Reportable Operating Segments

3 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Reportable Operating Segments

Reportable Operating Segments

Information reported to the Chief Operating Decision Maker (CODM), who is the Company's Chief Executive Officer (CEO), President, and 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 the Company's warehouse and distribution centers (DC), certain executive and stock-based compensation, accounting, finance, legal, information technology, human resources, and facilities, among others. Inter-segment sales between the Company’s wholesale and the DTC reportable operating segments are at the Company’s cost, and there is no inter-segment net sales nor income (loss) from operations within the respective reportable operating segments results as these transactions are eliminated in consolidation.

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

	Three Months Ended June 30,
	2021		2020
Net sales
UGG brand wholesale	$	135,056	$	43,428
HOKA brand wholesale	151,147		70,619
Teva brand wholesale	43,359		21,411
Sanuk brand wholesale	10,382		7,228
Other brands wholesale	4,306		635
Direct-to-Consumer	160,428		139,848
Total	$	504,678	$	283,169

	Three Months Ended June 30,
	2021		2020
Income (loss) from operations
UGG brand wholesale	$	35,838	$	(3,735)
HOKA brand wholesale	46,363		17,235
Teva brand wholesale	14,503		4,202
Sanuk brand wholesale	3,404		488
Other brands wholesale	2,707		(1,270)
Direct-to-Consumer	39,683		31,027
Unallocated overhead costs	(80,666)		(55,646)
Total	$	61,832	$	(7,699)

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, are as follows:

	June 30, 2021		March 31, 2021
Assets
UGG brand wholesale	$	409,027	$	212,277
HOKA brand wholesale	176,098		168,365
Teva brand wholesale	62,270		87,284
Sanuk brand wholesale	37,117		38,311
Other brands wholesale	25,810		18,732
Direct-to-Consumer	192,831		196,091
Total assets from reportable operating segments	903,153		721,060

	June 30, 2021		March 31, 2021
Unallocated cash and cash equivalents	956,712		1,089,361
Unallocated deferred tax assets, net	40,817		37,194
Unallocated other corporate assets	390,573		320,090
Total	$	2,291,255	$	2,167,705