Reportable Operating Segments

6 Months Ended

Sep. 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 income, was as follows:

	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net sales
UGG brand wholesale	$	291,994	$	332,020	$	335,422	$	417,420
HOKA brand wholesale	108,117		60,959		178,736		124,965
Teva brand wholesale	17,746		17,091		39,157		47,922
Sanuk brand wholesale	6,085		8,166		13,313		22,773
Other brands wholesale	27,672		25,282		28,307		27,009
Direct-to-Consumer	171,911		98,687		311,759		178,955
Total	$	623,525	$	542,205	$	906,694	$	819,044

	Three Months Ended September 30,						Six Months Ended September 30,
	2020			2019			2020			2019
Income (loss) from operations
UGG brand wholesale	$	106,726		$	135,663		$	102,991		$	145,104
HOKA brand wholesale	33,826			14,054			51,061			25,412
Teva brand wholesale	4,762			3,523			8,964			11,839
Sanuk brand wholesale	1,139			238			1,627			2,173
Other brands wholesale	9,869			6,958			8,599			7,090
Direct-to-Consumer	43,284			2,935			74,311			(1,637		)
Unallocated overhead costs	(71,002		)	(66,240		)	(126,648		)	(124,267		)
Total	$	128,604		$	97,131		$	120,905		$	65,714

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:

	September 30, 2020		March 31, 2020
Assets
UGG brand wholesale	$	565,523	$	245,239
HOKA brand wholesale	135,038		124,958
Teva brand wholesale	44,424		90,305
Sanuk brand wholesale	38,154		50,314
Other brands wholesale	53,353		21,535
Direct-to-Consumer	240,374		243,489
Total assets from reportable operating segments	1,076,866		775,840
Unallocated cash and cash equivalents	626,414		649,436
Unallocated deferred tax assets, net	27,372		28,233
Unallocated other corporate assets	319,696		311,609
Total	$	2,050,348	$	1,765,118