<SEC-DOCUMENT>0000078239-18-000022.txt : 20180629
<SEC-HEADER>0000078239-18-000022.hdr.sgml : 20180629
<ACCEPTANCE-DATETIME>20180629130230
ACCESSION NUMBER:		0000078239-18-000022
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171231
FILED AS OF DATE:		20180629
DATE AS OF CHANGE:		20180629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PVH CORP. /DE/
		CENTRAL INDEX KEY:			0000078239
		STANDARD INDUSTRIAL CLASSIFICATION:	MEN'S & BOYS' FURNISHINGS, WORK CLOTHING, AND ALLIED GARMENTS [2320]
		IRS NUMBER:				131166910
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07572
		FILM NUMBER:		18928426

	BUSINESS ADDRESS:	
		STREET 1:		200 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		2123813500

	MAIL ADDRESS:	
		STREET 1:		200 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILLIPS VAN HEUSEN CORP /DE/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>11-K
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<FILENAME>2017elevenkaip.htm
<DESCRIPTION>2017 11-K AIP FILING
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<div style="MARGIN-BOTTOM: 24pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt">SECURITIES AND EXCHANGE COMMISSION<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> WASHINGTON, DC 20549</div>

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<div style="MARGIN-BOTTOM: 24pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt">FORM 11-K</div>

<div style="MARGIN-BOTTOM: 84pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt">ANNUAL REPORT<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font>PURSUANT TO SECTION 15(d) OF THE<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> SECURITIES EXCHANGE ACT OF 1934</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">(Mark One):</div>

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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the fiscal year ended </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><u>&#160;&#160; December 31, 2017</u></font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 468pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font></div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">For the transition period from __________ to __________</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Full title of the plan and the address of the plan, if different from that of the issuer named below:&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>PVH Corp. Associates Investment Plan</u></font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>PVH Corp., 200 Madison Avenue, New York, New York 10016</u></font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; TEXT-INDENT: 0.9pt">PVH CORP.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; TEXT-INDENT: 0.9pt">ASSOCIATES INVESTMENT PLAN</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Date:&#160; June 29, 2018</div>
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<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">By&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>&#160;&#160;&#160; </u></font></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>/s/ Dana Perlman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 26.1pt">Dana Perlman</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 26.1pt">Member of Plan Committee</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">ANNUAL REPORT ON FORM 11-K ITEM 4</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">PVH ASSOCIATES INVESTMENT PLAN</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">FINANCIAL STATEMENTS</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">December 31, 2017 and 2016</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">PVH ASSOCIATES INVESTMENT PLAN</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">December 31, 2017 and 2016</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Report of Independent Registered Public Accounting Firm<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 12pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
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</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 13.5pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font>Schedule H, Line 4i--Schedule of Assets (Held at End of Year) </div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: center">Report of Independent Registered Public Accounting Firm</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Administrative Committee of the Plan</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">PVH Associates Investment Plan</div>

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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 6pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">Opinion on the Financial Statements</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">We have audited the accompanying statements of net assets available for plan benefits of the PVH Associates Investment Plan (the "Plan") as of December&#160;31, 2017 and 2016, the related statements of changes in net assets available for plan benefits for the year ended December 31, 2017, and the related notes (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for plan benefits of the Plan as of December&#160;31, 2017 and 2016, and the changes in net assets available for plan benefits for the ended December 31, 2017, in conformity with U.S. generally accepted accounting principles.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The supplemental information in the accompanying Schedule H, line 4i - schedule of assets (held at end of year) as of December&#160;31, 2017, has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department </div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.</div>

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<div>/s/ Spielman, Koenigsberg &amp; Parker, LLP</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">We have served as the Plan's auditor since 2005.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">PVH ASSOCIATES INVESTMENT PLAN</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">December 31, 2017 and 2016</div>

