The Company maintains the following pension plans: a noncontributory defined benefit pension plan qualified in accordance with the Internal Revenue Service Code ("Qualified Plan") covering substantially all U.S. employees hired before January 1, 2006, a non-qualified unfunded retirement income plan ("Excess Plan") covering certain U.S. employees hired before January 1, 2006 and affected by Internal Revenue Service Code compensation limits, a non-qualified unfunded Supplemental Retirement Income Plan ("SRIP") covering certain executive officers of the Company hired before January 1, 2006 and noncontributory defined benefit pension plans in certain of its international locations ("Other Plans").

Qualified Plan benefits are based on (i) average compensation in the highest paid five years of the last 10 years of employment ("average final compensation") and (ii) the number of years of service. The normal retirement age under the Qualified Plan is age 65; however, participants who retire with at least 10 years of service may elect to receive reduced retirement benefits starting at age 55. The Company funds the Qualified Plan's trust in accordance with regulatory limits to provide for current service and for the unfunded benefit obligation over a reasonable period and for current service benefit accruals. To the extent that these requirements are fully covered by assets in the Qualified Plan, the Company may elect not to make any contribution in a particular year. No cash contribution was required in 2018 and none is required in 2019 to meet the minimum funding requirements of the Employee Retirement Income Security Act. However, the Company periodically evaluates whether to make discretionary cash contributions to the Qualified Plan and made voluntary cash contributions of $30.0 million in 2019, $11.8 million in 2018 and $15.0 million in 2017. The Company does not currently expect to make any contributions to the Qualified Plan in 2020.

The Qualified Plan, Excess Plan and SRIP exclude all employees hired on or after January 1, 2006. Instead, employees hired on or after January 1, 2006 are eligible to receive a defined contribution retirement benefit under the Employee Profit Sharing and Retirement Savings ("EPSRS") Plan (see "Employee Profit Sharing and Retirement Savings Plan" below). Employees hired before January 1, 2006 continue to be eligible for and accrue benefits under the Qualified Plan.

The Excess Plan uses the same retirement benefit formula set forth in the Qualified Plan, but includes earnings that are excluded under the Qualified Plan due to Internal Revenue Service Code qualified pension plan limitations. Benefits payable under the Qualified Plan offset benefits payable under the Excess Plan. Employees vested under the Qualified Plan are vested under the Excess Plan; however, benefits under the Excess Plan are subject to forfeiture if employment is terminated for cause and, for those who leave the Company prior to age 65, if they fail to execute and adhere to noncompetition and confidentiality covenants. Under the Excess Plan, participants who retire with at least 10 years of service may elect to receive reduced retirement benefits starting at age 55.

The SRIP supplements the Qualified Plan, Excess Plan and Social Security by providing additional payments upon a participant's retirement. SRIP benefits are determined by a percentage of average final compensation; this percentage increases as specified service plateaus are achieved. Benefits payable under the Qualified Plan, Excess Plan and Social Security offset benefits payable under the SRIP. Under the SRIP, benefits vest when a participant both (i) attains age 55 while employed by the Company and (ii) has provided at least 10 years of service. In certain limited circumstances, early vesting can occur due to a change in control. Benefits under the SRIP are forfeited if benefits under the Excess Plan are forfeited.

Benefits for the Other Plans are typically based on monthly eligible compensation and the number of years of service. Benefits are typically payable in a lump sum upon retirement, termination, resignation or death if the participant has completed the requisite service period.

The Company accounts for pension expense using the projected unit credit actuarial method for financial reporting purposes. The actuarial present value of the benefit obligation is calculated based on the expected date of separation or retirement of the Company's eligible employees.

The Company provides certain health-care and life insurance benefits ("Other Postretirement Benefits") for certain retired employees and accrues the cost of providing these benefits throughout the employees' active service period until they attain full eligibility for those benefits. Substantially all of the Company's U.S. full-time employees hired on or before March 31, 2012 may become eligible for these benefits if they reach normal or early retirement age while working for the Company. The cost of providing postretirement health-care benefits is shared by the retiree and the Company, with retiree contributions evaluated annually and adjusted in order to maintain the Company/retiree cost-sharing target ratio. The life insurance benefits are noncontributory. The Company's employee and retiree health-care benefits are administered by an insurance company, and premiums on life insurance are based on prior years' claims experience.



