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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.21.2
REVENUES
 3 Months Ended
Jul. 03, 2021
Revenue from Contract with Customer [Abstract] Ìý
REVENUES REVENUES
Contract Balances
The following table provides information about contract assets and contract liabilities:
(In thousands) June 2021 March 2021 June 2020
Contract assets (a)
$ 1,135Ìý $ 880Ìý $ 2,487Ìý
Contract liabilities (b)
68,921Ìý 49,869Ìý 45,622Ìý
(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 months ended June 2021, the Company recognized $91.0Ìýmillion of revenue that was included in the contract liability balance during the period, 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 June 2021, the Company expects to recognize $63.8 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
2025. 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 June 2021, 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 three months ended June 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.
Three Months Ended June 2021
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 334,875Ìý $ 546,025Ìý $ 226,871Ìý $ —Ìý $ 1,107,771Ìý
Direct-to-consumer 279,658Ìý 751,235Ìý 42,812Ìý —Ìý 1,073,705Ìý
Royalty 3,221Ìý 4,808Ìý 5,052Ìý —Ìý 13,081Ìý
Total $ 617,754Ìý $ 1,302,068Ìý $ 274,735Ìý $ —Ìý $ 2,194,557Ìý
Geographic revenues
United States $ 283,158Ìý $ 695,835Ìý $ 217,526Ìý $ —Ìý $ 1,196,519Ìý
International:
Europe 218,555Ìý 307,216Ìý 14,196Ìý —Ìý 539,967Ìý
Asia-Pacific 88,060Ìý 238,473Ìý 26,139Ìý —Ìý 352,672Ìý
Americas (non-U.S.) 27,981Ìý 60,544Ìý 16,874Ìý —Ìý 105,399Ìý
Total $ 617,754Ìý $ 1,302,068Ìý $ 274,735Ìý $ —Ìý $ 2,194,557Ìý
Three Months Ended June 2020
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 158,506Ìý $ 241,164Ìý $ 117,604Ìý $ 1,275Ìý $ 518,549Ìý
Direct-to-consumer 180,014Ìý 324,201Ìý 40,615Ìý 44Ìý 544,874Ìý
Royalty 2,708Ìý 5,951Ìý 4,211Ìý —Ìý 12,870Ìý
Total $ 341,228Ìý $ 571,316Ìý $ 162,430Ìý $ 1,319Ìý $ 1,076,293Ìý
Geographic revenues
United States $ 152,477Ìý $ 265,507Ìý $ 114,632Ìý $ —Ìý $ 532,616Ìý
International:
Europe 99,024Ìý 125,526Ìý 13,301Ìý 1,319Ìý 239,170Ìý
Asia-Pacific 79,267Ìý 162,414Ìý 24,509Ìý —Ìý 266,190Ìý
Americas (non-U.S.) 10,460Ìý 17,869Ìý 9,988Ìý —Ìý 38,317Ìý
Total $ 341,228Ìý $ 571,316Ìý $ 162,430Ìý $ 1,319Ìý $ 1,076,293Ìý