XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.21.2

Revenue From Contracts With Customers (Notes) | 6 Months Ended
--- | ---
Jul. 03, 2021
Revenue From Contracts With Customers [Abstract] |
Revenue from Contract with Customer [Text Block] | REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue Recognition and Performance Obligations The Company has agreements to license symbolic intellectual property with minimum guarantees or fixed consideration. The Company is due $20.9 million of remaining fixed transaction price under its license agreements as of July 3, 2021, which it expects to recognize per the terms of its contracts over the course of time through December 2024. The Company has elected to omit the remaining variable consideration under its license agreements given the Company recognizes revenue equal to what it has the right to invoice and that amount corresponds directly with the value to the customer of the Company’s performance to date. The Company provides disaggregated revenue by sales channel, including the wholesale and consumer-direct sales channels, reconciled to the Company’s reportable segments. The wholesale channel includes royalty revenues due to the similarity in the Company’s oversight and management, customer base, the performance obligation (footwear and apparel goods) and point in time completion of the performance obligation.
| Quarter Ended July 3, 2021 |  | Quarter Ended June 27, 2020
(In millions) | Wholesale |  | Consumer-Direct |  | Total |  | Wholesale |  | Consumer-Direct |  | Total
Wolverine Michigan Group | $ | 282.0 |  |  | $ | 72.4 |  |  | $ | 354.4 |  |  | $ | 149.0 |  |  | $ | 68.4 |  |  | $ | 217.4 |
Wolverine Boston Group | 194.5 |  |  | 63.5 |  |  | 258.0 |  |  | 74.5 |  |  | 48.0 |  |  | 122.5 |
Other | 18.2 |  |  | 1.3 |  |  | 19.5 |  |  | 8.8 |  |  | 0.4 |  |  | 9.2 |
Total | $ | 494.7 |  |  | $ | 137.2 |  |  | $ | 631.9 |  |  | $ | 232.3 |  |  | $ | 116.8 |  |  | $ | 349.1 |
| Year-To-Date Ended July 3, 2021 |  | Year-To-Date Ended June 27, 2020 |  |  |  |
(In millions) | Wholesale |  | Consumer-Direct |  | Total |  | Wholesale |  | Consumer-Direct |  | Total |  |  |  |
Wolverine Michigan Group | $ | 516.4 |  |  | $ | 135.7 |  |  | $ | 652.1 |  |  | $ | 363.3 |  |  | $ | 101.9 |  |  | $ | 465.2 |  |  |  |  |
Wolverine Boston Group | 345.3 |  |  | 113.6 |  |  | 458.9 |  |  | 223.6 |  |  | 81.0 |  |  | 304.6 |  |  |  |  |
Other | 29.4 |  |  | 2.2 |  |  | 31.6 |  |  | 17.5 |  |  | 1.1 |  |  | 18.6 |  |  |  |  |
Total | $ | 891.1 |  |  | $ | 251.5 |  |  | $ | 1,142.6 |  |  | $ | 604.4 |  |  | $ | 184.0 |  |  | $ | 788.4 |  |  |  |  |
Reserves for Variable Consideration Revenue is recorded at the net sales price (“transaction price”), which includes estimates of variable consideration for which reserves are established. Components of variable consideration include trade discounts and allowances, product returns, customer markdowns, customer rebates and other sales incentives relating to the sale of the Company’s products. These reserves, as detailed below, are based on the amounts earned, or to be claimed on the related sales. These estimates take into consideration a range of possible outcomes, which are probability-weighted in accordance with the expected value method for relevant factors such as current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the respective underlying contracts. Revenue recognized during the fiscal periods presented related to the Company’s contract liabilities was nominal. The Company’s contract balances are as follows:
(In millions) | July 3, 2021 |  | January 2, 2021 |  | June 27, 2020
Product returns reserve | $ | 10.7 |  |  | $ | 15.6 |  |  | $ | 11.8 |
Customer markdowns reserve | 3.3 |  |  | 3.7 |  |  | 5.7 |
Other sales incentives reserve | 4.4 |  |  | 6.0 |  |  | 3.4 |
Customer rebates liability | 14.2 |  |  | 13.4 |  |  | 11.0 |
Customer advances liability | 7.1 |  |  | 8.2 |  |  | 5.8 |
The amount of variable consideration included in the transaction price may be constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized under the contract will not occur in a future period. Actual amounts of consideration ultimately received may differ from initial estimates. If actual results in the future vary from initial estimates, the Company subsequently adjusts these estimates, which affects net revenue and earnings in the period such variances become known.

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Revenue From Contracts With Customers [Abstract] + References No definition available. + Details
Name: | www_RevenueFromContractsWithCustomersAbstract
Namespace Prefix: | www_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration