Hanesbrands (HBI) 10-Q 12 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Apr. 03, 2021	May 07, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001359841
Current Fiscal Year End Date	--01-01
Document Quarterly Report	true
Document Period End Date	Apr. 3, 2021
Document Transition Report	false
Entity File Number	001-32891
Entity Registrant Name	Hanesbrands Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	20-3552316
Entity Address, Address Line One	1000 East Hanes Mill Road
Entity Address, City or Town	Winston-Salem,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27105
City Area Code	336
Local Phone Number	519-8080
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, Par Value $0.01
Trading Symbol	HBI
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		349,115,441

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Income Statement [Abstract]
Net sales	$ 1,508,029	$ 1,203,070
Cost of sales	905,348	784,902
Gross profit	602,681	418,168
Selling, general and administrative expenses	412,559	370,215
Operating profit	190,122	47,953
Other expenses	2,561	6,101
Interest expense, net	44,460	36,027
Income from continuing operations before income tax expense	143,101	5,825
Income tax expense	14,697	707
Income from continuing operations	128,404	5,118
Loss from discontinued operations, net of tax	(391,666)	(12,992)
Net loss	$ (263,262)	$ (7,874)
Earnings (loss) per share, basic [Abstract]
Continuing operations	$ 0.37	$ 0.01
Discontinued operations	(1.12)	(0.04)
Net loss	(0.75)	(0.02)
Earnings (loss) per share, diluted [Abstract]
Continuing operations	0.37	0.01
Discontinued operations	(1.11)	(0.04)
Net loss	$ (0.75)	$ (0.02)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Condensed Consolidated Statements Of Comprehensive Income (Unaudited) [Abstract]
Net loss	$ (263,262)	$ (7,874)
Other comprehensive income (loss):
Translation adjustments	(25,201)	(117,154)
Unrealized gain on qualifying cash flow hedges, net of tax of $(5,176) and $(7,280), respectively	8,540	7,783
Unrecognized income from pension and postretirement plans, net of tax of $(2,049) and $(1,272), respectively	6,735	3,594
Total other comprehensive loss	(9,926)	(105,777)
Comprehensive loss	$ (273,188)	$ (113,651)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Condensed Consolidated Statements Of Comprehensive Income (Unaudited) [Abstract]
Tax portion of unrealized gain on qualifying cash flow hedges	$ (5,176)	$ (7,280)
Tax portion of unrecognized income from pension and postretirement plans	$ (2,049)	$ (1,272)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 03, 2021	Jan. 02, 2021	Mar. 28, 2020
Assets
Cash and cash equivalents	$ 530,403	$ 900,615	$ 1,069,490
Trade accounts receivable, net	807,738	768,221	666,603
Inventories	1,489,565	1,367,758	1,787,660
Other current assets	153,358	158,700	155,074
Current assets of discontinued operations	303,045	234,086	296,889
Total current assets	3,284,109	3,429,380	3,975,716
Property, net	458,434	477,821	502,167
Right-of-use assets	416,136	432,631	434,225
Trademarks and other identifiable intangibles, net	1,269,932	1,293,847	1,161,350
Goodwill	1,150,138	1,158,938	1,119,646
Deferred tax assets	355,826	367,976	181,807
Other noncurrent assets	54,678	64,773	113,263
Noncurrent assets of discontinued operations	0	494,501	479,927
Total assets	6,989,253	7,719,867	7,968,101
Liabilities and Stockholders’ Equity
Accounts payable	976,887	891,868	876,394
Accrued liabilities	571,410	609,864	357,514
Lease liabilities	132,127	136,510	138,298
Notes payable	0	0	1,660
Accounts Receivable Securitization Facility	0	0	152,153
Current portion of long-term debt	34,375	263,936	2,533
Current liabilities of discontinued operations	288,936	222,183	285,359
Total current liabilities	2,003,735	2,124,361	1,813,911
Long-term debt	3,649,631	3,739,434	4,236,955
Lease liabilities - noncurrent	315,382	331,577	327,745
Pension and postretirement benefits	333,460	381,457	331,205
Other noncurrent liabilities	202,564	216,091	272,780
Noncurrent liabilities of discontinued operations	0	112,989	111,934
Total liabilities	6,504,772	6,905,909	7,094,530
Stockholders’ equity:
Preferred stock (50,000,000 authorized shares; $.01 par value) Issued and outstanding - None	0	0	0
Common stock (2,000,000,000 authorized shares; $.01 par value) Issued and outstanding - 349,090,472, 348,802,220, and 348,035,310, respectively	3,491	3,488	3,480
Additional paid-in capital	304,090	307,883	297,456
Retained earnings	753,785	1,069,546	1,296,060
Accumulated other comprehensive loss	(576,885)	(566,959)	(723,425)
Total stockholders’ equity	484,481	813,958	873,571
Total liabilities and stockholders’ equity	$ 6,989,253	$ 7,719,867	$ 7,968,101

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Apr. 03, 2021	Jan. 02, 2021	Mar. 28, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000	50,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	2,000,000,000	2,000,000,000	2,000,000,000
Common stock, shares issued	349,090,472	348,802,220	348,035,310
Common stock, shares outstanding	349,090,472	348,802,220	348,035,310

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance at Dec. 28, 2019	$ 1,236,595	$ 3,624	$ 304,395	$ 1,546,224	$ (617,648)
Beginning Balance, Shares at Dec. 28, 2019		362,449,000
Net loss	(7,874)			(7,874)
Dividends	$ (54,421)			(54,421)
Dividends, per common share	$ 0.15
Other comprehensive loss	$ (105,777)				(105,777)
Stock-based compensation	4,641		4,641
Net exercise of stock options, vesting of restricted stock units and other, shares		50,000
Net exercise of stock options, vesting of restricted stock units and other	676	$ 1	675
Share repurchases, shares		(14,464,000)
Share repurchases	(200,269)	$ (145)	(12,255)	(187,869)
Ending Balance at Mar. 28, 2020	$ 873,571	$ 3,480	297,456	1,296,060	(723,425)
Ending Balance, Shares at Mar. 28, 2020	348,035,310	348,035,000
Beginning Balance at Jan. 02, 2021	$ 813,958	$ 3,488	307,883	1,069,546	(566,959)
Beginning Balance, Shares at Jan. 02, 2021	348,802,220	348,802,000
Net loss	$ (263,262)			(263,262)
Dividends	$ (52,499)			(52,499)
Dividends, per common share	$ 0.15
Other comprehensive loss	$ (9,926)				(9,926)
Stock-based compensation	(1,534)		(1,534)
Net exercise of stock options, vesting of restricted stock units and other, shares		288,000
Net exercise of stock options, vesting of restricted stock units and other	(2,256)	$ 3	(2,259)
Ending Balance at Apr. 03, 2021	$ 484,481	$ 3,491	$ 304,090	$ 753,785	$ (576,885)
Ending Balance, Shares at Apr. 03, 2021	349,090,472	349,090,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Jan. 02, 2021
Operating activities:
Net loss	$ (263,262)	$ (7,874)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation	24,142	22,781
Amortization of acquisition intangibles	6,179	6,113
Other amortization	3,020	2,477
Impairment of intangible assets and goodwill	163,047	0
Loss on classification of assets held for sale	226,352	0
Amortization of debt issuance costs	4,580	2,123
Other	(5,835)	(5,258)
Changes in assets and liabilities:
Accounts receivable	(63,955)	73,694
Inventories	(122,781)	(86,785)
Other assets	9,606	26,790
Accounts payable	109,197	(13,605)
Accrued pension and postretirement benefits	(38,757)	(21,481)
Accrued liabilities and other	(34,587)	(82,191)
Net cash from operating activities	16,946	(83,216)
Investing activities:
Capital expenditures	(17,804)	(25,759)
Proceeds from sales of assets	2,406	66
Other	1,794	1,216
Net cash from investing activities	(13,604)	(24,477)
Financing activities:
Repayments on Term Loan Facilities	(300,000)	0
Borrowings on Accounts Receivable Securitization Facility	0	227,061
Repayments on Accounts Receivable Securitization Facility	0	(74,909)
Borrowings on Revolving Loan Facilities	0	1,638,000
Repayments on Revolving Loan Facilities	0	(688,000)
Borrowings on International Debt	0	31,222
Borrowings on notes payable	21,106	62,312
Repayments on notes payable	(20,276)	(64,352)
Share repurchases	0	(200,269)
Cash dividends paid	(52,351)	(53,683)
Payments of debt issuance costs
Other	(2,902)	132
Net cash from financing activities	(354,423)	877,514
Effect of changes in foreign exchange rates on cash	(17,662)	(15,061)
Change in cash, cash equivalents and restricted cash	(368,743)	754,760
Cash, cash equivalents and restricted cash at beginning of year	910,603	329,923	$ 329,923
Cash, cash equivalents and restricted cash at end of period	541,860	1,084,683	910,603
Less restricted cash at end of period	1,153	903
Cash and cash equivalents at end of period	540,707	1,083,780
Balances included in the Condensed Consolidated Balance Sheets [Abstract]
Cash and cash equivalents	530,403	1,069,490	900,615
Cash and cash equivalents	10,304	14,290	8,822
Cash and cash equivalents at end of period	540,707	1,083,780
Supplemental Cash Flow Information [Abstract]
Capital expenditures included in accounts payable	4,670		$ 17,931
Right-of-Use assets obtained in exchange for lease obligations	$ 4,755	$ 17,551

