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REVENUE | 6 Months Ended
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Jul. 02, 2022
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Disaggregation of Revenue. Due to changes in the Company’s product types as discussed in Note 1 to the Condensed Consolidated Financial Statements, product results for the Prior Year Quarter and Prior Year YTD Period have been recast to present results on a comparable basis. The Company's revenue disaggregated by major product category and timing of revenue recognition was as follows (in thousands):
| For the 13 Weeks Ended July 2, 2022
| Americas |  | Europe |  | Asia |  | Corporate |  | Total
Product type |  |  |  |  |  |  |  |  |
Watches: |  |  |  |  |  |  |  |  |
Traditional watches | $ | 118,736 |  |  | $ | 70,436 |  |  | $ | 69,524 |  |  | $ | — |  |  | $ | 258,696 |
Smartwatches | 15,377 |  |  | 10,261 |  |  | 7,783 |  |  | — |  |  | 33,421 |
Total watches | $ | 134,113 |  |  | $ | 80,697 |  |  | $ | 77,307 |  |  | $ | — |  |  | $ | 292,117 |
Leathers | 22,593 |  |  | 5,320 |  |  | 8,034 |  |  | — |  |  | 35,947 |
Jewelry | 9,260 |  |  | 18,639 |  |  | 6,031 |  |  | — |  |  | 33,930 |
Other | 2,306 |  |  | 3,235 |  |  | 1,210 |  |  | 2,423 |  |  | 9,174 |
Consolidated | $ | 168,272 |  |  | $ | 107,891 |  |  | $ | 92,582 |  |  | $ | 2,423 |  |  | $ | 371,168 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Revenue recognized at a point in time | $ | 167,899 |  |  | $ | 107,690 |  |  | $ | 92,441 |  |  | $ | 1,058 |  |  | $ | 369,088 |
Revenue recognized over time | 373 |  |  | 201 |  |  | 141 |  |  | 1,365 |  |  | 2,080 |
Consolidated | $ | 168,272 |  |  | $ | 107,891 |  |  | $ | 92,582 |  |  | $ | 2,423 |  |  | $ | 371,168 |
| For the 13 Weeks Ended July 3, 2021
| Americas |  | Europe |  | Asia |  | Corporate |  | Total
Product type |  |  |  |  |  |  |  |  |
Watches: |  |  |  |  |  |  |  |  |
Traditional watches | $ | 122,701 |  |  | $ | 81,809 |  |  | $ | 85,053 |  |  | $ | 1,053 |  |  | $ | 290,616 |
Smartwatches | 23,878 |  |  | 13,259 |  |  | 5,932 |  |  | 13 |  |  | 43,082 |
Total watches | $ | 146,579 |  |  | $ | 95,068 |  |  | $ | 90,985 |  |  | $ | 1,066 |  |  | $ | 333,698 |
Leathers | 20,833 |  |  | 6,396 |  |  | 6,118 |  |  | — |  |  | 33,347 |
Jewelry | 7,258 |  |  | 20,154 |  |  | 5,165 |  |  | — |  |  | 32,577 |
Other | 2,045 |  |  | 2,779 |  |  | 1,224 |  |  | 5,269 |  |  | 11,317 |
Consolidated | $ | 176,715 |  |  | $ | 124,397 |  |  | $ | 103,492 |  |  | $ | 6,335 |  |  | $ | 410,939 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Revenue recognized at a point in time | $ | 176,289 |  |  | $ | 124,046 |  |  | $ | 103,328 |  |  | $ | 4,580 |  |  | $ | 408,243 |
Revenue recognized over time | 426 |  |  | 351 |  |  | 164 |  |  | 1,755 |  |  | 2,696 |
Consolidated | $ | 176,715 |  |  | $ | 124,397 |  |  | $ | 103,492 |  |  | $ | 6,335 |  |  | $ | 410,939 |
| For the 26 Weeks Ended July 2, 2022
| Americas |  | Europe |  | Asia |  | Corporate |  | Total
