Hanesbrands (HBI) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jul. 03, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001359841
Current Fiscal Year End Date	--01-01
Document Quarterly Report	true
Document Period End Date	Jul. 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		349,151,707

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Income Statement [Abstract]
Net sales	$ 1,751,311	$ 1,543,083	$ 3,259,340	$ 2,746,153
Cost of sales	1,069,682	1,029,221	1,975,030	1,814,123
Gross profit	681,629	513,862	1,284,310	932,030
Selling, general and administrative expenses	464,235	311,729	876,794	681,944
Operating profit	217,394	202,133	407,516	250,086
Other expenses	1,855	4,653	4,416	10,754
Interest expense, net	42,440	41,075	86,900	77,102
Income from continuing operations before income tax expense	173,099	156,405	316,200	162,230
Income tax expense	25,236	19,837	39,933	20,544
Income from continuing operations	147,863	136,568	276,267	141,686
Income (loss) from discontinued operations, net of tax	(19,187)	24,613	(410,853)	11,621
Net income (loss)	$ 128,676	$ 161,181	$ (134,586)	$ 153,307
Earnings (loss) per share, basic [Abstract]
Continuing operations	$ 0.42	$ 0.39	$ 0.79	$ 0.40
Discontinued operations	(0.05)	0.07	(1.17)	0.03
Net income (loss)	0.37	0.46	(0.38)	0.43
Earnings (loss) per share, diluted [Abstract]
Continuing operations	0.42	0.39	0.79	0.40
Discontinued operations	(0.05)	0.07	(1.17)	0.03
Net income (loss)	$ 0.37	$ 0.46	$ (0.38)	$ 0.43

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Condensed Consolidated Statements Of Comprehensive Income (Unaudited) [Abstract]
Net income (loss)	$ 128,676	$ 161,181	$ (134,586)	$ 153,307
Other comprehensive income (loss):
Translation adjustments	(11,231)	95,033	(36,432)	(22,121)
Unrealized gain (loss) on qualifying cash flow hedges, net of tax of $(1,140), $4,031, $(6,316) and $(3,249), respectively	2,856	(6,177)	11,396	1,606
Unrecognized income from pension and postretirement plans, net of tax of $(1,566), $(1,794), $(3,615) and $(3,066), respectively	4,332	3,560	11,067	7,154
Total other comprehensive income (loss)	(4,043)	92,416	(13,969)	(13,361)
Comprehensive income (loss)	$ 124,633	$ 253,597	$ (148,555)	$ 139,946

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Condensed Consolidated Statements Of Comprehensive Income (Unaudited) [Abstract]
Tax portion of unrealized gain (loss) on qualifying cash flow hedges	$ (1,140)	$ 4,031	$ (6,316)	$ (3,249)
Tax portion of unrecognized income from pension and postretirement plans	$ (1,566)	$ (1,794)	$ (3,615)	$ (3,066)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021	Jun. 27, 2020
Assets
Cash and cash equivalents	$ 667,298	$ 900,615	$ 556,099
Trade accounts receivable, net	960,993	768,221	1,139,130
Inventories	1,530,622	1,367,758	1,774,139
Other current assets	159,715	158,700	171,435
Current assets of discontinued operations	301,986	234,086	401,347
Total current assets	3,620,614	3,429,380	4,042,150
Property, net	446,356	477,821	496,933
Right-of-use assets	398,526	432,631	438,683
Trademarks and other identifiable intangibles, net	1,258,783	1,293,847	1,196,359
Goodwill	1,148,021	1,158,938	1,144,739
Deferred tax assets	351,309	367,976	193,100
Other noncurrent assets	54,380	64,773	118,296
Noncurrent assets of discontinued operations	0	494,501	493,045
Total assets	7,277,989	7,719,867	8,123,305
Liabilities and Stockholders’ Equity
Accounts payable	1,171,645	891,868	1,101,438
Accrued liabilities	628,007	609,864	452,763
Lease liabilities	129,053	136,510	147,406
Notes payable	0	0	13
Current portion of long-term debt	37,500	263,936	0
Current liabilities of discontinued operations	289,751	222,183	310,972
Total current liabilities	2,255,956	2,124,361	2,012,592
Long-term debt	3,647,482	3,739,434	3,985,631
Lease liabilities - noncurrent	299,380	331,577	330,599
Pension and postretirement benefits	327,597	381,457	328,647
Other noncurrent liabilities	185,384	216,091	270,152
Noncurrent liabilities of discontinued operations	0	112,989	116,364
Total liabilities	6,715,799	6,905,909	7,043,985
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 - 349,115,411, 348,802,220, and 348,092,986, respectively	3,491	3,488	3,481
Additional paid-in capital	310,148	307,883	302,522
Retained earnings	829,479	1,069,546	1,404,326
Accumulated other comprehensive loss	(580,928)	(566,959)	(631,009)
Total stockholders’ equity	562,190	813,958	1,079,320
Total liabilities and stockholders’ equity	$ 7,277,989	$ 7,719,867	$ 8,123,305

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jul. 03, 2021	Jan. 02, 2021	Jun. 27, 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	349,115,441	348,802,220	348,092,986
Common stock, shares outstanding	349,115,441	348,802,220	348,092,986

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 income (loss)	153,307			153,307
Dividends	$ (107,336)			(107,336)
Dividends, per common share	$ 0.30
Other comprehensive income (loss)	$ (13,361)				(13,361)
Stock-based compensation	9,034		9,034
Net exercise of stock options, vesting of restricted stock units and other, shares		108,000
Net exercise of stock options, vesting of restricted stock units and other	1,350	$ 2	1,348
Share repurchases, shares		(14,464,000)
Share repurchases	(200,269)	$ (145)	(12,255)	(187,869)
Ending Balance at Jun. 27, 2020	$ 1,079,320	$ 3,481	302,522	1,404,326	(631,009)
Ending Balance, Shares at Jun. 27, 2020	348,092,986	348,093,000
Dividends, Per Share, Declared	$ 0.30
Beginning Balance at Mar. 28, 2020	$ 873,571	$ 3,480	297,456	1,296,060	(723,425)
Beginning Balance, Shares at Mar. 28, 2020		348,035,000
Net income (loss)	161,181			161,181
Dividends	$ (52,915)			(52,915)
Dividends, per common share	$ 0.15
Other comprehensive income (loss)	$ 92,416				92,416
Stock-based compensation	4,393		4,393
Net exercise of stock options, vesting of restricted stock units and other, shares		58,000
Net exercise of stock options, vesting of restricted stock units and other	674	$ 1	673
Ending Balance at Jun. 27, 2020	$ 1,079,320	$ 3,481	302,522	1,404,326	(631,009)
Ending Balance, Shares at Jun. 27, 2020	348,092,986	348,093,000
Dividends, Per Share, Declared	$ 0.15
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 income (loss)	$ (134,586)			(134,586)
Dividends	$ (105,481)			(105,481)
Dividends, per common share	$ 0.30
Other comprehensive income (loss)	$ (13,969)				(13,969)
Stock-based compensation	3,808		3,808
Net exercise of stock options, vesting of restricted stock units and other, shares		313,000
Net exercise of stock options, vesting of restricted stock units and other	(1,540)	$ 3	(1,543)
Ending Balance at Jul. 03, 2021	$ 562,190	$ 3,491	310,148	829,479	(580,928)
Ending Balance, Shares at Jul. 03, 2021	349,115,441	349,115,000
Dividends, Per Share, Declared	$ 0.30
Beginning Balance at Apr. 03, 2021	$ 484,481	$ 3,491	304,090	753,785	(576,885)
Beginning Balance, Shares at Apr. 03, 2021		349,090,000
Net income (loss)	128,676			128,676
Dividends	$ (52,982)			(52,982)
Dividends, per common share	$ 0.15
Other comprehensive income (loss)	$ (4,043)				(4,043)
Stock-based compensation	5,342		5,342
Net exercise of stock options, vesting of restricted stock units and other, shares		25,000
Net exercise of stock options, vesting of restricted stock units and other	716	$ 0	716
Ending Balance at Jul. 03, 2021	$ 562,190	$ 3,491	$ 310,148	$ 829,479	$ (580,928)
Ending Balance, Shares at Jul. 03, 2021	349,115,441	349,115,000
Dividends, Per Share, Declared	$ 0.15

