XML 30 R105.htm IDEA: XBRL DOCUMENT v3.20.1
SEGMENT DATA (Details) - USD ($)
$ in Thousands
12 Months Ended
May 31, 2019
Feb. 02, 2020
Feb. 03, 2019
Feb. 04, 2018
Segment Reporting Information [Line Items]        
Number of Reportable Segments   6    
Percentage of company's revenue by one single customer   10.00% 10.00% 10.00%
Revenue:        
Total revenue [1],[2]   $ 9,909,000 $ 9,656,800 $ 8,914,800
Earnings Before Interest and Taxes:        
Income (loss) before interest and taxes [3]   558,700 891,700 632,400
Settlement loss on retirement plans   0 0 (9,400)
Actuarial loss on retirement and benefit plans   (97,800) (15,000) (2,500)
Costs Related to Amendment of Mr. Tommy Hilfiger Employment Agreement       82,900
Amortization of Intangible Assets   39,700 62,800  
Debt modification and extinguishment costs   5,200 0 23,900
Tommy Hilfiger North America [Member]        
Revenue:        
Total revenue [1]   1,647,900 1,669,200 1,567,800
Earnings Before Interest and Taxes:        
Income (loss) before interest and taxes [3]   93,500 [4],[5] 233,800 97,000 [6],[7],[8]
Costs Related to Amendment of Mr. Tommy Hilfiger Employment Agreement       34,700
Tommy Hilfiger Office Relocation Expense       19,200
Tommy Hilfiger Store Closures   54,900    
Tommy Hilfiger International [Member]        
Revenue:        
Total revenue [1]   3,063,800 2,675,300 2,325,400
Earnings Before Interest and Taxes:        
Income (loss) before interest and taxes [3]   468,200 [9] 377,100 [10] 221,500 [6],[7],[10]
Costs Related to Amendment of Mr. Tommy Hilfiger Employment Agreement       48,200
Calvin Klein North America [Member]        
Revenue:        
Total revenue [1]   1,669,700 1,793,300 1,707,800
Earnings Before Interest and Taxes:        
Income (loss) before interest and taxes [3]   99,800 [5],[11] 166,700 [12] 184,000
Calvin Klein International [Member]        
Revenue:        
Total revenue [1]   1,998,100 1,937,900 1,753,800
Earnings Before Interest and Taxes:        
Income (loss) before interest and taxes [3]   153,300 [5],[9],[11] 211,500 [12] 226,500
Heritage Brands Wholesale [Member]        
Revenue:        
Total revenue [1]   1,271,900 1,317,400 1,297,400
Earnings Before Interest and Taxes:        
Income (loss) before interest and taxes [3]   (84,900) [9],[13] 83,300 96,700
Heritage Brands Retail [Member]        
Revenue:        
Total revenue [1]   257,600 263,700 262,600
Earnings Before Interest and Taxes:        
Income (loss) before interest and taxes [3]   3,000 7,400 7,600
Corporate [Member]        
Earnings Before Interest and Taxes:        
Income (loss) before interest and taxes [3],[14]   (174,200) [9],[15],[16] (188,100) (200,900) [17],[18]
Settlement loss on retirement plans       9,400
Actuarial loss on retirement and benefit plans   97,800 15,000 2,500
Debt modification and extinguishment costs   6,200   23,900
Li & Fung Trading Limited [Member]        
Earnings Before Interest and Taxes:        
Loss on Contract Termination       54,200
Li & Fung Trading Limited [Member] | Tommy Hilfiger North America [Member]        
Earnings Before Interest and Taxes:        
Loss on Contract Termination       31,300
Li & Fung Trading Limited [Member] | Tommy Hilfiger International [Member]        
Earnings Before Interest and Taxes:        
Loss on Contract Termination       22,900
Calvin Klein Restructuring [Member]        
Earnings Before Interest and Taxes:        
Restructuring and Related Cost, Incurred Cost   102,900 40,700  
Calvin Klein Restructuring [Member] | Calvin Klein North America [Member]        
Earnings Before Interest and Taxes:        
Restructuring and Related Cost, Incurred Cost   66,000 18,900  
Calvin Klein Restructuring [Member] | Calvin Klein International [Member]        
Earnings Before Interest and Taxes:        
Restructuring and Related Cost, Incurred Cost   36,900 21,800  
Australia and TH CSAP Acquisitions [Member]        
Earnings Before Interest and Taxes:        
Business Combination, Acquisition Related Costs   19,300    
Australia and TH CSAP Acquisitions [Member] | Tommy Hilfiger International [Member]        
Earnings Before Interest and Taxes:        
Business Combination, Acquisition Related Costs   11,100    
Australia and TH CSAP Acquisitions [Member] | Calvin Klein International [Member]        
Earnings Before Interest and Taxes:        
Business Combination, Acquisition Related Costs   6,000    
Australia and TH CSAP Acquisitions [Member] | Heritage Brands Wholesale [Member]        
Earnings Before Interest and Taxes:        
Business Combination, Acquisition Related Costs   1,800    
