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Business Segments
 9 Months Ended
Sep. 28, 2019
Segment Reporting [Abstract]  
Business Segments
BUSINESS SEGMENTS
The Company’s portfolio of brands is organized into the following two operating segments, which the Company has determined to be reportable operating segments. During the first quarter of fiscal 2019, the brands that were formerly aligned with the Wolverine Outdoor & Lifestyle Group and Wolverine Heritage Group were realigned into a new operating segment, the Wolverine Michigan Group. The change was to align our brands under key leadership to best support innovation and efficiency. All prior-period disclosures have been restated to reflect these new reportable operating segments.
•
Wolverine Michigan Group, consisting of Merrell® footwear and apparel, Cat® footwear, Wolverine® footwear and apparel, Chaco® footwear, Hush Puppies® footwear and apparel, Bates® uniform footwear, Harley-Davidson® footwear and HyTest® safety footwear; and
•
Wolverine Boston Group, consisting of Sperry® footwear and apparel, Saucony® footwear and apparel, Keds® footwear and apparel, and the Kids footwear business, which includes the Stride Rite® licensed business, as well as kids' footwear offerings from Saucony®, Sperry®, Keds®, Merrell®, Hush Puppies® and Cat®.
The reportable segments are engaged in designing, manufacturing, sourcing, marketing, licensing and distributing branded footwear, apparel and accessories. Revenue for the reportable operating segments includes revenue from the sale of branded footwear, apparel and accessories to third-party customers; revenue from third-party licensees and distributors; and revenue from the Company’s consumer-direct businesses.
The Company also reports “Other” and “Corporate” categories. The Other category consists of the Company’s leather marketing operations, sourcing operations that include third-party commission revenues and multi-branded consumer-direct retail stores. The Corporate category consists of unallocated corporate expenses, such as environmental and other related costs. The Company’s operating segments are determined based on how the Company internally reports and evaluates financial information used to make operating decisions. The operating segment managers all report directly to the chief operating decision maker.
Company management uses various financial measures to evaluate the performance of the reportable operating segments. The following is a summary of certain key financial measures for each reportable operating segment.
 
Quarter Ended
 
Year-To-Date Ended
(In millions)
September 28,
2019
 
September 29,
2018
 
September 28,
2019
 
September 29,
2018
Revenue:
 
 
 
 
 
 
 
Wolverine Michigan Group
$
318.8

 
$
327.7

 
$
939.7

 
$
937.7

Wolverine Boston Group
241.3

 
214.6

 
676.8

 
664.7

Other
14.2

 
16.3

 
49.8

 
57.2

Total
$
574.3

 
$
558.6

 
$
1,666.3

 
$
1,659.6

Operating profit (loss):
 
 
 
 
 
 
 
Wolverine Michigan Group
$
66.0

 
$
69.4

 
$
183.8

 
$
195.2

Wolverine Boston Group
46.5

 
37.6

 
115.7

 
120.0

Other
0.7

 
0.4

 
3.0

 
2.9

Corporate
(44.9
)
 
(39.0
)
 
(126.3
)
 
(120.1
)
Total
$
68.3

 
$
68.4

 
$
176.2

 
$
198.0


(In millions)
September 28,
2019
 
December 29,
2018
 
September 29,
2018
Total assets:
 
 
 
 
 
Wolverine Michigan Group
$
814.8

 
$
626.8

 
$
650.3

Wolverine Boston Group
1,404.6

 
1,282.2

 
1,264.1

Other
43.8

 
50.0

 
45.2

Corporate
205.3

 
224.1

 
309.5

Total
$
2,468.5

 
$
2,183.1

 
$
2,269.1

Goodwill:
 
 
 
 
 
Wolverine Michigan Group
$
143.1

 
$
143.8

 
$
144.4

Wolverine Boston Group
293.9

 
280.6

 
283.1

Total
$
437.0

 
$
424.4

 
$
427.5