Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENT INFORMATION

v3.23.1
BUSINESS SEGMENT INFORMATION
 3 Months Ended
Apr. 01, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
The Company has two reportable segments:
•Wrangler — Wrangler® branded denim, apparel, footwear and accessories.
•Lee — Lee® branded denim, apparel, footwear and accessories.
The Company considers its chief executive officer to be its chief operating decision maker. The chief operating decision maker allocates resources and assesses performance based on the global brand operating results of Wrangler® and Lee®, which are the Company's operating and reportable segments.
In addition, we report an "Other" category to reconcile segment revenues and segment profit to the Company's operating results, but the Other category does not meet the criteria to be considered a reportable segment. Other includes sales and licensing of Rock & Republic®, other company-owned brands and private label apparel.
Accounting policies utilized for internal management reporting at the individual segments are consistent with those disclosed in the Company's 2022 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 March
(In thousands) 2023 2022
Segment revenues:
Wrangler $ 423,147  $ 412,423 
Lee 240,649  264,220 
Total reportable segment revenues 663,796  676,643 
Other revenues 3,327  3,100 
Total net revenues $ 667,123  $ 679,743 
Segment profit:
Wrangler $ 71,107  $ 75,388 
Lee 39,573  52,230 
Total reportable segment profit $ 110,680  $ 127,618 
Corporate and other expenses (18,064) (19,982)
Interest expense (10,273) (8,023)
Interest income 419  469 
Profit related to other revenues 107  363 
Income before income taxes $ 82,869  $ 100,445