±«ÓãÖ±²¥

Quarterly report [Sections 13 or 15(d)]

REVENUES

v3.25.3
REVENUES
 6 Months Ended
Sep. 27, 2025
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 2025 March 2025 September 2024
Contract assets (a)
$ 2,356Ìý $ 2,448Ìý $ 4,392Ìý
Contract liabilities (b)
66,714Ìý 78,421Ìý 66,693Ìý
(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 2025, the Company recognized $47.3 million and $100.6 million, respectively, 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 timing differences between the Company's satisfaction of performance obligations and the customer's payment.
Performance Obligations
As of September 2025, the Company expects to recognize $51.2 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 2025, 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 Revenues
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 2025 (a)
(In thousands) Outdoor Active
All Other (b)
Total
Channel revenues
Wholesale $ 1,205,106Ìý $ 378,142Ìý $ 293,699Ìý $ 1,876,947Ìý
Direct-to-consumer 455,075Ìý 376,800Ìý 77,986Ìý 909,861Ìý
Royalty 3,298Ìý 5,808Ìý 6,792Ìý 15,898Ìý
Total $ 1,663,479Ìý $ 760,750Ìý $ 378,477Ìý $ 2,802,706Ìý
Geographic revenues
Americas $ 695,600Ìý $ 435,413Ìý $ 212,479Ìý $ 1,343,492Ìý
Europe 667,700Ìý 261,440Ìý 143,515Ìý 1,072,655Ìý
Asia-Pacific 300,179Ìý 63,897Ìý 22,483Ìý 386,559Ìý
Total $ 1,663,479Ìý $ 760,750Ìý $ 378,477Ìý $ 2,802,706Ìý
Three Months Ended September 2024 (a)
(In thousands) Outdoor Active
All Other (b)
Total
Channel revenues
Wholesale $ 1,136,994Ìý $ 404,180Ìý $ 286,622Ìý $ 1,827,796Ìý
Direct-to-consumer 426,748Ìý 413,712Ìý 74,477Ìý 914,937Ìý
Royalty 2,980Ìý 6,644Ìý 5,591Ìý 15,215Ìý
Total $ 1,566,722Ìý $ 824,536Ìý $ 366,690Ìý $ 2,757,948Ìý
Geographic revenues
Americas $ 664,416Ìý $ 482,634Ìý $ 208,808Ìý $ 1,355,858Ìý
Europe 609,526Ìý 267,807Ìý 132,222Ìý 1,009,555Ìý
Asia-Pacific 292,780Ìý 74,095Ìý 25,660Ìý 392,535Ìý
Total $ 1,566,722Ìý $ 824,536Ìý $ 366,690Ìý $ 2,757,948Ìý
Six Months Ended September 2025 (a)
(In thousands) Outdoor Active
All Other (b)
Total
Channel revenues
Wholesale $ 1,661,937Ìý $ 770,565Ìý $ 468,951Ìý $ 2,901,453Ìý
Direct-to-consumer 807,285Ìý 677,829Ìý 145,410Ìý 1,630,524Ìý
Royalty 6,723Ìý 12,043Ìý 12,629Ìý 31,395Ìý
Total $ 2,475,945Ìý $ 1,460,437Ìý $ 626,990Ìý $ 4,563,372Ìý
Geographic revenues
Americas $ 1,068,447Ìý $ 839,448Ìý $ 373,195Ìý $ 2,281,090Ìý
Europe 940,544Ìý 474,947Ìý 208,427Ìý 1,623,918Ìý
Asia-Pacific 466,954Ìý 146,042Ìý 45,368Ìý 658,364Ìý
Total $ 2,475,945Ìý $ 1,460,437Ìý $ 626,990Ìý $ 4,563,372Ìý
Six Months Ended September 2024 (a)
(In thousands) Outdoor Active
All Other (b)
Total
Channel revenues
Wholesale $ 1,563,998Ìý $ 822,241Ìý $ 455,330Ìý $ 2,841,569Ìý
Direct-to-consumer 750,235Ìý 765,467Ìý 140,190Ìý 1,655,892Ìý
Royalty 6,119Ìý 13,562Ìý 9,866Ìý 29,547Ìý
Total $ 2,320,352Ìý $ 1,601,270Ìý $ 605,386Ìý $ 4,527,008Ìý
Geographic revenues
Americas $ 1,028,096Ìý $ 940,290Ìý $ 363,171Ìý $ 2,331,557Ìý
Europe 854,488Ìý 490,276Ìý 197,127Ìý 1,541,891Ìý
Asia-Pacific 437,768Ìý 170,704Ìý 45,088Ìý 653,560Ìý
Total $ 2,320,352Ìý $ 1,601,270Ìý $ 605,386Ìý $ 4,527,008Ìý
(a)In the first quarter of Fiscal 2026, ±«ÓãÖ±²¥ realigned its reportable segments. The three and six months ended September 2024 have been recast to reflect this change. Refer to Note 15 for additional information regarding the Company's reportable segments.
(b)"All Other" is included for purposes of reconciliation of revenues, but it is not considered a reportable segment. "All Other" includes the Dickies®, Altra®, Smartwool®, Napapijri® and Icebreaker® brands.