RESTRUCTURING

12 Months Ended

Dec. 30, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING

RESTRUCTURING

The Company generally incurs restructuring charges related to cost optimization of business activities, primarily related to severance and employee-related benefits. In 2023, the Company took actions to drive efficiencies in our operations, which included reducing our global workforce and streamlining and transferring select production within our internal manufacturing network. In 2022, restructuring costs related to the globalization of the Company's operating model and relocation of the European headquarters to Geneva, Switzerland. In 2021, restructuring costs primarily related to the decision to exit certain company-owned outlet stores and the transition of our India business to a licensing model. We do not expect material charges in future periods related to the initiatives discussed above.

Of the $11.5 million of restructuring charges recognized during the year ended December 2023, $5.7 million were reflected within "selling, general and administrative expenses" and $5.8 million within "cost of goods sold." All of the $13.7 million of restructuring charges recognized during the year ended December 2022 were reflected within "selling, general and administrative expenses." The Company also recognized a $2.6 million pension curtailment gain within "other expense, net" during the year ended December 2022. Refer to Note 13 to the Company's financial statements for additional information related to pension charges. All of the $1.0 million of restructuring charges recognized during the year ended December 2021 were reflected within "selling, general and administrative expenses."

All of the $0.8 million restructuring accrual reported in the Company's balance sheet at December 2023 is expected to be paid out within the next 12 months and is classified within "accrued liabilities." All of the $10.7 million restructuring accrual reported in the Company's balance sheet at December 2022 was classified within "accrued liabilities."

The following table presents the components of restructuring charges:

	Year Ended December
(In thousands)	2023		2022		2021
Severance and employee-related benefits	$	7,223	$	13,688	$	992
Asset impairments	3,064		—		—
Pension curtailment gain	—		(2,581)		—
Other	1,182		—		—
Total restructuring charges	$	11,469	$	11,107	$	992

The following table presents the restructuring costs by business segment:

	Year Ended December
(In thousands)	2023		2022		2021
Wrangler	$	4,564	$	—	$	305
Lee	43		—		331
Corporate and other	6,862		11,107		356
Total	$	11,469	$	11,107	$	992

The following table presents activity in the restructuring accrual for the years ended December 2023 and December 2022:

(In thousands)	Severance
Accrual at December 2021	$	1,079
Charges	13,688
Cash payments	(4,956)
Adjustments to accruals	166
Currency translation	718
Accrual at December 2022	$	10,695
Charges	7,223
Cash payments	(17,338)
Adjustments to accruals	6
Currency translation	241
Accrual at December 2023	$	827