Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 30, 2024
Segment Reporting [Abstract]  
The Company has two reportable segments:
Wrangler — Wrangler® branded denim, apparel, footwear and accessories.
Lee — Lee® branded denim, apparel, footwear and accessories.
The Company considers its chief executive officer to be its chief operating decision maker. The chief operating decision maker allocates resources and assesses performance based on the global brand operating results of Wrangler® and Lee®, which are the Company's operating and reportable segments.
In addition, we report an "Other" category to reconcile segment revenues and segment profit to the Company's operating results, but the Other category does not meet the criteria to be considered a reportable segment. Other includes sales and licensing of Rock & Republic®, other company-owned brands and private label apparel.
Accounting policies utilized for internal management reporting at the individual segments are consistent with those disclosed in the Company's 2023 Annual Report on Form 10-K. Corporate and other expenses, including certain restructuring and other transformation costs, and interest income and expense are not controlled by segment management and therefore are excluded from the measurement of segment profit.
The following table presents financial information for the Company's reportable segments and income before income taxes:
  Three Months Ended March
(In thousands) 2024 2023
Segment revenues:
Wrangler $ 409,494  $ 423,147 
Lee 219,443  240,649 
Total reportable segment revenues 628,937  663,796 
Other revenues 2,265  3,327 
Total net revenues $ 631,202  $ 667,123 
Segment profit:
Wrangler $ 74,666  $ 71,107 
Lee 35,094  39,573 
Total reportable segment profit $ 109,760  $ 110,680 
Corporate and other expenses (28,060) (18,064)
Interest expense (9,292) (10,273)
Interest income 2,425  419 
(Loss) profit related to other revenues (153) 107 
Income before income taxes $ 74,680  $ 82,869