XML 32 R23.htm IDEA: XBRL DOCUMENT v3.22.2
Business Segment Information
6 Months Ended
May 29, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
In the fourth quarter of 2021, the Company changed its segment reporting as a result of operational changes in support of the ongoing efforts to globally integrate the Levi's Brands business, which includes Levi's®, Signature by Levi Strauss & Co.™ and Denizen® brands, and separate the Dockers® business. The Levi's business is defined geographically in three operating segments: Americas, Europe and Asia. The Dockers® business, which is managed separately, will no longer be reported in the three geographical regions of Americas, Europe and Asia.
Therefore, there are three reportable segments: Americas, Europe, and Asia, collectively comprising the Company's Levi's Brands business, and Other Brands, which includes Dockers® and the newly acquired Beyond Yoga® business, which do not meet the quantitative thresholds for reportable segments and therefore are presented under the caption of Other Brands. While this reporting change did not impact consolidated results, the segment data has been recast to be consistent for all periods presented throughout the financial statements and related notes.
The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the segments’ net revenues and operating income.
Business segment information for the Company is as follows: 
 Three Months EndedSix Months Ended
 May 29,
2022
May 30,
2021
May 29,
2022
May 30,
2021
 (Dollars in thousands)
Net revenues:
Americas$776,094 $661,435 $1,541,946 $1,267,556 
Europe367,137 354,886 836,494 771,603 
Asia221,848 191,789 480,253 424,705 
Other Brands106,070 67,861 204,018 117,709 
Total net revenues$1,471,149 $1,275,971 $3,062,711 $2,581,573 
Operating income:
Americas$158,713 $147,542 $336,552 $276,192 
Europe66,562 59,387 203,355 169,974 
Asia19,110 6,254 62,693 35,498 
Other Brands4,022 2,430 13,603 3,373 
Corporate expenses(1)
(172,241)(109,158)(305,805)(201,459)
Total operating income76,166 106,455 310,398 283,578 
Interest expense(4,360)(19,933)(8,608)(43,243)
Loss on early extinguishment of debt— (30,108)— (30,338)
Other income, net6,004 (715)21,901 373 
Income before income taxes$77,810 $55,699 $323,691 $210,370 
_____________
(1)Corporate staff costs and expenses for the three-month and six-month periods ended May 29, 2022 include $51.1 million in impairment charges as a result of the Russia-Ukraine crisis related to our Europe segment. Refer to Note 1 for additional information.