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Jan. 02, 2021
Operating activities:
Net income (loss)	$ 128,676	$ 161,181	$ (134,586)	$ 153,307
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation			43,565	45,399
Amortization of acquisition intangibles			10,978	12,199
Other amortization			5,814	5,107
Impairment of intangible assets and goodwill			163,047	20,319
Loss on classification of assets held for sale	9,828	0	236,180	0
Amortization of debt issuance costs			7,669	5,119
Other			(14,224)	16,247
Changes in assets and liabilities:
Accounts receivable			(200,106)	(392,134)
Inventories			(175,149)	(61,409)
Other assets			4,451	(31,570)
Accounts payable			300,318	210,338
Accrued pension and postretirement benefits			(39,176)	(19,318)
Accrued liabilities and other			3,475	18,603
Net cash from operating activities			212,256	(17,793)
Investing activities:
Capital expenditures			(25,331)	(46,512)
Proceeds from sales of assets			2,455	66
Other			6,937	5,823
Net cash from investing activities			(15,939)	(40,623)
Financing activities:
Repayments on Term Loan Facilities			(306,250)	0
Borrowings on Accounts Receivable Securitization Facility			0	227,061
Repayments on Accounts Receivable Securitization Facility			0	(227,061)
Borrowings on Revolving Loan Facilities			0	1,638,000
Repayments on Revolving Loan Facilities			0	(1,638,000)
Borrowings on Senior Notes			0	700,000
Borrowings on International Debt			0	31,222
Borrowings on notes payable			42,638	116,669
Repayments on notes payable			(43,066)	(112,373)
Share repurchases			0	(200,269)
Cash dividends paid			(104,719)	(105,896)
Other			(2,524)	(14,035)
Net cash from financing activities			(413,921)	415,318
Effect of changes in foreign exchange rates on cash			(16,780)	(2,669)
Change in cash, cash equivalents and restricted cash			(234,384)	354,233
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	676,219	684,156	676,219	684,156	910,603
Less restricted cash at end of period	0	1,042	0	1,042
Cash and cash equivalents at end of period	676,219	683,114	676,219	683,114
Balances included in the Condensed Consolidated Balance Sheets [Abstract]
Cash and cash equivalents	667,298	556,099	667,298	556,099	900,615
Cash and cash equivalents, included in current assets of discontinued operations	8,921	127,015	8,921	127,015	8,822
Cash and cash equivalents at end of period	$ 676,219	$ 683,114	676,219	683,114
Supplemental Cash Flow Information [Abstract]
Capital expenditures included in accounts payable at end of period			11,477		$ 17,931
Right-of-Use assets obtained in exchange for lease obligations			$ 37,725	$ 23,769

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 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.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jul. 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	6 Months Ended
	Jul. 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 before the end of the first quarter of 2022. 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 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 six months ended July 3, 2021. In addition, the Company recorded non-cash charges of $9,828 and $236,180 as "Loss on classification of assets held for sale" in the summarized discontinued operations financial information for the quarter and the six months ended July 3, 2021, respectively, 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. The non-cash charge recorded in the quarter ended July 3, 2021 resulted from changes in working capital balances and foreign exchange rates. The Company will continue to assess the valuation allowance in each interim period until the European Innerwear business is sold. Additionally, the Company recorded an impairment charge of $7,302 in continuing operations on an indefinite-lived trademark for the six months ended July 3, 2021 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. During the second quarter of 2020, the Company completed a quantitative impairment analysis for certain indefinite-lived intangible assets as a result of the significant impact of the COVID-19 pandemic on their performance. Based on this analysis, the Company recorded impairment charges of $20,319 on certain indefinite-lived trademarks and other intangible assets within the European Innerwear business which are reflected in the “Impairment of intangible assets and goodwill” line in the summarized discontinued operations financial information for the quarter and six months ended June 27, 2020. 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 and in “Other” in note “Business Segment Information” 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 Six Months Ended July 3, June 27, July 3, June 27, Net sales $ 117,506 $ 205,591 $ 253,351 $ 333,262 Cost of sales 63,137 86,441 138,660 158,548 Gross profit 54,369 119,150 114,691 174,714 Selling, general and administrative expenses 61,134 59,428 144,526 128,815 Impairment of intangible assets and goodwill — 20,319 155,745 20,319 Loss on classification of assets held for sale 9,828 — 236,180 — Operating income (loss) (16,593) 39,403 (421,760) 25,580 Other expenses 280 397 614 786 Interest expense, net 69 584 159 1,406 Income (loss) from discontinued operations before income tax expense (16,942) 38,422 (422,533) 23,388 Income tax expense (benefit) 2,245 13,809 (11,680) 11,767 Net income (loss) from discontinued operations, net of tax $ (19,187) $ 24,613 $ (410,853) $ 11,621 Assets and liabilities of discontinued operations classified as held for sale in the Condensed Consolidated Balance Sheets as of July 3, 2021, January 2, 2021 and June 27, 2020 consist of the following: July 3, January 2, 2021 (1) June 27, 2020 (1) Cash and cash equivalents $ 8,921 $ 8,822 $ 127,015 Trade accounts receivable, net 70,432 84,632 68,041 Inventories 119,627 123,337 184,304 Other current assets 15,114 17,295 21,987 Property, net 63,222 67,950 68,916 Right-of-use assets 34,051 34,637 40,994 Trademarks and other identifiable intangibles, net 211,534 284,170 282,362 Goodwill — 96,692 88,445 Deferred tax assets 10,376 5,438 6,947 Other noncurrent assets 4,421 5,614 5,381 Allowance to adjust assets to estimated fair value, less costs of disposal (235,712) — — Total assets of discontinued operations $ 301,986 $ 728,587 $ 894,392 Accounts payable $ 70,185 $ 77,636 $ 61,179 Accrued liabilities 111,321 133,431 115,465 Lease liabilities 8,693 10,332 13,026 Notes payable 377 784 8,790 Current portion of long-term debt — — 112,512 Lease liabilities - noncurrent 26,766 28,775 31,971 Pension and postretirement benefits 44,328 46,569 45,405 Other noncurrent liabilities 28,081 37,645 38,988 Total liabilities of discontinued operations $ 289,751 $ 335,172 $ 427,336 (1) Amounts at January 2, 2021 and June 27, 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 Six Months Ended July 3, June 27, July 3, June 27, Depreciation $ — $ 2,682 $ 2,608 $ 5,347 Amortization — 1,262 1,460 2,544 Capital expenditures 735 1,862 4,070 5,400 Impairment of intangible assets and goodwill — 20,319 155,745 20,319 Loss on classification of assets held for sale 9,828 — 236,180 — Other investing activities 1,580 615 3,374 1,831 Capital expenditures included in accounts payable at end of period 486 264 486 264 Right-of-use assets obtained in exchange for lease obligations 1,642 — 3,137 201

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jul. 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 Six Months Ended July 3, June 27, July 3, June 27, Third-party brick-and-mortar wholesale $ 1,233,531 $ 1,164,078 $ 2,258,270 $ 2,050,613 Consumer-directed 517,780 379,005 1,001,070 695,540 Total net sales $ 1,751,311 $ 1,543,083 $ 3,259,340 $ 2,746,153 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. Additionally, in the quarter and six months ended June 27, 2020, third-party brick-and-mortar wholesale revenue included $514,256 of revenue from contracts with governments generated from the sale of both cloth face coverings and gowns for use during the COVID-19 pandemic. Receivables from government contracts of $484,162 were included in “Trade accounts receivable, net” in the Company’s Condensed Consolidated Balance Sheet at June 27, 2020. Consumer-Directed Revenue

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jul. 03, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Basic 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 Six Months Ended July 3, June 27, July 3, June 27, Basic weighted average shares outstanding 350,987 350,538 350,995 354,778 Effect of potentially dilutive securities: Stock options 24 143 16 182 Restricted stock units 1,039 143 855 165 Employee stock purchase plan and other 2 5 3 8 Diluted weighted average shares outstanding 352,052 350,829 351,869 355,133 The following securities were excluded from the diluted earnings per share calculation because their effect would be anti-dilutive: Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Stock options 83 — 167 — Restricted stock units 45 1,599 44 1,330 On July 27, 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 August 31, 2021 to stockholders of record at the close of business on August 10, 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 quarters ended July 3, 2021 and June 27, 2020 and the six months ended July 3, 2021, the Company did not enter into any transactions to repurchase shares under the new program. For the six months ended June 27, 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 July 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 were previously prohibited under the Senior Secured Credit Facility as a result of the amendment signed in April 2020. The Company terminated such amendment when it submitted its April 3, 2021 compliance certificate in order to reduce interest expense and increase flexibility for restricted payments, investments, indebtedness, and permitted acquisitions. See Note “Debt” for additional information on the Company’s debt facilities.

