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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.20.4
REVENUES
 9 Months Ended
Dec. 26, 2020
Revenue from Contract with Customer [Abstract] Ìý
REVENUES REVENUES
The following table provides information about accounts receivable, contract assets and contract liabilities:
(In thousands) December 2020 March 2020 December 2019
Accounts receivable, net $ 1,411,565Ìý $ 1,308,051Ìý $ 1,539,923Ìý
Contract assets (a)
1,512Ìý 1,181Ìý 1,789Ìý
Contract liabilities (b)
55,995Ìý 37,498Ìý 54,260Ìý
(a)Included in the other current assets line item in the Consolidated Balance Sheets.
(b)Included in the accrued liabilities line item in the Consolidated Balance Sheets.

For the three and nine months ended December 2020, the Company recognized $75.2Ìýmillion and $195.9Ìýmillion, respectively, of revenue that was included in the contract liability balance during the periods, including amounts recorded as a contract liability and subsequently recognized as revenue as performance obligations were satisfied within the same period, such as order deposits from customers. The change in the contract asset and contract liability balances primarily results from the timing differences between the Company's satisfaction of performance obligations and the customer's payment.
For the three and nine months ended December 2020, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not material.
As of December 2020, the Company expects to recognize $68.6Ìýmillion of fixed consideration related to the future
minimum guarantees in effect under its licensing agreements and expects such amounts to be recognized over time based on the contractual terms, including $5.8Ìýmillion during the remainder of Fiscal 2021. The variable consideration related to licensing arrangements is not disclosed as a remaining performance obligation as it qualifies for the sales-based royalty exemption. ´óÏó´«Ã½ has also elected the practical expedient to not disclose the transaction price allocated to remaining performance obligations for contracts with an original expected duration of one year or less.
As of December 2020, there were no arrangements with transaction price allocated to remaining performance obligations other than contracts for which the Company has applied the practical expedients and the fixed consideration related to future minimum guarantees discussed above.
Disaggregation of Revenue
The following tables disaggregate our revenues by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues were affected by economic factors. The wholesale channel includes fees generated from sourcing activities as the customers and point-in-time revenue recognition are similar to other wholesale arrangements.
Three Months Ended December 2020
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 763,743Ìý $ 465,857Ìý $ 200,872Ìý $ 3,106Ìý $ 1,433,578Ìý
Direct-to-consumer 804,711Ìý 655,922Ìý 63,470Ìý 89Ìý 1,524,192Ìý
Royalty 2,589Ìý 5,342Ìý 5,840Ìý —Ìý 13,771Ìý
Total $ 1,571,043Ìý $ 1,127,121Ìý $ 270,182Ìý $ 3,195Ìý $ 2,971,541Ìý
Geographic revenues
United States $ 776,674Ìý $ 620,261Ìý $ 170,760Ìý $ —Ìý $ 1,567,695Ìý
International 794,369Ìý 506,860Ìý 99,422Ìý 3,195Ìý 1,403,846Ìý
Total $ 1,571,043Ìý $ 1,127,121Ìý $ 270,182Ìý $ 3,195Ìý $ 2,971,541Ìý
Three Months Ended December 2019
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 857,939Ìý $ 527,206Ìý $ 196,342Ìý $ 4,750Ìý $ 1,586,237Ìý
Direct-to-consumer 796,632Ìý 706,186Ìý 46,384Ìý 1,340Ìý 1,550,542Ìý
Royalty 4,537Ìý 6,070Ìý 8,337Ìý —Ìý 18,944Ìý
Total $ 1,659,108Ìý $ 1,239,462Ìý $ 251,063Ìý $ 6,090Ìý $ 3,155,723Ìý
Geographic revenues
United States $ 903,184Ìý $ 686,733Ìý $ 162,411Ìý $ —Ìý $ 1,752,328Ìý
International 755,924Ìý 552,729Ìý 88,652Ìý 6,090Ìý 1,403,395Ìý
Total $ 1,659,108Ìý $ 1,239,462Ìý $ 251,063Ìý $ 6,090Ìý $ 3,155,723Ìý
Nine Months Ended December 2020
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 1,746,203Ìý $ 1,371,889Ìý $ 527,378Ìý $ 4,381Ìý $ 3,649,851Ìý
Direct-to-consumer 1,314,386Ìý 1,510,354Ìý 144,113Ìý 297Ìý 2,969,150Ìý
Royalty 6,089Ìý 16,396Ìý 14,672Ìý —Ìý 37,157Ìý
Total $ 3,066,678Ìý $ 2,898,639Ìý $ 686,163Ìý $ 4,678Ìý $ 6,656,158Ìý
Geographic revenues
United States $ 1,451,827Ìý $ 1,472,145Ìý $ 446,850Ìý $ —Ìý $ 3,370,822Ìý
International 1,614,851Ìý 1,426,494Ìý 239,313Ìý 4,678Ìý 3,285,336Ìý
Total $ 3,066,678Ìý $ 2,898,639Ìý $ 686,163Ìý $ 4,678Ìý $ 6,656,158Ìý
Nine Months Ended December 2019
(In thousands) Outdoor Active Work Other Total
Channel revenues
Wholesale $ 2,375,117Ìý $ 1,897,118Ìý $ 547,104Ìý $ 22,730Ìý $ 4,842,069Ìý
Direct-to-consumer 1,410,658Ìý 1,969,700Ìý 110,356Ìý 7,692Ìý 3,498,406Ìý
Royalty 9,890Ìý 18,404Ìý 17,366Ìý —Ìý 45,660Ìý
Total $ 3,795,665Ìý $ 3,885,222Ìý $ 674,826Ìý $ 30,422Ìý $ 8,386,135Ìý
Geographic revenues
United States $ 1,943,491Ìý $ 2,109,479Ìý $ 454,565Ìý $ —Ìý $ 4,507,535Ìý
International 1,852,174Ìý 1,775,743Ìý 220,261Ìý 30,422Ìý 3,878,600Ìý
Total $ 3,795,665Ìý $ 3,885,222Ìý $ 674,826Ìý $ 30,422Ìý $ 8,386,135Ìý