Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Carter’s, Inc. |
Entity Central Index Key | 0001060822 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure Unit_pure in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE DISCLOSURE As required by Section 953(a) of the Dodd-Frank Act and Ite m 40 Regulation S-K, Year Summary for PEO Compensation (1) Average Non-PEO Average Non-PEO (2) Value of Initial Fixed $100 investment based on: Net Income dollars in (5) Adjusted dollars in (6) Total (3) Peer Group (4) (a) (b) (c) (d) (e) (f) (g) (h) (i) 2022 $ 8,606,754 $ 4,760,564 $2,264,230 $1,619,056 $72.36 $ 67.87 $250,038 $388,171 2021 11,056,385 13,931,119 3,801,288 4,249,437 94.49 103.90 339,748 500,764 2020 7,297,118 (185,504) 1,648,590 579,698 86.62 92.36 109,717 279,764 (1) The dollar amounts reported in the column “Compensation Actually Paid to PEO” (column (c)) represent the amount of Compensation Actually Paid (“CAP”) to Michael Casey, our Chief Executive Officer (“CEO”), as computed in accordance with Item 402(v) of Regulation S-K. PEO SCT Total to CAP Reconciliation Year SCT Total Deductions (i) Equity Award (ii) CAP 2022 $ 8,606,754 $ (6,500,136 ) $ 2,653,946 $ 4,760,564 2021 11,056,385 (6,500,323 ) 9,375,057 13,931,119 2020 7,297,118 (6,000,392 ) (1,482,230 ) (185,504 ) (i) Represents the grant date fair value of equity-based awards granted each year, as shown in the Stock Awards column of the Summary Compensation Table. (ii) Reflects the value of equity-based awards calculated in accordance with the SEC methodology for determining CAP for each year shown under generally accepted accounting principles. The fair value of our performance-based restricted stock is calculated based on the probable outcome of the performance conditions determined as of the last day of the fiscal year and our closing stock price on such day. The determination of equity award adjustments to SCT total compensation is detailed in the supplemental table below. PEO Equity Component of CAP Year Fair Value of Year over Year Fair Value as of Year over Year Fair Value at the Value of Total Equity Award Adjustments 2022 $ 4,923,201 $ (1,890,720 ) — $ (378,534 ) — — $ 2,653,947 2021 6,710,481 2,626,294 — 38,282 — — 9,375,057 2020 2,557,575 (3,438,221 ) — (601,584 ) — — (1,482,230 ) (2) The dollar amounts reported in the column “Average Compensation Actually Paid to Non-PEO non-CEO (“Non-CEO S-K. Non-CEO Non-CEO Non-CEO Average Non-PEO Year SCT Total Deductions (i) Equity (ii) CAP 2022 $ 2,264,230 $ (1,313,039 ) $ 667,866 $ 1,619,056 2021 3,801,288 (1,987,866 ) 2,436,014 4,249,437 2020 1,648,590 (887,992 ) (180,899 ) 579,698 * Amounts in rows may not foot across due to rounding. (i) Represents the grant date fair value of equity-based awards granted each year, as shown in the Stock Awards column of the Summary Compensation Table. (ii) Reflects the value of equity-based awards calculated in accordance with the SEC methodology for determining CAP for each year shown under generally accepted accounting principles. The fair value of our performance-based restricted stock is calculated based on the probable outcome of the performance conditions determined as of the last day of the fiscal year and our closing stock price on such day. The determination of equity award adjustments to SCT total compensation is detailed in the supplemental table below . Average Non-PEO Year Fair Value of Year over Year Fair Value as Year over Year Fair Value at Value of Total Equity Award Adjustments 2022 $ 994,495 $ (272,340 ) — $ (54,289 ) — — $ 667,866 2021 2,052,134 372,284 — 11,596 — — 2,436,014 2020 378,538 (487,886 ) — (71,551 ) — — (180,899 ) (3) The amounts in the column “Total Shareholder Return” (column (f)) are calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming reinvestment of all dividends, if any, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. (4) Represents the weighted peer group Total Shareholder Return, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the S&P Composite 1500 Apparel, Accessories & Luxury Goods. (5) The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. (6) Management defines and calculates Adjusted Operating Income as Operating Income as calculated under generally accepted accounting principles, excluding infrequent or extraordinary items. Adjusted Operating Income is a non-GAAP 10-K 8-K | ||
