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Restructuring and Related Impairment Charges (Tables)

9 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table illustrates the costs recorded during the three and nine months ended September 30, 2021, as well as the Company's current estimates of the amount expected to be incurred in connection with the 2020 restructuring plan:

			Restructuring and Impairment Charges Recorded																		Estimated Restructuring and Impairment Charges (1)
(In thousands)			Three months ended September 30,									Nine months ended September 30,									Remaining to be Incurred						Total to be Incurred under plan
			2021			2020						2021			2020
Costs recorded in cost of goods sold:
Contract-based royalties			$	—		$	—					$	—		$	—					$	—					$	11,608
Inventory write-offs			107			—						515			—						1,000						2,283
Total costs recorded in cost of goods sold			107			—						515			—						1,000						13,891
Net costs (recoveries) recorded in restructuring and related impairment charges:
Property and equipment impairment			3,064			3,307						3,064			26,211						—						32,344
Intangible asset impairment			—			—						—			—						—						4,351
Right-of-use asset impairment			—			—						—			290,813						—						293,495
Employee related costs			(424)			26,410						(845)			27,239						—						27,734
Contract exit costs (2)			10,794			38,520						15,041			53,462						58,999						153,048
Other asset write off			1,055			—						2,400			—						7,349						22,823
Other restructuring costs			2,167			1,995						6,722			12,533						8,028						27,314
Total costs recorded in restructuring and impairment charges			16,656			70,232						26,382			410,258						74,376						561,109
Total restructuring and impairment charges			$	16,763		$	70,232					$	26,897		$	410,258					$	75,376					$	575,000

(1) Estimated restructuring and impairment charges reflect the high-end of the range of the estimated charges expected by the Company in connection with the 2020 restructuring plan.

(2) Contract exit costs primarily consist of proposed lease exits of certain brand and factory house stores and office facilities, and proposed marketing and other contract exits.

All restructuring and related impairment charges are included in the Company's Corporate Other segment.

For the three months ended September 30, 2021, approximately $10.5 million of the charges are North America related, $5.9 million are Latin America related and $1.4 million are Asia-Pacific related. These charges were offset by a recovery of $1.1 million related to EMEA.

For the three months ended September 30, 2020, approximately $39.1 million of the charges are North America related, $11.5 million are EMEA related, $6.1 million are Latin America related, and $3.6 million are Asia-Pacific related.

For the nine months ended September 30, 2021, approximately $16.7 million of the charges are North America related, $9.2 million are Latin America related and $2.1 million are Asia-Pacific related. These charges were offset by a recovery of $1.1 million related to EMEA.

For the nine months ended September 30, 2020, approximately $367.4 million of the charges are North America related, $11.6 million are EMEA related, $6.4 million are Latin America related and $3.6 million are Asia-Pacific related.

Summary of Activity in the Restructuring Reserve

A summary of the activity in the restructuring reserve related to the Company's 2020 restructuring plan, as well as prior restructuring plans in 2018 and 2017 are as follows:

(In thousands)			Employee Related Costs						Contract Exit Costs						Other Restructuring Related Costs
Balance at January 1, 2021			$	12,868					$	61,642					$	6,098
Net additions (recoveries) charged to expense			(845)						17,814						(872)
Cash payments charged against reserve			(5,471)						(45,378)						(6,078)
Foreign exchange and other			(1,086)						(1,443)						140
Balance at September 30, 2021			$	5,466					$	32,635					$	(712)

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
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-Name Accounting Standards Codification
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-Section S99
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