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REPORTABLE OPERATING SEGMENTS
 9 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
REPORTABLE OPERATING SEGMENTS REPORTABLE OPERATING SEGMENTS
Information reported to the CODM, who is the Company’s Chief Executive Officer (CEO), President, and Principal Executive Officer (PEO), is organized into the Company’s five 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.

Segment Net Sales and Income from Operations. The Company evaluates reportable operating segment performance primarily based on net sales and income (loss) from operations. The wholesale operations of each brand are 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 the Company’s warehouses and DCs, certain executive and stock-based compensation, accounting, finance, legal, IT, 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 as these transactions are eliminated in consolidation.

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,
2024202320242023
Net sales
UGG brand wholesale$467,998 $402,876 $1,122,952 $976,262 
HOKA brand wholesale305,241 252,222 1,000,317 776,042 
Teva brand wholesale18,853 20,449 62,344 67,731 
Other brands wholesale (1)
23,736 26,614 58,650 67,721 
Direct-to-Consumer (1)
1,011,337 858,146 1,719,569 1,440,249 
Total$1,827,165 $1,560,307 $3,963,832 $3,328,005 

Three Months Ended December 31,Nine Months Ended December 31,
2024202320242023
Income (loss) from operations
UGG brand wholesale$190,888 $153,653 $424,812 $336,421 
HOKA brand wholesale84,052 83,654 324,687 252,051 
Teva brand wholesale(738)2,047 4,835 10,637 
Other brands wholesale (1)
5,350 (1,365)4,161 3,509 
Direct-to-Consumer (1)
481,021 401,075 730,878 588,792 
Unallocated overhead costs(193,299)(151,165)(484,206)(408,158)
Total$567,274 $487,899 $1,005,167 $783,252 

(1) Includes current period partial financial results through the Sanuk Brand Sale Date and full financial results to date for the three and nine months ended December 31, 2023. Refer to the section titled “Reportable Operating Segments,” in Note 1, “General,” for further information on the sale of the Sanuk brand completed in the prior quarter and the reclassification of financial results of the former Sanuk brand wholesale reportable operating segment into the Other brands wholesale reportable operating segment for all periods presented.

Segment Assets. Assets allocated to each reportable operating segment include trade accounts receivable, net, inventories, 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, are as follows:
December 31, 2024March 31, 2024
Assets
UGG brand wholesale$357,634 $247,136 
HOKA brand wholesale464,046 436,147 
Teva brand wholesale54,354 81,703 
Other brands wholesale (1)
12,224 27,905 
Direct-to-Consumer307,008 263,840 
Total assets from reportable operating segments
1,195,266 1,056,731 
Unallocated cash and cash equivalents2,240,923 1,502,051 
Unallocated deferred tax assets, net65,377 72,584 
Unallocated other corporate assets462,787 504,213 
Total$3,964,353 $3,135,579 

(1) Effective on the Sanuk Brand Sale Date, the Sanuk brand and certain related assets were sold, all within the former Sanuk brand wholesale reportable operating segment. The assets for the former Sanuk brand wholesale reportable operating segment as of March 31, 2024 are presented within the Other brands wholesale reportable operating segment. Refer to the section titled “Reportable Operating Segments,” in Note 1, “General,” for further information.