Inventories

Inventories	6 Months Ended
	Jul. 03, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: July 3, January 2, June 27, Raw materials $ 72,436 $ 67,111 $ 80,610 Work in process 101,862 108,844 127,924 Finished goods 1,356,324 1,191,803 1,565,605 $ 1,530,622 $ 1,367,758 $ 1,774,139

Debt

Debt	6 Months Ended
	Jul. 03, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following: Interest Rate as of July 3, Principal Amount Maturity Date July 3, January 2, Senior Secured Credit Facility: Revolving Loan Facility — $ — $ — December 2022 Term Loan A 1.34% 618,750 625,000 December 2022 Term Loan B — — 300,000 December 2024 Australian Revolving Loan Facility — — — July 2022 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% 593,261 610,724 June 2024 Accounts Receivable Securitization Facility — — — June 2022 Total debt 3,712,011 4,035,724 Less long-term debt issuance costs 27,029 32,354 Less current maturities 37,500 263,936 Total long-term debt $ 3,647,482 $ 3,739,434 As of July 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 July 3, 2021. The Company had $88,833 of borrowing availability under the Accounts Receivable Securitization Facility at July 3, 2021. The Company had $44,994 of borrowing availability under the Australian Revolving Loan Facility and $33,610 of borrowing availability under other international credit facilities after taking into account outstanding borrowings and letters of credit outstanding under the applicable facilities at July 3, 2021. The Australian Revolving Loan Facility, originally entered into in July 2016, was amended in July 2021 to extend the maturity date to July 2022 and to reduce the bilateral cash advance limit from A$50,000 to A$46,000 with an offsetting increase in the bank overdraft limit from A$10,000 to A$14,000. 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 ended July 3, 2021, after which the covenants were to revert to their original, pre-amendment levels. The Company voluntarily terminated the covenant relief amendment when it submitted its April 3, 2021 compliance certificate in order to reduce interest expense and increase flexibility for restricted payments, investments, indebtedness, and permitted acquisitions. After termination, the covenants reverted to their original, pre-amendment levels for the fiscal quarter ended July 3, 2021. As of July 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 do not continue to improve or otherwise worsen, including as a result of any new virus variants or vaccine distribution or efficacy, and the Company’s earnings and operating cash flows do not continue to recover as currently estimated by management, this could impact the Company’s ability to maintain compliance with its financial covenants and require the Company to seek additional amendments to its Senior Secured Credit Facility. If the Company is not able to obtain such necessary additional amendments, this would lead to an event of default and, if not cured timely, its lenders could require the Company to repay its outstanding debt. In that situation, the Company may not be able to raise sufficient debt or equity capital, or divest assets, to refinance or repay the lenders.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jul. 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 April 3, 2021 $ (78,021) $ (12,822) $ (659,946) $ 173,904 $ (576,885) Amounts reclassified from accumulated other comprehensive loss — 4,671 6,022 (2,993) 7,700 Current-period other comprehensive income (loss) activity (11,231) (675) (124) 287 (11,743) Total other comprehensive income (loss) (11,231) 3,996 5,898 (2,706) (4,043) Balance at July 3, 2021 $ (89,252) $ (8,826) $ (654,048) $ 171,198 $ (580,928) 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 — 9,913 13,107 (5,997) 17,023 Current-period other comprehensive income (loss) activity (36,432) 7,799 1,575 (3,934) (30,992) Total other comprehensive income (loss) (36,432) 17,712 14,682 (9,931) (13,969) Balance at July 3, 2021 $ (89,252) $ (8,826) $ (654,048) $ 171,198 $ (580,928) (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. Cumulative Translation Adjustment (1) Cash Flow Hedges Defined Benefit Plans Income Taxes Accumulated Other Comprehensive Loss Balance at March 28, 2020 $ (274,292) $ 19,849 $ (624,494) $ 155,512 $ (723,425) Amounts reclassified from accumulated other comprehensive loss — (3,157) 5,423 (416) 1,850 Current-period other comprehensive income (loss) activity 95,033 (7,051) (69) 2,653 90,566 Total other comprehensive income (loss) 95,033 (10,208) 5,354 2,237 92,416 Balance at June 27, 2020 $ (179,259) $ 9,641 $ (619,140) $ 157,749 $ (631,009) 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 — (8,174) 10,289 (416) 1,699 Current-period other comprehensive income (loss) activity (22,121) 13,029 (69) (5,899) (15,060) Total other comprehensive income (loss) (22,121) 4,855 10,220 (6,315) (13,361) Balance at June 27, 2020 $ (179,259) $ 9,641 $ (619,140) $ 157,749 $ (631,009) (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 Six Months Ended July 3, June 27, July 3, June 27, Gain (loss) on forward foreign exchange contracts designated as cash flow hedges Cost of sales $ (5,278) $ 1,758 $ (9,655) $ 4,627 Income tax 1,444 (483) 2,652 (1,245) Income (loss) from discontinued operations, net of tax (1,278) 1,080 (1,522) 2,718 Net of tax (5,112) 2,355 (8,525) 6,100 Gain (loss) on cross-currency swap contracts designated as cash flow hedges Selling, general and administrative expenses 3,168 — 2,611 — Interest expense, net (1,018) — (1,018) — Income tax (312) — (223) — Net of tax 1,838 — 1,370 — Amortization of deferred actuarial loss and prior service cost Other expenses (6,081) (5,466) (13,788) (8,228) Income tax 1,596 1,261 3,342 2,494 Income (loss) from discontinued operations, net of tax 59 — 578 (2,065) Net of tax (4,426) (4,205) (9,868) (7,799) Total reclassifications $ (7,700) $ (1,850) $ (17,023) $ (1,699)

Financial Instruments and Risk

Financial Instruments and Risk Management	6 Months Ended
	Jul. 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 July 3, January 2, U.S. dollar equivalent notional amount of derivative instruments: Forward foreign exchange contracts Cash Flow and $ 355,633 $ 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 July 3, January 2, Derivatives designated as hedging instruments: Forward foreign exchange contracts Other current assets $ 1,989 $ 1 Cross-currency swap contracts Other current assets 970 918 Forward foreign exchange contracts Current assets of discontinued operations 17 40 Forward foreign exchange contracts Other noncurrent assets 732 — Cross-currency swap contracts Other noncurrent assets 1,723 — Derivatives not designated as hedging instruments: Forward foreign exchange contracts Other current assets 1,545 2,459 Forward foreign exchange contracts Current assets of discontinued operations 24 198 Total derivative assets 7,000 3,616 Derivatives designated as hedging instruments: Forward foreign exchange contracts Accrued liabilities (2,329) (12,898) Cross-currency swap contracts Accrued liabilities (223) — Forward foreign exchange contracts Current liabilities of discontinued operations (321) (4,747) Forward foreign exchange contracts Other noncurrent liabilities — (2,190) Cross-currency swap contracts Other noncurrent liabilities (9,300) (16,526) Derivatives not designated as hedging instruments: Forward foreign exchange contracts Accrued liabilities (4,151) (16,488) Forward foreign exchange contracts Current liabilities of discontinued operations (589) (2,195) Total derivative liabilities (16,913) (55,044) Net derivative liability $ (9,913) $ (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 July 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 $12,581. The Company is hedging exposure to the variability in future foreign currency-denominated cash flows for forecasted transactions over the next 15 months and for long-term debt over the next 36 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 Six Months Ended July 3, June 27, July 3, June 27, Forward foreign exchange contracts $ (1,392) $ (7,051) $ 7,094 $ 13,029 Cross-currency swap contracts 717 — 705 — Total $ (675) $ (7,051) $ 7,799 $ 13,029 Location of Gain (Loss) Amount of Gain (Loss) Reclassified from AOCI into Income Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Forward foreign exchange contracts (1) Cost of sales $ (5,278) $ 1,758 $ (9,655) $ 4,627 Forward foreign exchange contracts (1) Income (loss) from discontinued operations, net of tax (1,543) 1,399 $ (1,851) $ 3,547 Cross-currency swap contracts (1) Selling, general and administrative expenses 3,168 — $ 2,611 $ — Cross-currency swap contracts (1) Interest expense, net (1,018) — $ (1,018) $ — Total $ (4,671) $ 3,157 $ (9,913) $ 8,174 (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 Six Months Ended July 3, June 27, July 3, June 27, Total cost of sales in which the effects of cash flow hedges are recorded $ 1,069,682 $ 1,029,221 $ 1,975,030 $ 1,814,123 Total selling, general and administrative expenses in which the effects of cash flow hedges are recorded $ 464,235 $ 311,729 $ 876,794 $ 681,944 Total interest expense, net in which the effects of cash flow hedges are recorded $ 42,440 $ 41,075 $ 86,900 $ 77,102 Total income (loss) from discontinued operations, net of tax in which the effects of cash flow hedges are recorded $ (19,187) $ 24,613 $ (410,853) $ 11,621 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 July 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 $237,304 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 (Loss) Recognized in AOCI Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Euro-denominated long-term debt $ (1,544) $ (4,196) $ 17,756 $ (1,538) Cross-currency swap contracts (2,066) (1,004) 5,307 10,728 Total $ (3,610) $ (5,200) $ 23,063 $ 9,190 Location of Gain Recognized in Income Amount of Gain Recognized in Income Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Cross-currency swap contracts Interest expense, net $ 1,715 $ 2,020 $ 3,614 $ 3,967 Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Total interest expense, net in which the amounts excluded from effectiveness testing for net investment hedges are recorded $ 42,440 $ 41,075 $ 86,900 $ 77,102 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 Six Months Ended July 3, June 27, July 3, June 27, Forward foreign exchange contracts Cost of sales $ 5,629 $ (16,081) $ 18,624 $ (9,532) Forward foreign exchange contracts Selling, general and administrative expenses 880 1,962 3,091 928 Forward foreign exchange contracts Income (loss) from discontinued operations, net of tax 1,314 (3,026) 3,953 (3,451) Total $ 7,823 $ (17,145) $ 25,668 $ (12,055)

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	6 Months Ended
	Jul. 03, 2021
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities As of July 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 and six months ended July 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 and six months ended July 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 July 3, 2021 Total Quoted Prices In Significant Significant Forward foreign exchange contracts - assets $ 4,266 $ — $ 4,266 $ — Cross-currency swap contracts - assets 2,693 — 2,693 — Forward foreign exchange contracts - liabilities (6,480) — (6,480) — Cross-currency swap contracts - liabilities (9,523) — (9,523) — (9,044) — (9,044) — Deferred compensation plan liability (19,634) — (19,634) — Total $ (28,678) $ — $ (28,678) $ — 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 July 3, 2021 and January 2, 2021. The carrying amount of trade accounts receivable included allowance for doubtful accounts, chargebacks and other deductions of $60,504 and $48,745 as of July 3, 2021 and January 2, 2021, respectively. The fair value of debt, which is classified as a Level 2 liability, was $3,921,200 and $4,230,985 as of July 3, 2021 and January 2, 2021, respectively. Debt had a carrying value of $3,712,011 and $4,035,724 as of July 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	6 Months Ended
	Jul. 03, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate was 14.6% and 12.7% for the quarters ended July 3, 2021 and June 27, 2020, respectively. The Company’s effective income tax rate was 12.6% and 12.7% for the six months ended July 3, 2021 and June 27, 2020, respectively. The higher effective tax rate for the quarter ended July 3, 2021 was primarily due to the COVID-19 related change in jurisdictional mix of income experienced during the quarter ended June 27, 2020. 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 six months ended July 3, 2021, the Company’s liability for unrecognized tax benefits, including interest and penalties, decreased by $8,060, of which $6,679 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	6 Months Ended
	Jul. 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, U.S. hosiery business and certain sales from its supply chain to the European Innerwear 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. Innerwear also includes sales of personal protective equipment including products such as cloth face coverings and gowns in 2020. • 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 Six Months Ended July 3, June 27, July 3, June 27, Net sales: Innerwear $ 780,650 $ 1,094,814 $ 1,351,085 $ 1,517,216 Activewear 404,189 168,379 768,192 456,379 International 478,923 251,285 985,184 679,515 Other 87,549 28,605 154,879 93,043 Total net sales $ 1,751,311 $ 1,543,083 $ 3,259,340 $ 2,746,153 Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Segment operating profit: Innerwear $ 186,169 $ 304,524 $ 313,586 $ 386,075 Activewear 41,047 (5,751) 101,641 2,357 International 61,900 5,162 149,080 55,907 Other 9,220 (11,929) 11,106 (15,322) Total segment operating profit 298,336 292,006 575,413 429,017 Items not included in segment operating profit: General corporate expenses (54,685) (50,140) (114,508) (107,566) Restructuring and other action-related charges (18,664) (32,279) (38,057) (56,603) Amortization of intangibles (7,593) (7,454) (15,332) (14,762) Total operating profit 217,394 202,133 407,516 250,086 Other expenses (1,855) (4,653) (4,416) (10,754) Interest expense, net (42,440) (41,075) (86,900) (77,102) Income from continuing operations before income tax expense $ 173,099 $ 156,405 $ 316,200 $ 162,230 The Company incurred pre-tax restructuring and other action-related charges that were reported in the following lines in the Condensed Consolidated Statements of Income: Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Cost of sales $ 1,900 $ 18,418 $ 4,707 $ 40,229 Selling, general and administrative expenses 16,764 13,861 33,350 16,374 Total $ 18,664 $ 32,279 $ 38,057 $ 56,603

Revenue Recognition (Policies)

Revenue Recognition (Policies)	6 Months Ended
	Jul. 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)	6 Months Ended
	Jul. 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 Six Months Ended July 3, June 27, July 3, June 27, Net sales $ 117,506 $ 205,591 $ 253,351 $ 333,262 Cost of sales 63,137 86,441 138,660 158,548 Gross profit 54,369 119,150 114,691 174,714 Selling, general and administrative expenses 61,134 59,428 144,526 128,815 Impairment of intangible assets and goodwill — 20,319 155,745 20,319 Loss on classification of assets held for sale 9,828 — 236,180 — Operating income (loss) (16,593) 39,403 (421,760) 25,580 Other expenses 280 397 614 786 Interest expense, net 69 584 159 1,406 Income (loss) from discontinued operations before income tax expense (16,942) 38,422 (422,533) 23,388 Income tax expense (benefit) 2,245 13,809 (11,680) 11,767 Net income (loss) from discontinued operations, net of tax $ (19,187) $ 24,613 $ (410,853) $ 11,621 Assets and liabilities of discontinued operations classified as held for sale in the Condensed Consolidated Balance Sheets as of July 3, 2021, January 2, 2021 and June 27, 2020 consist of the following: July 3, January 2, 2021 (1) June 27, 2020 (1) Cash and cash equivalents $ 8,921 $ 8,822 $ 127,015 Trade accounts receivable, net 70,432 84,632 68,041 Inventories 119,627 123,337 184,304 Other current assets 15,114 17,295 21,987 Property, net 63,222 67,950 68,916 Right-of-use assets 34,051 34,637 40,994 Trademarks and other identifiable intangibles, net 211,534 284,170 282,362 Goodwill — 96,692 88,445 Deferred tax assets 10,376 5,438 6,947 Other noncurrent assets 4,421 5,614 5,381 Allowance to adjust assets to estimated fair value, less costs of disposal (235,712) — — Total assets of discontinued operations $ 301,986 $ 728,587 $ 894,392 Accounts payable $ 70,185 $ 77,636 $ 61,179 Accrued liabilities 111,321 133,431 115,465 Lease liabilities 8,693 10,332 13,026 Notes payable 377 784 8,790 Current portion of long-term debt — — 112,512 Lease liabilities - noncurrent 26,766 28,775 31,971 Pension and postretirement benefits 44,328 46,569 45,405 Other noncurrent liabilities 28,081 37,645 38,988 Total liabilities of discontinued operations $ 289,751 $ 335,172 $ 427,336 (1) Amounts at January 2, 2021 and June 27, 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 Six Months Ended July 3, June 27, July 3, June 27, Depreciation $ — $ 2,682 $ 2,608 $ 5,347 Amortization — 1,262 1,460 2,544 Capital expenditures 735 1,862 4,070 5,400 Impairment of intangible assets and goodwill — 20,319 155,745 20,319 Loss on classification of assets held for sale 9,828 — 236,180 — Other investing activities 1,580 615 3,374 1,831 Capital expenditures included in accounts payable at end of period 486 264 486 264 Right-of-use assets obtained in exchange for lease obligations 1,642 — 3,137 201