	Years Ended January 31,
	Pension Benefits						Other Postretirement Benefits
(in millions)	2020			2019			2020			2019
Change in benefit obligation:
Projected benefit obligation at beginning of year	$	795.0		$	795.6		$	76.1		$	78.5
Service cost	17.0			17.9			2.6			3.0
Interest cost	32.5			30.7			3.3			3.0
Participants' contributions	—			—			1.3			1.3
MMA retiree drug subsidy	—			—			0.1			0.1
Actuarial loss (gain)	139.8			(22.4		)	15.4			(7.0		)
Benefits paid	(28.2		)	(26.8		)	(2.7		)	(2.8		)
Projected benefit obligation at end of year	956.1			795.0			96.1			76.1
Change in plan assets:
Fair value of plan assets at beginning of year	549.7			578.1			—			—
Actual return on plan assets	109.9			(20.1		)	—			—
Employer contributions	37.3			18.5			1.3			1.4
Participants' contributions	—			—			1.3			1.3
MMA retiree drug subsidy	—			—			0.1			0.1
Benefits paid	(28.2		)	(26.8		)	(2.7		)	(2.8		)
Fair value of plan assets at end of year	668.7			549.7			—			—
Funded status at end of year	$	(287.4	)	$	(245.3	)	$	(96.1	)	$	(76.1	)



	January 31, 2020
(in millions)	Qualified			Excess/SRIP			Other			Total
Projected benefit obligation	$	800.3		$	127.8		$	28.0		$	956.1
Fair value of plan assets	668.7			—			—			668.7
Funded status	$	(131.6	)	$	(127.8	)	$	(28.0	)	$	(287.4	)
Accumulated benefit obligation	$	722.1		$	110.6		$	22.8		$	855.5



	January 31, 2019
(in millions)	Qualified			Excess/SRIP			Other			Total
Projected benefit obligation	$	658.5		$	109.4		$	27.1		$	795.0
Fair value of plan assets	549.7			—			—			549.7
Funded status	$	(108.8	)	$	(109.4	)	$	(27.1	)	$	(245.3	)
Accumulated benefit obligation	$	598.8		$	94.0		$	22.2		$	715.0

At January 31, 2020, the Company had a current liability of $9.0 million and a non-current liability of $374.5 million for pension and other postretirement benefits. At January 31, 2019, the Company had a current liability of $9.0 million and a non-current liability of $312.4 million for pension and other postretirement benefits.



	January 31,
	Pension Benefits				Other Postretirement Benefits
(in millions)	2020		2019		2020			2019
Net actuarial loss (gain)	$	188.0	$	132.7	$	9.7		$	(5.8	)
Prior service cost (credit)	0.4		0.5		(0.4		)	(1.0		)
Total before tax	$	188.4	$	133.2	$	9.3		$	(6.8	)



	Years Ended January 31,
	Pension Benefits									Other Postretirement Benefits
(in millions)	2020			2019			2018			2020			2019			2018
Service cost	$	17.0		$	17.9		$	17.3		$	2.6		$	3.0		$	2.8
Interest cost	32.5			30.7			32.0			3.3			3.0			3.0
Expected return on plan assets	(36.7		)	(33.4		)	(32.9		)	—			—			—
Amortization of prior service cost (credit)	0.1			0.1			0.2			(0.6		)	(0.7		)	(0.7		)
Amortization of net loss (gain)	11.3			15.0			13.2			(0.1		)	0.1			0.1
Net periodic benefit cost	24.2			30.3			29.8			5.2			5.4			5.2

Net actuarial loss (gain)	66.6			31.2			(32.1		)	15.4			(7.0		)	1.5
Recognized actuarial (loss) gain	(11.3		)	(15.0		)	(13.2		)	0.1			(0.1		)	(0.1		)
Recognized prior service (cost) credit	(0.1		)	(0.1		)	(0.2		)	0.6			0.7			0.7
Total recognized in other comprehensive earnings	55.2			16.1			(45.5		)	16.1			(6.4		)	2.1
Total recognized in net periodic benefit cost and other comprehensive earnings	$	79.4		$	46.4		$	(15.7	)	$	21.3		$	(1.0	)	$	7.3



