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Restructuring Costs | 9 Months Ended
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Sep. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring Costs | Restructuring Costs Voluntary Bridge to Retirement During the second quarter of 2025, the Company initiated a VBR program to reduce operating costs and bridge certain long-tenured eligible employees to retirement. As part of this program, eligible employees were offered severance in the form of salary and benefit continuation. The activity related to the VBR program was as follows:
(in thousands) |  | Three months ended September 30, 2025 |  | Nine months ended September 30, 2025 |  |
Balance at beginning of period |  | $ | 6,409 |  |  | $ | — |  |  |  |  |
Provision |  | 2,139 |  |  | 8,568 |  |  |  |  |
Payments |  | (1,776) |  |  | (1,796) |  |  |  |  |
Balance at end of period |  | $ | 6,772 |  |  | $ | 6,772 |  |  |  |  |
The provision for costs associated with the VBR program was included in selling, general and administrative on the unaudited condensed consolidated statement of operations. The Company expects to incur additional costs associated with the VBR program of approximately $5.0 million in the fourth quarter of 2025, with payments continuing through early 2027. The VBR program liabilities recognized on the unaudited condensed consolidated balance sheet were as follows:
(in thousands) |  |  |  | September 30, |  |
Balance Sheet Location |  |  |  | 2025 |  |
Accrued expenses and other liabilities |  |  |  | 6,713 |  |  |
Other noncurrent liabilities |  |  |  | 59 |  |  |
Lionscore During the first quarter of 2024, Lionscore approved a plan to permanently close certain production lines at its FDL factory in Fuzhou, China and involuntarily separate certain direct and indirect manufacturing employees, as footwear production volume was shifted to a third-party supplier in Vietnam affiliated with the Company's Lionscore joint venture partner. The remaining direct and indirect manufacturing employees at the FDL factory continued to service the remaining production lines. During the fourth quarter of 2024, Lionscore approved an additional plan to permanently cease manufacturing at the FDL factory, including all remaining production lines, in the first quarter of 2025 and to shift the remaining footwear production volume to the aforementioned third-party supplier in Vietnam. As a result, Lionscore involuntarily separated substantially all of the remaining employees of the FDL factory during the first quarter of 2025. The activity related to these plans was as follows:
(in thousands) |  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Balance at beginning of period |  | $ | — |  |  | $ | 2,013 |  |  | $ | 12,431 |  |  | $ | — |
Provision |  | — |  |  | — |  |  | — |  |  | 6,967 |
Payments |  | — |  |  | (386) |  |  | (5,439) |  |  | (5,340) |
Deconsolidation of VIE (Note 1) |  | — |  |  | — |  |  | (6,992) |  |  | — |
Balance at end of period |  | $ | — |  |  | $ | 1,627 |  |  | $ | — |  |  | $ | 1,627 |
The provision for involuntary employee termination costs associated with these restructuring plans was included in selling, general and administrative on the unaudited condensed consolidated statement of operations. The total employee termination costs associated with these restructuring plans were $18.0 million. There are no further costs expected to be incurred in relation to these restructuring plans. The liabilities for involuntary employee termination costs associated with these restructuring plans were included within accrued expenses and other liabilities on the unaudited condensed consolidated balance sheet as of December 31, 2024. See Note 1 for further information.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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