Company Selected Measure Name | Adjusted Operating Income | ||
Named Executive Officers, Footnote [Text Block] | The dollar amounts reported in the column “Average Compensation Actually Paid to Non-PEO non-CEO (“Non-CEO S-K. Non-CEO Non-CEO Non-CEO | ||
Peer Group Issuers, Footnote [Text Block] | Represents the weighted peer group Total Shareholder Return, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the S&P Composite 1500 Apparel, Accessories & Luxury Goods. | ||
PEO Total Compensation Amount | $ 8,606,754 | $ 11,056,385 | $ 7,297,118 |
PEO Actually Paid Compensation Amount | $ 4,760,564 | 13,931,119 | 185,504 |
Adjustment To PEO Compensation, Footnote [Text Block] | (1) The dollar amounts reported in the column “Compensation Actually Paid to PEO” (column (c)) represent the amount of Compensation Actually Paid (“CAP”) to Michael Casey, our Chief Executive Officer (“CEO”), as computed in accordance with Item 402(v) of Regulation S-K. PEO SCT Total to CAP Reconciliation Year SCT Total Deductions (i) Equity Award (ii) CAP 2022 $ 8,606,754 $ (6,500,136 ) $ 2,653,946 $ 4,760,564 2021 11,056,385 (6,500,323 ) 9,375,057 13,931,119 2020 7,297,118 (6,000,392 ) (1,482,230 ) (185,504 ) (i) Represents the grant date fair value of equity-based awards granted each year, as shown in the Stock Awards column of the Summary Compensation Table. (ii) Reflects the value of equity-based awards calculated in accordance with the SEC methodology for determining CAP for each year shown under generally accepted accounting principles. The fair value of our performance-based restricted stock is calculated based on the probable outcome of the performance conditions determined as of the last day of the fiscal year and our closing stock price on such day. The determination of equity award adjustments to SCT total compensation is detailed in the supplemental table below. PEO Equity Component of CAP Year Fair Value of Year over Year Fair Value as of Year over Year Fair Value at the Value of Total Equity Award Adjustments 2022 $ 4,923,201 $ (1,890,720 ) — $ (378,534 ) — — $ 2,653,947 2021 6,710,481 2,626,294 — 38,282 — — 9,375,057 2020 2,557,575 (3,438,221 ) — (601,584 ) — — (1,482,230 ) | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,264,230 | 3,801,288 | 1,648,590 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 1,619,056 | 4,249,437 | 579,698 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (2) The dollar amounts reported in the column “Average Compensation Actually Paid to Non-PEO non-CEO (“Non-CEO S-K. Non-CEO Non-CEO Non-CEO Average Non-PEO Year SCT Total Deductions (i) Equity (ii) CAP 2022 $ 2,264,230 $ (1,313,039 ) $ 667,866 $ 1,619,056 2021 3,801,288 (1,987,866 ) 2,436,014 4,249,437 2020 1,648,590 (887,992 ) (180,899 ) 579,698 * Amounts in rows may not foot across due to rounding. (i) Represents the grant date fair value of equity-based awards granted each year, as shown in the Stock Awards column of the Summary Compensation Table. (ii) Reflects the value of equity-based awards calculated in accordance with the SEC methodology for determining CAP for each year shown under generally accepted accounting principles. The fair value of our performance-based restricted stock is calculated based on the probable outcome of the performance conditions determined as of the last day of the fiscal year and our closing stock price on such day. The determination of equity award adjustments to SCT total compensation is detailed in the supplemental table below . Average Non-PEO Year Fair Value of Year over Year Fair Value as Year over Year Fair Value at Value of Total Equity Award Adjustments 2022 $ 994,495 $ (272,340 ) — $ (54,289 ) — — $ 667,866 2021 2,052,134 372,284 — 11,596 — — 2,436,014 2020 378,538 (487,886 ) — (71,551 ) — — (180,899 ) | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | The following graph summarizes the relationship between Total Shareholder Return (“TSR”) and executive compensation actually paid to the CEO and the Non-CEO | ||