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 03, 2021
Basis of Presentation [Abstract]
Basis of Presentation	Basis of Presentation These statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and, in accordance with those rules and regulations, do not include all information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management believes that the disclosures made are adequate for a fair statement of the results of operations, financial condition and cash flows of Hanesbrands Inc. and its consolidated subsidiaries (the “Company” or “Hanesbrands”). In the opinion of management, the condensed consolidated interim financial statements reflect all adjustments, which consist only of normal recurring adjustments, necessary to state fairly the results of operations, financial condition and cash flows for the interim periods presented herein. The preparation of condensed consolidated interim financial statements in conformity with GAAP requires management to make use of estimates and assumptions that affect the reported amounts and disclosures. Actual results may vary from these estimates. These condensed consolidated interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 2, 2021. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year. In the first quarter of 2021, the Company announced that as part of its strategic plan, it was exploring alternatives for its European Innerwear business and subsequently reached the decision to exit this business. The Company determined that its European Innerwear business met held-for-sale and discontinued operations accounting criteria at the end of the first quarter of 2021. Accordingly, the Company began to separately report the results of its European Innerwear business as discontinued operations in its Condensed Consolidated Statements of Income, and to present the related assets and liabilities as held for sale in the Condensed Consolidated Balance Sheets. These changes have been applied to all periods presented. Unless otherwise noted, discussion within these notes to the condensed consolidated interim financial statements relates to continuing operations. See note “Discontinued Operations” for additional information on discontinued operations.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Apr. 03, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Income Taxes In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” The new accounting rules reduce complexity by removing specific exceptions to general principles related to intraperiod tax allocations, ownership changes in foreign investments, and interim period income tax accounting for year-to-date losses that exceed anticipated losses. The new accounting rules also simplify accounting for franchise taxes that are partially based on income, transactions with a government that result in a step up in the tax basis of goodwill, separate financial statements of legal entities that are not subject to tax, and enacted changes in tax laws in interim periods. The new accounting rules were effective for the Company in the first quarter of 2021. The adoption of the new accounting rules did not have a material impact on the Company’s financial condition, results of operations, cash flows or disclosures. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” In January 2021, the FASB clarified the scope of that guidance with the issuance of ASU 2021-01, “Reference Rate Reform: Scope.” The new accounting rules provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. The amendments in this standard can be adopted any time before the fourth quarter of 2022. The Company is currently in the process of evaluating the impact of adoption of the new rules on the Company’s financial condition, results of operations, cash flows and disclosures. Codification Improvements In October 2020, the FASB issued ASU 2020-10, “Codification Improvements.” The new accounting rules improve the consistency of the Codification by including all disclosure guidance in the appropriate Disclosure Section (Section 50) that had only been included in the Other Presentation Matters Section (Section 45) of the Codification. Additionally, the new rules also clarify guidance across various topics including defined benefit plans, foreign currency transactions, and interest expense. The new accounting rules were effective for the Company in the first quarter of 2021. The adoption of the new accounting rules did not have a material impact on the Company’s financial condition, results of operations, cash flows or disclosures.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Apr. 03, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure	Discontinued Operations In the first quarter of 2021, the Company announced that as part of its strategic plan, it was exploring alternatives for its European Innerwear business and subsequently reached the decision to exit this business. The Company determined that its European Innerwear business met held-for-sale and discontinued operations accounting criteria at the end of the first quarter of 2021. Accordingly, the Company began to separately report the results of its European Innerwear business as discontinued operations in its Condensed Consolidated Statements of Income, and to present the related assets and liabilities as held for sale in the Condensed Consolidated Balance Sheets. These changes have been applied to all periods presented. The Company is actively marketing the business to prospective buyers and expects to complete the sale of this business within one year. The operations of the European Innerwear business were previously reported primarily in the International segment. Certain expenses related to its operations were included in general corporate expenses, restructuring and other action-related charges and amortization of intangibles which were previously excluded from segment operating profit and have been reclassified to discontinued operations beginning in the first quarter of 2021 and for all periods presented. Discontinued operations does not include any allocation of corporate overhead expense or interest expense. Upon meeting the criteria for held for sale classification which qualified as a triggering event, the Company performed a full impairment analysis of the disposal group's indefinite-lived intangible assets and goodwill. As a result of the strategic decision to exit the European Innerwear business, a strategic review was completed in the first quarter of 2021 with revised forecasts to include updated market conditions and the removal of strategic operating decisions that would no longer occur under the Company's ownership. The revised forecasts indicated impairment charges of certain indefinite-lived trademarks and license agreements as well as the full goodwill balance. A non-cash charge of $155,745 was recorded as "Impairment of intangible assets and goodwill" in the summarized discontinued operations financial information for the quarter ended April 3, 2021. In addition, the Company recorded a non-cash charge of $226,352 as "Loss on classification of assets held for sale" in the summarized discontinued operations financial information for the quarter ended April 3, 2021 to record a valuation allowance against the net assets held for sale to write down the carrying value of the disposal group to the estimated fair value less costs of disposal. Additionally, the Company recorded an impairment charge of $7,302 in continuing operations on an indefinite-lived trademark which is reflected in the “Selling, general and administrative expenses” line in the Condensed Consolidated Statement of Income. This charge relates to the full impairment of an indefinite-lived trademark related to a specific brand within the European Innerwear business that was excluded from the disposal group as it is not being marketed for sale. The Company intends to exit this brand subsequent to the sale of the European Innerwear business. The Company expects to continue certain sales from its supply chain to the European Innerwear business after the sale of the business. Those sales and the related profit are included in continuing operations in the Condensed Consolidated Statements of Income in all periods presented and have not been eliminated as intercompany transactions in consolidation. The related receivables from the European Innerwear business have been reclassified to “Trade accounts receivable, net” in the Condensed Consolidated Balance Sheets for all periods presented. The operating results of the discontinued operations only reflect revenues and expenses that are directly attributable to the European Innerwear business that will be eliminated from continuing operations. The key components from discontinued operations related to the European Innerwear business are as follows: Quarters Ended April 3, March 28, Net sales $ 135,845 $ 127,671 Cost of sales 75,523 72,107 Gross profit 60,322 55,564 Selling, general and administrative expenses 83,392 69,387 Impairment of intangible assets and goodwill 155,745 — Loss on classification of assets held for sale 226,352 — Operating loss (405,167) (13,823) Interest expense, net 90 822 Other expenses 334 389 Loss from discontinued operations before income tax expense (405,591) (15,034) Income tax benefit (13,925) (2,042) Net loss from discontinued operations, net of tax $ (391,666) $ (12,992) Assets and liabilities of discontinued operations classified as held for sale in the Condensed Consolidated Balance Sheets as of April 3, 2021, January 2, 2021 and March 28, 2020 consist of the following: April 3, January 2, 2021 (1) March 28, 2020 (1) Cash and cash equivalents $ 10,304 $ 8,822 $ 14,290 Trade accounts receivable, net 80,458 84,632 83,331 Inventories 106,192 123,337 176,097 Other current assets 11,190 17,295 23,171 Property, net 61,763 67,950 68,838 Right-of-use assets 34,779 34,637 39,711 Trademarks and other identifiable intangibles, net 208,601 284,170 274,006 Goodwill — 96,692 85,549 Deferred tax assets 8,505 5,438 6,197 Other noncurrent assets 4,860 5,614 5,626 Allowance to adjust assets to estimated fair value, less costs of disposal (223,607) — — Total assets of discontinued operations $ 303,045 $ 728,587 $ 776,816 Accounts payable 62,199 77,636 73,866 Accrued liabilities 120,475 133,431 89,887 Lease liabilities 9,159 10,332 12,270 Notes payable 1,574 784 510 Current portion of long-term debt — — 108,826 Lease liabilities - noncurrent 27,038 28,775 31,103 Pension and postretirement benefits 44,428 46,569 44,306 Other noncurrent liabilities 24,063 37,645 36,525 Total liabilities of discontinued operations $ 288,936 $ 335,172 $ 397,293 (1) Amounts at January 2, 2021 and March 28, 2020 have been classified as current and long-term in the Condensed Consolidated Balance Sheets. The cash flows related to discontinued operations have not been segregated and are included in the Condensed Consolidated Statements of Cash Flows. The following table presents cash flow and non-cash information related to discontinued operations: Quarters Ended April 3, March 28, Depreciation $ 2,608 $ 2,665 Amortization 1,460 1,282 Capital expenditures 3,335 3,538 Impairment of intangible assets and goodwill 155,745 — Loss on classification of assets held for sale 226,352 — Other investing activities 1,794 1,216 Capital expenditures included in accounts payable 52 1,033

Revenue Recognition

Revenue Recognition	3 Months Ended
	Apr. 03, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue is recognized when obligations under the terms of a contract with a customer are satisfied, which occurs at a point in time, upon either shipment or delivery to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods, which includes estimates for variable consideration. Variable consideration includes trade discounts, rebates, volume-based incentives, cooperative advertising and product returns, which are offered within contracts between the Company and its customers, employing the practical expedient for contract costs. Incidental items that are immaterial to the context of the contract are recognized as expense at the transaction date. The following table presents the Company’s revenues disaggregated by the customer’s method of purchase: Quarters Ended April 3, March 28, Third-party brick-and-mortar wholesale $ 1,024,739 $ 886,535 Consumer-directed 483,290 316,535 Total net sales $ 1,508,029 $ 1,203,070 Revenue Sources Third-Party Brick-and-Mortar Wholesale Revenue Third-party brick-and-mortar wholesale revenue is primarily generated by sales of the Company’s products to retailers to support their brick-and-mortar operations. Also included within third-party brick-and-mortar wholesale revenue is royalty revenue from licensing agreements. The Company earns royalties through license agreements with manufacturers of other consumer products that incorporate certain of the Company’s brands. The Company accrues revenue earned under these contracts based upon reported sales from the licensees. Consumer-Directed Revenue

