±«ÓãÖ±²¥

Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.20.2
REVENUES
 6 Months Ended
Sep. 26, 2020
Revenue from Contract with Customer [Abstract] Ìý
REVENUES REVENUES
The following table provides information about accounts receivable, contract assets and contract liabilities:
(In thousands) September 2020 March 2020 September 2019
Accounts receivable, net $ 1,606,479Ìý $ 1,308,051Ìý $ 1,881,374Ìý
Contract assets (a)
2,573Ìý 1,181Ìý 2,433Ìý
Contract liabilities (b)
44,010Ìý 37,498Ìý 39,346Ìý
(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 three and six months ended September 2020, the Company recognized $85.1 million and $120.7Ìýmillion, respectively, of revenue that was included in the contract liability balance during the periods, 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.
For the three and six months ended September 2020, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not material.
As of September 2020, the Company expects to recognize $55.5 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, including $9.1Ìýmillion during the remainder of Fiscal 2021. The variable consideration related to licensing arrangements is not disclosed as a remaining performance obligation as it qualifies for the sales-based royalty exemption. ±«ÓãÖ±²¥ has also elected the practical expedient to not disclose the transaction price allocated to remaining performance obligations for contracts with an original expected duration of one year or less.
As of September 2020, 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 were affected by economic factors. The wholesale channel includes fees generated from sourcing activities as the customers and point-in-time revenue recognition are similar to other wholesale arrangements.
Three Months Ended September 2020
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 823,954Ìý $ 664,868Ìý $ 208,902Ìý $ —Ìý $ 1,697,724Ìý
Direct-to-consumer 329,661Ìý 530,231Ìý 40,028Ìý 164Ìý 900,084Ìý
Royalty 792Ìý 5,103Ìý 4,621Ìý —Ìý 10,516Ìý
Total $ 1,154,407Ìý $ 1,200,202Ìý $ 253,551Ìý $ 164Ìý $ 2,608,324Ìý
Geographic revenues
United States $ 522,676Ìý $ 586,377Ìý $ 161,458Ìý $ —Ìý $ 1,270,511Ìý
International 631,731Ìý 613,825Ìý 92,093Ìý 164Ìý 1,337,813Ìý
Total $ 1,154,407Ìý $ 1,200,202Ìý $ 253,551Ìý $ 164Ìý $ 2,608,324Ìý
Three Months Ended September 2019
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 1,175,422Ìý $ 709,770Ìý $ 186,482Ìý $ 15,172Ìý $ 2,086,846Ìý
Direct-to-consumer 347,684Ìý 697,627Ìý 30,453Ìý 2,898Ìý 1,078,662Ìý
Royalty 2,831Ìý 6,237Ìý 5,182Ìý —Ìý 14,250Ìý
Total $ 1,525,937Ìý $ 1,413,634Ìý $ 222,117Ìý $ 18,070Ìý $ 3,179,758Ìý
Geographic revenues
United States $ 737,255Ìý $ 711,541Ìý $ 149,523Ìý $ —Ìý $ 1,598,319Ìý
International 788,682Ìý 702,093Ìý 72,594Ìý 18,070Ìý 1,581,439Ìý
Total $ 1,525,937Ìý $ 1,413,634Ìý $ 222,117Ìý $ 18,070Ìý $ 3,179,758Ìý
Six Months Ended September 2020
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 982,460Ìý $ 906,032Ìý $ 326,506Ìý $ 1,275Ìý $ 2,216,273Ìý
Direct-to-consumer 509,675Ìý 854,432Ìý 80,643Ìý 208Ìý 1,444,958Ìý
Royalty 3,500Ìý 11,054Ìý 8,832Ìý —Ìý 23,386Ìý
Total $ 1,495,635Ìý $ 1,771,518Ìý $ 415,981Ìý $ 1,483Ìý $ 3,684,617Ìý
Geographic revenues
United States $ 675,153Ìý $ 851,884Ìý $ 276,090Ìý $ —Ìý $ 1,803,127Ìý
International 820,482Ìý 919,634Ìý 139,891Ìý 1,483Ìý 1,881,490Ìý
Total $ 1,495,635Ìý $ 1,771,518Ìý $ 415,981Ìý $ 1,483Ìý $ 3,684,617Ìý
Six Months Ended September 2019
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 1,517,178Ìý $ 1,369,912Ìý $ 350,762Ìý $ 17,980Ìý $ 3,255,832Ìý
Direct-to-consumer 614,026Ìý 1,263,514Ìý 63,972Ìý 6,352Ìý 1,947,864Ìý
Royalty 5,353Ìý 12,334Ìý 9,029Ìý —Ìý 26,716Ìý
Total $ 2,136,557Ìý $ 2,645,760Ìý $ 423,763Ìý $ 24,332Ìý $ 5,230,412Ìý
Geographic revenues
United States $ 1,040,307Ìý $ 1,422,746Ìý $ 292,154Ìý $ —Ìý $ 2,755,207Ìý
International 1,096,250Ìý 1,223,014Ìý 131,609Ìý 24,332Ìý 2,475,205Ìý
Total $ 2,136,557Ìý $ 2,645,760Ìý $ 423,763Ìý $ 24,332Ìý $ 5,230,412Ìý