Australia and TH CSAP Acquisitions [Member] | Corporate [Member]        
Earnings Before Interest and Taxes:        
Business Combination, Acquisition Related Costs   2,500    
Australia Acquisition [Member]        
Earnings Before Interest and Taxes:        
Gain to write-up equity investments in joint ventures to fair value $ 113,100      
Australia Acquisition [Member] | Corporate [Member]        
Earnings Before Interest and Taxes:        
Gain to write-up equity investments in joint ventures to fair value   113,100    
Australia Acquisition [Member] | Gazal and PVH Australia [Member]        
Earnings Before Interest and Taxes:        
Business Combination, Costs Related to Equity Investment   2,100    
Tommy Hilfiger China Acquisition [Member] | Tommy Hilfiger International [Member]        
Earnings Before Interest and Taxes:        
Amortization of Intangible Assets     23,600 26,900
Socks and hosiery transaction [Member]        
Earnings Before Interest and Taxes:        
Loss on Contract Termination   59,800    
Socks and hosiery transaction [Member] | Tommy Hilfiger North America [Member]        
Earnings Before Interest and Taxes:        
Loss on Contract Termination   7,500    
Socks and hosiery transaction [Member] | Calvin Klein North America [Member]        
Earnings Before Interest and Taxes:        
Loss on Contract Termination   25,500    
Socks and hosiery transaction [Member] | Calvin Klein International [Member]        
Earnings Before Interest and Taxes:        
Loss on Contract Termination   26,800    
Net sales        
Revenue:        
Total revenue   9,400,000 9,154,200 8,439,400
Net sales | Tommy Hilfiger North America [Member]        
Revenue:        
Total revenue   1,540,200 1,574,300 1,482,200
Net sales | Tommy Hilfiger International [Member]        
Revenue:        
Total revenue   2,994,200 2,599,700 2,268,000
Net sales | Calvin Klein North America [Member]        
Revenue:        
Total revenue   1,467,000 1,599,900 1,511,300
Net sales | Calvin Klein International [Member]        
Revenue:        
Total revenue   1,896,700 1,827,900 1,645,000
Net sales | Heritage Brands Wholesale [Member]        
Revenue:        
Total revenue   1,248,500 1,293,200 1,274,400
Net sales | Heritage Brands Retail [Member]        
Revenue:        
Total revenue   253,400 259,200 258,500
Royalty revenue        
Revenue:        
Total revenue   379,900 375,900 366,300
Royalty revenue | Tommy Hilfiger North America [Member]        
Revenue:        
Total revenue   84,100 76,200 68,900
Royalty revenue | Tommy Hilfiger International [Member]        
Revenue:        
Total revenue   49,800 52,700 47,800
Royalty revenue | Calvin Klein North America [Member]        
Revenue:        
Total revenue   148,900 143,600 146,400
Royalty revenue | Calvin Klein International [Member]        
Revenue:        
Total revenue   74,100 78,900 80,000
Royalty revenue | Heritage Brands Wholesale [Member]        
Revenue:        
Total revenue   19,200 20,500 19,500
Royalty revenue | Heritage Brands Retail [Member]        
Revenue:        
Total revenue   3,800 4,000 3,700
Advertising and other revenue        
Revenue:        
Total revenue   129,100 126,700 109,100
Advertising and other revenue | Tommy Hilfiger North America [Member]        
Revenue:        
Total revenue   23,600 18,700 16,700
Advertising and other revenue | Tommy Hilfiger International [Member]        
Revenue:        
Total revenue   19,800 22,900 9,600
Advertising and other revenue | Calvin Klein North America [Member]        
Revenue:        
Total revenue   53,800 49,800 50,100
Advertising and other revenue | Calvin Klein International [Member]        
Revenue:        
Total revenue   27,300 31,100 28,800
Advertising and other revenue | Heritage Brands Wholesale [Member]        
Revenue:        
Total revenue   4,200 3,700 3,500
Advertising and other revenue | Heritage Brands Retail [Member]        
Revenue:        
Total revenue   400 $ 500 $ 400
Speedo Transaction [Member]        
Earnings Before Interest and Taxes:        
Noncash loss to write-down assets held for sale   $ 142,000    
[1]
Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[2]
No single customer accounted for more than 10% of the Company’s revenue in 2019, 2018 or 2017.
[3]
Income (loss) before interest and taxes was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[4]
Income before interest and taxes for 2019 included costs of $54.9 million incurred in connection with the TH U.S. store closures, primarily consisting of noncash lease asset impairments. Please see Note 12, “Fair Value Measurements,” for further discussion.