Compensation Actually Paid vs. Net Income [Text Block] | The following graph summarizes the relationship between the adjusted Non-CEO | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | The following graph summarizes the relationship between the adjusted Non-CEO | ||
Total Shareholder Return Vs Peer Group [Text Block] | The following graph summarizes the relationship between Total Shareholder Return (“TSR”) and executive compensation actually paid to the CEO and the Non-CEO | ||
Tabular List [Table Text Block] | P AY ERSUS ERFORMANCE IST OF MPORTANT INANCIAL EASURES The list below consists of our most important performance measures used to link “Compensation Actually Paid” to our NEOs for our performance, over the fiscal year ending December 31, 2022. These measures are used to determine annual incentive payouts and are also key metrics under our performance-based restricted stock awards. The performance measures included in this list are not ranked by relative importance: • Net Sales • Adjusted Operating Income • Adjusted Diluted EPS | ||
Total Shareholder Return Amount | $ 72.36 | 94.49 | 86.62 |
Peer Group Total Shareholder Return Amount | 67.87 | 103.9 | 92.36 |
Net Income (Loss) | $ 250,038,000 | $ 339,748,000 | $ 109,717,000 |
Company Selected Measure Amount | 388,171 | 500,764 | 279,764 |
PEO Name | Michael Casey | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Sales | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Operating Income | ||
Non-GAAP Measure Description [Text Block] | Management defines and calculates Adjusted Operating Income as Operating Income as calculated under generally accepted accounting principles, excluding infrequent or extraordinary items. Adjusted Operating Income is a non-GAAP 10-K 8-K | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Diluted EPS | ||
PEO [Member] | Deductions from SCT Total [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 6,500,136 | $ 6,500,323 | $ 6,000,392 |
PEO [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,653,946 | 9,375,057 | 1,482,230 |
PEO [Member] | Fair Value of Equity Awards Granted in the Year and Outstanding and Unvested as of Year End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,923,201 | 6,710,481 | 2,557,575 |
PEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years and Outstanding and Unvested as of Year End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,890,720 | 2,626,294 | 3,438,221 |
PEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 378,534 | 38,282 | 601,584 |
PEO [Member] | Fair Value at the End of the Prior Year of Equity Awards that were Forfeited in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Value of Dividends or other Earnings Paid on Equity Awards not Otherwise Reflected in Fair Value or Total Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Total Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,653,947 | 9,375,057 | 1,482,230 |
Non-PEO NEO [Member] | Deductions from SCT Total [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,313,039 | 1,987,866 | 887,992 |
Non-PEO NEO [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 667,866 | 2,436,014 | 180,899 |
Non-PEO NEO [Member] | Fair Value of Equity Awards Granted in the Year and Outstanding and Unvested as of Year End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 994,495 | 2,052,134 | 378,538 |
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years and Outstanding and Unvested as of Year End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 272,340 | 372,284 | 487,886 |
Non-PEO NEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 54,289 | 11,596 | 71,551 |
Non-PEO NEO [Member] | Fair Value at the End of the Prior Year of Equity Awards that were Forfeited in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Value of Dividends or other Earnings Paid on Equity Awards not Otherwise Reflected in Fair Value or Total Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Total Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 667,866 | $ 2,436,014 | $ 180,899 |