Quarterly report pursuant to Section 13 or 15(d)

REVENUES

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REVENUES
 6 Months Ended
Jul. 03, 2021
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Performance Obligations
As of June 2021, there were no arrangements with any transaction price allocated to remaining performance obligations other than (i) contracts for which the Company has applied the practical expedients and (ii) fixed consideration related to future minimum guarantees. For the three and six months ended June 2021, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not significant.
Contract Balances
The following table presents information about contract balances recorded in the Company's balance sheets:
(In thousands) June 2021 December 2020 June 2020
Accounts receivable, net $ 215,297  $ 231,397  $ 153,302 
Contract assets (a)
4,694  5,769  3,113 
Contract liabilities (b)
674  787  1,688 
(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 six months ended June 2021, revenue recognized that was included in contract liabilities as of December 2020 was not significant. For the three and six months ended June 2020, revenue of $0.1 million and $1.2 million, respectively, was recognized that was included in contract liabilities as of December 2019.
As of June 2021, the Company has contractual rights under its licensing agreements to receive $27.0 million of fixed consideration related to the future minimum guarantees through December 2025. The variable consideration is not disclosed as a remaining performance obligation as the licensing arrangements qualify for the sales-based royalty exemption.
Disaggregation of Revenue
The following tables present revenues disaggregated by channel and geography. Revenues from licensing arrangements have been 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 the distribution of our products via Wrangler® and Lee® branded full-price stores and Company-operated outlet stores globally, digital sales at www.wrangler.com and www.lee.com globally and concession retail locations internationally.
The Other channel primarily included sales of third-party branded merchandise at VF Outlet stores through the first quarter of 2021. During 2020, the Company decided to discontinue the sale of third-party branded merchandise in all VF Outlet stores, exit certain VF Outlet stores and convert all remaining locations to Lee Wrangler OutletTM and Lee Wrangler Clearance CenterTM retail stores. Sales of Wrangler® and Lee® branded products in our retail stores are not included in Other and are reported in the Direct-to-Consumer channel discussed above.
Three Months Ended June 2021
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 245,200  $ 79,312  $ 2,434  $ 326,946 
Non-U.S. Wholesale 41,071  55,690  805  97,566 
Direct-to-Consumer 25,030  41,012  8  66,050 
Other —  —  203  203 
Total $ 311,301  $ 176,014  $ 3,450  $ 490,765 
Geographic revenues
U.S. $ 266,146  $ 96,179  $ 2,645  $ 364,970 
International 45,155  79,835  805  125,795 
Total $ 311,301  $ 176,014  $ 3,450  $ 490,765 
Three Months Ended June 2020
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 217,183  $ 33,194  $ 2,503  $ 252,880 
Non-U.S. Wholesale 17,251  27,005  —  44,256 
Direct-to-Consumer 17,221  25,767  1  42,989 
Other —  —  9,129  9,129 
Total $ 251,655  $ 85,966  $ 11,633  $ 349,254 
Geographic revenues
U.S. $ 232,566  $ 44,119  $ 11,633  $ 288,318 
International 19,089  41,847  —  60,936 
Total $ 251,655  $ 85,966  $ 11,633  $ 349,254 
Six Months Ended June 2021
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 574,899  $ 203,894  $ 4,160  $ 782,953 
Non-U.S. Wholesale 88,648  146,490  1,442  236,580 
Direct-to-Consumer 46,576  75,778  13  122,367 
Other —  —  627  627 
Total $ 710,123  $ 426,162  $ 6,242  $ 1,142,527 
Geographic revenues
U.S. $ 614,025  $ 234,411  $ 4,800  $ 853,236 
International 96,098  191,751  1,442  289,291 
Total $ 710,123  $ 426,162  $ 6,242  $ 1,142,527 
Six Months Ended June 2020
(In thousands) Wrangler Lee Other Total
Channel revenues
U.S. Wholesale $ 453,465  $ 125,772  $ 6,564  $ 585,801 
Non-U.S. Wholesale 64,188  86,858  304  151,350 
Direct-to-Consumer 37,388  56,092  3  93,483 
Other —  —  23,118  23,118 
Total $ 555,041  $ 268,722  $ 29,989  $ 853,752 
Geographic revenues
U.S. $ 485,150  $ 152,087  $ 29,685  $ 666,922 
International 69,891  116,635  304  186,830 
Total $ 555,041  $ 268,722  $ 29,989  $ 853,752