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REVENUE RECOGNITION (Tables)

6 Months Ended

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.

X

- 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

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X

- 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

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- References

No definition available.

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