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jul. 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 Six Months Ended July 3, June 27, July 3, June 27, Third-party brick-and-mortar wholesale $ 1,233,531 $ 1,164,078 $ 2,258,270 $ 2,050,613 Consumer-directed 517,780 379,005 1,001,070 695,540 Total net sales $ 1,751,311 $ 1,543,083 $ 3,259,340 $ 2,746,153

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jul. 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 Six Months Ended July 3, June 27, July 3, June 27, Basic weighted average shares outstanding 350,987 350,538 350,995 354,778 Effect of potentially dilutive securities: Stock options 24 143 16 182 Restricted stock units 1,039 143 855 165 Employee stock purchase plan and other 2 5 3 8 Diluted weighted average shares outstanding 352,052 350,829 351,869 355,133
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities were excluded from the diluted earnings per share calculation because their effect would be anti-dilutive: Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Stock options 83 — 167 — Restricted stock units 45 1,599 44 1,330

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 03, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: July 3, January 2, June 27, Raw materials $ 72,436 $ 67,111 $ 80,610 Work in process 101,862 108,844 127,924 Finished goods 1,356,324 1,191,803 1,565,605 $ 1,530,622 $ 1,367,758 $ 1,774,139

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 03, 2021
Debt Disclosure [Abstract]
Debt	Debt consisted of the following: Interest Rate as of July 3, Principal Amount Maturity Date July 3, January 2, Senior Secured Credit Facility: Revolving Loan Facility — $ — $ — December 2022 Term Loan A 1.34% 618,750 625,000 December 2022 Term Loan B — — 300,000 December 2024 Australian Revolving Loan Facility — — — July 2022 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% 593,261 610,724 June 2024 Accounts Receivable Securitization Facility — — — June 2022 Total debt 3,712,011 4,035,724 Less long-term debt issuance costs 27,029 32,354 Less current maturities 37,500 263,936 Total long-term debt $ 3,647,482 $ 3,739,434

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jul. 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 April 3, 2021 $ (78,021) $ (12,822) $ (659,946) $ 173,904 $ (576,885) Amounts reclassified from accumulated other comprehensive loss — 4,671 6,022 (2,993) 7,700 Current-period other comprehensive income (loss) activity (11,231) (675) (124) 287 (11,743) Total other comprehensive income (loss) (11,231) 3,996 5,898 (2,706) (4,043) Balance at July 3, 2021 $ (89,252) $ (8,826) $ (654,048) $ 171,198 $ (580,928) 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 — 9,913 13,107 (5,997) 17,023 Current-period other comprehensive income (loss) activity (36,432) 7,799 1,575 (3,934) (30,992) Total other comprehensive income (loss) (36,432) 17,712 14,682 (9,931) (13,969) Balance at July 3, 2021 $ (89,252) $ (8,826) $ (654,048) $ 171,198 $ (580,928) (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. Cumulative Translation Adjustment (1) Cash Flow Hedges Defined Benefit Plans Income Taxes Accumulated Other Comprehensive Loss Balance at March 28, 2020 $ (274,292) $ 19,849 $ (624,494) $ 155,512 $ (723,425) Amounts reclassified from accumulated other comprehensive loss — (3,157) 5,423 (416) 1,850 Current-period other comprehensive income (loss) activity 95,033 (7,051) (69) 2,653 90,566 Total other comprehensive income (loss) 95,033 (10,208) 5,354 2,237 92,416 Balance at June 27, 2020 $ (179,259) $ 9,641 $ (619,140) $ 157,749 $ (631,009) 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 — (8,174) 10,289 (416) 1,699 Current-period other comprehensive income (loss) activity (22,121) 13,029 (69) (5,899) (15,060) Total other comprehensive income (loss) (22,121) 4,855 10,220 (6,315) (13,361) Balance at June 27, 2020 $ (179,259) $ 9,641 $ (619,140) $ 157,749 $ (631,009) (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 Six Months Ended July 3, June 27, July 3, June 27, Gain (loss) on forward foreign exchange contracts designated as cash flow hedges Cost of sales $ (5,278) $ 1,758 $ (9,655) $ 4,627 Income tax 1,444 (483) 2,652 (1,245) Income (loss) from discontinued operations, net of tax (1,278) 1,080 (1,522) 2,718 Net of tax (5,112) 2,355 (8,525) 6,100 Gain (loss) on cross-currency swap contracts designated as cash flow hedges Selling, general and administrative expenses 3,168 — 2,611 — Interest expense, net (1,018) — (1,018) — Income tax (312) — (223) — Net of tax 1,838 — 1,370 — Amortization of deferred actuarial loss and prior service cost Other expenses (6,081) (5,466) (13,788) (8,228) Income tax 1,596 1,261 3,342 2,494 Income (loss) from discontinued operations, net of tax 59 — 578 (2,065) Net of tax (4,426) (4,205) (9,868) (7,799) Total reclassifications $ (7,700) $ (1,850) $ (17,023) $ (1,699)

