Reportable Operating Segments

12 Months Ended

Mar. 31, 2022

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, 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. 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.

Segment Net Sales and Income from Operations. 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, certain executive and stock-based compensation, accounting, finance, legal, IT, human resources, and facilities, among others.

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

	Years Ended March 31,
	2022		2021		2020
Net sales
UGG brand wholesale	$	1,088,082	$	871,799	$	892,990
HOKA brand wholesale	628,674		405,243		277,097
Teva brand wholesale	129,094		105,928		119,108
Sanuk brand wholesale	30,316		26,566		39,463
Other brands wholesale	60,573		69,375		67,175
Direct-to-Consumer	1,213,600		1,066,730		736,856
Total	$	3,150,339	$	2,545,641	$	2,132,689

	Years Ended March 31,
	2022		2021		2020
Income (loss) from operations
UGG brand wholesale	$	315,240	$	292,718	$	303,908
HOKA brand wholesale	155,344		111,208		61,860
Teva brand wholesale	33,294		27,120		30,736
Sanuk brand wholesale	6,463		(162)		3,212
Other brands wholesale	14,028		21,573		16,087
Direct-to-Consumer	435,414		349,465		182,548
Unallocated overhead costs	(395,076)		(297,717)		(260,216)
Total	$	564,707	$	504,205	$	338,135
Depreciation, amortization, and accretion
UGG brand wholesale	$	416	$	532	$	611
HOKA brand wholesale	701		611		612
Teva brand wholesale	—		—		1
Sanuk brand wholesale	1,490		1,727		2,361
Other brands wholesale	382		382		382
Direct-to-Consumer	9,771		11,121		10,586
Unallocated overhead costs	30,118		26,157		24,359
Total	$	42,878	$	40,530	$	38,912
Capital expenditures
UGG brand wholesale	$	109	$	(31)	$	404
HOKA brand wholesale	1,191		56		331
Sanuk brand wholesale	—		8		—
Other brands wholesale	—		40		64
Direct-to-Consumer	11,872		11,175		7,886
Unallocated overhead costs	44,542		25,533		23,376
Total	$	57,714	$	36,781	$	32,061

Segment Assets. Assets allocated to each reportable operating segment include trade accounts receivable, net, inventories, 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 consolidated balance sheets are as follows:

	As of March 31,
	2022		2021
Assets
UGG brand wholesale	$	382,837	$	212,277
HOKA brand wholesale	293,025		168,365
Teva brand wholesale	91,140		87,284
Sanuk brand wholesale	40,766		38,311
Other brands wholesale	32,429		18,732
Direct-to-Consumer	191,193		196,091

	As of March 31,
	2022		2021
Total assets from reportable operating segments	1,031,390		721,060
Unallocated cash and cash equivalents	843,527		1,089,361
Unallocated deferred tax assets, net	64,217		37,194
Unallocated other corporate assets	393,116		320,090
Total	$	2,332,250	$	2,167,705