XML 88 R34.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 29, 2019
List Of Accounting Policies [Abstract]  
Disclosure of interests in subsidiaries
The Company’s principal subsidiaries, their jurisdiction of incorporation, and the Company’s percentage ownership share of each are as follows:
Subsidiary
Jurisdiction of incorporation
Ownership
percentage

Gildan Activewear SRL
Barbados
100
%
Gildan Yarns, LLC
Delaware
100
%
Gildan Branded Apparel SRL
Barbados
100
%
Gildan Honduras Properties, S. de R.L.
Honduras
100
%
Gildan Apparel (Canada) LP
Ontario
100
%
Gildan Activewear (UK) Limited
United Kingdom
100
%
Gildan Textiles de Sula, S. de R.L.
Honduras
100
%
G.A.B. Limited
Bangladesh
100
%
Gildan Activewear Honduras Textile Company, S. de R.L.
Honduras
100
%
Gildan Activewear (Eden) Inc.
North Carolina
100
%
Gildan Hosiery Rio Nance, S. de R.L.
Honduras
100
%
Gildan Mayan Textiles, S. de R.L.
Honduras
100
%
Gildan Charleston Inc.
Delaware
100
%
Gildan Activewear Dominican Republic Textile Company Inc.
Barbados
100
%
Gildan Honduras Trading, S. de R. L.
Honduras
100
%
Disclosure of detailed information about property, plant and equipment
The cost of property, plant and equipment less its residual value, if any, is depreciated on a straight-line basis over the following estimated useful lives:
Asset
Useful life
Buildings and improvements
5 to 40 years
Manufacturing equipment
2 to 20 years
Other equipment
3 to 10 years
ROPERTY, PLANT AND EQUIPMENT:

 
Land
 
Buildings and improvements
 
Manufacturing equipment
 
Other equipment
 
Assets not yet utilized in operations
 
Total
 
 
2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 30, 2018
 
$
70,957

 
$
550,885

 
$
1,085,345

 
$
159,201

 
$
57,630

 
$
1,924,018

Additions
 
49,791

 
10,585

 
37,461

 
7,663

 
37,433

 
142,933

Transfers
 
—

 
5,169

 
43,564

 
8,660

 
(57,393
)
 
—

Disposals
 
(270
)
 
(7,792
)
 
(16,533
)
 
(4,163
)
 
—

 
(28,758
)
Balance, December 29, 2019
 
$
120,478

 
$
558,847

 
$
1,149,837

 
$
171,361

 
$
37,670

 
$
2,038,193

 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated depreciation
 
 
 
 
 
 
 
 
 
 
Balance, December 30, 2018
 
$
—

 
$
181,821

 
$
640,418

 
$
111,304

 
$
—

 
$
933,543

Depreciation
 
—

 
25,037

 
79,335

 
13,573

 
—

 
117,945

Disposals
 
—

 
(2,899
)
 
(11,932
)
 
(3,001
)
 
—

 
(17,832
)
Write-downs and impairments
 
—

 
1,875

 
6,657

 
1,025

 
—

 
9,557

Balance, December 29, 2019
 
$
—

 
$
205,834

 
$
714,478

 
$
122,901

 
$
—

 
$
1,043,213

Carrying amount, December 29, 2019
 
$
120,478

 
$
353,013

 
$
435,359

 
$
48,460

 
$
37,670

 
$
994,980

 
Land
 
Buildings and improvements
 
Manufacturing equipment
 
Other equipment
 
Assets not yet utilized in operations
 
Total
 
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2017
 
$
70,003

 
$
512,398

 
$
1,039,974

 
$
175,640

 
$
77,389

 
$
1,875,404

Additions
 
1,051

 
9,650

 
49,560

 
3,065

 
47,406

 
110,732

Transfers
 
—

 
33,932

 
31,735

 
1,498

 
(67,165
)
 
—

Disposals
 
(97
)
 
(5,095
)
 
(35,924
)
 
(21,002
)
 
—

 
(62,118
)
Balance, December 30, 2018
 
$
70,957


$
550,885


$
1,085,345


$
159,201


$
57,630


$
1,924,018

 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated depreciation
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2017
 
$
—

 
$
157,040

 
$
571,847

 
$
110,699

 
$
—

 
$
839,586

Depreciation
 
—

 
24,781

 
91,081

 
9,935

 
—

 
125,797

Disposals
 
—

 
—

 
(22,510
)
 
