Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENT INFORMATION

v3.24.3
BUSINESS SEGMENT INFORMATION
 9 Months Ended
Sep. 28, 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 September Nine Months Ended September
(In thousands) 2024 2023 2024 2023
Segment revenues:
Wrangler $ 464,107  $ 444,539  $ 1,302,846  $ 1,293,171 
Lee 202,343  208,027  597,085  636,684 
Total reportable segment revenues 666,450  652,566  1,899,931  1,929,855 
Other revenues 3,744  1,974  8,363  7,817 
Total net revenues $ 670,194  $ 654,540  $ 1,908,294  $ 1,937,672 
Segment profit:
Wrangler $ 97,753  $ 81,556  $ 260,758  $ 223,639 
Lee 23,355  20,735  71,816  77,473 
Total reportable segment profit $ 121,108  $ 102,291  $ 332,574  $ 301,112 
Corporate and other expenses (26,307) (20,091) (82,745) (65,815)
Interest expense (11,178) (10,454) (30,852) (30,390)
Interest income 2,965  964  8,006  2,074 
Profit (loss) related to other revenues 185  (482) (1,074) (611)
Income before income taxes $ 86,773  $ 72,228  $ 225,909  $ 206,370