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Apr. 03, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ EquityBasic earnings per share (“EPS”) was computed by dividing net income (loss) by the number of weighted average shares of common stock outstanding during the period. Diluted EPS was calculated to give effect to all potentially issuable dilutive shares of common stock using the treasury stock method. The reconciliation of basic to diluted weighted average shares outstanding is as follows: Quarters Ended April 3, March 28, Basic weighted average shares outstanding 351,003 359,017 Effect of potentially dilutive securities: Stock options 9 220 Restricted stock units 671 188 Employee stock purchase plan and other 3 11 Diluted weighted average shares outstanding 351,686 359,436 For the quarter ended April 3, 2021, there were 592 restricted stock units and 167 stock options to purchase shares of common stock excluded from the diluted earnings per share calculation because their effect would be anti-dilutive. For the quarter ended March 28, 2020, there were 1,080 restricted stock units and no stock options to purchase shares of common stock excluded from the diluted earnings per share calculation because their effect would be anti-dilutive. On May 11, 2021, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.15 per share on outstanding shares of common stock to be paid on June 1, 2021 to stockholders of record at the close of business on May 21, 2021. On February 6, 2020, the Company’s Board of Directors approved a new share repurchase program for up to 40,000 shares to be repurchased in open market transactions, subject to market conditions, legal requirements and other factors. Additionally, management has been granted authority to establish one or more trading plans under Rule 10b5-1 of the Exchange Act in connection with share repurchases, which will allow the Company to repurchase shares in the open market during periods in which the stock trading window is otherwise closed for the Company and certain of the Company’s officers and employees pursuant to the Company’s insider trading policy. Unless terminated earlier by the Company’s Board of Directors, the new program will expire when the Company has repurchased all shares authorized for repurchase under the new program. The new program replaced the Company’s previous share repurchase program for up to 40,000 shares that was originally approved in 2016. For the quarter ended April 3, 2021, the Company did not enter into any transactions to repurchase shares under the new program. For the quarter ended March 28, 2020, the Company entered into transactions to repurchase 14,464 shares at a weighted average repurchase price of $13.83 per share under the new program. The shares were repurchased at a total cost of $200,269. At April 3, 2021, the remaining repurchase authorization under the current share repurchase program totaled 25,536 shares. The primary objective of the share repurchase program is to utilize excess cash to generate shareholder value. Share repurchases are currently prohibited under the Senior Secured Credit Facility as a result of the amendment signed in April 2020. See Note “Debt” for additional information on the Company’s debt facilities.

Inventories

Inventories	3 Months Ended
	Apr. 03, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: April 3, January 2, March 28, Raw materials $ 74,123 $ 67,111 $ 73,450 Work in process 99,619 108,844 115,129 Finished goods 1,315,823 1,191,803 1,599,081 $ 1,489,565 $ 1,367,758 $ 1,787,660

Debt

Debt	3 Months Ended
	Apr. 03, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following: Interest Rate as of April 3, Principal Amount Maturity Date April 3, January 2, Senior Secured Credit Facility: Revolving Loan Facility — $ — $ — December 2022 Term Loan A 2.11% 625,000 625,000 December 2022 Term Loan B — — 300,000 December 2024 Australian Revolving Loan Facility — — — July 2021 5.375% Senior Notes 5.38% 700,000 700,000 May 2025 4.875% Senior Notes 4.88% 900,000 900,000 May 2026 4.625% Senior Notes 4.63% 900,000 900,000 May 2024 3.5% Senior Notes 3.50% 587,959 610,724 June 2024 Accounts Receivable Securitization Facility — — — June 2022 Total debt 3,712,959 4,035,724 Less long-term debt issuance costs 28,953 32,354 Less current maturities 34,375 263,936 Total long-term debt $ 3,649,631 $ 3,739,434 As of April 3, 2021, the Company had $995,824 of borrowing availability under the $1,000,000 Revolving Loan Facility after taking into account $4,176 of standby and trade letters of credit issued and outstanding under this facility. In March 2021, the Company repaid the outstanding balance of Term Loan B which consisted of a required excess cash flow prepayment of $238,936 and a voluntary prepayment of $61,064. The Company’s accounts receivable securitization facility (the “Accounts Receivable Securitization Facility”) entered into in November 2007 was amended in March 2021. The latest amendment decreased the fluctuating facility limit to $175,000 (previously $225,000) and extended the maturity date to June 2022. Additionally, the amendment changed certain ratios and borrowing base calculations, raised pricing and added certain receivables to the pledged collateral pool for the facility. Borrowings under the Accounts Receivable Securitization Facility are permitted only to the extent that the face of the receivables in the collateral pool, net of applicable reserves and other deductions, exceeds the outstanding loans and also subject to a fluctuating facility limit, not to exceed $175,000. The Company’s maximum borrowing capacity under the Accounts Receivable Securitization Facility was $150,000 as of April 3, 2021. The Company had $87,403 of borrowing availability under the Accounts Receivable Securitization Facility at April 3, 2021. The Company had $45,572 of borrowing availability under the Australian Revolving Loan Facility and $85,245 of borrowing availability under other international credit facilities after taking into account outstanding borrowings and letters of credit outstanding under the applicable facilities at April 3, 2021. In April 2020, given the rapidly changing business environment and level of uncertainty being created by the COVID-19 pandemic and the associated impact on future earnings, the Company amended its Senior Secured Credit Facility prior to any potential covenant violation in order to modify the financial covenants and to provide operating flexibility during the COVID-19 crisis. The amendment changed certain provisions and covenants under the Senior Secured Credit Facility through the fiscal quarter ending July 3, 2021, after which the covenants revert to their original, pre-amendment levels. As of April 3, 2021, the Company was in compliance with all financial covenants under its credit facilities and other outstanding indebtedness. Under the terms of its Senior Secured Credit Facility, among other financial and non-financial covenants, the Company is required to maintain a minimum interest coverage ratio and a maximum leverage ratio. The interest coverage ratio covenant is the ratio of the Company’s EBITDA for the preceding four fiscal quarters to its consolidated total interest expense and the maximum leverage ratio covenant is the ratio of the Company’s net debt to EBITDA for the preceding four fiscal quarters. EBITDA is defined as earnings before interest, income taxes, depreciation expense and amortization, as computed pursuant to the Senior Secured Credit Facility. The Company expects to maintain compliance with its covenants for at least one year from the date of these financial statements based on its current expectations and forecasts. If economic conditions caused by the COVID-19 pandemic worsen

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Apr. 03, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss (“AOCI”) are as follows: Cumulative Translation Adjustment (1) Cash Flow Hedges Defined Benefit Plans Income Taxes Accumulated Other Comprehensive Loss Balance at January 2, 2021 $ (52,820) $ (26,538) $ (668,730) $ 181,129 $ (566,959) Amounts reclassified from accumulated other comprehensive loss — 5,242 7,085 (3,004) 9,323 Current-period other comprehensive income (loss) activity (25,201) 8,474 1,699 (4,221) (19,249) Total other comprehensive income (loss) (25,201) 13,716 8,784 (7,225) (9,926) Balance at April 3, 2021 $ (78,021) $ (12,822) $ (659,946) $ 173,904 $ (576,885) Cumulative Translation Adjustment (1) Cash Flow Hedges Defined Benefit Plans Income Taxes Accumulated Other Comprehensive Loss Balance at December 28, 2019 $ (157,138) $ 4,786 $ (629,360) $ 164,064 $ (617,648) Amounts reclassified from accumulated other comprehensive loss — (5,017) 4,866 — (151) Current-period other comprehensive income (loss) activity (117,154) 20,080 — (8,552) (105,626) Total other comprehensive income (loss) (117,154) 15,063 4,866 (8,552) (105,777) Balance at March 28, 2020 $ (274,292) $ 19,849 $ (624,494) $ 155,512 $ (723,425) (1) Cumulative Translation Adjustment includes translation adjustments and net investment hedges. See Note, “Financial Instruments and Risk Management” for additional disclosures about net investment hedges. The Company had the following reclassifications out of AOCI: Component of AOCI Location of Reclassification into Income Amount of Reclassification from AOCI Quarters Ended April 3, March 28, Gain (loss) on forward foreign exchange contracts designated as cash flow hedges Cost of sales $ (4,377) $ 2,869 Income tax 1,208 (762) Loss from discontinued operations, net of tax (244) 1,638 Net of tax (3,413) 3,745 Loss on cross-currency swap contracts designated as cash flow hedges Selling, general and administrative expenses (557) — Income tax 89 — Net of tax (468) — Amortization of deferred actuarial loss and prior service cost Other expenses (7,707) (2,762) Income tax 1,746 1,233 Loss from discontinued operations, net of tax 519 (2,065) Net of tax (5,442) (3,594) Total reclassifications $ (9,323) $ 151

