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Business Segment Information (Tables) | 6 Months Ended
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May 24, 2020
Segment Reporting [Abstract] |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | Business segment information for the Company is as follows:
| Three Months Ended |  | Six Months Ended
| May 24, 2020(1) |  | May 26, 2019 |  | May 24, 2020 |  | May 26, 2019
| (Dollars in thousands)
Net revenues: |  |  |  |  |  |  |
Americas | $ | 282,728 |  |  | $ | 692,698 |  |  | $ | 1,028,308 |  |  | $ | 1,409,962 |
Europe | 129,023 |  |  | 398,369 |  |  | 641,966 |  |  | 863,045 |
Asia | 85,791 |  |  | 221,873 |  |  | 333,394 |  |  | 474,391 |
Total net revenues | $ | 497,542 |  |  | $ | 1,312,940 |  |  | $ | 2,003,668 |  |  | $ | 2,747,398 |
Operating income (loss): |  |  |  |  |  |  |
Americas | $ | (37,748 | ) |  | $ | 101,631 |  |  | $ | 86,291 |  |  | $ | 225,287 |
Europe | (67,757 | ) |  | 58,709 |  |  | 64,679 |  |  | 180,333 |
Asia | (28,499 | ) |  | 17,063 |  |  | 4,169 |  |  | 60,028 |
Regional operating income (loss) | (134,004 | ) |  | 177,403 |  |  | 155,139 |  |  | 465,648 |
Corporate: |  |  |  |  |  |  |
Restructuring | 67,371 |  |  | — |  |  | 67,371 |  |  | — |
Other corporate staff costs and expenses(2) | 246,869 |  |  | 114,505 |  |  | 357,230 |  |  | 201,838 |
Corporate expenses | 314,240 |  |  | 114,505 |  |  | 424,601 |  |  | 201,838 |
Total operating income (loss) | (448,244 | ) |  | 62,898 |  |  | (269,462 | ) |  | 263,810 |
Interest expense | (11,246 | ) |  | (15,126 | ) |  | (27,900 | ) |  | (32,670 | )
Underwriter commission paid on behalf of selling stockholders | — |  |  | (24,860 | ) |  | — |  |  | (24,860 | )
Other income, net | 1,305 |  |  | 3,166 |  |  | 4,005 |  |  | 1,520 |
Income (loss) before income taxes | $ | (458,185 | ) |  | $ | 26,078 |  |  | $ | (293,357 | ) |  | $ | 207,800 |
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(1) | The COVID-19 pandemic has materially impacted the Company's business operations and results of operations for the three-month and six-month periods ended May 24, 2020. Refer to Note 1 for more information.
(2) | Corporate staff costs and expenses for the three-month and six-month periods ended May 24, 2020 includes incremental COVID-19 related charges that management does not attribute to any of the regional segments in order to provide increased transparency and comparability of regional performance. The Company recognized $49.9 million of incremental inventory reserves, of which $28.8 million, $13.5 million and $7.6 million were related to the Americas, Europe and Asia regional segments, respectively. Incremental allowance for doubtful accounts of $15.1 million was recognized, of which $6.3 million, $8.5 million and $0.3 million, were related to the Americas, Europe and Asia regional segments, respectively. Additionally, we recognized $54.1 million in impairment of long-lived assets related to certain retail locations, of which $48.6 million, $3.7 million and $1.8 million, were related to the Americas, Europe and Asia regional segments, respectively. Refer to Note 1 for additional information.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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