XML 82 R70.htm IDEA: XBRL DOCUMENT
v3.20.2

DEBT ACTIVITY (Details) |  |  |  | 3 Months Ended | 6 Months Ended
--- | --- | --- | --- | --- | ---
Jun. 05, 2020 USD ($) | Feb. 20, 2020 USD ($) | Sep. 26, 2019 USD ($) | Jul. 04, 2020 USD ($) | Jun. 29, 2019 USD ($) | Jul. 04, 2020 USD ($) | Jun. 29, 2019 USD ($)
Debt Instrument [Line Items] |  |  |  |  |  |  |
Aggregate outstanding principal amount |  |  |  | $ 288,500,000 |  | $ 288,500,000 |
Interest expense |  |  |  | 7,874,000 | $ 7,353,000 | 15,338,000 | $ 15,474,000
Term Credit Agreement |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt issuance costs |  | $ 8,100,000 |  |  |  |  |
Debt issuance amortization |  |  |  | 2,600,000 |  | 4,700,000 |
Term Loan Facility | Term Credit Agreement |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum total leverage ratio permitted |  |  | 1.50 |  |  |  |
Prepayment fee percentage, year one | 2.00% |  |  |  |  |  |
Principal prepayment | $ 15,000,000.0 |  |  |  |  |  |
Quarterly amortization payment, initial amount | 8,000,000.0 |  | $ 5,000,000.0 |  |  |  |
Quarterly amortization payment, after September 30, 2020 | $ 10,000,000.0 |  |  |  |  |  |
Period for waived prepayment fees (in days) | 90 days |  |  |  |  |  |
Prepayment fee percentage, year two | 1.00% |  |  |  |  |  |
Minimum liquidity level | $ 125,000,000.0 |  | $ 150,000,000.0 |  |  |  |
Percentage of equity interests in foreign subsidiaries pledged as collateral | 1 |  | 0.65 |  |  |  |
Aggregate outstanding principal amount |  |  |  | 170,000,000.0 |  | 170,000,000.0 |
Net borrowings (repayments) of debt |  |  |  | (20,000,000.0) |  | (30,000,000.0) |
Interest expense |  |  |  | 4,500,000 |  | 9,200,000 |
Term Loan Facility | Term Credit Agreement | Debt Covenant Period One |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum total leverage ratio permitted |  | 2.75 |  |  |  |  |
Prepayment fee percentage, year one |  | 2.00% |  |  |  |  |
Term Loan Facility | Term Credit Agreement | Debt Covenant Period Two |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum total leverage ratio permitted |  | 2.25 |  |  |  |  |
Prepayment fee percentage, year one |  | 1.00% |  |  |  |  |
Term Loan Facility | Term Credit Agreement | Debt Covenant Period Three |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum total leverage ratio permitted |  | 1.50 |  |  |  |  |
Term Loan Facility | Term Credit Agreement | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt instrument, basis spread on variable rate | 8.50% | 8.00% | 6.50% |  |  |  |
Term Loan Facility | Term Credit Agreement | Alternate Base Rate |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt instrument, basis spread on variable rate | 7.50% | 7.00% | 5.50% |  |  |  |
Revolving Credit Facility | Term Credit Agreement |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Line of credit facility, annual authorized prepayment amount |  | $ 200,000,000 |  |  |  |  |
Aggregate outstanding principal amount |  |  |  | 123,800,000 |  | 123,800,000 |
Net borrowings (repayments) of debt |  |  |  | (35,100,000) |  | 95,800,000 |
Line of credit facility, remaining borrowing capacity |  |  |  | 32,500,000 |  | 32,500,000 |
Interest expense |  |  |  | $ 600,000 |  | $ 1,000,000.0 |

X
- Definition Debt Instrument, Covenant, Maximum Total Leverage Ratio + References No definition available. + Details
Name: | fosl_DebtInstrumentCovenantMaximumTotalLeverageRatio
Namespace Prefix: | fosl_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line Of Credit Facility, Annual Authorized Prepayment Amount + References No definition available. + Details
Name: | fosl_LineOfCreditFacilityAnnualAuthorizedPrepaymentAmount
Namespace Prefix: | fosl_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Line Of Credit Facility, Prepayment Fee, Waived, Period + References No definition available. + Details
Name: | fosl_LineOfCreditFacilityPrepaymentFeeWaivedPeriod
Namespace Prefix: | fosl_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line Of Credit Facility, Quarterly Amortization Payment, Initial Amount + References No definition available. + Details
Name: | fosl_LineOfCreditFacilityQuarterlyAmortizationPaymentInitialAmount
Namespace Prefix: | fosl_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Line Of Credit Facility, Quarterly Amortization Payment, Thereafter + References No definition available. + Details
Name: | fosl_LineOfCreditFacilityQuarterlyAmortizationPaymentThereafter
Namespace Prefix: | fosl_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Line of Credit Facility, Equity Interest In Foreign Subsidiaries, Percentage Pledged as Collateral + References No definition available. + Details
Name: | fosl_LineofCreditFacilityEquityInterestInForeignSubsidiariesPercentagePledgedasCollateral
Namespace Prefix: | fosl_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line of Credit Facility, Minimum Liquidity Level + References No definition available. + Details
Name: | fosl_LineofCreditFacilityMinimumLiquidityLevel
Namespace Prefix: | fosl_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Line of Credit Facility, Prepayment Fee Percentage, Year One + References No definition available. + Details
Name: | fosl_LineofCreditFacilityPrepaymentFeePercentageYearOne
Namespace Prefix: | fosl_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line of Credit Facility, Prepayment Fee Percentage, Year Two + References No definition available. + Details
Name: | fosl_LineofCreditFacilityPrepaymentFeePercentageYearTwo
Namespace Prefix: | fosl_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of amortization expense attributable to debt issuance costs. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(8)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28555-108399 + Details
Name: | us-gaap_AmortizationOfFinancingCosts
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28555-108399 + Details
Name: | us-gaap_DeferredFinanceCostsNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of the cost of borrowed funds accounted for as interest expense. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28555-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (210.5-03(11)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of the required periodic payment applied to principal. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityPeriodicPaymentPrincipal
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(3) -URI http://asc.fasb.org/extlink&oid=109500613&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_ProceedsFromRepaymentsOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_DebtInstrumentAxis=fosl_TermCreditAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=fosl_TermLoanFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | fosl_DebtCovenantPeriodAxis=fosl_DebtCovenantPeriodOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | fosl_DebtCovenantPeriodAxis=fosl_DebtCovenantPeriodTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | fosl_DebtCovenantPeriodAxis=fosl_DebtCovenantPeriodThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=fosl_AlternateBaseRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |