FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jul. 30, 2023

Fair Value Measurements [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company’s financial assets and liabilities that are required to be remeasured at fair value on a recurring basis:

	7/30/23							1/29/23							7/31/22
(In millions)	Level 1		Level 2		Level 3	Total		Level 1		Level 2		Level 3	Total		Level 1		Level 2		Level 3	Total
Assets:
Foreign currency forward exchange contracts	N/A		$	6.9	N/A	$	6.9	N/A		$	15.8	N/A	$	15.8	N/A		$	93.7	N/A	$	93.7
Rabbi trust assets	9.4		N/A		N/A	9.4		7.2		N/A		N/A	7.2		5.1		N/A		N/A	5.1
Total Assets	$	9.4	$	6.9	N/A	$	16.3	$	7.2	$	15.8	N/A	$	23.0	$	5.1	$	93.7	N/A	$	98.8
Liabilities:
Foreign currency forward exchange contracts	N/A		$	27.5	N/A	$	27.5	N/A		$	35.4	N/A	$	35.4	N/A		$	2.7	N/A	$	2.7
Total Liabilities	N/A		$	27.5	N/A	$	27.5	N/A		$	35.4	N/A	$	35.4	N/A		$	2.7	N/A	$	2.7

Fair Value Measurements, Nonrecurring [Table Text Block]

Operating lease right-of-use assets with a carrying amount of $26.4 million and property, plant and equipment with a carrying amount of $17.2 million were written down to a fair value of zero during the twenty-six weeks ended July 31, 2022 in

connection with the Company’s decision in the second quarter of 2022 to exit from its Russia business. Please see Note 14, “Exit Activity Costs,” for further discussion of the Russia business exit costs. Fair value of the Company’s operating lease right-of-use assets and property, plant and equipment were determined to be zero in line with the Company’s estimated future cash flows for the Russia business asset group.

The $43.6 million of impairment charges during the twenty-six weeks ended July 31, 2022 were included in SG&A expenses in the Company’s Consolidated Statement of Operations and recorded to the Company’s segments as follows: $33.7 million in the Tommy Hilfiger International segment and $9.9 million in the Calvin Klein International segment.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying amounts and the fair values of the Company’s cash and cash equivalents, short-term borrowings and long-term debt were as follows:

	7/30/23				1/29/23				7/31/22
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	372.8	$	372.8	$	550.7	$	550.7	$	699.3	$	699.3
Short-term borrowings	15.2		15.2		46.2		46.2		12.2		12.2
Long-term debt (including portion classified as current)	2,308.5		2,262.2		2,288.9		2,262.3		2,193.7		2,210.9

The fair values of cash and cash equivalents and short-term borrowings approximate their carrying amounts due to the short-term nature of these instruments. The Company estimates the fair value of its long-term debt using quoted market prices as of the last business day of the applicable quarter. The Company classifies the measurement of its long-term debt as a Level 1 measurement. The carrying amounts of long-term debt reflect the unamortized portions of debt issuance costs and the original issue discounts.