Financial Instruments and Risk

Financial Instruments and Risk Management	3 Months Ended
	Apr. 03, 2021
Disclosure Financial Instruments and Risk Management [Abstract]
Financial Instruments and Risk Management	Financial Instruments and Risk Management The Company uses forward foreign exchange contracts and cross-currency swap contracts to manage its exposures to movements in foreign exchange rates primarily related to the Euro, Australian dollar, Canadian dollar and Mexican peso. The Company also uses a combination of cross-currency swap contracts and long-term debt to manage its exposure to foreign currency risk associated with the Company’s net investment in certain European subsidiaries. Hedge Type April 3, January 2, U.S. dollar equivalent notional amount of derivative instruments: Forward foreign exchange contracts Cash Flow and $ 426,204 $ 617,912 Cross-currency swap contracts Cash Flow $ 352,920 $ — Cross-currency swap contracts Net Investment $ 335,940 $ 335,940 Fair Values of Derivative Instruments The fair values of derivative financial instruments related to forward foreign exchange contracts and cross-currency swap contracts recognized in the Condensed Consolidated Balance Sheets of the Company were as follows: Balance Sheet Location Fair Value April 3, January 2, Derivatives designated as hedging instruments: Forward foreign exchange contracts Other current assets $ 1,676 $ 1 Cross-currency swap contracts Other current assets 2,817 918 Forward foreign exchange contracts Current assets of discontinued operations 226 40 Forward foreign exchange contracts Other noncurrent assets 488 — Derivatives not designated as hedging instruments: Forward foreign exchange contracts Other current assets 1,564 2,459 Forward foreign exchange contracts Current assets of discontinued operations 64 198 Total derivative assets 6,835 3,616 Derivatives designated as hedging instruments: Forward foreign exchange contracts Accrued liabilities (6,152) (12,898) Forward foreign exchange contracts Current liabilities of discontinued operations (656) (4,747) Forward foreign exchange contracts Other noncurrent liabilities — (2,190) Cross-currency swap contracts Other noncurrent liabilities (6,530) (16,526) Derivatives not designated as hedging instruments: Forward foreign exchange contracts Accrued liabilities (5,327) (16,488) Forward foreign exchange contracts Current liabilities of discontinued operations (850) (2,195) Total derivative liabilities (19,515) (55,044) Net derivative liability $ (12,680) $ (51,428) Cash Flow Hedges The Company uses forward foreign exchange contracts and cross-currency swap contracts to reduce the effect of fluctuating foreign currencies on foreign currency-denominated transactions, foreign currency-denominated investments and other known foreign currency exposures. Gains and losses on these contracts are intended to offset losses and gains on the hedged transaction in an effort to reduce the earnings volatility resulting from fluctuating foreign currency exchange rates. On April 1, 2021, in connection with a reduction in the amount of the 3.5% Senior Notes designated in the European net investment hedge discussed below, the Company entered into three pay-fixed rate, receive-fixed rate cross-currency swap contracts with a total notional amount of €300,000. The Company designated these cross-currency swap contracts to hedge the undesignated portion of the foreign currency cash flow exposure related to the Company’s 3.5% Senior Notes, which had a carrying amount of €500,000 as of April 3, 2021. These cross-currency swap contracts, which mature on June 15, 2024, swap Euro-denominated interest payments for U.S. dollar-denominated interest payments, thereby economically converting €300,000 of the Company’s €500,000 fixed-rate 3.5% Senior Notes to a fixed-rate 4.7945% USD-denominated obligation. The Company expects to reclassify into earnings during the next 12 months a net loss from AOCI of approximately $18,182. The Company is hedging exposure to the variability in future foreign currency-denominated cash flows for forecasted transactions over the next 16 months and for long-term debt over the next 39 months. The effect of cash flow hedge derivative instruments on the Condensed Consolidated Statements of Income and AOCI is as follows: Amount of Gain (Loss) Recognized in AOCI on Derivative Instruments Quarters Ended April 3, March 28, Forward foreign exchange contracts $ 8,486 $ 20,080 Cross-currency swap contracts (12) — Total $ 8,474 $ 20,080 Location of Gain (Loss) Amount of Gain (Loss) Reclassified from AOCI into Income Quarters Ended April 3, March 28, Forward foreign exchange contracts (1) Cost of sales $ (4,377) $ 2,869 Forward foreign exchange contracts (1) Loss from discontinued operations, net of tax (308) 2,148 Cross-currency swap contracts (1) Selling, general and administrative expenses (557) — Total $ (5,242) $ 5,017 (1) The Company does not exclude amounts from effectiveness testing for cash flow hedges that would require recognition into earnings based on changes in fair value. Quarters Ended April 3, March 28, Total cost of sales in which the effects of cash flow hedges are recorded $ 905,348 $ 784,902 Total selling, general and administrative expenses in which the effects of cash flow hedges are recorded $ 412,559 $ 370,215 Total loss from discontinued operations, net of tax in which the effects of cash flow hedges are recorded $ (391,666) $ (12,992) Net Investment Hedges In July 2019, the Company entered into two pay-fixed rate, receive-fixed rate cross-currency swap contracts with a total notional amount of €300,000 that were designated as hedges of a portion of the beginning balance of the Company’s net investment in certain European subsidiaries. These cross-currency swap contracts, which mature on May 15, 2024, swap U.S. dollar-denominated interest payments for Euro-denominated interest payments, thereby economically converting a portion of the Company’s fixed-rate 4.625% Senior Notes to a fixed-rate 2.3215% Euro-denominated obligation. In July 2019, the Company also designated the full amount of its 3.5% Senior Notes with a carrying value of €500,000, which is a nonderivative financial instrument, as a hedge of a portion of the beginning balance of the Company’s European net investment. As of April 1, 2021, the Company reduced the amount of its 3.5% Senior Notes designated in the European net investment hedge from €500,000 to €200,000. As of April 3, 2021 and January 2, 2021, the U.S. dollar equivalent carrying value of Euro-denominated long-term debt designated as a partial European net investment hedge was $235,183 and $610,724, respectively. The amount of after-tax gains (losses) included in AOCI in the Condensed Consolidated Balance Sheets related to derivative instruments and nonderivative financial instruments designated as net investment hedges and the amount of gains included in the “Interest expense, net” line in the Condensed Consolidated Statements of Income related to amounts excluded from the assessment of hedge effectiveness for derivative instruments designated as net investment hedges are as follows: Amount of Gain Recognized in AOCI Quarters Ended April 3, March 28, Euro-denominated long-term debt $ 19,300 $ 2,658 Cross-currency swap contracts 7,373 11,732 Total $ 26,673 $ 14,390 Location of Gain Recognized in Income Amount of Gain Recognized in Income Quarters Ended April 3, March 28, Cross-currency swap contracts Interest expense, net $ 1,899 $ 1,947 Quarters Ended April 3, March 28, Total interest expense, net in which the amounts excluded from effectiveness testing for net investment hedges are recorded $ 44,460 $ 36,027 Mark to Market Hedges A derivative used as a hedging instrument whose change in fair value is recognized to act as a hedge against changes in the values of the hedged item is designated as a mark to market hedge. The Company uses forward foreign exchange derivative contracts as hedges against the impact of foreign exchange fluctuations on existing accounts receivable and payable balances and intercompany lending transactions denominated in foreign currencies. Forward foreign exchange derivative contracts are recorded as mark to market hedges when the hedged item is a recorded asset or liability that is revalued in each accounting period. These contracts are not designated as hedges under the accounting standards and are recorded at fair value in the Condensed Consolidated Balance Sheets. Any gains or losses resulting from changes in fair value are recognized directly into earnings. Gains or losses on these contracts largely offset the net remeasurement gains or losses on the related assets and liabilities. The effect of derivative contracts not designated as hedges on the Condensed Consolidated Statements of Income is as follows: Location of Gain (Loss) Amount of Gain (Loss) Recognized in Income Quarters Ended April 3, March 28, Forward foreign exchange contracts Cost of sales $ 12,995 $ 6,549 Forward foreign exchange contracts Selling, general and administrative expenses 2,211 (1,034) Forward foreign exchange contracts Loss from discontinued operations, net of tax 2,639 (425) Total $ 17,845 $ 5,090

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	3 Months Ended
	Apr. 03, 2021
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities As of April 3, 2021, the Company held certain financial assets and liabilities that are required to be measured at fair value on a recurring basis. These consisted of the Company’s derivative instruments related to forward foreign exchange derivative contracts, cross-currency swap derivative contracts and deferred compensation plan liabilities. The fair values of forward foreign exchange derivative contracts are determined using the cash flows of the forward contracts, discount rates to account for the passage of time and current foreign exchange market data which are all based on inputs readily available in public markets and are categorized as Level 2. The fair values of cross-currency swap derivative contracts are determined using the cash flows of the swap contracts, discount rates to account for the passage of time, current foreign exchange and interest rate market data and credit risk, which are all based on inputs readily available in public markets and are categorized as Level 2. The fair value of deferred compensation plans is based on readily available current market data and is categorized as Level 2. The Company’s defined benefit pension plan investments are not required to be measured at fair value on a quarterly recurring basis. There were no changes during the quarter ended April 3, 2021 to the Company’s valuation techniques used to measure asset and liability fair values on a recurring basis. As of and during the quarter ended April 3, 2021, the Company did not have any non-financial assets or liabilities that were required to be measured at fair value on a recurring or non-recurring basis. The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities within continuing operations accounted for at fair value on a recurring basis. Assets (Liabilities) at Fair Value as of April 3, 2021 Total Quoted Prices In Significant Significant Forward foreign exchange contracts - assets $ 3,728 $ — $ 3,728 $ — Cross-currency swap contracts - assets 2,817 — 2,817 — Forward foreign exchange contracts - liabilities (11,479) — (11,479) — Cross-currency swap contracts - liabilities (6,530) — (6,530) — (11,464) — (11,464) — Deferred compensation plan liability (18,809) — (18,809) — Total $ (30,273) $ — $ (30,273) $ — Assets (Liabilities) at Fair Value as of January 2, 2021 Total Quoted Prices In Significant Significant Forward foreign exchange contracts - assets $ 2,460 $ — $ 2,460 $ — Cross-currency swap contracts - assets 918 — 918 — Forward foreign exchange contracts - liabilities (31,576) — (31,576) — Cross-currency swap contracts - liabilities (16,526) — (16,526) — (44,724) — (44,724) — Deferred compensation plan liability (21,878) — (21,878) — Total $ (66,602) $ — $ (66,602) $ — Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, trade accounts receivable, notes receivable and accounts payable approximated fair value as of April 3, 2021 and January 2, 2021. The carrying amount of trade accounts receivable included allowance for doubtful accounts, chargebacks and other deductions of $55,543 and $48,745 as of April 3, 2021 and January 2, 2021, respectively. The fair value of debt, which is classified as a Level 2 liability, was $3,912,331 and $4,230,985 as of April 3, 2021 and January 2, 2021, respectively. Debt had a carrying value of $3,712,959 and $4,035,724 as of April 3, 2021 and January 2, 2021, respectively. The fair values were estimated using quoted market prices as provided in secondary markets, which consider the Company’s credit risk and market related conditions. The carrying amount of the Company’s notes payable, which is classified as a Level 2 liability, approximated fair value primarily due to the short-term nature of these instruments.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 03, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company’s effective income tax rate was 10.3% and 12.1% for the quarters ended April 3, 2021 and March 28, 2020, respectively. The lower effective tax rate for the quarter ended April 3, 2021 was primarily due to a discrete benefit for the release of reserves for unrecognized tax benefits of $7,034, partially offset by a discrete charge for changes in valuation allowances of $3,672.The Company is subject to examinations in the U.S., various state and foreign jurisdictions and believes that it maintains appropriate accruals for unrecognized tax benefits related to uncertain tax positions, which are evaluated each quarter. During the quarter ended April 3, 2021, the Company’s liability for unrecognized tax benefits, including interest and penalties, decreased by $8,414, of which $7,034 was a discrete reduction of the effective income tax rate. The decrease was related to expirations of statutes of limitations and approvals of certain filings with income tax authorities.

