大象传媒

Quarterly report [Sections 13 or 15(d)]

REPORTABLE SEGMENT INFORMATION

v3.25.4
REPORTABLE SEGMENT INFORMATION
 9 Months Ended
Dec. 27, 2025
Segment Reporting [Abstract] 听
REPORTABLE SEGMENT INFORMATION REPORTABLE SEGMENT INFORMATION
大象传媒's President and CEO is the Company's CODM. The Company's individual global brands, or in certain cases the combination of global brands, have been determined to be operating segments. The operating segments have been evaluated and aggregated into reportable segments because they meet the similar economic characteristics and qualitative aggregation criteria set forth in the relevant accounting guidance. In the first quarter of Fiscal 2026, 大象传媒 realigned its reportable segments to reflect a change in how the Timberland庐 brand is managed and the CODM's key areas of focus. 大象传媒 began managing its Timberland庐 and Timberland PRO庐 brands as one operating segment during the first quarter of Fiscal 2026. This operating segment has been aggregated with The North Face庐 brand in the Outdoor reportable segment and the Vans庐, Kipling庐, Eastpak庐 and JanSport庐 brands have been aggregated in the Active reportable segment. All other brands that have not been aggregated within the
reportable segments described above, which do not meet the quantitative threshold to be disclosed as a separate reportable segment, have been grouped within an 鈥淎ll Other鈥 category. This group includes the following brands: Dickies庐 (through the date of sale), Altra庐, Smartwool庐, Napapijri庐 and Icebreaker庐. Results for the 鈥淎ll Other鈥 category are included as a reconciling item between the Company's reportable segments and its consolidated results of operations and assets.
Reportable segment results for all prior periods have been recast to reflect the change in reportable segments. These changes had no impact on previously reported consolidated results of operations.
The results of Dickies have been included in the 鈥淎ll Other鈥 category through the November听12, 2025 date of sale.
Below is a description of 大象传媒's reportable segments and the brands included within each:
REPORTABLE SEGMENT BRANDS
Outdoor - Outdoor apparel, footwear and equipment
The North Face庐
Timberland庐
Active - Active apparel, footwear and accessories
Vans庐
Kipling庐
Eastpak庐
JanSport庐
All Other - included in the tables below for purposes of reconciliation of revenues, profit and assets, but it is not considered a reportable segment. 鈥淎ll Other鈥 includes the following brands: Dickies庐 (through the date of sale), Altra庐, Smartwool庐, Napapijri庐 and Icebreaker庐.
The primary financial measures used by the CODM to assess performance and allocate resources to 大象传媒's segments are segment revenues and segment profit. Segment profit comprises the operating income (loss) and other income (expense), net line items of each segment. Segment revenues and segment profit are regularly reviewed by the CODM and compared against historical results, forecast and budget information in order to make decisions about how to allocate capital and other resources to each segment.
Corporate costs (other than common costs allocated to the segments), goodwill and indefinite-lived intangible asset impairment charges and net interest expense are not controlled by segment management and therefore are excluded from the measurement of segment profit. Common costs such as information systems processing, retirement benefits and insurance are allocated from corporate costs to the segments based on appropriate metrics such as usage or employment. Corporate costs that are not allocated to the segments consist of corporate headquarters expenses (including compensation and benefits of corporate management and staff, certain legal and professional fees and administrative and general costs), costs of
corporate programs or corporate-managed decisions, and other expenses which include a portion of defined benefit pension costs, development costs for management information systems, costs of registering, maintaining and enforcing certain of 大象传媒鈥檚 trademarks and miscellaneous consolidated costs. Defined benefit pension plans in the U.S. are centrally managed. The current year service cost component of pension cost is allocated to the segments, while the remaining pension cost components are reported in corporate and other expenses.
Segment assets are those used directly in or resulting from the operations of each business, which are accounts receivable and inventories. Segment assets included in the 鈥淎ll Other鈥 category represent accounts receivable and inventory balances related to the brands included within the 鈥淎ll Other鈥 category as noted above and segment assets included in the 鈥淐orporate and other鈥 category represent receivable balances primarily related to corporate activities, and both are provided for purposes of reconciliation as they are not considered reportable segments. Total expenditures for additions to long-lived assets are not disclosed as this information is not regularly provided to the CODM at the segment level.
Financial information for 大象传媒's segments is as follows:
Three Months Ended December 2025