	January 31,
	2020		2019
Discount rate:
Qualified Plan	3.25	%	4.25	%
Excess Plan/SRIP	3.00	%	4.25	%
Other Plans	0.76	%	0.81	%
Other Postretirement Benefits	3.25	%	4.50	%
Rate of increase in compensation:
Qualified Plan	3.00	%	3.00	%
Excess Plan	4.25	%	4.25	%
SRIP	6.50	%	6.50	%
Other Plans	2.56	%	2.56	%



	Years Ended January 31,
	2020		2019		2018
Discount rate:
Qualified Plan	4.25	%	4.00	%	4.25	%
Excess Plan/SRIP	4.25	%	3.75	%	4.25	%
Other Plans	1.32	%	1.54	%	1.49	%
Other Postretirement Benefits	4.50	%	4.00	%	4.25	%
Expected return on plan assets	7.00	%	7.00	%	7.00	%
Rate of increase in compensation:
Qualified Plan	3.00	%	3.00	%	3.00	%
Excess Plan	4.25	%	4.25	%	4.25	%
SRIP	6.50	%	6.50	%	6.50	%
Other Plans	2.66	%	1.41	%	1.38	%

The expected long-term rate of return on Qualified Plan assets is selected by taking into account the average rate of return expected on the funds invested or to be invested to provide for benefits included in the projected benefit obligation. More specifically, consideration is given to the expected rates of return (including reinvestment asset return rates) based upon the plan's current asset mix, investment strategy and the historical performance of plan assets.

The Company's investment objectives related to the Qualified Plan's assets are the preservation of principal and balancing the management of interest rate risk associated with the duration of the plan's liabilities with the achievement of a reasonable rate of return over time. The Qualified Plan's assets are allocated based on an

expectation that equity securities will outperform debt securities over the long term, but that as the plan's funded status (assets relative to liabilities) increases, the amount of assets allocated to fixed income securities which match the interest rate risk profile of the plan's liabilities will increase. The Company's target asset allocation based on its funded status as of January 31, 2020 is as follows: approximately 50% in equity securities; approximately 35% in fixed income securities; and approximately 15% in other securities. The Company attempts to mitigate investment risk by rebalancing the asset allocation periodically.



	Fair Value at		Fair Value Measurements Using Inputs Considered as*
(in millions)	January 31, 2020		Level 1		Level 2		Level 3
Equity securities:
U.S. equity securities	$	53.0	$	53.0	$	—	$	—
Mutual funds	119.5		119.5		—		—
Fixed income securities:
Government bonds	100.5		99.3		1.2		—
Corporate bonds	139.9		—		139.9		—
Other types of investments:
Cash and cash equivalents	2.5		2.5		—		—
Mutual funds	73.9		61.8		12.1		—
Net assets in fair value hierarchy	489.3		336.1		153.2		—
Investments at NAV practical expedient ^a	179.4
Plan assets at fair value	$	668.7	$	336.1	$	153.2	$	—

	Fair Value at		Fair Value Measurements Using Inputs Considered as*
(in millions)	January 31, 2019		Level 1		Level 2		Level 3
Equity securities:
U.S. equity securities	$	63.4	$	63.4	$	—	$	—
Mutual fund	38.7		38.7		—		—
Fixed income securities:
Government bonds	80.8		79.6		1.2		—
Corporate bonds	122.7		—		122.7		—
Other types of investments:
Cash and cash equivalents	2.7		2.7		—		—
Mutual funds	52.0		52.0		—		—
Net assets in fair value hierarchy	360.3		236.4		123.9		—
Investments at NAV practical expedient^a	189.4
Plan assets at fair value	$	549.7	$	236.4	$	123.9	$	—

Investments within the fair value hierarchy. Securities traded on the national securities exchange (certain government bonds) are valued at the last reported sales price or closing price on the last business day of the fiscal year. Investments traded in the over-the-counter market and listed securities for which no sales were reported (certain government bonds, corporate bonds and mortgage obligations) are valued at the last reported bid price. Certain fixed income investments are held in separately managed accounts and those investments are valued using the underlying securities in the accounts.