Business Segment Information

Business Segment Information	3 Months Ended
	Apr. 03, 2021
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company’s operations are managed and reported in three operating segments, each of which is a reportable segment for financial reporting purposes: Innerwear, Activewear and International. These segments are organized principally by product category and geographic location. Each segment has its own management team that is responsible for the operations of the segment’s businesses, but the segments share a common supply chain and media and marketing platforms. Other consists of the Company’s U.S.-based outlet stores and U.S. hosiery business. The types of products and services from which each reportable segment derives its revenues are as follows: • Innerwear includes sales in the United States of basic branded apparel products that are replenishment in nature under the product categories of men’s underwear, women’s panties, children’s underwear and socks, and intimate apparel, which includes bras and shapewear. • Activewear includes sales in the United States of basic branded products that are primarily seasonal in nature to both retailers and wholesalers, as well as licensed sports apparel and licensed logo apparel in collegiate bookstores, mass retailers and other channels. • International includes sales of products in all of the Company’s categories outside the United States, primarily in Australasia, Europe, Asia, Canada and Latin America. The Company evaluates the operating performance of its segments based upon segment operating profit, which is defined as operating profit before general corporate expenses, restructuring and other action-related charges and amortization of intangibles. The accounting policies of the segments are consistent with those described in Note, “Summary of Significant Accounting Policies” to the Company’s consolidated financial statements included in its Annual Report on Form 10-K for the year ended January 2, 2021. Quarters Ended April 3, March 28, Net sales: Innerwear $ 570,435 $ 422,402 Activewear 364,003 288,000 International 506,261 428,230 Other 67,330 64,438 Total net sales $ 1,508,029 $ 1,203,070 Quarters Ended April 3, March 28, Segment operating profit: Innerwear $ 127,417 $ 81,551 Activewear 60,594 8,108 International 87,180 50,745 Other 1,886 (3,393) Total segment operating profit 277,077 137,011 Items not included in segment operating profit: General corporate expenses (59,823) (57,426) Restructuring and other action-related charges (19,393) (24,324) Amortization of intangibles (7,739) (7,308) Total operating profit 190,122 47,953 Other expenses (2,561) (6,101) Interest expense, net (44,460) (36,027) Income from continuing operations before income tax expense $ 143,101 $ 5,825 For the quarter ended April 3, 2021, the Company incurred pre-tax restructuring and other action-related charges of $19,393, of which $2,807 is reported in the “Cost of sales” line and $16,586 is reported in the “Selling, general and administrative expenses” line in the Condensed Consolidated Statement of Income. For the quarter ended March 28, 2020, the Company incurred pre-tax restructuring and other action-related charges of $24,324, of which $21,811 is reported in the “Cost of sales” line and $2,513 is reported in the “Selling, general and administrative expenses” line in the Condensed Consolidated Statement of Income.

Revenue Recognition (Policies)

Revenue Recognition (Policies)	3 Months Ended
	Apr. 03, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognition, policy	Revenue is recognized when obligations under the terms of a contract with a customer are satisfied, which occurs at a point in time, upon either shipment or delivery to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods, which includes estimates for variable consideration. Variable consideration includes trade discounts, rebates, volume-based incentives, cooperative advertising and product returns, which are offered within contracts between the Company and its customers, employing the practical expedient for contract costs. Incidental items that are immaterial to the context of the contract are recognized as expense at the transaction date.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Apr. 03, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The operating results of the discontinued operations only reflect revenues and expenses that are directly attributable to the European Innerwear business that will be eliminated from continuing operations. The key components from discontinued operations related to the European Innerwear business are as follows: Quarters Ended April 3, March 28, Net sales $ 135,845 $ 127,671 Cost of sales 75,523 72,107 Gross profit 60,322 55,564 Selling, general and administrative expenses 83,392 69,387 Impairment of intangible assets and goodwill 155,745 — Loss on classification of assets held for sale 226,352 — Operating loss (405,167) (13,823) Interest expense, net 90 822 Other expenses 334 389 Loss from discontinued operations before income tax expense (405,591) (15,034) Income tax benefit (13,925) (2,042) Net loss from discontinued operations, net of tax $ (391,666) $ (12,992) Assets and liabilities of discontinued operations classified as held for sale in the Condensed Consolidated Balance Sheets as of April 3, 2021, January 2, 2021 and March 28, 2020 consist of the following: April 3, January 2, 2021 (1) March 28, 2020 (1) Cash and cash equivalents $ 10,304 $ 8,822 $ 14,290 Trade accounts receivable, net 80,458 84,632 83,331 Inventories 106,192 123,337 176,097 Other current assets 11,190 17,295 23,171 Property, net 61,763 67,950 68,838 Right-of-use assets 34,779 34,637 39,711 Trademarks and other identifiable intangibles, net 208,601 284,170 274,006 Goodwill — 96,692 85,549 Deferred tax assets 8,505 5,438 6,197 Other noncurrent assets 4,860 5,614 5,626 Allowance to adjust assets to estimated fair value, less costs of disposal (223,607) — — Total assets of discontinued operations $ 303,045 $ 728,587 $ 776,816 Accounts payable 62,199 77,636 73,866 Accrued liabilities 120,475 133,431 89,887 Lease liabilities 9,159 10,332 12,270 Notes payable 1,574 784 510 Current portion of long-term debt — — 108,826 Lease liabilities - noncurrent 27,038 28,775 31,103 Pension and postretirement benefits 44,428 46,569 44,306 Other noncurrent liabilities 24,063 37,645 36,525 Total liabilities of discontinued operations $ 288,936 $ 335,172 $ 397,293 (1) Amounts at January 2, 2021 and March 28, 2020 have been classified as current and long-term in the Condensed Consolidated Balance Sheets. The cash flows related to discontinued operations have not been segregated and are included in the Condensed Consolidated Statements of Cash Flows. The following table presents cash flow and non-cash information related to discontinued operations: Quarters Ended April 3, March 28, Depreciation $ 2,608 $ 2,665 Amortization 1,460 1,282 Capital expenditures 3,335 3,538 Impairment of intangible assets and goodwill 155,745 — Loss on classification of assets held for sale 226,352 — Other investing activities 1,794 1,216 Capital expenditures included in accounts payable 52 1,033

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Apr. 03, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by the customer’s method of purchase: Quarters Ended April 3, March 28, Third-party brick-and-mortar wholesale $ 1,024,739 $ 886,535 Consumer-directed 483,290 316,535 Total net sales $ 1,508,029 $ 1,203,070

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Apr. 03, 2021
Equity [Abstract]
Reconciliation of Basic to Diluted Weighted Average Shares	The reconciliation of basic to diluted weighted average shares outstanding is as follows: Quarters Ended April 3, March 28, Basic weighted average shares outstanding 351,003 359,017 Effect of potentially dilutive securities: Stock options 9 220 Restricted stock units 671 188 Employee stock purchase plan and other 3 11 Diluted weighted average shares outstanding 351,686 359,436

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 03, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: April 3, January 2, March 28, Raw materials $ 74,123 $ 67,111 $ 73,450 Work in process 99,619 108,844 115,129 Finished goods 1,315,823 1,191,803 1,599,081 $ 1,489,565 $ 1,367,758 $ 1,787,660

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 03, 2021
Debt Disclosure [Abstract]
Debt	Debt consisted of the following: Interest Rate as of April 3, Principal Amount Maturity Date April 3, January 2, Senior Secured Credit Facility: Revolving Loan Facility — $ — $ — December 2022 Term Loan A 2.11% 625,000 625,000 December 2022 Term Loan B — — 300,000 December 2024 Australian Revolving Loan Facility — — — July 2021 5.375% Senior Notes 5.38% 700,000 700,000 May 2025 4.875% Senior Notes 4.88% 900,000 900,000 May 2026 4.625% Senior Notes 4.63% 900,000 900,000 May 2024 3.5% Senior Notes 3.50% 587,959 610,724 June 2024 Accounts Receivable Securitization Facility — — — June 2022 Total debt 3,712,959 4,035,724 Less long-term debt issuance costs 28,953 32,354 Less current maturities 34,375 263,936 Total long-term debt $ 3,649,631 $ 3,739,434

