Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENT INFORMATION

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BUSINESS SEGMENT INFORMATION
 6 Months Ended
Jun. 29, 2024
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 2023 Annual Report on Form 10-K. Corporate and other expenses, including certain restructuring and transformation costs, 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 June Six Months Ended June
(In thousands) 2024 2023 2024 2023
Segment revenues:
Wrangler $ 429,245  $ 425,485  $ 838,739  $ 848,632 
Lee 175,299  188,008  394,742  428,657 
Total reportable segment revenues 604,544  613,493  1,233,481  1,277,289 
Other revenues 2,354  2,516  4,619  5,843 
Total net revenues $ 606,898  $ 616,009  $ 1,238,100  $ 1,283,132 
Segment profit:
Wrangler $ 88,339  $ 70,976  $ 163,005  $ 142,083 
Lee 13,367  17,165  48,461  56,738 
Total reportable segment profit $ 101,706  $ 88,141  $ 211,466  $ 198,821 
Corporate and other expenses (28,378) (27,660) (56,438) (45,724)
Interest expense (10,382) (9,663) (19,674) (19,936)
Interest income 2,616  691  5,041  1,110 
Loss related to other revenues (1,106) (236) (1,259) (129)
Income before income taxes $ 64,456  $ 51,273  $ 139,136  $ 134,142