5
Balance (in shares) at May. 05, 2019					85,817,270
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income gain (loss) attributable to PVH Corp.	$ 193.5						193.5				193.5
Foreign currency translation adjustments	(30.7)								(30.7)		(30.7)
Net unrealized and realized (loss) gain related to effective cash flow hedges, net of tax	(0.5)								(0.5)		(0.5)
Net unrealized and realized (loss) gain related to effective cash flow hedges, tax expense (benefit)	(1.8)
Net gain on net investment hedges, net of tax	(3.5)								3.5		3.5
Net (loss) gain on net investment hedges, tax (benefit) expense	1.1
Comprehensive income (loss) attributable to PVH Corp.	$ 165.8										165.8
Settlement of awards under stock plans (in shares)					48,714
Settlement of awards under stock plans					$ 0.1	(0.1)					0.0
Stock-based compensation expense						14.4					14.4
Cash dividends							(2.8)				(2.8)
Cash dividends paid per share	$ 0.0375
Acquisition of treasury shares during period										(67.2)	(67.2)
Acquisition of treasury shares, number of shares repurchased	711,895
Net loss attributable to redeemable non-controlling interest			(0.4)
Balance at Aug. 04, 2019	$ 5,871.7		(0.6)	0.0	$ 85.9	3,047.0	4,614.0		(611.4)	(1,263.8)	5,871.7
Balance (in shares) at Aug. 04, 2019	85,865,984				85,865,984
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redeemable Noncontrolling Interest	$ 0.6
Retained earnings	4,614.0
Redeemable Noncontrolling Interest	2.0
Retained earnings	4,753.0
Retained earnings \| Cumulative-effect adjustment related to the adoption of accounting guidance for credit losses		$ 1.0
Balance at Feb. 02, 2020	$ 5,811.5		(2.0)	0.0	$ 85.9	3,075.4	4,753.0		(640.1)	(1,462.7)	5,811.5
Balance (Cumulative-effect adjustment related to the adoption of accounting guidance for credit losses) at Feb. 02, 2020								(1.0)				(1.0)
Balance (in shares) at Feb. 02, 2020	85,890,276				85,890,276
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income gain (loss) attributable to PVH Corp.							(1,096.8)				(1,096.8)
Foreign currency translation adjustments									(112.6)		(112.6)
Net unrealized and realized (loss) gain related to effective cash flow hedges, net of tax									7.8		7.8
Net unrealized and realized (loss) gain related to effective cash flow hedges, tax expense (benefit)	$ 4.1
Net gain on net investment hedges, net of tax									11.5		11.5
Net (loss) gain on net investment hedges, tax (benefit) expense	$ 3.7
Comprehensive income (loss) attributable to PVH Corp.											(1,190.1)
Settlement of awards under stock plans (in shares)					232,707
Settlement of awards under stock plans					$ 0.2	(0.2)					0.0
Stock-based compensation expense						10.0					10.0
Cash dividends							(2.7)				(2.7)
Cash dividends paid per share	$ 0.0375
Acquisition of treasury shares during period										(114.3)	(114.3)
Acquisition of treasury shares, number of shares repurchased	1,497,725
Net loss attributable to redeemable non-controlling interest			(0.4)
Balance at May. 03, 2020			(2.4)	0.0	$ 86.1	3,085.2	3,652.5		(733.4)	(1,577.0)	4,513.4
Balance (in shares) at May. 03, 2020					86,122,983
Balance at Feb. 02, 2020	$ 5,811.5		(2.0)	0.0	$ 85.9	3,075.4	4,753.0		(640.1)	(1,462.7)	5,811.5
Balance (Cumulative-effect adjustment related to the adoption of accounting guidance for credit losses) at Feb. 02, 2020								$ (1.0)				$ (1.0)
Balance (in shares) at Feb. 02, 2020	85,890,276				85,890,276
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income gain (loss) attributable to PVH Corp.	$ (1,148.2)
Foreign currency translation adjustments	130.8
Net unrealized and realized (loss) gain related to effective cash flow hedges, net of tax	(43.0)
Net unrealized and realized (loss) gain related to effective cash flow hedges, tax expense (benefit)	(1.6)
Net gain on net investment hedges, net of tax	70.3
Net (loss) gain on net investment hedges, tax (benefit) expense	(22.6)
Comprehensive income (loss) attributable to PVH Corp.	(1,130.7)
Cash dividends	$ (2.7)
Cash dividends paid per share	$ 0.0375
Balance at Aug. 02, 2020	$ 4,583.5			0.0	$ 86.2	3,096.9	3,601.1		(622.6)	(1,578.1)	4,583.5
Balance (in shares) at Aug. 02, 2020	86,207,159				86,207,159
Balance at May. 03, 2020			(2.4)	0.0	$ 86.1	3,085.2	3,652.5		(733.4)	(1,577.0)	4,513.4
Balance (in shares) at May. 03, 2020					86,122,983
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income gain (loss) attributable to PVH Corp.	$ (51.4)						(51.4)				(51.4)
Foreign currency translation adjustments	243.4								243.4		243.4
Net unrealized and realized (loss) gain related to effective cash flow hedges, net of tax	(50.8)								(50.8)		(50.8)
Net unrealized and realized (loss) gain related to effective cash flow hedges, tax expense (benefit)	(5.7)
Net gain on net investment hedges, net of tax	81.8								(81.8)		(81.8)
Net (loss) gain on net investment hedges, tax (benefit) expense	(26.3)
Comprehensive income (loss) attributable to PVH Corp.	$ 59.4										59.4
Settlement of awards under stock plans (in shares)					84,176
Settlement of awards under stock plans					$ 0.1	(0.1)					0.0
Stock-based compensation expense						11.8					11.8
Acquisition of treasury shares during period										(1.1)	(1.1)
Acquisition of treasury shares, number of shares repurchased	22,260
Net loss attributable to redeemable non-controlling interest			(0.3)
Balance at Aug. 02, 2020	$ 4,583.5			$ 0.0	$ 86.2	$ 3,096.9	$ 3,601.1		$ (622.6)	$ (1,578.1)	$ 4,583.5
Balance (in shares) at Aug. 02, 2020	86,207,159				86,207,159
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redeemable Noncontrolling Interest	$ 2.7		$ (2.7)
Retained earnings	$ 3,601.1

GENERAL	6 Months Ended
GENERAL	Aug. 02, 2020
Notes to Financial Statements [Abstract]
GENERAL	GENERAL PVH Corp. and its consolidated subsidiaries (collectively, the “Company”) constitute a global apparel company with a brand portfolio consisting of nationally and internationally recognized trademarks, including TOMMY HILFIGER, CALVIN KLEIN, Van Heusen, IZOD, ARROW, Warner’s, Olga, True&Co. and Geoffrey Beene, which are owned, as well as various other owned, licensed and, to a lesser extent, private label brands. The Company designs and markets branded dress shirts, neckwear, sportswear (casual apparel), jeanswear, performance apparel, intimate apparel, underwear, swimwear, handbags, accessories, footwear and other related products and licenses its owned brands globally over a broad array of product categories and for use in numerous discrete jurisdictions. References to the aforementioned and other brand names are to registered and common law trademarks owned by the Company or licensed to the Company by third parties and are identified by italicizing the brand name. The Company also licensed Speedo for North America and the Caribbean from Speedo International Limited until April 6, 2020, at which time the Company completed the sale of its Speedo North America business to Pentland Group PLC (“Pentland”), the parent company of the Speedo brand (the “Speedo transaction”). Upon the closing of the transaction, the Company deconsolidated the net assets of the Speedo North America business and no longer licenses the Speedo trademark. The consolidated financial statements include the accounts of the Company. Intercompany accounts and transactions have been eliminated in consolidation. Investments in entities that the Company does not control but has the ability to exercise significant influence over are accounted for using the equity method of accounting. The Company’s Consolidated Statements of Operations include its proportionate share of the net income or loss of these entities. Please see Note 6, “Investments in Unconsolidated Affiliates,” for further discussion. The Company and Arvind Limited (“Arvind”) have a joint venture in Ethiopia, PVH Arvind Manufacturing Private Limited Company (“PVH Ethiopia”), in which the Company owns a 75% interest. PVH Ethiopia is consolidated and the minority shareholder’s proportionate share (25%) of the equity in this joint venture is accounted for as a redeemable non-controlling interest. Please see Note 5, “Redeemable Non-Controlling Interest,” for further discussion. The Company’s fiscal years are based on the 52-53 week periods ending on the Sunday closest to February 1 and are designated by the calendar year in which the fiscal year commences. References to a year are to the Company’s fiscal year, unless the context requires otherwise. The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States for interim financial information. Accordingly, they do not contain all disclosures required by accounting principles generally accepted in the United States for complete financial statements. Reference is made to the Company’s audited consolidated financial statements, including the notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended February 2, 2020. The preparation of the interim financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from these estimates. The results of operations for the thirteen and twenty-six weeks ended August 2, 2020 and August 4, 2019 are not necessarily indicative of those for a full fiscal year due, in part, to the COVID-19 pandemic and seasonal factors. The data contained in these consolidated financial statements are unaudited and are subject to year-end adjustments. However, in the opinion of management, all known adjustments have been made to present fairly the consolidated operating results for the unaudited periods. COVID-19 Pandemic The COVID-19 pandemic had a significant adverse impact on the Company’s business, results of operations, financial condition and cash flows from operations during the thirteen and twenty-six weeks ended August 2, 2020 and is expected to continue to have an adverse impact on its performance for the remainder of 2020. Virtually all of the Company’s retail stores were temporarily closed for varying periods of time throughout the first quarter and into the second quarter as a result of the pandemic. The majority of stores had reopened by mid-June but have been operating on reduced hours and at reduced occupancy levels. The Company’s wholesale customers and licensing partners also have experienced significant business disruptions, with several North America wholesale customers filing for bankruptcy, which was a contributing factor in the decrease in the Company’s revenue. In addition, the pandemic has impacted some of the Company’s suppliers, including third-party manufacturers, logistics providers and other vendors, and has also disrupted the supply chains of its licensees. These supply chains may experience future disruptions as a result of either closed factories or factories operating with reduced workforces due to the impact of the pandemic. Given the uncertainties surrounding the ongoing effects of the COVID-19 pandemic on the Company's future financial condition and results of operations, the Company took certain actions to preserve its liquidity and strengthen its financial flexibility. The Company suspended share repurchases under its stock repurchase program and suspended its dividends in mid-March, and is not permitted to resume share repurchases or payments of dividends until after the relief period (as defined) under the terms of a June 2020 amendment to its senior unsecured credit facilities. In addition, the Company took certain other actions, some of which are ongoing, to (i) reduce payroll costs, through temporary furloughs, salary and incentive compensation reductions, decreased working hours and hiring freezes, as well as taking advantage of COVID-related government payroll subsidy programs primarily in international jurisdictions, (ii) eliminate or reduce discretionary and variable operating expenses, including marketing, travel, consulting services, and creative and design costs, (iii) reduce rent expense through rent abatements negotiated with landlords for certain of its retail stores affected by temporary closures, (iv) reduce working capital, with a particular focus on tightly managing its inventories, including reducing and cancelling inventory commitments, redeploying basic inventory items to subsequent seasons and consolidating future seasonal collections, as well as negotiating extended payment terms with its suppliers and (v) reduce capital expenditures. In addition, the Company announced in July 2020 plans to streamline its North American operations to better align its business with the evolving retail landscape including (i) a reduction in its office workforce by approximately 450 positions, or 12%, across all three brand businesses and corporate functions, which is expected to result in annual cost savings of approximately $80 million, and (ii) the exit from its Heritage Brands Retail business by mid-2021. In April 2020, the Company entered into a $275.0 million 364-day unsecured revolving credit facility and issued an additional €175.0 million principal amount of 3 5/8% senior notes due 2024. In July 2020, the Company issued $500.0 million principal amount of 4 5/8% senior notes due 2025. In addition, in June 2020 the Company amended its senior unsecured credit facilities to provide temporary relief of certain financial covenants under these facilities during future periods. Please see Note 9, “Debt,” for further discussion. The Company also assessed the impacts of the pandemic on the estimates and assumptions used in preparing these consolidated financial statements, including, but not limited to, the allowance for credit losses, inventory reserves, carrying values of goodwill, intangible assets and other long-lived assets, and the effectiveness of hedging instruments. Based on these assessments, the Company recorded pre-tax noncash impairment charges of $961.8 million, including $879.0 million related to goodwill, $54.5 million related to other intangible assets, $16.0 million related to store assets and $12.3 million related to an equity method investment, and recorded increases to its inventory and inventory-related reserves and its allowance for credit losses of $60.7 million and $55.8 million, respectively, during the twenty-six weeks ended August 2, 2020. Please see Note 7, “Goodwill and Other Intangible Assets,” for further discussion of the impairments related to goodwill and other intangible assets, Note 12, “Fair Value Measurements,” for further discussion of the impairments related to store assets and Note 6, “Investments in Unconsolidated Affiliates,” for further discussion of the impairment related to an equity method investment. The estimates and assumptions used in these assessments were based on management’s judgment and may be subject to change as new events occur and additional information is received. In particular, there is significant uncertainty about the duration and extent of the impact of the COVID-19 pandemic and, if economic conditions caused by the pandemic do not recover as currently estimated by management, the Company’s results of operations, financial condition and cash flows from operations may be materially and adversely impacted.

REVENUE (Notes)

6 Months Ended

Aug. 02, 2020

Revenue [Abstract]

REVENUE

REVENUEThe Company generates revenue primarily from sales of finished products under its owned and, to a lesser extent, licensed trademarks through its wholesale and retail operations. The Company also generates royalty and advertising revenue from licensing the rights to its trademarks to third parties. Revenue is recognized upon the transfer of control of products or services to the Company’s customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those products or services.

Product Sales

The Company generates revenue from the wholesale distribution of its products to traditional retailers (including for sale through their digital commerce sites), pure play digital commerce retailers, franchisees, licensees and distributors. Revenue is recognized upon transfer of control of goods to the customer, which generally occurs when title to goods is passed and risk of loss transfers to the customer. Depending on the contract terms, transfer of control is upon shipment of goods to or upon receipt of goods by the customer. Payment is typically due within 30 to 90 days. The Company has provided temporary extensions to its standard payment terms for certain customers in connection with the COVID-19 pandemic. The amount of revenue recognized is net of returns, sales allowances and other discounts that the Company offers to its wholesale customers. The Company estimates returns based on an analysis of historical experience and specific customer arrangements and estimates sales allowances and other discounts based on seasonal negotiations, historical experience and an evaluation of current market conditions.

The Company also generates revenue from the retail distribution of its products through its freestanding stores, shop-in-shop/concession locations and digital commerce sites. Revenue is recognized at the point of sale in the stores and shop-in-shop/concession locations and upon estimated time of delivery for sales through the Company’s digital commerce sites, at which point control of the products passes to the customer. The amount of revenue recognized is net of returns, which are estimated based on an analysis of historical experience. Costs associated with coupons are recorded as a reduction of revenue at the time of coupon redemption.

The Company excludes from revenue taxes collected from customers and remitted to government authorities related to sales of the Company’s products. Shipping and handling costs that are billed to customers are included in net sales.

Customer Loyalty Programs

The Company uses loyalty programs that offer customers of its retail businesses specified amounts off of future purchases for a specified period of time after certain levels of spending are achieved. Customers that are enrolled in the programs earn loyalty points for each purchase made.

Loyalty points earned under the customer loyalty programs provide the customer a material right to acquire additional products and give rise to the Company having a separate performance obligation. For each transaction where a customer earns loyalty points, the Company allocates revenue between the products purchased and the loyalty points earned based on the relative standalone selling prices. Revenue allocated to loyalty points is recorded as deferred revenue until the loyalty points are redeemed or expire.

Gift Cards

The Company sells gift cards to customers in its retail stores. The Company does not charge administrative fees on gift cards nor do they expire. Gift card purchases by a customer are prepayments for products to be provided by the Company in the future and are therefore considered to be performance obligations of the Company. Upon the purchase of a gift card by a customer, the Company records deferred revenue for the cash value of the gift card. Deferred revenue is relieved and revenue is recognized when the gift card is redeemed by the customer. The portion of gift cards that the Company does not expect to be redeemed (referred to as “breakage”) is recognized proportionately over the estimated customer redemption period, subject to the constraint that it must be probable that a significant reversal of revenue will not occur, if the Company determines that it does not have a legal obligation to remit the value of such unredeemed gift cards to any jurisdiction.

License Agreements

The Company generates royalty and advertising revenue from licensing the rights to access its trademarks to third parties, including the Company’s joint ventures. The license agreements are generally exclusive to a territory or product category, have terms in excess of one year and, in most cases, include renewal options. In exchange for providing these rights, the license agreements require the licensees to pay the Company a royalty and, in certain agreements, an advertising fee. In both cases, the Company generally receives the greater of (i) a sales-based percentage fee and (ii) a contractual minimum fee for each annual performance period under the license agreement.

In addition to the rights to access its trademarks, the Company provides ongoing support to its licensees over the term of the agreements. As such, the Company’s license agreements are licenses of symbolic intellectual property and, therefore, revenue is recognized over time. For license agreements where the sales-based percentage fee exceeds the contractual minimum fee, the Company recognizes revenues as the licensed products are sold as reported to the Company by its licensees. For license

agreements where the sales-based percentage fee does not exceed the contractual minimum fee, the Company recognizes the contractual minimum fee as revenue ratably over the contractual period.

Under the terms of the license agreements, payments are generally due quarterly from the licensees. The Company has extended the payment terms for minimum payment obligations due from certain licensees in 2020 in connection with the COVID-19 pandemic. The Company records deferred revenue when amounts are received or receivable from the licensee in advance of the recognition of revenue.

As of August 2, 2020, the contractual minimum fees on the portion of all license agreements not yet satisfied totaled $1.1 billion, of which the Company expects to recognize $72.1 million as revenue during the remainder of 2020, $263.1 million in 2021 and $741.6 million thereafter.

Deferred Revenue

Changes in deferred revenue, which primarily relate to customer loyalty programs, gift cards and license agreements for the twenty-six weeks ended August 2, 2020 and August 4, 2019 were as follows:


(In millions)	Twenty-Six Weeks Ended
	8/2/20		8/4/19
Deferred revenue balance at beginning of period	$	64.7	$	65.3

Net additions to deferred revenue during the period	35.3		63.4
Reductions in deferred revenue for revenue recognized during the period ⁽¹⁾	(50.4)		(59.8)
Deferred revenue balance at end of period	$	49.6	$	68.9

⁽¹⁾ Represents the amount of revenue recognized during the period that was included in the deferred revenue balance at the beginning of the period and does not contemplate revenue recognized from amounts deferred during the period. These amounts include $7.8 million and $8.4 million of revenue recognized during the thirteen weeks ended August 2, 2020 and August 4, 2019, respectively.

The Company also had long-term deferred revenue liabilities included in other liabilities in its Consolidated Balance Sheets of $9.0 million, $10.3 million and $1.9 million as of August 2, 2020, February 2, 2020 and August 4, 2019, respectively.

Optional Exemptions

The Company elected not to disclose the remaining performance obligations for contracts that have an original expected term of one year or less and expected sales-based percentage fees for the portion of all license agreements not yet satisfied.

Please see Note 19, “Segment Data,” for information on the disaggregation of revenue by segment and distribution channel.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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INVENTORIES	6 Months Ended
INVENTORIES	Aug. 02, 2020
Notes to Financial Statements [Abstract]
INVENTORIES	INVENTORIESInventories are comprised principally of finished goods and are stated at the lower of cost or net realizable value, except for certain retail inventories in North America that are stated at the lower of cost or market using the retail inventory method. Cost for substantially all wholesale inventories in North America and certain wholesale and retail inventories in Asia is determined using the first-in, first-out method. Cost for all other inventories is determined using the weighted average cost method. The Company reviews current business trends, inventory aging and discontinued merchandise categories to determine adjustments that it estimates will be needed to liquidate existing clearance inventories and record inventories at either the lower of cost or net realizable value or the lower of cost or market using the retail inventory method, as applicable.

ACQUISITIONS AND DIVESTITURES

6 Months Ended

Aug. 02, 2020

ACQUISITIONS AND DIVESTITURES

TH CSAP Acquisition

The Company acquired on July 1, 2019 the Tommy Hilfiger retail business in Central and Southeast Asia from the Company’s previous licensee in that market (the “TH CSAP acquisition”). As a result of the TH CSAP acquisition, the Company now operates directly the Tommy Hilfiger retail business in the Central and Southeast Asia market.

The acquisition date fair value of the consideration paid was $74.3 million. The estimated fair value of the assets acquired consisted of $63.9 million of goodwill and $10.4 million of other net assets. The goodwill of $63.9 million was assigned as of the acquisition date to the Company’s Tommy Hilfiger International segment, which is the Company’s reporting unit that is expected to benefit from the synergies of the combination. Goodwill is not expected to be deductible for tax purposes. The Company finalized the purchase price allocation during the second quarter of 2020.

Australia Acquisition

The Company acquired on May 31, 2019 the approximately 78% ownership interest in Gazal Corporation Limited (“Gazal”) that it did not already own (the “Australia acquisition”). Prior to the Australia acquisition, the Company and Gazal jointly owned and managed a joint venture, PVH Brands Australia Pty. Limited (“PVH Australia”), with each owning a 50% interest. PVH Australia licensed and operated businesses in Australia, New Zealand and other parts of Oceania under the TOMMY HILFIGER, CALVIN KLEIN and Van Heusen brands, along with other owned and licensed brands. PVH Australia came under the Company’s full control as a result of the acquisition. The Company now operates directly those businesses.

Prior to May 31, 2019, the Company accounted for its approximately 22% interest in Gazal and its 50% interest in PVH Australia under the equity method of accounting. Following the completion of the Australia acquisition, the results of Gazal and PVH Australia have been consolidated in the Company’s consolidated financial statements.

Gain on Previously Held Equity Investments

The carrying values of the Company’s approximately 22% interest in Gazal and 50% interest in PVH Australia prior to the acquisition were $16.5 million and $41.9 million, respectively. In connection with the acquisition, these investments were remeasured to fair values of $40.1 million and $131.4 million, respectively, resulting in the recognition of an aggregate noncash gain of $113.1 million during the second quarter of 2019, which was included in other noncash (gain) loss in the Company’s Consolidated Statements of Operations.

The fair value of the Company’s investment in Gazal was determined using the trading price of Gazal’s common stock, which was listed on the Australian Securities Exchange, on the date of the acquisition. The Company classified this as a Level 1 fair value measurement due to the use of an unadjusted quoted price in an active market. The fair value of Gazal included the fair value of Gazal’s 50% interest in PVH Australia. As such, the Company derived the fair value of its investment in PVH Australia from the fair value of Gazal by adjusting for (i) Gazal’s non-operating assets and net debt position and (ii) the estimated future operating cash flows of Gazal’s standalone operations, which were discounted at a rate of 12.5% to account for the relative risks of the estimated future cash flows. The Company classified this as a Level 3 fair value measurement due to the use of significant unobservable inputs.

Mandatorily Redeemable Non-Controlling Interest

Pursuant to the terms of the acquisition agreement, key executives of Gazal and PVH Australia exchanged a portion of their interests in Gazal for approximately 6% of the outstanding shares of the Company’s previously wholly owned subsidiary that acquired 100% of the ownership interests in the Australia business. The Company is obligated to purchase this 6% interest within two years of the acquisition closing in two tranches as follows: tranche 1 – 50% of the shares one year after the closing, but the holders had the option to defer half of this tranche to tranche 2; and tranche 2 – all remaining shares two years after the closing. With respect to tranche 1, the holders elected not to defer their shares and, as a result, the Company purchased all of the tranche 1 shares in June 2020. The purchase price for the tranche 1 and tranche 2 shares is based on a multiple of the subsidiary’s adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) less net debt as of the end of the measurement year, and the multiple varies depending on the level of EBITDA compared to a target.

The Company recognized a liability of $26.2 million for the fair value of the 6% interest on the date of the acquisition, which is being accounted for as a mandatorily redeemable non-controlling interest. The fair value of the liability was determined using a

Monte Carlo simulation model, which utilizes inputs, including the volatility of financial results, in order to model the probability of different outcomes. The Company classified this as a Level 3 fair value measurement due to the use of significant unobservable inputs. In subsequent periods, the liability for the mandatorily redeemable non-controlling interest is adjusted each reporting period to its redemption value based on conditions that exist as of each subsequent balance sheet date, provided that the liability cannot be adjusted below the amount initially recorded at the acquisition date. The Company records any such adjustments to the liability in interest expense in the Company’s Consolidated Statement of Operations.

For the tranche 1 shares, the measurement period ended in 2019 and the Company paid the management shareholders an aggregate purchase price of $17.3 million (based on exchange rates in effect on the payment date) for these shares in June 2020 under the conditions specified in the terms of the acquisition agreement. The Company has presented the $17.3 million payment within the Consolidated Statement of Cash Flows as follows: (i) $12.7 million as a financing cash flow, which represents the initial fair value of the liability recognized for the tranche 1 shares on the acquisition date, and (ii) $4.6 million, attributable to interest, as an operating cash flow. For the tranche 2 shares, the Company recorded a loss of $4.6 million and a loss of $0.9 million in interest expense during the thirteen and twenty-six weeks ended August 2, 2020, respectively, in connection with the remeasurement of the mandatorily redeemable non-controlling interest to its redemption value, which reflects the amount expected to be paid under the conditions specified in the terms of the acquisition agreement if settlement had occurred as of August 2, 2020.

The liability for the mandatorily redeemable non-controlling interest was $18.8 million as of August 2, 2020 based on exchange rates in effect on that date, which related to the tranche 2 shares and was included in accrued expenses in the Company’s Consolidated Balance Sheet. The liability for the mandatorily redeemable non-controlling interest, which is subject to exchange rate fluctuation, was $33.8 million and $25.7 million as of February 2, 2020 and August 4, 2019, respectively, of which $16.9 million and $12.4 million, respectively, related to the tranche 1 shares was included in accrued expenses. The remaining $16.9 million and $13.3 million as of February 2,2020 and August 4, 2019, respectively, related to the tranche 2 shares was included in other liabilities in the Company’s Consolidated Balance Sheets.

Fair Value of the Acquisition

The acquisition date fair value of the business acquired was $324.6 million, consisting of:


(In millions)
Cash consideration	$	124.7
Fair value of the Company’s investment in PVH Australia	131.4
Fair value of the Company’s investment in Gazal	40.1
Fair value of mandatorily redeemable non-controlling interest	26.2
Elimination of pre-acquisition receivable owed to the Company	2.2
Total acquisition date fair value of the business acquired	$	324.6

Allocation of the Acquisition Date Fair Value

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:


(In millions)
Cash and cash equivalents	$	6.6
Trade receivables	15.1
Inventories	89.9
Prepaid expenses	1.3
Other current assets	3.5
Assets held for sale	58.8
Property, plant and equipment	18.4
Goodwill	65.9
Intangible assets	222.2
Operating lease right-of-use assets	56.4
Total assets acquired	538.1
Accounts payable	14.4
Accrued expenses	22.5
Short-term borrowings	50.5
Current portion of operating lease liabilities	10.9
Long-term portion of operating lease liabilities	43.9
Deferred tax liability	69.6
Other liabilities	1.7
Total liabilities assumed	213.5
Total acquisition date fair value of the business acquired	$	324.6

Prior to the closing of the Australia acquisition, Gazal had entered into an agreement to sell an office building and warehouse to a third party and, as such, the building was classified as held for sale on the acquisition date. In June 2019, the Company completed the sale of the building and warehouse for $59.4 million, incurring costs of $1.0 million, and leased back the building without an option to repurchase. No gain or loss was recognized on the transaction.

The goodwill of $65.9 million was assigned as of the acquisition date to the Company’s Tommy Hilfiger International and Calvin Klein International segments in the amounts of $56.8 million and $9.1 million, respectively, which include the Company’s reporting units that are expected to benefit from the synergies of the combination. Goodwill is not deductible for tax purposes. The other intangible assets of $222.2 million consisted of reacquired perpetual license rights of $204.9 million, which are indefinite-lived, order backlog of $0.3 million, which was amortized on a straight-line basis over 0.5 years, and customer relationships of $17.0 million, which are being amortized on a straight-line basis over 10.0 years. The Company finalized the purchase price allocation during the first quarter of 2020.

Sale of the Speedo North America Business

The Company entered into a definitive agreement on January 9, 2020 to sell its Speedo North America business to Pentland, the parent company of the Speedo brand, for $170.0 million in cash, subject to a working capital adjustment. The Company classified the assets and liabilities of the Speedo North America business as held for sale in the Company’s Consolidated Balance Sheet as of February 2, 2020 and recorded a pre-tax noncash loss of $142.0 million during the fourth quarter of 2019 (including a $116.4 million noncash impairment charge related to the Speedo perpetual license right) to reduce the carrying value of the Speedo North America business to its estimated fair value, less costs to sell. The estimated fair value, less costs to sell, reflected the amount of consideration the Company expected to receive upon closing of the transaction, inclusive of the working capital adjustment.

The Company completed the sale of its Speedo North America business on April 6, 2020 for net proceeds of $169.1 million and deconsolidated the net assets of the business. In connection with the closing of the transaction, the Company recorded a pre-tax noncash loss of $5.9 million in the first quarter of 2020 resulting from the remeasurement of the loss recorded in the fourth quarter of 2019, primarily due to changes to the net assets of the Speedo North America business subsequent to February 2, 2020. The loss was recorded in other noncash (gain) loss in the Company’s Consolidated Statement of Operations and included in the Heritage Brands Wholesale segment. The net proceeds from the sale are subject to a final working capital adjustment based on the terms of the agreement and as such, the pre-tax noncash loss recorded in connection with the transaction may be subject to remeasurement in a future period.

