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OTHER COMMENTS | 12 Months Ended
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Feb. 03, 2019
Other Comments [Abstract] |
OTHER COMMENTS | OTHER COMMENTS Included in accrued expenses in the Company’s Consolidated Balance Sheets were certain incentive compensation accruals of $99.4 million and $108.9 million as of February 3, 2019 and February 4, 2018, respectively. The Company’s asset retirement liabilities are included in other liabilities in the Company’s Consolidated Balance Sheets and relate to the Company’s obligation to dismantle or remove leasehold improvements from leased office, retail store or warehouse locations at the end of a lease term in order to restore a facility to a condition specified in the lease agreement. The Company records the fair value of the liability for asset retirement obligations in the period in which it is legally or contractually incurred. Upon initial recognition of the asset retirement liability, an asset retirement cost is capitalized by increasing the carrying amount of the asset by the same amount as the liability. In periods subsequent to initial measurement, the asset retirement cost is recognized as expense through depreciation over the asset’s useful life. Changes in the liability for the asset retirement obligations are recognized for the passage of time and revisions to either the timing or the amount of estimated cash flows. Accretion expense is recognized in SG&A expenses for the impacts of increasing the discounted fair value to its estimated settlement value. The following table presents the activity related to the Company’s asset retirement liabilities, included in other liabilities in the Company’s Consolidated Balance Sheets, for each of the last two years:
(In millions) | 2018 |  | 2017
Balance at beginning of year | $ | 27.1 |  |  | $ | 21.8 |
Liabilities incurred | 7.4 |  |  | 4.1 |
Liabilities settled (payments) | (1.7 | ) |  | (1.0 | )
Accretion expense | 0.4 |  |  | 0.5 |
Revisions in estimated cash flows | (0.1 | ) |  | 0.3 |
Currency translation adjustment | (0.8 | ) |  | 1.4 |
Balance at end of year | $ | 32.3 |  |  | $ | 27.1 |
The Company is a party to certain litigation which, in management’s judgment, based in part on the opinions of legal counsel, will not have a material adverse effect on the Company’s financial position. Wuxi Jinmao Foreign Trade Co., Ltd. (“Wuxi”), one of the Company’s finished goods inventory suppliers, has a wholly owned subsidiary with which the Company entered into a loan agreement in 2016. Under the agreement, Wuxi’s subsidiary borrowed a principal amount of $13.8 million for the development and operation of a fabric mill. Principal payments are due in semi-annual installments beginning March 31, 2018 through September 30, 2026. The outstanding principal balance of the loan bears interest at a rate of (i) 4.50% per annum until the sixth anniversary of the closing date of the loan and (ii) LIBOR plus 4.00% thereafter. The Company received principal payments of $0.2 million during 2018. The outstanding balance, including accrued interest, was $13.8 million and $14.0 million as of February 3, 2019 and February 4, 2018, respectively, and was included in other assets in the Company’s Consolidated Balance Sheets. One of the Company’s European subsidiaries completed the sale of a building during 2016 for €15.0 million (approximately $16.7 million based on the exchange rate in effect on that date) and recorded a gain of $1.5 million, which represented the excess of the proceeds, less costs to sell, over the carrying value on that date. The gain was recorded in SG&A expenses in the Company’s Consolidated Income Statement during 2016 and was included in the Calvin Klein International segment.

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