REVENUES |
REVENUES Disaggregation of Revenue
The following tables present revenues disaggregated by channel and geography. Revenues from licensing arrangements are 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 sales from company-operated Wrangler® and Lee® branded full-price and outlet stores, online and international concession arrangements.
Other includes sales and licensing of Rock & Republic®, other company-owned brands and private label apparel.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 2023 |
|
|
|
|
|
|
|
|
|
|
(In thousands) |
Wrangler |
|
Lee |
|
Other |
|
Total |
|
|
|
|
|
|
|
|
|
Channel revenues |
|
|
|
|
|
|
|
|
U.S. Wholesale |
$ |
355,608 |
|
|
$ |
103,564 |
|
|
$ |
1,799 |
|
|
$ |
460,971 |
|
|
Non-U.S. Wholesale |
53,644 |
|
|
71,433 |
|
|
— |
|
|
125,077 |
|
|
Direct-to-Consumer |
35,287 |
|
|
33,030 |
|
|
175 |
|
|
68,492 |
|
|
|
|
|
|
|
|
|
|
|
Total |
$ |
444,539
|
|
|
$ |
208,027
|
|
|
$ |
1,974
|
|
|
$ |
654,540
|
|
|
|
|
|
|
|
|
|
|
|
Geographic revenues |
|
|
|
|
|
|
|
|
U.S. |
$ |
385,501 |
|
|
$ |
118,352 |
|
|
$ |
1,974 |
|
|
$ |
505,827 |
|
|
International |
59,038 |
|
|
89,675 |
|
|
— |
|
|
148,713 |
|
|
Total |
$ |
444,539
|
|
|
$ |
208,027
|
|
|
$ |
1,974
|
|
|
$ |
654,540
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 2022 |
|
|
|
|
|
|
|
|
|
|
(In thousands) |
Wrangler |
|
Lee |
|
Other |
|
Total |
|
Channel revenues |
|
|
|
|
|
|
|
|
U.S. Wholesale |
$ |
324,564 |
|
|
$ |
84,122 |
|
|
$ |
1,771 |
|
|
$ |
410,457 |
|
|
Non-U.S. Wholesale |
50,448 |
|
|
81,682 |
|
|
28 |
|
|
132,158 |
|
|
Direct-to-Consumer |
31,149 |
|
|
32,661 |
|
|
96 |
|
|
63,906 |
|
|
|
|
|
|
|
|
|
|
|
Total |
$ |
406,161
|
|
|
$ |
198,465
|
|
|
$ |
1,895
|
|
|
$ |
606,521
|
|
|
|
|
|
|
|
|
|
|
|
Geographic revenues |
|
|
|
|
|
|
|
|
U.S. |
$ |
351,624 |
|
|
$ |
98,862 |
|
|
$ |
1,867 |
|
|
$ |
452,353 |
|
|
International |
54,537 |
|
|
99,603 |
|
|
28 |
|
|
154,168 |
|
|
Total |
$ |
406,161
|
|
|
$ |
198,465
|
|
|
$ |
1,895
|
|
|
$ |
606,521
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 2023 |
|
|
|
|
|
|
|
|
|
|
(In thousands) |
Wrangler |
|
Lee |
|
Other |
|
Total |
|
|
|
|
|
|
|
|
|
Channel revenues |
|
|
|
|
|
|
|
|
U.S. Wholesale |
$ |
1,048,491 |
|
|
$ |
337,081 |
|
|
$ |
7,393 |
|
|
$ |
1,392,965 |
|
|
Non-U.S. Wholesale |
143,667 |
|
|
188,670 |
|
|
10 |
|
|
332,347 |
|
|
Direct-to-Consumer |
101,013 |
|
|
110,933 |
|
|
414 |
|
|
212,360 |
|
|
|
|
|
|
|
|
|
|
|
Total |
$ |
1,293,171
|
|
|
$ |
636,684
|
|
|
$ |
7,817
|
|
|
$ |
1,937,672
|
|
|
|
|
|
|
|
|
|
|
|
Geographic revenues |
|
|
|
|
|
|
|
|
U.S. |
$ |
1,132,741 |
|
|
$ |
382,290 |
|
|
$ |
7,807 |
|
|
$ |
1,522,838 |
|
|
International |
160,430 |
|
|
254,394 |
|
|
10 |
|
|
414,834 |
|
|
Total |
$ |
1,293,171
|
|
|
$ |
636,684
|
|
|
$ |
7,817
|
|
|
$ |
1,937,672
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 2022 |
|
|
|
|
|
|
|
|
|
|
(In thousands) |
Wrangler |
|
Lee |
|
Other |
|
Total |
|
Channel revenues |
|
|
|
|
|
|
|
|
U.S. Wholesale |
$ |
1,003,753 |
|
|
$ |
341,125 |
|
|
$ |
6,425 |
|
|
$ |
1,351,303 |
|
|
Non-U.S. Wholesale |
143,724 |
|
|
212,591 |
|
|
903 |
|
|
357,218 |
|
|
Direct-to-Consumer |
89,051 |
|
|
102,022 |
|
|
242 |
|
|
191,315 |
|
|
|
|
|
|
|
|
|
|
|
Total |
$ |
1,236,528
|
|
|
$ |
655,738
|
|
|
$ |
7,570
|
|
|
$ |
1,899,836
|
|
|
|
|
|
|
|
|
|
|
|
Geographic revenues |
|
|
|
|
|
|
|
|
U.S. |
$ |
1,078,998 |
|
|
$ |
384,035 |
|
|
$ |
6,667 |
|
|
$ |
1,469,700 |
|
|
International |
157,530 |
|
|
271,703 |
|
|
903 |
|
|
430,136 |
|
|
Total |
$ |
1,236,528
|
|
|
$ |
655,738
|
|
|
$ |
7,570
|
|
|
$ |
1,899,836
|
|
|
Contract Balances and Performance Obligations
The following table presents information about contract balances recorded in the Company's balance sheets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
September 2023 |
|
|
December 2022 |
|
September 2022 |
Accounts receivable, net |
|
$ |
236,816 |
|
|
|
$ |
225,858 |
|
|
$ |
234,569 |
|
Contract assets (a)
|
|
8,704 |
|
|
|
5,050 |
|
|
6,599 |
|
Contract liabilities (b)
|
|
1,348 |
|
|
|
1,057 |
|
|
919 |
|
(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 and nine months ended September 2023 and September 2022, no significant revenue was recognized that was included in contract liabilities as of December 2022 and December 2021, respectively. For the three and nine months ended September 2023, no significant revenue was recognized from performance obligations satisfied, or partially satisfied, in prior periods. As of September 2023, the Company has contractual rights under its licensing agreements to receive $62.1 million of fixed consideration related to the future minimum guarantees through December 2028.
|