(9,330
)
 
—

 
(31,840
)
Balance, December 30, 2018
 
$
—


$
181,821


$
640,418


$
111,304


$
—


$
933,543

Carrying amount, December 30, 2018
 
$
70,957

 
$
369,064

 
$
444,927

 
$
47,897

 
$
57,630

 
$
990,475


DEPRECIATION AND AMORTIZATION:
 
2019

 
2018

 
 
 
Depreciation of property, plant and equipment (note 8)
$
117,945

 
$
125,797

Depreciation of right-of-use assets (note 9)
13,295

 
—

Adjustment for the variation of depreciation included in inventories at the beginning and end of the year
3,059

 
4,940

Amortization of intangible assets, excluding software (note 10)
17,289

 
22,864

Amortization of software (note 10)
5,206

 
4,475

Depreciation and amortization included in net earnings
$
156,794

 
$
158,076
Disclosure of detailed information about intangible assets
Intangible assets with finite lives are amortized on a straight-line basis over the following estimated useful-lives:
Asset
Useful life
Customer contracts and customer relationships
7 to 20 years
License agreements
3 to 10 years
Computer software
4 to 7 years
Trademarks with a finite life
5 years
Non-compete agreements
2 years
Intangible assets:
2019
Customer contracts and customer relationships
 
Trademarks
 
License agreements
 
Computer software
 
Non-compete agreements
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 30, 2018
 
$
224,489

 
$
226,172

 
$
69,600

 
$
58,255

 
$
1,790

 
$
580,306

Additions
 
—

 
—

 
3,150

 
11,074

 
—

 
14,224

Disposals
 
—

 
—

 
—

 
(206
)
 
—

 
(206
)
Balance, December 29, 2019
 
$
224,489

 
$
226,172

 
$
72,750

 
$
69,123

 
$
1,790

 
$
594,324

 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated amortization
 
 
 
 
 
 
 
 
 
 
Balance, December 30, 2018
 
$
89,064

 
$
1,808

 
$
57,606

 
$
36,465

 
$
1,790

 
$
186,733

Amortization
 
12,780

 
700

 
3,809

 
5,206

 
—

 
22,495

Disposals
 
—

 
—

 
—

 
(18
)
 
—

 
(18
)
Write-downs and impairments
 
—

 
—

 
—

 
1,250

 
—

 
1,250

Balance, December 29, 2019
 
$
101,844

 
$
2,508

 
$
61,415

 
$
42,903

 
$
1,790

 
$
210,460

Carrying amount, December 29, 2019
 
$
122,645

 
$
223,664

 
$
11,335

 
$
26,220

 
$
—

 
$
383,864


2018
Customer contracts and customer relationships
 
Trademarks
 
License agreements
 
Computer software
 
Non-compete agreements
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2017
 
$
224,489

 
$
226,172

 
$
59,498

 
$
49,771

 
$
1,880

 
$
561,810

Additions
 
—

 
—

 
10,102

 
9,363

 
—

 
19,465

Disposals
 
—

 
—

 
—

 
(879
)
 
(90
)
 
(969
)
Balance, December 30, 2018
 
$
224,489


$
226,172


$
69,600


$
58,255


$
1,790


$
580,306

 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated amortization
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2017
 
$
75,472

 
$
1,108

 
$
49,034

 
$
32,711

 
$
1,880

 
$
160,205

Amortization
 
13,592

 
700

 
8,572

 
4,475

 
—

 
27,339

Disposals
 
—

 
—

 
—

 
(721
)
 
(90
)
 
(811
)
Balance, December 30, 2018
 
$
89,064


$
1,808


$
57,606


$
36,465


$
1,790


$
186,733

Carrying amount, December 30, 2018
 
$
135,425

 
$
224,364

 
$
11,994

 
$
21,790

 
$
—

 
$
393,573

DEPRECIATION AND AMORTIZATION:
 
2019

 
2018

 
 
 
Depreciation of property, plant and equipment (note 8)
$
117,945

 
$
125,797

Depreciation of right-of-use assets (note 9)
13,295

 
—

Adjustment for the variation of depreciation included in inventories at the beginning and end of the year
3,059

 
4,940

Amortization of intangible assets, excluding software (note 10)
17,289

 
22,864

Amortization of software (note 10)
5,206

 
4,475

Depreciation and amortization included in net earnings
$
156,794

 
$
158,076