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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Jan. 31, 2021
Feb. 02, 2020
Feb. 03, 2019
Total revenue [1],[2] $ 7,132.6 [3] $ 9,909.0 $ 9,656.8
Cost of goods sold (exclusive of depreciation and amortization) 3,355.8 4,520.6 4,348.5
Gross profit 3,776.8 5,388.4 5,308.3
Selling, general and administrative expenses 3,983.2 4,715.2 4,432.8
Goodwill and other intangible asset impairments 933.5 0.0 0.0
Non-service related pension and postretirement (income) cost (75.9) 90.0 5.1
Debt modification and extinguishment costs 0.0 5.2 0.0
Other noncash loss, net 3.1 28.9 0.0
Equity in net (loss) income of unconsolidated affiliates (4.6) 9.6 21.3
(Loss) income before interest and taxes [4] (1,071.7) [5] 558.7 891.7
Interest expense 125.5 120.0 120.8
Interest income 4.2 5.3 4.7
(Loss) income before taxes (1,193.0) 444.0 775.6
Income tax (benefit) expense (55.5) 28.9 31.0
Net (loss) income (1,137.5) 415.1 744.6
Less: Net loss attributable to redeemable non-controlling interest (1.4) (2.2) (1.8)
Net (loss) income attributable to PVH Corp. $ (1,136.1) $ 417.3 $ 746.4
Basic net (loss) income per common share attributable to PVH Corp. $ (15.96) $ 5.63 $ 9.75
Diluted net (loss) income per common share attributable to PVH Corp. $ (15.96) $ 5.60 $ 9.65
Net sales      
Total revenue $ 6,798.7 $ 9,400.0 $ 9,154.2
Royalty revenue      
Total revenue 260.4 379.9 375.9
Advertising and other revenue      
Total revenue $ 73.5 $ 129.1 $ 126.7
[1] No single customer accounted for more than 10% of the Company’s revenue in 2020, 2019 or 2018.
[2] Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[3] Revenue was significantly negatively impacted by the COVID-19 pandemic, including as a result of reduced traffic and consumer spending trends, and temporary store closures during the year.
[4] (Loss) income 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.
[5] (Loss) income before interest and taxes was significantly negatively impacted by the COVID-19 pandemic, including as a result of the unprecedented material decline in revenue noted above. As well, (loss) income before interest and taxes in 2020 was significantly adversely impacted by $1.0 billion of noncash impairment charges related to goodwill, tradenames, other intangible assets, store assets and an equity method investment resulting from the significant adverse impacts of the COVID-19 pandemic on the Company’s business. Please see notes (5), (6) and (9) below for further discussion.