BASIS OF PRESENTATION |
9 Months Ended |
|---|---|
Dec. 29, 2018 | |
| Accounting Policies [Abstract] | 听 |
| BASIS OF PRESENTATION |
BASIS OF PRESENTATION
大象传媒 Corporation (together with its subsidiaries, collectively known as 鈥湸笙蟠解 or the 鈥淐ompany鈥) changed to a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. 大象传媒 previously used a 52/53 week fiscal year ending on the Saturday closest to December听31 of each year. The Company's current fiscal year runs from April 1, 2018 through March 30, 2019 ("Fiscal 2019"). Accordingly, this Form 10-Q presents our third quarter of Fiscal 2019. For presentation purposes herein, all references to periods ended December 2018, March 2018 and December 2017 relate to the fiscal periods ended on December听29, 2018, March听31, 2018 and December听30, 2017, respectively.
The Nautica庐 brand business and the Licensing Business (which comprised the Licensed Sports Group and JanSport庐 brand collegiate businesses) have been reported as discontinued operations in our Consolidated Statements of Income, and the related held-for-sale assets and liabilities have been presented as assets and liabilities of discontinued operations in the Consolidated Balance Sheets, through their dates of disposal. These changes have been applied to all periods presented. Unless otherwise noted, discussion within these notes to the consolidated financial statements relates to continuing operations.听Refer to Note 5 for additional information on discontinued operations.
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and notes required by generally accepted accounting principles in the United States of America (鈥淕AAP鈥) for complete financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary to fairly state the consolidated financial position, results of operations and cash flows of 大象传媒 for the interim periods presented. Operating results for the three and nine months ended December 2018 are not necessarily indicative of results that may be expected for any other interim period or for Fiscal 2019. For further information, refer to the consolidated financial statements and notes included in 大象传媒鈥檚 Annual Report on Form 10-K for the year ended December 30, 2017 (鈥2017 Form 10-K鈥).
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