Upon the closing of the transaction, U.S.-based employees who were engaged primarily in the Speedo North America business terminated their employment with the Company. However, the Company retained the liability for any deferred vested benefits earned under its retirement plans. No further benefits will be accrued under the plans and as a result, the Company recognized a gain of $2.8 million in the first quarter of 2020 with a corresponding decrease to its pension benefit obligation. The gain was included in other noncash (gain) loss in the Company’s Consolidated Statement of Operations. Please see Note 8, “Retirement and Benefit Plans,” for further discussion.

The assets and liabilities of the Speedo North America business classified as held for sale in the Company’s Consolidated Balance Sheet as of February 2, 2020 were included in the Heritage Brands Wholesale segment and consisted of the following:


(In millions)
Assets held for sale:
Trade receivables	$	48.8
Inventories, net	54.3
Prepaid expenses	0.6
Other current assets	0.6
Property, plant and equipment, net	6.1
Operating lease right-of-use assets	9.0
Goodwill	48.1
Other intangibles, net ⁽¹⁾	95.3
Allowance for reduction of assets held for sale	(25.6)
Total assets held for sale	$	237.2

Liabilities related to assets held for sale:
Accounts payable	$	38.7
Accrued expenses	5.4
Current portion of operating lease liabilities	0.6
Long-term portion of operating lease liabilities	10.6
Other liabilities	1.8
Total liabilities related to assets held for sale	$	57.1

⁽¹⁾ Other intangibles, net includes a perpetual license right of $87.4 million and customer relationships of $7.9 million.

REDEEMABLE NON-CONTROLLING INTEREST	6 Months Ended
REDEEMABLE NON-CONTROLLING INTEREST	Aug. 02, 2020
Redeemable Non-Controlling Interest [Abstract]
REDEEMABLE NON-CONTROLLING INTEREST	REDEEMABLE NON-CONTROLLING INTEREST The Company and Arvind formed PVH Ethiopia, in which the Company owns a 75% interest, during 2016. The Company consolidates PVH Ethiopia in its consolidated financial statements. PVH Ethiopia was formed to operate a manufacturing facility that produces finished products for the Company for distribution primarily in the United States. The shareholders agreement governing PVH Ethiopia (the “Shareholders Agreement”) contains a put option under which Arvind can require the Company to purchase all of its shares in the joint venture during various future periods as specified in the Shareholders Agreement. The first such period immediately precedes the ninth anniversary of PVH Ethiopia’s date of incorporation. The Shareholders Agreement also contains call options under which the Company can require Arvind to sell to the Company (i) all or a portion of its shares during various future periods as specified in the Shareholders Agreement; (ii) all of its shares in the event of a change of control of Arvind; or (iii) all of its shares in the event that Arvind ceases to hold at least 10% of the outstanding shares. The Company’s first call option referred to in clause (i) immediately follows the fifth anniversary of the date of incorporation of PVH Ethiopia. The put and call prices are the fair market value of the shares on the redemption date based upon a multiple of PVH Ethiopia’s EBITDA for the prior 12 months, less PVH Ethiopia’s net debt. The fair value of the redeemable non-controlling interest (“RNCI”) as of the date of formation of PVH Ethiopia was $0.1 million. The carrying amount of the RNCI is adjusted to equal the redemption amount at the end of each reporting period, provided that this amount at the end of each reporting period cannot be lower than the initial fair value adjusted for the minority shareholder’s share of net income or loss. Any adjustment to the redemption amount of the RNCI is determined after attribution of net income or loss of the RNCI and will be recognized immediately in retained earnings of the Company, since it is probable that the RNCI will become redeemable in the future based on the passage of time. The carrying amount of the RNCI as of August 2, 2020 was $(2.7) million, which was greater than the redemption amount. The carrying amount decreased from $(2.0) million as of February 2, 2020 as a result of a net loss attributable to the RNCI for the twenty-six weeks ended August 2, 2020 of $(0.7) million. The carrying amount of the RNCI as of August 4, 2019 was $(0.6) million.

INVESTMENTS IN UNCONSOLIDATED AFFILIATES	6 Months Ended
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	Aug. 02, 2020
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	INVESTMENTS IN UNCONSOLIDATED AFFILIATES The Company had investments in unconsolidated affiliates of $144.1 million, $176.3 million and $146.6 million as of August 2, 2020, February 2, 2020 and August 4, 2019, respectively. These investments are accounted for under the equity method of accounting and included in other assets in the Company’s Consolidated Balance Sheets. The Company received dividends of $10.0 million from these investments during the twenty-six weeks ended August 4, 2019. The Company owns an economic interest of approximately 8% in Karl Lagerfeld Holding B.V. (“Karl Lagerfeld”). During the first quarter of 2020, the Company determined that recent and projected business results for Karl Lagerfeld, which included an adverse impact of the COVID-19 pandemic, was an indicator of an other-than-temporary impairment with respect to the Company’s investment in Karl Lagerfeld. The Company calculated the fair value of its investment using future operating cash flow projections that were discounted at a rate of 10.9%, which accounted for the relative risks of the estimated future cash flows. The Company classified this as a Level 3 fair value measurement due to the use of significant unobservable inputs. The Company determined the fair value of its investment was lower than its carrying amount as of May 3, 2020, and as a result recorded a noncash other-than temporary impairment of $12.3 million during the first quarter of 2020 to fully impair the investment. The impairment was included in equity in net (loss) income of unconsolidated affiliates in the Company’s Consolidated Statement of Operations. The impairment charge was recorded in corporate expenses not allocated to any reportable segments, consistent with how the Company has historically recorded its proportionate share of the net income or loss of its investment in Karl Lagerfeld. Following the impairment of its investment in Karl Lagerfeld, the Company has discontinued applying the equity method of accounting to this investment and will not record its share of net income or losses from Karl Lagerfeld in the Company’s consolidated financial statements until such time that the Company’s share of net income from Karl Lagerfeld equals the share of net losses that were not recognized during the period the equity method was discontinued. Prior to May 31, 2019, the Company held an approximately 22% ownership interest in Gazal and a 50% ownership interest in PVH Australia. These investments were accounted for under the equity method of accounting until the closing of the Australia acquisition on May 31, 2019, on which date the Company derecognized its equity investments in Gazal and PVH Australia and began to consolidate the operations of Gazal and PVH Australia into its financial statements. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Aug. 02, 2020

GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the twenty-six weeks ended August 2, 2020, by segment (please see Note 19, “Segment Data,” for further discussion of the Company’s reportable segments), were as follows:


(In millions)	Calvin Klein North America		Calvin Klein International		Tommy Hilfiger North America		Tommy Hilfiger International		Heritage Brands Wholesale		Heritage Brands Retail		Total
Balance as of February 2, 2020
Goodwill, gross	$	780.4	$	896.1	$	204.4	$	1,598.3	$	198.4	$	11.9	$	3,689.5
Accumulated impairment losses	—		—		—		—		—		(11.9)		(11.9)
Goodwill, net	780.4		896.1		204.4		1,598.3		198.4		—		3,677.6
Impairment	(287.3)		(394.0)		—		—		(197.7)		—		(879.0)

Currency translation and other	1.3		(3.7)		(1.4)		91.3		(0.7)				86.8
Balance as of August 2, 2020
Goodwill, gross	781.7		892.4		203.0		1,689.6		197.7		11.9		3,776.3
Accumulated impairment losses	(287.3)		(394.0)		—		—		(197.7)		(11.9)		(890.9)
Goodwill, net	$	494.4	$	498.4	$	203.0	$	1,689.6	$	—	$	—	$	2,885.4

The Company assesses the recoverability of goodwill and other indefinite-lived intangible assets annually, at the beginning of the third quarter of each fiscal year, and between annual tests if an event occurs or circumstances change that would indicate that it is more likely than not that the carrying amount may be impaired. Impairment testing for goodwill is done at the reporting unit level. Impairment testing for other indefinite-lived intangible assets is done at the individual asset level. Intangible assets with finite lives are amortized over their estimated useful life and are tested for impairment, along with other long-lived assets, when events and circumstances indicate that the assets might be impaired. Indefinite-lived intangible assets and intangible assets with finite lives are tested for impairment prior to assessing the recoverability of goodwill.

Goodwill

The Company determined in the first quarter of 2020 that the significant adverse impact of the COVID-19 pandemic on the Company’s business, including an unprecedented decline in revenue and earnings and an extended decline in the Company’s stock price and associated market capitalization, was a triggering event that required the Company to perform a quantitative interim goodwill impairment test.

As a result of the interim test performed, the Company recorded $879.0 million of noncash impairment charges in the first quarter of 2020, which was included in goodwill and other intangible asset impairments in the Company’s Consolidated Statement of Operations. The impairment charges, which related to the Heritage Brands Wholesale, Calvin Klein Retail North America, Calvin Klein Wholesale North America, Calvin Klein Licensing and Advertising International, and Calvin Klein International reporting units, were recorded to the Company’s segments as follows: $197.7 million in the Heritage Brands Wholesale segment, $287.3 million in the Calvin Klein North America segment, and $394.0 million in the Calvin Klein International segment. The Company’s impairment assessment was performed in accordance with the accounting guidance adopted in the first quarter of 2020 that simplifies the testing for goodwill impairment, as discussed in Note 21, “Recent Accounting Guidance.”

Of these reporting units, Calvin Klein Wholesale North America, Calvin Klein Licensing and Advertising International, and Calvin Klein International were determined to be partially impaired. The remaining carrying amount of goodwill allocated to these reporting units as of the date of the interim test was $162.3 million, $143.4 million and $346.9 million, respectively. Holding all other assumptions used in the interim test constant, a 100 basis point change in the annual revenue growth rate assumptions for these businesses would result in a change to the estimated fair value of the reporting units of approximately $80 million, $20 million and $140 million, respectively. Likewise, a 100 basis point change in the weighted average cost of capital would result in a change to the estimated fair value of the reporting units of approximately $60 million, $15 million and $125 million, respectively. While these reporting units were not determined to be fully impaired in the first quarter of 2020, they may be at risk of further impairment in the future in the event the related businesses do not perform as projected, including if they fail to recover as planned following the COVID-19 pandemic, or if market factors utilized in the impairment analysis deteriorate, including an unfavorable change in long-term growth rates or the weighted average cost of capital.

With respect to the Company’s other reporting units that were not determined to be impaired, the Tommy Hilfiger International reporting unit had an estimated fair value that exceeded its carrying amount as of the date of the interim test of $2,948.5 million by 5%. The carrying amount of goodwill allocated to this reporting unit was $1,557.5 million. Holding all other assumptions used in the interim test constant, a 100 basis point change in the annual revenue growth rate of the Tommy Hilfiger International business would result in a change to the estimated fair value of the reporting unit of approximately $355 million. Likewise, a 100 basis point change in the weighted average cost of capital would result in a change to the estimated fair value of the reporting unit of approximately $320 million. While the Tommy Hilfiger International reporting unit was not determined to be impaired in the first quarter of 2020, it may be at risk of future impairment in the event the related business does not perform as projected, including if it fails to recover as planned following the COVID-19 pandemic, or if market factors utilized in the impairment analysis deteriorate, including an unfavorable change in the long-term growth rate or the weighted average cost of capital.

The fair value of the reporting units for goodwill impairment testing was determined using an income approach and validated using a market approach. The income approach was based on discounted projected future (debt-free) cash flows for each reporting unit. The discount rates applied to these cash flows were based on the weighted average cost of capital for each reporting unit, which takes market participant assumptions into consideration. Estimated future operating cash flows used in the interim test were discounted at rates of 10.0%, 10.5% or 11.0%, depending on the reporting unit, to account for the relative risks of the estimated future cash flows. For the market approach, used to validate the results of the income approach method, the Company used both the guideline company and similar transaction methods. The guideline company method analyzes market multiples of revenue and EBITDA for a group of comparable public companies. The market multiples used in the valuation are based on the relative strengths and weaknesses of the reporting unit compared to the selected guideline companies. Under the similar transactions method, valuation multiples are calculated utilizing actual transaction prices and revenue and EBITDA data from target companies deemed similar to the reporting unit. The Company classified the fair values of its reporting units as Level 3 fair value measurements due to the use of significant unobservable inputs.

There have been no events or change in circumstances during the second quarter of 2020 that would indicate the remaining carrying amount of the Company’s goodwill may be impaired as of August 2, 2020. There is still significant uncertainty about the duration and extent of the impacts of the COVID-19 pandemic. If economic conditions caused by the pandemic do not recover as currently estimated by management or market factors utilized in the impairment analysis deteriorate, the Company could incur additional goodwill impairment charges in the future.

Indefinite-Lived Intangible Assets

The Company also determined in the first quarter of 2020 that the impact of the COVID-19 pandemic on its business was a triggering event that prompted the need to perform interim impairment testing of its indefinite-lived intangible assets. For the TOMMY HILFIGER, CALVIN KLEIN, Van Heusen, Warner’s and Olga tradenames and the reacquired perpetual license rights for TOMMY HILFIGER in India, the Company elected to first assess qualitative factors to determine whether it was more likely than not that the fair value of any asset was less than its carrying amount. For these assets, no impairment was identified as a result of the Company’s annual indefinite-lived intangible asset impairment test for 2019 and the fair values of these indefinite-lived intangible assets substantially exceeded their carrying amounts. The asset with the least excess fair value had an estimated fair value that exceeded its carrying amount by approximately 85% as of the date of the Company’s 2019 annual test. Considering this and other factors, the Company determined qualitatively that it was not more likely than not that the fair values of these indefinite-lived intangible assets were less than their carrying amounts and concluded that the quantitative impairment test in the first quarter of 2020 was not required.

For the ARROW and Geoffrey Beene tradenames and the reacquired perpetual license rights recorded in connection with the Australia acquisition, the Company elected to bypass the qualitative assessment and proceeded directly to the quantitative impairment test. As a result of this quantitative interim impairment testing, the Company recorded $47.2 million of noncash impairment charges in the first quarter of 2020 to write down the two tradenames. This included $35.6 million to write down the ARROW tradename, which had a carrying amount as of the date of the interim test of $78.9 million, to a fair value of $43.3 million, and $11.6 million to write down the Geoffrey Beene tradename, which had a carrying amount of $17.0 million, to a fair value of $5.4 million. The $47.2 million of impairment charges recorded in the first quarter of 2020 was included in goodwill and other intangible asset impairments in the Company’s Consolidated Statement of Operations and allocated to the Company’s Heritage Brands Wholesale segment. Holding all other assumptions used in the interim test constant, a 100 basis point change in the annual revenue growth rate of the Arrow business would result in a change to the estimated fair value of the tradename of approximately $5 million. Likewise, a 100 basis point change in the weighted average cost of capital would result in a change to the estimated fair value of the tradename of approximately $5 million. Holding all other assumptions used in the interim test

constant, a 100 basis point change to the annual revenue growth rate or weighted average cost of capital in the Geoffrey Beene business would result in an immaterial change to the estimated fair value of the tradename.

With regard to the reacquired perpetual license rights recorded in connection with the Australia acquisition, the Company determined in the first quarter of 2020 that its fair value substantially exceeded its carrying amount and, therefore, the asset was not impaired.

The fair value of the ARROW and Geoffrey Beene tradenames was determined using an income-based relief-from-royalty method. Under this method, the value of an asset is estimated based on the hypothetical cost savings that accrue as a result of not having to license the tradename from another party. These cash flows are discounted to present value using a discount rate that factors in the relative risk of the intangible asset. The Company discounted the cash flows used to value the ARROW and Geoffrey Beene tradenames at a rate of 10.0%. The fair value of the Company’s reacquired perpetual license rights recorded in connection with the Australia acquisition was determined using an income approach, which estimates the net cash flows directly attributable to the subject intangible asset. These cash flows are discounted to present value using a discount rate that factors in the relative risk of the intangible asset. The Company discounted the cash flows used to value the reacquired perpetual license rights recorded in connection with the Australia acquisition at a rate of 10.0%. The Company classified the fair values of these indefinite-lived intangible assets as Level 3 fair value measurements due to the use of significant unobservable inputs.

There have been no events or change in circumstances during the second quarter of 2020 that would indicate the remaining carrying amount of the Company’s indefinite-lived intangible assets may be impaired as of August 2, 2020. There is still significant uncertainty about the duration and extent of the impacts of the COVID-19 pandemic. If economic conditions caused by the pandemic do not recover as currently estimated by management or market factors utilized in the impairment analysis deteriorate, the Company could incur additional indefinite-lived intangible asset impairment charges in the future.

Finite-Lived Intangible Assets

Additionally, the Company recorded $7.3 million of noncash impairment charges in the first quarter of 2020 to write down certain finite-lived customer relationship intangible assets to a fair value of zero. These impairments were included in goodwill and other intangible asset impairments in the Company’s Consolidated Statement of Operations and allocated to the Company’s segments as follows: $4.7 million in the Heritage Brands Wholesale segment and $2.6 million in the Calvin Klein North America segment. The Company determined qualitatively that these assets, which have a relatively short remaining useful life, were not recoverable and, therefore, impaired due to the adverse impacts of the COVID-19 pandemic on the current and projected performance of the underlying businesses.

There have been no events or change in circumstances during the second quarter of 2020 that would indicate the remaining carrying amount of the Company’s finite-lived intangible assets may be impaired as of August 2, 2020. There is still significant uncertainty about the duration and extent of the impacts of the COVID-19 pandemic. If economic conditions caused by the pandemic do not recover as currently estimated by management, the Company could incur additional finite-lived intangible asset impairment charges in the future.

RETIREMENT AND BENEFIT PLANS

6 Months Ended

Aug. 02, 2020

RETIREMENT AND BENEFIT PLANS

The Company, as of August 2, 2020, has five noncontributory qualified defined benefit pension plans covering substantially all employees resident in the United States who meet certain age and service requirements. The plans provide monthly benefits upon retirement generally based on career average compensation and years of credited service. Vesting in plan benefits generally occurs after five years of service. The Company refers to these five plans as its “Pension Plans.”

The Company also has three noncontributory unfunded non-qualified supplemental defined benefit pension plans, including:

–A plan for certain current and former members of Tommy Hilfiger’s domestic senior management. The plan is frozen and, as a result, participants do not accrue additional benefits.

–A capital accumulation program for certain current and former senior executives. Under the individual participants’ agreements, the participants in the program will receive a predetermined amount during the ten years following the attainment of age 65, provided that prior to the termination of employment with the Company, the participant has been in the plan for at least ten years and has attained age 55.

–A plan for certain employees resident in the United States who meet certain age and service requirements that provides benefits for compensation in excess of Internal Revenue Service earnings limits and requires payments to vested employees upon, or shortly after, employment termination or retirement.

The Company refers to these three plans as its “SERP Plans.”

The components of net benefit cost recognized were as follows:


	Pension Plans						Pension Plans
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19		8/2/20		8/4/19

Service cost	$	11.3	$	8.5	$	22.4	$	16.7
Interest cost	6.4		7.1		12.8		14.0
Expected return on plan assets	(10.9)		(10.1)		(21.8)		(20.2)
Special termination benefits	1.1		—		1.1		—
Speedo deconsolidation gain	—		—		(2.2)		—



Total	$	7.9	$	5.5	$	12.3	$	10.5


	SERP Plans						SERP Plans
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19		8/2/20		8/4/19

Service cost	$	1.1	$	1.4	$	3.0	$	2.9
Interest cost	0.8		1.1		1.7		2.1

Special termination benefits	1.9		—		1.9		—
Speedo deconsolidation gain	—		—		(0.6)		—



Total	$	3.8	$	2.5	$	6.0	$	5.0

The Company announced on July 14, 2020 plans to streamline its North American operations to better align its business with the evolving retail landscape. The Company’s actions included a reduction in its North America office workforce by approximately 450 positions, or 12%, across all three brand businesses and corporate functions. For certain eligible employees affected by the workforce reduction, the Company provided an enhanced retirement benefit and as a result recognized $3.0 million of special termination benefit costs during the second quarter of 2020, with a corresponding increase to its pension benefit obligation. Please see Note 16, “Exit Activity Costs,” for further discussion of these actions.

The Company completed the sale of its Speedo North America business to Pentland on April 6, 2020. Upon the closing of the transaction, U.S.-based employees who were engaged primarily in the Speedo North America business terminated their employment with the Company. However, the Company retained the liability for any deferred vested benefits earned under its retirement plans. No further benefits will be accrued under the plans and as a result, the Company recognized a gain of $2.8 million during the twenty-six weeks ended August 2, 2020 with a corresponding decrease to its pension benefit obligation. The gain was included in other noncash gain (loss) in the Company’s Consolidated Statement of Operations. Please see Note 4, “Acquisitions and Divestitures,” for further discussion of the sale of the Speedo North America business.

The Company also provides certain postretirement health care and life insurance benefits to certain retirees resident in the United States. As a result of the Company’s acquisition of The Warnaco Group, Inc. (“Warnaco”), the Company also provides certain postretirement health care and life insurance benefits to certain Warnaco retirees resident in the United States. Retirees contribute to the cost of the applicable plan, both of which are unfunded and frozen. The Company refers to these two plans as its “Postretirement Plans.” Net benefit cost related to the Postretirement Plans was immaterial for the thirteen and twenty-six weeks ended August 2, 2020 and August 4, 2019.

The components of net benefit cost are recorded in the Company's Consolidated Statements of Operations as follows: (i) the service cost component is recorded in selling, general and administrative (“SG&A”) expenses, (ii) the Speedo deconsolidation gain component is recorded in other noncash (gain) loss, and (iii) the other components are recorded in non-service related pension and postretirement income.

Currently, the Company does not expect to make material contributions to the Pension Plans in 2020. The Company’s actual contributions may differ from planned contributions due to many factors, including changes in tax and other laws, as well as significant differences between expected and actual pension asset performance or interest rates.

The entire disclosure for retirement benefits.

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DEBT

6 Months Ended

Aug. 02, 2020

Debt Disclosure [Abstract]

DEBT

9. DEBT

Short-Term Borrowings

The Company has the ability to draw revolving borrowings under the senior unsecured credit facilities discussed below in the section entitled “2019 Senior Unsecured Credit Facilities.” The Company had no borrowings outstanding under these facilities as of August 2, 2020. The maximum amount of revolving borrowings temporarily outstanding under these facilities during the twenty-six weeks ended August 2, 2020 was $745.7 million.

The Company also has the ability to draw revolving borrowings under its 364-day unsecured revolving credit facility discussed below in the section entitled “2020 Unsecured Revolving Credit Facility.” The Company had no borrowings outstanding under this facility as of or during the twenty-six weeks ended August 2, 2020.

Additionally, the Company has the ability to borrow under short-term lines of credit, overdraft facilities and short-term revolving credit facilities denominated in various foreign currencies. These facilities provided for borrowings of up to $236.3 million based on exchange rates in effect on August 2, 2020 and are utilized primarily to fund working capital needs. The Company had $70.6 million outstanding under these facilities as of August 2, 2020. The weighted average interest rate on funds borrowed as of August 2, 2020 was 2.02%. The maximum amount of borrowings outstanding under these facilities during the twenty-six weeks ended August 2, 2020 was $97.1 million.

Commercial Paper

The Company has the ability to issue, from time to time, unsecured commercial paper notes with maturities that vary but do not exceed 397 days from the date of issuance primarily to fund working capital needs. The Company had no borrowings outstanding under the commercial paper note program as of August 2, 2020. The maximum amount of borrowings temporarily outstanding under the program during the twenty-six weeks ended August 2, 2020 was $165.0 million.

The commercial paper program allows for borrowings of up to $675.0 million to the extent that the Company has borrowing capacity under the United States dollar-denominated revolving credit facility included in the 2019 facilities (as defined below). Accordingly, the combined aggregate amount of (i) borrowings outstanding under the commercial paper note program and (ii) the revolving borrowings outstanding under the United States dollar-denominated revolving credit facility at any one time cannot exceed $675.0 million. The maximum aggregate amount of borrowings outstanding under the commercial paper program and the United States dollar-denominated portion of the revolving credit facility during the twenty-six weeks ended August 2, 2020 was $659.9 million.

2020 Unsecured Revolving Credit Facility

On April 8, 2020, the Company entered into a 364-day $275.0 million United States dollar-denominated unsecured revolving credit facility (the “2020 facility”). The Company may increase the commitment under the 2020 facility by an aggregate amount not to exceed $100.0 million, subject to certain customary conditions. The 2020 facility will mature on April 7, 2021. The Company incurred $2.0 million of debt issuance costs, which are being amortized over the term of the debt agreement.

Currently, the Company’s obligations under the 2020 facility are unsecured and are not guaranteed by any of the Company’s subsidiaries. However, within 120 days after the occurrence of a specified credit ratings decrease (as set forth in the 2020 facility), (i) the Company must cause each of its wholly owned United States subsidiaries (subject to certain customary exceptions) to become a guarantor under the 2020 facility and (ii) the Company and each subsidiary guarantor will be required to grant liens in favor of the collateral agent on substantially all of their respective assets (subject to customary exceptions).

The outstanding borrowings under the 2020 facility are prepayable at any time without penalty (other than customary breakage costs). The borrowings under the 2020 facility bear interest at a rate equal to an applicable margin plus, as determined at the Company’s option, either (a) a base rate determined by reference to the greater of (i) the prime rate, (ii) the United States federal funds effective rate plus 1/2 of 1.00% and (iii) a one-month reserve adjusted Eurocurrency rate plus 1.00% or (b) an adjusted Eurocurrency rate, calculated in a manner set forth in the 2020 facility.

The current applicable margin with respect to the borrowings as of August 2, 2020 was 2.250% for adjusted Eurocurrency rate loans and 1.250% for base rate loans. The applicable margin for borrowings is subject to adjustment based upon the Company’s public debt rating after the date of delivery of notice of a change in the Company’s public debt rating by Standard & Poor’s and Moody’s.

The Company had no borrowings outstanding under the 2020 facility during the twenty-six weeks ended August 2, 2020.

The 2020 facility requires the Company to comply with affirmative, negative and financial covenants, including a minimum interest coverage ratio and maximum net leverage ratio, which are subject to change in the event that, and in the same manner as, the minimum interest coverage ratio and maximum net leverage ratio covenants under the 2019 facilities are amended. In June 2020, the 2019 facilities were amended (referred to as the “June 2020 Amendment”). Refer to the section entitled “2019 Senior Unsecured Credit Facilities” below for further discussion.

The 2020 facility contains other customary events of default in addition to violations of covenants discussed above, including but not limited to nonpayment; material inaccuracy of representations and warranties; certain bankruptcies and liquidations; cross-default to material indebtedness; certain material judgments; certain events related to the Employee Retirement Income Security Act of 1974, as amended; and a change in control (as defined in the 2020 facility).

Long-Term Debt

The carrying amounts of the Company’s long-term debt were as follows:


(In millions)	8/2/20			2/2/20			8/4/19

Senior unsecured Term Loan A facilities due 2024 ⁽¹⁾⁽²⁾	$	1,601.0		$	1,569.5		$	1,642.0

7 3/4% debentures due 2023	99.7			99.7			99.6
3 5/8% senior unsecured euro notes due 2024 ⁽²⁾	615.2		(3)(4)	382.9		(3)	384.3		(3)
4 5/8% senior unsecured notes due 2025	493.9			—			—
3 1/8% senior unsecured euro notes due 2027 ⁽²⁾	703.3			655.6			658.3
Total	3,513.1			2,707.7			2,784.2
Less: Current portion of long-term debt	14.8			13.8			41.2
Long-term debt	$	3,498.3		$	2,693.9		$	2,743.0

⁽¹⁾ The outstanding principal balance for the United States dollar-denominated Term Loan A facility and the euro-denominated Term Loan A facility was $1,029.6 million and €487.5 million, respectively, as of August 2, 2020.

⁽²⁾ The carrying amount of the euro-denominated Term Loan A facility and the senior unsecured euro notes includes the impact of changes in the exchange rate of the United States dollar against the euro.

⁽³⁾ Includes €350.0 million principal amount of 3 5/8% senior unsecured euro notes due 2024 that were issued on June 20, 2016.

⁽⁴⁾ Includes an additional €175.0 million principal amount of 3 5/8% senior unsecured euro notes due 2024 that were issued on April 24, 2020.

Please see Note 12, “Fair Value Measurements,” for the fair value of the Company’s long-term debt as of August 2, 2020, February 2, 2020 and August 4, 2019.

As of August 2, 2020, the Company’s mandatory long-term debt repayments for the remainder of 2020 through 2025 were as follows:


(In millions)
Fiscal Year	Amount ⁽¹⁾
Remainder of 2020	$	7.4
2021	40.5
2022	105.4
2023	226.4
2024	1,949.5
2025	500.0

⁽¹⁾ A portion of the Company’s mandatory long-term debt repayments are denominated in euros and subject to changes in the exchange rate of the United States dollar against the euro.

Total debt repayments for the remainder of 2020 through 2025 exceed the total carrying amount of the Company’s Term Loan A facilities, 7 3/4% debentures due 2023, 3 5/8% senior euro notes due 2024 and 4 5/8% senior notes due 2025 as of August 2, 2020 because the carrying amount reflects the unamortized portions of debt issuance costs and the original issue discounts.

As of August 2, 2020, after taking into account the effect of the Company’s interest rate swap agreements discussed in the section entitled “2019 Senior Unsecured Credit Facilities,” which were in effect as of such date, approximately 70% of the Company’s long-term debt had fixed interest rates, with the remainder at variable interest rates.

