Kontoor Brands (KTB) 10-Q 8 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 02, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 2, 2021
Entity Transition Report	false
Entity File Number	001-38854
Entity Registrant Name	KONTOOR BRANDS, INC.
Entity Incorporation, State or Country Code	NC
Entity Tax Identification Number	83-2680248
Entity Address, Address Line One	400 N. Elm Street
Entity Address, City or Town	Greensboro
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27401
City Area Code	336
Local Phone Number	332-3400
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	KTB
Security Exchange Name	NYSE
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
Entity Common Stock, Shares Outstanding		57,317,473
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001760965
Current Fiscal Year End Date	--01-01

Combined Balance Sheets (Unaudi

Combined Balance Sheets (Unaudited) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Current assets
Cash and equivalents	$ 215,442	$ 248,138	$ 285,251
Accounts receivable, net	269,874	231,397	221,971
Inventories	409,110	340,732	432,280
Prepaid expenses and other current assets	93,922	81,413	81,781
Total current assets	988,348	901,680	1,021,283
Property, plant and equipment, net	106,959	118,897	122,739
Operating lease assets	56,555	60,443	71,075
Intangible assets, net	14,975	15,991	16,458
Goodwill	212,503	213,392	212,637
Other assets	233,842	235,413	224,532
TOTAL ASSETS	1,613,182	1,545,816	1,668,724
Current liabilities
Short-term borrowings	254	1,114	148
Current portion of long-term debt	18,125	25,000	15,625
Accounts payable	244,681	167,240	207,564
Accrued liabilities	218,058	192,952	206,521
Operating lease liabilities, current	23,480	27,329	33,065
Total current liabilities	504,598	413,635	462,923
Operating lease liabilities, noncurrent	36,329	39,806	43,023
Other liabilities	114,088	119,777	115,040
Long-term debt	773,413	887,957	1,021,710
Commitments and contingencies
Total liabilities	1,428,428	1,461,175	1,642,696
Equity
Preferred Stock, no par value; shares authorized, 90,000,000; no shares outstanding at September 2021, December 2020 and September 2020	0	0	0
Common Stock, no par value; shares authorized, 600,000,000; shares outstanding of 57,550,958 at September 2021; 57,254,611 at December 2020 and 57,070,368 at September 2020	0	0	0
Additional paid-in capital	207,963	172,297	161,297
Retained earnings (accumulated deficit)	70,926	7,151	(12,472)
Accumulated other comprehensive loss	(94,135)	(94,807)	(122,797)
Total equity	184,754	84,641	26,028
TOTAL LIABILITIES AND EQUITY	$ 1,613,182	$ 1,545,816	$ 1,668,724

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Statement of Financial Position [Abstract]
Preferred stock, no par value (in USD per share)	$ 0	$ 0	$ 0
Preferred stock, shares authorized (in shares)	90,000,000	90,000,000	90,000,000
Preferred stock, shares outstanding (in shares)	0	0	0
Common stock, no par value (in USD per share)	$ 0	$ 0	$ 0
Common stock, shares authorized (in shares)	600,000,000	600,000,000	600,000,000
Common stock, shares outstanding (in shares)	57,550,958	57,254,611	57,070,368

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Income Statement [Abstract]
Net revenues	$ 652,298	$ 583,222	$ 1,794,825	$ 1,436,974
Costs and operating expenses
Cost of goods sold	362,735	325,512	978,558	854,134
Selling, general and administrative expenses	203,583	174,846	601,934	521,935
Total costs and operating expenses	566,318	500,358	1,580,492	1,376,069
Operating income	85,980	82,864	214,333	60,905
Interest expense	(7,156)	(13,249)	(26,588)	(37,308)
Interest income	345	283	1,024	1,255
Other expense, net	(676)	(751)	(1,073)	(1,710)
Income before income taxes	78,493	69,147	187,696	23,142
Income taxes	15,080	8,362	36,183	(1,669)
Net income	$ 63,413	$ 60,785	$ 151,513	$ 24,811
Earnings per common share
Basic (in USD per share)	$ 1.10	$ 1.07	$ 2.63	$ 0.44
Diluted (in USD per share)	$ 1.07	$ 1.05	$ 2.56	$ 0.43
Weighted average shares outstanding
Basic (in shares)	57,648	57,007	57,535	56,938
Diluted (in shares)	59,282	57,642	59,180	57,669

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 63,413	$ 60,785	$ 151,513	$ 24,811
Other comprehensive (loss) income
Net change in foreign currency translation	(6,572)	7,072	(9,586)	(16,939)
Net change in defined benefit pension plans	4	(67)	67	(55)
Net change in derivative financial instruments	1,402	1,496	10,191	(26,105)
Total other comprehensive (loss) income, net of related taxes	(5,166)	8,501	672	(43,099)
Comprehensive income (loss)	$ 58,247	$ 69,286	$ 152,185	$ (18,288)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020
OPERATING ACTIVITIES
Net income	$ 151,513	$ 24,811
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	26,675	24,384
Stock-based compensation	29,211	9,738
Provision for doubtful accounts	(130)	19,642
Other	7,601	(17,337)
Changes in operating assets and liabilities:
Accounts receivable	(41,369)	(16,250)
Inventories	(70,648)	23,777
Accounts payable	78,381	58,534
Income taxes	9,506	4,406
Accrued liabilities	28,864	3,330
Other assets and liabilities	(10,252)	(5,352)
Cash provided by operating activities	209,352	129,683
INVESTING ACTIVITIES
Property, plant and equipment expenditures	(6,642)	(16,481)
Capitalized computer software	(23,536)	(30,038)
Proceeds from sales of assets	95	13,068
Other	(1,873)	(3,651)
Cash used by investing activities	(31,956)	(37,102)
FINANCING ACTIVITIES
Borrowings under revolving credit facility	0	512,500
Repayments under revolving credit facility	0	(387,500)
Payment of deferred financing costs	0	(4,346)
Repayments of term loans	(125,000)	0
Repurchases of Common Stock	(10,006)	0
Dividends paid	(69,068)	(31,877)
Proceeds from issuance of Common Stock, net of shares withheld for taxes	(2,209)	(2,800)
Other	(562)	(885)
Cash (used) provided by financing activities	(206,845)	85,092
Effect of foreign currency rate changes on cash and cash equivalents	(3,247)	770
Net change in cash and cash equivalents	(32,696)	178,443
Cash and cash equivalents – beginning of period	248,138	106,808
Cash and cash equivalents – end of period	$ 215,442	$ 285,251