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	6 Months Ended
	Jul. 03, 2021
Disclosure Financial Instruments and Risk Management [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	Hedge Type July 3, January 2, U.S. dollar equivalent notional amount of derivative instruments: Forward foreign exchange contracts Cash Flow and $ 355,633 $ 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 July 3, January 2, Derivatives designated as hedging instruments: Forward foreign exchange contracts Other current assets $ 1,989 $ 1 Cross-currency swap contracts Other current assets 970 918 Forward foreign exchange contracts Current assets of discontinued operations 17 40 Forward foreign exchange contracts Other noncurrent assets 732 — Cross-currency swap contracts Other noncurrent assets 1,723 — Derivatives not designated as hedging instruments: Forward foreign exchange contracts Other current assets 1,545 2,459 Forward foreign exchange contracts Current assets of discontinued operations 24 198 Total derivative assets 7,000 3,616 Derivatives designated as hedging instruments: Forward foreign exchange contracts Accrued liabilities (2,329) (12,898) Cross-currency swap contracts Accrued liabilities (223) — Forward foreign exchange contracts Current liabilities of discontinued operations (321) (4,747) Forward foreign exchange contracts Other noncurrent liabilities — (2,190) Cross-currency swap contracts Other noncurrent liabilities (9,300) (16,526) Derivatives not designated as hedging instruments: Forward foreign exchange contracts Accrued liabilities (4,151) (16,488) Forward foreign exchange contracts Current liabilities of discontinued operations (589) (2,195) Total derivative liabilities (16,913) (55,044) Net derivative liability $ (9,913) $ (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 Six Months Ended July 3, June 27, July 3, June 27, Forward foreign exchange contracts $ (1,392) $ (7,051) $ 7,094 $ 13,029 Cross-currency swap contracts 717 — 705 — Total $ (675) $ (7,051) $ 7,799 $ 13,029 Location of Gain (Loss) Amount of Gain (Loss) Reclassified from AOCI into Income Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Forward foreign exchange contracts (1) Cost of sales $ (5,278) $ 1,758 $ (9,655) $ 4,627 Forward foreign exchange contracts (1) Income (loss) from discontinued operations, net of tax (1,543) 1,399 $ (1,851) $ 3,547 Cross-currency swap contracts (1) Selling, general and administrative expenses 3,168 — $ 2,611 $ — Cross-currency swap contracts (1) Interest expense, net (1,018) — $ (1,018) $ — Total $ (4,671) $ 3,157 $ (9,913) $ 8,174 (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 Six Months Ended July 3, June 27, July 3, June 27, Total cost of sales in which the effects of cash flow hedges are recorded $ 1,069,682 $ 1,029,221 $ 1,975,030 $ 1,814,123 Total selling, general and administrative expenses in which the effects of cash flow hedges are recorded $ 464,235 $ 311,729 $ 876,794 $ 681,944 Total interest expense, net in which the effects of cash flow hedges are recorded $ 42,440 $ 41,075 $ 86,900 $ 77,102 Total income (loss) from discontinued operations, net of tax in which the effects of cash flow hedges are recorded $ (19,187) $ 24,613 $ (410,853) $ 11,621
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 (Loss) Recognized in AOCI Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Euro-denominated long-term debt $ (1,544) $ (4,196) $ 17,756 $ (1,538) Cross-currency swap contracts (2,066) (1,004) 5,307 10,728 Total $ (3,610) $ (5,200) $ 23,063 $ 9,190 Location of Gain Recognized in Income Amount of Gain Recognized in Income Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Cross-currency swap contracts Interest expense, net $ 1,715 $ 2,020 $ 3,614 $ 3,967 Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Total interest expense, net in which the amounts excluded from effectiveness testing for net investment hedges are recorded $ 42,440 $ 41,075 $ 86,900 $ 77,102
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 Six Months Ended July 3, June 27, July 3, June 27, Forward foreign exchange contracts Cost of sales $ 5,629 $ (16,081) $ 18,624 $ (9,532) Forward foreign exchange contracts Selling, general and administrative expenses 880 1,962 3,091 928 Forward foreign exchange contracts Income (loss) from discontinued operations, net of tax 1,314 (3,026) 3,953 (3,451) Total $ 7,823 $ (17,145) $ 25,668 $ (12,055)

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	6 Months Ended
	Jul. 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 July 3, 2021 Total Quoted Prices In Significant Significant Forward foreign exchange contracts - assets $ 4,266 $ — $ 4,266 $ — Cross-currency swap contracts - assets 2,693 — 2,693 — Forward foreign exchange contracts - liabilities (6,480) — (6,480) — Cross-currency swap contracts - liabilities (9,523) — (9,523) — (9,044) — (9,044) — Deferred compensation plan liability (19,634) — (19,634) — Total $ (28,678) $ — $ (28,678) $ — 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)	6 Months Ended
	Jul. 03, 2021
Segment Reporting [Abstract]
Net Sales	Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Net sales: Innerwear $ 780,650 $ 1,094,814 $ 1,351,085 $ 1,517,216 Activewear 404,189 168,379 768,192 456,379 International 478,923 251,285 985,184 679,515 Other 87,549 28,605 154,879 93,043 Total net sales $ 1,751,311 $ 1,543,083 $ 3,259,340 $ 2,746,153
Segment Operating Profit	Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Segment operating profit: Innerwear $ 186,169 $ 304,524 $ 313,586 $ 386,075 Activewear 41,047 (5,751) 101,641 2,357 International 61,900 5,162 149,080 55,907 Other 9,220 (11,929) 11,106 (15,322) Total segment operating profit 298,336 292,006 575,413 429,017 Items not included in segment operating profit: General corporate expenses (54,685) (50,140) (114,508) (107,566) Restructuring and other action-related charges (18,664) (32,279) (38,057) (56,603) Amortization of intangibles (7,593) (7,454) (15,332) (14,762) Total operating profit 217,394 202,133 407,516 250,086 Other expenses (1,855) (4,653) (4,416) (10,754) Interest expense, net (42,440) (41,075) (86,900) (77,102) Income from continuing operations before income tax expense $ 173,099 $ 156,405 $ 316,200 $ 162,230
Restructuring and other action-related charges	The Company incurred pre-tax restructuring and other action-related charges that were reported in the following lines in the Condensed Consolidated Statements of Income: Quarters Ended Six Months Ended July 3, June 27, July 3, June 27, Cost of sales $ 1,900 $ 18,418 $ 4,707 $ 40,229 Selling, general and administrative expenses 16,764 13,861 33,350 16,374 Total $ 18,664 $ 32,279 $ 38,057 $ 56,603

Discontinued Operations - Incom

Discontinued Operations - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales	$ 117,506	$ 205,591	$ 253,351	$ 333,262
Cost of sales	63,137	86,441	138,660	158,548
Gross profit	54,369	119,150	114,691	174,714
Selling, general and administrative expenses	61,134	59,428	144,526	128,815
Impairment of intangible assets and goodwill	0	20,319	155,745	20,319
Loss on classification of assets held for sale	9,828	0	236,180	0
Operating income (loss)	(16,593)	39,403	(421,760)	25,580
Other expenses	280	397	614	786
Interest expense, net	69	584	159	1,406
Income (loss) from discontinued operations before income tax expense	(16,942)	38,422	(422,533)	23,388
Income tax expense (benefit)	2,245	13,809	(11,680)	11,767
Net income (loss) from discontinued operations, net of tax	$ (19,187)	$ 24,613	$ (410,853)	$ 11,621

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021	Jun. 27, 2020
Disposal Group, Including Discontinued Operation, Unclassified Balance Sheet Disclosures [Abstract]
Cash and cash equivalents	$ 8,921	$ 8,822	$ 127,015
Trade accounts receivable, net	70,432	84,632	68,041
Inventories	119,627	123,337	184,304
Other current assets	15,114	17,295	21,987
Property, net	63,222	67,950	68,916
Right-of-use assets	34,051	34,637	40,994
Trademarks and other identifiable intangibles, net	211,534	284,170	282,362
Goodwill	0	96,692	88,445
Deferred tax assets	10,376	5,438	6,947
Other noncurrent assets	4,421	5,614	5,381
Allowance to adjust assets to estimated fair value, less costs of disposal	(235,712)	0	0
Total assets of discontinued operations	301,986	728,587	894,392
Accounts payable	70,185	77,636	61,179
Accrued liabilities	111,321	133,431	115,465
Lease liabilities	8,693	10,332	13,026
Notes payable	377	784	8,790
Current portion of long-term debt	0	0	112,512
Lease liabilities - noncurrent	26,766	28,775	31,971
Pension and postretirement benefits	44,328	46,569	45,405
Other noncurrent liabilities	28,081	37,645	38,988
Total liabilities of discontinued operations	$ 289,751	$ 335,172	$ 427,336

Discontinued Operations - Cash

Discontinued Operations - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Net Cash Provided by (Used in) Discontinued Operations [Abstract]
Depreciation	$ 0	$ 2,682	$ 2,608	$ 5,347
Amortization	0	1,262	1,460	2,544
Capital expenditures	735	1,862	4,070	5,400
Impairment of intangible assets and goodwill	0	20,319	155,745	20,319
Loss on classification of assets held for sale	9,828	0	236,180	0
Other investing activities	1,580	615	3,374	1,831
Capital expenditures included in accounts payable at end of period	486	264	486	264
Right-of-use assets obtained in exchange for lease obligations	$ 1,642	$ 0	$ 3,137	$ 201

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Discontinued Operations and Disposal Groups [Abstract]
Impairment of intangible assets and goodwill, Discontinued Operations	$ 0	$ 20,319	$ 155,745	$ 20,319
Loss on classification of assets held for sale	$ 9,828	$ 0	236,180	$ 0
Impairment of intangible assets, Continuing Operations			$ 7,302

