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Investments, Equity Method and Joint Ventures (Notes) | 12 Months Ended
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Dec. 28, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments and Joint Ventures Disclosure | VARIABLE INTEREST ENTITIES AND RELATED PARTY TRANSACTIONS Assets and Liabilities of Consolidated VIEs The Company had joint ventures, which were divested effective January 1, 2024, that sourced and marketed the Company’s footwear and apparel products in China. Based upon the criteria set forth in FASB ASC 810, Consolidation, the Company had determined two of the consolidated joint ventures were variable interest entities (VIEs) of which the Company was the primary beneficiary and, as a result, the Company consolidated these VIEs. The primary beneficiary determination was based on the relationship between the Company and the VIE, including contractual agreements between the Company and the VIE. The Company had determined that two of the VIEs that were consolidated met the criteria to be classified as held for sale as of year end 2023. Refer to Note 20, "Divestitures and Assets and Liabilities Held for Sale" for additional discussion. Specifically, the Company had the power to direct the activities that were considered most significant to the entities’ performance and the Company had the obligation to absorb losses and the right to receive benefits that were significant to the entities. The other equity holder’s interests were reflected in “net earnings (loss) attributable to noncontrolling interests” in the Consolidated Statement of Operations and “Noncontrolling interest” in the Consolidated Balance Sheets. Assets held by the VIEs were only available to settle obligations of the respective entities. Holders of liabilities of these VIEs did not have recourse to the Company. The following is a summary of these VIE’s assets and liabilities included in the Company’s consolidated balance sheets.
| Fiscal Year
(In millions) | 2023
Assets held for sale | 51.6 |
Liabilities held for sale | 15.4 |
Nonconsolidated VIEs The Company also had two joint ventures, which were divested effective January 1, 2024, that were VIEs that were not consolidated as the Company did not have the power to direct the most significant activities that impact the VIEs' economic performance. The two VIEs distributed footwear and apparel products in the Asia Pacific region. The Company had determined that the VIEs that were not consolidated met the criteria to be classified as held for sale as of year-end fiscal 2023. Refer to Note 20, "Divestitures and Assets and Liabilities Held for Sale" for additional discussion. Related Party Transactions In the normal course of business, the Company entered into transactions with related party equity affiliates. Related party transactions consisted of the sale of goods, made at arm’s length, and other arrangements. For the fiscal year ended December 30, 2023 the Company recognized net sales to equity affiliates totaling $66.5 million. For the fiscal year ended December 28, 2024, the Company did not recognize any sales to equity affiliates. The following table summarizes related party transactions included in the consolidated balance sheets.
| Fiscal Year
(In millions) | 2023
Accounts receivable due from related parties | $ | 15.4 |
Long term liabilities due to related parties | 1.4 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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