Consolidated Statements of Equi

Consolidated Statements of Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss
Balance, beginning (in shares) at Dec. 28, 2019		56,812,000
Balance, beginning at Dec. 28, 2019	$ 69,257	$ 0	$ 150,673	$ (1,718)	$ (79,698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,712)			(2,712)
Stock-based compensation, net (in shares)		119,000
Stock-based compensation, net	611		3,293	(2,682)
Other comprehensive income (loss)	(53,764)				(53,764)
Dividends on Common Stock	(31,877)			(31,877)
Balance, ending (in shares) at Mar. 28, 2020		56,931,000
Balance, ending at Mar. 28, 2020	(18,485)	$ 0	153,966	(38,989)	(133,462)
Balance, beginning (in shares) at Dec. 28, 2019		56,812,000
Balance, beginning at Dec. 28, 2019	69,257	$ 0	150,673	(1,718)	(79,698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	24,811
Other comprehensive income (loss)	$ (43,099)
Balance, ending (in shares) at Sep. 26, 2020	57,070,368	57,070,000
Balance, ending at Sep. 26, 2020	$ 26,028	$ 0	161,297	(12,472)	(122,797)
Balance, beginning (in shares) at Mar. 28, 2020		56,931,000
Balance, beginning at Mar. 28, 2020	(18,485)	$ 0	153,966	(38,989)	(133,462)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(33,262)			(33,262)
Stock-based compensation, net	4,694		4,694
Other comprehensive income (loss)	2,164				2,164
Balance, ending (in shares) at Jun. 27, 2020		56,931,000
Balance, ending at Jun. 27, 2020	(44,889)	$ 0	158,660	(72,251)	(131,298)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	60,785			60,785
Stock-based compensation, net (in shares)		139,000
Stock-based compensation, net	1,631		2,637	(1,006)
Other comprehensive income (loss)	$ 8,501				8,501
Balance, ending (in shares) at Sep. 26, 2020	57,070,368	57,070,000
Balance, ending at Sep. 26, 2020	$ 26,028	$ 0	161,297	(12,472)	(122,797)
Balance, beginning (in shares) at Jan. 02, 2021	57,254,611	57,255,000
Balance, beginning at Jan. 02, 2021	$ 84,641	$ 0	172,297	7,151	(94,807)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	64,463			64,463
Stock-based compensation, net (in shares)		259,000
Stock-based compensation, net	10,014		14,472	(4,458)
Other comprehensive income (loss)	(1,890)				(1,890)
Dividends on Common Stock	(22,964)			(22,964)
Balance, ending (in shares) at Apr. 03, 2021		57,514,000
Balance, ending at Apr. 03, 2021	$ 134,264	$ 0	186,769	44,192	(96,697)
Balance, beginning (in shares) at Jan. 02, 2021	57,254,611	57,255,000
Balance, beginning at Jan. 02, 2021	$ 84,641	$ 0	172,297	7,151	(94,807)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	151,513
Other comprehensive income (loss)	$ 672
Balance, ending (in shares) at Oct. 02, 2021	57,550,958	57,551,000
Balance, ending at Oct. 02, 2021	$ 184,754	$ 0	207,963	70,926	(94,135)
Balance, beginning (in shares) at Apr. 03, 2021		57,514,000
Balance, beginning at Apr. 03, 2021	134,264	$ 0	186,769	44,192	(96,697)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	23,637			23,637
Stock-based compensation, net (in shares)		118,000
Stock-based compensation, net	11,309		12,007	(698)
Other comprehensive income (loss)	7,728				7,728
Dividends on Common Stock	(23,052)			(23,052)
Balance, ending (in shares) at Jul. 03, 2021		57,632,000
Balance, ending at Jul. 03, 2021	153,886	$ 0	198,776	44,079	(88,969)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	63,413			63,413
Stock-based compensation, net (in shares)		104,000
Stock-based compensation, net	5,679		9,187	(3,508)
Other comprehensive income (loss)	(5,166)				(5,166)
Dividends on Common Stock	(23,052)			(23,052)
Repurchase of Common Stock (in shares)		(184,973)
Repurchases of Common Stock	$ (10,006)	$ (10,000)		(10,006)
Balance, ending (in shares) at Oct. 02, 2021	57,550,958	57,551,000
Balance, ending at Oct. 02, 2021	$ 184,754	$ 0	$ 207,963	$ 70,926	$ (94,135)

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Deficit) (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Oct. 02, 2021	Jul. 03, 2021	Apr. 03, 2021	Mar. 28, 2020
Statement of Stockholders' Equity [Abstract]
Dividends on Common Stock (in USD per share)	$ 0.40	$ 0.40	$ 0.40	$ 0.56

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Oct. 02, 2021
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Description of Business Kontoor Brands, Inc. ("Kontoor," the "Company," "we," "us" or "our") is a global lifestyle apparel company headquartered in the United States ("U.S."). We completed a spin-off transaction from VF Corporation ("VF" or "former parent") on May 22, 2019 (the "Separation") and began to trade as a standalone public company (NYSE: KTB) on May 23, 2019. The Company designs, produces, procures, markets and distributes apparel primarily under the brand names Wrangler ® and Lee ® . The Company's products are sold in the U.S. through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores and online. The Company's products are also sold internationally, primarily in Europe and Asia, through department, specialty, company-operated, concession retail and independently-operated partnership stores and online. Fiscal Year The Company operates and reports using a 52/53 week fiscal year ending on the Saturday closest to December 31 of each year. Accordingly, this Form 10-Q presents the third quarter of the Company's fiscal year ending January 1, 2022 ("fiscal 2021"), which is a 52-week fiscal year. For presentation purposes herein, all references to periods ended September 2021, December 2020 and September 2020 correspond to the fiscal periods ended October 2, 2021, January 2, 2021 and September 26, 2020, respectively. Impact of COVID-19 and Other Recent Developments The novel coronavirus (“COVID-19”) pandemic continues to impact global economic conditions, as well as the Company's operations. The Company considered the impact of COVID-19 on the assumptions and estimates used when preparing these quarterly financial statements including, but not limited to, our allowance for doubtful accounts, inventory valuations, liabilities for variable consideration, deferred tax valuation allowances, fair value measurements including asset impairment evaluations, the effectiveness of the Company’s hedging instruments, and expected compliance with all applicable financial covenants in our Credit Agreement (as defined in Note 6 to the Company's financial statements). These assumptions and estimates may change as new events occur and additional information is obtained regarding the impact of COVID-19. Such future changes may have an adverse impact on the Company's results of operations, financial position and liquidity. Basis of Presentation - Interim Financial Statements The accompanying unaudited interim financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and notes required by generally accepted accounting principles in the U.S. ("GAAP") for complete financial statements. In the opinion of management, the accompanying financial statements contain all normal and recurring adjustments necessary to fairly state the financial position, results of operations and cash flows of the Company for the interim periods presented. Operating results for the three and nine months ended September 2021 are not necessarily indicative of results that may be expected for any other interim period or for fiscal 2021. The unaudited financial statements should be read in conjunction with the audited consolidated and combined financial statements included in the Company's 2020 Annual Report on Form 10-K for the fiscal year ended January 2, 2021, as filed with the Securities and Exchange Commission ("SEC") on March 3, 2021 ("2020 Annual Report on Form 10-K"). Recently Adopted Accounting Standard In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, " Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ," which amends and simplifies the accounting for income taxes by removing certain exceptions and providing new guidance to reduce complexity in certain aspects of the current guidance. This guidance was adopted by the Company during the first quarter of 2021 and did not impact the Company’s financial statements or related disclosures. Recently Issued Accounting Standard In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting ,” which is intended to provide temporary optional expedients and exceptions for applying GAAP to contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance was effective upon issuance and the Company may adopt the guidance and apply it prospectively to contract modifications made or relationships entered into or evaluated any time from the issuance date through December 31, 2022. The Company will continue to evaluate the impact that adoption of this guidance would have on its financial statements and related disclosures, which is not expected to be significant.