Investments in mutual funds are stated at fair value as determined by quoted market prices based on the NAV of shares held by the Qualified Plan at year-end. Investments in U.S. equity securities are valued at the closing price reported on the active market on which the individual securities are traded.

Common/collective trusts include investments in U.S. and international large, middle and small capitalization equities. Investments in common/collective trusts are stated at estimated fair value, which represents the NAV of shares held by the Qualified Plan as reported by the investment advisor. The NAV is based on the value of the underlying assets owned by the common/collective trust, minus its liabilities and then divided by the number of shares outstanding. The NAV is used as a practical expedient to estimate fair value.

The Qualified Plan maintains investments in limited partnerships that are valued at estimated fair value based on financial information received from the investment advisor and/or general partner. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities and then divided by the number of shares outstanding. The NAV is used as a practical expedient to estimate fair value.

The Company maintains an EPSRS Plan that covers substantially all U.S.-based employees. Under the profit-sharing feature of the EPSRS Plan, the Company made contributions, in the form of newly issued Company Common Stock through 2014, to the employees' accounts based on the achievement of certain targeted earnings objectives established by, or as otherwise determined by, the Company's Board of Directors. Beginning in 2015, these contributions were made in cash. The EPSRS Plan provides a retirement savings feature, a profit sharing feature and a defined contribution retirement benefit ("DCRB"). The DCRB is provided to eligible employees hired on or after January 1, 2006. Contributions related to the retirement savings feature and profit sharing feature for a particular plan year are made the following year.

Under the retirement savings feature of the EPSRS Plan, employees who meet certain eligibility requirements may participate by contributing up to 50% of their annual compensation, not to exceed Internal Revenue Service limits, and the Company may provide a matching cash contribution of 50% of each participant's contributions, with a maximum matching contribution of 3% of each participant's total compensation. The Company recorded expense of $9.2 million, $8.6 million and $8.2 million in 2019, 2018 and 2017, respectively, related to the retirement savings feature of the EPSRS Plan.

Under the profit-sharing feature of the EPSRS Plan, contributions are made in cash and are allocated within the respective participant's account based on investment elections made under the EPSRS Plan. If the participant has made no election, the contribution will be invested in the appropriate default target fund as determined by each participant's date of birth. Under the retirement savings portion of the EPSRS Plan, employees may invest their contributions and the related matching contribution to their accounts in a similar manner. Under both the profit-sharing and retirement savings features, employees may elect to invest a portion of the contributions to their accounts in Company stock. At January 31, 2020, investments in Company stock represented 19% of total EPSRS Plan assets. The Company recorded expense of $4.9 million and $3.9 million in 2018 and 2017, respectively, related to the profit sharing feature of the EPSRS Plan and did not record any such expense in 2019.

Under the DCRB, the Company makes contributions each year to each employee's account at a rate based upon age and years of service. These contributions are deposited into individual accounts in each employee's name to be invested in a manner similar to the profit-sharing and retirement savings portions of the EPSRS Plan (except that DCRB contributions may not be invested in Company stock). The Company recorded expense of $7.2 million, $4.7 million and $5.2 million in 2019, 2018 and 2017, respectively, related to the DCRB.

The Company has a non-qualified deferred compensation plan for directors, executives and certain management employees, whereby eligible participants may defer a portion of their compensation for payment at specified future dates, upon retirement, death or termination of employment. This plan also provides for an excess defined contribution retirement benefit ("Excess DC benefit") for certain eligible executives and management employees, hired on or after January 1, 2006. The Excess DC benefit is credited to the eligible employee's account, based on the compensation paid to the employee in excess of the IRS limits for contributions under the DCRB Plan. Under the plan, the deferred compensation is adjusted to reflect performance, whether positive or negative, of selected investment options chosen by each participant during the deferral period. The amounts accrued under the plans were $27.6 million and $22.6 million at January 31, 2020 and 2019, respectively, and are reflected in Other long-term liabilities. The Company does not promise or guarantee any rate of return on amounts deferred.