NONCASH INVESTING AND FINANCING TRANSACTIONS

12 Months Ended

Feb. 02, 2020

Noncash Investing and Financing Transactions [Abstract]

NONCASH INVESTING AND FINANCING TRANSACTIONS

NONCASH INVESTING AND FINANCING TRANSACTIONS

Omitted from the Company’s Consolidated Statement of Cash Flows for 2019 were capital expenditures related to property, plant and equipment of $39.5 million, which will not be paid until 2020. The Company paid $43.7 million in cash during 2019 related to property, plant and equipment that was acquired in 2018. This amount was omitted from the Company’s Consolidated Statement of Cash Flows for 2018. The Company paid $41.9 million in cash during 2018 related to property, plant and equipment that was acquired in 2017. This amount was omitted from the Company’s Consolidated Statement of Cash Flows for 2017.

    The Company completed the Australia acquisition during 2019. Omitted from the Company’s Consolidated Statement of Cash Flows for 2019 was the following noncash acquisition consideration: (i) the issuance to key members of Gazal and PVH Australia management of approximately 6% of the outstanding shares in the subsidiary of the Company that holds 100% of the ownership interests in the Australia business, for which the Company recognized a $26.2 million liability on the date of the acquisition and (ii) the elimination of a $2.2 million pre-acquisition receivable owed to the Company by PVH Australia. In connection with the acquisition, the Company also remeasured its previously held equity investments in Gazal and PVH Australia to fair value, resulting in noncash increases of $23.6 million and $89.5 million, respectively, to these equity investment balances. Subsequent to the acquisition, the Company recorded a loss of $8.6 million during 2019 resulting from the remeasurement of the liability for the 6% interest issued to key members of Gazal and PVH Australia management to its redemption value as of February 2, 2020. The liability was $33.8 million as of February 2, 2020 based on exchange rates in effect on that date.

Omitted from acquisition of treasury shares in the Company’s Consolidated Statements of Cash Flows for 2019 and 2017 were $0.5 million and $1.5 million, respectively, of shares repurchased under the stock repurchase program for which the trades occurred but remained unsettled as of the end of the respective periods.

The Company recorded a loss of $1.7 million during 2019 to write-off previously capitalized debt issuance costs in connection with the refinancing of its senior credit facilities.     

Omitted from purchases of property, plant and equipment in the Company’s Consolidated Statements of Cash Flows for 2018 and 2017 were $6.0 million and $3.6 million, respectively, of assets acquired through finance leases. Please see Note 17, “Leases,” for supplemental noncash transactions information related to finance leases during 2019.

The Company completed the acquisition of the Geoffrey Beene tradename during 2018. Omitted from acquisitions, net of cash acquired in the Company’s Consolidated Statement of Cash Flows for 2018 was $0.7 million of acquisition consideration related to royalties prepaid to Geoffrey Beene by the Company under the prior license agreement and $0.4 million of liabilities assumed by the Company.

The Company recorded a loss of $8.1 million during 2017 to write-off previously capitalized debt issuance costs in connection with the early redemption of its 4 1/2% senior notes due 2022.