REVENUES

REVENUES	9 Months Ended
	Oct. 02, 2021
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Performance Obligations As of September 2021, there were no arrangements with any transaction price allocated to remaining performance obligations other than (i) contracts for which the Company has applied the practical expedients and (ii) fixed consideration related to future minimum guarantees. For the three and nine months ended September 2021, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not significant. Contract Balances The following table presents information about contract balances recorded in the Company's balance sheets: (In thousands) September 2021 December 2020 September 2020 Accounts receivable, net $ 269,874 $ 231,397 $ 221,971 Contract assets (a) 3,702 5,769 4,385 Contract liabilities (b) 2,118 787 1,229 (a) Included within "prepaid expenses and other current assets" in the Company's balance sheets. (b) Included within "accrued liabilities" in the Company's balance sheets. For the three and nine months ended September 2021, revenue recognized that was included in contract liabilities as of December 2020 was not significant. For the three and nine months ended September 2020, revenue of $0.2 million and $1.4 million, respectively, was recognized that was included in contract liabilities as of December 2019. As of September 2021, the Company has contractual rights under its licensing agreements to receive $26.4 million of fixed consideration related to the future minimum guarantees through December 2026. The variable consideration is not disclosed as a remaining performance obligation as the licensing arrangements qualify for the sales-based royalty exemption. Disaggregation of Revenue The following tables present revenues disaggregated by channel and geography. Revenues from licensing arrangements have been included within the U.S. or Non-U.S. Wholesale channels, based on the respective region where the licensee sells the product. Direct-to-Consumer revenues include the distribution of our products via Wrangler ® and Lee ® branded full-price stores and Company-operated outlet stores globally, digital sales at www.wrangler.com and www.lee.com globally and concession retail locations internationally. The Other channel primarily included sales of third-party branded merchandise at VF Outlet stores through the first quarter of 2021. During 2020, the Company decided to discontinue the sale of third-party branded merchandise in all VF Outlet stores, exit certain VF Outlet stores and convert all remaining locations to Lee Wrangler Outlet TM and Lee Wrangler Clearance Center TM retail stores. Sales of Wrangler ® and Lee ® branded products in our retail stores are not included in Other and are reported in the Direct-to-Consumer channel discussed above. Three Months Ended September 2021 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 344,277 $ 105,779 $ 2,226 $ 452,282 Non-U.S. Wholesale 48,558 86,494 446 135,498 Direct-to-Consumer 28,673 35,700 6 64,379 Other — — 139 139 Total $ 421,508 $ 227,973 $ 2,817 $ 652,298 Geographic revenues U.S. $ 368,507 $ 121,951 $ 2,371 $ 492,829 International 53,001 106,022 446 159,469 Total $ 421,508 $ 227,973 $ 2,817 $ 652,298 Three Months Ended September 2020 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 285,639 $ 105,757 $ 2,259 $ 393,655 Non-U.S. Wholesale 35,724 70,555 1,124 107,403 Direct-to-Consumer 25,266 38,128 8 63,402 Other — — 18,762 18,762 Total $ 346,629 $ 214,440 $ 22,153 $ 583,222 Geographic revenues U.S. $ 307,512 $ 126,912 $ 21,029 $ 455,453 International 39,117 87,528 1,124 127,769 Total $ 346,629 $ 214,440 $ 22,153 $ 583,222 Nine Months Ended September 2021 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 919,176 $ 309,673 $ 6,386 $ 1,235,235 Non-U.S. Wholesale 137,206 232,984 1,888 372,078 Direct-to-Consumer 75,249 111,478 19 186,746 Other — — 766 766 Total $ 1,131,631 $ 654,135 $ 9,059 $ 1,794,825 Geographic revenues U.S. $ 982,532 $ 356,362 $ 7,171 $ 1,346,065 International 149,099 297,773 1,888 448,760 Total $ 1,131,631 $ 654,135 $ 9,059 $ 1,794,825 Nine Months Ended September 2020 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 739,104 $ 231,529 $ 8,823 $ 979,456 Non-U.S. Wholesale 99,912 157,413 1,428 258,753 Direct-to-Consumer 62,654 94,220 11 156,885 Other — — 41,880 41,880 Total $ 901,670 $ 483,162 $ 52,142 $ 1,436,974 Geographic revenues U.S. $ 792,662 $ 278,999 $ 50,714 $ 1,122,375 International 109,008 204,163 1,428 314,599 Total $ 901,670 $ 483,162 $ 52,142 $ 1,436,974

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
	Oct. 02, 2021
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company has two reportable segments: • Wrangler — Wrangler ® branded denim, apparel and accessories. • Lee — Lee ® branded denim, apparel and accessories. The chief operating decision maker allocates resources and assesses performance based on a global brand view which determines the Company's operating segments. Operating segments are the basis for the Company's reportable segments. In addition, we report an "Other" category in order to reconcile segment revenues and segment profit to the Company's operating results, but the Other category is not considered a reportable segment based on evaluation of aggregation criteria. Other primarily includes other revenue sources, including sales and licensing of Rock & Republic ® apparel. Other also included sales of third-party branded merchandise at VF Outlet stores through the first quarter of 2021. During 2020, the Company decided to discontinue the sale of third-party branded merchandise in all VF Outlet stores, exit certain VF Outlet stores and convert all remaining locations to Lee Wrangler Outlet TM and Lee Wrangler Clearance Center TM retail stores. Sales of Wrangler ® and Lee ® branded products in our retail stores are not included in Other and are reported in the respective segments discussed above. Accounting policies utilized for internal management reporting at the individual segments are consistent with those in Note 1 to the Company's financial statements included in the Company's 2020 Annual Report on Form 10-K, except as noted below. The Company has allocated costs for certain centralized functions and programs to the Wrangler and Lee segments based on appropriate metrics such as usage or production of net revenues. These centralized functions and programs include, but are not limited to, information technology, human resources, supply chain, insurance and related benefit costs associated with those functions. Corporate and other expenses and interest income and expense are not controlled by segment management and therefore are excluded from the measurement of segment profit. The following table presents financial information for the Company's reportable segments and income before income taxes: Three Months Ended September Nine Months Ended September (In thousands) 2021 2020 2021 2020 Segment revenues: Wrangler $ 421,508 $ 346,629 $ 1,131,631 $ 901,670 Lee 227,973 214,440 654,135 483,162 Total reportable segment revenues 649,481 561,069 1,785,766 1,384,832 Other revenues 2,817 22,153 9,059 52,142 Total net revenues $ 652,298 $ 583,222 $ 1,794,825 $ 1,436,974 Segment profit: Wrangler $ 77,184 $ 76,908 $ 214,001 $ 139,709 Lee 42,969 40,968 112,583 23,524 Total reportable segment profit $ 120,153 $ 117,876 $ 326,584 $ 163,233 Corporate and other expenses (35,051) (31,347) (113,585) (90,917) Interest expense (7,156) (13,249) (26,588) (37,308) Interest income 345 283 1,024 1,255 Profit (loss) related to other revenues 202 (4,416) 261 (13,121) Income before income taxes $ 78,493 $ 69,147 $ 187,696 $ 23,142

