Business Segment Information

9 Months Ended

Aug. 27, 2023

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

The Company manages its business according to three reportable segments: Americas, Europe, and Asia, collectively comprising the Company’s Levi’s Brands business, which includes Levi’s®, Signature by Levi Strauss & Co.™ and Denizen® brands. Other Brands, which include Dockers® and Beyond Yoga® businesses, which do not separately meet the quantitative thresholds for reportable segments and therefore are presented under the caption of Other Brands. Corporate expenses are comprised of selling, general and administrative expenses that management does not attribute to any of our operating segments and these expenses primarily relate to corporate administration, information and technology resources, finance and human resources functional and organizational costs.

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 Ended				Nine Months Ended
	August 27, 2023		August 28, 2022		August 27, 2023		August 28, 2022
	(Dollars in millions)
Net revenues:
Americas	$	766.7	$	805.1	$	2,198.6	$	2,347.0
Europe	384.1		390.3		1,200.5		1,226.8
Asia	246.5		220.6		797.7		700.9
Total segment net revenues	1,397.3		1,416.0		4,196.8		4,274.7
Other Brands	113.7		101.2		339.9		305.2
Total net revenues	$	1,511.0	$	1,517.2	$	4,536.7	$	4,579.9
Income before income taxes:
Americas	$	135.6	$	177.1	$	323.4	$	513.6
Europe	68.1		84.4		240.4		287.8
Asia	30.2		19.9		116.0		82.6
Total segment operating income	233.9		281.4		679.8		884.0
Other Brands	(1.8)		2.4		(0.4)		16.0
Restructuring charges, net	(1.5)		1.5		(19.3)		3.3
Goodwill and other intangible asset impairment charges(1)	(90.2)		—		(90.2)		(11.6)
Corporate expenses	(105.6)		(86.2)		(367.8)		(382.2)
Interest expense	(11.5)		(7.7)		(35.4)		(16.3)
Other (expense) income, net(2)	(26.7)		(5.2)		(38.1)		16.7
(Loss) income before income taxes	$	(3.4)	$	186.2	$	128.6	$	509.9