BUSINESS SEGMENT INFORMATION (Tables)
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12 Months Ended |
Jan. 01, 2022 |
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| Segment Reporting [Abstract] |
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| Financial Information for Reportable Segments |
The following table presents financial information for the Company's reportable segments and income before income taxes:
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Year Ended December |
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| (In thousands) |
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2021 |
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2020 |
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2019 |
| Segment revenues: |
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| Wrangler |
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$ |
1,575,231 |
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$ |
1,349,414 |
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$ |
1,518,112 |
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| Lee |
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887,052 |
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687,620 |
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882,276 |
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| Total reportable segment revenues |
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2,462,283
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2,037,034
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2,400,388
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| Other revenues |
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13,633 |
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60,805 |
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148,451 |
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| Total net revenues |
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$ |
2,475,916
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$ |
2,097,839
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$ |
2,548,839
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| Segment profit: |
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| Wrangler |
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$ |
294,153 |
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$ |
244,892 |
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$ |
215,008 |
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| Lee |
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128,305 |
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37,912 |
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68,214 |
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| Total reportable segment profit |
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$ |
422,458
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$ |
282,804
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$ |
283,222
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Non-cash impairment of intangible asset (1)
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— |
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— |
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(32,636) |
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| Corporate and other expenses |
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(140,960) |
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(143,065) |
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(90,117) |
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| Interest income from former parent, net |
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— |
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— |
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3,762 |
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| Interest expense |
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(38,900) |
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(49,992) |
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(35,787) |
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| Interest income |
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1,480 |
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1,608 |
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3,931 |
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| Profit (loss) related to other revenues |
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522 |
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(18,419) |
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2,819 |
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| Income before income taxes |
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$ |
244,600
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$ |
72,936
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$ |
135,194
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| Reconciliation Assets |
The following table presents assets for the Company's reportable segments and a reconciliation to total asset balances:
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| (In thousands) |
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December 2021 |
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December 2020 |
| Segment assets: |
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| Wrangler |
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$ |
394,709 |
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$ |
320,087 |
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| Lee |
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247,573 |
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221,217 |
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| Total reportable segment assets |
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642,282
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541,304
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| Other accounts receivable and inventories |
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10,475 |
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30,825 |
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| Total accounts receivable and inventories |
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$ |
652,757
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$ |
572,129
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| Cash and cash equivalents |
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185,322 |
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248,138 |
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| Prepaid expenses and other current assets |
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72,579 |
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81,413 |
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| Property, plant and equipment, net |
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105,155 |
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118,897 |
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| Operating lease assets |
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54,950 |
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60,443 |
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| Goodwill and intangible assets |
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226,851 |
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229,383 |
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| Deferred income tax assets |
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74,876 |
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85,221 |
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| Other assets |
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160,534 |
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150,192 |
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| Total assets |
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$ |
1,533,024
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$ |
1,545,816
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| Revenue from External Customers and Property, Plant, and Equipment by Geographic Area |
The following table presents supplemental information of net revenues by geographic area based on the location of the customer:
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Year Ended December |
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| (In thousands) |
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2021 |
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2020 |
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2019 |
| Revenues: |
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| U.S. |
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$ |
1,868,909 |
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$ |
1,642,152 |
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$ |
1,909,947 |
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| International |
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607,007 |
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455,687 |
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638,892 |
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| Total |
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$ |
2,475,916
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$ |
2,097,839
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$ |
2,548,839
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The following table presents "property, plant and equipment, net" recorded in the Company's balance sheets by geographic area based on physical location:
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| (In thousands) |
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December 2021 |
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December 2020 |
| Property, plant and equipment, net: |
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| U.S. |
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$ |
63,951 |
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$ |
69,481 |
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| International |
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41,204 |
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49,416 |
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| Total |
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$ |
105,155
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$ |
118,897
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