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Apr. 03, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss (“AOCI”) are as follows: Cumulative Translation Adjustment (1) Cash Flow Hedges Defined Benefit Plans Income Taxes Accumulated Other Comprehensive Loss Balance at January 2, 2021 $ (52,820) $ (26,538) $ (668,730) $ 181,129 $ (566,959) Amounts reclassified from accumulated other comprehensive loss — 5,242 7,085 (3,004) 9,323 Current-period other comprehensive income (loss) activity (25,201) 8,474 1,699 (4,221) (19,249) Total other comprehensive income (loss) (25,201) 13,716 8,784 (7,225) (9,926) Balance at April 3, 2021 $ (78,021) $ (12,822) $ (659,946) $ 173,904 $ (576,885) Cumulative Translation Adjustment (1) Cash Flow Hedges Defined Benefit Plans Income Taxes Accumulated Other Comprehensive Loss Balance at December 28, 2019 $ (157,138) $ 4,786 $ (629,360) $ 164,064 $ (617,648) Amounts reclassified from accumulated other comprehensive loss — (5,017) 4,866 — (151) Current-period other comprehensive income (loss) activity (117,154) 20,080 — (8,552) (105,626) Total other comprehensive income (loss) (117,154) 15,063 4,866 (8,552) (105,777) Balance at March 28, 2020 $ (274,292) $ 19,849 $ (624,494) $ 155,512 $ (723,425) (1) Cumulative Translation Adjustment includes translation adjustments and net investment hedges. See Note, “Financial Instruments and Risk Management” for additional disclosures about net investment hedges.
Schedule of Reclassifications out of Accumulated Other Comprehensive Loss	The Company had the following reclassifications out of AOCI: Component of AOCI Location of Reclassification into Income Amount of Reclassification from AOCI Quarters Ended April 3, March 28, Gain (loss) on forward foreign exchange contracts designated as cash flow hedges Cost of sales $ (4,377) $ 2,869 Income tax 1,208 (762) Loss from discontinued operations, net of tax (244) 1,638 Net of tax (3,413) 3,745 Loss on cross-currency swap contracts designated as cash flow hedges Selling, general and administrative expenses (557) — Income tax 89 — Net of tax (468) — Amortization of deferred actuarial loss and prior service cost Other expenses (7,707) (2,762) Income tax 1,746 1,233 Loss from discontinued operations, net of tax 519 (2,065) Net of tax (5,442) (3,594) Total reclassifications $ (9,323) $ 151

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	3 Months Ended
	Apr. 03, 2021
Disclosure Financial Instruments and Risk Management [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	Hedge Type April 3, January 2, U.S. dollar equivalent notional amount of derivative instruments: Forward foreign exchange contracts Cash Flow and $ 426,204 $ 617,912 Cross-currency swap contracts Cash Flow $ 352,920 $ — Cross-currency swap contracts Net Investment $ 335,940 $ 335,940
Fair Values of Derivative Instruments	The fair values of derivative financial instruments related to forward foreign exchange contracts and cross-currency swap contracts recognized in the Condensed Consolidated Balance Sheets of the Company were as follows: Balance Sheet Location Fair Value April 3, January 2, Derivatives designated as hedging instruments: Forward foreign exchange contracts Other current assets $ 1,676 $ 1 Cross-currency swap contracts Other current assets 2,817 918 Forward foreign exchange contracts Current assets of discontinued operations 226 40 Forward foreign exchange contracts Other noncurrent assets 488 — Derivatives not designated as hedging instruments: Forward foreign exchange contracts Other current assets 1,564 2,459 Forward foreign exchange contracts Current assets of discontinued operations 64 198 Total derivative assets 6,835 3,616 Derivatives designated as hedging instruments: Forward foreign exchange contracts Accrued liabilities (6,152) (12,898) Forward foreign exchange contracts Current liabilities of discontinued operations (656) (4,747) Forward foreign exchange contracts Other noncurrent liabilities — (2,190) Cross-currency swap contracts Other noncurrent liabilities (6,530) (16,526) Derivatives not designated as hedging instruments: Forward foreign exchange contracts Accrued liabilities (5,327) (16,488) Forward foreign exchange contracts Current liabilities of discontinued operations (850) (2,195) Total derivative liabilities (19,515) (55,044) Net derivative liability $ (12,680) $ (51,428)
Effect of Cash Flow Hedge Derivative Instruments	The effect of cash flow hedge derivative instruments on the Condensed Consolidated Statements of Income and AOCI is as follows: Amount of Gain (Loss) Recognized in AOCI on Derivative Instruments Quarters Ended April 3, March 28, Forward foreign exchange contracts $ 8,486 $ 20,080 Cross-currency swap contracts (12) — Total $ 8,474 $ 20,080 Location of Gain (Loss) Amount of Gain (Loss) Reclassified from AOCI into Income Quarters Ended April 3, March 28, Forward foreign exchange contracts (1) Cost of sales $ (4,377) $ 2,869 Forward foreign exchange contracts (1) Loss from discontinued operations, net of tax (308) 2,148 Cross-currency swap contracts (1) Selling, general and administrative expenses (557) — Total $ (5,242) $ 5,017 (1) The Company does not exclude amounts from effectiveness testing for cash flow hedges that would require recognition into earnings based on changes in fair value. Quarters Ended April 3, March 28, Total cost of sales in which the effects of cash flow hedges are recorded $ 905,348 $ 784,902 Total selling, general and administrative expenses in which the effects of cash flow hedges are recorded $ 412,559 $ 370,215 Total loss from discontinued operations, net of tax in which the effects of cash flow hedges are recorded $ (391,666) $ (12,992)
Effect of Net Investment Hedge Derivative Instruments	The amount of after-tax gains (losses) included in AOCI in the Condensed Consolidated Balance Sheets related to derivative instruments and nonderivative financial instruments designated as net investment hedges and the amount of gains included in the “Interest expense, net” line in the Condensed Consolidated Statements of Income related to amounts excluded from the assessment of hedge effectiveness for derivative instruments designated as net investment hedges are as follows: Amount of Gain Recognized in AOCI Quarters Ended April 3, March 28, Euro-denominated long-term debt $ 19,300 $ 2,658 Cross-currency swap contracts 7,373 11,732 Total $ 26,673 $ 14,390 Location of Gain Recognized in Income Amount of Gain Recognized in Income Quarters Ended April 3, March 28, Cross-currency swap contracts Interest expense, net $ 1,899 $ 1,947 Quarters Ended April 3, March 28, Total interest expense, net in which the amounts excluded from effectiveness testing for net investment hedges are recorded $ 44,460 $ 36,027
Effect of Mark to Market Hedge Derivative Instruments	The effect of derivative contracts not designated as hedges on the Condensed Consolidated Statements of Income is as follows: Location of Gain (Loss) Amount of Gain (Loss) Recognized in Income Quarters Ended April 3, March 28, Forward foreign exchange contracts Cost of sales $ 12,995 $ 6,549 Forward foreign exchange contracts Selling, general and administrative expenses 2,211 (1,034) Forward foreign exchange contracts Loss from discontinued operations, net of tax 2,639 (425) Total $ 17,845 $ 5,090

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	3 Months Ended
	Apr. 03, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis	The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities within continuing operations accounted for at fair value on a recurring basis. Assets (Liabilities) at Fair Value as of April 3, 2021 Total Quoted Prices In Significant Significant Forward foreign exchange contracts - assets $ 3,728 $ — $ 3,728 $ — Cross-currency swap contracts - assets 2,817 — 2,817 — Forward foreign exchange contracts - liabilities (11,479) — (11,479) — Cross-currency swap contracts - liabilities (6,530) — (6,530) — (11,464) — (11,464) — Deferred compensation plan liability (18,809) — (18,809) — Total $ (30,273) $ — $ (30,273) $ — Assets (Liabilities) at Fair Value as of January 2, 2021 Total Quoted Prices In Significant Significant Forward foreign exchange contracts - assets $ 2,460 $ — $ 2,460 $ — Cross-currency swap contracts - assets 918 — 918 — Forward foreign exchange contracts - liabilities (31,576) — (31,576) — Cross-currency swap contracts - liabilities (16,526) — (16,526) — (44,724) — (44,724) — Deferred compensation plan liability (21,878) — (21,878) — Total $ (66,602) $ — $ (66,602) $ —

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Apr. 03, 2021
Segment Reporting [Abstract]
Net Sales	Quarters Ended April 3, March 28, Net sales: Innerwear $ 570,435 $ 422,402 Activewear 364,003 288,000 International 506,261 428,230 Other 67,330 64,438 Total net sales $ 1,508,029 $ 1,203,070
Segment Operating Profit	Quarters Ended April 3, March 28, Segment operating profit: Innerwear $ 127,417 $ 81,551 Activewear 60,594 8,108 International 87,180 50,745 Other 1,886 (3,393) Total segment operating profit 277,077 137,011 Items not included in segment operating profit: General corporate expenses (59,823) (57,426) Restructuring and other action-related charges (19,393) (24,324) Amortization of intangibles (7,739) (7,308) Total operating profit 190,122 47,953 Other expenses (2,561) (6,101) Interest expense, net (44,460) (36,027) Income from continuing operations before income tax expense $ 143,101 $ 5,825

Discontinued Operations - Incom

Discontinued Operations - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales	$ 135,845	$ 127,671
Cost of sales	75,523	72,107
Gross profit	60,322	55,564
Selling, general and administrative expenses	83,392	69,387
Impairment of intangible assets and goodwill	155,745	0
Loss on classification of assets held for sale	226,352	0
Operating loss	(405,167)	(13,823)
Interest expense, net	90	822
Other expenses	334	389
Loss from discontinued operations before income tax expense	(405,591)	(15,034)
Income tax benefit	(13,925)	(2,042)
Net loss from discontinued operations, net of tax	$ (391,666)	$ (12,992)

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Jan. 02, 2021	Mar. 28, 2020
Disposal Group, Including Discontinued Operation, Unclassified Balance Sheet Disclosures [Abstract]
Cash and cash equivalents	$ 10,304	$ 8,822	$ 14,290
Trade accounts receivable, net	80,458	84,632	83,331
Inventories	106,192	123,337	176,097
Other current assets	11,190	17,295	23,171
Property, net	61,763	67,950	68,838
Right-of-use assets	34,779	34,637	39,711
Trademarks and other identifiable intangibles, net	208,601	284,170	274,006
Goodwill	0	96,692	85,549
Deferred tax assets	8,505	5,438	6,197
Other noncurrent assets	4,860	5,614	5,626
Allowance to adjust assets to estimated fair value, less costs of disposal	(223,607)	0	0
Total assets of discontinued operations	303,045	728,587	776,816
Accounts payable	62,199	77,636	73,866
Accrued liabilities	120,475	133,431	89,887
Lease liabilities	9,159	10,332	12,270
Notes payable	1,574	784	510
Current portion of long-term debt	0	0	108,826
Lease liabilities - noncurrent	27,038	28,775	31,103
Pension and postretirement benefits	44,428	46,569	44,306
Other noncurrent liabilities	24,063	37,645	36,525
Total liabilities of discontinued operations	$ 288,936	$ 335,172	$ 397,293

