INVESTMENTS IN UNCONSOLIDATED AFFILIATES

6 Months Ended

Aug. 04, 2019

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENTS IN UNCONSOLIDATED AFFILIATES

INVESTMENTS IN UNCONSOLIDATED AFFILIATES

The Company had investments in unconsolidated affiliates of $146.6 million, $207.1 million and $201.3 million as of August 4, 2019, February 3, 2019 and August 5, 2018, 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 $10.0 million and $3.6 million from these investments during the twenty-six weeks ended August 4, 2019 and August 5, 2018, respectively.

Prior to May 31, 2019, the Company held an approximately 22% ownership interest in Gazal and a 50% ownership interest in PVH Australia. These investments were accounted for under the equity method of accounting until the closing of the Australia acquisition on May 31, 2019, on which date the Company derecognized its equity investments in Gazal and PVH Australia and began to consolidate the operations of Gazal and PVH Australia into its financial statements. Please see Note 4, “Acquisitions,” for further discussion.