Business Segment Information (Tables)

9 Months Ended

Aug. 25, 2024

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

Business segment information for the Company is as follows: 

	Three Months Ended				Nine Months Ended
	August 25, 2024		August 27, 2023		August 25, 2024		August 27, 2023
	(Dollars in millions)
Net revenues:
Americas	$	757.2	$	766.7	$	2,205.2	$	2,198.6
Europe	406.6		384.1		1,183.8		1,200.5
Asia	247.1		246.5		795.9		797.7
Total segment net revenues	1,410.9		1,397.3		4,184.9		4,196.8
Other Brands:
Dockers	73.7		86.7		233.5		254.8
Beyond Yoga®	32.2		27.0		97.2		85.1
Total Other Brands	105.9		113.7		330.7		339.9
Total net revenues	$	1,516.8	$	1,511.0	$	4,515.6	$	4,536.7
Income (loss) before income taxes:
Americas	$	173.9	$	135.6	$	432.8	$	323.4
Europe	83.2		68.1		239.9		240.4
Asia	28.5		30.2		111.0		116.0
Total segment operating income	285.6		233.9		783.7		679.8
Dockers operating loss	(2.4)		(2.3)		(2.4)		(2.9)
Beyond Yoga operating (loss) income	(5.8)		0.5		(9.6)		2.5
Restructuring charges, net(1)	(3.4)		(1.5)		(174.7)		(19.3)
Goodwill and other intangible asset impairment charges(2)	(111.4)		(90.2)		(116.9)		(90.2)
Corporate expenses	(132.3)		(105.6)		(428.3)		(367.8)
Interest expense	(10.1)		(11.5)		(30.4)		(35.4)
Other expense, net(3)	(0.4)		(26.7)		(2.3)		(38.1)
Income (loss) before income taxes	$	19.8	$	(3.4)	$	19.1	$	128.6

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(1)Restructuring charges, net for the three and nine months ended August 25, 2024 related to Project Fuel, consisting primarily of severance and other post-employment benefit charges.

(2)For the three and nine months ended August 25, 2024, goodwill and other intangible asset impairment charges includes $36.3 million related to Beyond Yoga reporting unit goodwill, $66.0 million related to the Beyond Yoga® trademark and $9.1 million related to the Beyond Yoga® customer relationship intangible assets. Additionally, the nine months ended August 25, 2024 includes a $5.5 million goodwill impairment charge related to the footwear business.

For the three and nine months ended August 27, 2023, goodwill and other intangible asset impairment charges includes $75.4 million related to Beyond Yoga reporting unit goodwill and $14.8 million related to the Beyond Yoga® trademark.

(3)Other expense, net for the three and nine months ended August 25, 2024 includes an insurance recovery of $2.7 million and a government subsidy gain of $1.4 million. Other expense, net for the three and nine months ended August 27, 2023 primarily consists of a noncash pension settlement charge.