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<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2017</div>
</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2016</div>
</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Assets</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Cash</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">$&#160; &#160; &#160; 1,667,001&#160;</div>
</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">$&#160; &#160; &#160; &#160; 293,330&#160;</div>
</td>
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<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Participant-directed investments, at fair value</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">639,665,360&#160;</div>
</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">523,765,020&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Receivables:</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 13.1pt">Notes from participants</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">10,455,157&#160;</div>
</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">10,568,080&#160;</div>
</td>
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<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 13.1pt">Contributions, employer</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>
</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">371,931&#160;</div>
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<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 13.1pt">Contributions, employee</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160; &#160; &#160;&#160; </font>&#160;</div>
</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;830,988&#160;</div>
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<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 26.6pt">Total receivables</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;10,455,157</font>&#160;</div>
</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;11,770,999</font>&#160;</div>
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<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
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<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 26.6pt; TEXT-INDENT: 18pt">Net assets available for benefits</div>
</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$&#160; 651,787,518</font>&#160;</div>
</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 4.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$ 535,829,349</font>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.43%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 19.15%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">The accompanying notes are an integral</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">part of these financial statements.</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal">3</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">PVH ASSOCIATES INVESTMENT PLAN</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">For the Year Ended December 31, 2017</div>

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<table id="za52af10d1d83497b909fd17839412722" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Additions</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Investment income:</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
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<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">&#160;&#160;&#160;&#160;&#160;&#160;Net appreciation of investments</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$&#160; 87,326,838&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;&#160;Dividend income</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;20,735,824</font>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 26.6pt">&#160;&#160;&#160;Total investment income</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">108,062,662&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Interest income on notes receivable from participants</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">476,386&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Contributions:</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
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<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt">&#160;&#160;&#160;Employer, net of forfeitures</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">13,335,314&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt">&#160;&#160;&#160;Participants</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">32,902,637&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt">&#160;&#160;&#160;Rollovers</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,163,567</font>&#160;</div>
</td>
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<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 35.6pt">Total contributions</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">50,401,518&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 35.6pt">Total additions</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">158,940,566&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Deductions</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Payments to participants</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">42,210,323&#160;</div>
</td>
</tr>

