XML 49 R38.htm IDEA: XBRL DOCUMENT v3.21.2
DEBT (Tables)
 6 Months Ended
Aug. 01, 2021
Schedule of Interest Rate Swap Agreements [Line Items]  
Schedule of Interest Rate Swap Agreements [Table Text Block]
The Company entered into interest rate swap agreements designed with the intended effect of converting notional amounts of its variable rate debt obligation to fixed rate debt. Under the terms of the agreements, for the outstanding notional amount, the Company’s exposure to fluctuations in the one-month London interbank offered rate (“LIBOR”) is eliminated and the Company pays a fixed rate plus the current applicable margin. The following interest rate swap agreements were entered into or in effect during the twenty-six weeks ended August 1, 2021 and/or August 2, 2020:

(In millions)
Designation DateCommencement DateInitial Notional Amount Notional Amount Outstanding as of August 1, 2021Fixed RateExpiration Date
March 2020February 2021$50.0 $50.0 0.562%February 2023
February 2020February 202150.0 50.0 1.1625%February 2023
February 2020February 202050.0 50.0 1.2575%February 2023
August 2019February 202050.0 50.0 1.1975%February 2022
June 2019February 202050.0 50.0 1.409%February 2022
June 2019June 201950.0 — 1.719%July 2021
January 2019February 202050.0 — 2.4187%February 2021
November 2018February 2019139.2 — 2.8645%February 2021
October 2018February 2019115.7 — 2.9975%February 2021
June 2018August 201850.0 — 2.6825%February 2021
June 2017February 2018306.5 — 1.566%February 2020
Schedule of Long-term Debt Instruments [Table Text Block]
Long-Term Debt

The carrying amounts of the Company’s long-term debt were as follows:
(In millions)8/1/211/31/218/2/20
Senior unsecured Term Loan A facilities due 2024 (1)(2)
$891.2 $1,608.6 $1,601.0 
7 3/4% debentures due 202399.8 99.8 99.7 
3 5/8% senior unsecured euro notes due 2024 (2)
619.2 631.0 615.2 
4 5/8% senior unsecured notes due 2025495.1 494.5 493.9 
3 1/8% senior unsecured euro notes due 2027 (2)
706.9 720.9 703.3 
Total2,812.2 3,554.8 3,513.1 
Less: Current portion of long-term debt29.7 41.1 14.8 
Long-term debt$2,782.5 $3,513.7 $3,498.3 

(1) The outstanding principal balance for the United States dollar-denominated Term Loan A facility and the euro-denominated Term Loan A facility was $329.6 million and €475.0 million, respectively, as of August 1, 2021.

(2) The carrying amount of the euro-denominated Term Loan A facility and the senior unsecured euro notes includes the impact of changes in the exchange rate of the United States dollar against the euro.
Schedule of Mandatory Long-Term Debt Repayments [Table]
The Company’s mandatory long-term debt repayments for the remainder of 2021 through 2026 were as follows as of August 1, 2021:
(In millions)
Fiscal Year
Amount (1)
Remainder of 2021$14.9 
202237.2 
2023144.6 
20241,422.1 
2025500.0 
2026— 

(1) A portion of the Company’s mandatory long-term debt repayments is denominated in euros and subject to changes in the exchange rate of the United States dollar against the euro.

Total debt repayments for the remainder of 2021 through 2026 exceed the total carrying amount of the Company’s Term Loan A facilities, 7 3/4% debentures due 2023, 3 5/8% senior euro notes due 2024 and 4 5/8% senior notes due 2025 as of August 1, 2021 because the carrying amount reflects the unamortized portions of debt issuance costs and the original issue discounts.