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	9 Months Ended
	Oct. 02, 2021
Receivables [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE Allowance for Doubtful Accounts The Company reviews the estimates used to calculate the allowance for doubtful accounts on a quarterly basis. The following table presents a rollforward of the allowance for doubtful accounts: Nine Months Ended September (In thousands) 2021 2020 Balance, December $ 19,143 $ 11,852 Provision for expected credit losses (130) 19,642 Accounts receivable balances written off (1) (6,526) (8,801) Other (2) (633) 65 Balance, September $ 11,854 $ 22,758 (1) Accounts receivable balances written off against the allowance were primarily due to the bankruptcy of a major U.S. retail customer during the second quarter of 2020, write-offs related to our India business during 2021 as well as the impact of COVID-19 during the 2021 and 2020 periods. (2) Other primarily includes the impact of foreign currency translation and recoveries of amounts previously written off, none of which were individually significant. Sale of Trade Accounts Receivable On April 1, 2019, the Company entered into an agreement with a financial institution to sell selected trade accounts receivable on a nonrecourse basis. Under this agreement, up to $377.5 million of the Company’s trade accounts receivable may be sold to the financial institution and remain outstanding at any point in time. The Company removes the sold balances from "accounts receivable, net" in its balance sheet at the time of sale. The Company does not retain any interests in the sold trade accounts receivable but continues to service and collect outstanding trade accounts receivable on behalf of the financial institution. During the nine months ended September 2021 and September 2020, the Company sold total trade accounts receivable of $943.2 million and $700.9 million, respectively. As of September 2021, December 2020 and September 2020, $197.7 million, $127.1 million and $195.0 million, respectively, of the sold trade accounts receivable had been removed from the Company's balance sheets but remained outstanding with the financial institution.

INVENTORIES

INVENTORIES	9 Months Ended
	Oct. 02, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The following table presents components of inventories recorded in the Company's balance sheets: (In thousands) September 2021 December 2020 September 2020 Finished products $ 342,008 $ 277,164 $ 368,976 Work-in-process 29,596 29,921 26,541 Raw materials 37,506 33,647 36,763 Total inventories $ 409,110 $ 340,732 $ 432,280

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	9 Months Ended
	Oct. 02, 2021
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	SHORT-TERM BORROWINGS AND LONG-TERM DEBT Credit Facilities On May 17, 2019, the Company entered into a $1.55 billion senior secured credit facility (the "Credit Agreement") under which it incurred $1.05 billion of indebtedness, the proceeds of which were used primarily to finance a cash transfer to VF in connection with the Separation. At inception, this facility consisted of a five-year $750.0 million term loan A facility (“Term Loan A”), a seven-year $300.0 million term loan B facility (“Term Loan B”) and a five-year $500.0 million revolving credit facility (the “Revolving Credit Facility”) (collectively, the “Credit Facilities”) with the lenders and agents party thereto. The Credit Agreement contains certain affirmative and negative covenants customary for financings of this type, including maintenance of ratios as defined in the Credit Agreement for consolidated earnings before interest, taxes, depreciation and amortization ("EBITDA") to consolidated debt (the "Total Leverage Ratio") and EBITDA to consolidated interest expense (the "Consolidated Interest Coverage Ratio"). As of September 2021, the maximum Total Leverage Ratio was 4.00 to 1.00 and the minimum Consolidated Interest Coverage Ratio was 3.00 to 1.00, both as measured over the most recent four consecutive fiscal quarters. In addition, beginning with the fiscal year ended December 2020, the Company is subject to additional mandatory repayments on Term Loan B if excess cash flow, as defined in the Credit Agreement, exceeds a specified threshold. As of September 2021, the Company was in compliance with all financial covenants and expects to maintain compliance with the financial covenants for at least one year from the issuance of these financial statements. Short-term Borrowings At September 2021, December 2020 and September 2020, the Company had $10.1 million, $35.9 million and $39.1 million, of borrowing availability under international lines of credit with various banks, which are uncommitted and may be terminated at any time by either the Company or the banks. Short-term borrowings outstanding under these arrangements were $0.2 million and $0.1 million at December 2020 and September 2020, respectively, and primarily consisted of letters of credit that are non-interest bearing to the Company. There were no outstanding balances under these arrangements at September 2021. In addition, short-term borrowings at September 2021 and December 2020 included other debt of $0.3 million and $0.9 million, respectively. Long-term Debt The following table presents the components of long-term debt as recorded in the Company's balance sheets: (In thousands) September 2021 December 2020 September 2020 Revolving Credit Facility $ — $ — $ 125,000 Term Loan A 660,738 694,241 693,817 Term Loan B 130,800 218,716 218,518 Total long-term debt 791,538 912,957 1,037,335 Less: current portion (18,125) (25,000) (15,625) Long-term debt, due beyond one year $ 773,413 $ 887,957 $ 1,021,710 The Revolving Credit Facility may be used to borrow funds in both U.S. dollar and certain non-U.S. dollar currencies, and has a $75.0 million letter of credit sublimit. As of September 2021, the Company had no outstanding borrowings under the Revolving Credit Facility and $12.3 million of outstanding standby letters of credit issued on behalf of the Company, leaving $487.7 million available for borrowing against this facility. The interest rate per annum applicable to the Revolving Credit Facility and Term Loan A is either a base rate plus a margin or the applicable LIBOR rate plus a margin, at the Company's election. The applicable margin varies from 37.5 to 125 basis points for base rate loans and from 137.5 to 225 basis points for LIBOR loans. The Company is also required to pay a facility fee to the lenders, varying from 20 to 40 basis points of the undrawn amount of the facility. The applicable margins and facility fee are subject to adjustments based on the Company's credit ratings and Total Leverage Ratio. Additionally, the interest rate per annum applicable to Term Loan B is either a base rate plus a margin of 325 basis points or the applicable LIBOR rate plus a margin of 425 basis points, at the Company's election. The LIBOR rate for all loans under the Credit Facility is subject to a "floor" of 0%. Interest payments on all loans under the Credit Facility are due at least quarterly, and could be due more frequently based on the Company's interest rate elections. Term Loan A had an outstanding principal amount of $665.0 million at September 2021, and $700.0 million at both December 2020 and September 2020, which is recorded net of unamortized deferred financing costs. As of September 2021, interest expense on Term Loan A was being recorded at an effective annual interest rate of 2.6%, including the remaining amortization of deferred financing costs and the impact of the Company’s interest rate swap agreements. Term Loan B had an outstanding principal amount of $133.0 million at September 2021, and $223.0 million at both December 2020 and September 2020, which is recorded net of unamortized original issue discount and deferred financing costs. As of September 2021, interest expense on Term Loan B was being recorded at an effective annual interest rate of 5.5%, including the remaining amortization of original issue discount, deferred financing costs and the impact of the Company’s interest rate swap agreements. In addition, during the nine months ended September 2021, the Company recorded interest expense of $1.9 million due to accelerated amortization of original issue discount and debt issuance costs associated with early repayments on term loans under our Credit Facilities.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Oct. 02, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Certain assets and liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. Categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities or (iii) information derived from or corroborated by observable market data. • Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be the Company's own data and judgments about assumptions that market participants would use in pricing the asset or liability. Recurring Fair Value Measurements The following tables present financial assets and financial liabilities that are measured and recorded in the Company's financial statements at fair value on a recurring basis: Fair Value Measurement Using (In thousands) Total Fair Value Level 1 Level 2 Level 3 September 2021 Financial assets: Cash equivalents: Money market funds $ 156,238 $ 156,238 $ — $ — Time deposits 2,850 2,850 — — Foreign currency exchange contracts 7,130 — 7,130 — Investment securities 57,285 57,285 — — Financial liabilities: Foreign currency exchange contracts 2,545 — 2,545 — Interest rate swap agreements 10,582 — 10,582 — Deferred compensation 58,563 — 58,563 — Fair Value Measurement Using (In thousands) Total Fair Value Level 1 Level 2 Level 3 December 2020 Financial assets: Cash equivalents: Money market funds $ 165,751 $ 165,751 $ — $ — Time deposits 4,978 4,978 — — Foreign currency exchange contracts 7,531 — 7,531 — Investment securities 57,166 57,166 — — Financial liabilities: Foreign currency exchange contracts 8,794 — 8,794 — Interest rate swap agreements 16,309 — 16,309 — Deferred compensation 58,035 — 58,035 — The Company's cash equivalents include money market funds and short-term time deposits that approximate fair value based on Level 1 measurements. The fair value of derivative financial instruments, which consist of foreign currency exchange contracts and interest rate swap agreements, is determined based on observable market inputs (Level 2), including spot and forward exchange rates for foreign currencies and observable interest rate yield curves for interest rate swap agreements. Investment securities are held in the Company's deferred compensation plans as an economic hedge of the related deferred compensation liabilities and are comprised of mutual funds that are valued based on quoted prices in active markets (Level 1). Liabilities related to the Company's deferred compensation plans are recorded at amounts due to participants, based on the fair value of the participants’ selection of hypothetical investments (Level 2). Additionally, at September 2021, the carrying value of the Company's long-term debt was $791.5 million compared to a fair value of $794.7 million. At December 2020, the carrying value of the Company's long-term debt was $913.0 million compared to a fair value of $916.0 million. The fair value of long-term debt is a Level 2 estimate based on quoted market prices or values of comparable borrowings. All other financial assets and financial liabilities are recorded in the Company's financial statements at cost. These other financial assets and financial liabilities include cash held as demand deposits, accounts receivable, short-term borrowings, accounts payable, and accrued liabilities. At September 2021 and December 2020, their carrying values approximated fair value due to the short-term nature of these instruments. Nonrecurring Fair Value Measurements Certain non-financial assets, primarily property, plant and equipment, capitalized computer software, operating lease assets and goodwill and intangible assets, are not required to be measured at fair value on a recurring basis and are reported at carrying value. However, these assets are required to be assessed for impairment when events or circumstances indicate that the carrying value may not be recoverable, and at least annually for goodwill and indefinite-lived intangible assets. In the event that an impairment is required, the asset is adjusted to fair value, using market-based assumptions. During 2020, the Company assessed retail store assets, including the related operating lease assets, for impairment due to retail store closures resulting from COVID-19 as well as the decision to exit certain VF Outlet

