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Segment Data and Disaggregated Revenue
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT DATA AND DISAGGREGATED REVENUE SEGMENT DATA AND DISAGGREGATED REVENUE
The Company’s operating segments are based on how the Chief Operating Decision Maker (“CODM”) makes decisions about allocating resources and assessing performance. As such, the CODM receives discrete financial information for the Company's principal business by geographic region based on the Company’s strategy of being a global brand. These geographic regions include North America, Europe, the Middle East and Africa (“EMEA”), Asia-Pacific, and Latin America. Each geographic segment operates exclusively in one industry: the development, marketing and distribution of branded performance apparel, footwear and accessories. Total expenditures for additions to long-lived assets are not disclosed as this information is not regularly provided to the CODM.
Prior to the sale of MyFitnessPal in December 2020, the CODM also received discrete financial information for the Connected Fitness Segment. However, beginning January 1, 2021, the Company no longer reports Connected Fitness as a discrete reportable operating segment (see Note 1 to the unaudited condensed consolidated financial
statements). All prior period balances have been recast to conform to current period presentation. Such reclassifications did not affect total consolidated revenues, consolidated income from operations or consolidated net income.
The Company excludes certain corporate costs from its segment profitability measures. The Company reports these costs within Corporate Other, along with the revenue and costs related to the Company's MMR platforms, which is designed to provide increased transparency and comparability of the Company's operating segments' performance. Furthermore, the majority of the costs included within Corporate Other consists largely of general and administrative expenses not allocated to an operating segment, including expenses associated with centrally managed departments such as global marketing, global IT, global supply chain, innovation, and other corporate support functions; costs related to the Company's global assets and global marketing; costs related to the Company’s headquarters such as restructuring and restructuring related charges; and certain foreign currency hedge gains and losses.
The following tables summarize the Company's net revenues and operating income (loss) by its geographic segments. Intercompany balances were eliminated for separate disclosure:
 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2021202020212020
Net revenues
North America$1,035,862 $962,565 $2,747,082 $2,021,247 
EMEA241,201 210,111 642,308 437,140 
Asia-Pacific211,950 178,895 614,539 397,846 
Latin America56,380 44,338 151,203 108,573 
Corporate Other (1)139 37,112 (871)106,095 
Total net revenues$1,545,532 $1,433,021 $4,154,261 $3,070,901 


 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2021202020212020
Operating income (loss)
North America$292,367 $224,593 $728,698 $251,579 
EMEA41,772 40,834 108,350 43,840 
Asia-Pacific40,529 19,248 111,088 (30,040)
Latin America10,831 1,802 18,289 (50,756)
Corporate Other (1)(213,435)(227,907)(566,266)(883,907)
    Total operating income (loss)172,064 58,570 400,159 (669,284)
Interest expense, net(9,261)(14,955)(36,705)(32,251)
Other income (expense), net(29,476)(7,184)(75,150)(10,493)
    Income (loss) before income taxes$133,327 $36,431 $288,304 $(712,028)
The following tables summarize the Company's net revenues by product category and distribution channels:
 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2021202020212020
Apparel$1,058,231 $927,041 $2,742,465 $1,951,186 
Footwear329,718 298,687 981,406 693,464 
Accessories126,345 145,060 355,244 268,912 
Net Sales1,514,294 1,370,788 4,079,115 2,913,562 
License revenues31,099 25,121 76,017 51,244 
Corporate Other (1)139 37,112 (871)106,095 
    Total net revenues$1,545,532 $1,433,021 $4,154,261 $3,070,901 


 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2021202020212020
Wholesale$910,655 $830,478 $2,477,853 $1,721,432 
Direct-to-consumer603,639 540,310 1,601,262 1,192,130 
Net Sales1,514,294 1,370,788 4,079,115 2,913,562 
License revenues31,099 25,121 76,017 51,244 
Corporate Other (1) 139 37,112 (871)106,095 
    Total net revenues$1,545,532 $1,433,021 $4,154,261 $3,070,901 
(1) Prior to Fiscal 2021, the Company's Connected Fitness segment was separately disclosed, however, effective January 1, 2021, Corporate Other now includes the remaining Connected Fitness business consisting of MMR for Fiscal 2021 and the entire Connected Fitness business for Fiscal 2020. All prior periods were recast to conform to the current period presentation. Such reclassifications did not affect total consolidated net revenues, consolidated income from operations or consolidated net income (see Note 1 to the unaudited condensed consolidated financial statements).