2016 Senior Secured Credit Facilities

On May 19, 2016, the Company entered into an amendment to its senior secured credit facilities (as amended, the “2016 facilities”). The Company replaced the 2016 facilities with new senior unsecured credit facilities on April 29, 2019 as discussed in the section entitled “2019 Senior Unsecured Credit Facilities” below. The 2016 facilities, as of the date they were replaced, consisted of a $2,347.4 million United States dollar-denominated Term Loan A facility and senior secured revolving credit facilities consisting of (i) a $475.0 million United States dollar-denominated revolving credit facility, (ii) a $25.0 million United States dollar-denominated revolving credit facility available in United States dollars and Canadian dollars and (iii) a €185.9 million euro-denominated revolving credit facility available in euro, British pound sterling, Japanese yen and Swiss francs.

2019 Senior Unsecured Credit Facilities

The Company refinanced the 2016 facilities on April 29, 2019 (the “Closing Date”) by entering into senior unsecured credit facilities (the “2019 facilities”), the proceeds of which, along with cash on hand, were used to repay all of the outstanding borrowings under the 2016 facilities, as well as the related debt issuance costs.

The 2019 facilities consist of a $1,093.2 million United States dollar-denominated Term Loan A facility (the “USD TLA facility”), a €500.0 million euro-denominated Term Loan A facility (the “Euro TLA facility” and together with the USD TLA facility, the “TLA facilities”) and senior unsecured revolving credit facilities consisting of (i) a $675.0 million United States dollar-denominated revolving credit facility, (ii) a CAD $70.0 million Canadian dollar-denominated revolving credit facility available in United States dollars or Canadian dollars, (iii) a €200.0 million euro-denominated revolving credit facility available in euro, British pound sterling, Japanese yen, Swiss francs, Australian dollars and other agreed foreign currencies and (iv) a $50.0 million United States dollar-denominated revolving credit facility available in United States dollars or Hong Kong dollars. The 2019 facilities are due on April 29, 2024. In connection with the refinancing of the senior credit facilities, the Company paid debt issuance costs of $10.4 million (of which $3.5 million was expensed as debt modification costs and $6.9 million is being amortized over the term of the debt agreement) and recorded debt extinguishment costs of $1.7 million to write off previously capitalized debt issuance costs.

Each of the senior unsecured revolving credit facilities, except for the $50.0 million United States dollar-denominated revolving credit facility available in United States dollars or Hong Kong dollars, also include amounts available for letters of credit and have a portion available for the making of swingline loans. The issuance of such letters of credit and the making of any swingline loan reduces the amount available under the applicable revolving credit facility. So long as certain conditions are satisfied, the Company may add one or more senior unsecured term loan facilities or increase the commitments under the senior

unsecured revolving credit facilities by an aggregate amount not to exceed $1,500.0 million. The lenders under the 2019 facilities are not required to provide commitments with respect to such additional facilities or increased commitments.

The Company had loans outstanding of $1,601.0 million, net of debt issuance costs and based on applicable exchange rates, under the TLA facilities, no borrowings outstanding under the senior unsecured revolving credit facilities and $24.2 million of outstanding letters of credit under the senior unsecured revolving credit facilities as of August 2, 2020.

The terms of the TLA facilities require the Company to make quarterly repayments of amounts outstanding under the 2019 facilities, which commenced with the calendar quarter ended September 30, 2019. Such required repayment amounts equal 2.50% per annum of the principal amount outstanding on the Closing Date for the first eight calendar quarters following the Closing Date, 5.00% per annum of the principal amount outstanding on the Closing Date for the four calendar quarters thereafter and 7.50% per annum of the principal amount outstanding on the Closing Date for the remaining calendar quarters, in each case paid in equal installments and in each case subject to certain customary adjustments, with the balance due on the maturity date of the TLA facilities. The outstanding borrowings under the 2019 facilities are prepayable at any time without penalty (other than customary breakage costs). Any voluntary repayments made by the Company would reduce the future required repayment amounts.

The Company made payments of $6.9 million on its term loans under the 2019 facilities during the twenty-six weeks ended August 2, 2020. The Company made no payments on its term loans under the 2019 facilities and 2016 facilities during the twenty-six weeks ended August 4, 2019 other than the repayment of the 2016 facilities in connection with the refinancing of the 2016 senior credit facilities.

The United States dollar-denominated borrowings under the 2019 facilities bear interest at a rate equal to an applicable margin plus, as determined at the Company's option, either (a) a base rate determined by reference to the greater of (i) the prime rate, (ii) the United States federal funds effective rate plus 1/2 of 1.00% and (iii) a one-month reserve adjusted Eurocurrency rate plus 1.00% or (b) an adjusted Eurocurrency rate, calculated in a manner set forth in the 2019 facilities.

The Canadian dollar-denominated borrowings under the 2019 facilities bear interest at a rate equal to an applicable margin plus, as determined at the Company’s option, either (a) a Canadian prime rate determined by reference to the greater of (i) the rate of interest per annum that Royal Bank of Canada establishes as the reference rate of interest in order to determine interest rates for loans in Canadian dollars to its Canadian borrowers and (ii) the average of the rates per annum for Canadian dollar bankers' acceptances having a term of one month or (b) an adjusted Eurocurrency rate, calculated in a manner set forth in the 2019 facilities.

Borrowings available in Hong Kong dollars under the 2019 facilities bear interest at a rate equal to an applicable margin plus an adjusted Eurocurrency rate, calculated in a manner set forth in the 2019 facilities.

The borrowings under the 2019 facilities in currencies other than United States dollars, Canadian dollars or Hong Kong dollars bear interest at a rate equal to an applicable margin plus an adjusted Eurocurrency rate, calculated in a manner set forth in the 2019 facilities.

The current applicable margin with respect to the TLA facilities and each revolving credit facility as of August 2, 2020 was 1.625% for adjusted Eurocurrency rate loans and 0.625% for base rate or Canadian prime rate loans, which reflects an increase of 0.25% as set forth in the June 2020 Amendment (as defined below). The applicable margin for borrowings under the TLA facilities and the revolving credit facilities is subject to adjustment (i) after the date of delivery of the compliance certificate and financial statements, with respect to each of the Company’s fiscal quarters, based upon the Company’s net leverage ratio or (ii) after the date of delivery of notice of a change in the Company’s public debt rating by Standard & Poor’s or Moody’s.

The Company entered into interest rate swap agreements designed with the intended effect of converting notional amounts of its variable rate debt obligation to fixed rate debt. Under the terms of the agreements, for the outstanding notional amount, the Company’s exposure to fluctuations in the one-month London interbank offered rate (“LIBOR”) is eliminated and the Company pays a fixed rate plus the current applicable margin. The following interest rate swap agreements were entered into or in effect during the twenty-six weeks ended August 2, 2020 and/or August 4, 2019:


(In millions)
Designation Date	Commencement Date	Initial Notional Amount		Notional Amount Outstanding as of August 2, 2020		Fixed Rate	Expiration Date
March 2020	February 2021	$	50.0	$	—	0.562%	February 2023
February 2020	February 2021	50.0		—		1.1625%	February 2023
February 2020	February 2020	50.0		50.0		1.2575%	February 2023
August 2019	February 2020	50.0		50.0		1.1975%	February 2022
June 2019	February 2020	50.0		50.0		1.409%	February 2022
June 2019	June 2019	50.0		50.0		1.719%	July 2021
January 2019	February 2020	50.0		50.0		2.4187%	February 2021
November 2018	February 2019	139.2		126.6		2.8645%	February 2021
October 2018	February 2019	115.7		159.8		2.9975%	February 2021
June 2018	August 2018	50.0		50.0		2.6825%	February 2021
June 2017	February 2018	306.5		—		1.566%	February 2020

The notional amounts of the outstanding interest rate swaps that commenced in February 2019 are adjusted according to pre-set schedules during the terms of the swap agreements such that, based on the Company’s projections for future debt repayments, the Company’s outstanding debt under the USD TLA facility is expected to always equal or exceed the combined notional amount of the then-outstanding interest rate swaps.

The 2019 facilities require the Company to comply with customary affirmative, negative and financial covenants, including a minimum interest coverage ratio and a maximum net leverage ratio. Given the disruption to the Company’s business caused by the COVID-19 pandemic and to ensure financial flexibility, the Company amended these facilities in June 2020 to provide temporary relief of certain financial covenants until the date on which a compliance certificate is delivered for the second quarter of 2021 (the “relief period”) unless the Company elects earlier to terminate the relief period and satisfies the conditions for doing so (the “June 2020 Amendment”). The June 2020 Amendment provides for the following during the relief period, among other things, the (i) suspension of compliance with the maximum net leverage ratio through and including the first quarter of 2021, (ii) suspension of the minimum interest coverage ratio through and including the first quarter of 2021, (iii) addition of a minimum liquidity covenant of $400.0 million, (iv) addition of a restricted payment covenant and (v) imposition of stricter limitations on the incurrence of indebtedness and liens. The limitation on restricted payments requires that the Company suspend payments of dividends on its common stock and purchases of shares under its stock repurchase program during the relief period. The June 2020 Amendment also provides that during the relief period the applicable margin will be increased 0.25%. In addition, under the June 2020 Amendment, in the event there is a specified credit ratings downgrade by Standard & Poor’s and Moody’s during the relief period (as set forth in the June 2020 Amendment), within 120 days thereafter (i) the Company must cause each of its wholly owned United States subsidiaries (subject to certain customary exceptions) to become a guarantor under the 2019 facilities and (ii) the Company and each subsidiary guarantor will be required to grant liens in favor of the collateral agent on substantially all of their respective assets (subject to customary exceptions). As of August 2, 2020, the Company was in compliance with all applicable financial and non-financial covenants (as amended) under these facilities.

The Company expects to maintain compliance with the financial covenants (as amended) under the 2019 facilities for at least the next 12 months based on its current forecasts. If the adverse impacts of the COVID-19 pandemic on the Company’s business worsen and its earnings and operating cash flows do not recover as currently estimated by management, there can be no assurance that the Company will be able to maintain compliance with these financial covenants (as amended) in the future. There can be no assurance that the Company would be able to obtain future waivers in a timely manner, on terms acceptable to the Company, or at all. If the Company was not able to maintain compliance or obtain a future covenant waiver under its credit facilities, there can be no assurance that the Company would be able to raise sufficient debt or equity capital, or divest assets, to refinance or repay such facilities.

7 3/4% Debentures Due 2023

The Company has outstanding $100.0 million of debentures due November 15, 2023 that accrue interest at the rate of 7 3/4%. The debentures are not redeemable at the Company’s option prior to maturity.

3 5/8% Euro Senior Notes Due 2024

The Company has outstanding €525.0 million principal amount of 3 5/8% senior notes due July 15, 2024, of which €175.0 million principal amount was issued on April 24, 2020. Interest on the notes is payable in euros. The Company paid €2.8 million ($3.0 million based on exchange rates in effect on the payment date) of fees in connection with the issuance of the additional €175.0 million notes, which are being amortized over the term of the notes. The Company may redeem some or all of these notes at any time prior to April 15, 2024 by paying a “make whole” premium plus any accrued and unpaid interest. In addition, the Company may redeem some or all of these notes on or after April 15, 2024 at their principal amount plus any accrued and unpaid interest.

4 5/8% Senior Notes Due 2025

The Company issued on July 10, 2020 $500.0 million principal amount of 4 5/8% senior notes due July 10, 2025. The interest rate payable on the notes is subject to adjustment if either Standard & Poor’s or Moody’s, or any substitute rating agency, as defined in the indenture governing the notes, downgrades the credit rating assigned to the notes. The Company incurred $6.2 million of fees during the second quarter of 2020 in connection with the issuance of the notes, which are being amortized over the term of the notes. The Company may redeem some or all of these notes at any time prior to June 10, 2025 by paying a “make whole” premium plus any accrued and unpaid interest. In addition, the Company may redeem some or all of these notes on or after June 10, 2025 at their principal amount plus any accrued and unpaid interest.

The Company’s ability to create liens on the Company’s assets or engage in sale/leaseback transactions is restricted as defined in the indenture governing the notes.

3 1/8% Euro Senior Notes Due 2027

The Company has outstanding €600.0 million principal amount of 3 1/8% senior notes due December 15, 2027. Interest on the notes is payable in euros. The Company may redeem some or all of these notes at any time prior to September 15, 2027 by paying a “make whole” premium plus any accrued and unpaid interest. In addition, the Company may redeem some or all of these notes on or after September 15, 2027 at their principal amount plus any accrued and unpaid interest.

The Company’s financing arrangements contain financial and non-financial covenants and customary events of default. As of August 2, 2020, the Company was in compliance with all applicable financial and non-financial covenants under its financing arrangements.

The Company also has standby letters of credit outside of its 2019 facilities primarily to collateralize the Company's insurance and lease obligations. The Company had $42.9 million of these standby letters of credit outstanding as of August 2, 2020.

Please see Note 9, “Debt,” in the Notes to Consolidated Financial Statements included in Item 8 of the Company’s Annual Report on Form 10-K for the year ended February 2, 2020 for further discussion of the Company’s debt.

INCOME TAXES	6 Months Ended
INCOME TAXES	Aug. 02, 2020
Notes to Financial Statements [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the thirteen weeks ended August 2, 2020 and August 4, 2019 were (53.0)% and 13.3%, respectively. The effective income tax rate for the thirteen weeks ended August 2, 2020 reflected a $17.9 million income tax expense recorded on $(33.8) million of pre-tax losses. The effective income tax rate for the thirteen weeks ended August 4, 2019 reflected a $29.7 million income tax expense recorded on $222.8 million of pre-tax income. The effective income tax rates for the twenty-six weeks ended August 2, 2020 and August 4, 2019 were 9.8% and 16.3%, respectively. The effective income tax rate for the twenty-six weeks ended August 2, 2020 reflected a $(124.5) million income tax benefit recorded on $(1,273.4) million of pre-tax losses. The effective income tax rate for the twenty-six weeks ended August 4, 2019 reflected a $53.3 million income tax expense recorded on $328.0 million of pre-tax income. The effective income tax rates for the thirteen and twenty-six weeks ended August 2, 2020 were lower than the United States statutory income tax rate primarily due to (i) the impact of the $879.0 million of pre-tax goodwill impairment charges recorded during the first quarter of 2020, which were mostly non-deductible for tax purposes and factored into the Company’s annualized effective income tax rate, and resulted in a decrease to the Company’s effective income tax rates for the thirteen and twenty-six weeks ended August 2, 2020 of 14.6% and 9.8%, respectively, (ii) the tax on foreign earnings in excess of a deemed return on tangible assets of foreign corporations (known as “GILTI”) and (iii) the mix of foreign and domestic pre-tax results, as well as the distortive impact of these items on the effective income tax rate for the thirteen weeks ended August 2, 2020 as a result of the small pre-tax loss during the period. The effective income tax rates for the thirteen and twenty-six weeks ended August 4, 2019 were lower than the United States statutory income tax rate primarily due to (i) the favorable impact of a tax exemption on the noncash gain recorded to write up the Company’s equity investments in Gazal and PVH Australia to fair value in connection with the Australia acquisition, which resulted in a benefit to the Company’s effective income tax rates for the thirteen and twenty-six weeks ended August 4, 2019 of 13.7% and 8.5%, respectively, partially offset by (ii) the tax effects of GILTI, which more than offset the benefit of overall lower tax rates in certain international jurisdictions where the Company files tax returns. The Company files income tax returns in more than 40 international jurisdictions each year. A substantial amount of the Company’s earnings are in international jurisdictions, particularly the Netherlands and Hong Kong, where income tax rates, coupled with special rates levied on income from certain of the Company’s jurisdictional activities, are lower than the United States statutory income tax rate.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

DERIVATIVE FINANCIAL INSTRUMENTS

6 Months Ended

Aug. 02, 2020

DERIVATIVE FINANCIAL INSTRUMENTS

Cash Flow Hedges

The Company has exposure to changes in foreign currency exchange rates related to anticipated cash flows associated with certain international inventory purchases. The Company uses foreign currency forward exchange contracts to hedge against a portion of this exposure.

The Company also has exposure to interest rate volatility related to its term loans under the 2019 facilities. The Company has entered into interest rate swap agreements to hedge against a portion of this exposure. Please see Note 9, “Debt,” for further discussion of the 2019 facilities and these agreements.

The Company records the foreign currency forward exchange contracts and interest rate swap agreements at fair value in its Consolidated Balance Sheets and does not net the related assets and liabilities. The foreign currency forward exchange contracts associated with certain international inventory purchases and the interest rate swap agreements are designated as effective hedging instruments (collectively, “cash flow hedges”). The changes in the fair value of the cash flow hedges are recorded in equity as a component of accumulated other comprehensive loss (“AOCL”). No amounts were excluded from effectiveness testing. During the twenty-six weeks ended August 2, 2020, the Company dedesignated certain cash flow hedges due to the impacts of the COVID-19 pandemic, which resulted in the release of an immaterial gain from AOCL into the Company’s Consolidated Statements of Operations. The Company continues to believe that transactions relating to its other designated cash flow hedges are probable to occur as of August 2, 2020.

Net Investment Hedges

The Company has exposure to changes in foreign currency exchange rates related to the value of its investments in foreign subsidiaries denominated in a currency other than the United States dollar. To hedge against a portion of this exposure, the Company designated the carrying amounts of its (i) €600.0 million principal amount of 3 1/8% senior notes due 2027 and (ii) €525.0 million principal amount of 3 5/8% senior notes due 2024, of which €175.0 million principal amount was issued during the first quarter of 2020 (collectively, “foreign currency borrowings”), that were issued by PVH Corp., a U.S.-based entity, as net investment hedges of its investments in certain of its foreign subsidiaries that use the euro as their functional currency. Please see Note 9, “Debt,” for further discussion of the Company’s foreign currency borrowings.

The Company records the foreign currency borrowings at carrying value in its Consolidated Balance Sheets. The carrying value of the foreign currency borrowings is remeasured at the end of each reporting period to reflect changes in the foreign currency exchange spot rate. Since the foreign currency borrowings are designated as net investment hedges, such remeasurement is recorded in equity as a component of AOCL. The fair value and the carrying value of the foreign currency borrowings designated as net investment hedges were $1,320.3 million and $1,318.5 million, respectively, as of August 2, 2020, $1,178.6 million and $1,038.5 million, respectively, as of February 2, 2020 and $1,187.0 million and $1,042.6 million, respectively, as of

August 4, 2019. The Company evaluates the effectiveness of its net investment hedges at inception and at the beginning of each quarter thereafter. No amounts were excluded from effectiveness testing.

Undesignated Contracts

The Company records immediately in earnings changes in the fair value of hedges that are not designated as effective hedging instruments (“undesignated contracts”), including foreign currency forward exchange contracts related to third party and intercompany transactions, and intercompany loans that are not of a long-term investment nature. Any gains and losses that are immediately recognized in earnings on such contracts are largely offset by the remeasurement of the underlying balances.

The Company does not use derivative or non-derivative financial instruments for trading or speculative purposes. The cash flows from the Company’s hedges are presented in the same category in the Company’s Consolidated Statements of Cash Flows as the items being hedged.

The following table summarizes the fair value and presentation of the Company’s derivative financial instruments in its Consolidated Balance Sheets:


(In millions)	Assets																							Liabilities
	8/2/20						2/2/20						8/4/19					8/2/20						2/2/20		8/4/19
	Other Current Assets		Other Assets		Other Current Assets		Other Assets		Other Current Assets		Other Assets			Accrued Expenses		Other Liabilities		Accrued Expenses		Other Liabilities		Accrued Expenses		Other Liabilities
Contracts designated as cash flow hedges:
Foreign currency forward exchange contracts (inventory purchases)	$	3.0	$	—	$	21.4	$	0.4	$	36.0	$	0.7		$	23.4	$	0.2	$	1.2	$	0.1	$	1.6	$	0.1
Interest rate swap agreements	—		—		0.1		—		0.3		—			8.3		2.9		5.5		0.4		4.1		2.9
Total contracts designated as cash flow hedges	3.0		—		21.5		0.4		36.3		0.7			31.7		3.1		6.7		0.5		5.7		3.0
Undesignated contracts:
Foreign currency forward exchange contracts	2.8		—		1.5		—		3.8		—			6.4		—		0.9		—		2.2		—


Total	$	5.8	$	—	$	23.0	$	0.4	$	40.1	$	0.7		$	38.1	$	3.1	$	7.6	$	0.5	$	7.9	$	3.0

The notional amount outstanding of foreign currency forward exchange contracts was $1,002.0 million at August 2, 2020. Such contracts expire principally between August 2020 and November 2021.

The following tables summarize the effect of the Company’s hedges designated as cash flow and net investment hedging instruments:


	(Loss) Gain Recognized in Other Comprehensive Income (Loss)

(In millions)

Thirteen Weeks Ended	8/2/20		8/4/19
Foreign currency forward exchange contracts (inventory purchases)	$	(57.9)	$	12.4
Interest rate swap agreements	(0.6)		(4.0)
Foreign currency borrowings (net investment hedges)	(108.1)		4.6
Total	$	(166.6)	$	13.0

Twenty-Six Weeks Ended	8/2/20		8/4/19
Foreign currency forward exchange contracts (inventory purchases)	$	(36.1)	$	42.5
Interest rate swap agreements	(10.0)		(5.1)
Foreign currency borrowings (net investment hedges)	(92.9)		34.2
Total	$	(139.0)	$	71.6


	Amount of Gain (Loss) Reclassified from AOCL into Income (Expense), Consolidated Statements of Operations Location, and Total Amount of Consolidated Statements of Operations Line Item
(In millions)	Amount Reclassified					Location		Total Statements of Operations Amount

Thirteen Weeks Ended	8/2/20		8/4/19			8/2/20		8/4/19
Foreign currency forward exchange contracts (inventory purchases)	$	0.9	$	10.7	Cost of goods sold	$	697.4	$	1,075.8
Interest rate swap agreements	(2.9)		0.0		Interest expense	32.7		28.3
Total	$	(2.0)	$	10.7

Twenty-Six Weeks Ended	8/2/20		8/4/19			8/2/20		8/4/19
Foreign currency forward exchange contracts (inventory purchases)	$	3.1	$	25.7	Cost of goods sold	$	1,375.5	$	2,136.2
Interest rate swap agreements	(4.6)		0.2		Interest expense	55.2		59.3

Total	$	(1.5)	$	25.9

A net loss in AOCL on foreign currency forward exchange contracts at August 2, 2020 of $7.3 million is estimated to be reclassified in the next 12 months in the Company’s Consolidated Statement of Operations to cost of goods sold as the underlying inventory hedged by such forward exchange contracts is sold. In addition, a net loss in AOCL for interest rate swap agreements at August 2, 2020 of $8.3 million is estimated to be reclassified to interest expense within the next 12 months. Amounts recognized in AOCL for foreign currency borrowings would be recognized in earnings only upon the sale or substantially complete liquidation of the hedged net investment.

The following table summarizes the effect of the Company’s undesignated contracts recognized in SG&A expenses in its Consolidated Statements of Operations:


(In millions)	(Loss) Gain Recognized in (Expense) Income
Thirteen Weeks Ended	8/2/20		8/4/19

Foreign currency forward exchange contracts	$	(4.7)	$	0.8

Twenty-Six Weeks Ended	8/2/20		8/4/19
Foreign currency forward exchange contracts	$	(4.1)	$	0.7

The Company had no derivative financial instruments with credit risk-related contingent features underlying the related contracts as of August 2, 2020.

FAIR VALUE MEASUREMENTS

6 Months Ended

Aug. 02, 2020

FAIR VALUE MEASUREMENTS

12. FAIR VALUE MEASUREMENTS

In accordance with accounting principles generally accepted in the United States, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three level hierarchy prioritizes the inputs used to measure fair value as follows:

Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 – Observable inputs other than quoted prices included in Level 1, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data.

Level 3 – Unobservable inputs reflecting the Company’s own assumptions about the inputs that market participants would use in pricing the asset or liability based on the best information available.

In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company’s financial assets and liabilities that are required to be remeasured at fair value on a recurring basis:


	8/2/20										2/2/20								8/4/19
(In millions)	Level 1	Level 2		Level 3	Total		Level 1	Level 2		Level 3	Total		Level 1	Level 2		Level 3	Total
Assets:
Foreign currency forward exchange contracts	N/A	$	5.8	N/A	$	5.8	N/A	$	23.3	N/A	$	23.3	N/A	$	40.5	N/A	$	40.5
Interest rate swap agreements	N/A	—		N/A	—		N/A	0.1		N/A	0.1		N/A	0.3		N/A	0.3
Total Assets	N/A	$	5.8	N/A	$	5.8	N/A	$	23.4	N/A	$	23.4	N/A	$	40.8	N/A	$	40.8

Liabilities:
Foreign currency forward exchange contracts	N/A	$	30.0	N/A	$	30.0	N/A	$	2.2	N/A	$	2.2	N/A	$	3.9	N/A	$	3.9
Interest rate swap agreements	N/A	11.2		N/A	11.2		N/A	5.9		N/A	5.9		N/A	7.0		N/A	7.0


Total Liabilities	N/A	$	41.2	N/A	$	41.2	N/A	$	8.1	N/A	$	8.1	N/A	$	10.9	N/A	$	10.9

The fair value of the foreign currency forward exchange contracts is measured as the total amount of currency to be purchased, multiplied by the difference between (i) the forward rate as of the period end and (ii) the settlement rate specified in each contract. The fair value of the interest rate swap agreements is based on observable interest rate yield curves and represents the expected discounted cash flows underlying the financial instruments.

There were no transfers between any levels of the fair value hierarchy for any of the Company’s fair value measurements.

The Company’s non-financial assets, which primarily consist of goodwill, other intangible assets, property, plant and equipment, and operating lease right-of-use assets, are not required to be measured at fair value on a recurring basis, and instead are reported at their carrying amount. However, on a periodic basis whenever events or changes in circumstances indicate that their carrying amount may not be fully recoverable (and at least annually for goodwill and indefinite-lived intangible assets), non-financial assets are assessed for impairment. If the fair value is determined to be lower than the carrying amount, an impairment charge is recorded to write down the asset to its fair value. As a result of the significant adverse impacts of the COVID-19 pandemic on its business, the Company determined in the first quarter of 2020 that sufficient indicators existed to trigger the performance of an interim impairment analysis for certain of the Company’s non-financial assets. In addition, the Company announced in July 2020 its plan to exit its Heritage Brands Retail business by mid-2021. The Company’s decision to exit the Heritage Brands Retail business, which consists of 162 stores in North America, triggered the performance of an interim impairment analysis in the second quarter of 2020 for the Heritage Brands Retail non-financial assets. Please see Note 16, “Exit Activity Costs,” for further discussion of the Heritage Brands Retail exit costs.

The following tables show the fair values of the Company’s non-financial assets that were required to be remeasured at fair value on a non-recurring basis during the twenty-six weeks ended August 2, 2020 and August 4, 2019, and the total impairments recorded as a result of the remeasurement process:



(In millions)	Fair Value Measurement Using								Fair Value As Of Impairment Date	Total Impairments
8/2/20	Level 1	Level 2	Level 3

Property, plant and equipment, net	N/A	N/A	$	1.1	$	1.1	$	23.2
Goodwill	N/A	N/A	652.6		652.6		879.0
Tradenames	N/A	N/A	48.7		48.7		47.2
Other intangible assets, net	N/A	N/A	—		—		7.3
Investments in unconsolidated affiliates	N/A	N/A	—		—		12.3

8/4/19
Operating lease right-of-use assets	N/A	N/A	16.8		16.8		77.0
Property, plant and equipment, net	N/A	N/A	—		—		10.8

Property, plant and equipment with a carrying amount of $17.1 million was written down to a fair value of $1.1 million during the twenty-six weeks ended August 2, 2020, primarily as a result of the adverse impacts the COVID-19 pandemic has had, and is expected to continue to have, on the Company’s retail stores with lease terms expiring by the end of fiscal 2021 with no intention of renewal, including temporary store closures and reduced traffic and consumer spending trends. Fair value of the Company’s property, plant and equipment was determined based on the estimated discounted future cash flows associated with the assets using sales trends and market participant assumptions.

Property, plant and equipment with a carrying amount of $7.2 million was written down to a fair value of zero during the twenty-six weeks ended August 2, 2020 in connection with the planned exit from the Heritage Brands Retail business by mid-2021. Fair value of the Company’s Heritage Brands Retail business property, plant and equipment was determined based on the estimated discounted future cash flows associated with the assets using sales trends and market participant assumptions.

Goodwill with a carrying amount of $1,531.6 million was written down to a fair value of $652.6 million during the twenty-six weeks ended August 2, 2020. Please see Note 7, “Goodwill and Other Intangible Assets,” for further discussion.

Tradenames with a carrying amount of $95.9 million were written down to a fair value of $48.7 million during the twenty-six weeks ended August 2, 2020. Please see Note 7, “Goodwill and Other Intangible Assets,” for further discussion.

Other intangible assets with a carrying amount of $7.3 million were written down to a fair value of zero during the twenty-six weeks ended August 2, 2020. Please see Note 7, “Goodwill and Other Intangible Assets,” for further discussion.

The Company’s equity method investment in Karl Lagerfeld with a carrying amount of $12.3 million was written down to a fair value of zero during the twenty-six weeks ended August 2, 2020. Please see Note 6, “Investments in Unconsolidated Affiliates,” for further discussion.

The $969.0 million of impairment charges during the twenty-six weeks ended August 2, 2020 were recorded in the Company’s Consolidated Statements of Operations, of which $933.5 million was included in goodwill and other intangible asset impairments, $23.2 million was included in SG&A expenses, and $12.3 million was included in equity in net (loss) income of unconsolidated affiliates. The $969.0 million of impairment charges were recorded to the Company’s segments as follows: $395.8 million in the Calvin Klein International segment, $293.1 million in the Calvin Klein North America segment, $249.6 million in the Heritage Brands Wholesale segment, $11.0 million in the Heritage Brands Retail segment, $4.1 million in the Tommy Hilfiger North America segment, $3.1 million in the Tommy Hilfiger International segment and $12.3 million was recorded in corporate expenses not allocated to any reportable segments.

