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Business Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 30, 2024
Segment Reporting [Abstract] |
Net Sales |
| Quarters Ended |  |
March 30, 2024 |  | April 1, 2023 |  |  |  |
Net sales: |  |  |  |  |  |  |
Innerwear | $ | 506,843 |  |  | $ | 553,067 |  |  |  |  |
Activewear | 217,749 |  |  | 314,945 |  |  |  |  |
International | 406,031 |  |  | 462,857 |  |  |  |  |
Other | 25,578 |  |  | 58,541 |  |  |  |  |
Total net sales | $ | 1,156,201 |  |  | $ | 1,389,410 |  |  |  |  |
Segment Operating Profit |
| Quarters Ended |  |
| March 30, 2024 |  | April 1, 2023 |  |  |  |
Segment operating profit: |  |  |  |  |  |  |
Innerwear | $ | 111,052 |  |  | $ | 72,608 |  |  |  |  |
Activewear | 1,109 |  |  | 9,974 |  |  |  |  |
International | 49,882 |  |  | 51,349 |  |  |  |  |
Other | (9,577) |  |  | (4,874) |  |  |  |  |
Total segment operating profit | 152,466 |  |  | 129,057 |  |  |  |  |
Items not included in segment operating profit: |  |  |  |  |  |  |
General corporate expenses | (61,237) |  |  | (58,626) |  |  |  |  |
Restructuring and other action-related charges | (31,721) |  |  | (6,121) |  |  |  |  |
Amortization of intangibles | (7,402) |  |  | (6,991) |  |  |  |  |
Total operating profit | 52,106 |  |  | 57,319 |  |  |  |  |
Other expenses | (9,271) |  |  | (14,771) |  |  |  |  |
Interest expense, net | (66,689) |  |  | (58,452) |  |  |  |  |
Loss before income taxes | $ | (23,854) |  |  | $ | (15,904) |  |  |  |  |
Restructuring and other action-related charges | The Company incurred restructuring and other action-related charges that were reported in the following lines in the Condensed Consolidated Statements of Operations:
| Quarters Ended |  |
March 30, 2024 |  | April 1, 2023 |  |  |  |
Cost of sales | $ | 506 |  |  | $ | 4,523 |  |  |  |  |
Selling, general and administrative expenses | 31,215 |  |  | 1,598 |  |  |  |  |
Total included in operating profit | 31,721 |  |  | 6,121 |  |  |  |  |
Other expenses | — |  |  | 8,350 |  |  |  |  |
Interest expense, net | — |  |  | (1,254) |  |  |  |  |
Total included in loss before income taxes | 31,721 |  |  | 13,217 |  |  |  |  |
Income tax expense | — |  |  | — |  |  |  |  |
Total restructuring and other action-related charges | $ | 31,721 |  |  | $ | 13,217 |  |  |  |  |
The components of restructuring and other action-related charges were as follows:
| Quarters Ended |  |
| March 30, 2024 |  | April 1, 2023 |  |  |  |
Global Champion performance plan | $ | 16,752 |  |  | $ | — |  |  |  |  |
Full Potential transformation plan: |  |  |  |  |  |  |
Headcount actions and related severance | 12,187 |  |  | (1,091) |  |  |  |  |
Supply chain segmentation | 2,107 |  |  | 4,523 |  |  |  |  |
Professional services | 490 |  |  | 40 |  |  |  |  |
Technology | 181 |  |  | 3,684 |  |  |  |  |
Gain on classification of assets held for sale | — |  |  | (2,139) |  |  |  |  |
Other | 4 |  |  | 1,104 |  |  |  |  |
Total Full Potential transformation plan | 14,969 |  |  | 6,121 |  |  |  |  |
Total included in operating profit | 31,721 |  |  | 6,121 |  |  |  |  |
Loss on extinguishment of debt included in other expenses | — |  |  | 8,466 |  |  |  |  |
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 loss before income taxes | 31,721 |  |  | 13,217 |  |  |  |  |
Tax effect on actions | — |  |  | — |  |  |  |  |
Total restructuring and other action-related charges | $ | 31,721 |  |  | $ | 13,217 |  |  |  |  |

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