Discontinued Operations - Cash

Discontinued Operations - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Net Cash Provided by (Used in) Discontinued Operations [Abstract]
Depreciation	$ 2,608	$ 2,665
Amortization	1,460	1,282
Capital expenditures	3,335	3,538
Impairment of intangible assets and goodwill	155,745	0
Loss on classification of assets held for sale	226,352	0
Other investing activities	1,794	1,216
Capital expenditures included in accounts payable	$ 52	$ 1,033

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Discontinued Operations and Disposal Groups [Abstract]
Impairment of intangible assets and goodwill, Discontinued Operations	$ 155,745	$ 0
Loss on classification of assets held for sale	226,352	$ 0
Impairment of intangible assets, Continuing Operations	$ 7,302

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Disaggregation of Revenue
Net sales	$ 1,508,029	$ 1,203,070
Third-party brick-and-mortar wholesale
Disaggregation of Revenue
Net sales	1,024,739	886,535
Consumer-directed
Disaggregation of Revenue
Net sales	$ 483,290	$ 316,535

Stockholders' Equity Reconcilia

Stockholders' Equity Reconciliation of Basic to Diluted Weighted Average Shares (Detail) - shares shares in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Reconciliation of basic to diluted weighted average shares [Line Items]
Basic weighted average shares outstanding	351,003	359,017
Diluted weighted average shares outstanding	351,686	359,436
Stock options
Effect of potentially dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	9	220
Restricted stock units
Effect of potentially dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	671	188
Employee stock purchase plan and other
Effect of potentially dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	3	11

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	May 11, 2021	Apr. 03, 2021	Mar. 28, 2020	Feb. 06, 2020	Apr. 27, 2016
Stockholders' Equity [Line Items]
Dividends, Per Share, Declared		$ 0.15	$ 0.15
Common stock repurchased, cost			$ 200,269
Stock options
Stockholders' Equity [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		167	0
Restricted stock units
Stockholders' Equity [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		592	1,080
2020 Share Repurchase Plan
Stockholders' Equity [Line Items]
Stock repurchase program, number of shares authorized to be repurchased				40,000
Stock repurchased during period, shares			14,464
Common stock repurchased - weighted average price per share			$ 13.83
Common stock repurchased, cost			$ 200,269
Remaining number of shares authorized to be repurchased		25,536
2016 Share Repurchase Plan
Stockholders' Equity [Line Items]
Stock repurchase program, number of shares authorized to be repurchased					40,000
Subsequent Event [Member]
Stockholders' Equity [Line Items]
Dividends, Per Share, Declared	$ 0.15

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Jan. 02, 2021	Mar. 28, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 74,123	$ 67,111	$ 73,450
Work in process	99,619	108,844	115,129
Finished goods	1,315,823	1,191,803	1,599,081
Total Inventories	$ 1,489,565	$ 1,367,758	$ 1,787,660

Debt (Detail)

Debt (Detail) € in Thousands, $ in Thousands	Apr. 03, 2021USD ($)	Apr. 03, 2021EUR (€)	Apr. 01, 2021	Jan. 02, 2021USD ($)	Mar. 28, 2020USD ($)
Debt Instrument [Line Items]
Total debt	$ 3,712,959			$ 4,035,724
Long-term Debt, Excluding Current Maturities [Abstract]
Less long-term debt issuance costs	28,953			32,354
Less current maturities	34,375			263,936
Total long-term debt	$ 3,649,631			3,739,434	$ 4,236,955
Revolving Loan Facility
Debt Instrument [Line Items]
Interest rate	0.00%	0.00%
Total debt	$ 0			0
Term Loan A
Debt Instrument [Line Items]
Interest rate	2.11%	2.11%
Total debt	$ 625,000			625,000
Term Loan B
Debt Instrument [Line Items]
Interest rate	0.00%	0.00%
Total debt	$ 0			300,000
Australian Revolving Loan Facility
Debt Instrument [Line Items]
Interest rate	0.00%	0.00%
Total debt	$ 0			0
5.375% Senior Notes
Debt Instrument [Line Items]
Interest rate	5.38%	5.38%
Total debt	$ 700,000			700,000
4.875% Senior Notes
Debt Instrument [Line Items]
Interest rate	4.88%	4.88%
Total debt	$ 900,000			900,000
4.625% Senior Notes
Debt Instrument [Line Items]
Interest rate	4.63%	4.63%
Total debt	$ 900,000			900,000
3.50% Senior Notes
Debt Instrument [Line Items]
Interest rate	3.50%	3.50%	3.50%
Total debt	$ 587,959			610,724
Total debt | €		€ 500,000
Accounts Receivable Securitization Facility
Debt Instrument [Line Items]
Interest rate	0.00%	0.00%
Total debt	$ 0			$ 0

Debt (Additional Information) (

Debt (Additional Information) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Jan. 02, 2021
Debt Instrument [Line Items]
Repayments on Term Loan Facilities	$ 300,000	$ 0
Revolving Loan Facility
Debt Instrument [Line Items]
Remaining borrowing capacity	995,824
Maximum borrowing capacity	1,000,000
Standby and trade letters of credit issued	4,176
Term Loan B | Excess Cash Flow Prepayment
Debt Instrument [Line Items]
Repayments on Term Loan Facilities	238,936
Term Loan B | Voluntary Prepayment
Debt Instrument [Line Items]
Repayments on Term Loan Facilities	61,064
Accounts Receivable Securitization Facility
Debt Instrument [Line Items]
Remaining borrowing capacity	87,403
Maximum borrowing capacity	175,000		$ 225,000
Line of credit facility, current borrowing capacity	150,000
Australian Revolving Loan Facility
Debt Instrument [Line Items]
Remaining borrowing capacity	45,572
Other International Debt
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 85,245

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance, net of tax	$ (566,959)
Total other comprehensive income (loss)	(9,926)	$ (105,777)
Ending Balance, net of tax	(576,885)	(723,425)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Beginning Balance, before tax	(52,820)	(157,138)
Amounts reclassified from accumulated other comprehensive loss, before tax	0	0
Current-period other comprehensive income (loss) activity, before tax	(25,201)	(117,154)
Total other comprehensive income (loss), before tax	(25,201)	(117,154)
Ending Balance, before tax	(78,021)	(274,292)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Beginning Balance, before tax	(26,538)	4,786
Amounts reclassified from accumulated other comprehensive loss, before tax	5,242	(5,017)
Current-period other comprehensive income (loss) activity, before tax	8,474	20,080
Total other comprehensive income (loss), before tax	13,716	15,063
Ending Balance, before tax	(12,822)	19,849
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Beginning Balance, before tax	(668,730)	(629,360)
Amounts reclassified from accumulated other comprehensive loss, before tax	7,085	4,866
Current-period other comprehensive income (loss) activity, before tax	1,699	0
Total other comprehensive income (loss), before tax	8,784	4,866
Ending Balance, before tax	(659,946)	(624,494)
Income Taxes
Accumulated Other Comprehensive Income (Loss), Tax [Roll Forward]
Beginning Balance, tax	181,129	164,064
Amounts reclassified from accumulated other comprehensive loss, tax	(3,004)	0
Current-period other comprehensive income (loss) activity, tax	(4,221)	(8,552)
Total other comprehensive income (loss), tax	(7,225)	(8,552)
Ending Balance, tax	173,904	155,512
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance, net of tax	(566,959)	(617,648)
Amounts reclassified from accumulated other comprehensive loss, net of tax	9,323	(151)
Current-period other comprehensive income (loss) activity, net of tax	(19,249)	(105,626)
Total other comprehensive income (loss)	(9,926)	(105,777)
Ending Balance, net of tax	$ (576,885)	$ (723,425)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ (905,348)	$ (784,902)
Selling, general and administrative expenses	(412,559)	(370,215)
Other expenses	2,561	6,101
Income Tax	(14,697)	(707)
Loss from discontinued operations, net of tax	391,666	12,992
Net income (loss)	263,262	7,874
Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	(9,323)	151
Reclassification out of Accumulated Other Comprehensive Income | Amortization of deferred actuarial loss and prior service cost
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expenses	(7,707)	(2,762)
Income Tax	1,746	1,233
Loss from discontinued operations, net of tax	519	(2,065)
Net income (loss)	(5,442)	(3,594)
Forward foreign exchange contract | Reclassification out of Accumulated Other Comprehensive Income | Gain (loss) on derivative instruments designated as cash flow hedges
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	(4,377)	2,869
Income Tax	1,208	(762)
Loss from discontinued operations, net of tax	(244)	1,638
Net income (loss)	(3,413)	3,745
Cross-currency swap contract | Reclassification out of Accumulated Other Comprehensive Income | Gain (loss) on derivative instruments designated as cash flow hedges
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	(557)	0
Income Tax	89	0
Net income (loss)	$ (468)	$ 0

Financial Instruments and Ris_3

Financial Instruments and Risk Management (Additional Information) (Detail) € in Thousands, $ in Thousands	Apr. 03, 2021USD ($)	Apr. 01, 2021EUR (€)numberOfCrossCurrencySwaps	Jan. 02, 2021USD ($)	Jul. 10, 2019EUR (€)numberOfCrossCurrencySwaps	Apr. 03, 2021USD ($)	Apr. 03, 2021EUR (€)
3.50% Senior Notes
Derivative [Line Items]
Long-term Debt						€ 500,000
Interest Rate on Senior Notes Issued		3.50%				3.50%
4.625% Senior Notes
Derivative [Line Items]
Interest Rate on Senior Notes Issued						4.63%
Net Investment Hedge | Euro-denominated Long-term Debt | 3.50% Senior Notes
Derivative [Line Items]
Notional Amount of Nonderivative Instruments	$ 235,183	€ 200,000	$ 610,724	€ 500,000
Long-term Debt				€ 500,000
Foreign exchange contract
Derivative [Line Items]
Amount expected to be reclassified into earnings during the next twelve months | $					$ 18,182
Cross-currency swap contract | Net Investment Hedge
Derivative [Line Items]
Number of cross currency swaps | numberOfCrossCurrencySwaps				2
Derivative, Notional Amount				€ 300,000
Cross-Currency Swap Contract - Fixed Interest Rate				2.3215%
Cross-currency swap contract | Net Investment Hedge | 4.625% Senior Notes
Derivative [Line Items]
Interest Rate on Senior Notes Issued						4.625%
Cross-currency swap contract | Cash Flow Hedge
Derivative [Line Items]
Number of cross currency swaps | numberOfCrossCurrencySwaps		3
Derivative, Notional Amount		€ 300,000
Cross-Currency Swap Contract - Fixed Interest Rate		4.7945%
Long-term Debt
Derivative [Line Items]
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge					39 months
Forward foreign exchange contract
Derivative [Line Items]
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge					16 months