Operating lease right-of-use assets with a carrying amount of $93.8 million were written down to a fair value of $16.8 million during the twenty-six weeks ended August 4, 2019 as a result of the closure during the first quarter of 2019 of the Company’s TOMMY HILFIGER flagship and anchor stores in the United States (the “TH U.S. store closures”) and the closure during the first quarter of 2019 of the Company’s CALVIN KLEIN flagship store on Madison Avenue in New York, New York in connection with the restructuring associated with the strategic changes for the Calvin Klein business announced in January 2019 (the “Calvin Klein restructuring”). Fair value of the operating lease right-of-use assets was determined based on the discounted cash flows of estimated sublease income using market participant assumptions.

Property, plant and equipment with a carrying amount of $10.8 million was written down to a fair value of zero during the twenty-six weeks ended August 4, 2019 primarily in connection with the TH U.S. store closures, the closure of the Company’s CALVIN KLEIN 205 W39 NYC brand in connection with the Calvin Klein restructuring, and the financial performance in certain of the Company’s retail stores, including certain CALVIN KLEIN stores affected by the realignment of the Calvin Klein creative direction globally. Fair value of the Company’s property, plant and equipment was determined based on the estimated discounted future cash flows associated with the assets using sales trends and market participant assumptions.

The $87.8 million of impairment charges during the twenty-six weeks ended August 4, 2019 were included in SG&A expenses, of which $49.6 million was recorded in the Tommy Hilfiger North America segment, $32.6 million was recorded in the Calvin Klein North America segment and $5.6 million was recorded in the Calvin Klein International segment.

The carrying amounts and the fair values of the Company’s cash and cash equivalents, short-term borrowings and long-term debt were as follows:


	8/2/20						2/2/20						8/4/19
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value

Cash and cash equivalents	$	1,394.3	$	1,394.3	$	503.4	$	503.4	$	433.5	$	433.5
Short-term borrowings	70.6		70.6		49.6		49.6		183.2		183.2

Long-term debt (including portion classified as current)	3,513.1		3,552.3		2,707.7		2,869.7		2,784.2		2,949.6

The fair values of cash and cash equivalents and short-term borrowings approximate their carrying amounts due to the short-term nature of these instruments. The Company estimates the fair value of its long-term debt using quoted market prices as of the last business day of the applicable quarter. The Company classifies the measurement of its long-term debt as a Level 1 measurement. The carrying amounts of long-term debt reflect the unamortized portions of debt issuance costs and the original issue discounts.

Share-based Payment Arrangement [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

STOCK-BASED COMPENSATION

6 Months Ended

Aug. 02, 2020

STOCK-BASED COMPENSATION

The Company grants stock-based awards under its Stock Incentive Plan (the “Plan”). Shares issued as a result of stock-based compensation transactions generally have been funded with the issuance of new shares of the Company’s common stock.

The Company may grant the following types of incentive awards under the Plan: (i) non-qualified stock options (“stock options”); (ii) incentive stock options; (iii) stock appreciation rights; (iv) restricted stock; (v) restricted stock units (“RSUs”); (vi) performance shares; (vii) performance share units (“PSUs”); and (viii) other stock-based awards. Each award granted under the Plan is subject to an award agreement that incorporates, as applicable, the exercise price, the term of the award, the periods of restriction, the number of shares to which the award pertains, performance periods and performance measures, and such other terms and conditions as the plan committee determines. Awards granted under the Plan are classified as equity awards, which are recorded in stockholders’ equity in the Company’s Consolidated Balance Sheets.

Through August 2, 2020, the Company has granted under the Plan (i) service-based stock options, RSUs and restricted stock; and (ii) contingently issuable PSUs and RSUs. There was no restricted stock outstanding as of August 2, 2020.

According to the terms of the Plan, for purposes of determining the number of shares available for grant, each share underlying a stock option award reduces the number available by one share and each share underlying an RSU or PSU award reduces the number available by two shares.

Net (loss) income for the twenty-six weeks ended August 2, 2020 and August 4, 2019 included $21.8 million and $28.3 million, respectively, of pre-tax expense related to stock-based compensation, with related recognized income tax benefits of $2.7 million and $3.4 million, respectively.

The Company receives a tax deduction for certain transactions associated with its stock-based awards. The actual income tax benefits realized from these transactions during the twenty-six weeks ended August 2, 2020 and August 4, 2019 were $2.1 million and $8.5 million, respectively. The tax benefits realized included discrete net excess tax (deficiencies) benefits of $(5.1) million and $1.1 million recognized in the Company’s provision for income taxes during the twenty-six weeks ended August 2, 2020 and August 4, 2019, respectively.

Stock Options

Stock options granted to employees are generally exercisable in four equal annual installments commencing one year after the date of grant. The underlying stock option award agreements generally provide for accelerated vesting upon the award recipient’s retirement (as defined in the Plan). Such stock options are granted with a 10-year term and the per share exercise price cannot be less than the closing price of the common stock on the date of grant.

The Company estimates the fair value of stock options at the date of grant using the Black-Scholes-Merton model. The estimated fair value of the stock options granted is expensed over the stock options’ vesting periods.

The following summarizes the assumptions used to estimate the fair value of stock options granted during the twenty-six weeks ended August 2, 2020 and August 4, 2019 and the resulting weighted average grant date fair value per stock option:


	8/2/20			8/4/19
Weighted average risk-free interest rate	0.53		%	2.15		%
Weighted average expected stock option term (in years)	6.25			6.25
Weighted average Company volatility	44.80		%	29.88		%
Expected annual dividends per share	$	0.15		$	0.15
Weighted average grant date fair value per stock option	$	20.20		$	37.14

The risk-free interest rate is based on United States Treasury yields in effect at the date of grant for periods corresponding to the expected stock option term. The expected stock option term represents the weighted average period of time that stock options granted are expected to be outstanding, based on vesting schedules and the contractual term of the stock options. Company volatility is based on the historical volatility of the Company’s common stock over a period of time corresponding to the expected stock option term. Expected dividends are based on the Company’s anticipated common stock cash dividend rate; the dividend assumption for the stock options granted during the twenty-six weeks ended August 2, 2020 was not affected by the Company's suspension of its cash dividend beginning with the second quarter of 2020 in response to the impacts of the COVID-19 pandemic on its business and as a condition of the June 2020 Amendment, as such suspension was viewed as temporary.

The Company has continued to utilize the simplified method to estimate the expected term for its “plain vanilla” stock options granted due to a lack of relevant historical data resulting, in part, from changes in the pool of employees receiving stock option grants. The Company will continue to evaluate the appropriateness of utilizing such method.

Stock option activity for the twenty-six weeks ended August 2, 2020 was as follows:


(In thousands, except per stock option data)	Stock Options	Weighted Average Exercise Price Per Stock Option
Outstanding at February 2, 2020	902	$	109.25
Granted	167	48.07
Exercised	—	—
Cancelled	22	74.50
Outstanding at August 2, 2020	1,047	$	100.23
Exercisable at August 2, 2020	699	$	108.03

RSUs

RSUs granted to employees generally vest in four equal annual installments commencing one year after the date of grant. Service-based RSUs granted to non-employee directors vest in full one year after the date of grant. The underlying RSU award agreements (excluding agreements for non-employee director awards) generally provide for accelerated vesting upon the award recipient’s retirement (as defined in the Plan). The fair value of RSUs is equal to the closing price of the Company’s common stock on the date of grant and is expensed over the RSUs’ vesting periods.

RSU activity for the twenty-six weeks ended August 2, 2020 was as follows:


(In thousands, except per RSU data)	RSUs	Weighted Average Grant Date Fair Value Per RSU
Non-vested at February 2, 2020	996	$	117.28
Granted	464	47.76
Vested	328	115.35
Cancelled	68	108.19
Non-vested at August 2, 2020	1,064	$	88.11

PSUs

Contingently issuable PSUs granted to certain of the Company’s senior executives since 2015 are subject to a three-year performance period. For such awards, the final number of shares to be earned, if any, is contingent upon the Company’s achievement of goals for the applicable performance period, of which 50% is based upon the Company’s absolute stock price growth during the applicable performance period and 50% is based upon the Company’s total shareholder return during the applicable performance period relative to other companies included in the S&P 500 as of the date of grant. For awards granted in 2017, the three-year performance period ended during the first quarter of 2020 and holders of the awards did not earn any shares since the market condition was not satisfied. The Company records expense ratably over the applicable vesting period regardless of whether the market condition is satisfied because the awards are subject to market conditions. The fair value of the awards granted was established for each grant on the grant date using the Monte Carlo simulation model.

The following summarizes the assumptions used to estimate the fair value of PSUs granted during the twenty-six weeks ended August 2, 2020 and August 4, 2019 and the resulting weighted average grant date fair value per PSU:


	8/2/20			8/4/19
Risk-free interest rate	0.20		%	2.13		%
Expected Company volatility	48.91		%	30.25		%
Expected annual dividends per share	$	0.15		$	0.15
Weighted average grant date fair value per PSU	$	58.83		$	119.46

The risk-free interest rate is based on United States Treasury yields in effect at the date of grant for the term corresponding to the three-year performance period. Company volatility is based on the historical volatility of the Company’s common stock over a period of time corresponding to the three-year performance period. Expected dividends are based on the Company’s anticipated common stock cash dividend rate; the dividend assumption for the PSUs granted during the twenty-six weeks ended August 2, 2020 was not affected by the Company's suspension of its cash dividend beginning with the second quarter of 2020 in response to the impacts of the COVID-19 pandemic on its business and as a condition of the June 2020 Amendment, as such suspension was viewed as temporary.

For certain of the awards granted, the after-tax portion of the award is subject to a holding period of one year after the vesting date. For such awards, the grant date fair value was discounted 15.05% in 2020 and 6.20% in 2019 for the restriction of liquidity, which was calculated using the Chaffe model.

PSU activity for the twenty-six weeks ended August 2, 2020 was as follows:


(In thousands, except per PSU data)	PSUs	Weighted Average Grant Date Fair Value Per PSU
Non-vested at February 2, 2020	181	$	119.63
Granted at target	75	58.83
Reduction due to market condition not satisfied	70	96.47
Vested	—	—
Cancelled	—	—
Non-vested at August 2, 2020	186	$	103.94

ACCUMULATED OTHER COMPREHENSIVE LOSS

6 Months Ended

Aug. 02, 2020

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables present the changes in AOCL, net of related taxes, by component for the twenty-six weeks ended August 2, 2020 and August 4, 2019:


(In millions)	Foreign currency translation adjustments			Net unrealized and realized gain (loss) on effective cash flow hedges		Total
Balance, February 2, 2020	$	(665.7)		$	25.6	$	(640.1)
Other comprehensive income (loss) before reclassifications	60.5		⁽¹⁾⁽²⁾	(43.6)		16.9
Less: Amounts reclassified from AOCL	—			(0.6)		(0.6)
Other comprehensive income (loss)	60.5			(43.0)		17.5
Balance, August 2, 2020	$	(605.2)		$	(17.4)	$	(622.6)


(In millions)	Foreign currency translation adjustments			Net unrealized and realized gain on effective cash flow hedges		Total
Balance, February 3, 2019	$	(537.6)		$	29.7	$	(507.9)
Other comprehensive (loss) income before reclassifications	(116.4)		⁽¹⁾⁽³⁾	37.3		(79.1)
Less: Amounts reclassified from AOCL	—			24.4		24.4
Other comprehensive (loss) income	(116.4)			12.9		(103.5)
Balance, August 4, 2019	$	(654.0)		$	42.6	$	(611.4)

⁽¹⁾Foreign currency translation adjustments included a net (loss) gain on net investment hedges of $(70.3) million and $25.9 million during the twenty-six weeks ended August 2, 2020 and August 4, 2019, respectively.

⁽²⁾Favorable foreign currency translation adjustments were principally driven by a weakening of the United States dollar against the euro.

⁽³⁾Unfavorable foreign currency translation adjustments were principally driven by a strengthening of the United States dollar against the euro.

The following table presents reclassifications from AOCL to earnings for the thirteen and twenty-six weeks ended August 2, 2020 and August 4, 2019:


	Amount Reclassified from AOCL									Affected Line Item in the Company’s Consolidated Statements of Operations
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19		8/2/20		8/4/19
Realized gain (loss) on effective cash flow hedges:
Foreign currency forward exchange contracts (inventory purchases)	$	0.9	$	10.7	$	3.1	$	25.7	Cost of goods sold
Interest rate swap agreements	(2.9)		0.0		(4.6)		0.2		Interest expense
Less: Tax effect	(0.7)		0.6		(0.9)		1.5		Income tax expense (benefit)
Total, net of tax	$	(1.3)	$	10.1	$	(0.6)	$	24.4

STOCKHOLDERS' EQUITY	6 Months Ended
STOCKHOLDERS' EQUITY	Aug. 02, 2020
Stockholders' Equity Attributable to Parent [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Acquisition of Treasury Shares The Company’s Board of Directors has authorized over time since 2015 an aggregate $2.0 billion stock repurchase program through June 3, 2023. The program may be modified by the Board of Directors, including to increase or decrease the repurchase limitation or extend, suspend, or terminate the program, at any time, without prior notice. The Company suspended share repurchases under the stock repurchase program beginning in mid-March 2020, following the purchase of 1.4 million shares in open market transactions for $110.7 million completed in the first quarter, in order to increase its cash position and preserve financial flexibility in response to the impacts of the COVID-19 pandemic on its business. In addition, under the terms of the June 2020 Amendment, share repurchases are not permitted during the relief period (as defined). Please see Note 9, “Debt,” for further discussion. The existing stock repurchase program remains authorized by the Board of Directors and the Company may resume share repurchases after the restrictions under the June 2020 Amendment lapse. As of August 2, 2020, the repurchased shares were held as treasury stock and $572.6 million of the authorization remained available for future share repurchases. Repurchases under the program, when it is being used, may be made from time to time over the period through open market purchases, accelerated share repurchase programs, privately negotiated transactions or other methods, as the Company deems appropriate. Purchases are made based on a variety of factors, such as price, corporate requirements and overall market conditions, applicable legal requirements and limitations, trading restrictions under the Company’s insider trading policy and other relevant factors. During the twenty-six weeks ended August 4, 2019, the Company purchased 1.2 million shares of its common stock under the program in open market transactions for $126.9 million. Treasury stock activity also includes shares that were withheld in conjunction with the settlement of RSUs and PSUs to satisfy tax withholding requirements. Common Stock Dividends The Company declared a $0.0375 per share dividend payable to its common stockholders of record as of March 4, 2020, in respect of which the Company made dividend payments totaling $2.7 million on March 31, 2020. Following the payment of the $0.0375 per common share dividend on March 31, 2020, the Company suspended its dividends in order to increase its cash position and preserve financial flexibility in response to the impacts of the COVID-19 pandemic on its business. In addition, under the terms of the June 2020 Amendment, dividend payments are not permitted during the relief period (as defined). Please see Note 9, “Debt,” for further discussion. The Company declared three $0.0375 per share dividends payable to its common stockholders totaling $8.5 million during the twenty-six weeks ended August 4, 2019.

EXIT ACTIVITY COSTS

6 Months Ended

Aug. 02, 2020

EXIT ACTIVITY COSTS [Abstract]

EXIT ACTIVITY COSTS

Heritage Brands Retail Exit Costs

The Company announced on July 14, 2020 plans to streamline its North American operations to better align its business with the evolving retail landscape, including the exit from its Heritage Brands Retail business, which consists of 162 stores in North America, by mid-2021. In connection with the planned exit from the Heritage Brands Retail business, the Company recorded pre-tax costs during the thirteen and twenty-six weeks ended August 2, 2020 and expects to incur total costs as follows:


(In millions)	Total Costs Expected to be Incurred		Costs Incurred During the Thirteen and Twenty-Six Weeks Ended 8/2/20
Severance, termination benefits and other employee costs	$	17.0	$	3.8
Long-lived asset impairments	7.2		7.2
Accelerated amortization of lease assets	15.8		1.3
Inventory markdowns	10.0		—
Total	$	50.0	$	12.3

The charges for severance, termination benefits and other employee costs, long-lived asset impairments and accelerated amortization of lease assets incurred during the thirteen and twenty-six weeks ended August 2, 2020 relate to SG&A expenses of the Heritage Brands Retail segment. The Company expects to incur total costs of approximately $50 million through the second quarter of 2021 in connection with the planned exit from the Heritage Brands Retail business. Please see Note 19, “Segment Data,” for further discussion of the Company’s reportable segments.

Please see Note 12, “Fair Value Measurements,” for further discussion of the long-lived asset impairments recorded during the thirteen and twenty-six weeks ended August 2, 2020.

The liabilities at August 2, 2020 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheet and were as follows:


(In millions)	Liability at 2/2/20		Costs Incurred During the Twenty-Six Weeks Ended 8/2/20		Costs Paid During the Twenty-Six Weeks Ended 8/2/20		Liability at 8/2/20
Severance, termination benefits and other employee costs	$	—	$	3.8	$	—	$	3.8

North America Office Workforce Reduction

In connection with the Company’s plans to streamline its North American operations, the Company also announced on July 14, 2020 a reduction in its office workforce by approximately 450 positions, or 12%, across all three brand businesses and corporate functions (the “North America workforce reduction”). In connection with the North America workforce reduction, the Company recorded pre-tax costs during the thirteen and twenty-six weeks ended August 2, 2020 and expects to incur total costs as follows:


(In millions)	Total Costs Expected to be Incurred		Costs Incurred During the Thirteen and Twenty-Six Weeks Ended 8/2/20
Severance, termination benefits and other employee costs	$	40.0	$	38.4

Of the costs incurred during the thirteen and twenty-six weeks ended August 2, 2020, $3.0 million relates to special termination benefits included in non-service related pension and postretirement income and $35.4 million relates to SG&A expenses. Please see Note 8, “Retirement and Benefit Plans,” for further discussion of the special termination benefits. Of the above charges incurred during the thirteen and twenty-six weeks ended August 2, 2020, $11.2 million relate to the Heritage Brands Wholesale segment, $10.9 million relate to the Tommy Hilfiger North America segment, $10.5 million relate to the Calvin Klein North America segment and $5.8 million relate to corporate expenses not allocated to any reportable segment. The Company expects to incur total costs of approximately $40 million during 2020 in connection with the North America workforce reduction. Please see Note 19, “Segment Data,” for further discussion of the Company’s reportable segments.

The liabilities at August 2, 2020 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheet and were as follows:


(In millions)	Liability at 2/2/20		Costs Incurred During the Twenty-Six Weeks Ended 8/2/20		Costs Paid During the Twenty-Six Weeks Ended 8/2/20		Liability at 8/2/20
Severance, termination benefits and other employee costs⁽¹⁾	$	—	$	35.4	$	—	$	35.4

(1) The liability at August 2, 2020 excludes the $3.0 million of costs related to the special termination benefits, which are recorded in the pension benefit obligation in the Company’s Consolidated Balance Sheet as of August 2, 2020.

NET (LOSS) INCOME PER COMMON SHARE

6 Months Ended

Aug. 02, 2020

Earnings Per Share [Abstract]

NET (LOSS) INCOME PER COMMON SHARE

The Company computed its basic and diluted net (loss) income per common share as follows:


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions, except per share data)	8/2/20		8/4/19		8/2/20		8/4/19

Net (loss) income attributable to PVH Corp.	$	(51.4)	$	193.5	$	(1,148.2)	$	275.5

Weighted average common shares outstanding for basic net (loss) income per common share	71.1		74.8		71.2		75.0
Weighted average impact of dilutive securities	—		0.3		—		0.5

Total shares for diluted net (loss) income per common share	71.1		75.1		71.2		75.5

Basic net (loss) income per common share attributable to PVH Corp.	$	(0.72)	$	2.59	$	(16.12)	$	3.67

Diluted net (loss) income per common share attributable to PVH Corp.	$	(0.72)	$	2.58	$	(16.12)	$	3.65

Potentially dilutive securities excluded from the calculation of diluted net (loss) income per common share as the effect would be anti-dilutive were as follows:

Thirteen Weeks Ended

Twenty-Six Weeks Ended

(In millions)

8/2/20

8/4/19

8/2/20

8/4/19

Weighted average potentially dilutive securities

2.2

1.3

2.1

0.9

Diluted net loss per common share attributable to PVH Corp. for the thirteen and twenty-six weeks ended August 2, 2020 excluded all potentially dilutive securities because there was a net loss attributable to PVH Corp. for the periods and, as such, the inclusion of these securities would have been anti-dilutive.

Shares underlying contingently issuable awards that have not met the necessary conditions as of the end of a reporting period are not included in the calculation of diluted net (loss) income per common share for that period. The Company had contingently issuable PSU awards outstanding that did not meet the performance conditions as of August 4, 2019 and, therefore, were excluded from the calculation of diluted net (loss) income per common share for the thirteen and twenty-six weeks ended August 4, 2019. The maximum number of potentially dilutive shares that could be issued upon vesting for these PSU awards was 0.4 million as of both August 2, 2020 and August 4, 2019. These amounts were also excluded from the computation of weighted average potentially dilutive securities in the table above.

SUPPLEMENTAL CASH FLOW INFORMATION

6 Months Ended

Aug. 02, 2020

Cash Flow, Supplemental Disclosures

SUPPLEMENTAL CASH FLOW INFORMATION

Noncash Investing and Financing Transactions

The Company completed the Australia acquisition in the second quarter of 2019. Omitted from the Company’s Consolidated Statement of Cash Flows for the twenty-six weeks ended August 4, 2019 was the following noncash acquisition consideration: (i) the issuance to key executives of Gazal and PVH Australia of approximately 6% of the outstanding shares in the subsidiary of the Company that acquired 100% of the ownership interests in the Australia business, for which the Company recognized a $26.2 million liability on the date of the acquisition and (ii) the elimination of a $2.2 million pre-acquisition receivable owed to the Company by PVH Australia. In connection with the acquisition, the Company also remeasured its previously held equity investments in Gazal and PVH Australia to fair value, resulting in noncash increases of $23.6 million and $89.5 million, respectively, to these equity investment balances. The Company settled in June 2020 a portion of the liability for the 6% interest issued to key executives of Gazal and PVH Australia under the conditions specified in the terms of the acquisition agreement. Please see Note 4, “Acquisitions and Divestitures,” for further discussion of the payment. The Company recorded an expense of $0.9 million during the twenty-six weeks ended August 2, 2020 resulting from the remeasurement of the remaining liability to its redemption value as of August 2, 2020. The liability was $18.8 million as of August 2, 2020 based on exchange rates in effect on that date.

Omitted from proceeds from 4 5/8% senior notes, net of related fees in the Company’s Consolidated Statement of Cash Flows for the twenty-six weeks ended August 2, 2020 were $1.0 million of debt issuance costs incurred in connection with the issuance of $500.0 million principal amount of 4 5/8% senior notes due 2025 that were accrued as of August 2, 2020.

The Company recorded a loss of $1.7 million during the twenty-six weeks ended August 4, 2019 to write-off previously capitalized debt issuance costs in connection with the refinancing of its senior credit facilities.

Omitted from acquisition of treasury shares in the Company’s Consolidated Statement of Cash Flows for the twenty-six weeks ended August 4, 2019 was $2.0 million of shares repurchased under the stock repurchase program for which the trades occurred but remained unsettled as of the end of the respective period.

Lease Transactions

Supplemental cash flow information related to leases was as follows:


	Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	180.8	$	234.5
Operating cash flows from finance leases	0.2		0.3
Financing cash flows from finance leases	2.7		2.9
Non-cash transactions:
Right-of-use assets obtained in exchange for new operating lease liabilities	168.9		244.1
Right-of-use assets obtained in exchange for new finance lease liabilities	1.7		1.4

The Company continues to take proactive actions in response to the COVID-19 pandemic and has sought concessions from landlords for certain of its stores affected by temporary closures as a result of COVID-19 in the form of rent deferrals or rent abatements. Consistent with updated guidance issued by the Financial Accounting Standards Board (“FASB”) in April 2020, the Company has elected to treat COVID-19 related rent concessions as though enforceable rights and obligations for those concessions existed in the original contract. As such, rent abatements negotiated with landlords are recorded as a reduction to variable lease expense included in SG&A expenses in the Company’s Consolidated Statements of Operations. The Company recorded $19.3 million and $31.7 million of rent abatements during the thirteen and twenty-six weeks ended August 2, 2020, respectively. Rent deferrals have no impact to lease expense and amounts deferred and payable in future periods are included in the current portion of operating lease liabilities in the Company’s Consolidated Balance Sheet.

SEGMENT DATA

6 Months Ended

Aug. 02, 2020

SEGMENT DATA

The Company manages its operations through its operating divisions, which are presented as six reportable segments: (i) Tommy Hilfiger North America; (ii) Tommy Hilfiger International; (iii) Calvin Klein North America; (iv) Calvin Klein International; (v) Heritage Brands Wholesale; and (vi) Heritage Brands Retail.

Tommy Hilfiger North America Segment - This segment consists of the Company’s Tommy Hilfiger North America division. This segment derives revenue principally from (i) marketing TOMMY HILFIGER branded apparel and related products at wholesale in the United States and Canada, primarily to department stores, warehouse clubs, and off-price and independent retailers, as well as digital commerce sites operated by department store customers and pure play digital commerce retailers; (ii) operating retail stores, which are primarily located in premium outlet centers in the United States and Canada, and a digital commerce site in the United States, which sell TOMMY HILFIGER branded apparel, accessories and related products; and (iii) licensing and similar arrangements relating to the use by third parties of the TOMMY HILFIGER brand names for a broad array of product categories in North America. This segment also includes the Company’s proportionate share of the net income or loss of its investment in its unconsolidated foreign affiliate in Mexico relating to the affiliate’s Tommy Hilfiger business and, since December 2019, the Company’s proportionate share of the net income or loss of its investment in its unconsolidated PVH Legwear LLC (“PVH Legwear”) affiliate relating to the affiliate’s Tommy Hilfiger business.

Tommy Hilfiger International Segment - This segment consists of the Company’s Tommy Hilfiger International division. This segment derives revenue principally from (i) marketing TOMMY HILFIGER branded apparel and related products at wholesale principally in Europe, Asia and, since May 31, 2019, Australia, primarily to department and specialty stores, and digital commerce sites operated by department store customers and pure play digital commerce retailers, as well as through distributors and franchisees; (ii) operating retail stores, concession locations and digital commerce sites in Europe, Asia (including the TH CSAP acquisition) and, since May 31, 2019, Australia, which sell TOMMY HILFIGER branded apparel, accessories and related products; and (iii) licensing and similar arrangements relating to the use by third parties of the TOMMY HILFIGER brand names for a broad array of product categories outside of North America. This segment also includes the Company’s proportionate share of the net income or loss of its investments in its unconsolidated Tommy Hilfiger foreign affiliates in Brazil and India. This segment included the Company’s proportionate share of the net income or loss of its investment in PVH Australia relating to its Tommy Hilfiger business until May 31, 2019, on which date the Company completed the Australia acquisition and began to consolidate the operations of PVH Australia into its financial statements. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

Calvin Klein North America Segment - This segment consists of the Company’s Calvin Klein North America division. This segment derives revenue principally from (i) marketing CALVIN KLEIN branded apparel and related products at wholesale in the United States and Canada, primarily to warehouse clubs, department and specialty stores, and off-price and independent retailers, as well as digital commerce sites operated by department store customers and pure play digital commerce retailers; (ii) operating retail stores, which are primarily located in premium outlet centers, and digital commerce sites in the United States and Canada, which sell CALVIN KLEIN branded apparel, accessories and related products; and (iii) licensing and similar arrangements relating to the use by third parties of the CALVIN KLEIN brand names for a broad array of product categories in North America. This segment also includes the Company’s proportionate share of the net income or loss of its investment in its unconsolidated foreign affiliate in Mexico relating to the affiliate’s Calvin Klein business and, since December 2019, the Company’s proportionate share of the net income or loss of its investment in its unconsolidated PVH Legwear affiliate relating to the affiliate’s Calvin Klein business.