<tr style="HEIGHT: 19px">
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Administrative expenses</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;772,074&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.62%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: 27pt">Total deductions</div>
</td>
<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">42,982,397&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Net increase in net assets available for benefits</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">115,958,169&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Net assets available for benefits at beginning of year</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;535,829,349</font>&#160;</div>
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<td style="WIDTH: 18.38%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Net assets available for benefits at end of year</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$ 651,787,518</font>&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">The accompanying notes are an integral</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">part of these financial statements.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">NOTES TO FINANCIAL STATEMENTS</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">For the Years Ended December 31, 2017 and 2016</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The following description of the PVH Associates Investment Plan (the "Plan") provides only general information.&#160; Participants should refer to the Plan Document for a more complete description of the Plan's provisions.&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Trustee and Recordkeeper</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The Plan's trustee is Charles Schwab Bank (the "Trustee").&#160; The Plan's recordkeeper is Milliman, Inc. On October 1, 2018 the Plan will switch its recordkeeper and trustee services from Milliman, Inc. and Charles Schwab Bank to Empower Retirement and Great-West Trust Company, respectively.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">General</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The Plan is a defined contribution plan covering salaried or hourly clerical, warehouse, distribution, and United States retail field employees of PVH Corp. (the "Company") who are at least age 21 or older, have completed the earlier of; at least three consecutive months of service and are regularly scheduled to work at least 20 hours per week; or have completed at least 1,000 hours of service during the first 12 months of employment or in any subsequent calendar year.&#160; The Plan is subject to the reporting and disclosure requirements of the Employee Retirement Income Security Act of 1974 ("ERISA").</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Contributions</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Participants may contribute up to 25% of pre-tax annual compensation, as defined by the Plan, limited to $18,000 per annum for the 2017 and 2016 plan years.&#160; In addition, eligible participants who have attained the age of 50 before the close of the plan year are eligible to make catch-up contributions up to $6,000 for the 2017 and 2016 plan years.&#160; The Company matches 100% of the first 1% of eligible compensation that a participant contributes to the Plan, plus 50% of the next 5% of eligible compensation contributed by the participant.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Participant Accounts</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Each participant's account is credited with the participant's contributions and allocations of (a) the Company's contributions and (b) Plan earnings.&#160; Forfeited balances of terminated participants' nonvested accounts are used to reduce future Company contributions.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">NOTES TO FINANCIAL STATEMENTS</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Vesting</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Amounts attributable to participant contributions and the allocated earnings thereon are immediately vested.&#160; All participants become 100% vested in Company contributions and the allocated earnings thereon after two years of service.&#160; Upon death, permanent disability, or reaching age 65, participants or their beneficiaries become 100% vested in Company contributions.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Investment Options</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Upon enrollment in the Plan, a participant may direct employee or Company contributions into any one of the 25 individual investment options.&#160; A participant may contribute a maximum of 25% of contributions in PVH Corp. common stock.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Notes Receivable from Participants</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Participants may borrow from the Plan, with certain restrictions, using their vested account balance as collateral.&#160; The minimum loan amount is $1,000 and the maximum loan amount is the lesser of (i) $50,000 reduced by the participant's highest outstanding loan balance during the previous 12 months, or (ii) 50% of the vested value of the participant's account. Interest is fixed for the term of the loan at the prime rate plus 1%. Loan repayments are made through payroll deductions, which may be specified for a term of 1 to 5 years or up to 15 years for the purchase of a primary residence.&#160; Upon termination of employment, a participant is given 90 days to repay the loan in full or to establish loan repayments through an ACH debit origination before it is considered to be in default. Delinquent loans are considered to be distributions based on the terms of the Plan document.&#160; Notes receivable from participants are measured as the unpaid principal balance plus any accrued but unpaid interest.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">At December 31, 2017, outstanding notes receivable from participants totaled $10,455,157, with maturity dates through 2032 at interest rates ranging from 4.25% to 9.25%.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Forfeitures</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Company contributions made on behalf of non-vested or partially vested employees who have terminated are retained by the Plan and are used to reduce the Company's future matching contributions.&#160; In 2017 and 2016, forfeitures of $916,553 and $383,151, respectively, were used by the Plan to reduce the Company's matching contributions.&#160; At December 31, 2017 and 2016, cumulative forfeited non-vested accounts totaled $178,743 and $769,247, respectively.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Payment of Benefits</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Participants electing final distributions will receive payment in the form of a lump sum amount or installment payments equal to the value of their vested account unless the participant notifies the Company of their intent to receive all or a portion of their investment balance in PVH Corp. common stock in the form of shares.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Plan Termination</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Basis of Accounting</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The accompanying financial statements of the Plan were prepared using the accrual basis of accounting.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Use of Estimates</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires the Plan administrator to make estimates and assumptions that affect the reported amounts of assets and liabilities therein, and disclosures of contingent assets and liabilities. Accordingly, actual results may differ from those estimates.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Administrative Expenses</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">In general, costs and expenses of administering the Plan are paid and absorbed by the Plan or the Plan Sponsor. The Plan's administrative expenses may be paid for through offsets and/or payments associated with one or more of the Plan's investment options. Investment management or related fees associated with certain investment fund options are paid by participants.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Investments</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Investments are recorded in the accompanying financial statements at fair value.&#160; Purchases and sales of securities are reflected on a settlement date basis.&#160; All assets of the Plan are held by the Trustee and are segregated from the assets of the Company.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Certain amounts from 2016 financial statements have been reclassified in order to conform with 2017 presentation.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Recent Accounting Guidance</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">In May 2015, the FASB issued ASU 2015-07, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)</font>, which amends ASC 820, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Fair Value Measurement</font>.&#160; Under this standard, for entities that measure investments using the net asset value (NAV) practical expedient, the requirement to categorize these investments in the fair value hierarchy table is eliminated and instead, the fair values of these investments should be presented as reconciling items between the financial statement amounts and the totals reported in the fair value table.&#160; Additionally, certain disclosures are no longer required for investments that are eligible for the practical expedient but are not measured that way.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The ASU proposal should be applied retrospectively and is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years.&#160; The Plan adopted this standard as of December 31, 2016 and accordingly, the presentation of the fair value measurements note herein has been changed to reflect such adoption.</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">3.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Party-In-Interest Transactions</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">During the year ended December 31, 2017, the Plan purchased 24,502 and sold 45,630 shares of the Company's common stock and received $65,763 during 2017 from the Company as payment of dividends on its common stock.&#160; During the year ended December 31, 2016, the Plan purchased 31,119 and sold 58,540 shares of the Company's common stock and received $69,707 from the Company as payment of dividends on its common stock.&#160;&#160; Certain legal and accounting fees, and administrative expenses relating to the maintenance of participant eligibility records are paid by the company participating in the plan, and accordingly, are not included in the financial statements of the Plan.</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">4.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Fair Value Measurements</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The FASB defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date.&#160; The guidance establishes a three level fair value hierarchy that prioritizes the inputs used to measure fair value.&#160; The three levels of the hierarchy are defined as follows:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Level 1 &#8211; Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Plan has the ability to access at the measurement date.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">NOTES TO FINANCIAL STATEMENTS</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Level 2 &#8211; Observable inputs other than quoted prices included in Level 1, including quoted prices for identical assets or liabilities in inactive markets, quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability, and inputs derived principally from or corroborated by observable market data.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Level 3 &#8211; Unobservable inputs reflecting the Plan's own assumptions about the inputs that market participants would use in pricing the asset or liability based on the best information available.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The following tables set forth the financial assets of the Plan by level within the fair value hierarchy, as of December 31, 2017 and 2016:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">&#160;</div>

