Kontoor Brands, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

REVENUES (Tables)

REVENUES (Tables)

12 Months Ended

Dec. 28, 2019

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability

The following table presents information about contract balances recorded in the Company's balance sheets:



(In thousands)	December 2019		December 2018
Accounts receivable, net	$	228,459	$	252,966
Contract assets ^(a)	10,679		2,841
Contract liabilities ^(b)	1,775		2,311


^(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.

Disaggregation of Revenue

The following tables present revenues disaggregated by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues are affected by economic factors. Revenues from licensing arrangements have been included within the U.S. or Non-U.S. Wholesale channels, based on the respective region covered by the agreement. Branded Direct-to-Consumer revenues include the distribution of our products via concession retail locations internationally, Wrangler^® and Lee^® branded full-price

stores globally and Company-owned outlet stores globally. The Branded Direct-to-Consumer channel also includes sales of our branded products in U.S.-based VF Outlet™ stores and digital sales via www.wrangler.com and www.lee.com.

The Other channel includes sales of third-party branded merchandise at VF Outlet™ stores and sales of products manufactured for third-parties. Sales of Wrangler^® and Lee^® branded products at VF Outlet™ stores are not included in Other and are reported in the Branded Direct-to-Consumer channel discussed above. The Other channel also includes transactions with VF for pre-Separation activities, none of which will continue going forward. These transactions include sales of VF-branded products at VF Outlet™ stores, as well as sales to VF for products manufactured in our plants, use of our transportation fleet and fulfillment of a transition services agreement related to VF’s sale of its Nautica^® brand business in mid-2018.



	Year Ended December 2019


(In thousands)	Wrangler		Lee		Other		Total
Channel revenues
U.S. Wholesale	$	1,198,303	$	391,887	$	22,137	$	1,612,327
Non-U.S. Wholesale	213,905		314,882		1,585		530,372
Branded Direct-To-Consumer	105,904		175,507		27		281,438
Other	—		—		124,702		124,702
Total	$	1,518,112	$	882,276	$	148,451	$	2,548,839

Geographic revenues
U.S.	$	1,282,428	$	481,050	$	146,469	$	1,909,947
International	235,684		401,226		1,982		638,892
Total	$	1,518,112	$	882,276	$	148,451	$	2,548,839



	Year Ended December 2018

(In thousands)	Wrangler		Lee		Other		Total
Channel revenues
U.S. Wholesale	$	1,224,218	$	420,244	$	30,100	$	1,674,562
Non-U.S. Wholesale	263,675		357,471		—		621,146
Branded Direct-To-Consumer	114,313		182,528		—		296,841
Other	—		—		171,449		171,449
Total	$	1,602,206	$	960,243	$	201,549	$	2,763,998

Geographic revenues
U.S.	$	1,303,948	$	509,160	$	201,549	$	2,014,657
International	298,258		451,083		—		749,341
Total	$	1,602,206	$	960,243	$	201,549	$	2,763,998