Calvin Klein International Segment - This segment consists of the Company’s Calvin Klein International division. This segment derives revenue principally from (i) marketing CALVIN KLEIN branded apparel and related products at wholesale principally in Europe, Asia, Brazil and, since May 31, 2019, Australia, primarily to department and specialty stores, and digital commerce sites operated by department store customers and pure play digital commerce retailers, as well as through distributors and franchisees; (ii) operating retail stores, concession locations and digital commerce sites in Europe, Asia, Brazil and since May 31, 2019, Australia, which sell CALVIN KLEIN branded apparel, accessories and related products; and (iii) licensing and similar arrangements relating to the use by third parties of the CALVIN KLEIN brand names for a broad array of product categories outside of North America. This segment also includes the Company’s proportionate share of the net income or loss of its unconsolidated Calvin Klein foreign affiliate in India. This segment included the Company’s proportionate share of the net income or loss of its investment in PVH Australia relating to its Calvin Klein business until May 31, 2019, on which date the Company completed the Australia acquisition and began to consolidate the operations of PVH Australia into its financial statements. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

Heritage Brands Wholesale Segment - This segment consists of the Company’s Heritage Brands Wholesale division. This segment derives revenue primarily from the marketing to department, chain and specialty stores, warehouse clubs, and mass market, off-price and independent retailers (in stores and online), as well as pure play digital commerce retailers in North America of (i) men’s dress shirts and neckwear under various owned and licensed brand names, including several private label brands; (ii) men’s sportswear principally under the brand names Van Heusen, IZOD, and ARROW; (iii) women’s intimate apparel under the Warner’s, Olga and True&Co. brands; and (iv) men’s, women’s and children’s swimwear, pool and deck footwear, and swim-related products and accessories under the Speedo trademark until April 6, 2020 when the Company completed the sale of its Speedo North America business to Pentland. Please see Note 4, “Acquisitions and Divestitures,” for further discussion. This segment also derives revenue from Company operated digital commerce sites in the United States for True&Co., Van Heusen, IZOD and until April 6, 2020, Speedo. In addition, since May 31, 2019, this segment derives revenue from the Heritage Brands business in Australia. As well, this segment includes the Company’s proportionate share of the net income or loss of its investment in its unconsolidated foreign affiliate in Mexico relating to the affiliate’s Heritage Brands business and, since December 2019, the Company’s proportionate share of the net income or loss of its investment in its unconsolidated PVH Legwear affiliate relating to the affiliate’s Heritage Brands business. This segment included the Company’s proportionate share of the net income or loss of its investment in PVH Australia relating to its Heritage Brands business until May 31, 2019, on which date the Company completed the Australia acquisition and began to consolidate the operations of PVH Australia into its financial statements. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

Heritage Brands Retail Segment - This segment consists of the Company’s Heritage Brands Retail division. This segment derives revenue principally from operating retail stores, primarily located in outlet centers throughout the United States and Canada, which primarily sell apparel, accessories and related products. All of the Company’s Heritage Brands stores offer a broad selection of Van Heusen men’s and women’s apparel, along with various of the Company’s dress shirt and neckwear offerings, and IZOD and Warner’s products. The majority of these stores feature multiple brand names on the store signage, with the remaining stores operating under the Van Heusen name. The Company announced in July 2020 its plan to exit its Heritage Brands Retail business by mid-2021. Please see Note 16, “Exit Activity Costs,” for further discussion.

The Company’s revenue by segment was as follows:


	Thirteen Weeks Ended									Twenty-Six Weeks Ended
(In millions)	8/2/20		⁽¹⁾⁽²⁾	8/4/19		⁽¹⁾	8/2/20		⁽¹⁾⁽²⁾	8/4/19		⁽¹⁾
Revenue – Tommy Hilfiger North America
Net sales	$	194.1		$	390.1		$	355.2		$	737.9
Royalty revenue	7.1			18.1			23.9			36.8
Advertising and other revenue	0.8			4.8			4.2			10.1
Total	202.0			413.0			383.3			784.8

Revenue – Tommy Hilfiger International
Net sales	590.2			679.0			1,044.1			1,341.7
Royalty revenue	8.2			12.4			17.0			25.6
Advertising and other revenue	3.3			5.8			5.8			10.2
Total	601.7			697.2			1,066.9			1,377.5

Revenue – Calvin Klein North America
Net sales	180.7			366.1			344.6			744.5
Royalty revenue	13.7			31.5			38.8			64.9
Advertising and other revenue	5.3			11.2			12.4			23.4
Total	199.7			408.8			395.8			832.8

Revenue – Calvin Klein International
Net sales	381.6			440.4			643.9			881.5
Royalty revenue	6.4			17.9			20.6			35.8
Advertising and other revenue	2.8			6.2			6.8			12.8
Total	390.8			464.5			671.3			930.1

Revenue – Heritage Brands Wholesale
Net sales	150.5			304.4			345.8			654.7
Royalty revenue	1.4			5.0			4.8			10.1
Advertising and other revenue	0.2			1.2			1.0			2.2
Total	152.1			310.6			351.6			667.0

Revenue – Heritage Brands Retail
Net sales	34.1			69.0			54.8			126.0
Royalty revenue	0.2			0.9			0.9			2.0
Advertising and other revenue	0.1			0.2			0.1			0.3
Total	34.4			70.1			55.8			128.3

Total Revenue
Net sales	1,531.2			2,249.0			2,788.4			4,486.3
Royalty revenue	37.0			85.8			106.0			175.2
Advertising and other revenue	12.5			29.4			30.3			59.0
Total	$	1,580.7		$	2,364.2		$	2,924.7		$	4,720.5

⁽¹⁾Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.

⁽²⁾Revenue was significantly negatively impacted by the COVID-19 pandemic, including as a result of temporary store closures and reduced traffic and consumer spending trends. The Company’s wholesale customers and licensing partners also experienced significant business disruptions as a result of the pandemic, resulting in a decrease in the Company’s revenue from these channels.

The Company’s revenue by distribution channel was as follows:


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19		8/2/20		8/4/19
Wholesale net sales	$	685.6	$	1,137.8	$	1,493.8	$	2,498.5
Retail net sales	845.6		1,111.2		1,294.6		1,987.8
Net sales	1,531.2		2,249.0		2,788.4		4,486.3

Royalty revenue	37.0		85.8		106.0		175.2
Advertising and other revenue	12.5		29.4		30.3		59.0
Total	$	1,580.7	$	2,364.2	$	2,924.7	$	4,720.5

The Company’s (loss) income before interest and taxes by segment was as follows:


	Thirteen Weeks Ended									Twenty-Six Weeks Ended
(In millions)	8/2/20		⁽¹⁾⁽²⁾	8/4/19		⁽¹⁾	8/2/20		⁽¹⁾⁽²⁾	8/4/19		⁽¹⁾
(Loss) Income before interest and taxes – Tommy Hilfiger North America	$	(32.2)	⁽⁴⁾	$	48.3	⁽¹⁰⁾	$	(82.2)	⁽⁴⁾⁽⁶⁾	$	33.6	^(10)(15)

Income before interest and taxes – Tommy Hilfiger International	83.0			99.8		⁽¹¹⁾	44.2		⁽⁶⁾	206.6		⁽¹¹⁾

(Loss) Income before interest and taxes – Calvin Klein North America	(21.6)		⁽⁴⁾	11.3		^(10)(13)	(349.4)		^(4)(6)(7)	12.7		^(10)(14)

Income (Loss) before interest and taxes – Calvin Klein International	45.0			6.6		^(10)(11)(13)	(388.8)		⁽⁶⁾⁽⁷⁾	53.5		^(10)(11)(14)

(Loss) Income before interest and taxes – Heritage Brands Wholesale	(6.7)		⁽⁴⁾	14.0		⁽¹¹⁾	(294.6)		^(4)(7)(8)	53.0		⁽¹¹⁾

(Loss) Income before interest and taxes – Heritage Brands Retail	(25.4)		⁽⁵⁾	3.1			(48.4)		⁽⁵⁾⁽⁶⁾	4.1

(Loss) Income before interest and taxes – Corporate ⁽³⁾	(43.8)		⁽⁴⁾	66.7		^(11)(12)	(100.9)		⁽⁴⁾⁽⁹⁾	21.4		^(11)(12)

(Loss) Income before interest and taxes	$	(1.7)		$	249.8		$	(1,220.1)		$	384.9

⁽¹⁾(Loss) Income before interest and taxes was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.

⁽²⁾ (Loss) Income before interest and taxes was significantly negatively impacted by the COVID-19 pandemic, including as a result of the unprecedented decline in revenue noted above. As well, (loss) income before interest and taxes for the twenty-six weeks ended August 2, 2020 was significantly adversely impacted by $961.8 million of noncash impairment charges related to goodwill, tradenames, other intangible assets, store assets and an equity method investment resulting from the significant adverse impacts of the COVID-19 on the Company’s business.

⁽³⁾Includes corporate expenses not allocated to any reportable segments and the Company’s proportionate share of the net income or loss of its investments in Gazal (prior to the Australia acquisition closing) and Karl Lagerfeld (prior to its impairment in the first quarter of 2020) and the results of PVH Ethiopia. Please see Note 6, “Investments in Unconsolidated Affiliates,” for further discussion of the Company’s investment in Karl Lagerfeld. Corporate expenses represent overhead operating expenses and include expenses for senior corporate management, corporate finance, information technology related to corporate infrastructure, certain digital investments, certain corporate responsibility initiatives, and actuarial gains and losses on the Company’s Pension Plans, SERP Plans and Postretirement Plans (which are generally recorded in the fourth quarter).

⁽⁴⁾ Loss before interest and taxes for the thirteen and twenty-six weeks ended August 2, 2020 included costs of $38.4 million incurred in connection with the North America workforce reduction, consisting of severance and special termination benefits. Such costs were included in the Company’s segments as follows: $11.2 million in Heritage Brands Wholesale, $10.9 million in Tommy Hilfiger North America, $10.5 million in Calvin Klein North America, and $5.8 million in corporate expenses not allocated to any reportable segments. Please see Note 16, “Exit Activity Costs,” for further discussion.

⁽⁵⁾ Loss before interest and taxes for the thirteen and twenty-six weeks ended August 2, 2020 included costs of $12.3 million in connection with the planned exit of the Heritage Brands Retail business, consisting of noncash asset impairments, severance and other costs. Please see Note 16, “Exit Activity Costs,” for further discussion.

⁽⁶⁾ (Loss) Income before interest and taxes for the twenty-six weeks ended August 2, 2020 included noncash impairment charges of $16.0 million related to the Company’s store assets. The $16.0 million of impairment charges were included in the Company’s segments as follows: $4.1 million in Tommy Hilfiger North America, $3.1 million in Tommy Hilfiger International, $3.2 million in Calvin Klein North America, $1.8 million in Calvin Klein International and $3.8 million in Heritage Brands Retail. Please see Note 12, “Fair Value Measurements,” for further discussion.

⁽⁷⁾ Loss before interest and taxes for the twenty-six weeks ended August 2, 2020 included noncash impairment charges of $933.5 million, primarily related to goodwill, tradenames and other intangible assets. The $933.5 million of impairment charges were included in the Company’s segments as follows: $289.9 million in Calvin Klein North America, $394.0 million in Calvin Klein International and $249.6 million in Heritage Brands Wholesale. Please see Note 7, “Goodwill and Other Intangible Assets,” for further discussion.

⁽⁸⁾ Loss before interest and taxes for the twenty-six weeks ended August 2, 2020 included a net noncash loss of $3.1 million in connection with the sale of the Speedo North America business in April 2020. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

⁽⁹⁾ Loss before interest and taxes for the twenty-six weeks ended August 2, 2020 included a noncash impairment charge of $12.3 million related to the Company’s equity method investment in Karl Lagerfeld. Please see Note 6, “Investments in Unconsolidated Affiliates,” for further discussion.

⁽¹⁰⁾ Income before interest and taxes for the thirteen and twenty-six weeks ended August 4, 2019 included costs of $59.8 million in connection with agreements the Company entered into in the second quarter of 2019 to terminate early the licenses for the global Calvin Klein and Tommy Hilfiger North America socks and hosiery businesses in order to consolidate the socks and hosiery business for all Company brands in North America in a newly formed joint venture and to bring in-house the international Calvin Klein socks and hosiery businesses. Such costs were included in the Company’s segments as follows: $7.5 million in Tommy Hilfiger North America, $25.5 million in Calvin Klein North America and $26.8 million in Calvin Klein International.

⁽¹¹⁾ Income before interest and taxes for the thirteen and twenty-six weeks ended August 4, 2019 included costs of $4.8 million in connection with the Australia and TH CSAP acquisitions, primarily consisting of noncash valuation adjustments, and one-time costs of $2.1 million recorded on the Company’s equity investments in Gazal and PVH Australia prior to the Australia acquisition closing. Such costs were included in the Company’s segments as follows: $2.5 million in Tommy Hilfiger International, $1.5 million in Calvin Klein International, $0.4 million in Heritage Brands Wholesale and $2.5 million in corporate expenses not allocated to any reportable segments. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

⁽¹²⁾ Income before interest and taxes for the thirteen and twenty-six weeks ended August 4, 2019 included a noncash gain of $113.1 million to write up the Company’s equity investments in Gazal and PVH Australia to fair value in connection with the Australia acquisition. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

⁽¹³⁾ Income before interest and taxes for the thirteen weeks ended August 4, 2019 included costs of $29.1 million incurred in connection with the Calvin Klein restructuring, primarily consisting of inventory markdowns and contract termination and other costs. Such costs were included in the Company’s segments as follows: $14.2 million in Calvin Klein North America and $14.9 million in Calvin Klein International.

⁽¹⁴⁾ Income before interest and taxes for the twenty-six weeks ended August 4, 2019 included costs of $99.4 million incurred in connection with the Calvin Klein restructuring, primarily consisting of lease asset impairments and severance. Such costs

were included in the Company’s segments as follows: $65.1 million in Calvin Klein North America and $34.3 million in Calvin Klein International. Please see Note 12, “Fair Value Measurements,” for further discussion of the lease asset impairments.

⁽¹⁵⁾ Income before interest and taxes for the twenty-six weeks ended August 4, 2019 included costs of $54.9 million incurred in connection with the TH U.S. store closures, primarily consisting of noncash lease asset impairments. Please see Note 12, “Fair Value Measurements,” for further discussion.

Intersegment transactions primarily consist of transfers of inventory principally from the Heritage Brands Wholesale segment to the Heritage Brands Retail segment, the Tommy Hilfiger North America segment and the Calvin Klein North America segment. These transfers are recorded at cost plus a standard markup percentage. Such markup percentage on ending inventory is eliminated principally in the Heritage Brands Retail segment, the Tommy Hilfiger North America segment and the Calvin Klein North America segment.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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GUARANTEES	6 Months Ended
GUARANTEES	Aug. 02, 2020
Guarantees [Abstract]
GUARANTEES	GUARANTEES The Company has guaranteed a portion of the debt of its joint ventures in India. The maximum amount guaranteed as of August 2, 2020 was approximately $18.6 million based on exchange rates in effect on that date. The guarantees are in effect for the entire terms of the respective debt. The liability for these guarantee obligations was immaterial as of August 2, 2020, February 2, 2020 and August 4, 2019. The Company has guaranteed to a financial institution the repayment of store security deposits in Japan paid to landlords on behalf of the Company. The amount guaranteed as of August 2, 2020 was approximately $5.5 million based on exchange rates in effect on that date. The Company has the right to seek recourse from the landlords for the full amount. The guarantees expire between 2022 and 2025. The liability for these guarantee obligations was immaterial as of August 2, 2020, February 2, 2020 and August 4, 2019. The Company has guaranteed the payment of amounts on behalf of certain other parties, none of which are material individually or in the aggregate.

RECENT ACCOUNTING GUIDANCE	6 Months Ended
RECENT ACCOUNTING GUIDANCE	Aug. 02, 2020
Notes to Financial Statements [Abstract]
RECENT ACCOUNTING GUIDANCE	RECENT ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance The FASB issued in June 2016 an update to accounting guidance that introduces a new impairment model used to measure credit losses for certain financial assets measured at amortized cost, including trade and other receivables. This update requires entities to record an allowance for credit losses using a forward-looking expected loss impairment model that considers historical experience, current conditions, and reasonable and supportable forecasts that affect collectibility, rather than the incurred loss model required under existing guidance. The Company adopted the update in the first quarter of 2020 using a modified retrospective approach, resulting in a cumulative-effect adjustment to decrease opening retained earnings by $1.0 million with an offsetting decrease to other assets. Otherwise, the adoption of the standard did not have a material impact on the Company’s consolidated financial statements. The FASB issued in January 2017 an update to accounting guidance to simplify the test for goodwill impairment. The update eliminates the requirement to calculate the implied fair value of goodwill to measure the amount of the goodwill impairment charge, if any, under the second step of the goodwill impairment test. Under the update, the goodwill impairment charge would be measured as the amount by which a reporting unit’s carrying amount exceeds its fair value. The impairment charge recognized, if any, should not exceed the total amount of goodwill allocated to that reporting unit. The Company adopted the update in the first quarter of 2020 using a prospective approach and performed its interim goodwill impairment assessment in the first quarter of 2020 in accordance with the updated guidance. Please see Note 7, “Goodwill and Other Intangible Assets,” for further discussion. Accounting Guidance Issued But Not Adopted as of August 2, 2020 The FASB issued in December 2019 an update to accounting guidance to simplify the accounting for income taxes by eliminating certain exceptions to the existing guidance and clarifying and amending certain guidance to reduce diversity in practice. The update eliminates certain exceptions to the guidance related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The update also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The update will be effective for the Company in the first quarter of 2021, with early adoption permitted. Most amendments in the update are required to be adopted using a prospective approach, while other amendments must be adopted using a modified retrospective approach or retrospective approach. The Company is currently evaluating the update to determine the impact of the adoption on the Company’s consolidated financial statements. The FASB issued in March 2020 an update to provide temporary optional guidance intended to ease the potential burden of accounting for reference rate reform. The amendments in the update provide optional expedients and exceptions for applying accounting principles generally accepted in the United States to contract modifications, hedging relationships and other transactions affected by the expected market transition from LIBOR and other interbank offered rates to alternative reference rates if certain criteria are met. The amendments were effective upon issuance and can be applied on a prospective basis through December 31, 2022. The Company is currently evaluating the update to determine the impact of the adoption on the Company’s consolidated financial statements.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Deferred Revenue Disclosure [Text Block]

OTHER COMMENTS	6 Months Ended
OTHER COMMENTS	Aug. 02, 2020
Other Comments [Abstract]
OTHER COMMENTS	OTHER COMMENTS Wuxi Jinmao Foreign Trade Co., Ltd. (“Wuxi”), one of the Company’s finished goods inventory suppliers, has a wholly owned subsidiary with which the Company entered into a loan agreement in 2016. Under the agreement, Wuxi’s subsidiary borrowed a principal amount of $13.8 million for the development and operation of a fabric mill. Principal payments are due in semi-annual installments beginning March 31, 2018 through September 30, 2026. The outstanding principal balance of the loan bears interest at a rate of (i) 4.50% per annum until the sixth anniversary of the closing date of the loan and (ii) LIBOR plus 4.00% thereafter. The Company received principal payments of $0.4 million and $0.2 million during the twenty-six weeks ended August 2, 2020 and August 4, 2019, respectively. The outstanding balance, including accrued interest, was $13.0 million, $13.4 million and $13.6 million as of August 2, 2020, February 2, 2020 and August 4, 2019, respectively, and was included in other assets (current and non-current) in the Company’s Consolidated Balance Sheets. The Company records warehousing and distribution expenses, which are subject to exchange rate fluctuations, as a component of SG&A expenses in its Consolidated Statements of Operations. Warehousing and distribution expenses incurred in the thirteen and twenty-six weeks ended August 2, 2020 totaled $78.5 million and $158.1 million, respectively, and included costs of $6.8 million in the twenty-six weeks ended August 2, 2020 related to the consolidation within the Company’s warehouse and distribution network in North America. Warehousing and distribution expenses incurred in the thirteen and twenty-six weeks ended August 4, 2019 totaled $82.2 million and $159.3 million, respectively. The Company is exposed to credit losses primarily through trade receivables from its customers and licensees. The Company records an allowance for credit losses as a reduction to its trade receivables for amounts that the Company does not expect to recover. The allowance for credit losses is determined through an analysis of the aging of accounts receivable and assessments of collectibility based on historical trends, the financial condition of the Company’s customers and licensees, including any known or anticipated bankruptcies, and an evaluation of current economic conditions as well as the Company’s expectations of conditions in the future. The Company writes off uncollectible trade receivables once collection efforts have been exhausted and third parties confirm the balance is not recoverable. As of August 2, 2020 and February 2, 2020, the allowance for credit losses on trade receivables was $76.9 million and $21.1 million, respectively. The $55.8 million increase in the allowance was primarily due to the evaluation of certain customer and licensee account balances in connection with changes in their financial condition and/or developments regarding their credit, including the adverse impacts of the COVID-19 pandemic

GENERAL (Policies)	6 Months Ended
GENERAL (Policies)	Aug. 02, 2020
General [Abstract]
Consolidation, Policy	The consolidated financial statements include the accounts of the Company. Intercompany accounts and transactions have been eliminated in consolidation. Investments in entities that the Company does not control but has the ability to exercise significant influence over are accounted for using the equity method of accounting. The Company’s Consolidated Statements of Operations include its proportionate share of the net income or loss of these entities. Please see Note 6, “Investments in Unconsolidated Affiliates,” for further discussion. The Company and Arvind Limited (“Arvind”) have a joint venture in Ethiopia, PVH Arvind Manufacturing Private Limited Company (“PVH Ethiopia”), in which the Company owns a 75% interest. PVH Ethiopia is consolidated and the minority shareholder’s proportionate share (25%) of the equity in this joint venture is accounted for as a redeemable non-controlling interest. Please see Note 5, “Redeemable Non-Controlling Interest,” for further discussion.
Fiscal Period	The Company’s fiscal years are based on the 52-53 week periods ending on the Sunday closest to February 1 and are designated by the calendar year in which the fiscal year commences.

REVENUE Deferred Revenue (Tables)

6 Months Ended

Aug. 02, 2020

Deferred Revenue [Abstract]

Changes in deferred revenue, which primarily relate to customer loyalty programs, gift cards and license agreements for the twenty-six weeks ended August 2, 2020 and August 4, 2019 were as follows:


(In millions)	Twenty-Six Weeks Ended
	8/2/20		8/4/19
Deferred revenue balance at beginning of period	$	64.7	$	65.3

Net additions to deferred revenue during the period	35.3		63.4
Reductions in deferred revenue for revenue recognized during the period ⁽¹⁾	(50.4)		(59.8)
Deferred revenue balance at end of period	$	49.6	$	68.9

ACQUISITIONS and DIVESTITURES (Tables)

6 Months Ended

12 Months Ended

Aug. 02, 2020

Feb. 02, 2020

Acquisition Consideration [Table Text Block]

The acquisition date fair value of the business acquired was $324.6 million, consisting of:


(In millions)
Cash consideration	$	124.7
Fair value of the Company’s investment in PVH Australia	131.4
Fair value of the Company’s investment in Gazal	40.1
Fair value of mandatorily redeemable non-controlling interest	26.2
Elimination of pre-acquisition receivable owed to the Company	2.2
Total acquisition date fair value of the business acquired	$	324.6

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:


(In millions)
Cash and cash equivalents	$	6.6
Trade receivables	15.1
Inventories	89.9
Prepaid expenses	1.3
Other current assets	3.5
Assets held for sale	58.8
Property, plant and equipment	18.4
Goodwill	65.9
Intangible assets	222.2
Operating lease right-of-use assets	56.4
Total assets acquired	538.1
Accounts payable	14.4
Accrued expenses	22.5
Short-term borrowings	50.5
Current portion of operating lease liabilities	10.9
Long-term portion of operating lease liabilities	43.9
Deferred tax liability	69.6
Other liabilities	1.7
Total liabilities assumed	213.5
Total acquisition date fair value of the business acquired	$	324.6

Schedule of Assets Held for Sale [Table Text Block]


(In millions)
Assets held for sale:
Trade receivables	$	48.8
Inventories, net	54.3
Prepaid expenses	0.6
Other current assets	0.6
Property, plant and equipment, net	6.1
Operating lease right-of-use assets	9.0
Goodwill	48.1
Other intangibles, net ⁽¹⁾	95.3
Allowance for reduction of assets held for sale	(25.6)
Total assets held for sale	$	237.2

Liabilities related to assets held for sale:
Accounts payable	$	38.7
Accrued expenses	5.4
Current portion of operating lease liabilities	0.6
Long-term portion of operating lease liabilities	10.6
Other liabilities	1.8
Total liabilities related to assets held for sale	$	57.1

⁽¹⁾ Other intangibles, net includes a perpetual license right of $87.4 million and customer relationships of $7.9 million.

GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL (Tables)

6 Months Ended

Aug. 02, 2020

Goodwill [Abstract]

Schedule of Goodwill [Table Text Block]


(In millions)	Calvin Klein North America		Calvin Klein International		Tommy Hilfiger North America		Tommy Hilfiger International		Heritage Brands Wholesale		Heritage Brands Retail		Total
Balance as of February 2, 2020
Goodwill, gross	$	780.4	$	896.1	$	204.4	$	1,598.3	$	198.4	$	11.9	$	3,689.5
Accumulated impairment losses	—		—		—		—		—		(11.9)		(11.9)
Goodwill, net	780.4		896.1		204.4		1,598.3		198.4		—		3,677.6
Impairment	(287.3)		(394.0)		—		—		(197.7)		—		(879.0)

Currency translation and other	1.3		(3.7)		(1.4)		91.3		(0.7)				86.8
Balance as of August 2, 2020
Goodwill, gross	781.7		892.4		203.0		1,689.6		197.7		11.9		3,776.3
Accumulated impairment losses	(287.3)		(394.0)		—		—		(197.7)		(11.9)		(890.9)
Goodwill, net	$	494.4	$	498.4	$	203.0	$	1,689.6	$	—	$	—	$	2,885.4

RETIREMENT AND BENEFIT PLANS (Tables)

6 Months Ended

Aug. 02, 2020

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

The components of net benefit cost recognized were as follows:


	Pension Plans						Pension Plans
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19		8/2/20		8/4/19

Service cost	$	11.3	$	8.5	$	22.4	$	16.7
Interest cost	6.4		7.1		12.8		14.0
Expected return on plan assets	(10.9)		(10.1)		(21.8)		(20.2)
Special termination benefits	1.1		—		1.1		—
Speedo deconsolidation gain	—		—		(2.2)		—



Total	$	7.9	$	5.5	$	12.3	$	10.5


	SERP Plans						SERP Plans
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19		8/2/20		8/4/19

Service cost	$	1.1	$	1.4	$	3.0	$	2.9
Interest cost	0.8		1.1		1.7		2.1

Special termination benefits	1.9		—		1.9		—
Speedo deconsolidation gain	—		—		(0.6)		—



Total	$	3.8	$	2.5	$	6.0	$	5.0

DEBT (Tables)

6 Months Ended

Aug. 02, 2020

Schedule of Interest Rate Swap Agreements [Line Items]

Schedule of Interest Rate Swap Agreements [Table Text Block]


(In millions)
Designation Date	Commencement Date	Initial Notional Amount		Notional Amount Outstanding as of August 2, 2020		Fixed Rate	Expiration Date
March 2020	February 2021	$	50.0	$	—	0.562%	February 2023
February 2020	February 2021	50.0		—		1.1625%	February 2023
February 2020	February 2020	50.0		50.0		1.2575%	February 2023
August 2019	February 2020	50.0		50.0		1.1975%	February 2022
June 2019	February 2020	50.0		50.0		1.409%	February 2022
June 2019	June 2019	50.0		50.0		1.719%	July 2021
January 2019	February 2020	50.0		50.0		2.4187%	February 2021
November 2018	February 2019	139.2		126.6		2.8645%	February 2021
October 2018	February 2019	115.7		159.8		2.9975%	February 2021
June 2018	August 2018	50.0		50.0		2.6825%	February 2021
June 2017	February 2018	306.5		—		1.566%	February 2020

Schedule of Long-term Debt Instruments [Table Text Block]

Long-Term Debt

The carrying amounts of the Company’s long-term debt were as follows:


(In millions)	8/2/20			2/2/20			8/4/19

Senior unsecured Term Loan A facilities due 2024 ⁽¹⁾⁽²⁾	$	1,601.0		$	1,569.5		$	1,642.0

7 3/4% debentures due 2023	99.7			99.7			99.6
3 5/8% senior unsecured euro notes due 2024 ⁽²⁾	615.2		(3)(4)	382.9		(3)	384.3		(3)
4 5/8% senior unsecured notes due 2025	493.9			—			—
3 1/8% senior unsecured euro notes due 2027 ⁽²⁾	703.3			655.6			658.3
Total	3,513.1			2,707.7			2,784.2
Less: Current portion of long-term debt	14.8			13.8			41.2
Long-term debt	$	3,498.3		$	2,693.9		$	2,743.0

⁽³⁾ Includes €350.0 million principal amount of 3 5/8% senior unsecured euro notes due 2024 that were issued on June 20, 2016.

⁽⁴⁾ Includes an additional €175.0 million principal amount of 3 5/8% senior unsecured euro notes due 2024 that were issued on April 24, 2020.

Schedule of Mandatory Long-Term Debt Repayments [Table]

As of August 2, 2020, the Company’s mandatory long-term debt repayments for the remainder of 2020 through 2025 were as follows:


(In millions)
Fiscal Year	Amount ⁽¹⁾
Remainder of 2020	$	7.4
2021	40.5
2022	105.4
2023	226.4
2024	1,949.5
2025	500.0

⁽¹⁾ A portion of the Company’s mandatory long-term debt repayments are denominated in euros and subject to changes in the exchange rate of the United States dollar against the euro.

