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REVENUES
 6 Months Ended
Jun. 27, 2020
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
The Company recognizes revenue when performance obligations under the terms of a contract with the customer are satisfied based on the transfer of control of promised goods or services.
Performance Obligations
Disclosure is required for the aggregate transaction price allocated to performance obligations that are unsatisfied at the end of a reporting period, unless the optional practical expedients are applicable. The Company elected the practical expedients that do not require disclosure of the transaction price allocated to remaining performance obligations for (i) variable consideration related to sales-based royalty arrangements and (ii) contracts with an original expected duration of one year or less.
As of June 2020, there were no arrangements with transaction price allocated to remaining performance obligations other than (i) contracts for which the Company has applied the practical expedients discussed above and (ii) fixed consideration related to future minimum guarantees.
For the three and six months ended June 2020, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not significant.
Contract Balances
Accounts receivable represent the Company's unconditional right to receive consideration from a customer and are recorded at net invoiced amounts, less estimated allowances.
The Company's primary contract assets relate to sales-based royalty arrangements and the Company's primary contract liabilities relate to gift cards, loyalty programs and sales-based royalty arrangements.
The following table presents information about contract balances recorded in the Company's balance sheets:
(In thousands)June 2020December 2019June 2019
Accounts receivable, net$153,302  $228,459  $254,049  
Contract assets (a)
3,113  10,679  2,529  
Contract liabilities (b)
1,688  1,775  2,787  
(a) Included within "prepaid expenses and other current assets" in the Company's balance sheets.
(b) Included within "accrued liabilities" in the Company's balance sheets.
For the three and six months ended June 2020, the Company recognized revenue of $0.1 million and $1.2 million, respectively, that was included in contract liabilities as of December 2019. For the three and six months ended June 2019, the Company recognized revenue of $0.2 million and $1.5 million, respectively, that was included in contract liabilities as of December 2018. The changes in the contract asset and contract liability balances primarily result from timing differences between the Company's satisfaction of performance obligations and the customer's payment.
Most of the Company's licensing agreements include minimum guarantees for sales-based royalties. As of June 2020, the Company has contractual rights under its licensing agreements to receive $19.2 million of fixed consideration related to the future minimum guarantees through December 2024. The variable consideration is not disclosed as a remaining performance obligation as the licensing arrangements qualify for the sales-based royalty exemption.
Disaggregation of Revenue
The following tables present revenues disaggregated by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues are affected by economic factors. Revenues from licensing arrangements have been included within the U.S. or Non-U.S. Wholesale channels, based on the respective region covered by the agreement. Branded Direct-to-Consumer revenues include the distribution of our products via concession retail locations internationally, Wrangler® and Lee® branded full-price stores globally and Company-operated outlet stores globally. The Branded Direct-to-Consumer channel also includes sales of our branded products in U.S.-based VF Outlet™ stores and digital sales via www.wrangler.com and www.lee.com.
The Other channel primarily includes sales of third-party branded merchandise at VF Outlet™ stores. Sales of Wrangler® and Lee® branded products at VF Outlet™ stores are not included in Other and are reported in the Branded Direct-to-Consumer channel discussed above. Prior to 2020, the Other channel also included transactions with VF for pre-Separation activities, none of which continued in 2020. These transactions included sales of VF-branded products at VF Outlet™ stores, as well as sales to VF for products manufactured in our plants, use of our transportation fleet and fulfillment of a transition services agreement related to VF’s sale of its Nautica® brand business in mid-2018.
Three Months Ended June 2020
(In thousands)WranglerLeeOtherTotal
Channel revenues
U.S. Wholesale$217,183  $33,194  $2,503  $252,880  
Non-U.S. Wholesale17,251  27,005  —  44,256  
Branded Direct-to-Consumer17,221  25,767  1  42,989  
Other—  —  9,129  9,129  
Total$251,655  $85,966  $11,633  $349,254  
Geographic revenues
U.S.$232,566  $44,119  $11,633  $288,318  
International19,089  41,847  —  60,936  
Total$251,655  $85,966  $11,633  $349,254  
Three Months Ended June 2019
(In thousands)WranglerLeeOtherTotal
Channel revenues
U.S. Wholesale$299,040  $108,757  $4,710  $412,507  
Non-U.S. Wholesale40,569  56,845  633  98,047  
Branded Direct-to-Consumer24,383  41,306  14  65,703  
Other—  —  33,489  33,489  
Total$363,992  $206,908  $38,846  $609,746  
Geographic revenues
U.S.$317,831  $130,795  $38,002  $486,628  
International46,161  76,113  844  123,118  
Total$363,992  $206,908  $38,846  $609,746  
Six Months Ended June 2020
(In thousands)WranglerLeeOtherTotal
Channel revenues
U.S. Wholesale$453,465  $125,772  $6,564  $585,801  
Non-U.S. Wholesale64,188  86,858  304  151,350  
Branded Direct-to-Consumer37,388  56,092  3  93,483  
Other—  —  23,118  23,118  
Total$555,041  $268,722  $29,989  $853,752  
Geographic revenues
U.S.$485,150  $152,087  $29,685  $666,922  
International69,891  116,635  304  186,830  
Total$555,041  $268,722  $29,989  $853,752  

Six Months Ended June 2019
(In thousands)WranglerLeeOtherTotal
Channel revenues
U.S. Wholesale$575,865  $209,616  $11,435  $796,916  
Non-U.S. Wholesale109,224  157,741  633  267,598  
Branded Direct-to-Consumer48,838  81,082  14  129,934  
Other—  —  63,642  63,642  
Total$733,927  $448,439  $75,724  $1,258,090  
Geographic revenues
U.S.$611,700  $249,915  $74,880  $936,495  
International122,227  198,524  844  321,595  
Total$733,927  $448,439  $75,724  $1,258,090