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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2012
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 2011 and 2012.


(In millions)
 
Domestic Wholesale Sportswear
 
 
Domestic Wholesale Jeanswear
 
 
Domestic Wholesale Footwear & Accessories
 
 
Domestic Retail
 
 
International Wholesale
 
 
International Retail
 
 
Total
 
 
Balance, January 1, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
 
Acquisition of Brian Atwood
 
 
-
 
 
 
-
 
 
 
3.2
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
3.2
 
Impairment
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(47.6
)
 
 
(47.6
)
Foreign currency translation effects
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
1.9
 
 
 
2.5
 
 
 
4.4
 
 
Balance, December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill
 
 
46.7
 
 
 
519.2
 
 
 
863.0
 
 
 
120.6
 
 
 
113.5
 
 
 
52.7
 
 
 
1,715.7
 
Accumulated impairment losses
 
 
-
 
 
 
(519.2
)
 
 
(813.2
)
 
 
(120.6
)
 
 
-
 
 
 
(47.4
)
 
 
(1,500.4
)
Net goodwill
 
$
46.7
 
 
$
-
 
 
$
49.8
 
 
$
-
 
 
$
113.5
 
 
$
5.3
 
 
$
215.3
 
Components of finite-lived and indefinite-lived intangible assets
The components of other intangible assets are as follows:

December 31,
2012
2011
(In millions)
Gross
Carrying Amount
Accumulated Amortization
Gross
Carrying Amount
Accumulated Amortization
 
Amortized intangible assets
Customer relationships
$
151.6
$
24.4
$
146.3
$
8.3
License agreements
61.4
54.5
61.4
52.4
Trademarks
24.5
4.9
17.1
1.6
Acquired favorable leases
13.1
3.5
12.8
2.0
Covenants not to compete
3.8
2.1
3.8
1.4
Acquired order backlog
-
-
2.6
2.6
 
254.4
89.4
244.0
68.3
Indefinite-life trademarks
704.7
-
721.7
-
 
$
959.1
$
89.4
$
965.7
$
68.3
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 2012 and 2011.

 
2012
2011
 
Goodwill
Trademarks
Goodwill
Trademarks
Discount rates
12.0
%
12.0
%
11.0
%
11.0
%
Royalty rates
--
1.0% - 8.0
%
--
4.0% - 8.0
%
Weighted-average revenue growth rates
5.4
%
6.2
%
10.6
%
5.6
%
Long-term growth rates
3.0
%
0% - 3.0
%
3.0
%
0% - 3.0
%