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Business Segments (Notes)
12 Months Ended
Jan. 02, 2021
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
The Company’s portfolio of brands is organized into the following two operating segments, which the Company has determined to be reportable segments.
Wolverine Michigan Group, consisting of Merrell® footwear and apparel, Cat® footwear, Wolverine® footwear and apparel, Chaco® footwear, Hush Puppies® footwear and apparel, Bates® uniform footwear, Harley-Davidson® footwear and Hytest® safety footwear; and
Wolverine Boston Group, consisting of Sperry® footwear, Saucony® footwear and apparel, Keds® footwear and the Kids' footwear business, which includes the Stride Rite® licensed business, as well as Kids' footwear offerings from Saucony®, Sperry®, Keds®, Merrell®, Hush Puppies® and Cat®.
The reportable segments are engaged in designing, manufacturing, sourcing, marketing, licensing and distributing branded footwear, apparel and accessories. Revenue for the reportable segments includes revenue from the sale of branded footwear, apparel and accessories to third-party customers; revenue from third-party distributors, licensees and joint ventures; 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, sourcing operations and multi-branded consumer-direct retail stores. The Corporate category consists of unallocated corporate expenses, such as costs related to the COVID-19 pandemic, impairment of intangible assets and environmental and other related costs. The Company’s reportable segments are determined based on how the Company internally reports and evaluates financial information used to make operating decisions.
Company management uses various financial measures to evaluate the performance of the reportable segments. The following is a summary of certain key financial measures for the respective fiscal periods indicated.
 Fiscal Year
(In millions)202020192018
Revenue:
Wolverine Michigan Group$1,051.0 $1,299.7 $1,272.2 
Wolverine Boston Group696.0 910.9 895.5 
Other44.1 63.1 71.5 
Total$1,791.1 $2,273.7 $2,239.2 
Operating profit (loss):
Wolverine Michigan Group$179.9 $244.8 $257.6 
Wolverine Boston Group88.1 153.8 157.5 
Other1.6 2.9 3.1 
Corporate(406.7)(230.5)(166.3)
Total$(137.1)$171.0 $251.9 
Depreciation and amortization expense:
Wolverine Michigan Group$2.7 $2.4 $2.7 
Wolverine Boston Group3.4 3.3 3.3 
Other2.0 2.4 3.1 
Corporate24.7 24.6 22.4 
Total$32.8 $32.7 $31.5 
Capital expenditures:
Wolverine Michigan Group$0.8 $2.2 $3.1 
Wolverine Boston Group2.3 5.7 1.2 
Other0.9 2.2 1.8 
Corporate6.3 24.3 15.6 
Total$10.3 $34.4 $21.7 

(In millions)January 2,
2021
December 28,
2019
Total assets:
Wolverine Michigan Group$626.9 $773.8 
Wolverine Boston Group1,077.8 1,354.8 
Other31.4 38.4 
Corporate401.3 313.0 
Total$2,137.4 $2,480.0 
Goodwill:
Wolverine Michigan Group$145.4 $144.4 
Wolverine Boston Group297.0 294.5 
Total$442.4 $438.9 
Geographic dispersion of revenue from external customers, based on shipping destination is as follows:
Fiscal Year
(In millions)202020192018
United States$1,234.2 $1,507.9 $1,505.2 
Foreign:
Europe, Middle East and Africa279.8 343.1 325.7 
Asia Pacific120.3 193.7 186.0 
Canada88.9 117.9 116.7 
Latin America67.9 111.1 105.6 
Total from foreign territories556.9 765.8 734.0 
Total revenue$1,791.1 $2,273.7 $2,239.2 
The location of the Company’s tangible long-lived assets, which comprises property, plant and equipment and lease right-of-use assets, is as follows:
(In millions)January 2,
2021
December 28,
2019
December 29,
2018
United States$222.2 $247.2 $117.1 
Foreign countries44.9 54.6 13.8 
Total$267.1 $301.8 $130.9 
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 2020, the Company sourced 100% of its footwear products and apparel and accessories from third-party suppliers, located primarily in the Asia Pacific region. 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.