ACQUISITIONS	3 Months Ended
May. 01, 2016
Notes to Financial Statements [Abstract]
ACQUISITIONS	ACQUISITIONS Acquisition of TH China The Company acquired on April 13, 2016 the 55% interest in TH Asia, Ltd. (“TH China”), its joint venture for Tommy Hilfiger in China, that it did not already own. Prior to April 13, 2016, the Company’s existing 45% interest in TH China was accounted for under the equity method of accounting. Following the acquisition of the 55% interest, the results of TH China’s operations were consolidated in the Company’s consolidated financial statements. TH China began operating the Tommy Hilfiger wholesale and retail distribution businesses in China in 2011 and licensed from a subsidiary of the Company the Tommy Hilfiger trademarks for use in connection with these businesses. The carrying value of the Company’s existing 45% interest in TH China prior to the acquisition was $52.5 million. In connection with the acquisition, this investment was remeasured to a fair value of $205.6 million, resulting in the recognition of a pre-tax noncash gain of $153.1 million during the first quarter of 2016. Such fair value was estimated based on the fair value of TH China using future operating cash flow projections discounted at a rate of return that accounted for the relative risks of the estimated future cash flows and included an estimated discount for a lack of marketability. The acquisition date fair value of the consideration for the 55% interest that the Company did not already own was $266.1 million, consisting of $263.3 million paid in cash and the elimination of a $2.8 million pre-acquisition receivable owed to the Company by TH China, and is subject to future adjustment for a net working capital settlement. Together with the fair value of the Company’s existing 45% interest, the total fair value of TH China was $471.7 million. The estimated fair value of assets acquired and liabilities assumed included net assets of $98.6 million (including $105.3 million of cash acquired), $110.8 million of other intangible assets and $262.3 million of goodwill. The goodwill of $262.3 million was assigned to the Company’s Tommy Hilfiger International segment. Goodwill is not expected to be deductible for tax purposes. The other intangible assets of $110.8 million as of April 13, 2016 included reacquired license rights of $72.1 million, order backlog of $26.3 million and customer relationships of $12.4 million, which are subject to amortization on a straight-line basis over 2.7 years, 0.8 years and 10.0 years, respectively. The Company is still in the process of finalizing the valuation of the assets acquired and liabilities assumed; thus, the allocation of the acquisition consideration is subject to change.

ACQUISITIONS

3 Months Ended

May. 01, 2016

Notes to Financial Statements [Abstract]

Acquisition of TH China

The Company acquired on April 13, 2016 the 55% interest in TH Asia, Ltd. (“TH China”), its joint venture for Tommy Hilfiger in China, that it did not already own. Prior to April 13, 2016, the Company’s existing 45% interest in TH China was accounted for under the equity method of accounting. Following the acquisition of the 55% interest, the results of TH China’s operations were consolidated in the Company’s consolidated financial statements.

TH China began operating the Tommy Hilfiger wholesale and retail distribution businesses in China in 2011 and licensed from a subsidiary of the Company the Tommy Hilfiger trademarks for use in connection with these businesses.

The carrying value of the Company’s existing 45% interest in TH China prior to the acquisition was $52.5 million. In connection with the acquisition, this investment was remeasured to a fair value of $205.6 million, resulting in the recognition of a pre-tax noncash gain of $153.1 million during the first quarter of 2016. Such fair value was estimated based on the fair value of TH China using future operating cash flow projections discounted at a rate of return that accounted for the relative risks of the estimated future cash flows and included an estimated discount for a lack of marketability.

The acquisition date fair value of the consideration for the 55% interest that the Company did not already own was $266.1 million, consisting of $263.3 million paid in cash and the elimination of a $2.8 million pre-acquisition receivable owed to the Company by TH China, and is subject to future adjustment for a net working capital settlement. Together with the fair value of the Company’s existing 45% interest, the total fair value of TH China was $471.7 million. The estimated fair value of assets acquired and liabilities assumed included net assets of $98.6 million (including $105.3 million of cash acquired), $110.8 million of other intangible assets and $262.3 million of goodwill. The goodwill of $262.3 million was assigned to the Company’s Tommy Hilfiger International segment. Goodwill is not expected to be deductible for tax purposes.

The other intangible assets of $110.8 million as of April 13, 2016 included reacquired license rights of $72.1 million, order backlog of $26.3 million and customer relationships of $12.4 million, which are subject to amortization on a straight-line basis over 2.7 years, 0.8 years and 10.0 years, respectively. The Company is still in the process of finalizing the valuation of the assets acquired and liabilities assumed; thus, the allocation of the acquisition consideration is subject to change.