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Oct. 02, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Summary of Derivative Financial Instruments The Company enters into derivative contracts with external counterparties to hedge certain foreign currency transactions. The notional amount of all outstanding foreign currency exchange contracts was $298.9 million at September 2021, $295.0 million at December 2020 and $258.6 million at September 2020, consisting primarily of contracts hedging exposures to the euro, Mexican peso, Canadian dollar, British pound, Polish zloty, Swedish krona, and Indian rupee. Foreign currency exchange contracts have maturities up to 20 months. During 2019, the Company entered into "floating to fixed" interest rate swap agreements to mitigate exposure to volatility in LIBOR rates on the Company's future interest payments. The notional amount of the interest rate swap agreements was $350.0 million at September 2021 and $400.0 million at both December 2020 and September 2020. Because these interest rate swap agreements meet the criteria for hedge accounting, all related gains and losses are deferred within accumulated other comprehensive loss ("AOCL") and are being amortized through April 18, 2024. The Company's outstanding derivative financial instruments met the criteria for hedge accounting at the inception of the hedging relationship. At each reporting period, the Company assesses whether the hedging relationships continue to be highly effective in offsetting changes in cash flows of hedged items. If the Company determines that the hedging relationship has ceased to be highly effective, it would discontinue hedge accounting. All designated hedging relationships were determined to be highly effective as of September 2021. A limited number of foreign currency exchange contracts intended to hedge assets and liabilities are not designated as hedges for accounting purposes. The following table presents the fair value of outstanding derivatives on an individual contract basis: Fair Value of Derivatives Fair Value of Derivatives (In thousands) September 2021 December 2020 September 2020 September 2021 December 2020 September 2020 Derivatives designated as hedging instruments: Foreign currency exchange contracts $ 7,057 $ 7,179 $ 2,310 $ (2,545) $ (8,640) $ (7,096) Interest rate swap agreements — — — (10,582) (16,309) (18,094) Derivatives not designated as hedging instruments: Foreign currency exchange contracts 73 352 458 — (154) (149) Total derivatives $ 7,130 $ 7,531 $ 2,768 $ (13,127) $ (25,103) $ (25,339) The Company records and presents the fair value of all derivative assets and liabilities in the Company's balance sheets on a gross basis, even though certain derivative contracts are subject to master netting agreements. If the Company were to offset and record the asset and liability balances of its derivative contracts on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Company's balance sheets would be adjusted from the current gross presentation to the net amounts. The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances: September 2021 December 2020 September 2020 (In thousands) Derivative Asset Derivative Liability Derivative Asset Derivative Liability Derivative Asset Derivative Gross amounts presented in the balance sheet $ 7,130 $ (13,127) $ 7,531 $ (25,103) $ 2,768 $ (25,339) Gross amounts not offset in the balance sheet (1,560) 1,560 (1,818) 1,818 (2,110) 2,110 Net amounts $ 5,570 $ (11,567) $ 5,713 $ (23,285) $ 658 $ (23,229) The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates: (In thousands) September 2021 December 2020 September 2020 Prepaid expenses and other current assets $ 6,440 $ 5,773 $ 2,006 Accrued liabilities (2,110) (7,166) (6,594) Other assets 690 1,758 762 Other liabilities (11,017) (17,937) (18,745) Cash Flow Hedges The following tables present the pre-tax effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income (loss): Gain (Loss) on Derivatives Recognized in AOCL (In thousands) Three Months Ended Nine Months Ended Cash Flow Hedging Relationships September 2021 September 2020 September 2021 September 2020 Foreign currency exchange contracts $ 1,408 $ (313) $ 4,311 $ (10,407) Interest rate swap agreements (264) (897) 1,213 (18,220) Total $ 1,144 $ (1,210) $ 5,524 $ (28,627) Gain (Loss) Reclassified from AOCL into Income (In thousands) Three Months Ended Nine Months Ended Location of Gain (Loss) September 2021 September 2020 September 2021 September 2020 Net revenues $ 47 $ (36) $ 247 $ (588) Cost of goods sold 58 (578) (2,775) 4,778 Other expense, net (170) 36 (597) 173 Interest expense (1,507) (1,636) (4,515) (3,216) Total $ (1,572) $ (2,214) $ (7,640) $ 1,147 Derivative Contracts Not Designated as Hedges Contracts that are not designated as hedges and are recorded at fair value in the Company's balance sheets primarily relate to derivatives contracts used by the Company to manage foreign currency exchange risk on certain accounts receivable and accounts payable. Gains or losses on the balance sheet contracts largely offset the net transaction gains or losses on the related assets and liabilities. In addition, a limited number of cash flow hedges are deemed ineffective and de-designated. Changes in the fair values of derivative contracts not designated as hedges are recognized directly in earnings. The following table presents a summary of these derivatives included in the Company's statements of operations: (In thousands) Location of Gain (Loss) on Derivatives Recognized in Income Gain (Loss) on Derivatives Recognized in Income Three Months Ended Nine Months Ended Derivatives Not Designated as Hedges September 2021 September 2020 September 2021 September 2020 Foreign currency exchange contracts Net revenues $ — $ 37 $ (104) $ 43 Cost of goods sold 18 563 4 (2,559) Other expense, net 205 (18) 325 (8) Total $ 223 $ 582 $ 225 $ (2,524) Other Derivative Information There were no significant amounts recognized in earnings for any hedging relationships deemed ineffective during the three and nine months ended September 2021 and September 2020. At September 2021, AOCL included $0.8 million of pre-tax net deferred losses for foreign currency exchange contracts and interest rate swap agreements that are expected to be reclassified to earnings during the next 12 fiscal months. The amounts ultimately reclassified to earnings will depend on rates in effect when outstanding derivative contracts are settled.

