Annual report [Section 13 and 15(d), not S-K Item 405]

REVENUES

v3.25.1
REVENUES
 12 Months Ended
Mar. 29, 2025
Revenue from Contract with Customer [Abstract]  
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 2025 March 2024
Contract assets (a)
$ 2,448  $ 2,393 
Contract liabilities (b)
78,421  66,130 
(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 2025, the Company recognized $214.8 million of revenue, which included the majority of the contract liability balance at the beginning of the year, and amounts recorded as a contract liability and subsequently recognized as revenue as performance obligations were satisfied during the year, including 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 2025, the Company expects to recognize $64.3 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.
As of March 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 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 2025
(In thousands) Outdoor Active Work Total
Channel revenues
Wholesale $ 3,103,451  $ 1,537,927  $ 658,716  $ 5,300,094 
Direct-to-consumer 2,459,039  1,532,630  150,606  4,142,275 
Royalty 13,811  24,735  23,776  62,322 
Total $ 5,576,301  $ 3,095,292  $ 833,098  $ 9,504,691 
Geographic revenues
Americas $ 2,450,422  $ 1,710,070  $ 673,033  $ 4,833,525 
Europe 2,078,058  1,068,357  102,046  3,248,461 
Asia-Pacific 1,047,821  316,865  58,019  1,422,705 
Total $ 5,576,301  $ 3,095,292  $ 833,098  $ 9,504,691 
Year Ended March 2024
(In thousands) Outdoor Active Work Total
Channel revenues
Wholesale $ 3,152,260  $ 1,578,823  $ 690,934  $ 5,422,017 
Direct-to-consumer 2,330,390  1,919,914  176,284  4,426,588 
Royalty 18,749  24,003  24,321  67,073 
Total $ 5,501,399  $ 3,522,740  $ 891,539  $ 9,915,678 
Geographic revenues
Americas $ 2,498,520  $ 1,963,872  $ 710,366  $ 5,172,758 
Europe 2,080,583  1,145,653  113,420  3,339,656 
Asia-Pacific 922,296  413,215  67,753  1,403,264 
Total $ 5,501,399  $ 3,522,740  $ 891,539  $ 9,915,678 

Year Ended March 2023
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 3,375,343  $ 2,081,809  $ 847,729  $ 148  $ 6,305,029 
Direct-to-consumer 2,252,958  2,269,970  186,462  —  4,709,390 
Royalty 19,225  29,727  25,988  —  74,940 
Total $ 5,647,526  $ 4,381,506  $ 1,060,179  $ 148  $ 11,089,359 
Geographic revenues
Americas $ 2,921,383  $ 2,602,623  $ 848,524  $ 148  $ 6,372,678 
Europe 1,960,485  1,261,060  107,414  —  3,328,959 
Asia-Pacific 765,658  517,823  104,241  —  1,387,722 
Total $ 5,647,526  $ 4,381,506  $ 1,060,179  $ 148  $ 11,089,359