← PVH CORP. /DE/
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Equity in net income of unconsolidated affiliates | ($100k) | ($10.1m) | ($21.3m) | ($9.6m) | $4.6m | ($23.7m) | ($50.4m) | ($45.7m) | ($48.2m) | ($44.7m) | |
| Net Income (Loss) Attributable to Parent | $549.0m | $537.8m | $746.4m | $417.3m | ($1.1b) | $952.3m | $200.4m | $663.6m | $598.5m | $25.3m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $548.7m | $536.1m | $744.6m | $415.1m | ($1.1b) | $952.0m | $200.4m | $663.6m | $598.5m | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | ($300k) | ($1.7m) | ($1.8m) | ($2.2m) | ($1.4m) | — | — | — | — | — | |
| Depreciation, Depletion and Amortization | $321.8m | $324.9m | $334.8m | $323.8m | $325.8m | $313.3m | $301.5m | $298.6m | $282.2m | $272.3m | |
| Amortization of Intangible Assets | $86.2m | $65.0m | $62.8m | $39.7m | $34.3m | $34.2m | $32.1m | $23.1m | $22.5m | $16.6m | |
| Depreciation | $228.4m | $252.2m | $263.9m | $275.0m | $280.8m | $266.6m | $255.4m | $259.9m | $243.9m | $272.3m | |
| Deferred Income Tax Expense (Benefit) | $1.3m | ($224.6m) | ($113.3m) | ($72.9m) | ($144.7m) | ($64.9m) | $9.8m | ($14.4m) | ($25.6m) | — | |
| Deferred taxes | $1.3m | ($224.6m) | ($113.3m) | ($72.9m) | ($144.7m) | ($64.9m) | $9.8m | ($14.4m) | ($25.6m) | ($44.2m) | |
| Share-based Payment Arrangement, Noncash Expense | $38.2m | $44.9m | $56.2m | $56.1m | $50.5m | $46.8m | $46.6m | $51.9m | $54.0m | — | |
| Goodwill and Intangible Asset Impairment | — | — | — | $0 | $933.5m | $0 | $417.1m | $0 | $0 | — | |
| Goodwill, Impairment Loss | — | — | — | — | $879.0m | — | $417.1m | $0 | — | $426.0m | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | $54.5m | — | — | — | — | — | |
| Impairment of goodwill and other intangible assets | — | — | $0 | $0 | $933.5m | $0 | $417.1m | $0 | $0 | $479.5m | |
| Impairment of other long-lived assets | — | — | $17.9m | $109.9m | $81.9m | $47.0m | $51.7m | $5.7m | $10.2m | $13.8m | |
| Income (Loss) from Equity Method Investments | $100k | $10.1m | $21.3m | $9.6m | ($4.6m) | $23.7m | $50.4m | $45.7m | $48.2m | $44.7m | |
| Income Tax Expense (Benefit) | $125.5m | ($25.9m) | $31.0m | $28.9m | ($55.5m) | $20.7m | $187.8m | $177.4m | $107.2m | $126.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($22.3m) | ($3.3m) | $151.4m | $17.1m | ($138.4m) | $138.1m | $188.5m | ($118.9m) | $82.8m | — | |
| Increase (Decrease) in Inventories | ($2.2m) | $163.5m | $212.1m | ($121.4m) | ($283.3m) | $33.9m | $466.9m | ($307.6m) | $133.8m | — | |
| Asset Retirement Obligation, Accretion Expense | $400k | $500k | $400k | $400k | $600k | $400k | $600k | $400k | $400k | — | |
| Deconsolidation, Gain (Loss), Amount | ($81.8m) | $0 | — | — | — | — | — | — | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($4.7m) | $10.2m | ($17.3m) | ($16.2m) | $5.6m | ($20.4m) | ($13.1m) | ($30.2m) | ($13.8m) | ($38.3m) | |
| Goodwill | $3.5b | $3.8b | $3.7b | $3.7b | $3.0b | $2.8b | $2.4b | $2.3b | $2.3b | $2.0b | |
| Investment Income, Interest | $5.9m | $6.3m | $4.7m | $5.3m | $4.2m | $4.4m | $7.1m | $11.5m | $23.2m | $14.9m | |
| Unrealized Gain (Loss) on Investments | — | — | — | — | — | — | — | — | $1.4m | — | |