CAPITAL AND ACCUMULATED OTHER C

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Oct. 02, 2021
Equity [Abstract]
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS	CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS Common Stock On August 5, 2021, the Company announced that its Board of Directors approved a share repurchase program (the "Repurchase Program"). The Repurchase Program authorizes the repurchase of up to $200.0 million of the Company's outstanding Common Stock through open market or privately negotiated transactions. The timing and amount of repurchases are determined by the Company's management based on its evaluation of market conditions, share price, legal requirements and other factors. The Repurchase Program does not have an expiration date but may be suspended, modified or terminated at any time without prior notice. All shares reacquired in connection with the Repurchase Program are treated as authorized and unissued shares upon repurchase. During the three months ended September 2021, the Company repurchased 184,973 shares of Common Stock for $10.0 million, including commissions, under the Repurchase Program. Accumulated Other Comprehensive Loss The Company's comprehensive income (loss) consists of net income and specified components of other comprehensive income (loss) (“OCL”), which relate to changes in assets and liabilities that are not included in net income but are instead deferred and accumulated within a separate component of equity in the Company's balance sheets. The Company's comprehensive income (loss) is presented in the Company's statements of comprehensive income (loss). The following table presents deferred components of AOCL in equity, net of related taxes: (In thousands) September 2021 December 2020 September 2020 Foreign currency translation $ (89,764) $ (80,178) $ (101,057) Defined benefit pension plans (1,822) (1,889) (2,356) Derivative financial instruments (2,549) (12,740) (19,384) Accumulated other comprehensive loss $ (94,135) $ (94,807) $ (122,797) The following tables present changes in AOCL, net of related tax impact: Three Months Ended September 2021 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, June 2021 $ (83,192) $ (1,826) $ (3,951) $ (88,969) Other comprehensive income (loss) due to gains (losses) arising before reclassifications (6,572) — 434 (6,138) Reclassifications to net income of previously deferred (gains) losses — 4 968 972 Net other comprehensive income (loss) (6,572) 4 1,402 (5,166) Balance, September 2021 $ (89,764) $ (1,822) $ (2,549) $ (94,135) Three Months Ended September 2020 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, June 2020 $ (108,129) $ (2,289) $ (20,880) $ (131,298) Other comprehensive income (loss) due to gains (losses) arising before reclassifications 7,072 (77) (469) 6,526 Reclassifications to net income of previously deferred (gains) losses — 10 1,965 1,975 Net other comprehensive income (loss) 7,072 (67) 1,496 8,501 Balance, September 2020 $ (101,057) $ (2,356) $ (19,384) $ (122,797) Nine Months Ended September 2021 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, December 2020 $ (80,178) $ (1,889) $ (12,740) $ (94,807) Other comprehensive income (loss) before reclassifications (9,586) — 4,631 (4,955) Reclassifications to net income of previously deferred (gains) losses — 67 5,560 5,627 Net other comprehensive income (loss) (9,586) 67 10,191 672 Balance, September 2021 $ (89,764) $ (1,822) $ (2,549) $ (94,135) Nine Months Ended September 2020 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, December 2019 $ (84,118) $ (2,301) $ 6,721 $ (79,698) Other comprehensive income (loss) before reclassifications (16,939) (85) (24,944) (41,968) Reclassifications to net income of previously deferred (gains) losses — 30 (1,161) (1,131) Net other comprehensive income (loss) (16,939) (55) (26,105) (43,099) Balance, September 2020 $ (101,057) $ (2,356) $ (19,384) $ (122,797) The following table presents reclassifications out of AOCL: (In thousands) Three Months Ended September Nine Months Ended September Details About Accumulated Other Comprehensive Loss Reclassifications Affected Line Item in the Financial Statements 2021 2020 2021 2020 Defined benefit pension plans: Net change in deferred losses during the period Selling, general and administrative expenses $ (4) $ (14) $ (89) $ (42) Total before tax (4) (14) (89) (42) Income taxes Income taxes — 4 22 12 Net of tax (4) (10) (67) (30) Gains (losses) on derivative financial instruments: Foreign currency exchange contracts Net revenues $ 47 $ (36) $ 247 $ (588) Foreign currency exchange contracts Cost of goods sold 58 (578) (2,775) 4,778 Foreign currency exchange contracts Other expense, net (170) 36 (597) 173 Interest rate swap agreements Interest expense (1,507) (1,636) (4,515) (3,216) Total before tax (1,572) (2,214) (7,640) 1,147 Income taxes Income taxes 604 249 2,080 14 Net of tax (968) (1,965) (5,560) 1,161 Total reclassifications for the period, net of tax $ (972) $ (1,975) $ (5,627) $ 1,131

