Annual report [Section 13 and 15(d), not S-K Item 405]

LEASES (Tables)

v3.25.4
LEASES (Tables)
 12 Months Ended
Jan. 03, 2026
Leases [Abstract]  
Schedule of Supplemental Balance Sheet Information
The following table presents lease-related assets and liabilities recorded in the Company's balance sheets:
(In thousands) December 2025 December 2024
Assets
Operating lease assets, noncurrent (a)
$ 141,579  $ 47,171 
Total lease assets $ 141,579  $ 47,171 
Liabilities
Operating lease liabilities, current (b)
$ 33,663  $ 20,890 
Operating lease liabilities, noncurrent (c)
116,877  29,955 
Total lease liabilities $ 150,540  $ 50,845 
Weighted-average remaining lease term (in years)
Operating leases 5.42 4.00
Weighted-average discount rate
Operating leases 5.80  % 5.76  %
(a) "Operating lease assets, noncurrent" at December 2025 includes $85.8 million related to Helly Hansen.
(b) "Operating lease liabilities, current" at December 2025 includes $14.2 million related to Helly Hansen.
(c) "Operating lease liabilities, noncurrent" at December 2025 includes $77.2 million related to Helly Hansen.
Schedule of Lease Costs
The following table presents certain information related to lease costs for operating leases:
Year Ended December
(In thousands) 2025 2024 2023
Operating lease costs (a)
$ 44,326  $ 29,163  $ 31,543 
Short-term lease costs (excluding leases of one month or less) 733  558  603 
Variable lease costs 5,898  4,929  4,070 
Total lease costs $ 50,957  $ 34,650  $ 36,216 
(a) "Operating lease costs" for the year ended December 2025 include $13.9 million related to Helly Hansen.
The following table presents supplemental cash flow and non-cash information related to operating leases:
Year Ended December
(In thousands) 2025 2024 2023
Cash paid for amounts included in the measurement of lease liabilities - operating cash flows $ 43,276  $ 33,037  $ 31,457 
Right-of-use operating lease assets obtained in exchange for new operating lease liabilities - non-cash activity (a)
$ 114,426  $ 7,891  $ 14,964 
(a) Includes $96.6 million related to the right-of-use operating lease assets obtained in the Acquisition on May 31, 2025
Schedule of Maturities of Operating Leases
The following table presents future maturities of operating lease liabilities as of December 2025:
(In thousands) Lease Obligations
2026 $ 43,665 
2027 35,693 
2028 26,871 
2029 24,165 
2030 21,014 
Thereafter 31,124 
Total future minimum lease payments 182,532 
Less: amounts related to imputed interest (31,992)
Present value of future minimum lease payments 150,540 
Less: operating lease liabilities, current (33,663)
Operating lease liabilities, noncurrent $ 116,877