(In thousands) Outdoor Active Total
Reportable segment revenues $ 1,926,008听 $ 671,835听 $ 2,597,843听
鈥淎ll Other鈥 revenues
 277,958听
Total revenues 2,875,801听
Less:
Cost of goods sold 818,631听 294,120听
Marketing expenses 172,665听 67,728听
Other SG&A expenses 529,680听 315,145听
Other segment items (a)
2,694听 536听
Segment profit (loss) 407,726听 (4,622) 403,104听
Impairment of goodwill (30,716)
Corporate and other income (expenses) (b)
10,030听
Interest expense, net (34,611)
鈥淎ll Other鈥 profit
 15,052听
Income from continuing operations before income taxes $ 362,859听
(a)For each reportable segment, 'Other segment items' include certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.
(b)An estimated pre-tax gain on the sale of Dickies of $139.1 million was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the three months ended December 2025. Refer to Note 4 for additional information regarding the divestiture. In addition, a pension settlement charge of $34.0 million related to the termination of the U.S. qualified plan was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the three months ended December 2025. Refer to Note 11 for additional information regarding the settlement charge.
Three Months Ended December 2024
(In thousands) Outdoor Active Total
Reportable segment revenues $ 1,780,276听 $ 716,549听 $ 2,496,825听
鈥淎ll Other鈥 revenues
 337,087听
Total revenues 2,833,912听
Less:
Cost of goods sold 767,302听 304,205听
Marketing expenses 148,592听 81,137听
Other SG&A expenses 481,368听 325,120听
Other segment items (a)
6,141听 581听
Segment profit 389,155听 6,668听 395,823听
Impairment of intangible assets (51,000)
Corporate and other expenses (142,202)
Interest expense, net (36,516)
鈥淎ll Other鈥 profit
 30,564听
Income from continuing operations before income taxes $ 196,669听
(a)For each reportable segment, 'Other segment items' include certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.
Nine Months Ended December 2025
(In thousands) Outdoor Active Total
Reportable segment revenues $ 4,401,953听 $ 2,132,272听 $ 6,534,225听
鈥淎ll Other鈥 revenues
 904,948听
Total revenues 7,439,173听
Less:
Cost of goods sold 2,027,058听 917,255听
Marketing expenses 364,246听 185,041听
Other SG&A expenses 1,351,291听 913,399听
Other segment items (a)
6,838听 1,387听
Segment profit 666,196听 117,964听 784,160听
Impairment of goodwill (30,716)
Corporate and other expenses (b)
(190,202)
Interest expense, net
(121,940)
鈥淎ll Other鈥 profit
 63,245听
Income from continuing operations before income taxes $ 504,547听
(a)For each reportable segment, 'Other segment items' include certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.
(b)An estimated pre-tax gain on the sale of Dickies of $139.1 million was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the nine months ended December 2025. Refer to Note 4 for additional information regarding the divestiture. In addition, a pension settlement charge of $34.0 million related to the termination of the U.S. qualified plan was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the nine months ended December 2025. Refer to Note 11 for additional information regarding the settlement charge.
Nine Months Ended December 2024
(In thousands) Outdoor Active Total
Reportable segment revenues $ 4,100,628听 $ 2,317,819听 $ 6,418,447听
鈥淎ll Other鈥 revenues
 942,473听
Total revenues 7,360,920听
Less:
Cost of goods sold 1,952,221听 969,797听
Marketing expenses 319,774听 223,154听
Other SG&A expenses 1,240,957听 953,850听
Other segment items (a)
6,730听 566听
Segment profit 594,406听 171,584听 765,990听
Impairment of intangible assets (51,000)
Corporate and other expenses (395,959)
Interest expense, net (b)
(120,151)
鈥淎ll Other鈥 profit
 62,891听
Income from continuing operations before income taxes $ 261,771听
(a)For each reportable segment, 'Other segment items' include certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.
(b)Interest expense and the related interest rate swap impact for the DDTL, which totaled $31.1 million for the nine months ended December 2024, were allocated to discontinued operations due to the requirement within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.
(In thousands) December 2025 March 2025 December 2024
Segment assets:
Outdoor $ 1,949,115听 $ 1,552,908听 $ 1,784,335听
Active 769,821听 860,128听 781,921听
All Other 335,811听 507,223听 534,384听
Corporate and other 19,837听 28,429听 37,163听
Total segment assets 3,074,584听 2,948,688听 3,137,803听
Cash and cash equivalents 1,466,469听 429,382听 1,369,376听
Property, plant and equipment, net 687,504听 720,879听 718,481听
Goodwill and intangible assets, net 2,066,278听 2,314,093听 2,341,101听
Operating lease right-of-use assets 1,364,407听 1,262,319听 1,268,425听
Other assets 1,772,387听 1,702,175听 1,719,036听
Consolidated assets $ 10,431,629听 $ 9,377,536听 $ 10,554,222听
Three Months Ended December Nine Months Ended December
(In thousands) 2025 2024 2025 2024
Depreciation and amortization:
Outdoor $ 25,700听 $ 23,604听 $ 77,821听 $ 72,163听
Active 15,201听 14,319听 41,522听 41,994听
All Other 1,892听 4,859听 14,166听 15,417听
Corporate and other 36,089听 17,290听 79,537听 56,894听
$ 78,882听 $ 60,072听 $ 213,046听 $ 186,468听