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EXIT ACTIVITY COSTS | 12 Months Ended
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Feb. 03, 2019
EXIT ACTIVITY COSTS [Abstract] |
EXIT ACTIVITY COSTS | EXIT ACTIVITY COSTS Calvin Klein Restructuring Costs The Company announced on January 10, 2019 a restructuring in connection with strategic changes for its Calvin Klein business (the “Calvin Klein restructuring”). The strategic changes include (i) the closure of the CALVIN KLEIN 205 W39 NYC brand (formerly Calvin Klein Collection), (ii) the closure of the flagship store on Madison Avenue in New York, New York, (iii) the restructuring of the Calvin Klein creative and design teams globally, and (iv) the consolidation of operations for the men’s Calvin Klein Sportswear and Calvin Klein Jeans businesses. In connection with the Calvin Klein restructuring, the Company recorded pre-tax costs during 2018 and expects to incur total costs as follows:
(In millions) | Total Costs Expected to be Incurred |  | Costs Incurred During 2018
Severance, termination benefits and other employee costs | $ | 65.7 |  |  | $ | 27.3 |
Long-lived asset impairments | 55.0 |  | (1) | 6.9 |
Lease/contract termination and other costs | 45.0 |  |  | 4.3 |
Inventory markdowns | 5.0 |  |  | 2.2 |
Total | $ | 170.7 |  |  | $ | 40.7 |
(1) Includes the estimated impact of the closure of the flagship store on Madison Avenue in New York, New York, which will be accounted for as an asset impairment following the Company’s adoption of the new lease accounting guidance in the first quarter of 2019. Of the charges for severance, termination benefits and other employee costs, long-lived asset impairments and lease/contract termination and other costs incurred during 2018, $18.9 million relate to SG&A expenses of the Calvin Klein North America segment and $19.6 million relate to SG&A expenses of the Calvin Klein International segment. The charges for inventory markdowns incurred during 2018 were recorded in cost of goods sold of the Company’s Calvin Klein International segment. The Company expects to incur total costs of $170.7 million through the end of 2019 in connection with the restructuring activities, of which approximately $80 million is estimated to relate to the Calvin Klein North America segment and approximately $90 million is estimated to relate to the Calvin Klein International segment. Please see Note 20, “Segment Data,” for further discussion of the Company’s reportable segments. Please see Note 11, “Fair Value Measurements,” for further discussion of the long-lived asset impairments recorded during 2018. The liabilities at February 3, 2019 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheets and were as follows:
(In millions) | Liability at 2/4/18 |  | Costs Incurred During 2018 |  | Costs Paid During 2018 |  | Liability at 2/3/19
Severance, termination benefits and other employee costs | $ | — |  |  | $ | 27.3 |  |  | $ | 1.5 |  |  | $ | 25.8 |
Lease/contract termination and other costs | — |  |  | 4.3 |  |  | 2.0 |  |  | 2.3 |
Total | $ | — |  |  | $ | 31.6 |  |  | $ | 3.5 |  |  | $ | 28.1 |

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- Definition EXIT ACTIVITY COSTS [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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