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ACQUISITIONS AND INTANGIBLES | 12 Months Ended
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Jan. 31, 2015
Business Combinations [Abstract] |
ACQUISITIONS AND INTANGIBLES | NOTE D — ACQUISITIONS AND INTANGIBLES Acquisition of Vilebrequin In August 2012, the Company acquired all of the outstanding shares of Vilebrequin for an aggregate consideration consisting of  $87.6 million in cash, $18.6 million of unsecured promissory notes and a contingent consideration of up to $27.9 million. Identifiable intangible assets acquired include trademarks valued at $58.7 million with an indefinite life, franchise agreements valued at $7.5 million with an estimated useful life of 14 years and customer relationships valued at $2.6 million with an estimated useful life of 8 years and goodwill of  $26.8 million. The goodwill represents the future economic benefits expected to arise that could not be individually identified and separately recognized, including use of the Company’s existing infrastructure to expand sales of Vilebrequin products. The dollar equivalents to the amounts in Euro set forth in this paragraph are based on the exchange rate on the date of acquisition (€1.000 equal to USD $1.242). The unsecured promissory notes were repurchased in October 2014 and the contingent consideration was adjusted to approximately $1.0 million in fiscal 2015 (See Note L – Other Income). Acquisition of G.H. Bass In November, 2013, the Company entered into an asset purchase agreement, with PVH Retail Stores LLC and its affiliates, providing for the acquisition of substantially all of the assets of the G.H. Bass & Co. (“G.H. Bass”) business, including approximately 160 G.H. Bass & Co. outlet stores. The purchase price was $49.2 million in cash. G.H. Bass is a well-known heritage brand that embodies classic American style. The Company sells G.H. Bass & Co. footwear, apparel and accessories primarily through approximately 160 outlet stores located in the United States. The Company also licenses the brand for the wholesale distribution of men’s and women’s footwear and men’s sportswear. The following table (in thousands) summarizes the components of the purchase price allocation for the acquisition of G.H. Bass:
Purchase price: |  |  |  |
Cash paid |  | $ | 49,236 |
|  | $ | 49,236 |
Allocation: |  |  |  |
Current assets |  | $ | 42,967 |
Property, plant and equipment |  |  | 2,788 |
Identifiable intangible assets — Trademarks |  |  | 2,490 |
Other non-current assets, net |  |  | 975 |
Assumed liabilities |  |  | (700 | )
Goodwill |  |  | 716 |
|  | $ | 49,236 |
The trademarks were assigned an indefinite useful life. Goodwill represents the future economic benefits arising from net assets acquired that are not individually identified and separately recognized and is attributable to synergies expected to be derived from the combination of G.H. Bass with the other businesses of the retail operations segment. Intangible assets balances Intangible assets consist of:
|  |  |  | January 31, |
|  | Estimated Life |  | 2015 |  |  | 2014 |
|  |  |  | (In thousands) |
Gross carrying amounts |  |  |  |  |  |  |  |  |  |
Licenses |  | 14 years |  | $ | 19,819 |  |  | $ | 20,779 |
Trademarks |  | 8  –  12 years |  |  | 2,194 |  |  |  | 2,194 |
Customer relationships |  | 8  –  15 years |  |  | 8,408 |  |  |  | 8,741 |
Other |  | 3  –  10 years |  |  | 4,844 |  |  |  | 2,912 |
Subtotal |  |  |  |  | 35,265 |  |  |  | 34,626 |
Accumulated amortization |  |  |  |  |  |  |  |  |  |
Licenses |  |  |  |  | 13,815 |  |  |  | 13,394 |
Trademarks |  |  |  |  | 2,036 |  |  |  | 1,816 |
Customer relationships |  |  |  |  | 4,291 |  |  |  | 3,696 |
Other |  |  |  |  | 1,890 |  |  |  | 1,415 |
Subtotal |  |  |  |  | 22,032 |  |  |  | 20,321 |
Net |  |  |  |  |  |  |  |  |  |
Licenses |  |  |  |  | 6,004 |  |  |  | 7,385 |
Trademarks |  |  |  |  | 158 |  |  |  | 378 |
Customer relationships |  |  |  |  | 4,117 |  |  |  | 5,045 |
Other |  |  |  |  | 2,954 |  |  |  | 1497 |
Subtotal |  |  |  |  | 13,233 |  |  |  | 14,305 |
Unamortized intangible assets |  |  |  |  |  |  |  |  |  |
Goodwill |  |  |  |  | 52,130 |  |  |  | 55,604 |
Trademarks |  |  |  |  | 73,097 |  |  |  | 80,707 |
Subtotal |  |  |  |  | 125,227 |  |  |  | 136,311 |
Total intangible assets, net |  |  |  | $ | 138,460 |  |  | $ | 150,616 |
Intangible amortization expense amounted to approximately $2.0 million, $1.6 million and $1.2 million for the years ended January 31, 2015, 2014 and 2013, respectively. The estimated intangible amortization expense for the next five years is as follows:
Year Ending January 31, |  | Amortization Expense |
|  | (In thousands) |
2016 |  | $ | 1,874 |
2017 |  |  | 1,831 |
2018 |  |  | 1,803 |
2019 |  |  | 1,783 |
2020 |  |  | 1,777 |
Goodwill represents the excess of the purchase price and related costs over the value assigned to net tangible and identifiable intangible assets of businesses acquired and accounted for under the purchase method. The Company reviews and tests its goodwill and intangible assets with indefinite lives for impairment at least annually, or more frequently if events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company performs the test in the fourth fiscal quarter of each year using a combination of a discounted cash flow analysis and a market approach. The discounted cash flow approach requires that certain assumptions and estimates be made regarding industry economic factors and future profitability. The market approach estimates the fair value based on comparisons with the market values and market multiples of earnings and revenues of similar public companies. Trademarks and customer relationships having finite lives are amortized over their estimated useful lives and measured for impairment when events or circumstances indicate that the carrying value may be impaired. Goodwill has been allocated to the reporting segments based upon the relative fair values of the licenses (licensed products segment) and trademarks acquired. For the year ended January 31, 2015, the carrying amount of goodwill was $26.1 million, $25.3 million and $716,000 in the licensed products, non-licensed products and retail operations segments, respectively, including $3.5 million in exchange differences arising during the period. For the year ended January 31, 2014, the carrying amount of goodwill was $26.1 million, $28.8 million and $716,000 in the licensed products, non-licensed products and retail operations segments, respectively, including $1.5 million in exchange differences arising during the period.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4922-128472 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4934-128472 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4926-128472 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463 + Details
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