Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENT INFORMATION

v3.22.2.2
BUSINESS SEGMENT INFORMATION
 9 Months Ended
Oct. 01, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
The Company has two reportable segments:
•Wrangler — Wrangler® branded denim, apparel and accessories.
•Lee — Lee® branded denim, apparel and accessories.
The chief operating decision maker allocates resources and assesses performance based on a global brand view which determines the Company's operating segments. Operating segments are the basis for the Company's reportable segments.
In addition, we report an "Other" category in order to reconcile segment revenues and segment profit to the Company's operating results, but the Other category is not considered a reportable segment based on evaluation of aggregation criteria. Other primarily includes other revenue sources, including sales and licensing of Rock & Republic® apparel.
Accounting policies utilized for internal management reporting at the individual segments are consistent with those disclosed in the Company's 2021 Annual Report on Form 10-K. Corporate and other expenses and interest income and expense are not controlled by segment management and therefore are excluded from the measurement of segment profit.
The following table presents financial information for the Company's reportable segments and income before income taxes:
  Three Months Ended September Nine Months Ended September
(In thousands) 2022 2021 2022 2021
Segment revenues:
Wrangler $ 406,161  $ 421,508  $ 1,236,528  $ 1,131,631 
Lee 198,465  227,973  655,738  654,135 
Total reportable segment revenues 604,626  649,481  1,892,266  1,785,766 
Other revenues 1,895  2,817  7,570  9,059 
Total net revenues $ 606,521  $ 652,298  $ 1,899,836  $ 1,794,825 
Segment profit:
Wrangler $ 75,597  $ 77,184  $ 226,049  $ 214,001 
Lee 26,703  42,969  101,837  112,583 
Total reportable segment profit $ 102,300  $ 120,153  $ 327,886  $ 326,584 
Corporate and other expenses (28,775) (35,051) (60,774) (113,585)
Interest expense (8,858) (7,156) (25,115) (26,588)
Interest income 263  345  1,028  1,024 
(Loss) profit related to other revenues (678) 202  (267) 261 
Income before income taxes $ 64,252  $ 78,493  $ 242,758  $ 187,696