INCOME TAXES (Tables)

12 Months Ended

Jan. 29, 2017

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The domestic and foreign components of income (loss) before provision for income taxes were as follows:



(In millions)	2016		2015		2014
Domestic	$	60.9	$	117.5	$	(103.4	)
Foreign	613.3		530.0		494.8
Total	$	674.2	$	647.5	$	391.4

Domestic income (loss) before provision for income taxes included an actuarial gain (loss) related to the Company’s United States retirement plans of $39.1 million, $20.2 million and $(138.9) million in 2016, 2015 and 2014, respectively.

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision (benefit) for income taxes attributable to income consisted of the following:



(In millions)	2016			2015			2014
Federal:
Current	$	(2.7	)	$	6.8		$	(35.4	)
Deferred	(9.3		)	(4.1		)	(54.8		)
State and local:
Current	(2.4		)	6.4			3.4
Deferred	(0.9		)	(22.2		)	(4.3		)
Foreign:
Current	129.3			70.6			15.5
Deferred	11.5			17.6			28.1
Total	$	125.5		$	75.1		$	(47.5	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The provision (benefit) for income taxes for the years 2016, 2015 and 2014 was different from the amount computed by applying the statutory United States federal income tax rate to the underlying income as follows:



	2016		2015		2014
Statutory federal tax rate	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal income tax benefit	0.4	%	(1.3	)%	(1.1	)%
Effects of international jurisdictions, including foreign tax credits	(12.9	)%	(15.0	)%	(23.3	)%
Change in estimates for uncertain tax positions	(3.7	)%	(7.6	)%	(24.0	)%
Change in valuation allowance	(0.1	)%	(0.2	)%	1.1	%
Other, net	(0.1	)%	0.7	%	0.2	%
Effective tax rate	18.6	%	11.6	%	(12.1	)%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of deferred income tax assets and liabilities were as follows:



(In millions)	2016			2015
Gross deferred tax assets
Tax loss and credit carryforwards	$	248.1		$	240.1
Employee compensation and benefits	88.7			135.3
Inventories	27.2			24.0
Accounts receivable	26.6			28.5
Accrued expenses	31.7			31.6
Other, net	0.0			37.1
Subtotal	422.3			496.6
Valuation allowances	(43.9		)	(43.8		)
Total gross deferred tax assets, net of valuation allowances	$	378.4		$	452.8
Gross deferred tax liabilities
Intangibles	$	(1,157.0	)	$	(1,199.2	)
Property, plant and equipment	(67.6		)	(77.8		)
Other, net	(14.1		)	—
Total gross deferred tax liabilities	$	(1,238.7	)	$	(1,277.0	)
Net deferred tax liability	$	(860.3	)	$	(824.2	)

Summary of Income Tax Contingencies [Table Text Block]

Uncertain tax positions activity for each of the last three years was as follows:



(In millions)	2016			2015			2014
Balance at beginning of year	$	226.8		$	244.5		$	485.7
Increases related to prior year tax positions	2.8			4.3			16.8
Decreases related to prior year tax positions	(9.9		)	(12.5		)	(239.3		)
Increases related to current year tax positions	52.0			40.0			38.2
Lapses in statute of limitations	(24.4		)	(44.6		)	(36.3		)
Effects of foreign currency translation	(1.7		)	(4.9		)	(20.6		)
Balance at end of year	$	245.6		$	226.8		$	244.5

In 2014, the Company resolved for $179.0 million an uncertain tax position related to European and United States transfer pricing arrangements, for which it had previously recorded a liability of approximately $185.0 million.

The entire amount of uncertain tax positions as of January 29, 2017, if recognized, would reduce the future effective tax rate under current accounting provisions.