Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.22.1
REVENUES
 3 Months Ended
Apr. 02, 2022
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Contract Balances and Performance Obligations
The following table presents information about contract balances recorded in the Company's balance sheets:
(In thousands) March 2022 December 2021 March 2021
Accounts receivable, net $ 276,037  $ 289,800  $ 221,031 
Contract assets (a)
4,311  3,093  4,359 
Contract liabilities (b)
1,787  2,258  786 
(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 2022 and March 2021, revenue recognized that was included in contract liabilities as of December 2021 and December 2020, respectively, was not significant.
As of March 2022, the Company has contractual rights under its licensing agreements to receive $27.5 million of fixed consideration related to the future minimum guarantees through December 2027. As of March 2022, there were no arrangements with any 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 2022, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not significant. The variable consideration under these arrangements 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, digital sales at www.wrangler.com and www.lee.com and international concession arrangements.
Other primarily includes other revenue sources, including sales and licensing of Rock & Republic® apparel. Other also included sales of third-party branded merchandise at company owned outlet stores through the first quarter of 2021.
Three Months Ended March 2022
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 330,652  $ 136,806  $ 2,527  $ 469,985 
Non-U.S. Wholesale 52,819  91,051  501  144,371 
Direct-to-Consumer 28,952  36,363  72  65,387 
Total $ 412,423  $ 264,220  $ 3,100  $ 679,743 
Geographic revenues
U.S. $ 354,393  $ 150,116  $ 2,599  $ 507,108 
International 58,030  114,104  501  172,635 
Total $ 412,423  $ 264,220  $ 3,100  $ 679,743 
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