XML 41 R32.htm IDEA: XBRL DOCUMENT
v3.20.1

RETIREMENT AND BENEFIT PLANS (Tables) | 3 Months Ended
--- | ---
May 03, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Schedule of Net Benefit Costs [Table Text Block] | The components of net benefit cost recognized were as follows:
| Pension Plans |  |  |  |  |  |  |  | SERP Plans |  |
| Thirteen Weeks Ended |  |  |  |  |  |  |  | Thirteen Weeks Ended |  |
(In millions) | 5/3/20 |  | 5/5/19 |  |  |  |  |  | 5/3/20 |  | 5/5/19
Service cost | $ | 11.1 |  |  | $ | 8.2 |  |  |  |  |  |  | $ | 1.9 |  |  | 1.5 |
Interest cost | 6.4 |  |  | 6.9 |  |  |  |  |  |  | 0.9 |  |  | 1.0 |
Expected return on plan assets | (10.9) |  |  | (10.1) |  |  |  |  |  |  | — |  |  | — |
Speedo deconsolidation gain | (2.2) |  |  | — |  |  |  |  |  |  | (0.6) |  |  | — |
Total | $ | 4.4 |  |  | $ | 5.0 |  |  |  |  |  |  | $ | 2.2 |  |  | $ | 2.5 |
The Company completed the sale of its Speedo North America business to Pentland on April 6, 2020. Upon the closing of the transaction, U.S.-based employees who were engaged primarily in the Speedo North America business terminated their employment with the Company. However, the Company retained the liability for any deferred vested benefits earned under its retirement plans. No further benefits will be accrued under the plans and as a result, the Company recognized a gain of $2.8 million in the first quarter of 2020 with a corresponding decrease to its pension benefit obligation. The gain was included in other noncash loss, net in the Company’s Consolidated Statement of Operations. Please see Note 4, “Acquisitions and Divestitures,” for further discussion of the sale of the Speedo North America business. The Company also provides certain postretirement health care and life insurance benefits to certain retirees resident in the United States. As a result of the Company’s acquisition of The Warnaco Group, Inc. (“Warnaco”), the Company also provides certain postretirement health care and life insurance benefits to certain Warnaco retirees resident in the United States. Retirees contribute to the cost of the applicable plan, both of which are unfunded and frozen. The Company refers to these two plans as its “Postretirement Plans.” Net benefit cost related to the Postretirement Plans was immaterial for the thirteen weeks ended May 3, 2020 and May 5, 2019.

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration