FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

May. 01, 2016

Fair Value Measurements, Nonrecurring [Table Text Block]

In connection with the Company’s acquisition of the 55% of TH China that it did not already own, the Company’s existing 45% interest in TH China was remeasured to a fair value of $205.6 million, resulting in the recognition of a pre-tax noncash gain of $153.1 million in the thirteen weeks ended May 1, 2016. The Company classifies this as a Level 3 measurement. Please see Note 3, “Acquisitions,” for a further discussion.

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

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:



(In millions)	5/1/16							1/31/16							5/3/15
	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	$	1.3	N/A		$	1.3	N/A	$	44.2	N/A		$	44.2	N/A	$	74.5	N/A		$	74.5
Interest rate contracts	N/A	—		N/A		—		N/A	—		N/A		—		N/A	0.5		N/A		0.5
Total Assets	N/A	$	1.3	N/A		$	1.3	N/A	$	44.2	N/A		$	44.2	N/A	$	75.0	N/A		$	75.0

Liabilities:
Foreign currency forward exchange contracts	N/A	$	34.6	N/A		$	34.6	N/A	$	1.8	N/A		$	1.8	N/A	$	8.4	N/A		$	8.4
Interest rate contracts	N/A	18.4		N/A		18.4		N/A	20.6		N/A		20.6		N/A	13.1		N/A		13.1
Contingent purchase price payments related to reacquisition of the perpetual rights to the Tommy Hilfiger trademarks in India	N/A	N/A		$	2.3	2.3		N/A	N/A		$	2.2	2.2		N/A	N/A		$	4.0	4.0
Total Liabilities	N/A	$	53.0	$	2.3	$	55.3	N/A	$	22.4	$	2.2	$	24.6	N/A	$	21.5	$	4.0	$	25.5

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table presents the change in the Level 3 contingent purchase price payment liability during the thirteen weeks ended May 1, 2016 and May 3, 2015:



(In millions)	Thirteen Weeks Ended
	5/1/16		5/3/15
Beginning Balance	$	2.2	$	4.0
Payments	—		—
Adjustments included in earnings	0.1		0.0
Ending Balance	$	2.3	$	4.0

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Table Text Block]

Additional information with respect to assumptions used to value the contingent purchase price payment liability as of May 1, 2016 is as follows:



Unobservable Inputs	Amount
Approximate compounded annual net sales growth rate	35.0	%
Approximate discount rate	15.0	%

A five percentage point increase or decrease in the discount rate would change the liability by approximately $0.1 million.

A five percentage point increase or decrease in the compounded annual net sales growth rate would change the liability by approximately $0.1 million.

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 as of May 1, 2016, January 31, 2016 and May 3, 2015 were as follows:



(In millions)	5/1/16				1/31/16				5/3/15
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value

Cash and cash equivalents	$	365.1	$	365.1	$	556.4	$	556.4	$	419.3	$	419.3
Short-term borrowings	41.0		41.0		25.9		25.9		10.6		10.6
Long-term debt (including portion classified as current)	3,118.3		3,188.1		3,168.3		3,190.5		3,462.1		3,501.1

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.