Reportable Operating Segments

9 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Reportable Operating Segments

Reportable Operating Segments

Information reported to the Chief Operating Decision Maker (CODM), who is the Company's Principal Executive Officer (PEO), is organized into the Company's six reportable operating segments and is consistent with how the CODM evaluates performance and allocates resources. The Company does not consider international operations to be a separate reportable operating segment, and the CODM reviews such operations in the aggregate with the reportable operating segments.

The Company evaluates reportable operating segment performance primarily based on net sales and income (loss) from operations. The wholesale operations of each brand are generally managed separately because each requires different marketing, research and development, design, sourcing, and sales strategies. The income (loss) from operations of each of the reportable operating segments includes only those costs which are specifically related to each reportable operating segment, which consist primarily of cost of sales, research and development, design, sales and marketing, depreciation, amortization, and the direct costs of employees within those reportable operating segments. The Company does not allocate corporate overhead costs or non-operating income and expenses to reportable operating segments, which include unallocable overhead costs associated with distribution centers, certain executive and stock-based compensation, accounting, finance, legal, information technology, human resources, and facilities, among others. Inter-segment sales from the Company’s wholesale reportable operating segments to the DTC reportable operating segment are at the Company’s cost, and there is no inter-segment profit on these inter-segment sales, nor are they reflected in income (loss) from operations of the wholesale reportable operating segments.

Reportable operating segment information, with a reconciliation to the condensed consolidated statements of comprehensive income, was as follows:

	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Net sales
UGG brand wholesale	$	408,859	$	396,649	$	744,281	$	814,069
HOKA brand wholesale	100,893		71,927		279,629		196,892
Teva brand wholesale	12,107		14,406		51,264		62,328
Sanuk brand wholesale	3,829		5,286		17,142		28,059
Other brands wholesale	32,182		36,799		60,489		63,808
Direct-to-Consumer	519,889		413,668		831,648		592,623
Total	$	1,077,759	$	938,735	$	1,984,453	$	1,757,779

	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Income (loss) from operations
UGG brand wholesale	$	158,358	$	147,189	$	261,349	$	292,293
HOKA brand wholesale	26,995		15,110		78,056		40,522
Teva brand wholesale	1,029		1,128		9,993		12,967
Sanuk brand wholesale	17		(745)		1,644		1,428
Other brands wholesale	9,256		8,192		17,855		15,282
Direct-to-Consumer	220,742		158,705		295,053		157,068
Unallocated overhead costs	(87,742)		(73,813)		(214,390)		(198,080)
Total	$	328,655	$	255,766	$	449,560	$	321,480

Assets allocated to each reportable operating segment include trade accounts receivable, net, inventories, net, property and equipment, net, operating lease assets, goodwill, other intangible assets, net, and certain other assets that are specifically identifiable for one of the Company's reportable operating segments. Unallocated assets are those assets not directly related to a specific reportable operating segment and generally include cash and cash equivalents, deferred tax assets, net, and various other corporate assets shared by the Company's reportable operating segments.

Assets allocated to each reportable operating segment, with a reconciliation to the condensed consolidated balance sheets, were as follows:

	December 31, 2020		March 31, 2020
Assets
UGG brand wholesale	$	383,681	$	245,239
HOKA brand wholesale	142,201		124,958
Teva brand wholesale	46,893		90,305
Sanuk brand wholesale	37,020		50,314
Other brands wholesale	36,082		21,535
Direct-to-Consumer	241,603		243,489
Total assets from reportable operating segments	887,480		775,840
Unallocated cash and cash equivalents	1,156,556		649,436
Unallocated deferred tax assets, net	27,546		28,233
Unallocated other corporate assets	316,268		311,609
Total	$	2,387,850	$	1,765,118