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SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 03, 2021

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 USA Inc.			Delaware			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		%
Gildan Choloma Textiles, 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
2020
Cost
Balance, December 29, 2019						$	120,478					$	558,847					$	1,149,837					$	171,361					$	37,670					$	2,038,193
Additions						3,812						8,549						10,826						5,657						13,794						42,638
Transfers						—						5,506						28,441						1,361						(35,308)						—
Disposals(1)						(741)						(1,438)						(118,492)						(3,619)						—						(124,290)
Balance, January 3, 2021						$	123,549					$	571,464					$	1,070,612					$	174,760					$	16,156					$	1,956,541
Accumulated depreciation
Balance, December 29, 2019						$	—					$	205,834					$	714,478					$	122,901					$	—					$	1,043,213
Depreciation						—						24,537						70,497						13,418						—						108,452
Disposals(1)						—						(304)						(94,883)						(2,750)						—						(97,937)
Write-downs and impairments						—						21						5,887						105						—						6,013
Balance, January 3, 2021						$	—					$	230,088					$	695,979					$	133,674					$	—					$	1,059,741
Carrying amount, January 3, 2021						$	123,549					$	341,376					$	374,633					$	41,086					$	16,156					$	896,800

(1) Included in disposals for fiscal 2020 are manufacturing equipment with a cost of $106.8 million and accumulated depreciation of $84.2 million that were determined to be unrepairable due to damages resulting from the two hurricanes which impacted the Company’s operations in Central America in November 2020. See note 16 (c) for additional information. Assets not yet utilized in operations include expenditures incurred to date for plant expansions which are still in process and equipment not yet placed into service as at the end of the reporting period.

			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

DEPRECIATION AND AMORTIZATION:

			2020						2019
Depreciation of property, plant and equipment (note 8)			$	108,452					$	117,945
Depreciation of right-of-use assets (note 9)			14,656						13,295
Adjustment for the variation of depreciation included in inventories at the beginning and end of the year			3,676						3,059
Amortization of intangible assets, excluding software (note 10)			14,302						17,289
Amortization of software (note 10)			6,104						5,206
Depreciation and amortization included in net earnings			$	147,190					$	156,794

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:

2020			Customer contracts and customer relationships						Trademarks						License agreements						Computer software						Non-compete agreements						Total
Cost
Balance, December 29, 2019						$	224,489					$	226,172					$	72,750					$	69,123					$	1,790					$	594,324
Additions						—						—						46						3,113						—						3,159
Disposals						—						—						—						(7,941)						—						(7,941)
Balance, January 3, 2021						$	224,489					$	226,172					$	72,796					$	64,295					$	1,790					$	589,542
Accumulated amortization
Balance, December 29, 2019						$	101,844					$	2,508					$	61,415					$	42,903					$	1,790					$	210,460
Amortization						10,670						700						2,932						6,104						—						20,406
Disposals						—						—						—						(3,985)						—						(3,985)
Impairments						29,617						43,143						—						—						—						72,760
Balance, January 3, 2021						$	142,131					$	46,351					$	64,347					$	45,022					$	1,790					$	299,641
Carrying amount, January 3, 2021						$	82,358					$	179,821					$	8,449					$	19,273					$	—					$	289,901

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

DEPRECIATION AND AMORTIZATION:

			2020						2019
Depreciation of property, plant and equipment (note 8)			$	108,452					$	117,945
Depreciation of right-of-use assets (note 9)			14,656						13,295
Adjustment for the variation of depreciation included in inventories at the beginning and end of the year			3,676						3,059
Amortization of intangible assets, excluding software (note 10)			14,302						17,289
Amortization of software (note 10)			6,104						5,206
Depreciation and amortization included in net earnings			$	147,190					$	156,794

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The disclosure of interests in subsidiaries. [Refer: Subsidiaries [member]]

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