| Stock-based compensation expense | $38.2m | $44.9m | $56.2m | $56.1m | $50.5m | $46.8m | $46.6m | $51.9m | $54.0m | $44.1m | |
| Actuarial (gain) loss on retirement and benefit plans | ($39.1m) | $2.5m | $15.0m | $97.8m | ($64.5m) | ($48.7m) | ($78.4m) | ($45.5m) | $28.2m | ($12.7m) | |
| Debt modification and extinguishment costs | $15.8m | $23.9m | $0 | $5.2m | $0 | $0 | — | — | — | — | |
| Other gain | — | $0 | $0 | $28.9m | $3.1m | ($118.9m) | $0 | ($15.3m) | ($19.5m) | $0 | |
| Trade receivables, net | $22.3m | $3.3m | ($151.4m) | ($17.1m) | $138.4m | ($138.1m) | ($188.5m) | $118.9m | ($82.8m) | ($93.3m) | |
| Other receivables | $4.2m | ($11.7m) | $10.7m | $1.0m | $1.2m | $4.1m | ($1.3m) | $7.2m | ($10.0m) | $3.1m | |
| Inventories, net | $2.2m | ($163.5m) | ($212.1m) | $121.4m | $283.3m | ($33.9m) | ($466.9m) | $307.6m | ($133.8m) | $28.5m | |
| Accounts payable, accrued expenses and deferred revenue | $166.9m | $185.9m | $112.9m | $47.8m | $140.9m | $260.7m | ($62.6m) | ($318.8m) | $95.3m | ($86.1m) | |
| Prepaid expenses | $19.2m | ($41.0m) | $8.5m | ($14.4m) | $7.9m | ($20.7m) | ($41.9m) | ($30.1m) | $23.0m | $1.8m | |
| Employer pension contributions | ($100.0m) | ($300k) | ($10.0m) | ($700k) | $0 | $0 | — | — | — | — | |
| Other, net | $18.8m | $900k | $75.9m | ($72.0m) | $73.3m | ($103.8m) | ($97.9m) | ($14.3m) | ($30.6m) | $93.0m | |
| Acquisitions, net of cash acquired | ($157.7m) | ($40.1m) | ($15.9m) | ($192.4m) | $0 | $0 | — | — | — | — | |
| Investments in unconsolidated affiliates | ($32.0m) | ($14.2m) | $0 | ($27.7m) | ($1.6m) | $0 | $0 | — | — | — | |
| Proceeds from sale of the Speedo North America business | — | — | $0 | $0 | $169.1m | $0 | $0 | — | — | — | |
| Proceeds from sale of Warner’s, Olga and True&Co. women’s intimates businesses | — | — | — | — | — | $0 | $0 | $160.0m | $7.5m | $2.5m | |
| Proceeds from sale of Van Heusen, IZOD, ARROW and Geoffrey Beene trademarks and other assets | — | — | — | — | — | $222.9m | $0 | $0 | — | — | |
| Proceeds from investments held in rabbi trust | — | — | — | — | $0 | $0 | $1.4m | $2.9m | $2.5m | $6.8m | |
| Proceeds from cross-currency swap contracts (net investment hedges) | — | — | — | — | — | — | $0 | $0 | $7.0m | $4.1m | |
| Proceeds from sale of warehouse and distribution center | $16.7m | $3.4m | $0 | $59.4m | $0 | $0 | $0 | $0 | $9.5m | $0 | |
| Net payments on short-term borrowings | ($6.8m) | $400k | ($6.7m) | ($12.1m) | ($53.6m) | $10.5m | $36.6m | ($43.5m) | $0 | $0 | |
| Proceeds from 4 5/8% senior notes, net of related fees | — | — | $0 | $0 | $493.8m | $0 | $0 | — | — | — | |
| Proceeds from 3 5/8% senior notes, net of related fees | $389.6m | — | $0 | $0 | $185.9m | $0 | $0 | — | — | — | |
| Proceeds from 2022 facilities, net of related fees | — | $0 | $0 | $1.6b | $0 | $0 | $456.4m | $0 | $0 | — | |
| Repayment of 7 3/4% senior notes | ($350.0m) | ($500.0m) | ($150.0m) | ($1.6b) | $0 | $0 | $0 | ($100.0m) | $0 | — | |
| Repayments of 2019 facilities | — | $0 | $0 | ($70.6m) | ($14.4m) | ($1.1b) | ($487.8m) | $0 | $0 | ($12.7m) | |
| Proceeds from senior notes, net of related fees | — | — | — | — | — | — | — | $0 | $553.1m | $494.0m | |
| Repayment/redemption of senior notes | — | — | — | — | — | $0 | $0 | ($11.9m) | ($11.8m) | ($500.0m) | |
