Annual report pursuant to Section 13 and 15(d)

REVENUES

v3.23.1
REVENUES
 12 Months Ended
Apr. 01, 2023
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 2023 March 2022
Contract assets (a)
$ 2,294  $ 1,065 
Contract liabilities (b)
62,214  71,067 
(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 2023, the Company recognized $319.2 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, such as 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 2023, the Company expects to recognize $70.5 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 through March 2031.
As of March 2023, there were no arrangements with transaction price allocated to remaining performance obligations other than contracts for which the Company has applied the practical expedients and the fixed consideration related to future minimum guarantees discussed above.
For the year ended March 2023, 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 2023
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 3,375,343  $ 2,082,875  $ 847,729  $ 148  $ 6,306,095 
Direct-to-consumer 2,252,958  2,791,936  186,462  —  5,231,356 
Royalty 19,225  29,811  25,988  —  75,024 
Total $ 5,647,526  $ 4,904,622  $ 1,060,179  $ 148  $ 11,612,475 
Geographic revenues
Americas $ 2,921,383  $ 2,912,666  $ 848,524  $ 148  $ 6,682,721 
Europe 1,960,485  1,343,796  107,414  —  3,411,695 
Asia-Pacific 765,658  648,160  104,241  —  1,518,059 
Total $ 5,647,526  $ 4,904,622  $ 1,060,179  $ 148  $ 11,612,475 
Year Ended March 2022
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 3,194,881  $ 2,256,444  $ 919,080  $ 785  $ 6,371,190 
Direct-to-consumer 2,115,056  3,102,231  186,788  —  5,404,075 
Royalty 17,631  21,663  27,281  —  66,575 
Total $ 5,327,568  $ 5,380,338  $ 1,133,149  $ 785  $ 11,841,840 
Geographic revenues
Americas $ 2,748,935  $ 3,155,870  $ 899,706  $ 785  $ 6,805,296 
Europe 1,877,502  1,432,260  89,537  —  3,399,299 
Asia-Pacific 701,131  792,208  143,906  —  1,637,245 
Total $ 5,327,568  $ 5,380,338  $ 1,133,149  $ 785  $ 11,841,840 

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
Americas $ 2,058,020  $ 2,357,295  $ 677,222  $ —  $ 5,092,537 
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 
Total $ 4,127,601  $ 4,160,856  $ 945,680  $ 4,693  $ 9,238,830