Income Taxes (Tables)

12 Months Ended

Jan. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Earnings from operations before income taxes consisted of the following:

	Years Ended January 31,
(in millions)	2016		2015		2014
United States	$	502.5	$	484.5	$	65.2
Foreign	207.4		253.0		189.7
	$	709.9	$	737.5	$	254.9

Schedule of Components of Income Tax Expense (Benefit)

Components of the provision for income taxes were as follows:

	Years Ended January 31,
(in millions)	2016			2015			2014
Current:
Federal	$	175.8		$	130.9		$	39.0
State	22.3			18.2			9.9
Foreign	49.8			66.5			52.5
	247.9			215.6			101.4
Deferred:
Federal	(15.4		)	25.2			(28.6		)
State	3.9			13.2			(2.3		)
Foreign	9.6			(0.7		)	3.0
	(1.9		)	37.7			(27.9		)
	$	246.0		$	253.3		$	73.5

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of the provision for income taxes at the statutory Federal income tax rate to the Company's effective income tax rate were as follows:

	Years Ended January 31,
	2016		2015		2014
Statutory Federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of Federal benefit	2.4		2.8		2.0
Foreign losses with no tax benefit	—		0.7		1.3
Undistributed foreign earnings	(2.5	)	(4.2	)	(7.8	)
Net change in uncertain tax positions	0.5		0.3		0.5
Domestic manufacturing deduction	(1.3	)	(1.3	)	(2.5	)
Other	0.6		1.1		0.3
	34.7	%	34.4	%	28.8	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) consisted of the following:

	January 31,
(in millions)	2016			2015
Deferred tax assets:
Pension/postretirement benefits	$	166.7		$	203.0
Accrued expenses	34.3			36.4
Share-based compensation	18.3			17.3
Depreciation	6.6			14.4
Amortization	11.4			11.4
Foreign and state net operating losses	23.5			22.9
Sale-leaseback	30.4			36.3
Inventory	50.9			72.7
Financial hedging instruments	19.7			14.1
Unearned income	11.3			11.2
Other	53.6			37.1
	426.7			476.8
Valuation allowance	(19.5		)	(16.2		)
	407.2			460.6
Deferred tax liabilities:
Foreign tax credit	(25.1		)	(34.8		)
Net deferred tax asset	$	382.1		$	425.8

Summary of Income Tax Contingencies

The following table reconciles the unrecognized tax benefits:

							January 31,
(in millions)	2016			2015			2014
Unrecognized tax benefits at beginning of year	$	8.3		$	27.6		$	28.2
Gross increases – tax positions in prior period	1.0			1.0			0.3
Gross decreases – tax positions in prior period	(0.4		)	(5.4		)	(0.4		)
Gross increases – tax positions in current period	1.4			0.1			0.1
Settlements	—			(14.8		)	(0.3		)
Lapse of statute of limitations	(0.1		)	(0.2		)	(0.3		)
Unrecognized tax benefits at end of year	$	10.2		$	8.3		$	27.6