XML 9 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
Business Segments
12 Months Ended
Jan. 02, 2016
Business Segments [Abstract]  
Segment Reporting Disclosure [Text Block]
During the first quarter of fiscal 2016, the Company’s portfolio of brands was realigned into four operating segments, which the Company has determined to be reportable operating segments. The Company’s operating segments are determined on the basis of how the Company internally reports and evaluates financial information used to make operating decisions. The Company’s reportable operating segments are now:
Wolverine Outdoor & Lifestyle Group, consisting of Merrell® footwear and apparel, Cat® footwear, Hush Puppies® footwear and apparel, Chaco® footwear, Sebago® footwear and apparel, Cushe® footwear and Patagonia® footwear (included for fiscal 2014);
Wolverine Boston Group, consisting of Sperry® footwear and apparel, Saucony® footwear and apparel and Keds® footwear and apparel;
Wolverine Heritage Group, consisting of Wolverine® footwear and apparel, Bates® uniform footwear, Harley-Davidson® footwear and HyTest® safety footwear; and
Wolverine Multi-Brand Group, consisting of Stride Rite® footwear and apparel and the Company's multi-brand consumer-direct businesses.
The Company also reports “Other” and “Corporate” categories. The Other category consists of the Company’s leather marketing operations and sourcing operations that include third-party commission revenues. The Corporate category consists of unallocated corporate expenses, including acquisition-related integration costs and restructuring and impairment costs.
The reportable operating segment results below reflect the realignment for fiscal years 2015 and 2014.
 
(unaudited)
 
Fiscal Year
(In millions)
2015
 
2014
Revenue:
 
 
 
Wolverine Outdoor & Lifestyle Group
$
957.5

 
$
1,024.6

Wolverine Boston Group
942.8

 
906.1

Wolverine Heritage Group
370.5

 
369.7

Wolverine Multi-Brand Group
351.2

 
399.0

Other
69.6

 
61.7

Total
$
2,691.6

 
$
2,761.1


 
(unaudited)
 
Fiscal Year
(In millions)
2015
 
2014
Operating profit (loss):
 
 
 
Wolverine Outdoor & Lifestyle Group
$
197.7

 
$
216.0

Wolverine Boston Group
132.9

 
132.9

Wolverine Heritage Group
54.6

 
59.5

Wolverine Multi-Brand Group
5.2

 
14.3

Other
5.6

 
4.4

Corporate
(194.9
)
 
(197.2
)
Total
$
201.1

 
$
229.9


The reportable operating segment results below reflect the realignment for each quarter of fiscal 2015:
 
(unaudited)
 
Fiscal Year 2015
(In millions)
Q1
 
Q2
 
Q3
 
Q4
 
Full-year
Revenue:
 
 
 
 
 
 
 
 
 
Wolverine Outdoor & Lifestyle Group
$
231.1

 
$
210.3

 
$
252.7

 
$
263.4

 
$
957.5

Wolverine Boston Group
234.3

 
240.7

 
222.3

 
245.5

 
942.8

Wolverine Heritage Group
81.4

 
79.2

 
87.3

 
122.6

 
370.5

Wolverine Multi-Brand Group
71.9

 
81.5

 
95.9

 
101.9

 
351.2

Other
12.7

 
18.4

 
20.7

 
17.8

 
69.6

Total
$
631.4

 
$
630.1

 
$
678.9

 
$
751.2

 
$
2,691.6


 
(unaudited)
 
Fiscal Year 2015
(In millions)
Q1
 
Q2
 
Q3
 
Q4
 
Full-year
Operating profit (loss):
 
 
 
 
 
 
 
 
 
Wolverine Outdoor & Lifestyle Group
$
54.7

 
$
35.9

 
$
59.8

 
$
47.3

 
$
197.7

Wolverine Boston Group
37.3

 
39.3

 
29.7

 
26.6

 
132.9

Wolverine Heritage Group
11.8

 
11.0

 
14.8

 
17.0

 
54.6

Wolverine Multi-Brand Group
(1.7
)
 
4.2

 
7.2

 
(4.5
)
 
5.2

Other
1.2

 
1.1

 
1.8

 
1.5

 
5.6

Corporate
(39.7
)
 
(43.9
)
 
(37.4
)
 
(73.9
)
 
(194.9
)
Total
$
63.6

 
$
47.6

 
$
75.9

 
$
14.0

 
$
201.1