Annual report pursuant to Section 13 and 15(d)

REVENUES

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REVENUES
 12 Months Ended
Mar. 30, 2024
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 2024 March 2023
Contract assets (a)
$ 2,393  $ 2,294 
Contract liabilities (b)
67,115  62,214 
(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 2024, the Company recognized $253.6 million of revenue, which included the majority of the contract liability balance at the beginning of the year, and amounts recorded as a contract liability and subsequently recognized as revenue as performance obligations were satisfied during the year, including 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 2024, the Company expects to recognize $78.5 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 2024, 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.
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 2024
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 3,152,260  $ 1,579,251  $ 690,934  $ —  $ 5,422,445 
Direct-to-consumer 2,330,390  2,458,475  176,284  —  4,965,149 
Royalty 18,749  24,003  24,321  —  67,073 
Total $ 5,501,399  $ 4,061,729  $ 891,539  $ —  $ 10,454,667 
Geographic revenues
Americas $ 2,498,520  $ 2,255,982  $ 710,366  $ —  $ 5,464,868 
Europe 2,080,583  1,234,569  113,420  —  3,428,572 
Asia-Pacific 922,296  571,178  67,753  —  1,561,227 
Total $ 5,501,399  $ 4,061,729  $ 891,539  $ —  $ 10,454,667 
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