Annual report pursuant to Section 13 and 15(d)

REVENUES

v3.21.1
REVENUES
 12 Months Ended
Apr. 03, 2021
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Contract Balances
Contract assets are rights to consideration in exchange for goods or services that have been transferred to a customer when that right is conditional on something other than the passage of time. Once the Company has an unconditional right to consideration under a contract, amounts are invoiced and contract assets are reclassified to accounts receivable. The Company's primary contract assets relate to sales-based royalty arrangements, which are discussed in more detail within Note 1.
Contract liabilities are recorded when a customer pays consideration, or the Company has a right to an amount of consideration that is unconditional, before the transfer of a good or service to the customer and thus represent the Company's obligation to transfer the good or service to the customer at a future date. The Company's primary contract liabilities relate to gift cards, loyalty programs and sales-based royalty arrangements, which are discussed in more detail within Note 1, and order deposits.
The following table provides information about contract assets and contract liabilities:
(In thousands) March 2021 March 2020
Contract assets (a)
$ 880  $ 1,181 
Contract liabilities (b)
49,869  37,498 
(a)Included in the other current assets line item in the Consolidated Balance Sheets.
(b)Included in the accrued liabilities line item in the Consolidated Balance Sheets.

For the year ended March 2021, the Company recognized $276.2 million of revenue that was included in the contract liability balance during the year, including amounts recorded as a contract liability and subsequently recognized as revenue as performance obligations were satisfied within the same period, primarily related to order deposits from customers. The change in the contract asset and contract liability balances primarily results from the timing differences between the Company's
satisfaction of performance obligations and the customer's payment.
Performance Obligations
As of March 2021, the Company expects to recognize $61.9 million of fixed consideration related to the future minimum guarantees in effect under its licensing agreements
and expects such amounts to be recognized over time based on the contractual terms, with the majority of the revenue recognized by Fiscal 2024.
As of March 2021, there are no arrangements with transaction price allocated to remaining performance obligations other than contracts for which the Company has applied the practical
expedients and fixed consideration related to future minimum guarantees discussed above.
For the year ended March 2021, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not material.
Disaggregation of Revenue
The following tables disaggregate our revenues by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues are affected by economic factors.
Year Ended March 2021
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 2,363,575  $ 1,970,699  $ 734,921  $ 4,372  $ 5,073,567 
Direct-to-consumer 1,753,923  2,167,929  191,409  321  4,113,582 
Royalty 10,103  22,228  19,350  —  51,681 
Total $ 4,127,601  $ 4,160,856  $ 945,680  $ 4,693  $ 9,238,830 
Geographic revenues
United States $ 1,861,090  $ 2,153,605  $ 621,009  $ —  $ 4,635,704 
International:
Europe 1,430,402  1,075,489  107,339  4,693  2,617,923 
Asia-Pacific 639,179  728,072  161,119  —  1,528,370 
Americas (non-U.S.) 196,930  203,690  56,213  —  456,833 
Total $ 4,127,601  $ 4,160,856  $ 945,680  $ 4,693  $ 9,238,830 

Year Ended March 2020
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 2,855,043  $ 2,479,965  $ 723,923  $ 29,976  $ 6,088,907 
Direct-to-consumer 1,775,127  2,417,386  140,924  8,778  4,342,215 
Royalty 13,786  22,076  21,572  —  57,434 
Total $ 4,643,956  $ 4,919,427  $ 886,419  $ 38,754  $ 10,488,556 
Geographic revenues
United States $ 2,289,353  $ 2,626,186  $ 604,778  $ —  $ 5,520,317 
International:
Europe 1,507,398  1,280,798  106,896  24,501  2,919,593 
Asia-Pacific 576,174  659,609  118,756  —  1,354,539 
Americas (non-U.S.) 271,031  352,834  55,989  14,253  694,107 
Total $ 4,643,956  $ 4,919,427  $ 886,419  $ 38,754  $ 10,488,556 
Year Ended March 2019
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 2,865,630  $ 2,460,692  $ 739,465  $ 10,323  $ 6,076,110 
Direct-to-consumer 1,770,580  2,234,053  125,769  —  4,130,402 
Royalty 12,814  27,047  20,514  —  60,375 
Total $ 4,649,024  $ 4,721,792  $ 885,748  $ 10,323  $ 10,266,887 
Geographic revenues
United States $ 2,246,706  $ 2,499,393  $ 589,803  $ 10,323  $ 5,346,225 
International:
Europe 1,543,283  1,292,612  132,224  —  2,968,119 
Asia-Pacific 594,264  593,150  110,525  —  1,297,939 
Americas (non-U.S.) 264,771  336,637  53,196  —  654,604 
Total $ 4,649,024  $ 4,721,792  $ 885,748  $ 10,323  $ 10,266,887