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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] Ìý
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)
$ 880Ìý $ 1,181Ìý
Contract liabilities (b)
49,869Ìý 37,498Ìý
(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 $61.9Ìýmillion 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 $ 2,363,575Ìý $ 1,970,699Ìý $ 734,921Ìý $ 4,372Ìý $ 5,073,567Ìý
Direct-to-consumer 1,753,923Ìý 2,167,929Ìý 191,409Ìý 321Ìý 4,113,582Ìý
Royalty 10,103Ìý 22,228Ìý 19,350Ìý —Ìý 51,681Ìý
Total $ 4,127,601Ìý $ 4,160,856Ìý $ 945,680Ìý $ 4,693Ìý $ 9,238,830Ìý
Geographic revenues
United States $ 1,861,090Ìý $ 2,153,605Ìý $ 621,009Ìý $ —Ìý $ 4,635,704Ìý
International:
Europe 1,430,402Ìý 1,075,489Ìý 107,339Ìý 4,693Ìý 2,617,923Ìý
Asia-Pacific 639,179Ìý 728,072Ìý 161,119Ìý —Ìý 1,528,370Ìý
Americas (non-U.S.) 196,930Ìý 203,690Ìý 56,213Ìý —Ìý 456,833Ìý
Total $ 4,127,601Ìý $ 4,160,856Ìý $ 945,680Ìý $ 4,693Ìý $ 9,238,830Ìý

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