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Business Segment Information (Tables) | 9 Months Ended
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Aug. 23, 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 |  |  |  | Nine Months Ended |  |
| August 23, 2020(1) |  | August 25, 2019 |  | August 23, 2020(1) |  | August 25, 2019
| (Dollars in thousands) |  |  |  |  |  |
Net revenues: |  |  |  |  |  |  |
Americas | $ | 549,798 |  |  | $ | 770,817 |  |  | $ | 1,578,106 |  |  | $ | 2,180,779 |
Europe | 390,373 |  |  | 463,258 |  |  | 1,032,339 |  |  | 1,326,303 |
Asia | 122,914 |  |  | 213,006 |  |  | 456,308 |  |  | 687,397 |
Total net revenues | $ | 1,063,085 |  |  | $ | 1,447,081 |  |  | $ | 3,066,753 |  |  | $ | 4,194,479 |
Operating income (loss): |  |  |  |  |  |  |
Americas | $ | 92,294 |  |  | $ | 151,558 |  |  | $ | 178,585 |  |  | $ | 376,845 |
Europe | 87,611 |  |  | 102,911 |  |  | 152,290 |  |  | 283,244 |
Asia | (23,301) |  |  | 17,410 |  |  | (19,132) |  |  | 77,438 |
Regional operating income (loss) | 156,604 |  |  | 271,879 |  |  | 311,743 |  |  | 737,527 |
Corporate: |  |  |  |  |  |  |
Restructuring | 1,071 |  |  | — |  |  | 68,442 |  |  | — |
Other corporate staff costs and expenses(2) | 63,208 |  |  | 100,661 |  |  | 420,438 |  |  | 302,499 |
Corporate expenses | 64,279 |  |  | 100,661 |  |  | 488,880 |  |  | 302,499 |
Total operating income (loss) | 92,325 |  |  | 171,218 |  |  | (177,137) |  |  | 435,028 |
Interest expense | (28,437) |  |  | (15,292) |  |  | (56,337) |  |  | (47,962) |
Underwriter commission paid on behalf of selling stockholders | — |  |  | — |  |  | — |  |  | (24,860) |
Other income, net | (12,274) |  |  | (4,369) |  |  | (8,269) |  |  | (2,849) |
Income (loss) before income taxes | $ | 51,614 |  |  | $ | 151,557 |  |  | $ | (241,743) |  |  | $ | 359,357 |
_____________ (1)For the three-month and nine-month periods ended August 23, 2020, the Company's business and results of operations were impacted by temporary store closures and reduced traffic and consumer demand as a result of the COVID-19 pandemic, with the majority of the impact occurring in the second quarter as most company-operated and wholesale customer doors were temporarily closed. Refer to Note 1 for more information. (2)Corporate staff costs and expenses for the three-month and nine-month periods ended August 23, 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. During the three-month period ended August 23, 2020, the Company recognized a $1.8 million reduction in incremental inventory reserves related to the Europe regional segment and charges for adverse fabric purchase commitments of $2.0 million related to the Asia regional segment. Recoveries of doubtful accounts of $6.6 million was recognized, of which $6.3 million and $0.3 million, were related to the Europe and Asia regional segments, respectively. During the nine-month period ended August 23, 2020, the Company recognized $48.1 million of incremental inventory reserves of which $28.8 million, $11.7 million and $7.6 million were related to the Americas, Europe and Asia regional segments, respectively, and charges for adverse fabric purchase commitments of $2.0 million related to the Asia regional segment. Net charges related to incremental allowance for doubtful accounts of $8.5 million were recognized, of which $6.3 million and $2.2 million were related to the Americas and Europe regional segments, respectively. Additionally, the Company 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=120311839&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=120311839&loc=d3e8906-108599 + Details
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