INCOME TAXES (Tables)

12 Months Ended

Feb. 04, 2018

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The domestic and foreign components of (loss) income before (benefit) provision for income taxes were as follows:



(In millions)	2017			2016		2015
Domestic	$	(102.0	)	$	60.9	$	117.5
Foreign	612.2			613.3		530.0
Total	$	510.2		$	674.2	$	647.5

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The (benefit) provision for income taxes attributable to income consisted of the following:



(In millions)	2017				2016			2015
Federal:
Current	$	51.7			$	(2.7	)	$	6.8
Deferred	(198.3		)	⁽¹⁾	(9.3		)	(4.1		)
State and local:
Current	3.5				(2.4		)	6.4
Deferred	(7.8		)		(0.9		)	(22.2		)
Foreign:
Current	143.5				129.3			70.6
Deferred	(18.5		)		11.5			17.6
Total	$	(25.9	)		$	125.5		$	75.1

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The (benefit) provision for income taxes for the years 2017, 2016 and 2015 was different from the amount computed by applying the statutory United States federal income tax rate to the underlying income as follows:



	2017			2016		2015
Statutory federal income tax rate	33.7	%	⁽¹⁾	35.0	%	35.0	%
State and local income taxes, net of federal income tax benefit	(1.1	)%		0.4	%	(1.3	)%
Effects of international jurisdictions, including foreign tax credits	(20.3	)%		(12.9	)%	(15.0	)%
Change in estimates for uncertain tax positions	(7.5	)%		(3.7	)%	(7.6	)%
Change in valuation allowance	11.0	%	⁽²⁾	(0.1	)%	(0.2	)%
Provisional one-time transition tax due to Tax Legislation	34.0	%		—	%	—	%
Provisional remeasurement due to Tax Legislation	(51.9	)%		—	%	—	%
Excess tax benefits related to stock-based compensation	(2.8	)%	⁽³⁾	—	%	—	%
Other, net	(0.2	)%		(0.1	)%	0.7	%
Effective income tax rate	(5.1	)%		18.6	%	11.6	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of deferred income tax assets and liabilities were as follows:



(In millions)	2017			2016
Gross deferred tax assets
Tax loss and credit carryforwards	$	247.0		$	248.1
Employee compensation and benefits	72.2			88.7
Inventories	22.1			27.2
Accounts receivable	17.6			26.6
Accrued expenses	25.5			31.7
Derivative financial instruments	18.3			—
Other, net	8.7			0.0
Subtotal	411.4			422.3
Valuation allowances	(106.3		)	(43.9		)
Total gross deferred tax assets, net of valuation allowances	$	305.1		$	378.4
Gross deferred tax liabilities
Intangibles	$	(898.9	)	$	(1,157.0	)
Property, plant and equipment	(43.8		)	(67.6		)
Derivative financial instruments	—			(5.8		)
Other, net	—			(8.3		)
Total gross deferred tax liabilities	$	(942.7	)	$	(1,238.7	)
Net deferred tax liability	$	(637.6	)	$	(860.3	)

Summary of Income Tax Contingencies [Table Text Block]

Uncertain tax positions activity for each of the last three years was as follows:



(In millions)	2017			2016			2015
Balance at beginning of year	$	245.6		$	226.8		$	244.5
Increases related to prior year tax positions	15.4			2.8			4.3
Decreases related to prior year tax positions	(10.3		)	(9.9		)	(12.5		)
Increases related to current year tax positions	79.7			52.0			40.0
Lapses in statute of limitations	(46.3		)	(24.4		)	(44.6		)
Effects of foreign currency translation	13.0			(1.7		)	(4.9		)
Balance at end of year	$	297.1		$	245.6		$	226.8

The entire amount of uncertain tax positions as of February 4, 2018, if recognized, would reduce the future effective tax rate under current accounting provisions.