±«ÓãÖ±²¥

Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.21.2
REVENUES
 6 Months Ended
Oct. 02, 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) September 2021 March 2021 September 2020
Contract assets (a)
$ 1,773Ìý $ 880Ìý $ 2,573Ìý
Contract liabilities (b)
58,841Ìý 49,869Ìý 44,010Ìý
(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 2021, the Company recognized $71.0Ìýmillion and $162.0 million, 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.
Performance Obligations
As of September 2021, the Company expects to recognize $80.8 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 through March 2031. 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 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 and six months ended September 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 September 2021
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 1,132,068Ìý $ 605,523Ìý $ 252,016Ìý $ 278Ìý $ 1,989,885Ìý
Direct-to-consumer 371,109Ìý 780,826Ìý 40,140Ìý —Ìý 1,192,075Ìý
Royalty 3,444Ìý 5,824Ìý 7,007Ìý —Ìý 16,275Ìý
Total $ 1,506,621Ìý $ 1,392,173Ìý $ 299,163Ìý $ 278Ìý $ 3,198,235Ìý
Geographic revenues
United States $ 691,538Ìý $ 714,085Ìý $ 209,370Ìý $ 278Ìý $ 1,615,271Ìý
International:
Europe 536,522Ìý 410,670Ìý 25,420Ìý —Ìý 972,612Ìý
Asia-Pacific 182,302Ìý 188,178Ìý 48,061Ìý —Ìý 418,541Ìý
Americas (non-U.S.) 96,259Ìý 79,240Ìý 16,312Ìý —Ìý 191,811Ìý
Total $ 1,506,621Ìý $ 1,392,173Ìý $ 299,163Ìý $ 278Ìý $ 3,198,235Ìý
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:
Europe 414,054Ìý 372,012Ìý 31,104Ìý 164Ìý 817,334Ìý
Asia-Pacific 155,696Ìý 172,004Ìý 43,758Ìý —Ìý 371,458Ìý
Americas (non-U.S.) 61,981Ìý 69,809Ìý 17,231Ìý —Ìý 149,021Ìý
Total $ 1,154,407Ìý $ 1,200,202Ìý $ 253,551Ìý $ 164Ìý $ 2,608,324Ìý
Six Months Ended September 2021
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 1,466,943Ìý $ 1,151,548Ìý $ 478,887Ìý $ 278Ìý $ 3,097,656Ìý
Direct-to-consumer 650,767Ìý 1,532,061Ìý 82,952Ìý —Ìý 2,265,780Ìý
Royalty 6,665Ìý 10,632Ìý 12,059Ìý —Ìý 29,356Ìý
Total $ 2,124,375Ìý $ 2,694,241Ìý $ 573,898Ìý $ 278Ìý $ 5,392,792Ìý
Geographic revenues
United States $ 974,696Ìý $ 1,409,920Ìý $ 426,896Ìý $ 278Ìý $ 2,811,790Ìý
International:
Europe 755,077Ìý 717,886Ìý 39,616Ìý —Ìý 1,512,579Ìý
Asia-Pacific 270,362Ìý 426,651Ìý 74,200Ìý —Ìý 771,213Ìý
Americas (non-U.S.) 124,240Ìý 139,784Ìý 33,186Ìý —Ìý 297,210Ìý
Total $ 2,124,375Ìý $ 2,694,241Ìý $ 573,898Ìý $ 278Ìý $ 5,392,792Ìý
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:
Europe 513,078Ìý 497,538Ìý 44,405Ìý 1,483Ìý 1,056,504Ìý
Asia-Pacific 234,963Ìý 334,418Ìý 68,267Ìý —Ìý 637,648Ìý
Americas (non-U.S.) 72,441Ìý 87,678Ìý 27,219Ìý —Ìý 187,338Ìý
Total $ 1,495,635Ìý $ 1,771,518Ìý $ 415,981Ìý $ 1,483Ìý $ 3,684,617Ìý