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REPORTABLE OPERATING SEGMENTS | 12 Months Ended
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Mar. 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 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. 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 consolidated statements of comprehensive income, was as follows:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Net sales |  |  |  |  |
UGG brand wholesale | $ | 1,115,241 |  |  | $ | 1,004,356 |  |  | $ | 1,088,082 |
HOKA brand wholesale | 1,126,126 |  |  | 925,877 |  |  | 628,674 |
Teva brand wholesale | 113,739 |  |  | 149,111 |  |  | 129,094 |
Sanuk brand wholesale | 17,175 |  |  | 27,678 |  |  | 30,316 |
Other brands wholesale | 60,026 |  |  | 53,653 |  |  | 60,573 |
Direct-to-Consumer | 1,855,456 |  |  | 1,466,611 |  |  | 1,213,600 |
Total | $ | 4,287,763 |  |  | $ | 3,627,286 |  |  | $ | 3,150,339 |
Income (loss) from operations |  |  |  |  |
UGG brand wholesale | $ | 349,509 |  |  | $ | 267,013 |  |  | $ | 315,240 |
HOKA brand wholesale | 376,286 |  |  | 285,257 |  |  | 155,344 |
Teva brand wholesale | 18,685 |  |  | 32,595 |  |  | 33,294 |
Sanuk brand wholesale | (12,836) |  |  | 2,891 |  |  | 6,463 |
Other brands wholesale | 4,722 |  |  | (1,678) |  |  | 14,028 |
Direct-to-Consumer | 748,656 |  |  | 508,948 |  |  | 435,414 |
Unallocated overhead costs | (557,508) |  |  | (442,275) |  |  | (395,076) |
Total | $ | 927,514 |  |  | $ | 652,751 |  |  | $ | 564,707 |
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Depreciation, amortization, and accretion |  |  |  |  |
UGG brand wholesale | $ | 526 |  |  | $ | 611 |  |  | $ | 416 |
HOKA brand wholesale | 856 |  |  | 945 |  |  | 701 |
Sanuk brand wholesale | 1,490 |  |  | 1,490 |  |  | 1,490 |
Other brands wholesale | 380 |  |  | 382 |  |  | 382 |
Direct-to-Consumer | 12,504 |  |  | 10,276 |  |  | 9,771 |
Unallocated overhead costs | 41,831 |  |  | 34,154 |  |  | 30,118 |
Total | $ | 57,587 |  |  | $ | 47,858 |  |  | $ | 42,878 |
Capital expenditures |  |  |  |  |
UGG brand wholesale | $ | 334 |  |  | $ | 826 |  |  | $ | 109 |
HOKA brand wholesale | 315 |  |  | 1,229 |  |  | 1,191 |
Direct-to-Consumer | 28,068 |  |  | 19,789 |  |  | 11,872 |
Unallocated overhead costs | 64,348 |  |  | 72,709 |  |  | 44,542 |
Total | $ | 93,065 |  |  | $ | 94,553 |  |  | $ | 57,714 |
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 consolidated balance sheets, are as follows:
| As of March 31,
| 2024 |  | 2023
Assets |  |  |
UGG brand wholesale | $ | 247,136 |  |  | $ | 261,683 |
HOKA brand wholesale | 436,147 |  |  | 446,450 |
Teva brand wholesale | 81,703 |  |  | 94,735 |
Sanuk brand wholesale | 18,526 |  |  | 41,405 |
Other brands wholesale | 9,379 |  |  | 24,448 |
Direct-to-Consumer | 263,840 |  |  | 219,194 |
Total assets from reportable operating segments | 1,056,731 |  |  | 1,087,915 |
Unallocated cash and cash equivalents | 1,502,051 |  |  | 981,795 |
Unallocated deferred tax assets, net | 72,584 |  |  | 72,592 |
Unallocated other corporate assets | 504,213 |  |  | 413,901 |
Total | $ | 3,135,579 |  |  | $ | 2,556,203 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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