<table id="zd62e9e074a66448dbf435b7140a7fde5" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 16px">
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 48.18%; VERTICAL-ALIGN: bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Fair Value Measurements at</div>
</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="BORDER-TOP-COLOR: ; WIDTH: 35.25%; VERTICAL-ALIGN: bottom; BORDER-LEFT-COLOR: ; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; WIDTH: 2.7%; VERTICAL-ALIGN: bottom; BORDER-LEFT-COLOR: ; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; WIDTH: 12.81%; VERTICAL-ALIGN: top; BORDER-LEFT-COLOR: ; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ">&#160;</td>
<td style="BORDER-TOP-COLOR: ; WIDTH: 48.18%; VERTICAL-ALIGN: bottom; BORDER-LEFT-COLOR: ; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: " colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">December 31, 2017</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Asset Category</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Total</div>
</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 14.95%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Quoted Prices</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">In Active</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Markets for</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Identical Assets</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Level 1)</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 12.59%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Significant</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Observable</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Inputs</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Level 2)</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 13.49%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Significant</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Unobservable</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Inputs</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Level 3)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;Mutual funds<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$ 547,677,054&#160;</div>
</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$ 547,677,054&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$&#160; &#160; &#160; &#160; -&#160; &#160; &#160; &#160; &#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$&#160; &#160; &#160; &#160;&#160; -&#160; &#160; &#160;&#160; &#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">PVH Corp. common stock<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;58,150,421</font>&#160;</div>
</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;58,150,421</font>&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160; &#160; &#160; &#160; </font>&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160; &#160; &#160;&#160; </font>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Total investments measured at fair value</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$ 605,827,475</font>&#160;</div>
</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$ 605,827,475</font>&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$&#160; &#160; &#160; &#160; -&#160; &#160; &#160; &#160; </font>&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$&#160; &#160; &#160; &#160; -&#160; &#160; &#160;&#160; </font>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common collective trust fund measured at</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">net asset value<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(3)</sup></div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$&#160;&#160; 33,837,885</font>&#160;</div>
</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Total participant-directed investments</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$ 639,665,360</font>&#160;</div>
</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.81%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.95%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal">9</font></div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">PVH ASSOCIATES INVESTMENT PLAN</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">NOTES TO FINANCIAL STATEMENTS</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<table id="z89bbb9db37144f128aad79cbfd8646bb" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 13px">
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 48.56%; VERTICAL-ALIGN: bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Fair Value Measurements at</div>
</td>
</tr>

