ACQUISITIONS (Tables)

9 Months Ended

Nov. 03, 2013

Acquisition consideration [Table Text Block]

The acquisition date fair value of the acquisition consideration paid at closing totaled $3,137,056, which consisted of the following:



Cash	$	2,179,980
Common stock (7,674 shares, par value $1.00 per share)	926,452
Warnaco employee replacement stock awards	39,752
Elimination of pre-acquisition liability to Warnaco	(9,128		)
Total fair value of the acquisition consideration	$	3,137,056

The fair value of the 7,674 common shares issued was equal to the aggregate value of the shares at the closing market price of the Company’s common stock on February 12, 2013, the day prior to the closing. The value of the replacement stock awards was determined by multiplying the estimated fair value of the Warnaco awards outstanding at the time of the acquisition, reduced by an estimated value of awards to be forfeited, by the proportionate amount of the vesting period that had lapsed as of the acquisition date. Also included in the acquisition consideration was the elimination of a $9,128 pre-acquisition liability to Warnaco.

Business acquisition, pro forma information [Table Text Block]

The following table presents the Company’s pro forma consolidated results of operations for the thirteen and thirty-nine weeks ended November 3, 2013 and October 28, 2012, as if the acquisition and the related financing transactions had occurred on January 30, 2012 (the first day of its fiscal year ended February 3, 2013) instead of on February 13, 2013. The pro forma results were calculated applying the Company’s accounting policies and reflect (i) the impact on revenue, cost of goods sold and selling, general and administrative expenses resulting from the elimination of intercompany transactions; (ii) the impact on depreciation and amortization expense based on fair value adjustments to Warnaco’s property, plant and equipment and intangible assets recorded in connection with the acquisition; (iii) the impact on interest expense resulting from changes to the Company’s capital structure in connection with the acquisition; (iv) the impact on cost of goods sold resulting from acquisition date adjustments to the fair value of inventory; (v) the elimination of transaction costs related to the acquisition that were included in the Company’s results of operations for the thirteen and thirty-nine weeks ended November 3, 2013 and October 28, 2012; and (vi) the tax effects of the above adjustments. The pro forma results do not include any anticipated cost synergies or other effects of the planned integration of Warnaco. Accordingly, such pro forma amounts are not indicative of the results that actually would have occurred had the acquisition been completed on January 30, 2012, nor are they indicative of the future operating results of the combined company.



	Pro Forma				Pro Forma
	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	11/3/13		10/28/12		11/3/13		10/28/12
Total revenue	$	2,259,125	$	2,142,800	$	6,197,162	$	5,886,639
Net income attributable to PVH Corp.	300,119		181,370		450,067		261,787

Business combination, allocation of the acquisition consideration [Table Text Block]

The following table summarizes the estimated fair values of the assets acquired and liabilities and redeemable non-controlling interest assumed at the date of acquisition:



Cash and cash equivalents	$	364,651
Trade receivables	291,644
Other receivables	42,894
Inventories	446,591
Prepaid expenses	39,210
Other current assets	56,649
Property, plant and equipment	127,059
Goodwill	1,481,375
Tradenames	604,600
Perpetual license rights	207,600
Other intangibles	823,300
Other assets	161,393
Total assets acquired	4,646,966
Accounts payable	179,931
Accrued expenses	262,570
Short-term borrowings	26,927
Current portion of long-term debt	2,000
Long-term debt	195,000
Other liabilities	837,882
Total liabilities assumed	1,504,310
Redeemable non-controlling interest	5,600
Total fair value of acquisition consideration	$	3,137,056

The Company is still in the process of valuing the assets acquired and liabilities and redeemable non-controlling interest assumed; thus, the allocation of the acquisition consideration is subject to change.