Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENT INFORMATION

v3.23.3
BUSINESS SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 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 September Nine Months Ended September
(In thousands) 2023 2022 2023 2022
Segment revenues:
Wrangler $ 444,539  $ 406,161  $ 1,293,171  $ 1,236,528 
Lee 208,027  198,465  636,684  655,738 
Total reportable segment revenues 652,566  604,626  1,929,855  1,892,266 
Other revenues 1,974  1,895  7,817  7,570 
Total net revenues $ 654,540  $ 606,521  $ 1,937,672  $ 1,899,836 
Segment profit:
Wrangler $ 81,556  $ 75,597  $ 223,639  $ 226,049 
Lee 20,735  26,703  77,473  101,837 
Total reportable segment profit $ 102,291  $ 102,300  $ 301,112  $ 327,886 
Corporate and other expenses (20,091) (28,775) (65,815) (60,774)
Interest expense (10,454) (8,858) (30,390) (25,115)
Interest income 964  263  2,074  1,028 
Loss related to other revenues (482) (678) (611) (267)
Income before income taxes $ 72,228  $ 64,252  $ 206,370  $ 242,758