<tr style="HEIGHT: 18px">
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-COLOR: ">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-COLOR: ">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ">&#160;</td>
<td style="WIDTH: 48.56%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-COLOR: " colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">December 31, 2016</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Asset Category</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Total</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 14.39%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Quoted Prices</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">In Active</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Markets for</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Identical Assets</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Level 1)</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 12.59%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Significant</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Observable</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Inputs</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Level 2)</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 13.49%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Significant</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Unobservable</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Inputs</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Level 3)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;Mutual funds<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$ 425,017,918</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$ 425,017,918&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">&#160;&#160;$&#160; &#160; &#160; &#160;&#160; -&#160; &#160; &#160;&#160; &#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$&#160; &#160; &#160; &#160;&#160; -&#160; &#160; &#160;&#160; &#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">PVH Corp. common stock<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">&#160;&#160;&#160;&#160;40,817,447</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;40,817,447</font>&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160; &#160; &#160;&#160; </font>&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160; &#160; &#160;&#160; </font>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Total investments measured at fair value</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$ 465,835,365</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$ 465,835,365</font>&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$&#160; &#160; &#160; &#160; -&#160; &#160; &#160;&#160; </font>&#160;</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$&#160; &#160; &#160; &#160; -&#160; &#160; &#160;&#160; </font>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Common collective trust fund measured at</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">&#160;&#160;&#160;&#160;&#160;net asset value<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(3)</sup></div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$&#160;&#160; 57,929,655</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Total participant-directed investments</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$ 523,765,020</div>
</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 35.25%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14.39%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.59%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 2.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.49%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table id="z296d8f9addc64b3e877064c1bc8dea78" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; TEXT-ALIGN: center; align: right"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">&#160;(1)</sup></td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Valued at the net asset value of the fund(s), as determined by the closing price in the active market in which the individual fund is traded.</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table id="z7d6e6392161346dcb09e299a282bc77a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; TEXT-ALIGN: center; align: right"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">&#160;</sup>Valued at the closing price of PVH Corp. common stock as determined by the closing price in the active market in which the securities are traded.</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table id="ze8cebfc5da5e4ebb83080927025275ba" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; TEXT-ALIGN: center; align: right"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(3)</sup></td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Valued at the net asset value of the fund, as determined by the fund family.&#160; The Plan has no unfunded commitments related to this common collective trust fund.&#160; This fund invests in guarantee contracts and instruments and is redeemable on a daily basis without restriction.</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">5.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Investment Contract with Insurance Company</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Through November, 2016, the Plan had a fully benefit-responsive GIC with MetLife Insurance Company ("MetLife"). MetLife maintained the contributions in a general account, which was credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses.&#160; Contract value represents contributions made under the contract, plus earnings, less participant withdrawals and administrative expenses. Participants could ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value.</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal">10</font></div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">PVH ASSOCIATES INVESTMENT PLAN</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">NOTES TO FINANCIAL STATEMENTS</div>

<div><br>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 36pt">Limitations on the Ability of the GIC to Transact at Contract Value</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The GIC was liquidated in November 2016.&#160; Prior to its liquidation, certain events could have limited the ability of the Plan to transact at contract value with MetLife. Such events included (1) premature termination of the contracts by the Plan; (2) amendments to the Plan documents (including complete or partial Plan termination or merger with another plan); (3) plant closings and layoffs; (4) bankruptcy of the Plan sponsor or other Plan sponsor events (for example, divestitures or spin-offs of a subsidiary) that cause a significant withdrawal from the Plan; (5) early retirement incentives or (6) the failure of the Plan to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">6.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Risks and Uncertainties</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The Plan invests in various investment securities.&#160; Investment securities are exposed to various risks such as interest rate, market and credit risks.&#160; Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants' account balances and the amount reported in the Statements of Net Assets Available for Benefits.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">7.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Income Tax Status</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The IRS has determined and informed the Company by a letter dated May 24, 2012, that the Plan and related trust are designed in accordance with the applicable sections of the Internal Revenue Code ("IRC") and, therefore, the related trust is exempt from taxation.&#160; Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification.&#160; The Plan Administrator believes that the Plan is currently designed and is currently being operated in compliance with the applicable requirements of the IRC and therefore believes that the Plan is qualified and the related trust is tax-exempt.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">8.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Reconciliation of Financial Statements to Form 5500</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 at December 31, 2017 and 2016:</div>

