DERIVATIVE FINANCIAL INSTRUMENTS (Details) € in Millions, $ in Millions | 3 Months Ended | | | | |
May 05, 2024 USD ($) | Apr. 30, 2023 USD ($) | May 05, 2024 EUR (€) | Apr. 25, 2024 USD ($) | Apr. 15, 2024 USD ($) | Feb. 04, 2024 USD ($) |
Derivative [Line Items] | | | | | | | |
Cost of goods sold | | $ 753.2 | $ 907.6 | | | | |
Selling, general and administrative expenses | | 1,017.3 | 1,064 | | | | |
Interest expense | | $ 23.3 | 25.3 | | | | |
Percentage of long-term debt at fixed interest rates | | 80% | | 80% | | | |
Other Current Assets [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | $ 20.1 | 11.8 | | | | $ 21.5 |
Other Assets [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | 1.8 | 0.1 | | | | 0.5 |
Accrued Expenses [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Liability, Fair Value, Gross Liability | | 3.1 | 29.7 | | | | 3.5 |
Other Liabilities [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Liability, Fair Value, Gross Liability | | 0.1 | 1.3 | | | | 1.7 |
Foreign Currency Forward Exchange Contracts [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative, Notional Amount | | 1,264.6 | | | | | |
Contracts designated as hedging instrument [Member] | Derivative Contract | | | | | | | |
Derivative [Line Items] | | | | | | | |
Other Comprehensive (Loss) Income, Designated Hedges, Gain (Loss) before Reclassification and Tax | | 12.8 | (10.6) | | | | |
Derivative Instruments, Gain Reclassified from AOCL into Income, Effective Portion, Net | | 7.4 | 4.8 | | | | |
Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | Other Current Assets [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | 0.5 | 0.4 | | | | 1.9 |
Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | Other Assets [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | 0 | 0 | | | | 0 |
Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | Accrued Expenses [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Liability, Fair Value, Gross Liability | | 0.9 | 5.7 | | | | 1.1 |
Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | Other Liabilities [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Liability, Fair Value, Gross Liability | | 0 | 0 | | | | 0 |
Cost of goods sold [Member] | Foreign Currency Forward Exchange Contracts (Inventory Purchases) [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Instruments, Net Gain Reclassification from AOCL to income, Estimated Net Amount to be Transferred | | $ 20.7 | | | | | |
Derivative Instruments, Net Gain Reclassification from AOCL to expense, Estimate of Time to Transfer | | 12 months | | | | | |
Selling, General and Administrative Expenses [Member] | Undesignated contracts [Member] | Foreign Currency Forward Exchange Contracts [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss) Recognized in Expense, Net | [1] | $ 1.4 | (1) | | | | |
Cash Flow Hedging [Member] | Contracts designated as hedging instrument [Member] | Foreign Currency Forward Exchange Contracts (Inventory Purchases) [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Other Comprehensive (Loss) Income, Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | | 7.4 | 2.4 | | | | |
Derivative Instruments, Gain Reclassified from AOCL into Income, Effective Portion, Net | | $ 5.7 | $ 4.8 | | | | |
Derivative Instrument, Gain Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration] | | Cost of goods sold | Cost of goods sold | | | | |
Cash Flow Hedging [Member] | Contracts designated as hedging instrument [Member] | Foreign Currency Forward Exchange Contracts (Inventory Purchases) [Member] | Other Current Assets [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | $ 15 | $ 11.4 | | | | 13.2 |
Cash Flow Hedging [Member] | Contracts designated as hedging instrument [Member] | Foreign Currency Forward Exchange Contracts (Inventory Purchases) [Member] | Other Assets [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | 0.7 | 0.1 | | | | 0.5 |
Cash Flow Hedging [Member] | Contracts designated as hedging instrument [Member] | Foreign Currency Forward Exchange Contracts (Inventory Purchases) [Member] | Accrued Expenses [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Liability, Fair Value, Gross Liability | | 2.2 | 24 | | | | 2.4 |