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Jan. 02, 2021
Disaggregation of Revenue
Net sales	$ 1,751,311	$ 1,543,083	$ 3,259,340	$ 2,746,153
Trade accounts receivable, net	960,993	1,139,130	960,993	1,139,130	$ 768,221
Third-party brick-and-mortar wholesale
Disaggregation of Revenue
Net sales	1,233,531	1,164,078	2,258,270	2,050,613
Consumer-directed
Disaggregation of Revenue
Net sales	$ 517,780	379,005	$ 1,001,070	695,540
Government contracts
Disaggregation of Revenue
Trade accounts receivable, net		484,162		484,162
Government contracts | Third-party brick-and-mortar wholesale
Disaggregation of Revenue
Net sales		$ 514,256		$ 514,256

Stockholders' Equity Reconcilia

Stockholders' Equity Reconciliation of Basic to Diluted Weighted Average Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Reconciliation of basic to diluted weighted average shares [Line Items]
Basic weighted average shares outstanding	350,987	350,538	350,995	354,778
Diluted weighted average shares outstanding	352,052	350,829	351,869	355,133
Stock options
Effect of potentially dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	24	143	16	182
Restricted stock units
Effect of potentially dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	1,039	143	855	165
Employee stock purchase plan and other
Effect of potentially dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	2	5	3	8

Stockholders' Equity (Additiona

Stockholders' Equity (Additional Information) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jul. 27, 2021	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Feb. 06, 2020	Apr. 27, 2016
Stockholders' Equity [Line Items]
Dividends, Per Share, Declared		$ 0.15	$ 0.15	$ 0.30	$ 0.30
Common stock repurchased, cost					$ 200,269
Stock options
Stockholders' Equity [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		83	0	167	0
Restricted stock units
Stockholders' Equity [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		45	1,599	44	1,330
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		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 (Details)

Inventories (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021	Jun. 27, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 72,436	$ 67,111	$ 80,610
Work in process	101,862	108,844	127,924
Finished goods	1,356,324	1,191,803	1,565,605
Total Inventories	$ 1,530,622	$ 1,367,758	$ 1,774,139

Debt (Details)

Debt (Details) € in Thousands, $ in Thousands	Jul. 03, 2021USD ($)	Jul. 03, 2021EUR (€)	Apr. 01, 2021	Jan. 02, 2021USD ($)	Jun. 27, 2020USD ($)
Debt Instrument [Line Items]
Total debt	$ 3,712,011			$ 4,035,724
Long-term Debt, Excluding Current Maturities [Abstract]
Less long-term debt issuance costs	27,029			32,354
Less current maturities	37,500			263,936
Total long-term debt	$ 3,647,482			3,739,434	$ 3,985,631
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	1.34%	1.34%
Total debt	$ 618,750			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	$ 593,261			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) $ in Thousands, $ in Thousands	6 Months Ended
	Jul. 03, 2021USD ($)	Jun. 27, 2020USD ($)	Jul. 13, 2021AUD ($)	Jul. 03, 2021AUD ($)	Jan. 02, 2021USD ($)
Debt Instrument [Line Items]
Repayments on Term Loan Facilities	$ 306,250	$ 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	88,833
Maximum Borrowing Capacity	175,000				$ 225,000
Current Borrowing Capacity	150,000
Australian Revolving Loan Facility
Debt Instrument [Line Items]
Remaining borrowing capacity	44,994
Australian Revolving Loan Facility | Bilateral Cash Advance Limit
Debt Instrument [Line Items]
Maximum Borrowing Capacity				$ 50,000
Australian Revolving Loan Facility | Bank Overdraft Limit
Debt Instrument [Line Items]
Maximum Borrowing Capacity				$ 10,000
Australian Revolving Loan Facility | Subsequent Event [Member] | Bilateral Cash Advance Limit
Debt Instrument [Line Items]
Maximum Borrowing Capacity			$ 46,000
Australian Revolving Loan Facility | Subsequent Event [Member] | Bank Overdraft Limit
Debt Instrument [Line Items]
Maximum Borrowing Capacity			$ 14,000
Other International Debt
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 33,610

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance, net of tax			$ (566,959)
Total other comprehensive income (loss)	$ (4,043)	$ 92,416	(13,969)	$ (13,361)
Ending Balance, net of tax	(580,928)	(631,009)	(580,928)	(631,009)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Beginning Balance, before tax	(78,021)	(274,292)	(52,820)	(157,138)
Amounts reclassified from accumulated other comprehensive loss, before tax	0	0	0	0
Current-period other comprehensive income (loss) activity, before tax	(11,231)	95,033	(36,432)	(22,121)
Total other comprehensive income (loss), before tax	(11,231)	95,033	(36,432)	(22,121)
Ending Balance, before tax	(89,252)	(179,259)	(89,252)	(179,259)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Beginning Balance, before tax	(12,822)	19,849	(26,538)	4,786
Amounts reclassified from accumulated other comprehensive loss, before tax	4,671	(3,157)	9,913	(8,174)
Current-period other comprehensive income (loss) activity, before tax	(675)	(7,051)	7,799	13,029
Total other comprehensive income (loss), before tax	3,996	(10,208)	17,712	4,855
Ending Balance, before tax	(8,826)	9,641	(8,826)	9,641
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Beginning Balance, before tax	(659,946)	(624,494)	(668,730)	(629,360)
Amounts reclassified from accumulated other comprehensive loss, before tax	6,022	5,423	13,107	10,289
Current-period other comprehensive income (loss) activity, before tax	(124)	(69)	1,575	(69)
Total other comprehensive income (loss), before tax	5,898	5,354	14,682	10,220
Ending Balance, before tax	(654,048)	(619,140)	(654,048)	(619,140)
Income Taxes
Accumulated Other Comprehensive Income (Loss), Tax [Roll Forward]
Beginning Balance, tax	173,904	155,512	181,129	164,064
Amounts reclassified from accumulated other comprehensive loss, tax	(2,993)	(416)	(5,997)	(416)
Current-period other comprehensive income (loss) activity, tax	287	2,653	(3,934)	(5,899)
Total other comprehensive income (loss), tax	(2,706)	2,237	(9,931)	(6,315)
Ending Balance, tax	171,198	157,749	171,198	157,749
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance, net of tax	(576,885)	(723,425)	(566,959)	(617,648)
Amounts reclassified from accumulated other comprehensive loss, net of tax	7,700	1,850	17,023	1,699
Current-period other comprehensive income (loss) activity, net of tax	(11,743)	90,566	(30,992)	(15,060)
Total other comprehensive income (loss)	(4,043)	92,416	(13,969)	(13,361)
Ending Balance, net of tax	$ (580,928)	$ (631,009)	$ (580,928)	$ (631,009)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ (1,069,682)	$ (1,029,221)	$ (1,975,030)	$ (1,814,123)
Selling, general and administrative expenses	(464,235)	(311,729)	(876,794)	(681,944)
Interest expense, net	(42,440)	(41,075)	(86,900)	(77,102)
Other expenses	1,855	4,653	4,416	10,754
Income Tax	(25,236)	(19,837)	(39,933)	(20,544)
Income (loss) from discontinued operations, net of tax	19,187	(24,613)	410,853	(11,621)
Net income (loss)	(128,676)	(161,181)	134,586	(153,307)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	(7,700)	(1,850)	(17,023)	(1,699)
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	(6,081)	(5,466)	(13,788)	(8,228)
Income Tax	1,596	1,261	3,342	2,494
Income (loss) from discontinued operations, net of tax	59	0	578	(2,065)
Net income (loss)	(4,426)	(4,205)	(9,868)	(7,799)
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	(5,278)	1,758	(9,655)	4,627
Income Tax	1,444	(483)	2,652	(1,245)
Income (loss) from discontinued operations, net of tax	(1,278)	1,080	(1,522)	2,718
Net income (loss)	(5,112)	2,355	(8,525)	6,100
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	3,168	0	2,611	0
Interest expense, net	(1,018)	0	(1,018)	0
Income Tax	(312)	0	(223)	0
Net income (loss)	$ 1,838	$ 0	$ 1,370	$ 0

