TRANSACTIONS WITH FORMER PARENT |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 26, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| TRANSACTIONS WITH FORMER PARENT | TRANSACTIONS WITH FORMER PARENT Prior to the Separation, the Company's financial statements were prepared on a carve-out basis and were derived from the consolidated financial statements and accounting records of VF. Refer to Note 1 to the Company's financial statements for a discussion of the methodology used to allocate corporate-related costs for purposes of preparing these financial statements on a carve-out basis. The following discussion summarizes activity between the Company and VF through the Separation date.
Sales and Purchases To and From Former Parent
During the nine months ended September 2019, the Company's sales to VF through the Separation date were $14.1 million, which were included within "net revenues" in the Company's statements of operations. During the nine months ended September 2019, the Company's purchases from VF through the Separation date were $0.5 million, which were included within "cost of goods sold" in the Company's statements of operations. At September 2020, December 2019 and September 2019, the aggregate amount of inventories purchased from VF that remained on the Company's balance sheets was approximately $0.2 million, $0.4 million and $0.5 million, respectively.
Notes To and From Former Parent
All notes to and from former parent were settled in connection with the Separation and there were no remaining balances as of September 2020, December 2019 or September 2019.
During the nine months ended September 2019, the Company recorded net interest income through the Separation date related to these notes of $3.8 million, which was included within "interest income from former parent, net" in the Company's statements of operations.
Due To and From Former Parent
All amounts due to and from former parent were settled in connection with the Separation and there were no remaining balances as of September 2020, December 2019 or September 2019.
Net Transfers To and From VF
Net transfers to and from VF are included within "former parent investment" in the statements of equity.
The following table presents components of the transfers to and from VF:
(a) Activity reflected through the Separation date.
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