Financial Instruments and Ris_4

Financial Instruments and Risk Management Notional Amounts of Derivative Instruments (Detail) € in Thousands, $ in Thousands	Apr. 03, 2021USD ($)	Apr. 01, 2021EUR (€)	Jan. 02, 2021USD ($)	Jul. 10, 2019EUR (€)
Cross-currency swap contract | Cash Flow Hedge
Derivative [Line Items]
Derivative, Notional Amount | €		€ 300,000
Cross-currency swap contract | Net Investment Hedge
Derivative [Line Items]
Derivative, Notional Amount | €				€ 300,000
Cross-currency swap contract | Designated as Hedging Instrument | Cash Flow Hedge
Derivative [Line Items]
Derivative, Notional Amount	$ 352,920		$ 0
Cross-currency swap contract | Designated as Hedging Instrument | Net Investment Hedge
Derivative [Line Items]
Derivative, Notional Amount	335,940		335,940
Forward foreign exchange contract | Designated as Hedging Instrument | Cash Flow and Mark to Market Hedges
Derivative [Line Items]
Derivative, Notional Amount	$ 426,204		$ 617,912

Financial Instruments and Ris_5

Financial Instruments and Risk Management Fair Values of Derivative Instruments (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Jan. 02, 2021
Derivatives, Fair Value [Line Items]
Net fair value of derivative assets and liabilities	$ (12,680)	$ (51,428)
Assets, Total
Derivatives, Fair Value [Line Items]
Total derivative assets	6,835	3,616
Liabilities, Total
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(19,515)	(55,044)
Cross-currency swap contract | Other Current Assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	2,817	918
Cross-currency swap contract | Other Noncurrent Liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(6,530)	(16,526)
Forward foreign exchange contract | Other Current Assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	1,676	1
Forward foreign exchange contract | Other Current Assets | Non-hedges
Derivatives, Fair Value [Line Items]
Total derivative assets	1,564	2,459
Forward foreign exchange contract | Current Assets of Discontinued Operations | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	226	40
Forward foreign exchange contract | Current Assets of Discontinued Operations | Non-hedges
Derivatives, Fair Value [Line Items]
Total derivative assets	64	198
Forward foreign exchange contract | Other noncurrent assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	488	0
Forward foreign exchange contract | Accrued liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(6,152)	(12,898)
Forward foreign exchange contract | Accrued liabilities | Non-hedges
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(5,327)	(16,488)
Forward foreign exchange contract | Current Liabilities of Discontinued Operations | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(656)	(4,747)
Forward foreign exchange contract | Current Liabilities of Discontinued Operations | Non-hedges
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(850)	(2,195)
Forward foreign exchange contract | Other Noncurrent Liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities	$ 0	$ (2,190)

Financial Instruments and Ris_6

Financial Instruments and Risk Management Effect of Cash Flow Hedge Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ 8,474	$ 20,080
Amount of Gain (Loss) Reclassified from AOCI into Income	(5,242)	5,017
Total cost of sales in which the effects of cash flow hedges are recorded	905,348	784,902
Total selling, general and administrative expenses in which the effects of cash flow hedges are recorded	412,559	370,215
Net loss from discontinued operations, net of tax	(391,666)	(12,992)
Cross-currency swap contract
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	(12)	0
Cross-currency swap contract | Selling, general and administrative expenses
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Income	(557)	0
Forward foreign exchange contract
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	8,486	20,080
Forward foreign exchange contract | Cost of Sales
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Income	(4,377)	2,869
Forward foreign exchange contract | Loss from discontinued operations, net of tax
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Income	$ (308)	$ 2,148

Financial Instruments and Ris_7

Financial Instruments and Risk Management Effect of Net Investment Hedge Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Derivatives, Fair Value [Line Items]
Interest expense, net	$ 44,460	$ 36,027
Cross-currency swap contract | Interest expense, net
Derivatives, Fair Value [Line Items]
Amounts of Gain (Loss) Recognized in Income	1,899	1,947
Accumulated Other Comprehensive Loss
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Net Investment Hedges	26,673	14,390
Accumulated Other Comprehensive Loss | Euro-denominated Long-term Debt
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	19,300	2,658
Accumulated Other Comprehensive Loss | Cross-currency swap contract
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ 7,373	$ 11,732

Financial Instruments and Ris_8

Financial Instruments and Risk Management Effect of Mark to Market Hedge Derivative Instruments (Detail) - Forward foreign exchange contract - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ 17,845	$ 5,090
Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	12,995	6,549
Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	2,211	(1,034)
Loss from discontinued operations, net of tax
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ 2,639	$ (425)

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities (Additional Information) (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Jan. 02, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of debt	$ 3,712,959	$ 4,035,724
Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts Receivable, Allowance for Credit Loss, Current	55,543	48,745
Carrying value of debt	3,712,959	4,035,724
Fair Value, Inputs, Level 2 [Member] | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	$ 3,912,331	$ 4,230,985

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities (Fair Value of Financial Assets and Liabilities Measured on Recurring Basis) (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Jan. 02, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value of derivative assets and liabilities	$ (12,680)	$ (51,428)
Fair Value, Measurements, Recurring | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value of derivative assets and liabilities	(11,464)	(44,724)
Deferred compensation plan liability	(18,809)	(21,878)
Net effect of financial asset less financial liability	(30,273)	(66,602)
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets for Identical Assets (Level 1) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value of derivative assets and liabilities	0	0
Deferred compensation plan liability	0	0
Net effect of financial asset less financial liability	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value of derivative assets and liabilities	(11,464)	(44,724)
Deferred compensation plan liability	(18,809)	(21,878)
Net effect of financial asset less financial liability	(30,273)	(66,602)
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value of derivative assets and liabilities	0	0
Deferred compensation plan liability	0	0
Net effect of financial asset less financial liability	0	0
Fair Value, Measurements, Recurring | Cross-currency swap contract | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	2,817	918
Total derivative liabilities	(6,530)	(16,526)
Fair Value, Measurements, Recurring | Cross-currency swap contract | Quoted Prices In Active Markets for Identical Assets (Level 1) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Fair Value, Measurements, Recurring | Cross-currency swap contract | Significant Other Observable Inputs (Level 2) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	2,817	918
Total derivative liabilities	(6,530)	(16,526)
Fair Value, Measurements, Recurring | Cross-currency swap contract | Significant Unobservable Inputs (Level 3) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Fair Value, Measurements, Recurring | Forward foreign exchange contract | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	3,728	2,460
Total derivative liabilities	(11,479)	(31,576)
Fair Value, Measurements, Recurring | Forward foreign exchange contract | Quoted Prices In Active Markets for Identical Assets (Level 1) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Fair Value, Measurements, Recurring | Forward foreign exchange contract | Significant Other Observable Inputs (Level 2) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	3,728	2,460
Total derivative liabilities	(11,479)	(31,576)
Fair Value, Measurements, Recurring | Forward foreign exchange contract | Significant Unobservable Inputs (Level 3) | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Effective income tax rate, percent	10.30%	12.10%
Income Tax Expense (Benefit)	$ 14,697	$ 707
Unrecognized Tax Benefits, Period Increase (Decrease)	(8,414)
Unrecognized Tax Benefit Period Decrease That Impacted Effective Tax Rate	(7,034)
Discrete benefit for the release of reserves for unrecognized tax benefits
Income Tax Expense (Benefit)	(7,034)
Discrete charge for changes in valuation allowances
Income Tax Expense (Benefit)	$ 3,672

Business Segment Information (D

Business Segment Information (Detail) $ in Thousands	3 Months Ended
	Apr. 03, 2021USD ($)numberOfSegments	Mar. 28, 2020USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | numberOfSegments	3
Net sales:
Net sales	$ 1,508,029	$ 1,203,070
Segment operating profit:
Total operating profit	190,122	47,953
Operating profit
General corporate expenses	(59,823)	(57,426)
Restructuring and other action-related charges	(19,393)	(24,324)
Amortization of intangibles	(7,739)	(7,308)
Other expenses	(2,561)	(6,101)
Interest expense, net	(44,460)	(36,027)
Income from continuing operations before income tax expense	143,101	5,825
Innerwear
Net sales:
Net sales	570,435	422,402
Segment operating profit:
Total operating profit	127,417	81,551
Activewear
Net sales:
Net sales	364,003	288,000
Segment operating profit:
Total operating profit	60,594	8,108
International
Net sales:
Net sales	506,261	428,230
Segment operating profit:
Total operating profit	87,180	50,745
Other
Net sales:
Net sales	67,330	64,438
Segment operating profit:
Total operating profit	1,886	(3,393)
Total segment operating profit
Segment operating profit:
Total operating profit	277,077	137,011
Total
Operating profit
Restructuring and other action-related charges	(19,393)	(24,324)
Cost of Sales
Operating profit
Restructuring and other action-related charges	(2,807)	(21,811)
Selling, general and administrative expenses
Operating profit
Restructuring and other action-related charges	$ (16,586)	$ (2,513)