| Net proceeds from settlement of awards under stock plans | $13.1m | $30.0m | $20.4m | $2.5m | $3.9m | $26.7m | $0 | $17.9m | $7.3m | $1.4m | |
| Acquisition of treasury shares | ($322.1m) | ($259.1m) | ($325.2m) | ($345.1m) | ($117.3m) | ($361.3m) | ($418.6m) | ($570.3m) | ($524.8m) | ($577.7m) | |
| Payments of finance lease liabilities | — | — | ($5.4m) | ($5.5m) | ($5.5m) | ($5.2m) | ($4.7m) | ($4.6m) | ($3.9m) | ($3.2m) | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | $0 | ($9.4m) | $0 | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $955.7m | $644.2m | $852.5m | $1.0b | $697.7m | $1.1b | $39.2m | $969.4m | $740.9m | $680.4m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $246.6m | $358.1m | $379.5m | $345.2m | $226.6m | $267.9m | $290.1m | $244.7m | $158.7m | ($142.0m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | $157.7m | $40.1m | $15.9m | $192.4m | $0 | — | — | — | — | — | |
| Purchases of investments held in rabbi trust | — | — | — | — | $0 | $0 | ($8.6m) | ($4.7m) | ($5.5m) | ($11.5m) | |
| Proceeds from sale of Karl Lagerfeld investment | — | — | — | — | $0 | $0 | $19.1m | $1.4m | $0 | $0 | |
| Net cash used by investing activities | ($480.9m) | ($459.1m) | ($395.4m) | ($505.9m) | ($59.1m) | ($45.0m) | ($278.2m) | ($85.1m) | ($137.7m) | ($140.1m) | |
| Net Cash Provided by (Used in) Investing Activities | ($480.9m) | ($402.7m) | ($395.4m) | ($505.9m) | ($59.1m) | ($45.0m) | ($278.2m) | ($85.1m) | ($137.7m) | — | |
| Cash flows from financing activities: | |||||||||||
| Payments for Repurchase of Common Stock | $322.1m | $259.1m | $325.2m | $345.1m | $117.3m | $361.3m | $418.6m | $570.3m | $524.8m | — | |
| Proceeds from Noncontrolling Interests | $2.2m | $1.7m | $0 | — | — | — | — | — | — | — | |
| Payment of mandatorily redeemable noncontrolling interest liability attributable to initial fair value | — | — | $0 | $0 | ($12.7m) | ($15.2m) | $0 | $0 | — | — | |
| Cash dividends | ($12) | ($12) | ($12) | ($11) | ($3) | ($3) | ($10) | ($9) | ($9) | ($8) | |
| Net cash used by financing activities | ($303.2m) | ($508.2m) | ($478.5m) | ($451.6m) | $477.4m | ($1.4b) | ($428.2m) | ($721.8m) | ($550.4m) | ($605.7m) | |
| Net Cash Provided by (Used in) Financing Activities | ($304.1m) | ($509.0m) | ($478.5m) | ($451.6m) | $477.4m | ($1.4b) | ($428.2m) | ($721.8m) | ($550.4m) | — | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | ($36.6m) | ($24.6m) | ($5.6m) | ($12.4m) | — | |
| Effect of exchange rate changes on cash and cash equivalents | $3.0m | $31.3m | ($20.5m) | ($11.4m) | $32.0m | ($36.6m) | ($24.6m) | ($5.6m) | ($12.4m) | $18.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $51.4m | $1.1b | ($408.9m) | ($691.8m) | $156.9m | $40.4m | — | |
| (Decrease) increase in cash and cash equivalents | $173.7m | ($236.2m) | ($41.9m) | $51.4m | $1.1b | ($408.9m) | ($691.8m) | $156.9m | $40.4m | ($46.5m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | $1.2b | $550.7m | $707.6m | $748.0m | — | |
| Cash and cash equivalents at beginning of year | $556.4m | $730.1m | $493.9m | $452.0m | $503.4m | $1.7b | $550.7m | $707.6m | $748.0m | $701.5m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | $165.6m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.