Reportable Operating Segments (Tables)

12 Months Ended

Mar. 31, 2026

Reportable operating segment information, with a reconciliation to the consolidated statements of comprehensive

income, was as follows:


Year Ended March 31, 2026	HOKA	UGG	Other Brands (3)	Total
Net sales	$2,587,330	$2,738,758	$146,208	$5,472,296
Less: Cost of sales	1,116,395	1,115,588	82,587	2,314,570
Segment gross profit	1,470,935	1,623,170	63,621	3,157,726
Segment gross margin	56.9%	59.3%	43.5%	57.7%
Less:
Payroll and related costs	130,466	158,290	18,317	307,073
Advertising, marketing, and promotion expenses	263,063	215,403	17,372	495,838
Rent and occupancy	46,173	84,287	111	130,571
Depreciation and other related costs (1)	7,831	12,245	108	20,184
Other segment items (2)	112,422	107,614	11,348	231,384
Segment SG&A expenses	559,955	577,839	47,256	1,185,050
Segment income from operations	$910,980	$1,045,331	$16,365	$1,972,676
Segment operating margin	35.2%	38.2%	11.2%	36.0%


Year Ended March 31, 2025	HOKA	UGG	Other Brands (3)	Total
Less:
Payroll and related costs	101,056	146,093	18,179	265,328
Advertising, marketing, and promotion expenses	226,238	180,889	25,071	432,198
Rent and occupancy	26,467	75,724	424	102,615
Depreciation and other related costs (1)	5,007	10,026	4,412	19,445
Other segment items (2)	75,993	92,251	11,877	180,121
Segment SG&A expenses	434,761	504,983	59,963	999,707
Segment income from operations	$848,505	$1,002,873	$34,578	$1,885,956
Segment operating margin	38.0%	39.6%	15.6%	37.8%


Year Ended March 31, 2024	HOKA	UGG	Other Brands (3)	Total
Net sales	$1,806,740	$2,239,132	$241,891	$4,287,763
Less: Cost of sales	763,673	983,636	154,966	1,902,275
Segment gross profit	1,043,067	1,255,496	86,925	2,385,488
Segment gross margin	57.7%	56.1%	35.9%	55.6%
Less:
Payroll and related costs	74,991	134,307	17,628	226,926
Advertising, marketing, and promotion expenses	175,756	148,809	24,287	348,852
Rent and occupancy	16,589	75,724	348	92,661
Depreciation and other related costs (1)	3,389	9,295	10,034	22,718
Other segment items (2)	53,295	82,534	10,907	146,736
Segment SG&A expenses	324,020	450,669	63,204	837,893
Segment income from operations	$719,047	$804,827	$23,721	$1,547,595
Segment operating margin	39.8%	35.9%	9.8%	36.1%

(1) Depreciation and other related costs generally include depreciation of property and equipment, amortization and impairment of

intangible assets or other-long lived assets, accretion, loss on disposal of assets, and other miscellaneous costs. During the

year ended March 31, 2024, the Company recorded an impairment to intangible assets of $8,164 for the Sanuk brand definite-

lived trademark. Refer to the section titled “Recoverability of Definite-Lived Intangible and Other Long-Lived Assets,” in Note 1,

“General,” for further information on the impairment loss.

(2) Other segment items are comprised of other SG&A expenses, which primarily include credit card fees, sales commissions,

materials and supplies, travel, and certain 3PL service fees, and other miscellaneous expenses.

(3) The Other brands reportable operating segment for fiscal year 2026, includes financial results for the phase out of the

Koolaburra brand and AHNU brand. The Other brands reportable operating segment for the prior period includes financial

results for the former Sanuk brand through the Sanuk Brand Sale Date. Refer to the section titled “Reportable Operating

Segments,” in Note 1, “General,” for further information.

A reconciliation of reportable segment income from operations to consolidated statements of comprehensive income

was as follows:


	Years Ended March 31,
	2026	2025	2024
Segment income from operations	$1,972,676	$1,885,956	$1,547,595
Unallocated enterprise and shared brand expenses (1)	(709,773)	(706,864)	(620,081)
Total other income, net	63,453	64,207	51,427
Consolidated income before income taxes	$1,326,356	$1,243,299	$978,941

(1) To the extent that consolidated SG&A expenses exceed reportable operating segment SG&A expenses, they are recorded in

unallocated enterprise and shared brand expenses, which are costs that are managed centrally and not specific to any one

brand.