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Business Segments
 12 Months Ended
Dec. 30, 2017
Segment Reporting [Abstract]  
Business Segments
BUSINESS SEGMENTS
The Company’s portfolio of brands is organized into the following four operating segments, which the Company has determined to be reportable operating segments. During the second quarter of fiscal 2017, the components within the Wolverine Multi-Brand Group were realigned as the Company transitioned Stride Rite® to a global license arrangement, which was effective on July 2, 2017.
•
Wolverine Outdoor & Lifestyle Group, consisting of Merrell® footwear and apparel, Cat® footwear, Hush Puppies® footwear and apparel, Chaco® footwear, Sebago® footwear and apparel and Cushe® footwear;
•
Wolverine Boston Group, consisting of Sperry® footwear and apparel, Saucony® footwear and apparel and Keds® footwear and apparel;
•
Wolverine Heritage Group, consisting of Wolverine® footwear and apparel, Bates® uniform footwear, Harley-Davidson® footwear and HyTest® safety footwear; and
•
Wolverine Multi-Brand Group, consisting of the Company’s Children’s footwear business and the Company's multi-brand consumer-direct businesses. The Children’s footwear business includes Stride Rite®, as well as children’s footwear offerings from Saucony®, Sperry®, Keds® , Merrell® and Hush Puppies®.
The reportable segments are engaged in designing, manufacturing, sourcing, marketing, licensing and distributing branded footwear, apparel and accessories. Revenue for the reportable operating segments includes revenue from the sale of branded footwear, apparel and accessories to third-party customers; revenue from third-party licensees and distributors; and revenue from the Company’s consumer-direct businesses.
The Company also reports “Other” and “Corporate” categories. The Other category consists of the Company’s leather marketing operations and sourcing operations that include third-party commission revenues. The Corporate category consists of unallocated corporate expenses, including restructuring and other related costs, impairment of intangible assets, organizational transformation costs and environmental and other related costs. The Company’s operating segments are determined based on how the Company internally reports and evaluates financial information used to make operating decisions. The operating segment managers all report directly to the chief operating decision maker.
The accounting policies of each operating segment are the same as those described in the summary of significant accounting policies set forth in Note 1 to the consolidated financial statements.
Company management uses various financial measures to evaluate the performance of the reportable operating segments. The following is a summary of certain key financial measures for the respective fiscal periods indicated. All prior period amounts have been restated to reflect the new reportable operating segments.
 
Fiscal Year
(In millions)
2017
 
2016
 
2015
Revenue:
 
 
 
 
 
Wolverine Outdoor & Lifestyle Group
$
947.1

 
$
890.6

 
$
957.5

Wolverine Boston Group
833.8

 
889.4

 
942.8

Wolverine Heritage Group
327.9

 
347.0

 
370.5

Wolverine Multi-Brand Group
166.9

 
304.3

 
351.2

Other
74.3

 
63.3

 
69.6

Total
$
2,350.0

 
$
2,494.6

 
$
2,691.6

Operating profit (loss):
 
 
 
 
 
Wolverine Outdoor & Lifestyle Group
$
193.2

 
$
166.8

 
$
197.7

Wolverine Boston Group
139.1

 
121.7

 
132.9

Wolverine Heritage Group
53.3

 
50.8

 
54.6

Wolverine Multi-Brand Group
10.5

 
4.8

 
5.2

Other
6.4

 
5.5

 
5.6

Corporate
(378.6
)
 
(189.7
)
 
(194.9
)
Total
$
23.9

 
$
159.9

 
$
201.1

Depreciation and amortization expense:
 
 
 
 
 
Wolverine Outdoor & Lifestyle Group
$
2.4

 
$
3.0

 
$
3.4

Wolverine Boston Group
3.2

 
4.1

 
4.2

Wolverine Heritage Group
0.5

 
0.5

 
0.5

Wolverine Multi-Brand Group
3.1

 
4.5

 
6.3

Other
0.9

 
1.5

 
1.5

Corporate
27.1

 
29.9

 
32.8

Total
$
37.2

 
$
43.5

 
$
48.7

Capital expenditures:
 
 
 
 
 
Wolverine Outdoor & Lifestyle Group
$
0.5

 
$
3.3

 
$
4.7

Wolverine Boston Group
1.6

 
4.7

 
8.3

Wolverine Heritage Group
—

 
0.5

 
0.4

Wolverine Multi-Brand Group
0.7

 
2.5

 
7.2

Other
1.1

 
1.5

 
0.9

Corporate
28.5

 
42.8

 
24.9

Total
$
32.4

 
$
55.3

 
$
46.4

 
(In millions)
December 30,
2017
 
December 31,
2016
Total assets:
 
 
 
Wolverine Outdoor & Lifestyle Group
$
420.4

 
$
391.8

Wolverine Boston Group
1,176.9

 
1,273.5

Wolverine Heritage Group
136.7

 
157.8

Wolverine Multi-Brand Group
81.5

 
140.8

Other
28.7

 
33.7

Corporate
554.8

 
434.1

Total
$
2,399.0

 
$
2,431.7

Goodwill:
 
 
 
Wolverine Outdoor & Lifestyle Group
$
128.8

 
$
126.6

Wolverine Boston Group
260.8

 
257.5

Wolverine Heritage Group
16.5

 
16.5

Wolverine Multi-Brand Group
23.7

 
23.7

Total
$
429.8

 
$
424.3


Geographic dispersion of revenue from external customers, based on shipping destination is as follows:
 
Fiscal Year
(In millions)
2017
 
2016
 
2015
United States
$
1,608.7

 
$
1,791.5

 
$
1,948.9

Foreign:
 
 
 
 
 
Europe, Middle East and Africa
322.4

 
323.9

 
345.3

Canada
121.2

 
120.5

 
141.2

Other
297.7

 
258.7

 
256.2

Total from foreign territories
741.3

 
703.1

 
742.7

Total revenue
$
2,350.0

 
$
2,494.6

 
$
2,691.6


The location of the Company’s tangible long-lived assets, which is comprised of property, plant and equipment, is as follows:
(In millions)
December 30,
2017
 
December 31,
2016
 
January 3,
2015
United States
$
122.4

 
$
131.4

 
$
117.7

Foreign countries
14.3

 
14.7

 
13.9

Total
$
136.7

 
$
146.1

 
$
131.6


The Company does not believe that it is dependent upon any single customer because no customer accounts for more than 10% of consolidated revenue in any year.
During fiscal 2017, the Company sourced approximately 99% of its footwear products from third-party suppliers located primarily in the Asia Pacific region. For fiscal 2017, the remainder was produced at a Company-owned manufacturing facility in the U.S., which was sold during the fourth quarter of fiscal 2017. All apparel and accessories are sourced from third-party suppliers. While changes in suppliers could cause delays in manufacturing and a possible loss of sales, management believes that other suppliers could provide similar products on comparable terms.