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Segment Data and Disaggregated Revenue
9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Data and Disaggregated Revenue Segment Data and Disaggregated RevenueThe Company’s operating segments are based on how the Chief Operating Decision Maker (“CODM”) makes decisions about allocating resources and assessing performance. As such, the CODM receives discrete financial information for the Company's principal business by geographic region based on the Company’s strategy to become a global brand. These geographic regions include North America, Europe, the Middle East and Africa (“EMEA”), Asia-Pacific, and Latin America. Each geographic segment operates exclusively in one industry: the
development, marketing and distribution of branded performance apparel, footwear and accessories. The CODM also receives discrete financial information for the Company's Connected Fitness segment. Total expenditures for additions to long-lived assets are not disclosed as this information is not regularly provided to the CODM.
The Company excludes certain corporate costs from its segment profitability measures. The Company reports these costs within Corporate Other, which is designed to provide increased transparency and comparability of the Company's operating segments' performance. Corporate Other consists largely of general and administrative expenses not allocated to an operating segment, including expenses associated with centrally managed departments such as global marketing, global IT, global supply chain, innovation and other corporate support functions; costs related to the Company's global assets and global marketing, costs related to the Company’s headquarters; restructuring and restructuring related charges; and certain foreign currency hedge gains and losses.
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)2020201920202019
Net revenues
North America$962,565 $1,015,920 $2,021,247 $2,675,389 
EMEA210,111 160,981 437,140 440,405 
Asia-Pacific178,895 154,898 397,846 453,296 
Latin America44,338 52,186 108,573 141,095 
Connected Fitness36,894 39,346 102,600 101,385 
Corporate Other (1)218 6,125 3,495 14,337 
Total net revenues$1,433,021 $1,429,456 $3,070,901 $3,825,907 
(1) Corporate Other 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.
 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2020201920202019
Operating income (loss)
North America$224,593 $237,229 $251,579 $536,700 
EMEA40,834 21,989 43,840 44,700 
Asia-Pacific19,248 34,666 (30,040)74,116 
Latin America1,802 233 (50,756)(4,017)
Connected Fitness6,629 7,023 14,020 8,103 
Corporate Other(234,536)(162,220)(897,927)(496,905)
    Total operating income (loss)58,570 138,920 (669,284)162,697 
Interest expense, net(14,955)(5,655)(32,251)(15,881)
Other expense, net(7,184)(429)(10,493)(2,224)
    Income (loss) before income taxes$36,431 $132,836 $(712,028)$144,592 
Net revenues by product category are as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2020201920202019
Apparel$927,041 $985,623 $1,951,186 $2,499,989 
Footwear298,687 250,596 693,464 827,223 
Accessories145,060 118,164 268,912 306,406 
Net Sales1,370,788 1,354,383 2,913,562 3,633,618 
License revenues25,121 29,602 51,244 76,567 
Connected Fitness36,894 39,346 102,600 101,385 
Corporate Other (1)218 6,125 3,495 14,337 
    Total net revenues$1,433,021 $1,429,456 $3,070,901 $3,825,907 
(1) Corporate Other 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.

Net revenues by distribution channel are as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2020201920202019
Wholesale$830,478 $891,709 $1,721,432 $2,417,028 
Direct to Consumer540,310 462,674 1,192,130 1,216,590 
Net Sales1,370,788 1,354,383 2,913,562 3,633,618 
License revenues25,121 29,602 51,244 76,567 
Connected Fitness36,894 39,346 102,600 101,385 
Corporate Other (1) 218 6,125 3,495 14,337 
    Total net revenues$1,433,021 $1,429,456 $3,070,901 $3,825,907 
(1) Corporate Other 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.