Income Taxes (Tables)

12 Months Ended

Jan. 31, 2018

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)	2018		2017		2016
United States	$	597.1	$	478.2	$	502.5
Foreign	163.4		198.4		207.4
	$	760.5	$	676.6	$	709.9

Schedule of Components of Income Tax Expense (Benefit)

Components of the provision for income taxes were as follows:

	Years Ended January 31,
(in millions)	2018		2017		2016
Current:
Federal	$	227.9	$	125.5	$	175.8
State	16.7		15.4		22.3
Foreign	49.0		43.5		49.8
	293.6		184.4		247.9
Deferred:
Federal	94.1		36.7		(15.4		)
State	1.1		7.1		3.9
Foreign	1.6		2.3		9.6
	96.8		46.1		(1.9		)
	$	390.4	$	230.5	$	246.0

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,
	2018		2017		2016
Statutory Federal income tax rate	33.8	%	35.0	%	35.0	%
State income taxes, net of Federal benefit	1.5		2.2		2.4
Foreign losses with no tax benefit	0.2		0.2		—
Foreign tax rate differences	(1.4	)	(2.3	)	(2.5	)
Net change in uncertain tax positions	0.2		(0.7	)	0.5
Domestic manufacturing deduction	(1.8	)	(0.9	)	(1.3	)
2017 Tax Act	19.8		—		—
Other	(1.0	)	0.6		0.6
	51.3	%	34.1	%	34.7	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) consisted of the following:

	January 31,
(in millions)	2018			2017
Deferred tax assets:
Pension/postretirement benefits	$	81.2		$	124.7
Accrued expenses	22.9			36.1
Share-based compensation	7.2			17.3
Depreciation	0.6			6.5
Amortization	6.4			10.8
Foreign and state net operating losses	9.2			25.5
Sale-leaseback	17.2			25.8
Inventory	35.8			57.6
Financial hedging instruments	8.4			11.9
Unearned income	7.7			10.6
Other	25.1			23.0
	221.7			349.8
Valuation allowance	(9.6		)	(24.1		)
	212.1			325.7
Deferred tax liabilities:
Foreign tax credit	(24.9		)	(25.8		)
Net deferred tax asset	$	187.2		$	299.9

Summary of Income Tax Contingencies

The following table reconciles the unrecognized tax benefits:

	Years ended January 31,
(in millions)	2018			2017			2016
Unrecognized tax benefits at beginning of year	$	7.2		$	14.0		$	12.1
Gross increases – tax positions in prior period	3.2			0.9			1.0
Gross decreases – tax positions in prior period	(0.9		)	(5.0		)	(0.4		)
Gross increases – tax positions in current period	0.6			0.3			1.4
Settlements	—			(3.0		)	—
Lapse of statute of limitations	—			—			(0.1		)
Unrecognized tax benefits at end of year	$	10.1		$	7.2		$	14.0