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REVENUE RECOGNITION (Tables) | 6 Months Ended
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Jul. 02, 2022
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | Disaggregated revenues from these sources for the second quarter and two quarters ended fiscal 2022 and 2021 were as follows:
|  | Fiscal quarter ended July 2, 2022
(dollars in thousands) |  | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Wholesale channel |  | $ | — |  |  | $ | 224,016 |  |  | $ | 37,019 |  |  | $ | 261,035 |
Direct-to-consumer |  | 379,097 |  |  | — |  |  | 60,563 |  |  | 439,660 |
|  | $ | 379,097 |  |  | $ | 224,016 |  |  | $ | 97,582 |  |  | $ | 700,695 |
Royalty income, net |  | $ | 1,317 |  |  | $ | 2,885 |  |  | $ | 1,400 |  |  | $ | 5,602 |
|  | Two fiscal quarters ended July 2, 2022
(dollars in thousands) |  | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Wholesale channel |  | $ | — |  |  | $ | 531,317 |  |  | $ | 87,452 |  |  | $ | 618,769 |
Direct-to-consumer |  | 745,455 |  |  | — |  |  | 117,756 |  |  | 863,211 |
|  | $ | 745,455 |  |  | $ | 531,317 |  |  | $ | 205,208 |  |  | $ | 1,481,980 |
Royalty income, net |  | $ | 4,558 |  |  | $ | 6,315 |  |  | $ | 2,203 |  |  | $ | 13,076 |
|  | Fiscal quarter ended July 3, 2021
(dollars in thousands) |  | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Wholesale channel |  | $ | — |  |  | $ | 231,630 |  |  | $ | 33,610 |  |  | $ | 265,240 |
Direct-to-consumer |  | 423,627 |  |  | — |  |  | 57,533 |  |  | 481,160 |
|  | $ | 423,627 |  |  | $ | 231,630 |  |  | $ | 91,143 |  |  | $ | 746,400 |
Royalty income, net |  | $ | 2,360 |  |  | $ | 2,876 |  |  | $ | 1,409 |  |  | $ | 6,645 |
|  | Two fiscal quarters ended July 3, 2021
(dollars in thousands) |  | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Wholesale channel |  | $ | — |  |  | $ | 515,007 |  |  | $ | 76,402 |  |  | $ | 591,409 |
Direct-to-consumer |  | 830,694 |  |  | — |  |  | 111,658 |  |  | 942,352 |
|  | $ | 830,694 |  |  | $ | 515,007 |  |  | $ | 188,060 |  |  | $ | 1,533,761 |
Royalty income, net |  | $ | 5,430 |  |  | $ | 6,651 |  |  | $ | 2,027 |  |  | $ | 14,108 |
Accounts Receivable from Customers and Licensees The components of Accounts receivable, net, were as follows:
(dollars in thousands) |  | July 2, 2022 |  | January 1, 2022 |  | July 3, 2021
Trade receivables from wholesale customers, net |  | $ | 182,253 |  |  | $ | 233,928 |  |  | $ | 164,591 |
Royalties receivable |  | 5,203 |  |  | 5,769 |  |  | 5,991 |
Tenant allowances and other receivables |  | 10,671 |  |  | 10,352 |  |  | 9,478 |
Total gross receivables |  | $ | 198,127 |  |  | $ | 250,049 |  |  | $ | 180,060 |
Less: Wholesale accounts receivable reserves(*) |  | (14,207) |  |  | (18,695) |  |  | (16,103) |
Accounts receivable, net |  | $ | 183,920 |  |  | $ | 231,354 |  |  | $ | 163,957 |
(*)Includes allowance for credit losses of $5.8 million, $7.3 million, and $7.1 million for the periods ended July 2, 2022, January 1, 2022, and July 3, 2021, respectively.
Contract with Customer, Asset and Liability | Total contract liabilities consisted of the following amounts:
(dollars in thousands) | July 2, 2022 |  | January 1, 2022 |  | July 3, 2021
Contract liabilities - current: |  |  |  |  |
Unredeemed gift cards | $ | 21,251 |  |  | $ | 21,619 |  |  | $ | 18,049 |
Unredeemed customer loyalty rewards | 4,456 |  |  | 5,659 |  |  | 4,829 |
Carter’s credit card - upfront bonus(1) | 714 |  |  | 714 |  |  | 714 |
Total contract liabilities - current(2) | $ | 26,421 |  |  | $ | 27,992 |  |  | $ | 23,592 |
Contract liabilities - non-current(3) | $ | 1,786 |  |  | $ | 2,143 |  |  | $ | 2,500 |
Total contract liabilities | $ | 28,207 |  |  | $ | 30,135 |  |  | $ | 26,092 |
(1)The Company received an upfront signing bonus from a third-party financial institution, which will be recognized as revenue on a straight-line basis over the term of the agreement. This amount reflects the current portion of this bonus to be recognized as revenue over the next twelve months. (2)Included with Other current liabilities on the Company’s consolidated balance sheet. (3)This amount reflects the non-current portion of the Carter’s credit card upfront bonus.

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
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