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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jan. 30, 2022
Jan. 31, 2021
Current Assets:    
Cash and cash equivalents $ 1,242.5 $ 1,651.4
Trade receivables, net of allowances for credit losses of $61.9 and $69.6 745.2 641.5
Other receivables 20.1 25.1
Inventories, net 1,348.5 1,417.1
Prepaid expenses 169.0 158.2
Other 128.4 50.4
Total Current Assets 3,653.7 3,943.7
Property, Plant and Equipment, net [1] 906.1 942.7 [2]
Operating Lease, Right-of-Use Assets 1,349.0 1,564.8
Goodwill 2,828.9 2,954.3
Tradenames 2,722.9 2,869.7
Other Intangibles, net 584.1 648.5
Other Assets, including deferred taxes of $46.1 and $57.2 352.1 369.8
Total Assets [3] 12,396.8 13,293.5 [4]
Current Liabilities:    
Accounts payable 1,220.8 1,124.2
Accrued expenses 1,100.8 939.9
Deferred revenue 44.9 55.8
Current portion of operating lease liabilities 375.4 421.4
Short-term borrowings 10.8 0.0
Current portion of long-term debt 34.8 41.1
Total Current Liabilities 2,787.5 2,582.4
Long-Term Portion of Operating Lease Liabilities 1,214.4 1,430.7
Long-Term Debt 2,317.6 3,513.7
Other Liabilities, including deferred taxes of $373.9 and $418.4 788.5 1,039.8
Redeemable Non-Controlling Interest 0.0 (3.4)
Stockholders' Equity:    
Preferred stock, par value $100 per share; 150,000 total shares authorized 0.0 0.0
Common stock, par value $1 per share; 240,000,000 shares authorized; 87,107,155 and 86,293,158 shares issued 87.1 86.3
Additional paid in capital - common stock 3,198.4 3,129.4
Retained earnings 4,562.8 3,613.2
Accumulated other comprehensive loss (612.7) (519.1)
Less: 18,572,482 and 15,133,663 shares of common stock held in treasury, at cost (1,946.8) (1,579.5)
Total Stockholders' Equity 5,288.8 4,730.3
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity $ 12,396.8 $ 13,293.5
[1] Property, plant and equipment, net included the impact of changes in foreign currency exchange rates.
[2] Property, plant and equipment with a carrying amount of $56.4 million was written down to a fair value of $2.7 million during 2020 primarily as a result of the adverse impacts of the COVID-19 pandemic on the financial performance of certain of the Company’s retail stores and the shift in consumer buying trends from brick and mortar retail stores to digital channels. Please see Note 11, “Fair Value Measurements,” for a further discussion.
[3] Identifiable assets included the impact of changes in foreign currency exchange rates.
[4] Identifiable assets in 2020 were significantly negatively 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 Note 11, “Fair Value Measurements,” for further discussion.