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Derivative Financial Instruments [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Aug. 02, 2020

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table summarizes the fair value and presentation of the Company’s derivative financial instruments in its Consolidated Balance Sheets:


(In millions)	Assets																							Liabilities
	8/2/20						2/2/20						8/4/19					8/2/20						2/2/20		8/4/19
	Other Current Assets		Other Assets		Other Current Assets		Other Assets		Other Current Assets		Other Assets			Accrued Expenses		Other Liabilities		Accrued Expenses		Other Liabilities		Accrued Expenses		Other Liabilities
Contracts designated as cash flow hedges:
Foreign currency forward exchange contracts (inventory purchases)	$	3.0	$	—	$	21.4	$	0.4	$	36.0	$	0.7		$	23.4	$	0.2	$	1.2	$	0.1	$	1.6	$	0.1
Interest rate swap agreements	—		—		0.1		—		0.3		—			8.3		2.9		5.5		0.4		4.1		2.9
Total contracts designated as cash flow hedges	3.0		—		21.5		0.4		36.3		0.7			31.7		3.1		6.7		0.5		5.7		3.0
Undesignated contracts:
Foreign currency forward exchange contracts	2.8		—		1.5		—		3.8		—			6.4		—		0.9		—		2.2		—


Total	$	5.8	$	—	$	23.0	$	0.4	$	40.1	$	0.7		$	38.1	$	3.1	$	7.6	$	0.5	$	7.9	$	3.0

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The following tables summarize the effect of the Company’s hedges designated as cash flow and net investment hedging instruments:


	(Loss) Gain Recognized in Other Comprehensive Income (Loss)

(In millions)

Thirteen Weeks Ended	8/2/20		8/4/19
Foreign currency forward exchange contracts (inventory purchases)	$	(57.9)	$	12.4
Interest rate swap agreements	(0.6)		(4.0)
Foreign currency borrowings (net investment hedges)	(108.1)		4.6
Total	$	(166.6)	$	13.0

Twenty-Six Weeks Ended	8/2/20		8/4/19
Foreign currency forward exchange contracts (inventory purchases)	$	(36.1)	$	42.5
Interest rate swap agreements	(10.0)		(5.1)
Foreign currency borrowings (net investment hedges)	(92.9)		34.2
Total	$	(139.0)	$	71.6


	Amount of Gain (Loss) Reclassified from AOCL into Income (Expense), Consolidated Statements of Operations Location, and Total Amount of Consolidated Statements of Operations Line Item
(In millions)	Amount Reclassified					Location		Total Statements of Operations Amount

Thirteen Weeks Ended	8/2/20		8/4/19			8/2/20		8/4/19
Foreign currency forward exchange contracts (inventory purchases)	$	0.9	$	10.7	Cost of goods sold	$	697.4	$	1,075.8
Interest rate swap agreements	(2.9)		0.0		Interest expense	32.7		28.3
Total	$	(2.0)	$	10.7

Twenty-Six Weeks Ended	8/2/20		8/4/19			8/2/20		8/4/19
Foreign currency forward exchange contracts (inventory purchases)	$	3.1	$	25.7	Cost of goods sold	$	1,375.5	$	2,136.2
Interest rate swap agreements	(4.6)		0.2		Interest expense	55.2		59.3

Total	$	(1.5)	$	25.9

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The following table summarizes the effect of the Company’s undesignated contracts recognized in SG&A expenses in its Consolidated Statements of Operations:


(In millions)	(Loss) Gain Recognized in (Expense) Income
Thirteen Weeks Ended	8/2/20		8/4/19

Foreign currency forward exchange contracts	$	(4.7)	$	0.8

Twenty-Six Weeks Ended	8/2/20		8/4/19
Foreign currency forward exchange contracts	$	(4.1)	$	0.7

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Aug. 02, 2020

Fair Value Measurements [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]


	8/2/20										2/2/20								8/4/19
(In millions)	Level 1	Level 2		Level 3	Total		Level 1	Level 2		Level 3	Total		Level 1	Level 2		Level 3	Total
Assets:
Foreign currency forward exchange contracts	N/A	$	5.8	N/A	$	5.8	N/A	$	23.3	N/A	$	23.3	N/A	$	40.5	N/A	$	40.5
Interest rate swap agreements	N/A	—		N/A	—		N/A	0.1		N/A	0.1		N/A	0.3		N/A	0.3
Total Assets	N/A	$	5.8	N/A	$	5.8	N/A	$	23.4	N/A	$	23.4	N/A	$	40.8	N/A	$	40.8

Liabilities:
Foreign currency forward exchange contracts	N/A	$	30.0	N/A	$	30.0	N/A	$	2.2	N/A	$	2.2	N/A	$	3.9	N/A	$	3.9
Interest rate swap agreements	N/A	11.2		N/A	11.2		N/A	5.9		N/A	5.9		N/A	7.0		N/A	7.0


Total Liabilities	N/A	$	41.2	N/A	$	41.2	N/A	$	8.1	N/A	$	8.1	N/A	$	10.9	N/A	$	10.9

Fair Value Measurements, Nonrecurring [Table Text Block]



(In millions)	Fair Value Measurement Using								Fair Value As Of Impairment Date	Total Impairments
8/2/20	Level 1	Level 2	Level 3

Property, plant and equipment, net	N/A	N/A	$	1.1	$	1.1	$	23.2
Goodwill	N/A	N/A	652.6		652.6		879.0
Tradenames	N/A	N/A	48.7		48.7		47.2
Other intangible assets, net	N/A	N/A	—		—		7.3
Investments in unconsolidated affiliates	N/A	N/A	—		—		12.3

8/4/19
Operating lease right-of-use assets	N/A	N/A	16.8		16.8		77.0
Property, plant and equipment, net	N/A	N/A	—		—		10.8

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying amounts and the fair values of the Company’s cash and cash equivalents, short-term borrowings and long-term debt were as follows:


	8/2/20						2/2/20						8/4/19
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value

Cash and cash equivalents	$	1,394.3	$	1,394.3	$	503.4	$	503.4	$	433.5	$	433.5
Short-term borrowings	70.6		70.6		49.6		49.6		183.2		183.2

Long-term debt (including portion classified as current)	3,513.1		3,552.3		2,707.7		2,869.7		2,784.2		2,949.6

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Aug. 02, 2020

Share-based Payment Arrangement [Abstract]

Table Of Weighted Average Black Scholes Fair Value Assumptions [Table Text Block]


	8/2/20			8/4/19
Weighted average risk-free interest rate	0.53		%	2.15		%
Weighted average expected stock option term (in years)	6.25			6.25
Weighted average Company volatility	44.80		%	29.88		%
Expected annual dividends per share	$	0.15		$	0.15
Weighted average grant date fair value per stock option	$	20.20		$	37.14

Share-based Payment Arrangement, Option, Activity [Table Text Block]

Stock option activity for the twenty-six weeks ended August 2, 2020 was as follows:


(In thousands, except per stock option data)	Stock Options	Weighted Average Exercise Price Per Stock Option
Outstanding at February 2, 2020	902	$	109.25
Granted	167	48.07
Exercised	—	—
Cancelled	22	74.50
Outstanding at August 2, 2020	1,047	$	100.23
Exercisable at August 2, 2020	699	$	108.03

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

RSU activity for the twenty-six weeks ended August 2, 2020 was as follows:


(In thousands, except per RSU data)	RSUs	Weighted Average Grant Date Fair Value Per RSU
Non-vested at February 2, 2020	996	$	117.28
Granted	464	47.76
Vested	328	115.35
Cancelled	68	108.19
Non-vested at August 2, 2020	1,064	$	88.11

Table of Weighted Average Monte Carlo Fair Value Assumptions Performance Awards [Table Text Block]

The fair value of the awards granted was established for each grant on the grant date using the Monte Carlo simulation model.


	8/2/20			8/4/19
Risk-free interest rate	0.20		%	2.13		%
Expected Company volatility	48.91		%	30.25		%
Expected annual dividends per share	$	0.15		$	0.15
Weighted average grant date fair value per PSU	$	58.83		$	119.46

Schedule of Nonvested Performance-based Units Activity [Table Text Block]

PSU activity for the twenty-six weeks ended August 2, 2020 was as follows:


(In thousands, except per PSU data)	PSUs	Weighted Average Grant Date Fair Value Per PSU
Non-vested at February 2, 2020	181	$	119.63
Granted at target	75	58.83
Reduction due to market condition not satisfied	70	96.47
Vested	—	—
Cancelled	—	—
Non-vested at August 2, 2020	186	$	103.94

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

6 Months Ended

Aug. 02, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Loss [Table Text Block]

The following tables present the changes in AOCL, net of related taxes, by component for the twenty-six weeks ended August 2, 2020 and August 4, 2019:


(In millions)	Foreign currency translation adjustments			Net unrealized and realized gain (loss) on effective cash flow hedges		Total
Balance, February 2, 2020	$	(665.7)		$	25.6	$	(640.1)
Other comprehensive income (loss) before reclassifications	60.5		⁽¹⁾⁽²⁾	(43.6)		16.9
Less: Amounts reclassified from AOCL	—			(0.6)		(0.6)
Other comprehensive income (loss)	60.5			(43.0)		17.5
Balance, August 2, 2020	$	(605.2)		$	(17.4)	$	(622.6)


(In millions)	Foreign currency translation adjustments			Net unrealized and realized gain on effective cash flow hedges		Total
Balance, February 3, 2019	$	(537.6)		$	29.7	$	(507.9)
Other comprehensive (loss) income before reclassifications	(116.4)		⁽¹⁾⁽³⁾	37.3		(79.1)
Less: Amounts reclassified from AOCL	—			24.4		24.4
Other comprehensive (loss) income	(116.4)			12.9		(103.5)
Balance, August 4, 2019	$	(654.0)		$	42.6	$	(611.4)

⁽²⁾Favorable foreign currency translation adjustments were principally driven by a weakening of the United States dollar against the euro.

(3) Unfavorable foreign currency translation adjustments were principally driven by a strengthening of the United States dollar against the euro.

Schedule of Amounts Reclassified Out of Accumulated Other Comprehensive Loss [Table Text Block]

The following table presents reclassifications from AOCL to earnings for the thirteen and twenty-six weeks ended August 2, 2020 and August 4, 2019:


	Amount Reclassified from AOCL									Affected Line Item in the Company’s Consolidated Statements of Operations
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19		8/2/20		8/4/19
Realized gain (loss) on effective cash flow hedges:
Foreign currency forward exchange contracts (inventory purchases)	$	0.9	$	10.7	$	3.1	$	25.7	Cost of goods sold
Interest rate swap agreements	(2.9)		0.0		(4.6)		0.2		Interest expense
Less: Tax effect	(0.7)		0.6		(0.9)		1.5		Income tax expense (benefit)
Total, net of tax	$	(1.3)	$	10.1	$	(0.6)	$	24.4

EXIT ACTIVITY COSTS (Tables)

6 Months Ended

Aug. 02, 2020

Heritage Retail Exit [Member]

Restructuring and Related Costs


(In millions)	Total Costs Expected to be Incurred		Costs Incurred During the Thirteen and Twenty-Six Weeks Ended 8/2/20
Severance, termination benefits and other employee costs	$	17.0	$	3.8
Long-lived asset impairments	7.2		7.2
Accelerated amortization of lease assets	15.8		1.3
Inventory markdowns	10.0		—
Total	$	50.0	$	12.3

Schedule of Restructuring Reserve by Type of Cost

The liabilities at August 2, 2020 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheet and were as follows:


(In millions)	Liability at 2/2/20		Costs Incurred During the Twenty-Six Weeks Ended 8/2/20		Costs Paid During the Twenty-Six Weeks Ended 8/2/20		Liability at 8/2/20
Severance, termination benefits and other employee costs	$	—	$	3.8	$	—	$	3.8

Restructuring and Related Costs


(In millions)	Total Costs Expected to be Incurred		Costs Incurred During the Thirteen and Twenty-Six Weeks Ended 8/2/20
Severance, termination benefits and other employee costs	$	40.0	$	38.4

Schedule of Restructuring Reserve by Type of Cost

The liabilities at August 2, 2020 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheet and were as follows:


(In millions)	Liability at 2/2/20		Costs Incurred During the Twenty-Six Weeks Ended 8/2/20		Costs Paid During the Twenty-Six Weeks Ended 8/2/20		Liability at 8/2/20
Severance, termination benefits and other employee costs⁽¹⁾	$	—	$	35.4	$	—	$	35.4

NET (LOSS) INCOME PER COMMON SHARE (Tables)

6 Months Ended

Aug. 02, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The Company computed its basic and diluted net (loss) income per common share as follows:


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions, except per share data)	8/2/20		8/4/19		8/2/20		8/4/19

Net (loss) income attributable to PVH Corp.	$	(51.4)	$	193.5	$	(1,148.2)	$	275.5

Weighted average common shares outstanding for basic net (loss) income per common share	71.1		74.8		71.2		75.0
Weighted average impact of dilutive securities	—		0.3		—		0.5

Total shares for diluted net (loss) income per common share	71.1		75.1		71.2		75.5

Basic net (loss) income per common share attributable to PVH Corp.	$	(0.72)	$	2.59	$	(16.12)	$	3.67

Diluted net (loss) income per common share attributable to PVH Corp.	$	(0.72)	$	2.58	$	(16.12)	$	3.65

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

Potentially dilutive securities excluded from the calculation of diluted net (loss) income per common share as the effect would be anti-dilutive were as follows:

Thirteen Weeks Ended

Twenty-Six Weeks Ended

(In millions)

8/2/20

8/4/19

8/2/20

8/4/19

Weighted average potentially dilutive securities

2.2

1.3

2.1

0.9

Nonmonetary Transactions (Tables)

6 Months Ended

Aug. 02, 2020

Nonmonetary Transactions [Abstract]

Schedule of Supplemental Cash Flow Information Related to Leases [Table Text Block]

Lease Transactions

Supplemental cash flow information related to leases was as follows:


	Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	180.8	$	234.5
Operating cash flows from finance leases	0.2		0.3
Financing cash flows from finance leases	2.7		2.9
Non-cash transactions:
Right-of-use assets obtained in exchange for new operating lease liabilities	168.9		244.1
Right-of-use assets obtained in exchange for new finance lease liabilities	1.7		1.4

SEGMENT DATA (Tables)

6 Months Ended

Aug. 02, 2020

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The Company’s revenue by segment was as follows:


	Thirteen Weeks Ended									Twenty-Six Weeks Ended
(In millions)	8/2/20		⁽¹⁾⁽²⁾	8/4/19		⁽¹⁾	8/2/20		⁽¹⁾⁽²⁾	8/4/19		⁽¹⁾
Revenue – Tommy Hilfiger North America
Net sales	$	194.1		$	390.1		$	355.2		$	737.9
Royalty revenue	7.1			18.1			23.9			36.8
Advertising and other revenue	0.8			4.8			4.2			10.1
Total	202.0			413.0			383.3			784.8

Revenue – Tommy Hilfiger International
Net sales	590.2			679.0			1,044.1			1,341.7
Royalty revenue	8.2			12.4			17.0			25.6
Advertising and other revenue	3.3			5.8			5.8			10.2
Total	601.7			697.2			1,066.9			1,377.5

Revenue – Calvin Klein North America
Net sales	180.7			366.1			344.6			744.5
Royalty revenue	13.7			31.5			38.8			64.9
Advertising and other revenue	5.3			11.2			12.4			23.4
Total	199.7			408.8			395.8			832.8

Revenue – Calvin Klein International
Net sales	381.6			440.4			643.9			881.5
Royalty revenue	6.4			17.9			20.6			35.8
Advertising and other revenue	2.8			6.2			6.8			12.8
Total	390.8			464.5			671.3			930.1

Revenue – Heritage Brands Wholesale
Net sales	150.5			304.4			345.8			654.7
Royalty revenue	1.4			5.0			4.8			10.1
Advertising and other revenue	0.2			1.2			1.0			2.2
Total	152.1			310.6			351.6			667.0

Revenue – Heritage Brands Retail
Net sales	34.1			69.0			54.8			126.0
Royalty revenue	0.2			0.9			0.9			2.0
Advertising and other revenue	0.1			0.2			0.1			0.3
Total	34.4			70.1			55.8			128.3

Total Revenue
Net sales	1,531.2			2,249.0			2,788.4			4,486.3
Royalty revenue	37.0			85.8			106.0			175.2
Advertising and other revenue	12.5			29.4			30.3			59.0
Total	$	1,580.7		$	2,364.2		$	2,924.7		$	4,720.5

⁽¹⁾Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.

The Company’s revenue by distribution channel was as follows:


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
(In millions)	8/2/20		8/4/19		8/2/20		8/4/19
Wholesale net sales	$	685.6	$	1,137.8	$	1,493.8	$	2,498.5
Retail net sales	845.6		1,111.2		1,294.6		1,987.8
Net sales	1,531.2		2,249.0		2,788.4		4,486.3

Royalty revenue	37.0		85.8		106.0		175.2
Advertising and other revenue	12.5		29.4		30.3		59.0
Total	$	1,580.7	$	2,364.2	$	2,924.7	$	4,720.5

The Company’s (loss) income before interest and taxes by segment was as follows:


	Thirteen Weeks Ended									Twenty-Six Weeks Ended
(In millions)	8/2/20		⁽¹⁾⁽²⁾	8/4/19		⁽¹⁾	8/2/20		⁽¹⁾⁽²⁾	8/4/19		⁽¹⁾
(Loss) Income before interest and taxes – Tommy Hilfiger North America	$	(32.2)	⁽⁴⁾	$	48.3	⁽¹⁰⁾	$	(82.2)	⁽⁴⁾⁽⁶⁾	$	33.6	^(10)(15)

Income before interest and taxes – Tommy Hilfiger International	83.0			99.8		⁽¹¹⁾	44.2		⁽⁶⁾	206.6		⁽¹¹⁾

(Loss) Income before interest and taxes – Calvin Klein North America	(21.6)		⁽⁴⁾	11.3		^(10)(13)	(349.4)		^(4)(6)(7)	12.7		^(10)(14)

Income (Loss) before interest and taxes – Calvin Klein International	45.0			6.6		^(10)(11)(13)	(388.8)		⁽⁶⁾⁽⁷⁾	53.5		^(10)(11)(14)

(Loss) Income before interest and taxes – Heritage Brands Wholesale	(6.7)		⁽⁴⁾	14.0		⁽¹¹⁾	(294.6)		^(4)(7)(8)	53.0		⁽¹¹⁾

(Loss) Income before interest and taxes – Heritage Brands Retail	(25.4)		⁽⁵⁾	3.1			(48.4)		⁽⁵⁾⁽⁶⁾	4.1

(Loss) Income before interest and taxes – Corporate ⁽³⁾	(43.8)		⁽⁴⁾	66.7		^(11)(12)	(100.9)		⁽⁴⁾⁽⁹⁾	21.4		^(11)(12)

(Loss) Income before interest and taxes	$	(1.7)		$	249.8		$	(1,220.1)		$	384.9

⁽¹⁾(Loss) Income before interest and taxes was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.

GENERAL (Details)
€ in Millions, $ in Millions

3 Months Ended

6 Months Ended

May 03, 2020

USD ($)

Aug. 02, 2020

USD ($)

numberOfPositions

Aug. 04, 2019

USD ($)

Aug. 02, 2020

EUR (€)

Jul. 10, 2020

USD ($)

Apr. 24, 2020

EUR (€)

Apr. 08, 2020

USD ($)

Jun. 20, 2016

EUR (€)

Fiscal Year Minimum Week Period

1 year

Fiscal Year Maximum Weeks Period

1 year 7 days

Impairment of Intangible Assets (Excluding Goodwill)

$ 54.5

^[1]

961.8

Inventory Valuation Reserves

879.0

60.7

Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)

23.2

$ 87.8

$ 55.8

Restructuring and Related Cost, Number of Positions Eliminated, Period Percent

12.00%

Restructuring and Related Cost, Number of Positions Eliminated | numberOfPositions

450

Ethiopia Joint Venture [Member] | 75% [Member]

Non-controlling Interest, Ownership Percentage by Parent

75.00%

Ethiopia Joint Venture [Member] | 25% [Member]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

25.00%

Equity Method Investment, Other than Temporary Impairment

$ 12.3

Senior notes due 2024 [Member]

$ 525.0

€ 525.0

€ 175.0

€ 350.0

3.625%

Senior Notes Due 2025

$ 500.0

Property, Plant and Equipment [Member]

4.625%

Property, Plant and Equipment [Member] | Fair Value, Nonrecurring [Member]

$ 16.0

10.8

Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

23.2

Goodwill [Member] | Fair Value, Nonrecurring [Member]

969.0

$ 87.8

2020 Facility [Member] | United States of America, Dollars

$ 879.0

Line of credit facility, maximum borrowing capacity

$ 275.0

Anticipated cost savings from restructuring activity

$ 80.0

[1]

REVENUE Deferred Revenue (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Aug. 02, 2020

Aug. 04, 2019

Aug. 02, 2020

Aug. 04, 2019

Feb. 02, 2020

Deferred Revenue [Line Items]

Payment terms, due from customer

Payment is typically due within 30 to 90 days.

Long-term deferred revenue liabilities (included in Other Liabilities)

$ 9.0

$ 1.9

$ 9.0

$ 1.9

$ 10.3

Movement in Deferred Revenue [Roll Forward]

Deferred revenue, beginning balance

64.7

65.3

Net additions to deferred revenue during the period

35.3

63.4

Reductions in deferred revenue for revenue recognized during the period

(7.8)

(8.4)

(50.4)

^[1]

(59.8)

^[1]

Deferred revenue, ending balance

$ 49.6

$ 68.9

$ 49.6

$ 68.9

[1]

Represents the amount of revenue recognized during the period that was included in the deferred revenue balance at the beginning of the period and does not contemplate revenue recognized from amounts deferred during the period. These amounts include $7.8 million and $8.4 million of revenue recognized during the thirteen weeks ended August 2, 2020 and August 4, 2019, respectively.

REVENUE Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Details) $ in Millions	Aug. 02, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-08-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 1,100.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-08-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 72.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 741.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

ACQUISITIONS (Details) - USD ($) $ in Millions			3 Months Ended				6 Months Ended
ACQUISITIONS (Details) - USD ($) $ in Millions	Jul. 01, 2019	May 31, 2019	Aug. 02, 2020	May 03, 2020	Aug. 04, 2019	May 05, 2019	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020
Business Acquisition [Line Items]
Payments for Repurchase of Redeemable Noncontrolling Interest							$ 12.7	$ 0.0
Goodwill			$ 2,885.4		$ 3,736.9		2,885.4	3,736.9	$ 3,677.6
Net unrealized and realized (loss) gain related to effective cash flow hedges, tax benefit			5.7	$ (4.1)	1.8	$ (0.4)	1.6	1.4
Tommy Hilfiger International [Member]
Business Acquisition [Line Items]
Goodwill			1,689.6				1,689.6		1,598.3
Calvin Klein North America [Member]
Business Acquisition [Line Items]
Goodwill			494.4				494.4		780.4
Calvin Klein International [Member]
Business Acquisition [Line Items]
Goodwill			498.4				498.4		896.1
Heritage Brands Wholesale [Member]
Business Acquisition [Line Items]
Goodwill			0.0				0.0		198.4
Gazal Corporation Limited [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage		22.00%
PVH Australia Joint Venture [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage		50.00%
TH CSAP Acquisition [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 74.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Assets	10.4
TH CSAP Acquisition [Member] \| Tommy Hilfiger International [Member]
Business Acquisition [Line Items]
Goodwill	$ 63.9
Australia Acquisition [Member]
Business Acquisition [Line Items]
Payments for Repurchase of Redeemable Noncontrolling Interest							17.3
Payments to Acquire Businesses, Gross		$ 124.7
Goodwill		65.9
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain		$ 113.1
Business Ownership Percentage		100.00%
Mandatorily Redeemable Non-Controlling Interest to be Purchased in Tranche 1		50.00%
Tranche 1 Effective Period		one year after the closing
Tranche 2 Effective Period		two years after the closing
Australia Acquisition [Member] \| Financing Cash Flow [Member]
Business Acquisition [Line Items]
Payments for Repurchase of Redeemable Noncontrolling Interest							12.7
Australia Acquisition [Member] \| Operating Cash Flow [Member]
Business Acquisition [Line Items]
Payments for Repurchase of Redeemable Noncontrolling Interest							4.6
Australia Acquisition [Member] \| 6% [Member]
Business Acquisition [Line Items]
Noncontrolling Interest, Ownership Percentage of Company subsidiary by Noncontrolling Owners		6.00%
Australia Acquisition [Member] \| Tommy Hilfiger International [Member]
Business Acquisition [Line Items]
Goodwill		$ 56.8
Australia Acquisition [Member] \| Calvin Klein International [Member]
Business Acquisition [Line Items]
Goodwill		9.1
Australia Acquisition [Member] \| Gazal Corporation Limited [Member]
Business Acquisition [Line Items]
Equity Method Investments Carrying Value Prior to Step Acquisition Remeasurement		16.5
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain		$ 23.6
Business Acquisition, Percentage of Voting Interests Acquired		78.00%
Australia Acquisition [Member] \| PVH Australia Joint Venture [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage		50.00%
Equity Method Investments Carrying Value Prior to Step Acquisition Remeasurement		$ 41.9
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain		89.5
Australia Acquisition [Member] \| Fair Value, Inputs, Level 1 [Member] \| Gazal Corporation Limited [Member]
Business Acquisition [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value		40.1
Australia Acquisition [Member] \| Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Noncontrolling Interest, Change in Redemption Value			4.6				0.9
Redeemable Noncontrolling Interest, Equity, Common, Redemption Value			$ 18.8		25.7		$ 18.8	25.7	33.8
Redeemable Noncontrolling Interest, Equity, Common, Fair Value		26.2
Australia Acquisition [Member] \| Fair Value, Inputs, Level 3 [Member] \| PVH Australia Joint Venture [Member]
Business Acquisition [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value		$ 131.4
Australia Acquisition [Member] \| Accrued Expenses [Member] \| Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Redeemable Noncontrolling Interest, Equity, Common, Redemption Value					12.4			12.4	16.9
Australia Acquisition [Member] \| Other Liabilities [Member] \| Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Redeemable Noncontrolling Interest, Equity, Common, Redemption Value					$ 13.3			$ 13.3	$ 16.9
Measurement Input, Discount Rate [Member] \| Australia Acquisition [Member] \| Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Equity Method Investment, Discount Rate		12.50%

ACQUISITIONS Fair Value of Acquisition Consideration (Details) - Australia Acquisition [Member] - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	May 31, 2019	Aug. 02, 2020	Aug. 02, 2020	Feb. 02, 2020	Aug. 04, 2019
Business Acquisition [Line Items]
Cash consideration	$ 124.7
Elimination of pre-acquisition receivable owed to the Company	2.2
Total acquisition date fair value of business acquired	324.6
Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Noncontrolling Interest, Change in Redemption Value		$ 4.6	$ 0.9
Redeemable Noncontrolling Interest, Equity, Common, Fair Value	26.2
Redeemable Noncontrolling Interest, Equity, Common, Redemption Value		$ 18.8	$ 18.8	$ 33.8	$ 25.7
Fair Value, Inputs, Level 3 [Member] \| PVH Australia Joint Venture [Member]
Business Acquisition [Line Items]
Fair value of the Company's investment in PVH Australia	131.4
Fair Value, Inputs, Level 1 [Member] \| Gazal Corporation Limited [Member]
Business Acquisition [Line Items]
Fair value of the Company's investment in PVH Australia	$ 40.1

ACQUISITIONS Allocation of Acquisition Consideration (Details) - USD ($) $ in Millions		6 Months Ended
	May 31, 2019	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020
Business Acquisition [Line Items]
Goodwill		$ 2,885.4	$ 3,736.9	$ 3,677.6
Proceeds from sale of building		0.0	59.4
Sale Leaseback Transaction, Transaction Costs, Investing Activities			$ 1.0
Calvin Klein International [Member]
Business Acquisition [Line Items]
Goodwill		$ 498.4		$ 896.1
Australia Acquisition [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	$ 6.6
Trade receivables	15.1
Inventories	89.9
Prepaid expenses	1.3
Other current assets	3.5
Assets held for sale	58.8
Property, plant and equipment	18.4
Goodwill	65.9
Intangible assets	222.2
Operating lease right-of-use assets	56.4
Total assets acquired	538.1
Accounts payable	14.4
Accrued expenses	22.5
Short-term borrowings	50.5
Current portion of operating lease liabilities	10.9
Long-term portion of operating lease liabilities	43.9
Deferred tax liability	69.6
Other liabilities	1.7
Total liabilities assumed	213.5
Total acquisition date fair value of the business acquired	324.6
Australia Acquisition [Member] \| Calvin Klein International [Member]
Business Acquisition [Line Items]
Goodwill	9.1
Reacquired license rights \| Australia Acquisition [Member]
Business Acquisition [Line Items]
Intangible assets	$ 204.9
Order backlog \| Australia Acquisition [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	6 months
Intangible assets	$ 0.3
Customer relationships \| Australia Acquisition [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	10 years
Intangible assets	$ 17.0

DIVESTITURES (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

Aug. 02, 2020

May 03, 2020

Aug. 04, 2019

Aug. 02, 2020

Aug. 04, 2019

Feb. 02, 2020

Proceeds from sale of the Speedo North America business

$ 169.1

$ 0.0

Proceeds from sale of the Speedo North America business

Goodwill

$ 48.1

169.1

0.0

^[1]

961.8

$ 0.0

$ (113.1)

3.1

$ (113.1)

Speedo Transaction

Proceeds from sale of the Speedo North America business

170.0

Proceeds from sale of the Speedo North America business

170.0

Impairment of Long-Lived Assets to be Disposed of

142.0

Speedo Transaction | Other noncash loss, net [Member]

$ 3.1

Perpetual License Rights [Member]

Other Noncash Expense

5.9

Other Noncash Income

$ 2.8

116.4

Fair Value, Nonrecurring [Member] | Perpetual License Rights [Member]

Other intangibles, net

7.9

Disposal Group, Held-for-sale, Not Discontinued Operations

87.4

Property, plant and equipment, net

48.8

54.3

0.6

0.6

6.1

Operating lease right-of-use assets

9.0

Other intangibles, net

95.3

Allowance for reduction of assets held for sale

(25.6)

Total assets held for sale

237.2

Accounts payable

38.7

Accrued expenses

5.4

Current portion of operating lease liabilities

0.6

Long-term portion of operating lease liabilities

10.6

Other liabilities

1.8

Total liabilities related to assets held for sale

$ 57.1

[1]

