RETIREMENT AND BENEFIT PLANS

9 Months Ended

Oct. 30, 2011

Notes to Financial Statements [Abstract]

RETIREMENT AND BENEFIT PLANS

RETIREMENT AND BENEFIT PLANS

The Company has five noncontributory defined benefit pension plans covering substantially all employees resident in the United States who meet certain age and service requirements. For those vested (after five years of service), the plans provide monthly benefits upon retirement based on career compensation and years of credited service. The Company also has for certain of such employees an unfunded non-qualified supplemental defined benefit pension plan, which 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 six plans as its “pension plans.”

As a result of the Company’s acquisition of Tommy Hilfiger, the Company also has for certain members of Tommy Hilfiger’s domestic senior management a supplemental executive retirement plan (“SERP Plan”), which is an unfunded non-qualified supplemental defined benefit pension plan. Such plan is frozen and, as a result, participants do not accrue additional benefits.

In addition to the defined benefit pension plans described above, the Company has a capital accumulation program (“CAP Plan”), which is an unfunded non-qualified supplemental defined benefit plan covering four current and 16 retired executives. Under the individual participants’ CAP Plan agreements, the participants will receive a predetermined amount during the 10 years following the attainment of age 65, provided that prior to the termination of employment with the Company, the participant has been in the CAP Plan for at least 10 years and has attained age 55.

The Company also provides certain postretirement health care and life insurance benefits to certain retirees resident in the United States. Retirees contribute to the cost of this plan, which is unfunded. During 2002, the postretirement plan was amended to eliminate benefits for active participants who, as of January 1, 2003, had not attained age 55 and 10 years of service.

Net benefit cost related to the Company’s pension plans was recognized as follows:

	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
	10/30/11			10/31/10			10/30/11			10/31/10
Service cost, including plan expenses	$	3,632		$	2,379		$	10,896		$	7,137
Interest cost	4,796			4,461			14,387			13,383
Amortization of net loss	2,310			1,895			6,930			5,685
Expected return on plan assets	(5,531		)	(4,993		)	(16,592		)	(14,978		)
Amortization of prior service credit	(15		)	(15		)	(46		)	(46		)
Total	$	5,192		$	3,727		$	15,575		$	11,181

Net benefit cost related to the Company’s CAP Plan and SERP Plan was recognized as follows:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	10/30/11		10/31/10		10/30/11		10/31/10
Service cost, including plan expenses	$	25	$	23	$	74	$	68
Interest cost	453		463		1,358		1,159
Total	$	478	$	486	$	1,432	$	1,227

Net benefit cost related to the Company’s postretirement plan was recognized as follows:

	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
	10/30/11			10/31/10			10/30/11			10/31/10
Interest cost	$	255		$	273		$	764		$	818
Amortization of net loss	6			—			20			—
Amortization of prior service credit	(204		)	(204		)	(613		)	(613		)
Total	$	57		$	69		$	171		$	205