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RESTRUCTURING (Tables) | 3 Months Ended
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Apr. 01, 2023
Restructuring and Related Activities [Abstract] |
Schedule of restructuring charges by operating segment | The following table shows a summary of TAG Plan charges (in thousands):
| For the 13 Weeks Ended April 1, 2023 |  |
Cost of sales | $ | 5,264 |  |  |
Selling, general and administrative expenses | 7,097 |  |  |
Total | $ | 12,361 |  |  |
TAG Plan restructuring charges by operating segment were as follows (in thousands):
| For the 13 Weeks Ended April 1, 2023
Americas | $ | 2,959 |
Europe | 3,955 |
Asia | 4,268 |
Corporate | 1,179 |
Consolidated | $ | 12,361 |
NWF 2.0 restructuring charges by operating segment were as follows (in thousands):
| For the 13 Weeks Ended April 2, 2022 |  |  |  |  |  |
Americas | $ | 47 |  |  |  |  |  |  |
Europe | 1,250 |  |  |  |  |  |  |
Asia | 1,163 |  |  |  |  |  |  |
Corporate | 91 |  |  |  |  |  |  |
Consolidated | $ | 2,551 |  |  |  |  |  |  |
Rollforward of liability incurred on restructuring plan | The following table shows a rollforward of the accrued liability related to the Company’s TAG Plan (in thousands):
| For the 13 Weeks Ended April 1, 2023
| Liabilities |  |  |  |  |  |  |  | Liabilities
| December 31, 2022 |  | Charges |  | Cash Payments |  |  |  | April 1, 2023
Professional services | — |  |  | 36 |  |  | 16 |  |  |  |  | 20 |
Severance and employee-related benefits | — |  |  | 7,061 |  |  | 2,561 |  |  |  |  | 4,500 |
Charges related to exits of certain product offerings | — |  |  | 5,264 |  |  | — |  |  |  |  | 5,264 |
Total | $ | — |  |  | $ | 12,361 |  |  | $ | 2,577 |  |  |  |  | $ | 9,784 |
The following table shows a rollforward of the accrued liability related to the Company’s NWF 2.0 restructuring plan (in thousands):
| For the 13 Weeks Ended April 1, 2023
| Liabilities |  |  |  |  |  |  |  | Liabilities
| December 31, 2022 |  |  |  | Cash Payments |  |  |  | April 1, 2023
Professional services | $ | 74 |  |  |  |  | $ | 14 |  |  |  |  | $ | 60 |
Severance and employee-related benefits | 2,821 |  |  |  |  | 2,234 |  |  |  |  | 587 |
Total | $ | 2,895 |  |  |  |  | $ | 2,248 |  |  |  |  | $ | 647 |
| For the 13 Weeks Ended April 2, 2022
| Liabilities |  |  |  |  |  |  |  | Liabilities
| January 2, 2021 |  | Charges |  | Cash Payments |  | Non-cash Items |  | April 2, 2022
Store closures | $ | 300 |  |  | $ | 405 |  |  | $ | 349 |  |  | $ | 92 |  |  | $ | 264 |
Professional services | 643 |  |  | 135 |  |  | 421 |  |  | — |  |  | 357 |
Severance and employee-related benefits | 4,388 |  |  | 2,011 |  |  | 1,871 |  |  | — |  |  | 4,528 |
Total | $ | 5,331 |  |  | $ | 2,551 |  |  | $ | 2,641 |  |  | $ | 92 |  |  | $ | 5,149 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
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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 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
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