Segment Data and Related Information (Tables)
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9 Months Ended |
Sep. 30, 2019 |
Segment Reporting [Abstract] |
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Reconciliation of Revenue from Segments to Consolidated |
The net revenues and operating income (loss) associated with the Company's segments are summarized in the following tables. Net revenues represent sales to external customers for each segment. Intercompany balances were eliminated for separate disclosure. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | | | Nine Months Ended September 30, | | | | | | | (In thousands) | 2019 | | 2018 | | 2019 | | 2018 | | | | | Net revenues | | | | | | | | | | | | North America | $ | 1,015,920 | | | $ | 1,059,535 | | | $ | 2,675,389 | | | $ | 2,770,463 | | | | | | EMEA | 160,981 | | | 147,640 | | | 440,405 | | | 414,170 | | | | | | Asia-Pacific | 154,898 | | | 149,388 | | | 453,296 | | | 390,647 | | | | | | Latin America | 52,186 | | | 54,299 | | | 141,095 | | | 141,570 | | | | | | Connected Fitness | 39,346 | | | 32,160 | | | 101,385 | | | 90,098 | | | | | | Corporate Other (1) | 6,125 | | | (46) | | | 14,337 | | | (3,743) | | | | | | Total net revenues | $ | 1,429,456 | | | $ | 1,442,976 | | | $ | 3,825,907 | | | $ | 3,803,205 | | | | | |
(1) Corporate Other revenues consist of foreign currency hedge gains and losses related to revenues generated by entities within the Company's operating segments, but managed through the Company's central foreign exchange risk management program.
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Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | | | Nine Months Ended September 30, | | | | | | | (In thousands) | 2019 | | 2018 | | 2019 | | 2018 | | | | | Operating income (loss) | | | | | | | | | | | | North America | $ | 237,229 | | | $ | 253,706 | | | $ | 536,700 | | | $ | 534,421 | | | | | | EMEA | 21,989 | | | 16,726 | | | 44,700 | | | 17,935 | | | | | | Asia-Pacific | 34,666 | | | 36,579 | | | 74,116 | | | 82,092 | | | | | | Latin America | 233 | | | (3,772) | | | (4,017) | | | (10,339) | | | | | | Connected Fitness | 7,023 | | | 2,132 | | | 8,103 | | | 7,254 | | | | | | Corporate Other | (162,220) | | | (186,405) | | | (496,905) | | | (645,932) | | | | | | Total operating income (loss) | 138,920 | | | 118,966 | | | 162,697 | | | (14,569) | | | | | | Interest expense, net | (5,655) | | | (9,151) | | | (15,881) | | | (26,266) | | | | | | Other expense, net | (429) | | | (4,294) | | | (2,224) | | | (9,475) | | | | | | Income (loss) before income taxes | $ | 132,836 | | | $ | 105,521 | | | $ | 144,592 | | | $ | (50,310) | | | | | |
The operating income (loss) information for Corporate Other presented above includes the impact of all restructuring, impairment and restructuring related charges related to the Company's 2018 restructuring plan. These unallocated charges are as follows: | | | | | | | | | | | | | | | | (In thousands) | Three Months Ended September 30, 2018 | | Nine Months Ended September 30, 2018 | | | | | Unallocated restructuring, impairment and restructuring related charges | | | | | | | | North America related | $ | 13,056 | | | $ | 99,269 | | | | | | EMEA related | 403 | | | 11,841 | | | | | | Asia-Pacific related | 20 | | | 20 | | | | | | Latin America related | 5,404 | | | 24,263 | | | | | | Connected Fitness related | 178 | | | 178 | | | | | | Corporate Other related | 5,227 | | | 18,450 | | | | | | Total unallocated restructuring, impairment and restructuring related charges | $ | 24,288 | | | $ | 154,021 | | | | | |
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Net Revenues by Product Category |
Net revenues by product category are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | | | Nine Months Ended September 30, | | | | | | | (In thousands) | 2019 | | 2018 | | 2019 | | 2018 | | | | | Apparel | $ | 985,623 | | | $ | 978,457 | | | $ | 2,499,989 | | | $ | 2,495,723 | | | | | | Footwear | 250,596 | | | 284,856 | | | 827,223 | | | 828,001 | | | | | | Accessories | 118,164 | | | 116,186 | | | 306,406 | | | 314,250 | | | | | | Net Sales | 1,354,383 | | | 1,379,499 | | | 3,633,618 | | | 3,637,974 | | | | | | License revenues | 29,602 | | | 31,363 | | | 76,567 | | | 78,876 | | | | | | Connected Fitness | 39,346 | | | 32,160 | | | 101,385 | | | 90,098 | | | | | | Corporate Other | 6,125 | | | (46) | | | 14,337 | | | (3,743) | | | | | | Total net revenues | $ | 1,429,456 | | | $ | 1,442,976 | | | $ | 3,825,907 | | | $ | 3,803,205 | | | | | |
Net revenues by distribution channel are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | | | Nine Months Ended September 30, | | | | | | | (In thousands) | 2019 | | 2018 | | 2019 | | 2018 | | | | | Wholesale | $ | 891,709 | | | $ | 914,225 | | | $ | 2,417,028 | | | $ | 2,406,922 | | | | | | Direct to Consumer | 462,674 | | | 465,274 | | | 1,216,590 | | | 1,231,052 | | | | | | Net Sales | 1,354,383 | | | 1,379,499 | | | 3,633,618 | | | 3,637,974 | | | | | | License revenues | 29,602 | | | 31,363 | | | 76,567 | | | 78,876 | | | | | | Connected Fitness | 39,346 | | | 32,160 | | | 101,385 | | | 90,098 | | | | | | Corporate Other | 6,125 | | | (46) | | | 14,337 | | | (3,743) | | | | | | Total net revenues | $ | 1,429,456 | | | $ | 1,442,976 | | | $ | 3,825,907 | | | $ | 3,803,205 | | | | | |
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