INVESTMENTS IN UNCONSOLIDATED AFFILIATES

9 Months Ended

Oct. 29, 2017

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENTS IN UNCONSOLIDATED AFFILIATES

INVESTMENTS IN UNCONSOLIDATED AFFILIATES

As of October 29, 2017, January 29, 2017 and October 30, 2016, the Company had investments in unconsolidated affiliates of $186.3 million, $180.0 million and $119.2 million, respectively. These investments are accounted for under the equity method of accounting and included in other assets in the Company’s Consolidated Balance Sheets. The Company received dividends of $3.7 million from these investments during the thirty-nine weeks ended October 29, 2017 and made payments related to these investments of $4.5 million and $3.0 million during the thirty-nine weeks ended October 29, 2017 and October 30, 2016, respectively, to contribute its share of the joint venture funding for the periods.

The Company acquired approximately 10% of the outstanding capital stock of Gazal Corporation Limited (“Gazal”), which is listed on the Australian Securities Exchange, during the third quarter of 2016 for $9.2 million. Additionally, the Company issued a note receivable due April 2, 2017 to its joint venture in Brazil during the third quarter of 2016 for $12.5 million, of which $6.2 million was repaid in the fourth quarter of 2016 and the remaining balance, including accrued interest, was repaid in the first quarter of 2017.

The Company and Grupo Axo formed PVH Mexico in the fourth quarter of 2016, in which the Company owns a 49% economic interest. In connection with the formation of PVH Mexico, the Company deconsolidated the Mexico business and began accounting for its 49% interest under the equity method of accounting in the fourth quarter of 2016. Please see Note 4, “Assets Held for Sale,” for further discussion.