Quarterly report pursuant to Section 13 or 15(d)

REVENUES

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REVENUES
 3 Months Ended
Apr. 03, 2021
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Performance Obligations
As of March 2021, there were no arrangements with transaction price allocated to remaining performance obligations other than (i) contracts for which the Company has applied the practical expedients and (ii) fixed consideration related to future minimum guarantees. For the three months ended March 2021, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not significant.
Contract Balances
The following table presents information about contract balances recorded in the Company's balance sheets:
(In thousands) March 2021 December 2020 March 2020
Accounts receivable, net $ 221,031  $ 231,397  $ 213,080 
Contract assets (a)
4,359  5,769  5,715 
Contract liabilities (b)
786  787  1,690 
(a) Included within "prepaid expenses and other current assets" in the Company's balance sheets.
(b) Included within "accrued liabilities" in the Company's balance sheets.
For the three months ended March 2021, revenue recognized that was included in contract liabilities as of December 2020 was not significant. For the three months ended March 2020, $1.1 million of revenue was recognized that was included in contract liabilities as of December 2019.
As of March 2021, the Company has contractual rights under its licensing agreements to receive $26.6 million of fixed consideration related to the future minimum guarantees through December 2025. The variable consideration is not disclosed as a remaining performance obligation as the licensing arrangements qualify for the sales-based royalty exemption.
Disaggregation of Revenue
The following tables present revenues disaggregated by channel and geography. Revenues from licensing arrangements have been included within the U.S. or Non-U.S. Wholesale channels, based on the respective region where the licensee sells the product. Direct-to-Consumer revenues include the distribution of our products via Wrangler® and Lee® branded full-price stores and Company-operated outlet stores globally, digital sales via www.wrangler.com and www.lee.com globally and concession retail locations internationally.
The Other channel primarily included sales of third-party branded merchandise at VF Outlet™ stores. During 2020, the Company decided to discontinue the sale of third-party branded merchandise. Sales of Wrangler® and Lee® branded products at VF Outlet™ are not included in Other and are reported in the Direct-to-Consumer channel discussed above.
Three Months Ended March 2021
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 329,699  $ 124,582  $ 1,726  $ 456,007 
Non-U.S. Wholesale 47,577  90,800  637  139,014 
Direct-to-Consumer 21,546  34,766  5  56,317 
Other —  —  424  424 
Total $ 398,822  $ 250,148  $ 2,792  $ 651,762 
Geographic revenues
U.S. $ 347,879  $ 138,232  $ 2,155  $ 488,266 
International 50,943  111,916  637  163,496 
Total $ 398,822  $ 250,148  $ 2,792  $ 651,762 
Three Months Ended March 2020
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 236,282  $ 92,578  $ 4,061  $ 332,921 
Non-U.S. Wholesale 46,937  59,853  304  107,094 
Direct-to-Consumer 20,167  30,325  2  50,494 
Other —  —  13,989  13,989 
Total $ 303,386  $ 182,756  $ 18,356  $ 504,498 
Geographic revenues
U.S. $ 252,584  $ 107,968  $ 18,052  $ 378,604 
International 50,802  74,788  304  125,894 
Total $ 303,386  $ 182,756  $ 18,356  $ 504,498