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Business Segment Information
 3 Months Ended
Apr. 01, 2023
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company’s operations are managed and reported in three operating segments, each of which is a reportable segment for financial reporting purposes: Innerwear, Activewear and International. These segments are organized principally by product category and geographic location. Each segment has its own management team that is responsible for the operations of the segment’s businesses, but the segments share a common supply chain and media and marketing platforms. Other consists of the Company’s U.S.-based outlet stores, U.S. Sheer Hosiery business and certain sales from its supply chain and transitional services with the European Innerwear business which was sold on March 5, 2022. In the fourth quarter of 2021, the Company reached the decision to divest its U.S. Sheer Hosiery business, including the L’eggs brand, as part of its strategy to streamline its portfolio under its Full Potential plan. See Note “Assets and Liabilities Held for Sale” for additional information regarding the U.S. Sheer Hosiery business and the sale of the European Innerwear business.
The types of products and services from which each reportable segment derives its revenues are as follows:
•Innerwear includes sales in the United States of basic branded apparel products that are replenishment in nature under the product categories of men’s underwear, women’s panties, children’s underwear and socks, and intimate apparel, which includes bras and shapewear.
•Activewear includes sales in the United States of branded products that are primarily seasonal in nature to both retailers and wholesalers, as well as licensed sports apparel and licensed logo apparel.
•International primarily includes sales of the Company’s innerwear and activewear products outside the United States, primarily in Australia, Europe, Asia, Latin America and Canada. 
The Company evaluates the operating performance of its segments based upon segment operating profit, which is defined as operating profit before general corporate expenses, restructuring and other action-related charges and amortization of intangibles. The accounting policies of the segments are consistent with those described in Note “Summary of Significant Accounting Policies” to the Company’s consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2022.
 Quarters Ended
April 1,
2023		April 2,
2022
Net sales:
Innerwear$553,067 $578,947 
Activewear314,945 386,937 
International462,857 510,129 
Other58,541 100,143 
Total net sales$1,389,410 $1,576,156 

Quarters Ended
April 1,
2023		April 2,
2022
Segment operating profit:
Innerwear$72,608 $102,146 
Activewear9,974 48,984 
International51,349 89,438 
Other(4,874)(671)
Total segment operating profit129,057 239,897 
Items not included in segment operating profit:
General corporate expenses(58,626)(57,228)
Restructuring and other action-related charges(6,121)(4,802)
Amortization of intangibles(6,991)(7,355)
Total operating profit57,319 170,512 
Other expenses(14,771)(987)
Interest expense, net(58,452)(31,963)
Income (loss) from continuing operations before income tax expense$(15,904)$137,562 
The Company incurred restructuring and other action-related charges that were reported in the following lines in the Condensed Consolidated Statements of Income:
 Quarters Ended
April 1,
2023		April 2,
2022
Cost of sales$4,523 $499 
Selling, general and administrative expenses1,598 4,303 
Total included in operating profit6,121 4,802 
Other expenses8,350 — 
Interest expense, net(1,254)— 
Total included in income (loss) from continuing operations before income tax expense13,217 4,802 
Income tax expense— 816 
Total restructuring and other action-related charges$13,217 $3,986 
The components of restructuring and other action-related charges were as follows:
Quarters Ended
April 1,
2023		April 2,
2022
Full Potential Plan:
Supply chain segmentation$4,523 $1,020 
Technology3,684 4,459 
Professional services40 7,908 
Operating model(1,091)(1,919)
Gain on classification of assets held for sale(2,139)(6,528)
Other1,104 (138)
Total included in operating profit6,121 4,802 
Loss on extinguishment of debt included in other expenses8,466 — 
Gain on final settlement of cross currency swap contracts included in other expenses(116)— 
Gain on final settlement of cross currency swap contracts included in interest expense, net(1,254)— 
Total included in income (loss) from continuing operations before income tax expense13,217 4,802 
Tax effect on actions included in income tax expense— 816 
Total restructuring and other action-related charges$13,217 $3,986 
Restructuring and other action-related charges within operating profit included $6,121 and $4,802 of charges related to the implementation of the Company’s Full Potential plan in the quarters ended April 1, 2023 and April 2, 2022, respectively. Full Potential plan charges in the quarters ended April 1, 2023 and April 2, 2022 included non-cash gains of $2,139 and $6,528, respectively, to adjust the valuation allowance related to the U.S. Sheer Hosiery business resulting primarily from a decrease in carrying value due to changes in working capital. These valuation allowance adjustments are reflected in the “Selling, general and administrative expenses” line in the Condensed Consolidated Statements of Income.
In the quarter ended April 1, 2023, the Company recorded a charge of $8,466 in restructuring and other action-related charges related to the redemption of its 4.625% Senior Notes and 3.5% Senior Notes. The charge, which is recorded in the “Other expenses” line in the Condensed Consolidated Statements of Income, included a payment of $4,632 for a required make-whole premium related to the redemption of the 3.5% Senior Notes and a non-cash charge of $3,834 for the write-off of unamortized debt issuance costs related to the redemption of the 4.625% Senior Notes and the 3.5% Senior Notes. See Note “Debt” for additional information. Additionally, in connection with the redemption of the 3.5% Senior Notes, the Company unwound the related cross-currency swap contracts previously designated as cash flow hedges and the remaining gain in AOCI of $1,254 was released into earnings at the time of settlement which is recorded in the “Interest expense, net” line in the Condensed Consolidated Statements of Income. See Note “Financial Instruments” for additional information.
At December 31, 2022, the Company had an accrual of $16,170 for expected benefit payments related to actions taken in prior years. During the quarter ended April 1, 2023, the Company approved actions to align the Company’s manufacturing network and support with its Full Potential plan initiatives and incurred charges of $1,600 for employee termination and other benefits for employees affected by the actions which are reflected in the “Cost of sales” line in the Condensed Consolidated Statement of Income and in the “Supply chain segmentation” line in the restructuring and other action-related charges table above. During the quarter ended April 1, 2023, the Company made benefit payments and other adjustments of $4,135, resulting in an ending accrual of $13,635 which is included in the “Accrued liabilities” line of the Condensed Consolidated Balance Sheets at April 1, 2023.