GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2011

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

Schedule of goodwill

        The following table presents, by segment and in total, changes in the carrying amount of goodwill for 2010 and 2011. With the addition of Kurt Geiger on June 2, 2011, we have redefined our reportable operating segments (see "Segment Information"). As a result, we have reallocated goodwill based on the current segment structure and have restated the goodwill by segment for all periods presented.

(In millions)		Domestic Wholesale Sportswear		Domestic Wholesale Jeanswear			Domestic Wholesale Footwear & Accessories			Domestic Retail			International Wholesale			International Retail			Total
Balance, January 1, 2010
Goodwill	$	40.1	$	519.2		$	813.2		$	120.6		$	-		$	-		$	1,493.1
Accumulated impairment losses		-		(519.2	)		(813.2	)		(120.6	)		-			-			(1,453.0	)
Net goodwill		40.1		-			-			-			-			-			40.1
Acquisition of Moda		6.6		-			-			-			-			-			6.6
Acquisition of SWH		-		-			46.6			-			68.5			-			115.1
Balance, December 31, 2010
Goodwill		46.7		519.2			859.8			120.6			68.5			-			1,614.8
Accumulated impairment losses		-		(519.2	)		(813.2	)		(120.6	)		-			-			(1,453.0	)
Net goodwill		46.7		-			46.6			-			68.5			-			161.8
Acquisition of Kurt Geiger		-		-			-			-			45.8			53.5			99.3
Foreign currency translation effects		-		-			-			-			(2.7	)		(3.1	)		(5.8	)
Balance, December 31, 2011
Goodwill		46.7		519.2			859.8			120.6			111.6			50.4			1,708.3
Accumulated impairment losses		-		(519.2	)		(813.2	)		(120.6	)		-			-			(1,453.0	)
Net goodwill	$	46.7	$	-		$	46.6		$	-		$	111.6		$	50.4		$	255.3

Components of other intangible assets

        The components of other intangible assets are as follows:

December 31,	2011				2010
(In millions)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets
License agreements	$	61.4	$	52.4	$	61.4	$	50.2
Customer relationships		146.3		8.3		28.1		1.9
Trademarks		17.1		1.6		17.0		0.8
Acquired order backlog		2.6		2.6		10.5		10.4
Acquired favorable leases		12.8		2.0		6.4		0.4
Covenants not to compete		3.8		1.4		3.8		0.5
		244.0		68.3		127.2		64.2
Indefinite-life trademarks		721.7		-		663.7		-
	$	965.7	$	68.3	$	790.9	$	64.2

Assumptions used to derive fair value estimates for goodwill and trademarks as part of annual impairment testing

        The cash flow models we use to estimate the fair values of our goodwill and trademarks involve several assumptions. Changes in these assumptions could materially impact our fair value estimates. Assumptions critical to our fair value estimates are: (i) discount rates used to derive the present value factors used in determining the fair value of the reporting units and trademarks; (ii) royalty rates used in our trademark valuations; (iii) projected revenue growth rates; and (iv) projected long-term growth rates used in the derivation of terminal year values. These and other assumptions are impacted by economic conditions and expectations of management and may change in the future based on period-specific facts and circumstances. The following table shows the assumptions we used to derive our fair value estimates as part of our annual impairment testing for 2011 and 2010.

	2011		2010
	Goodwill	Trademarks	Goodwill	Trademarks
Discount rates	11.0%	11.0%	13.5%	13.5%
Royalty rates	--	4.0% - 8.0%	--	4.0% - 7.0%
Weighted-average revenue growth rates	10.6%	5.6%	6.6%	4.4%
Long-term growth rates	3.0%	0% - 3.0%	3.0%	0% - 3.0%