<div><br>
</div>

<table id="z6b84626d928f4fd39f90f77b4b15ae07" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 18px">
<td style="WIDTH: 59.61%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 3.9%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.67%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2017</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 16.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 12.95pt; TEXT-INDENT: -12.95pt">2016</div>
</td>
</tr>

<tr>
<td style="WIDTH: 59.61%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">&#160;Net Assets available for benefits per the financial statements</div>
</td>
<td style="WIDTH: 3.9%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 17.67%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt">$651,787,518&#160;</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.86%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt">$535,829,349&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 59.61%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">Amounts allocated to withdrawing participants</div>
</td>
<td style="WIDTH: 3.9%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 17.67%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(85,297</font>)</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;(142,258</font>)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 59.61%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 3.9%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 17.67%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.86%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 59.61%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">Net assets available for benefits per the Form 5500</div>
</td>
<td style="WIDTH: 3.9%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 17.67%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$651,702,221</font>&#160;</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$535,687,091</font>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 59.61%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 3.9%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 17.67%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.86%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 59.61%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 3.9%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 17.67%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.86%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal">11</font></div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">PVH ASSOCIATES INVESTMENT PLAN</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">NOTES TO FINANCIAL STATEMENTS</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500 for the year ended December 31, 2017:</div>

<table id="z5f164c7fb0014fc4bbe721aba84745d6" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 81.38%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.66%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 12.95pt; TEXT-INDENT: -12.95pt">2017</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.38%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.66%; VERTICAL-ALIGN: middle">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.38%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">Benefits paid to participants per the financial statements</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.66%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt">$42,210,323&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.38%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">Add: Amounts allocated to withdrawing participants at</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.66%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.38%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">&#160;&#160;December 31, 2017</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.66%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt">85,297&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.38%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">Less: Amount allocated to withdrawing participants at</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.66%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 81.38%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">&#160;&#160;December 31, 2016</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.66%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;142,258</font>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 81.38%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 12.95pt; TEXT-INDENT: 0.55pt">Benefits paid to participants per the Form 5500</div>
</td>
<td style="WIDTH: 1.96%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 16.66%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-RIGHT: 8.1pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$42,153,362</font>&#160;</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, 2017, but not yet paid as of that date.</div>

<div><br>
</div>

<div><br>
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal">12</font></div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

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</div>

<div><br>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center"><br>
</div>

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</div>

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</div>

<div><br>
</div>

<div><br>
</div>

<div>&#160;</div>

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<div><br>
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<div><br>
</div>