Product type |  |  |  |  |  |  |  |  |
Watches: |  |  |  |  |  |  |  |  |
Traditional watches | $ | 234,638 |  |  | $ | 151,584 |  |  | $ | 133,887 |  |  | $ | 13 |  |  | $ | 520,122 |
Smartwatches | 32,649 |  |  | 22,947 |  |  | 15,808 |  |  | 2 |  |  | 71,406 |
Total watches | $ | 267,287 |  |  | $ | 174,531 |  |  | $ | 149,695 |  |  | $ | 15 |  |  | $ | 591,528 |
Leathers | 41,829 |  |  | 12,689 |  |  | 15,614 |  |  | — |  |  | 70,132 |
Jewelry | 17,195 |  |  | 39,775 |  |  | 11,656 |  |  | — |  |  | 68,626 |
Other | 3,888 |  |  | 5,447 |  |  | 2,385 |  |  | 5,015 |  |  | 16,735 |
Consolidated | $ | 330,199 |  |  | $ | 232,442 |  |  | $ | 179,350 |  |  | $ | 5,030 |  |  | $ | 747,021 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Revenue recognized at a point in time | $ | 329,493 |  |  | $ | 231,991 |  |  | $ | 179,049 |  |  | $ | 2,222 |  |  | $ | 742,755 |
Revenue recognized over time | 706 |  |  | 451 |  |  | 301 |  |  | 2,808 |  |  | 4,266 |
Consolidated | $ | 330,199 |  |  | $ | 232,442 |  |  | $ | 179,350 |  |  | $ | 5,030 |  |  | $ | 747,021 |
| For the 26 Weeks Ended July 3, 2021
| Americas |  | Europe |  | Asia |  | Corporate |  | Total
Product type |  |  |  |  |  |  |  |  |
Watches: |  |  |  |  |  |  |  |  |
Traditional watches | $ | 218,037 |  |  | $ | 152,815 |  |  | $ | 161,142 |  |  | $ | 1,053 |  |  | $ | 533,047 |
Smartwatches | 53,102 |  |  | 26,933 |  |  | 15,949 |  |  | 16 |  |  | 96,000 |
Total watches | $ | 271,139 |  |  | $ | 179,748 |  |  | $ | 177,091 |  |  | $ | 1,069 |  |  | $ | 629,047 |
Leathers | 40,462 |  |  | 12,702 |  |  | 14,287 |  |  | — |  |  | 67,451 |
Jewelry | 14,221 |  |  | 36,420 |  |  | 8,073 |  |  | — |  |  | 58,714 |
Other | 3,398 |  |  | 4,762 |  |  | 2,681 |  |  | 7,928 |  |  | 18,769 |
Consolidated | $ | 329,220 |  |  | $ | 233,632 |  |  | $ | 202,132 |  |  | $ | 8,997 |  |  | $ | 773,981 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Revenue recognized at a point in time | $ | 328,334 |  |  | $ | 232,935 |  |  | $ | 201,868 |  |  | $ | 5,486 |  |  | $ | 768,623 |
Revenue recognized over time | 886 |  |  | 697 |  |  | 264 |  |  | 3,511 |  |  | 5,358 |
Consolidated | $ | 329,220 |  |  | $ | 233,632 |  |  | $ | 202,132 |  |  | $ | 8,997 |  |  | $ | 773,981 |
Contract Balances. As of July 2, 2022, the Company had no material contract assets on the Company's condensed consolidated balance sheets and no deferred contract costs. The Company had contract liabilities of (i) $6.0 million and $4.9 million as of July 2, 2022 and January 1, 2022, respectively, related to remaining performance obligations on licensing income, (ii) $3.3 million and $3.0 million as of July 2, 2022 and January 1, 2022, respectively, primarily related to remaining performance obligations on wearable technology products and (iii) $2.9 million and $3.6 million as of July 2, 2022 and January 1, 2022, respectively, related to gift cards issued.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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