INCOME TAXES

INCOME TAXES	9 Months Ended
	Oct. 02, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rate for the nine months ended September 2021 was 19.3% compared to (7.2)% in the 2020 period. The nine months ended September 2021 included a net discrete tax benefit of $1.3 million, primarily comprised of $2.2 million of tax benefit related to stock compensation and $0.4 million of tax expense related to a change in uncertain tax positions. The $1.3 million net discrete tax benefit in the nine months ended September 2021 decreased the effective income tax rate by 0.7%. The nine months ended September 2020 included a net discrete tax benefit of $6.8 million, primarily comprised of $6.3 million of tax benefit recognized due to the enactment of Swiss tax reform in the canton of Ticino and $0.7 million of tax benefit related to the finalization of U.S. federal, state and foreign tax return filings. The $6.8 million net discrete tax benefit in the nine months ended September 2020 decreased the effective income tax rate by 29.2%. The effective income tax rate without discrete items for the nine months ended September 2021 was 20.0% compared to 22.0% in the 2020 period. The decrease was primarily due to changes in our jurisdictional mix of earnings and the relative impact of losses incurred for which no related tax benefit was recognized. During the nine months ended September 2021, the amount of net unrecognized tax benefits and associated interest increased by $0.5 million to $13.9 million. Management also believes that it is reasonably possible that the amount of unrecognized tax benefits may decrease by $0.6 million within the next 12 fiscal months due to settlements of audits and expiration of statutes of limitations, all of which would reduce income tax expense.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Oct. 02, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The calculations of basic and diluted earnings per share ("EPS") is based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively. The following table presents the calculations of basic and diluted EPS: Three Months Ended September Nine Months Ended September (In thousands, except per share amounts) 2021 2020 2021 2020 Net income $ 63,413 $ 60,785 $ 151,513 $ 24,811 Basic weighted average shares outstanding 57,648 57,007 57,535 56,938 Dilutive effect of stock-based awards 1,634 635 1,645 731 Diluted weighted average shares outstanding 59,282 57,642 59,180 57,669 Earnings per share: Basic earnings per common share $ 1.10 $ 1.07 $ 2.63 $ 0.44 Diluted earnings per common share $ 1.07 $ 1.05 $ 2.56 $ 0.43 For the three and nine months ended September 2021, there were an immaterial number of anti-dilutive shares that were excluded from the dilutive earnings per share calculation. A total of 1.6 million and 1.1 million of potentially dilutive shares were excluded from the diluted earnings per share calculation for the three and nine months ended September 2020, respectively, because the effect of their inclusion would have been anti-dilutive. For the three and nine months ended September 2021, respectively, a total of 0.4 million and 0.3 million shares of performance-based restricted stock units ("PRSUs") were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares. For both the three and nine months ended September 2020, a total of 0.4 million shares of PRSUs were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares.

LEASES

LEASES	9 Months Ended
	Oct. 02, 2021
Leases [Abstract]
LEASES	LEASES The Company enters into operating leases for retail stores, operational facilities, vehicles and certain equipment, with terms expiring at various dates through 2031. Most leases have fixed rentals, with many of the real estate leases requiring additional payments for real estate taxes and occupancy-related costs. The following table presents supplemental cash flow and non-cash information related to leases: Nine Months Ended September (In thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities - operating cash flows $ 27,815 $ 32,016 Right-of-use operating assets obtained in exchange for new operating leases - non-cash activity $ 3,330 $ 769

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Oct. 02, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING The Company generally incurs restructuring charges related to cost optimization of business activities, primarily related to severance and employee-related benefits. All of the $1.0 million of restructuring charges recognized during the nine months ended September 2021 were reflected within "selling, general and administrative expenses," and primarily related to previously approved initiatives. Of the $2.3 million and $13.9 million of restructuring charges recognized during the three and nine months ended September 2020, respectively, $1.9 million and $13.0 million were reflected within "selling, general and administrative expenses" and $0.4 million and $0.9 million were reflected within "cost of goods sold," respectively. Of the $1.7 million total restructuring accrual reported in the Company's balance sheet at September 2021, $1.6 million is expected to be paid out within the next 12 fiscal months and is classified within "accrued liabilities." The remaining $0.1 million is classified within "other liabilities." Of the $6.7 million total restructuring accrual reported in the Company's balance sheet at December 2020, $6.5 million was expected to be paid out within the next 12 fiscal months and was classified within "accrued liabilities," and the remaining $0.2 million was classified within "other liabilities." The following table presents the components of restructuring charges: Three Months Ended Nine Months Ended (In thousands) September 2021 September 2020 September 2021 September 2020 Severance and employee-related benefits $ — $ 2,314 $ 992 $ 12,324 Asset impairments — — — 1,579 Total restructuring charges $ — $ 2,314 $ 992 $ 13,903 The following table presents the restructuring costs by business segment: Three Months Ended Nine Months Ended (In thousands) September 2021 September 2020 September 2021 September 2020 Wrangler $ — $ — $ 306 $ 3,656 Lee — — 331 3,131 Corporate and other — 2,314 355 7,116 Total $ — $ 2,314 $ 992 $ 13,903 The following table presents activity in the restructuring accrual for the nine-month period ended September 2021: (In thousands) Total Accrual at December 2020 $ 6,741 Charges 992 Cash payments (6,024) Adjustments to accruals (26) Accrual at September 2021 $ 1,683

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Oct. 02, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn October 21, 2021, the Board of Directors declared a regular quarterly cash dividend of $0.46 per share of the Company's Common Stock. The cash dividend will be payable on December 20, 2021, to shareholders of record at the close of business on December 10, 2021.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Oct. 02, 2021
Accounting Policies [Abstract]
Fiscal Year	Fiscal YearThe Company operates and reports using a 52/53 week fiscal year ending on the Saturday closest to December 31 of each year. Accordingly, this Form 10-Q presents the third quarter of the Company's fiscal year ending January 1, 2022 ("fiscal 2021"), which is a 52-week fiscal year. For presentation purposes herein, all references to periods ended September 2021, December 2020 and September 2020 correspond to the fiscal periods ended October 2, 2021, January 2, 2021 and September 26, 2020, respectively.
Basis of Presentation - Interim Financial Statements	Basis of Presentation - Interim Financial Statements The accompanying unaudited interim financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and notes required by generally accepted accounting principles in the U.S. ("GAAP") for complete financial statements. In the opinion of management, the accompanying financial statements contain all normal and recurring adjustments necessary to fairly state the financial position, results of operations and cash flows of the Company for the interim periods presented. Operating results for the three and nine months ended September 2021 are not necessarily indicative of results that may be expected for any other interim period or for fiscal 2021. The unaudited financial statements should be read in conjunction with the audited consolidated and combined financial statements included in the Company's 2020 Annual Report on Form 10-K for the fiscal year ended January 2, 2021, as filed with the Securities and Exchange Commission ("SEC") on March 3, 2021 ("2020 Annual Report on Form 10-K").
Recently Adopted Accounting Standard and Recently Issued Accounting Standard	Recently Adopted Accounting Standard In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, " Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ," which amends and simplifies the accounting for income taxes by removing certain exceptions and providing new guidance to reduce complexity in certain aspects of the current guidance. This guidance was adopted by the Company during the first quarter of 2021 and did not impact the Company’s financial statements or related disclosures. Recently Issued Accounting Standard In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting ,” which is intended to provide temporary optional expedients and exceptions for applying GAAP to contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance was effective upon issuance and the Company may adopt the guidance and apply it prospectively to contract modifications made or relationships entered into or evaluated any time from the issuance date through December 31, 2022. The Company will continue to evaluate the impact that adoption of this guidance would have on its financial statements and related disclosures, which is not expected to be significant.
Fair Value Measurements	Certain assets and liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. Categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities or (iii) information derived from or corroborated by observable market data. • Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be the Company's own data and judgments about assumptions that market participants would use in pricing the asset or liability.