REDEEMABLE NON-CONTROLLING INTEREST (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020	Jun. 29, 2016
Non-controlling Interest [Line Items]
Redeemable Non-Controlling Interest	$ (2.7)	$ (0.6)	$ (2.7)	$ (0.6)	$ (2.0)
Net loss attributable to redeemable non-controlling interest	(0.3)	(0.4)	(0.7)	(0.8)
Ethiopia Joint Venture [Member]
Non-controlling Interest [Line Items]
Redeemable Non-Controlling Interest	$ (2.7)	$ (0.6)	(2.7)	$ (0.6)	$ (2.0)
Redeemable Non-controlling Interest, Equity, Fair Value						$ 0.1
Net loss attributable to redeemable non-controlling interest			$ (0.7)
75% [Member] \| Ethiopia Joint Venture [Member]
Non-controlling Interest [Line Items]
Non-controlling Interest, Ownership Percentage by Parent	75.00%		75.00%

INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Details) - USD ($)
$ in Millions

6 Months Ended

May 31, 2019

Aug. 02, 2020

Aug. 04, 2019

Feb. 02, 2020

Schedule of Equity Method Investments [Line Items]

Dividends received from unconsolidated affiliates

$ 10.0

Investments in Unconsolidated Affiliates

$ 144.1

$ 146.6

$ 176.3

Gazal Corporation Limited [Member]

^[1]

$ 961.8

Schedule of Equity Method Investments [Line Items]

PVH Australia Joint Venture [Member]

22.00%

Schedule of Equity Method Investments [Line Items]

50.00%

Schedule of Equity Method Investments [Line Items]

Equity Method Investment, Other than Temporary Impairment

8.00%

$ 12.3

Karl Lagerfeld [Member] | Measurement Input, Discount Rate [Member] | Fair Value, Inputs, Level 3 [Member]

Schedule of Equity Method Investments [Line Items]

Equity Method Investment, Fair Value Input

10.90%

Australia Acquisition [Member] | Measurement Input, Discount Rate [Member] | Fair Value, Inputs, Level 3 [Member]

Schedule of Equity Method Investments [Line Items]

Equity Method Investment, Discount Rate

12.50%

Australia Acquisition [Member] | PVH Australia Joint Venture [Member]

Schedule of Equity Method Investments [Line Items]

50.00%

[1]

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

May 03, 2020

Aug. 02, 2020

Aug. 04, 2019

Feb. 02, 2020

$ 3,677.6

(879.0)

2,885.4

$ 3,736.9

$ 3,677.6

^[1]

961.8

Impairment of Intangible Assets (Excluding Goodwill)

2,846.6

$ 2,834.5

2,830.2

54.5

Calvin Klein Licensing and Advertising International [Member]

Calvin Klein Licensing and Advertising International [Member] | 100 bps change in annual revenue growth rate [Member]

143.4

Goodwill and Other Intangible Assets [Line Items]

Calvin Klein Licensing and Advertising International [Member] | 100 bps change in weighted average cost of capital [Member]

20.0

Goodwill and Other Intangible Assets [Line Items]

Calvin Klein Wholesale North America [Member]

15.0

Calvin Klein Wholesale North America [Member] | 100 bps change in annual revenue growth rate [Member]

162.3

Goodwill and Other Intangible Assets [Line Items]

Calvin Klein Wholesale North America [Member] | 100 bps change in weighted average cost of capital [Member]

80.0

Goodwill and Other Intangible Assets [Line Items]

60.0

Calvin Klein International [Member] | 100 bps change in annual revenue growth rate [Member]

346.9

Goodwill and Other Intangible Assets [Line Items]

Calvin Klein International [Member] | 100 bps change in weighted average cost of capital [Member]

140.0

Goodwill and Other Intangible Assets [Line Items]

$ 125.0

Goodwill and Other Intangible Assets [Line Items]

Percentage of fair value in excess of carrying amount

5.00%

Carrying value of reporting unit

$ 1,557.5

2,948.5

Tommy Hilfiger International [Member] | 100 bps change in annual revenue growth rate [Member]

Goodwill and Other Intangible Assets [Line Items]

Tommy Hilfiger International [Member] | 100 bps change in weighted average cost of capital [Member]

355.0

Goodwill and Other Intangible Assets [Line Items]

Fair Value, Nonrecurring [Member] | Customer relationships

320.0

Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Customer relationships

7.3

Goodwill [Member] | Fair Value, Nonrecurring [Member]

0.0

(879.0)

652.6

Goodwill [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]

1,531.6

Tradenames [Member] | Fair Value, Nonrecurring [Member]

652.6

48.7

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

95.9

$ 47.2

47.2

Tradenames [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]

Other Intangible Assets | Fair Value, Nonrecurring [Member]

48.7

7.3

Other Intangible Assets | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]

7.3

Goodwill [Member] | Input 1 [Member]

0.0

Discount Rate for Estimated Future Operating Cash Flows

10.00%

Goodwill [Member] | Input 2 [Member]

Discount Rate for Estimated Future Operating Cash Flows

10.50%

Goodwill [Member] | Input 3 [Member]

Discount Rate for Estimated Future Operating Cash Flows

11.00%

Tradenames [Member]

Discount Rate for Estimated Future Operating Cash Flows

10.00%

Other Intangible Assets

Goodwill and Other Intangible Assets [Line Items]

Percentage of fair value in excess of carrying amount

85.00%

ARROW tradename [Member] | 100 bps change in annual revenue growth rate [Member]

Goodwill and Other Intangible Assets [Line Items]

ARROW tradename [Member] | 100 bps change in weighted average cost of capital [Member]

$ 5.0

Goodwill and Other Intangible Assets [Line Items]

ARROW tradename [Member] | Tradenames [Member] | Fair Value, Nonrecurring [Member]

5.0

43.3

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

78.9

35.6

Geoffrey Beene tradename [Member] | Tradenames [Member] | Fair Value, Nonrecurring [Member]

5.4

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

17.0

11.6

Calvin Klein North America [Member]

780.4

0.0

780.4

(287.3)

1.3

781.7

780.4

(287.3)

0.0

Calvin Klein North America [Member] | Fair Value, Nonrecurring [Member] | Customer relationships

494.4

780.4

Calvin Klein North America [Member] | Goodwill [Member] | Fair Value, Nonrecurring [Member]

2.6

(287.3)

896.1

0.0

896.1

(394.0)

(3.7)

892.4

896.1

(394.0)

0.0

Calvin Klein International [Member] | Goodwill [Member] | Fair Value, Nonrecurring [Member]

498.4

896.1

Tommy Hilfiger North America [Member]

(394.0)

204.4

0.0

204.4

0.0

(1.4)

203.0

204.4

0.0

203.0

204.4

1,598.3

0.0

1,598.3

0.0

91.3

1,689.6

1,598.3

0.0

Heritage Brands Wholesale [Member]

1,689.6

1,598.3

198.4

0.0

198.4

(197.7)

(0.7)

197.7

198.4

(197.7)

0.0

Heritage Brands Wholesale [Member] | Fair Value, Nonrecurring [Member] | Customer relationships

0.0

198.4

Heritage Brands Wholesale [Member] | Goodwill [Member] | Fair Value, Nonrecurring [Member]

4.7

Heritage Brands Retail [Member]

(197.7)

11.9

(11.9)

0.0

0.0

11.9

(11.9)

0.0

Operating Segments

3,689.5

(11.9)

$ 3,677.6

3,677.6

(879.0)

86.8

3,776.3

3,689.5

(890.9)

(11.9)

Australia Acquisition [Member] | License Agreements [Member]

$ 2,885.4

$ 3,677.6

Discount Rate for Estimated Future Operating Cash Flows

10.00%

[1]

RETIREMENT AND BENEFIT PLANS (Details) $ in Millions	3 Months Ended		6 Months Ended
RETIREMENT AND BENEFIT PLANS (Details) $ in Millions	Aug. 02, 2020 USD ($)	Aug. 04, 2019 USD ($)	Aug. 02, 2020 USD ($) numberOfPositions	Aug. 04, 2019 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated \| numberOfPositions			450
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent			12.00%
SERP Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of Noncontributory Defined Benefit Pension Plans	3		3
Plan Benefit Payment Activation Age	65		65
Minimum Age Prior to Employment Termination	55		55
Service cost	$ 1.1	$ 1.4	$ 3.0	$ 2.9
Interest cost	0.8	1.1	1.7	2.1
Total	3.8	2.5	$ 6.0	5.0
Plan Benefit Payment Period			10 years
Minimum Number of Years of Employment			10 years
SERP Plans [Member] \| Special Termination Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Special termination benefits	1.9	0.0	$ 1.9	0.0
SERP Plans [Member] \| Speedo Transaction
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Speedo deconsolidation gain	$ 0.0	0.0	$ (0.6)	0.0
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of Noncontributory Defined Benefit Pension Plans	2		2
Pension and SERP Plans [Member] \| Speedo Transaction
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Speedo deconsolidation gain			$ (2.8)
Pension Plans, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of Noncontributory Defined Benefit Pension Plans	5		5
Service cost	$ 11.3	8.5	$ 22.4	16.7
Interest cost	6.4	7.1	12.8	14.0
Expected return on plan assets	(10.9)	(10.1)	(21.8)	(20.2)
Total	7.9	5.5	$ 12.3	10.5
Vesting Period Non-Contributory Defined Benefit Pension Plans			5 years
Pension Plans, Defined Benefit [Member] \| Special Termination Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Special termination benefits	1.1	0.0	$ 1.1	0.0
Pension Plans, Defined Benefit [Member] \| Speedo Transaction
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Speedo deconsolidation gain	$ 0.0	$ 0.0	$ (2.2)	$ 0.0

DEBT Short-Term Lines of Credit, Overdraft Facilities, Senior Secured Credit Facilities and Short-Term Revolving Credit Facilities (Details) - USD ($) $ in Millions			6 Months Ended	14 Months Ended
	Apr. 08, 2020	Apr. 29, 2019	Aug. 02, 2020	Aug. 01, 2021
2019 Facilities [Member]
Line of Credit Facility [Line Items]
Maximum Amount of Commitment Increase		$ 1,500.0
Payments of Debt Issuance Costs		10.4
2019 Facilities [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate				0.25%
2019 Facilities [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding			$ 0.0
Line of Credit Facility, Maximum Amount Outstanding During Period			745.7
Letters of credit outstanding, amount			24.2
Lines of Credit, Foreign Facilities [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			236.3
Line of credit facility, amount outstanding			$ 70.6
Short-term debt, weighted average interest rate			2.02%
Line of Credit Facility, Maximum Amount Outstanding During Period			$ 97.1
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period			165.0
Commercial Paper [Member] \| United States of America, Dollars
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		675.0
Commercial Paper
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding			0.0
Commercial Paper and 2019 Facilities [Member] \| United States of America, Dollars
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 675.0
Commercial Paper and 2019 Facilities [Member] \| United States of America, Dollars
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period			659.9
2020 Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding			$ 0.0
Maximum Amount of Commitment Increase	$ 100.0
Payments of Debt Issuance Costs	2.0
2020 Facility [Member] \| United States of America, Dollars
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 275.0
2020 Facility [Member] \| United States of America, Dollars \| One Month Adjusted Eurocurrency Rate Loan [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.25%
2020 Facility [Member] \| United States of America, Dollars \| Base Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Outside of 2019 Facilities [Member]
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount			$ 42.9

DEBT Schedule of Mandatory Long-Term Debt Repayments (Details)
$ in Millions

Aug. 02, 2020

USD ($)

^[1]

$ 7.4

40.5

105.4

226.4

1,949.5

$ 500.0

[1]	A portion of the Company’s mandatory long-term debt repayments are denominated in euros and subject to changes in the exchange rate of the United States dollar against the euro.

DEBT Schedule of Long Term Debt Instruments (Details)
€ in Millions, $ in Millions, $ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

14 Months Ended

21 Months Ended

Apr. 08, 2020

USD ($)

Apr. 29, 2019

USD ($)

Aug. 02, 2020

USD ($)

Aug. 04, 2019

USD ($)

Aug. 02, 2020

USD ($)

Aug. 02, 2020

EUR (€)

Aug. 04, 2019

USD ($)

Jun. 30, 2023

Jun. 30, 2022

Aug. 01, 2021

Jun. 30, 2021

Aug. 02, 2020

EUR (€)

Jul. 10, 2020

USD ($)

Jun. 03, 2020

USD ($)

Apr. 24, 2020

EUR (€)

Feb. 02, 2020

USD ($)

Apr. 29, 2019

EUR (€)

Apr. 29, 2019

CAD ($)

Jun. 20, 2016

EUR (€)

May 19, 2016

USD ($)

May 19, 2016

EUR (€)

Percentage of long-term debt at fixed interest rates

70.00%

Long-term debt (including portion classified as current), carrying amount

$ 3,513.1

$ 2,784.2

$ 3,513.1

$ 2,784.2

$ 2,707.7

Long-term Debt, Current Maturities

14.8

41.2

14.8

41.2

13.8

Long-term Debt, Excluding Current Maturities

3,498.3

2,743.0

3,498.3

2,743.0

2,693.9

Repayment of senior secured credit facilities

0.0

1,649.3

Repayment of senior unsecured credit facilities

$ 0.0

0.0

5.2

$ 6.9

0.0

Senior debenture due 2023 [Member]

7.75%

Senior notes due 2024 [Member]

$ 99.7

99.6

$ 99.7

99.6

99.7

Long-term Debt, Gross

$ 100.0

3.625%

^[2],[3]

$ 615.2

^[1]

384.3

$ 615.2

^[1]

384.3

382.9

3.0

€ 2.8

Senior notes due 2027 [Member]

$ 525.0

€ 525.0

€ 175.0

€ 350.0

3.125%

Debt instrument, face amount | €

^[3]

$ 703.3

658.3

$ 703.3

658.3

655.6

€ 600.0

Senior Notes Due 2025

4.625%

$ 493.9

0.0

$ 493.9

0.0

6.2

$ 500.0

2019 Facilities [Member]

Line of credit facility, amount outstanding

0.0

Letters of credit outstanding, amount

24.2

2020 Facility [Member]

Maximum Amount of Commitment Increase

$ 100.0

Line of credit facility, amount outstanding

0.0

$ 0.0

2020 Facility [Member] | United States of America, Dollars

2.0

Line of credit facility, maximum borrowing capacity

$ 275.0

One Month Adjusted Eurocurrency Rate Loan [Member] | 2020 Facility [Member] | United States of America, Dollars

Base Rate [Member] | 2020 Facility [Member] | United States of America, Dollars

2.25%

2019 Facilities USD Term Loan A [Member]

1.25%

2019 Facilities Euro Term Loan A [Member]

Unsecured Debt

$ 1,093.2

Long-term Debt, Gross

1,029.6

$ 1,029.6

Long-term Debt, Gross | €

Unsecured Debt | €

€ 500.0

€ 487.5

2019 Facilities [Member]

Maximum Amount of Commitment Increase

1,500.0

Write off of deferred debt issuance costs

1.7

10.4

Deferred Debt Issuance Costs

3.5

6.9

Minimum Liquidity Covenant

$ 400.0

2019 Facilities [Member] | United States Dollars or Canadian Dollars [Member]

Line of credit facility, maximum borrowing capacity

$ 70.0

2019 Facilities [Member] | Euro, British Pound, Japanese Yen, Swiss Francs, Australian dollars and other foreign currencies [Member]

Line of credit facility, maximum borrowing capacity | €

€ 200.0

2019 Facilities [Member] | United States Dollars and Hong Kong Dollars [Member]

Line of credit facility, maximum borrowing capacity

$ 50.0

2019 Facilities [Member] | Base Rate [Member]

2019 Facilities Term Loan A [Member]

0.25%

Term Loan A Repayment Percentage Quarters Following Refinance

Unsecured Debt

^[3],[4]

$ 1,601.0

$ 1,642.0

1,601.0

1,642.0

$ 1,569.5

7.50%

5.00%

2.50%

Repayment of senior unsecured credit facilities

$ 6.9

$ 0.0

2019 Facilities Term Loan A [Member] | One Month Adjusted Eurocurrency Rate Loan [Member] | United States Dollars or Euros [Member]

2019 Facilities Term Loan A [Member] | Base Rate [Member] | United States Dollars or Euros [Member]

1.625%

2016 Facilities Term Loan A [Member]

0.625%

2016 Senior Secured Credit Facilities [Member] | United States of America, Dollars

Unsecured Debt

$ 2,347.4

Line of credit facility, maximum borrowing capacity

475.0

2016 Senior Secured Credit Facilities [Member] | United States Dollars or Canadian Dollars [Member]

Line of credit facility, maximum borrowing capacity

$ 25.0

2016 Senior Secured Credit Facilities [Member] | Euro, British Pound, Japanese Yen and Swiss Francs [Member]

Line of credit facility, maximum borrowing capacity | €

€ 185.9

2019 and 2020 Facilties | United States of America, Dollars | United States Federal Fund Rate [Member]

2019 and 2020 Facilties | United States of America, Dollars | One Month Adjusted Eurocurrency Rate Loan [Member]

0.50%

1.00%

[1]	Includes an additional €175.0 million principal amount of 3 5/8% senior unsecured euro notes due 2024 that were issued on April 24, 2020.
[2]	Includes €350.0 million principal amount of 3 5/8% senior unsecured euro notes due 2024 that were issued on June 20, 2016.
[3]	The carrying amount of the euro-denominated Term Loan A facility and the senior unsecured euro notes includes the impact of changes in the exchange rate of the United States dollar against the euro.
[4]	The outstanding principal balance for the United States dollar-denominated Term Loan A facility and the euro-denominated Term Loan A facility was $1,029.6 million and €487.5 million, respectively, as of August 2, 2020.

DEBT Interest Rate Swap Agreements (Details) - USD ($) $ in Millions	Feb. 26, 2021	Aug. 02, 2020	Feb. 28, 2020	Feb. 18, 2020	Jun. 28, 2019	Feb. 19, 2019	Aug. 06, 2018	Feb. 20, 2018
2020 Interest Rate Swap - August 2019 Designation - February 2022 Expiration
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		1.1975%
Derivative, Notional Amount		$ 50.0	$ 50.0
2020 Interest Rate Swap - June 2019 Designation - February 2022 Expiration
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		1.409%
Derivative, Notional Amount		$ 50.0	50.0
2019 Interest Rate Swap - June 2019 Designation - July 2021 Expiration
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		1.719%
Derivative, Notional Amount		$ 50.0			$ 50.0
2020 Interest Rate Swap - January 2019 Designation - February 2021 Expiration
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		2.4187%
Derivative, Notional Amount		$ 50.0		$ 50.0
2019 Interest Rate Swap - November 2018 Designation - February 2021 Expiration
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		2.8645%
Derivative, Notional Amount		$ 126.6				$ 139.2
2019 Interest Rate Swap - October 2018 Designation - February 2021 Expiration
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		2.9975%
Derivative, Notional Amount		$ 159.8				$ 115.7
2018 Interest Rate Swap - June 2018 Designation - February 2021 Expiration
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		2.6825%
Derivative, Notional Amount		$ 50.0					$ 50.0
2018 Interest Rate Swap - June 2017 Designation - February 2020 Expiration
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		1.566%
Derivative, Notional Amount		$ 0.0						$ 306.5
2020 Interest Rate Swap - 3 Year Term - February 2020 Designation
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		1.2575%
Derivative, Notional Amount		$ 50.0	$ 50.0
2020 Interest Rate Swap - 2 Year Term - February 2020 Desigination
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		1.1625%
Derivative, Notional Amount	$ 50.0	$ 0.0
2020 Interest Rate Swap - 2 Year Term - March 2020 Designation
Schedule of Interest Rate Swap Agreements [Line Items]
Derivative, Fixed Interest Rate		0.562%
Derivative, Notional Amount	$ 50.0	$ 0.0

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Aug. 02, 2020	May 03, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Income Taxes [Line Items]
Effective income tax rate	(53.00%)		13.30%	9.80%	16.30%
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	14.60%			9.80%
International Tax Jurisdictions				40
Income tax expense (benefit)	$ 17.9		$ 29.7	$ (124.5)	$ 53.3
(Loss) income before taxes	$ (33.8)		$ 222.8	(1,273.4)	$ 328.0
Goodwill, Impairment Loss				$ 879.0
Goodwill [Member] \| Fair Value, Nonrecurring [Member]
Income Taxes [Line Items]
Goodwill, Impairment Loss		$ 879.0
Australia Acquisition [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent			13.70%		8.50%

DERIVATIVE FINANCIAL INSTRUMENTS (Details)
€ in Millions, $ in Millions

3 Months Ended

6 Months Ended

Aug. 02, 2020

USD ($)

Aug. 04, 2019

USD ($)

Aug. 02, 2020

USD ($)

Aug. 04, 2019

USD ($)

Aug. 02, 2020

EUR (€)

Apr. 24, 2020

EUR (€)

Feb. 02, 2020

USD ($)

Jun. 20, 2016

EUR (€)

Foreign Currency Forward Exchange Contracts [Member]

Cost of goods sold

$ 697.4

$ 1,075.8

$ 1,375.5

$ 2,136.2

Interest expense

32.7

28.3

55.2

59.3

Derivative, Notional Amount

1,002.0

Net Investment Hedging [Member]

Long-term Debt, Fair Value

1,320.3

1,187.0

1,320.3

1,187.0

$ 1,178.6

Long-term Debt, Carrying Amount

1,318.5

1,042.6

1,318.5

1,042.6

1,038.5

Derivative Contract | Other Current Assets [Member]

Derivative Contract | Other Assets [Member]

5.8

40.1

5.8

40.1

23.0

Derivative Contract | Accrued Expenses [Member]

0.0

0.7

0.0

0.7

0.4

Derivative Contract | Other Liabilities [Member]

38.1

7.9

38.1

7.9

7.6

Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | Other Current Assets [Member]

3.1

3.0

3.1

3.0

0.5

Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | Other Assets [Member]

2.8

3.8

2.8

3.8

1.5

Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | Accrued Expenses [Member]

0.0

Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | Other Liabilities [Member]

6.4

2.2

6.4

2.2

0.9

Cost of Sales [Member] | Foreign Exchange Forward Inventory Purchases [Member]

$ 0.0

0.0

Derivative Instruments, Net Loss Reclassification from AOCL to expense, Estimate of Time to Transfer

12 months

Derivative Instruments, Net Loss Reclassification from AOCL to expense, Estimated Net Amount to be Transferred

$ 7.3

Interest Expense [Member] | Interest Rate Swap [Member]

Derivative Instruments, Net Loss Reclassification from AOCL to expense, Estimate of Time to Transfer

12 months

Derivative Instruments, Net Loss Reclassification from AOCL to expense, Estimated Net Amount to be Transferred

$ 8.3

Selling, General and Administrative Expenses [Member] | Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member]

Derivative Instruments Not Designated as Hedging Instruments, (Loss) Gain Recognized in (Expense) Income, Net

(4.7)

0.8

(4.1)

0.7

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Foreign Exchange Forward Inventory Purchases [Member]

Other comprehensive income (loss) before reclassifications, net unrealized and realized gain (loss) on effective cash flow hedges, net of tax

(57.9)

12.4

(36.1)

42.5

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Foreign Exchange Forward Inventory Purchases [Member] | Other Current Assets [Member]

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Foreign Exchange Forward Inventory Purchases [Member] | Other Assets [Member]

3.0

36.0

3.0

36.0

21.4

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Foreign Exchange Forward Inventory Purchases [Member] | Accrued Expenses [Member]

0.0

0.7

0.0

0.7

0.4

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Foreign Exchange Forward Inventory Purchases [Member] | Other Liabilities [Member]

23.4

1.6

23.4

1.6

1.2

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Interest Rate Swap [Member]

0.2

0.1

0.2

0.1

Other comprehensive income (loss) before reclassifications, net unrealized and realized gain (loss) on effective cash flow hedges, net of tax

(0.6)

(4.0)

(10.0)

(5.1)

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Interest Rate Swap [Member] | Other Current Assets [Member]

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Interest Rate Swap [Member] | Other Assets [Member]

0.0

0.3

0.0

0.3

0.1

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Interest Rate Swap [Member] | Accrued Expenses [Member]

0.0

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Interest Rate Swap [Member] | Other Liabilities [Member]

8.3

4.1

8.3

4.1

5.5

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Net Investment Hedging [Member]

2.9

0.4

Other comprehensive income (loss) before reclassifications, net unrealized and realized gain (loss) on effective cash flow hedges, net of tax

(108.1)

4.6

(92.9)

34.2

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Derivative Contract

Other comprehensive income (loss) before reclassifications, net unrealized and realized gain (loss) on effective cash flow hedges, net of tax

(166.6)

13.0

(139.0)

71.6

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Derivative Contract | Other Current Assets [Member]

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Derivative Contract | Other Assets [Member]

3.0

36.3

3.0

36.3

21.5

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Derivative Contract | Accrued Expenses [Member]

0.0

0.7

0.0

0.7

0.4

Cash Flow Hedging [Member] | Contracts designated as cash flow hedges [Member] | Derivative Contract | Other Liabilities [Member]

31.7

5.7

31.7

5.7

6.7

Cash Flow Hedging [Member] | Cost of Sales [Member] | Contracts designated as cash flow hedges [Member] | Foreign Exchange Forward Inventory Purchases [Member]

3.1

3.0

3.1

3.0

0.5

Derivative Instruments, Gain (Loss) Reclassified from AOCL into Income (Expense), Effective Portion, Net

0.9

10.7

3.1

25.7

Cash Flow Hedging [Member] | Interest Expense [Member] | Contracts designated as cash flow hedges [Member] | Interest Rate Swap [Member]

Derivative Instruments, Gain (Loss) Reclassified from AOCL into Income (Expense), Effective Portion, Net

(2.9)

0.0

(4.6)

0.2

Cash Flow Hedging [Member] | Income Statement Location | Contracts designated as cash flow hedges [Member]

Derivative Instruments, Gain (Loss) Reclassified from AOCL into Income (Expense), Effective Portion, Net

(2.0)

10.7

(1.5)

25.9

Senior notes due 2027 [Member]

Debt instrument, face amount | €

€ 600.0

Long-term Debt, Carrying Amount

^[1]

$ 703.3

658.3

$ 703.3

658.3

655.6

Senior notes due 2024 [Member]

3.125%

Long-term Debt, Carrying Amount

$ 525.0

€ 525.0

€ 175.0

€ 350.0

^[1],[3]

$ 615.2

^[2]

$ 384.3

$ 615.2

^[2]

$ 384.3

$ 382.9

Reported Value Measurement [Member]

3.625%

[1]	The carrying amount of the euro-denominated Term Loan A facility and the senior unsecured euro notes includes the impact of changes in the exchange rate of the United States dollar against the euro.
[2]	Includes an additional €175.0 million principal amount of 3 5/8% senior unsecured euro notes due 2024 that were issued on April 24, 2020.
[3]	Includes €350.0 million principal amount of 3 5/8% senior unsecured euro notes due 2024 that were issued on June 20, 2016.

