ÂÒÂ×°ÍÊ¿

Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.24.3
REVENUES
 6 Months Ended
Sep. 28, 2024
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 2024 March 2024 September 2023
Contract assets (a)
$ 4,392Ìý $ 2,393Ìý $ 3,267Ìý
Contract liabilities (b)
66,693Ìý 66,130Ìý 60,664Ìý
(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 2024, the Company recognized $52.4 million and $97.4 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 2024, the Company expects to recognize $69.7 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. ÂÒÂ×°ÍÊ¿ 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 2024, 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 2024
(In thousands) Outdoor Active Work Total
Channel revenues
Wholesale $ 1,204,940Ìý $ 442,863Ìý $ 179,993Ìý $ 1,827,796Ìý
Direct-to-consumer 450,858Ìý 430,261Ìý 33,818Ìý 914,937Ìý
Royalty 2,874Ìý 6,643Ìý 5,698Ìý 15,215Ìý
Total $ 1,658,672Ìý $ 879,767Ìý $ 219,509Ìý $ 2,757,948Ìý
Geographic revenues
Americas $ 703,094Ìý $ 482,634Ìý $ 170,130Ìý $ 1,355,858Ìý
Europe 651,870Ìý 323,038Ìý 34,647Ìý 1,009,555Ìý
Asia-Pacific 303,708Ìý 74,095Ìý 14,732Ìý 392,535Ìý
Total $ 1,658,672Ìý $ 879,767Ìý $ 219,509Ìý $ 2,757,948Ìý
Three Months Ended September 2023
(In thousands) Outdoor Active Work Total
Channel revenues
Wholesale $ 1,275,543Ìý $ 437,003Ìý $ 192,620Ìý $ 1,905,166Ìý
Direct-to-consumer 433,071Ìý 524,429Ìý 39,957Ìý 997,457Ìý
Royalty 5,065Ìý 6,739Ìý 5,696Ìý 17,500Ìý
Total $ 1,713,679Ìý $ 968,171Ìý $ 238,273Ìý $ 2,920,123Ìý
Geographic revenues
Americas $ 795,748Ìý $ 523,464Ìý $ 186,868Ìý $ 1,506,080Ìý
Europe 657,206Ìý 351,606Ìý 33,946Ìý 1,042,758Ìý
Asia-Pacific 260,725Ìý 93,101Ìý 17,459Ìý 371,285Ìý
Total $ 1,713,679Ìý $ 968,171Ìý $ 238,273Ìý $ 2,920,123Ìý
Six Months Ended September 2024
(In thousands) Outdoor Active Work Total
Channel revenues
Wholesale $ 1,646,821Ìý $ 878,111Ìý $ 316,637Ìý $ 2,841,569Ìý
Direct-to-consumer 796,148Ìý 791,993Ìý 67,751Ìý 1,655,892Ìý
Royalty 5,902Ìý 13,561Ìý 10,084Ìý 29,547Ìý
Total $ 2,448,871Ìý $ 1,683,665Ìý $ 394,472Ìý $ 4,527,008Ìý
Geographic revenues
Americas $ 1,076,494Ìý $ 940,290Ìý $ 314,773Ìý $ 2,331,557Ìý
Europe 916,051Ìý 572,671Ìý 53,169Ìý 1,541,891Ìý
Asia-Pacific 456,326Ìý 170,704Ìý 26,530Ìý 653,560Ìý
Total $ 2,448,871Ìý $ 1,683,665Ìý $ 394,472Ìý $ 4,527,008Ìý
Six Months Ended September 2023
(In thousands) Outdoor Active Work Total
Channel revenues
Wholesale $ 1,765,474Ìý $ 899,266Ìý $ 338,789Ìý $ 3,003,529Ìý
Direct-to-consumer 769,404Ìý 1,003,779Ìý 79,611Ìý 1,852,794Ìý
Royalty 8,498Ìý 12,862Ìý 10,503Ìý 31,863Ìý
Total $ 2,543,376Ìý $ 1,915,907Ìý $ 428,903Ìý $ 4,888,186Ìý
Geographic revenues
Americas $ 1,200,154Ìý $ 1,084,277Ìý $ 340,439Ìý $ 2,624,870Ìý
Europe 945,427Ìý 608,679Ìý 52,947Ìý 1,607,053Ìý
Asia-Pacific 397,795Ìý 222,951Ìý 35,517Ìý 656,263Ìý
Total $ 2,543,376Ìý $ 1,915,907Ìý $ 428,903Ìý $ 4,888,186Ìý