Business Segments

3 Months Ended

Mar. 28, 2015

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

The Company’s portfolio of brands is organized into the following three operating segments, which the Company has determined are reportable operating segments.

• Performance Group, consisting of Merrell^® footwear and apparel, Saucony^® footwear and apparel, Chaco^® footwear, and Cushe^® footwear and includes Patagonia^® footwear during fiscal 2014;

• Lifestyle Group, consisting of Sperry ^® footwear and apparel, Stride Rite^® footwear and apparel, Hush Puppies^® footwear and apparel, Keds^® footwear and apparel and Soft Style^® footwear; and

• Heritage Group, consisting of Wolverine^® footwear and apparel, Cat^® footwear, Bates^® uniform footwear, Sebago^® footwear and apparel, Harley-Davidson^® footwear and HyTest^® safety footwear.

The reportable segments are engaged in designing, manufacturing, sourcing, marketing, licensing and distributing branded footwear, apparel and accessories. Reported revenue for the reportable operating segments includes revenue from the sale of branded footwear, apparel and accessories to third-party customers; revenue from third-party licensees and distributors; and revenue from the Company’s mono-branded consumer-direct business.

The Company also reports “Other” and “Corporate” categories. The Other category consists of the Company’s multi-brand consumer-direct business, leather marketing operations and sourcing operations that include third-party commission revenues. The Corporate category consists of unallocated corporate expenses, including acquisition-related integration and restructuring costs. The Company’s operating segments are determined based on how the Company internally reports and evaluates financial information used to make operating decisions.

Company management uses various financial measures to evaluate the performance of the reportable operating segments. The following is a summary of certain key financial measures for the respective fiscal periods indicated.

	12 Weeks Ended
(In millions)	March 28, 2015			March 22, 2014
Revenue:
Performance Group	$	243.4		$	248.8
Lifestyle Group	243.0			238.0
Heritage Group	126.1			120.7
Other	18.9			20.1
Total	$	631.4		$	627.6
Operating profit (loss):
Performance Group	$	55.7		$	58.0
Lifestyle Group	29.5			25.0
Heritage Group	18.1			17.7
Other	(0.3		)	(1.4		)
Corporate	(39.4		)	(35.6		)
Total	$	63.6		$	63.7

(In millions)	March 28, 2015		January 3, 2015		March 22, 2014
Total assets:
Performance Group	$	533.1	$	485.8	$	554.9
Lifestyle Group	1,406.6		1,378.8		1,482.6
Heritage Group	230.7		246.4		219.9
Other	57.1		52.1		60.4
Corporate	213.0		341.4		361.6
Total	$	2,440.5	$	2,504.5	$	2,679.4
Goodwill:
Performance Group	$	92.4	$	92.5	$	92.8
Lifestyle Group	320.0		323.8		326.1
Heritage Group	21.7		22.5		23.4
Total	$	434.1	$	438.8	$	442.3