Quarterly report [Sections 13 or 15(d)]

RESTRUCTURING (Tables)

v3.25.3
RESTRUCTURING (Tables)
 9 Months Ended
Sep. 27, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Components of Restructuring Charges
The following table summarizes the restructuring charges recorded during the three and nine months ended September 2025 and September 2024:
Three Months Ended September Nine Months Ended September
(In thousands)
2025 2024 2025 2024
Severance and employee-related benefits $ 34,297  $ 386  $ 39,577  $ 4,371 
Asset impairments 3,864  49  3,864  650 
Inventory write-downs —  —  —  1,902 
Other 2,318  1,712  3,679  3,139 
Total restructuring charges $ 40,479  $ 2,147  $ 47,120  $ 10,062 
The following table presents the classification of these restructuring costs in the Company's statements of operations:
Three Months Ended September Nine Months Ended September
(In thousands) 2025 2024 2025 2024
Cost of goods sold $ 38,409  $ 2,049  $ 40,001  $ 8,259 
Selling, general, and administrative expenses 2,070  98  7,119  1,803 
Total $ 40,479  $ 2,147  $ 47,120  $ 10,062 
The following table presents these restructuring costs by business segment:
Three Months Ended September Nine Months Ended September
(In thousands)
2025 2024 2025 2024
Wrangler $ 424  $ 1,823  $ 1,880  $ 7,954 
Lee —  —  —  40 
Corporate and other 40,055  324  45,240  2,068 
Total $ 40,479  $ 2,147  $ 47,120  $ 10,062 
Schedule of Activity in Restructuring
The following table presents activity in the restructuring accrual for the nine-month period ended September 2025:
(In thousands)
Accrual at December 2024 $ 1,895 
Charges(1)
41,667 
Cash payments (20,518)
Adjustments to accruals (398)
Currency translation 43 
Balance, September 2025 $ 22,689 
(1) The Company also recorded approximately $5.5 million of non-cash and other charges related to the closure of a portion of our manufacturing facilities and streamlining and transferring select production within our internal manufacturing network.