FAIR VALUE MEASUREMENTS (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Aug. 02, 2020

May 03, 2020

Aug. 04, 2019

Aug. 02, 2020

Aug. 04, 2019

Feb. 02, 2020

Feb. 03, 2019

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash and cash equivalents

$ 1,394.3

$ 433.5

$ 1,394.3

$ 433.5

$ 503.4

Short-term borrowings

70.6

183.2

70.6

183.2

49.6

Long-term debt (including portion classified as current), carrying amount

3,513.1

2,784.2

3,513.1

2,784.2

2,707.7

Cash and cash equivalents

^[1]

961.8

1,394.3

433.5

1,394.3

433.5

503.4

$ 452.0

Short-term borrowings

70.6

183.2

70.6

183.2

49.6

Long-term debt (including portion classified as current), carrying amount

3,513.1

2,784.2

3,513.1

2,784.2

2,707.7

0.0

933.5

0.0

879.0

23.2

87.8

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Equity Method Investment, Other than Temporary Impairment

12.3

Operating lease right-of-use assets [Member] | Fair Value, Nonrecurring [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

93.8

Property, Plant and Equipment [Member]

77.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Property, Plant and Equipment [Member] | Fair Value, Nonrecurring [Member]

16.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

17.1

10.8

17.1

10.8

10.8

1.1

0.0

1.1

0.0

Property, Plant and Equipment [Member] | Fair Value, Nonrecurring [Member] | Heritage Retail Exit [Member]

23.2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

7.2

Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

0.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member] | Goodwill and Other Intangible Assets Impairments [Member]

969.0

87.8

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member] | Selling, General and Administrative Expenses [Member]

933.5

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Trademarks | Fair Value, Nonrecurring [Member]

23.2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

95.9

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

48.7

$ 47.2

47.2

Other Intangible Assets | Fair Value, Nonrecurring [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

7.3

Equity Method Investments | Fair Value, Nonrecurring [Member] | Karl Lagerfeld [Member]

7.3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Equity Method Investment, Other than Temporary Impairment

12.3

Goodwill [Member] | Fair Value, Nonrecurring [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

1,531.6

652.6

Estimate of Fair Value Measurement

879.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash and cash equivalents, fair value

1,394.3

433.5

1,394.3

433.5

503.4

Short-term borrowings, fair value

70.6

183.2

70.6

183.2

49.6

Long-term debt (including portion classified as current), fair value

3,552.3

2,949.6

3,552.3

2,949.6

2,869.7

Estimate of Fair Value Measurement | Fair Value, Recurring [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Foreign currency forward exchange contracts, assets

5.8

40.5

5.8

40.5

23.3

Interest rate swap agreements, assets

0.0

0.3

0.0

0.3

0.1

Foreign currency forward exchange contracts, liabilities

5.8

40.8

5.8

40.8

23.4

30.0

3.9

30.0

3.9

2.2

Interest rate swap agreements, liabilities

11.2

7.0

11.2

7.0

5.9

Total Liabilities

41.2

10.9

41.2

10.9

8.1

Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Foreign currency forward exchange contracts, assets

5.8

40.5

5.8

40.5

23.3

Interest rate swap agreements, assets

0.0

0.3

0.0

0.3

0.1

Foreign currency forward exchange contracts, liabilities

5.8

40.8

5.8

40.8

23.4

30.0

3.9

30.0

3.9

2.2

Interest rate swap agreements, liabilities

11.2

7.0

11.2

7.0

5.9

Total Liabilities

41.2

10.9

41.2

10.9

$ 8.1

Fair Value, Inputs, Level 3 [Member] | Operating lease right-of-use assets [Member] | Fair Value, Nonrecurring [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Inputs, Level 3 [Member] | Property, Plant and Equipment [Member] | Fair Value, Nonrecurring [Member]

16.8

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Inputs, Level 3 [Member] | Trademarks | Fair Value, Nonrecurring [Member]

1.1

$ 0.0

1.1

0.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Inputs, Level 3 [Member] | Other Intangible Assets | Fair Value, Nonrecurring [Member]

48.7

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Inputs, Level 3 [Member] | Equity Method Investments | Fair Value, Nonrecurring [Member]

0.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Inputs, Level 3 [Member] | Goodwill [Member] | Fair Value, Nonrecurring [Member]

0.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Calvin Klein North America [Member]

652.6

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

289.9

Calvin Klein North America [Member] | Property, Plant and Equipment [Member]

287.3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Calvin Klein North America [Member] | Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

3.2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Calvin Klein North America [Member] | Goodwill [Member] | Fair Value, Nonrecurring [Member]

293.1

32.6

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Tommy Hilfiger North America [Member]

287.3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Tommy Hilfiger North America [Member] | Property, Plant and Equipment [Member]

0.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Tommy Hilfiger North America [Member] | Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

4.1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

4.1

49.6

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Tommy Hilfiger International [Member] | Property, Plant and Equipment [Member]

0.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Tommy Hilfiger International [Member] | Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

3.1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

3.1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

394.0

Calvin Klein International [Member] | Property, Plant and Equipment [Member]

394.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Calvin Klein International [Member] | Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

1.8

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Calvin Klein International [Member] | Goodwill [Member] | Fair Value, Nonrecurring [Member]

395.8

$ 5.6

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Heritage Brands Retail [Member]

394.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Heritage Brands Retail [Member] | Property, Plant and Equipment [Member]

0.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Heritage Brands Retail [Member] | Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

3.8

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Heritage Brands Wholesale [Member]

11.0

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

$ 249.6

Heritage Brands Wholesale [Member] | Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

197.7

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Heritage Brands Wholesale [Member] | Goodwill [Member] | Fair Value, Nonrecurring [Member]

249.6

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Corporate Segment [Member] | Long-lived Assets, Other [Member] | Fair Value, Nonrecurring [Member]

$ 197.7

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Net gain on net investment hedges, net of tax

$ 12.3

[1]

STOCK BASED COMPENSATION - Stock Incentive Plan (Details) - USD ($) $ in Millions	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 21.8	$ 28.3
Recognized income tax benefits associated with stock-based compensation expense	2.7	3.4
Tax benefits realized from certain transactions associated with stock plan	2.1	8.5
Discrete Net Excess Tax (Deficiencies) Benefits from Share-Based Compensation recognized in Provision for Income Taxes	$ (5.1)	$ 1.1

STOCK-BASED COMPENSATION - Stock Option Activity (Details) - USD ($)	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reduction in Number of Shares Available for Grant by Each Option Award	1
Vesting period (in years)	4 years
Beginning vesting term	one year after the date of grant
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Service-based stock option activity [Roll Forward]
Service-based stock options, outstanding, beginning of period	902,000
Service-based stock options, granted	167,000
Service-based stock options, exercised	0
Service-based stock options, cancelled	22,000
Service-based stock options, outstanding, end of period	1,047,000
Service-based stock options, exercisable	699,000
Service-based stock options, outstanding, weighted average price per option, beginning of period	$ 109.25
Service-based stock options, granted, weighted average price per option	48.07
Service-based stock options, exercised, weighted average price per option	0
Service-based stock options, cancelled, weighted average price per option	74.50
Service-based stock options, outstanding, weighted average price per option, end of period	100.23
Service-based stock options, exercisable, weighted average price per option	$ 108.03
Black-Scholes-Merton Model [Member]
Assumptions used to estimate fair value of service-based stock options [Abstract]
Weighted average risk-free interest rate	0.53%	2.15%
Weighted average expected stock option term (in years)	6 years 3 months	6 years 3 months
Weighted average Company volatility	44.80%	29.88%
Expected annual dividends per share	$ 0.15	$ 0.15
Weighted average grant date fair value per stock option	$ 20.20	$ 37.14

STOCK-BASED COMPENSATION - RSU, Restricted Stock and Performance Share Activity (Details) - USD ($)	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reduction in number of shares available for grant by each RSU or PSU award	2
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Beginning vesting term	one year after the date of grant
First RSU Vesting Installments, Nonemployee Directors, Number of Yrs Following Grant Date	one year after the date of grant
Non-vested activity [Roll Forward]
Other than options, non-vested number, beginning of period	996,000
Other than options, granted number	464,000
Other than options, vested number	328,000
Other than options, cancelled number	68,000
Other than options, non-vested number, end of period	1,064,000
Other than options, non-vested, weighted average grant date fair value, beginning of period	$ 117.28
Other than options, granted, weighted average grant date fair value	47.76
Other than options, vested, weighted average grant date fair value	115.35
Other than options, cancelled, weighted average grant date fair value	108.19
Other than options, non-vested, weighted average grant date fair value, end of period	$ 88.11
Performance Shares (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Percentage of Final Number of Shares Based Upon the Company's Absolute Stock Price Growth	50.00%
Percent of Final Number of Shares Based Upon the Company's Total Shareholder Return	50.00%
Non-vested activity [Roll Forward]
Other than options, non-vested number, beginning of period	181,000
Other than options, granted number	75,000
Other than options, reduction due to market condition not satisfied	70,000
Other than options, vested number	0
Other than options, cancelled number	0
Other than options, non-vested number, end of period	186,000
Other than options, non-vested, weighted average grant date fair value, beginning of period	$ 119.63
Other than options, granted, weighted average grant date fair value	58.83
Other than options, reduction due to market condition not satisfied, weighted average grant fair value	96.47
Other than options, vested, weighted average grant date fair value	0
Other than options, cancelled, weighted average grant date fair value	0
Other than options, non-vested, weighted average grant date fair value, end of period	$ 103.94
Performance Shares (PSUs) [Member] \| Monte Carlo Model [Member]
Assumptions used to estimate fair value of service-based stock options [Abstract]
Weighted average risk-free interest rate	0.20%	2.13%
Weighted average Company volatility	48.91%	30.25%
Expected annual dividends per share	$ 0.15	$ 0.15
Restriction of Liquidity Discount	15.05%	6.20%
Non-vested activity [Roll Forward]
Other than options, granted, weighted average grant date fair value	$ 58.83	$ 119.46

ACCUMULATED OTHER COMPREHENSIVE LOSS CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Aug. 02, 2020

May 03, 2020

Aug. 04, 2019

May 05, 2019

Aug. 02, 2020

Aug. 04, 2019

$ 81.8

$ (3.5)

$ 70.3

$ (25.9)

$ (640.1)

(640.1)

110.8

(27.7)

17.5

(103.5)

Foreign currency translation adjustments

(622.6)

(611.4)

(622.6)

(611.4)

Net gain on net investment hedges, net of tax

(70.3)

25.9

Other comprehensive income (loss), before reclassifications, net of tax

(665.7)

$ (537.6)

(665.7)

(537.6)

^[2]

60.5

^[1]

(116.4)

^[3]

Less: Amounts reclassified from AOCL, net of tax

0.0

60.5

(116.4)

Net unrealized and realized gain (loss) on effective cash flow hedges

(605.2)

(654.0)

(605.2)

(654.0)

Other comprehensive income (loss), before reclassifications, net of tax

25.6

29.7

25.6

29.7

(43.6)

37.3

Less: Amounts reclassified from AOCL, net of tax

(1.3)

10.1

(0.6)

24.4

(43.0)

12.9

Net gain on net investment hedges, net of tax

(17.4)

42.6

(17.4)

42.6

Total

(81.8)

11.5

3.5

22.4

Other comprehensive income (loss), before reclassifications, net of tax

$ (640.1)

$ (507.9)

(640.1)

(507.9)

16.9

(79.1)

Less: Amounts reclassified from AOCL, net of tax

(0.6)

24.4

17.5

(103.5)

$ (622.6)

$ (611.4)

$ (622.6)

$ (611.4)

[1]	Favorable foreign currency translation adjustments were principally driven by a weakening of the United States dollar against the euro.
[2]	Foreign currency translation adjustments included a net (loss) gain on net investment hedges of $(70.3) million and $25.9 million during the twenty-six weeks ended August 2, 2020 and August 4, 2019, respectively.
[3]	Unfavorable foreign currency translation adjustments were principally driven by a strengthening of the United States dollar against the euro

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Amount after tax and reclassification adjustments of other comprehensive income (loss).

ACCUMULATED OTHER COMPREHENSIVE LOSS RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Income tax expense (benefit) [Member]
Reclassification from AOCL, Current Period, Tax	$ (0.7)	$ 0.6	$ (0.9)	$ 1.5
Foreign Exchange Forward Inventory Purchases [Member] \| Cost of Sales [Member]
Reclassification from AOCL, Current Period, before Tax	0.9	10.7	3.1	25.7
Interest Rate Swap [Member] \| Interest Expense [Member]
Reclassification from AOCL, Current Period, before Tax	(2.9)	0.0	(4.6)	0.2
Net unrealized and realized gain (loss) on effective cash flow hedges
Reclassification from AOCL, Current Period, Net of Tax	$ (1.3)	$ 10.1	$ (0.6)	$ 24.4

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended				6 Months Ended
	Mar. 04, 2020	Aug. 02, 2020	May 03, 2020	Aug. 04, 2019	May 05, 2019	Aug. 02, 2020	Aug. 04, 2019
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Number of Shares Repurchased		22,260	1,497,725	711,895	659,630
Common Stock, Dividends, Per Share, Declared	$ 0.0375						$ 0.0375
Cash dividends paid per share			$ 0.0375	$ 0.0375	$ 0.075	$ 0.0375
Dividends						$ 2.7	$ 8.5
Dividend payment frequency per period							3
Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount		$ 2,000.0				$ 2,000.0
Stock Repurchase Program, Number of Shares Repurchased						1,400,000	1,200,000
Stock Repurchase Program, Amount Purchased During Period						$ 110.7	$ 126.9
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 572.6				$ 572.6

EXIT ACTIVITY COSTS (Details)
$ in Millions

6 Months Ended

Jul. 14, 2020

Aug. 02, 2020

USD ($)

numberOfPositions

Restructuring and Related Activities, Initiation Date

Jul. 14, 2020

Restructuring and Related Cost, Number of Positions Eliminated | numberOfPositions

450

Restructuring and Related Cost, Number of Positions Eliminated, Period Percent

12.00%

Selling, General and Administrative Expenses [Member]

$ 35.4

3.0

North America workforce reduction [Member] | Exit activity costs excluding inventory markdowns

38.4

40.0

Total liability, beginning of period

0.0

^[1]

Total liability, end of period

38.4

Exit activity costs paid

0.0

^[1]

35.4

^[1]

North America workforce reduction [Member] | Calvin Klein North America [Member]

North America workforce reduction [Member] | Calvin Klein North America [Member] | Exit activity costs excluding inventory markdowns

10.5

North America workforce reduction [Member] | Heritage Brands Wholesale [Member]

10.5

North America workforce reduction [Member] | Heritage Brands Wholesale [Member] | Exit activity costs excluding inventory markdowns

11.2

North America workforce reduction [Member] | Corporate Segment [Member]

11.2

North America workforce reduction [Member] | Corporate Segment [Member] | Exit activity costs excluding inventory markdowns

5.8

North America workforce reduction [Member] | Tommy Hilfiger North America [Member]

5.8

North America workforce reduction [Member] | Tommy Hilfiger North America [Member] | Exit activity costs excluding inventory markdowns

10.9

Heritage Retail Exit [Member]

10.9

50.0

Heritage Retail Exit [Member] | Long-lived asset impairments

12.3

7.2

Heritage Retail Exit [Member] | Contract termination and other costs

7.2

15.8

Heritage Retail Exit [Member] | Inventory markdowns [Member]

1.3

10.0

Heritage Retail Exit [Member] | Employee Severance [Member]

0.0

17.0

Total liability, beginning of period

0.0

Total liability, end of period

3.8

Exit activity costs paid

0.0

$ 3.8

[1]	⁽¹⁾ The liability at August 2, 2020 excludes the $3.0 million of costs related to the special termination benefits, which are recorded in the pension benefit obligation in the Company’s Consolidated Balance Sheet as of August 2, 2020.

NET (LOSS) INCOME PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net (loss) income attributable to PVH Corp.	$ (51.4)	$ 193.5	$ (1,148.2)	$ 275.5
Weighted average common shares outstanding for basic net (loss) income per common share	71.1	74.8	71.2	75.0
Weighted average impact of dilutive securities	0.0	0.3	0.0	0.5
Total shares for diluted net (loss) income per common share	71.1	75.1	71.2	75.5
Basic net (loss) income per common share attributable to PVH Corp.	$ (0.72)	$ 2.59	$ (16.12)	$ 3.67
Diluted net (loss) income per common share attributable to PVH Corp.	$ (0.72)	$ 2.58	$ (16.12)	$ 3.65
Weighted average potentially dilutive securities	2.2	1.3	2.1	0.9

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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NET (LOSS) INCOME PER COMMON SHARE - DILUTED (Details) - shares shares in Millions	Aug. 02, 2020	Aug. 04, 2019
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Number of Dilutive Shares That Could Be Issued Upon Vesting	0.4	0.4

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	May 31, 2019	Aug. 02, 2020	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020
Nonmonetary Transaction [Line Items]
Treasury Stock, Shares Purchased Not Yet Settled				$ 2.0
Operating cash flows from operating leases			$ 180.8	234.5
Operating cash flows from finance leases			0.2	0.3
Finance Lease, Principal Payments			2.7	2.9
Right-of-use assets obtained in exchange for new operating lease liabilities			168.9	244.1
Right-of-use assets obtained in exchange for new finance lease liabilities			1.7	1.4
Rent abatement [Abstract]		$ 19.3	31.7
2016 Senior Secured Credit Facilities [Member]
Nonmonetary Transaction [Line Items]
Write off of deferred debt issuance costs				1.7
Senior Notes Due 2025
Nonmonetary Transaction [Line Items]
Debt Issuance Costs Incurred		1.0	1.0
Australia Acquisition [Member]
Nonmonetary Transaction [Line Items]
Pre-Acquisition Accounts Receivable	$ 2.2
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	$ 113.1
Australia Acquisition [Member] \| 6% [Member]
Nonmonetary Transaction [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	6.00%
Gazal Corporation Limited [Member] \| Australia Acquisition [Member]
Nonmonetary Transaction [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	$ 23.6
PVH Australia Joint Venture [Member] \| Australia Acquisition [Member]
Nonmonetary Transaction [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	89.5
Fair Value, Inputs, Level 3 [Member] \| Australia Acquisition [Member]
Nonmonetary Transaction [Line Items]
Redeemable Noncontrolling Interest, Equity, Common, Redemption Value		18.8	18.8	$ 25.7	$ 33.8
Noncontrolling Interest, Change in Redemption Value		$ 4.6	$ 0.9
Redeemable Noncontrolling Interest, Equity, Common, Fair Value	$ 26.2

SEGMENT DATA (Details)
$ in Millions

3 Months Ended

6 Months Ended

May 31, 2019

USD ($)

Aug. 02, 2020

USD ($)

Aug. 04, 2019

USD ($)

Aug. 02, 2020

USD ($)

Aug. 04, 2019

USD ($)

Segment Reporting, Number of Reportable Segments

$ 0.0

$ 5.2

Revenue:

^[1]

1,580.7

^[2]

2,364.2

2,924.7

^[2]

4,720.5

^[3]

(1.7)

^[4]

249.8

(1,220.1)

^[4]

384.9

0.0

(113.1)

3.1

(113.1)

^[4]

961.8

0.0

933.5

0.0

Property, Plant and Equipment [Member]

23.2

87.8

16.0

Speedo Transaction

Heritage Retail Exit [Member]

3.1

12.3

North America workforce reduction [Member] | Exit activity costs excluding inventory markdowns

38.4

Calvin Klein Restructuring [Member]

38.4

Socks and hosiery transaction [Member]

29.1

99.4

59.8

Net sales

Revenue:

1,531.2

2,249.0

2,788.4

4,486.3

Royalty revenue

Revenue:

Advertising and other revenue

37.0

85.8

106.0

175.2

Revenue:

Calvin Klein North America [Member]

12.5

29.4

30.3

59.0

Revenue:

199.7

^[1],[2]

408.8

^[1]

395.8

832.8

(21.6)

^[5]

11.3

^[6],[7]

(349.4)

^[5],[8],[9]

12.7

^[7],[10]

Calvin Klein North America [Member] | Property, Plant and Equipment [Member]

289.9

Calvin Klein North America [Member] | North America workforce reduction [Member]

3.2

Calvin Klein North America [Member] | North America workforce reduction [Member] | Exit activity costs excluding inventory markdowns

10.5

Calvin Klein North America [Member] | Calvin Klein Restructuring [Member]

10.5

Calvin Klein North America [Member] | Socks and hosiery transaction [Member]

14.2

65.1

Calvin Klein North America [Member] | Net sales

25.5

Revenue:

Calvin Klein North America [Member] | Royalty revenue

180.7

366.1

344.6

744.5

Revenue:

Calvin Klein North America [Member] | Advertising and other revenue

13.7

31.5

38.8

64.9

Revenue:

5.3

11.2

12.4

23.4

Revenue:

390.8

^[1],[2]

464.5

^[1]

671.3

930.1

45.0

6.6

^[6],[7],[11]

(388.8)

^[8],[9]

53.5

^{[7],[10],[11]}

Calvin Klein International [Member] | Property, Plant and Equipment [Member]

394.0

Calvin Klein International [Member] | Calvin Klein Restructuring [Member]

1.8

Calvin Klein International [Member] | Socks and hosiery transaction [Member]

14.9

34.3

Calvin Klein International [Member] | Net sales

26.8

Revenue:

Calvin Klein International [Member] | Royalty revenue

381.6

440.4

643.9

881.5

Revenue:

Calvin Klein International [Member] | Advertising and other revenue

6.4

17.9

20.6

35.8

Revenue:

Tommy Hilfiger North America [Member]

2.8

6.2

6.8

12.8

Tommy Hilfiger Store Closures

54.9

Revenue:

202.0

^[1],[2]

413.0

^[1]

383.3

784.8

Tommy Hilfiger North America [Member] | Property, Plant and Equipment [Member]

(32.2)

^[5]

48.3

^[7]

(82.2)

^[5],[8]

33.6

^[7],[12]

Tommy Hilfiger North America [Member] | North America workforce reduction [Member]

4.1

Tommy Hilfiger North America [Member] | North America workforce reduction [Member] | Exit activity costs excluding inventory markdowns

10.9

Tommy Hilfiger North America [Member] | Socks and hosiery transaction [Member]

10.9

Tommy Hilfiger North America [Member] | Net sales

7.5

Revenue:

Tommy Hilfiger North America [Member] | Royalty revenue

194.1

390.1

355.2

737.9

Revenue:

Tommy Hilfiger North America [Member] | Advertising and other revenue

7.1

18.1

23.9

36.8

Revenue:

0.8

4.8

4.2

10.1

Revenue:

601.7

^[1],[2]

697.2

^[1]

1,066.9

1,377.5

Tommy Hilfiger International [Member] | Property, Plant and Equipment [Member]

83.0

99.8

^[11]

44.2

^[8]

206.6

^[11]

Tommy Hilfiger International [Member] | Net sales

3.1

Revenue:

Tommy Hilfiger International [Member] | Royalty revenue

590.2

679.0

1,044.1

1,341.7

Revenue:

Tommy Hilfiger International [Member] | Advertising and other revenue

8.2

12.4

17.0

25.6

Revenue:

Heritage Brands Wholesale [Member]

3.3

5.8

10.2

Revenue:

152.1

^[1],[2]

310.6

^[1]

351.6

667.0

(6.7)

^[5]

14.0

^[11]

(294.6)

^[5],[9],[13]

53.0

^[11]

Heritage Brands Wholesale [Member] | North America workforce reduction [Member]

249.6

Heritage Brands Wholesale [Member] | North America workforce reduction [Member] | Exit activity costs excluding inventory markdowns

11.2

Heritage Brands Wholesale [Member] | Net sales

11.2

Revenue:

Heritage Brands Wholesale [Member] | Royalty revenue

150.5

304.4

345.8

654.7

Revenue:

Heritage Brands Wholesale [Member] | Advertising and other revenue

1.4

5.0

4.8

10.1

Revenue:

Heritage Brands Retail [Member]

0.2

1.2

1.0

2.2

Revenue:

34.4

^[1],[2]

70.1

^[1]

55.8

128.3

Heritage Brands Retail [Member] | Property, Plant and Equipment [Member]

(25.4)

^[14]

3.1

(48.4)

^[8],[14]

4.1

Heritage Brands Retail [Member] | Heritage Retail Exit [Member]

3.8

Heritage Brands Retail [Member] | Net sales

12.3

Revenue:

Heritage Brands Retail [Member] | Royalty revenue

34.1

69.0

54.8

126.0

Revenue:

Heritage Brands Retail [Member] | Advertising and other revenue

0.2

0.9

2.0

Revenue:

Corporate Segment [Member]

0.1

0.2

0.1

0.3

Corporate Segment [Member] | North America workforce reduction [Member]

^[15]

$ (43.8)

^[5]

$ 66.7

^[11],[16]

(100.9)

^[5],[17]

21.4

^[11],[16]

Corporate Segment [Member] | North America workforce reduction [Member] | Exit activity costs excluding inventory markdowns

5.8

Australia and TH CSAP Acquisitions [Member]

5.8

Australia and TH CSAP Acquisitions [Member] | Calvin Klein International [Member]

4.8

Australia and TH CSAP Acquisitions [Member] | Tommy Hilfiger International [Member]

1.5

Australia and TH CSAP Acquisitions [Member] | Heritage Brands Wholesale [Member]

2.5

Australia and TH CSAP Acquisitions [Member] | Corporate Segment [Member]

0.4

Australia Acquisition [Member]

2.5

Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain

$ 113.1

Australia Acquisition [Member] | Corporate Segment [Member]

Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain

113.1

Gazal and PVH Australia [Member] | Australia Acquisition [Member]

Business Combination, Costs Related to Equity Investment

$ 2.1

Equity Method Investment, Other than Temporary Impairment

$ 12.3

[1]	Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[2]	Revenue was significantly negatively impacted by the COVID-19 pandemic, including as a result of temporary store closures and reduced traffic and consumer spending trends. The Company’s wholesale customers and licensing partners also experienced significant business disruptions as a result of the pandemic, resulting in a decrease in the Company’s revenue from these channels
[3]	(Loss) Income before interest and taxes was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[4]	(Loss) Income before interest and taxes was significantly negatively impacted by the COVID-19 pandemic, including as a result of the unprecedented decline in revenue noted above. As well, (loss) income before interest and taxes for the twenty-six weeks ended August 2, 2020 was significantly adversely impacted by $961.8 million of noncash impairment charges related to goodwill, tradenames, other intangible assets, store assets and an equity method investment resulting from the significant adverse impacts of the COVID-19 on the Company’s business.
[5]	Loss before interest and taxes for the thirteen and twenty-six weeks ended August 2, 2020 included costs of $38.4 million incurred in connection with the North America workforce reduction, consisting of severance and special termination benefits. Such costs were included in the Company’s segments as follows: $11.2 million in Heritage Brands Wholesale, $10.9 million in Tommy Hilfiger North America, $10.5 million in Calvin Klein North America, and $5.8 million in corporate expenses not allocated to any reportable segments. Please see Note 16, “Exit Activity Costs,” for further discussion.
[6]	Income before interest and taxes for the thirteen weeks ended August 4, 2019 included costs of $29.1 million incurred in connection with the Calvin Klein restructuring, primarily consisting of inventory markdowns and contract termination and other costs. Such costs were included in the Company’s segments as follows: $14.2 million in Calvin Klein North America and $14.9 million in Calvin Klein International.
[7]	Income before interest and taxes for the thirteen and twenty-six weeks ended August 4, 2019 included costs of $59.8 million in connection with agreements the Company entered into in the second quarter of 2019 to terminate early the licenses for the global Calvin Klein and Tommy Hilfiger North America socks and hosiery businesses in order to consolidate the socks and hosiery business for all Company brands in North America in a newly formed joint venture and to bring in-house the international Calvin Klein socks and hosiery businesses. Such costs were included in the Company’s segments as follows: $7.5 million in Tommy Hilfiger North America, $25.5 million in Calvin Klein North America and $26.8 million in Calvin Klein International.
[8]	(Loss) Income before interest and taxes for the twenty-six weeks ended August 2, 2020 included noncash impairment charges of $16.0 million related to the Company’s store assets. The $16.0 million of impairment charges were included in the Company’s segments as follows: $4.1 million in Tommy Hilfiger North America, $3.1 million in Tommy Hilfiger International, $3.2 million in Calvin Klein North America, $1.8 million in Calvin Klein International and $3.8 million in Heritage Brands Retail. Please see Note 12, “Fair Value Measurements,” for further discussion.
[9]	Loss before interest and taxes for the twenty-six weeks ended August 2, 2020 included noncash impairment charges of $933.5 million, primarily related to goodwill, tradenames and other intangible assets. The $933.5 million of impairment charges were included in the Company’s segments as follows: $289.9 million in Calvin Klein North America, $394.0 million in Calvin Klein International and $249.6 million in Heritage Brands Wholesale. Please see Note 7, “Goodwill and Other Intangible Assets,” for further discussion.
[10]	Income before interest and taxes for the twenty-six weeks ended August 4, 2019 included costs of $99.4 million incurred in connection with the Calvin Klein restructuring, primarily consisting of lease asset impairments and severance. Such costs were included in the Company’s segments as follows: $65.1 million in Calvin Klein North America and $34.3 million in Calvin Klein International. Please see Note 12, “Fair Value Measurements,” for further discussion of the lease asset impairments.
[11]	Income before interest and taxes for the thirteen and twenty-six weeks ended August 4, 2019 included costs of $4.8 million in connection with the Australia and TH CSAP acquisitions, primarily consisting of noncash valuation adjustments, and one-time costs of $2.1 million recorded on the Company’s equity investments in Gazal and PVH Australia prior to the Australia acquisition closing. Such costs were included in the Company’s segments as follows: $2.5 million in Tommy Hilfiger International, $1.5 million in Calvin Klein International, $0.4 million in Heritage Brands Wholesale and $2.5 million in corporate expenses not allocated to any reportable segments. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.
[12]	Income before interest and taxes for the twenty-six weeks ended August 4, 2019 included costs of $54.9 million incurred in connection with the TH U.S. store closures, primarily consisting of noncash lease asset impairments. Please see Note 12, “Fair Value Measurements,” for further discussion.
[13]	Loss before interest and taxes for the twenty-six weeks ended August 2, 2020 included a net noncash loss of $3.1 million in connection with the sale of the Speedo North America business in April 2020. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.
[14]	Loss before interest and taxes for the thirteen and twenty-six weeks ended August 2, 2020 included costs of $12.3 million in connection with the planned exit of the Heritage Brands Retail business, consisting of noncash asset impairments, severance and other costs. Please see Note 16, “Exit Activity Costs,” for further discussion.
[15]	Includes corporate expenses not allocated to any reportable segments and the Company’s proportionate share of the net income or loss of its investments in Gazal (prior to the Australia acquisition closing) and Karl Lagerfeld (prior to its impairment in the first quarter of 2020) and the results of PVH Ethiopia. Please see Note 6, “Investments in Unconsolidated Affiliates,” for further discussion of the Company’s investment in Karl Lagerfeld. Corporate expenses represent overhead operating expenses and include expenses for senior corporate management, corporate finance, information technology related to corporate infrastructure, certain digital investments, certain corporate responsibility initiatives, and actuarial gains and losses on the Company’s Pension Plans, SERP Plans and Postretirement Plans (which are generally recorded in the fourth quarter).
[16]	Income before interest and taxes for the thirteen and twenty-six weeks ended August 4, 2019 included a noncash gain of $113.1 million to write up the Company’s equity investments in Gazal and PVH Australia to fair value in connection with the Australia acquisition. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.
[17]	Loss before interest and taxes for the twenty-six weeks ended August 2, 2020 included a noncash impairment charge of $12.3 million related to the Company’s equity method investment in Karl Lagerfeld. Please see Note 6, “Investments in Unconsolidated Affiliates,” for further discussion.

Revenue by Distribution Channel (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Aug. 02, 2020

Aug. 04, 2019

Aug. 02, 2020

Aug. 04, 2019

^[1]

$ 1,580.7

^[2]

$ 2,364.2

$ 2,924.7

^[2]

$ 4,720.5

Net sales

1,531.2

2,249.0

2,788.4

4,486.3

Net sales | Wholesale

685.6

1,137.8

1,493.8

2,498.5

Net sales | Retail

845.6

1,111.2

1,294.6

1,987.8

Royalty revenue

Advertising and other revenue

37.0

85.8

106.0

175.2

$ 12.5

$ 29.4

$ 30.3

$ 59.0

[1]	Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[2]	Revenue was significantly negatively impacted by the COVID-19 pandemic, including as a result of temporary store closures and reduced traffic and consumer spending trends. The Company’s wholesale customers and licensing partners also experienced significant business disruptions as a result of the pandemic, resulting in a decrease in the Company’s revenue from these channels

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227