[5] Income before interest and taxes for 2019 included costs of $59.8 million in connection with agreements the Company entered into in 2019 to terminate early the licenses for the global Calvin Klein and Tommy Hilfiger North America socks and hosiery businesses (the “Socks and Hosiery transaction”) in order to consolidate the socks and hosiery businesses for all Company brands in North America in a newly formed joint venture, PVH Legwear, which began operations in December 2019, and to bring in-house the international Calvin Klein socks and hosiery wholesale businesses. Such costs were included in the Company’s segments as follows: $7.5 million in Tommy Hilfiger North America, $25.5 million in Calvin Klein North America and $26.8 million in Calvin Klein International
[6]
Income before interest and taxes for 2017 included costs of $54.2 million associated with the agreements to restructure the Company’s supply chain relationship with Li & Fung Trading Limited (“Li & Fung”), under which the Company terminated its non-exclusive buying agency agreement with Li & Fung in 2017 (the “Li & Fung termination”). Such costs were included in the Company’s segments as follows: $31.3 million in Tommy Hilfiger North America and $22.9 million in Tommy Hilfiger International.
[7]
Income before interest and taxes for 2017 included costs of $82.9 million incurred in connection with an amendment to Mr. Tommy Hilfiger’s employment agreement pursuant to which the Company made a cash buyout of a portion of the future payments to Mr. Hilfiger (the “Mr. Hilfiger amendment”). Such costs were included in the Company’s segments as follows: $34.7 million in Tommy Hilfiger North America and $48.2 million in Tommy Hilfiger International.
[8] Income before interest and taxes for 2017 included costs of $19.2 million associated with the relocation of the Tommy Hilfiger office in New York, including noncash depreciation expense
[9]
Income (loss) before interest and taxes for 2019 included costs of $19.3 million in connection with the Australia and TH CSAP acquisitions, primarily consisting of noncash valuation adjustments, and one-time costs of $2.1 million recorded on the Company’s equity investments in Gazal and PVH Australia prior to the Australia acquisition closing. Such costs were included in the Company’s segments as follows: $11.1 million in Tommy Hilfiger International, $6.0 million in Calvin Klein International, $1.8 million in Heritage Brands Wholesale and $2.5 million in corporate expenses not allocated to any reportable segments. Please see Note 3, “Acquisitions,” for further discussion.
[10] Income before interest and taxes for 2018 and 2017 included costs of $23.6 million and $26.9 million, respectively, associated with the TH China acquisition, primarily consisting of noncash amortization of short-lived assets.
[11]
Income before interest and taxes for 2019 included costs of $102.9 million incurred in connection with the Calvin Klein restructuring. Such costs were included in the Company’s segments as follows: $66.0 million in Calvin Klein North America and $36.9 million in Calvin Klein International. Please see Note 18, “Exit Activity Costs,” for further discussion.
[12] Income before interest and taxes for 2018 included costs of $40.7 million incurred in connection with the Calvin Klein restructuring. Such costs were included in the Company’s segments as follows: $18.9 million in Calvin Klein North America and $21.8 million in Calvin Klein International. Please see Note 18, “Exit Activity Costs,” for further discussion
[13]
Loss before interest and taxes for 2019 included a noncash loss of $142.0 million in connection with the Speedo transaction. Please see Note 4, “Assets Held For Sale,” for further discussion.
[14]
Includes corporate expenses not allocated to any reportable segments, the Company’s proportionate share of the net income or loss of its investments in Gazal (prior to the Australia acquisition closing) and Karl Lagerfeld, and the results of PVH Ethiopia. Corporate expenses represent overhead operating expenses and include expenses for senior corporate management, corporate finance, information technology related to corporate infrastructure, certain digital investments, certain corporate responsibility initiatives, actuarial gains and losses on the Company’s Pension Plans, SERP Plans and Postretirement Plans, and gains and losses from changes in the fair value of foreign currency option contracts. Actuarial losses on the Company’s Pension Plans, SERP Plans and Postretirement Plans totaled $97.8 million, $15.0 million and $2.5 million in 2019, 2018 and 2017, respectively.
[15]
Loss before interest and taxes for 2019 included a noncash gain of $113.1 million to write up the Company’s equity investments in Gazal and PVH Australia to fair value in connection with the Australia acquisition. Please see Note 3, “Acquisitions,” for further discussion.
[16]
Loss before interest and taxes for 2019 included costs of $6.2 million related to the refinancing of the Company’s senior credit facilities. Please see Note 9, “Debt,” for further discussion.
[17]
Loss before interest and taxes for 2017 included costs of $23.9 million related to the early redemption of the Company’s $700 million 4 1/2% senior notes due 2022. Please see Note 9, “Debt,” for further discussion.
[18]
Loss before interest and taxes for 2017 included costs of $9.4 million related to the noncash settlement of certain of the Company’s benefit obligations related to its Pension Plans as a result of an annuity purchased for certain participants, under which such obligations were transferred to an insurer. Please see Note 13, “Retirement and Benefit Plans,” for further discussion.