Reportable Operating Segments

3 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Reportable Operating Segments

Reportable Operating Segments

Information reported to the Chief Operating Decision Maker (CODM), who is the Company's Principal Executive Officer (PEO), is organized into the Company's six reportable operating segments and is consistent with how the CODM evaluates performance and allocates resources. The Company does not consider international operations to be a separate reportable operating segment, and the CODM reviews such operations in the aggregate with the reportable operating segments.

The Company evaluates reportable operating segment performance primarily based on net sales and income (loss) from operations. The wholesale operations of each brand are generally managed separately because each requires different marketing, research and development, design, sourcing, and sales strategies. The income (loss) from operations of each of the reportable operating segments includes only those costs which are specifically related to each reportable operating segment, which consist primarily of cost of sales, research and development, design, sales and marketing, depreciation, amortization, and the direct costs of employees within those reportable operating segments. The Company does not allocate corporate overhead costs or non-operating income and expenses to reportable operating segments, which include unallocable overhead costs associated with distribution centers, certain executive and stock-based compensation, accounting, finance, legal, information technology, human resources, and facilities, among others. Inter-segment sales from the Company’s wholesale reportable operating segments to the DTC reportable operating segment are at the Company’s cost, and there is no inter-segment profit on these inter-segment sales, nor are they reflected in income (loss) from operations of the wholesale reportable operating segments.

Reportable operating segment information, with a reconciliation to the condensed consolidated statements of comprehensive loss, was as follows:

	Three Months Ended June 30,
	2020		2019
Net sales
UGG brand wholesale	$	43,428	$	85,400
HOKA brand wholesale	70,619		64,006
Teva brand wholesale	21,411		30,831
Sanuk brand wholesale	7,228		14,607
Other brands wholesale	635		1,727
Direct-to-Consumer	139,848		80,268
Total	$	283,169	$	276,839

	Three Months Ended June 30,
	2020			2019
Income (loss) from operations
UGG brand wholesale	$	(3,735	)	$	9,441
HOKA brand wholesale	17,235			11,358
Teva brand wholesale	4,202			8,316
Sanuk brand wholesale	488			1,935
Other brands wholesale	(1,270		)	132
Direct-to-Consumer	31,027			(4,572		)
Unallocated overhead costs	(55,646		)	(58,027		)
Total	$	(7,699	)	$	(31,417	)

Assets allocated to each reportable operating segment include trade accounts receivable, net, inventories, net, property and equipment, net, operating lease assets, goodwill, other intangible assets, net, and certain other assets that are specifically identifiable for one of the Company's reportable operating segments. Unallocated assets are those assets not directly related to a specific reportable operating segment and generally include cash and cash equivalents, deferred tax assets, net, and various other corporate assets shared by the Company's reportable operating segments.

Assets allocated to each reportable operating segment, with a reconciliation to the condensed consolidated balance sheets, were as follows:

	June 30, 2020		March 31, 2020
Assets
UGG brand wholesale	$	328,583	$	245,239
HOKA brand wholesale	142,393		124,958
Teva brand wholesale	64,957		90,305
Sanuk brand wholesale	46,423		50,314
Other brands wholesale	24,145		21,535
Direct-to-Consumer	232,151		243,489
Total assets from reportable operating segments	838,652		775,840
Unallocated cash and cash equivalents	661,941		649,436
Unallocated deferred tax assets, net	28,243		28,233
Unallocated other corporate assets	319,730		311,609
Total	$	1,848,566	$	1,765,118