<div><br>
 &#160;</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SUPPLEMENTAL SCHEDULE</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal"></font>&#160;</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">EIN: 13-1166910</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">Plan No: 007</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">PVH ASSOCIATES INVESTMENT PLAN</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">SCHEDULE H, LINE 4i--SCHEDULE OF ASSETS (HELD AT END OF YEAR)</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">December 31, 2017</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">
<table id="z4b1e4be3a9434f91a74a22036f143393" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 4.5pt">(c)</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 159px; VERTICAL-ALIGN: top" colspan="2">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 4.5pt">(b)</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 12.6pt">Description of investment</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 159px; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 4.5pt">(e)</div>
</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 4.5pt">(a)</div>
</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 4.5pt">Identity of issuer, borrower,</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 12.6pt">including maturity date, rate of</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(d)</div>
</td>
<td style="WIDTH: 159px; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 4.5pt">Current</div>
</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 4.5pt">lessor or similar party</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 12.6pt">interest, collateral, par or maturity value</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Cost</div>
</td>
<td style="WIDTH: 159px; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-RIGHT: 4.5pt">value</div>
</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 159px; VERTICAL-ALIGN: top" colspan="2">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">American Beacon Funds</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">American Beacon Large Cap Value Fund;</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">883,120.232 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$&#160; 23,923,727</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Dimensional Fund Advisors</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">DFA U.S. Targeted Value Portfolio</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">Institutional; 807,658.070 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">20,102,609</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">American Funds</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Europacific Growth Fund R5; 473,537.659 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">26,560,727</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Fidelity Funds</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Fidelity Balanced Fund; 2,162,602.791 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">51,318,564</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Metropolitan West</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Metropolitan West Total Return Bond M</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">Fund; 1,735,433.170 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">18,499,718</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">T. Rowe Price</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">T. Rowe Price Blue Chip Growth; 424,452.527 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">40,879,023</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Extended Market Index; 6,012.210 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">509,595</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard&#160; Institutional Index Fund; 229,411.631</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">55,852,556</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Institutional Target Retirement income;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">37,091.849 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">797,475</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2015; 444,582.834 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">9,776,377</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2020; 1,080,679.601 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">24,347,711</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2025; 1,470,229.794 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">33,609,453</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2030; 2,181,375.011 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">50,433,390</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2035; 1,761,099.752 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">41,156,901</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2040; 1,454,891.121 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">34,364,528</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2045; 1,402,268.713 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">33,373,995</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2050; 942,190.704 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">22,442,983</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2055; 607,174.539 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">14,487,185</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2060; 91,108.090 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">2,173,839</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Target Retirement 2065; 1,692.329 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">36,757</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard&#160; Total Bond Market Index</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">Institutional; 677,330.822 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">7,281,306</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">The Vanguard Group</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Vanguard Total International Stock Index</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">Institutional; 67,361.541 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">8,220,129</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Wells Fargo Funds</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Wells Fargo Stable Value Class U; 667,150.732 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">33,837,885</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">William Blair Funds</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">William Blair Mid Cap Growth I; 1,124,530.451</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">27,528,506</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">*</div>
</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">PVH Corp.</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">PVH Corp. Common Stock; 423,806 shares</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">&#160;&#160;&#160;&#160;58,150,421</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Total investments</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 4px double">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$639,665,360</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">*</div>
</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Notes receivable from</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt">Participant notes receivable maturing at</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;&#160;participants</div>
</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">various dates through 2032 and bearing</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 17.75%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 141px; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 47.51%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 4.5pt; TEXT-INDENT: 9pt">interest at rates from 4.25% to 9.25%</div>
</td>
<td style="WIDTH: 10.47%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">**</div>
</td>
<td style="WIDTH: 10.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">$&#160; 10,455,157</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 37px; VERTICAL-ALIGN: top">&#160;</td>
</tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 27pt">* Party-in-interest</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">** Cost information is not required for participant-directed investments and therefore is not included.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">* Party-in-interest</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">** Cost information is not required for participant-directed investments and therefore is not included.</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal">14</font></div>

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<div style="TEXT-ALIGN: left"><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 4.3pt"><u>EXHIBIT INDEX</u></div>

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<table id="z828ee7ed2b4e4c9fa52f7883317ee9d1" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<div style="TEXT-ALIGN: justify"><u style="BORDER-BOTTOM: 1px solid">Exhibit No.</u></div>
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<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="2">&#160;</td>
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<td style="WIDTH: 5.07%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 13.5pt">23.1</div>
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<td style="WIDTH: 94.93%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"><a href="exhibit231consentofauditors.htm">Consent of Independent Auditors</a></div>
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<div><br>
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<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal">15</font></div>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>exhibit231consentofauditors.htm
<DESCRIPTION>EXHIBIT 23.1 CONSENT OF AUDITORS AIP
<TEXT>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><u>Exhibit 23.1</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Consent of Independent Registered Public Accounting Firm</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 333-158327) pertaining to the PVH Associates Investment Plan of our report dated June 25, 2018, with respect to the financial statements of the PVH Associates Investment Plan included in this Annual Report (Form 11-K) for the year ended December 31, 2017.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ SPIELMAN KOENIGSBERG &amp; PARKER, LLP</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SPIELMAN KOENIGSBERG &amp; PARKER, LLP</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">June 25, 2018</div>

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