Financial Instruments and Ris_3

Financial Instruments and Risk Management (Additional Information) (Details) € in Thousands, $ in Thousands	Jul. 03, 2021USD ($)	Apr. 01, 2021EUR (€)numberOfCrossCurrencySwaps	Jan. 02, 2021USD ($)	Jul. 10, 2019EUR (€)numberOfCrossCurrencySwaps	Jul. 03, 2021USD ($)	Jul. 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	$ 237,304	€ 200,000	$ 610,724	€ 500,000
Long-term Debt				€ 500,000
Foreign exchange contract
Derivative [Line Items]
Net gain (loss) expected to be reclassified into earnings during the next twelve months | $					$ (12,581)
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					36 months
Forward foreign exchange contract
Derivative [Line Items]
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge					15 months

Financial Instruments and Ris_4

Financial Instruments and Risk Management Notional Amounts of Derivative Instruments (Details) € in Thousands, $ in Thousands	Jul. 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	$ 355,633		$ 617,912

Financial Instruments and Ris_5

Financial Instruments and Risk Management Fair Values of Derivative Instruments (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021
Derivatives, Fair Value [Line Items]
Net fair value of derivative assets and liabilities	$ (9,913)	$ (51,428)
Assets, Total
Derivatives, Fair Value [Line Items]
Total derivative assets	7,000	3,616
Liabilities, Total
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(16,913)	(55,044)
Cross-currency swap contract | Other Current Assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	970	918
Cross-currency swap contract | Other noncurrent assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	1,723	0
Cross-currency swap contract | Accrued liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(223)	0
Cross-currency swap contract | Other Noncurrent Liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(9,300)	(16,526)
Forward foreign exchange contract | Other Current Assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	1,989	1
Forward foreign exchange contract | Other Current Assets | Non-hedges
Derivatives, Fair Value [Line Items]
Total derivative assets	1,545	2,459
Forward foreign exchange contract | Current Assets of Discontinued Operations | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	17	40
Forward foreign exchange contract | Current Assets of Discontinued Operations | Non-hedges
Derivatives, Fair Value [Line Items]
Total derivative assets	24	198
Forward foreign exchange contract | Other noncurrent assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative assets	732	0
Forward foreign exchange contract | Accrued liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(2,329)	(12,898)
Forward foreign exchange contract | Accrued liabilities | Non-hedges
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(4,151)	(16,488)
Forward foreign exchange contract | Current Liabilities of Discontinued Operations | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(321)	(4,747)
Forward foreign exchange contract | Current Liabilities of Discontinued Operations | Non-hedges
Derivatives, Fair Value [Line Items]
Total derivative liabilities	(589)	(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 (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ (675)	$ (7,051)	$ 7,799	$ 13,029
Amount of Gain (Loss) Reclassified from AOCI into Income	(4,671)	3,157	(9,913)	8,174
Total cost of sales in which the effects of cash flow hedges are recorded	1,069,682	1,029,221	1,975,030	1,814,123
Total selling, general and administrative expenses in which the effects of cash flow hedges are recorded	464,235	311,729	876,794	681,944
Total interest expense, net in which the effects of cash flow hedges are recorded	42,440	41,075	86,900	77,102
Total income (loss) from discontinued operations, net of tax in which the effects of cash flow hedges are recorded	(19,187)	24,613	(410,853)	11,621
Cross-currency swap contract
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	717	0	705	0
Cross-currency swap contract | Selling, general and administrative expenses
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Income	3,168	0	2,611	0
Cross-currency swap contract | Interest expense, net
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Income	(1,018)	0	(1,018)	0
Forward foreign exchange contract
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	(1,392)	(7,051)	7,094	13,029
Forward foreign exchange contract | Cost of Sales
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Income	(5,278)	1,758	(9,655)	4,627
Forward foreign exchange contract | Income (loss) from discontinued operations, net of tax
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Income	$ (1,543)	$ 1,399	$ (1,851)	$ 3,547

Financial Instruments and Ris_7

Financial Instruments and Risk Management Effect of Net Investment Hedge Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Derivatives, Fair Value [Line Items]
Interest expense, net	$ 42,440	$ 41,075	$ 86,900	$ 77,102
Cross-currency swap contract | Interest expense, net
Derivatives, Fair Value [Line Items]
Amounts of Gain (Loss) Recognized in Income	1,715	2,020	3,614	3,967
Accumulated Other Comprehensive Loss
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Net Investment Hedges	(3,610)	(5,200)	23,063	9,190
Accumulated Other Comprehensive Loss | Euro-denominated Long-term Debt
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	(1,544)	(4,196)	17,756	(1,538)
Accumulated Other Comprehensive Loss | Cross-currency swap contract
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ (2,066)	$ (1,004)	$ 5,307	$ 10,728

Financial Instruments and Ris_8

Financial Instruments and Risk Management Effect of Mark to Market Hedge Derivative Instruments (Details) - Forward foreign exchange contract - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ 7,823	$ (17,145)	$ 25,668	$ (12,055)
Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	5,629	(16,081)	18,624	(9,532)
Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	880	1,962	3,091	928
Income (loss) from discontinued operations, net of tax
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ 1,314	$ (3,026)	$ 3,953	$ (3,451)

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities (Additional Information) (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Jan. 02, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of debt	$ 3,712,011	$ 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	60,504	48,745
Carrying value of debt	3,712,011	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	$ 3,921,200	$ 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) (Details) - USD ($) $ in Thousands	Jul. 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	$ (9,913)	$ (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	(9,044)	(44,724)
Deferred compensation plan liability	(19,634)	(21,878)
Net effect of financial asset less financial liability	(28,678)	(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	(9,044)	(44,724)
Deferred compensation plan liability	(19,634)	(21,878)
Net effect of financial asset less financial liability	(28,678)	(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	2,693	918
Total derivative liabilities	(9,523)	(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	2,693	918
Total derivative liabilities	(9,523)	(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	4,266	2,460
Total derivative liabilities	(6,480)	(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	4,266	2,460
Total derivative liabilities	(6,480)	(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		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Effective income tax rate, percent	14.60%	12.70%	12.60%	12.70%
Unrecognized Tax Benefits, Period Increase (Decrease)	$ (8,060)
Unrecognized Tax Benefit Period Decrease That Impacted Effective Tax Rate	$ (6,679)

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021USD ($)	Jun. 27, 2020USD ($)	Jul. 03, 2021USD ($)numberOfSegments	Jun. 27, 2020USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | numberOfSegments			3
Net sales:
Net sales	$ 1,751,311	$ 1,543,083	$ 3,259,340	$ 2,746,153
Segment operating profit:
Total operating profit	217,394	202,133	407,516	250,086
Operating profit
General corporate expenses	(54,685)	(50,140)	(114,508)	(107,566)
Restructuring and other action-related charges	(18,664)	(32,279)	(38,057)	(56,603)
Amortization of intangibles	(7,593)	(7,454)	(15,332)	(14,762)
Other expenses	(1,855)	(4,653)	(4,416)	(10,754)
Interest expense, net	(42,440)	(41,075)	(86,900)	(77,102)
Income from continuing operations before income tax expense	173,099	156,405	316,200	162,230
Innerwear
Net sales:
Net sales	780,650	1,094,814	1,351,085	1,517,216
Segment operating profit:
Total operating profit	186,169	304,524	313,586	386,075
Activewear
Net sales:
Net sales	404,189	168,379	768,192	456,379
Segment operating profit:
Total operating profit	41,047	(5,751)	101,641	2,357
International
Net sales:
Net sales	478,923	251,285	985,184	679,515
Segment operating profit:
Total operating profit	61,900	5,162	149,080	55,907
Other
Net sales:
Net sales	87,549	28,605	154,879	93,043
Segment operating profit:
Total operating profit	9,220	(11,929)	11,106	(15,322)
Total segment operating profit
Segment operating profit:
Total operating profit	298,336	292,006	575,413	429,017
Total
Operating profit
Restructuring and other action-related charges	(18,664)	(32,279)	(38,057)	(56,603)
Cost of Sales
Operating profit
Restructuring and other action-related charges	(1,900)	(18,418)	(4,707)	(40,229)
Selling, general and administrative expenses
Operating profit
Restructuring and other action-related charges	$ (16,764)	$ (13,861)	$ (33,350)	$ (16,374)