Business Segment Information

6 Months Ended

May 26, 2024

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. The Dockers® and Beyond Yoga® businesses do not separately meet the quantitative thresholds for reportable segments and therefore are presented under the caption of “Other Brands.” Effective in the second quarter of 2024, Dockers® and Beyond Yoga® businesses are disclosed as separate lines under the caption “Other Brands” to increase transparency of performance. Prior periods were adjusted to reflect the change. 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				Six Months Ended
	May 26, 2024		May 28, 2023		May 26, 2024		May 28, 2023
	(Dollars in millions)
Net revenues:
Americas	$	712.2	$	608.9	$	1,448.0	$	1,431.9
Europe	353.7		361.3		777.2		816.4
Asia	260.0		261.7		548.8		551.2
Total segment net revenues	1,325.9		1,231.9		2,774.0		2,799.5
Other Brands:
Dockers	82.4		75.8		159.8		168.1
Beyond Yoga	32.9		29.1		65.0		58.1
Total Other Brands	115.3		104.9		224.8		226.2
Total net revenues	$	1,441.2	$	1,336.8	$	2,998.8	$	3,025.7
Income (loss) before income taxes:
Americas	$	126.5	$	53.2	$	258.9	$	187.7
Europe	53.3		54.8		156.8		172.3
Asia	33.9		32.1		82.4		85.8
Total segment operating income	213.7		140.1		498.1		445.8
Dockers operating income (loss)	1.1		(2.7)		—		(0.6)
Beyond Yoga operating (loss) income	(2.9)		0.7		(3.8)		2.0
Restructuring charges, net	(55.1)		(6.5)		(171.3)		(17.8)
Corporate expenses	(134.9)		(121.7)		(301.5)		(262.1)
Interest expense	(10.3)		(13.2)		(20.3)		(23.9)
Other expense, net	0.4		(3.9)		(1.9)		(11.4)
Income (loss) before income taxes	$	12.0	$	(7.2)	$	(0.7)	$	132.0