Cash Flow Hedging [Member] | Contracts designated as hedging instrument [Member] | Foreign Currency Forward Exchange Contracts (Inventory Purchases) [Member] | Other Liabilities [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Liability, Fair Value, Gross Liability | | 0.1 | 1.3 | | | | 0.4 |
Net Investment Hedging [Member] | Contracts designated as hedging instrument [Member] | Euro Denominated Senior Notes | | | | | | | |
Derivative [Line Items] | | | | | | | |
Other Comprehensive (Loss) Income, Net Investment Hedge, Gain (Loss), before Reclassification and Tax | | 3.1 | (13) | | | | |
Long-term Debt, Fair Value | | 1,190.2 | 1,203.8 | | | | 1,201.6 |
Long-term Debt, Carrying Amount | | 1,201.5 | 1,229 | | | | 1,209.4 |
Net Investment Hedging [Member] | Contracts designated as hedging instrument [Member] | Currency Swap | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative, Notional Amount | € | | | | € 457.2 | | | |
Other Comprehensive (Loss) Income, Net Investment Hedge, Gain (Loss), before Reclassification and Tax | | 2.3 | 0 | | | | |
Derivative Instruments, Gain Reclassified from AOCL into Income, Effective Portion, Net | | $ 1.7 | $ 0 | | | | |
Derivative Instrument, Gain Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration] | | Interest expense | Interest expense | | | | |
Net Investment Hedging [Member] | Contracts designated as hedging instrument [Member] | Currency Swap | Receive Fixed Interest Rate Member | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative, Average Fixed Interest Rate | | 1.405% | | 1.405% | | | |
Net Investment Hedging [Member] | Contracts designated as hedging instrument [Member] | Currency Swap | Pay Fixed Interest Rate | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative, Fixed Interest Rate | | 0% | | 0% | | | |
Net Investment Hedging [Member] | Contracts designated as hedging instrument [Member] | Currency Swap | Other Current Assets [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | $ 4.6 | $ 0 | | | | 6.4 |
Net Investment Hedging [Member] | Contracts designated as hedging instrument [Member] | Currency Swap | Other Assets [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | 1.1 | 0 | | | | 0 |
Net Investment Hedging [Member] | Contracts designated as hedging instrument [Member] | Currency Swap | Accrued Expenses [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Liability, Fair Value, Gross Liability | | 0 | 0 | | | | 0 |
Net Investment Hedging [Member] | Contracts designated as hedging instrument [Member] | Currency Swap | Other Liabilities [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Derivative Liability, Fair Value, Gross Liability | | 0 | 0 | | | | 1.3 |
Senior notes due 2027 [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Debt instrument, face amount | € | | | | € 600 | | | |
Long-term Debt, Carrying Amount | [2] | $ 642.3 | 654.4 | | | | 643.7 |
Debt Instrument, Interest Rate, Stated Percentage | | 3.125% | | 3.125% | | | |
Senior notes due 2024 [Member] | | | | | | | |
Derivative [Line Items] | | | | | | | |
Debt instrument, face amount | | | | € 525 | $ 525 | | |
Long-term Debt, Carrying Amount | [2] | $ 0 | 574.6 | | | | 565.7 |
Debt Instrument, Interest Rate, Stated Percentage | | 3.625% | | 3.625% | | | |
Senior notes due 2025 | | | | | | | |
Derivative [Line Items] | | | | | | | |
Debt instrument, face amount | | $ 500 | | | | | |
Long-term Debt, Carrying Amount | | $ 498.5 | 497.3 | | | | 498.2 |
Debt Instrument, Interest Rate, Stated Percentage | | 4.625% | | 4.625% | | | |
Senior Notes Due 2029 | | | | | | | |
Derivative [Line Items] | | | | | | | |
Debt instrument, face amount | | | | € 525 | | $ 525 | |
Long-term Debt, Carrying Amount | [2] | $ 559.2 | $ 0 | | | | $ 0 |
Debt Instrument, Interest Rate, Stated Percentage | | 4.125% | | 4.125% | | | |
| |
[1]Any gains and losses that are immediately recognized in earnings on such contracts are largely offset by the remeasurement of the underlying balances.[2]The carrying amount of the euro-denominated Term Loan A facility and the senior unsecured euro notes includes the impact of changes in the exchange rate of the United States dollar against the euro. | |