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Oct. 02, 2021
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table presents information about contract balances recorded in the Company's balance sheets: (In thousands) September 2021 December 2020 September 2020 Accounts receivable, net $ 269,874 $ 231,397 $ 221,971 Contract assets (a) 3,702 5,769 4,385 Contract liabilities (b) 2,118 787 1,229 (a) Included within "prepaid expenses and other current assets" in the Company's balance sheets. (b) Included within "accrued liabilities" in the Company's balance sheets.
Disaggregation of Revenue	Three Months Ended September 2021 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 344,277 $ 105,779 $ 2,226 $ 452,282 Non-U.S. Wholesale 48,558 86,494 446 135,498 Direct-to-Consumer 28,673 35,700 6 64,379 Other — — 139 139 Total $ 421,508 $ 227,973 $ 2,817 $ 652,298 Geographic revenues U.S. $ 368,507 $ 121,951 $ 2,371 $ 492,829 International 53,001 106,022 446 159,469 Total $ 421,508 $ 227,973 $ 2,817 $ 652,298 Three Months Ended September 2020 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 285,639 $ 105,757 $ 2,259 $ 393,655 Non-U.S. Wholesale 35,724 70,555 1,124 107,403 Direct-to-Consumer 25,266 38,128 8 63,402 Other — — 18,762 18,762 Total $ 346,629 $ 214,440 $ 22,153 $ 583,222 Geographic revenues U.S. $ 307,512 $ 126,912 $ 21,029 $ 455,453 International 39,117 87,528 1,124 127,769 Total $ 346,629 $ 214,440 $ 22,153 $ 583,222 Nine Months Ended September 2021 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 919,176 $ 309,673 $ 6,386 $ 1,235,235 Non-U.S. Wholesale 137,206 232,984 1,888 372,078 Direct-to-Consumer 75,249 111,478 19 186,746 Other — — 766 766 Total $ 1,131,631 $ 654,135 $ 9,059 $ 1,794,825 Geographic revenues U.S. $ 982,532 $ 356,362 $ 7,171 $ 1,346,065 International 149,099 297,773 1,888 448,760 Total $ 1,131,631 $ 654,135 $ 9,059 $ 1,794,825 Nine Months Ended September 2020 (In thousands) Wrangler Lee Other Total Channel revenues U.S. Wholesale $ 739,104 $ 231,529 $ 8,823 $ 979,456 Non-U.S. Wholesale 99,912 157,413 1,428 258,753 Direct-to-Consumer 62,654 94,220 11 156,885 Other — — 41,880 41,880 Total $ 901,670 $ 483,162 $ 52,142 $ 1,436,974 Geographic revenues U.S. $ 792,662 $ 278,999 $ 50,714 $ 1,122,375 International 109,008 204,163 1,428 314,599 Total $ 901,670 $ 483,162 $ 52,142 $ 1,436,974

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Oct. 02, 2021
Segment Reporting [Abstract]
Financial Information for Reportable Segments	The following table presents financial information for the Company's reportable segments and income before income taxes: Three Months Ended September Nine Months Ended September (In thousands) 2021 2020 2021 2020 Segment revenues: Wrangler $ 421,508 $ 346,629 $ 1,131,631 $ 901,670 Lee 227,973 214,440 654,135 483,162 Total reportable segment revenues 649,481 561,069 1,785,766 1,384,832 Other revenues 2,817 22,153 9,059 52,142 Total net revenues $ 652,298 $ 583,222 $ 1,794,825 $ 1,436,974 Segment profit: Wrangler $ 77,184 $ 76,908 $ 214,001 $ 139,709 Lee 42,969 40,968 112,583 23,524 Total reportable segment profit $ 120,153 $ 117,876 $ 326,584 $ 163,233 Corporate and other expenses (35,051) (31,347) (113,585) (90,917) Interest expense (7,156) (13,249) (26,588) (37,308) Interest income 345 283 1,024 1,255 Profit (loss) related to other revenues 202 (4,416) 261 (13,121) Income before income taxes $ 78,493 $ 69,147 $ 187,696 $ 23,142

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	9 Months Ended
	Oct. 02, 2021
Receivables [Abstract]
Rollforward of the Allowance for Doubtful Accounts	The following table presents a rollforward of the allowance for doubtful accounts: Nine Months Ended September (In thousands) 2021 2020 Balance, December $ 19,143 $ 11,852 Provision for expected credit losses (130) 19,642 Accounts receivable balances written off (1) (6,526) (8,801) Other (2) (633) 65 Balance, September $ 11,854 $ 22,758 (1) Accounts receivable balances written off against the allowance were primarily due to the bankruptcy of a major U.S. retail customer during the second quarter of 2020, write-offs related to our India business during 2021 as well as the impact of COVID-19 during the 2021 and 2020 periods. (2) Other primarily includes the impact of foreign currency translation and recoveries of amounts previously written off, none of which were individually significant.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Oct. 02, 2021
Inventory Disclosure [Abstract]
Inventories	The following table presents components of inventories recorded in the Company's balance sheets: (In thousands) September 2021 December 2020 September 2020 Finished products $ 342,008 $ 277,164 $ 368,976 Work-in-process 29,596 29,921 26,541 Raw materials 37,506 33,647 36,763 Total inventories $ 409,110 $ 340,732 $ 432,280

SHORT-TERM BORROWINGS AND LON_2

SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Tables)	9 Months Ended
	Oct. 02, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term Debt The following table presents the components of long-term debt as recorded in the Company's balance sheets: (In thousands) September 2021 December 2020 September 2020 Revolving Credit Facility $ — $ — $ 125,000 Term Loan A 660,738 694,241 693,817 Term Loan B 130,800 218,716 218,518 Total long-term debt 791,538 912,957 1,037,335 Less: current portion (18,125) (25,000) (15,625) Long-term debt, due beyond one year $ 773,413 $ 887,957 $ 1,021,710

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Oct. 02, 2021
Fair Value Disclosures [Abstract]
Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis	The following tables present financial assets and financial liabilities that are measured and recorded in the Company's financial statements at fair value on a recurring basis: Fair Value Measurement Using (In thousands) Total Fair Value Level 1 Level 2 Level 3 September 2021 Financial assets: Cash equivalents: Money market funds $ 156,238 $ 156,238 $ — $ — Time deposits 2,850 2,850 — — Foreign currency exchange contracts 7,130 — 7,130 — Investment securities 57,285 57,285 — — Financial liabilities: Foreign currency exchange contracts 2,545 — 2,545 — Interest rate swap agreements 10,582 — 10,582 — Deferred compensation 58,563 — 58,563 — Fair Value Measurement Using (In thousands) Total Fair Value Level 1 Level 2 Level 3 December 2020 Financial assets: Cash equivalents: Money market funds $ 165,751 $ 165,751 $ — $ — Time deposits 4,978 4,978 — — Foreign currency exchange contracts 7,531 — 7,531 — Investment securities 57,166 57,166 — — Financial liabilities: Foreign currency exchange contracts 8,794 — 8,794 — Interest rate swap agreements 16,309 — 16,309 — Deferred compensation 58,035 — 58,035 —

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Oct. 02, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table presents the fair value of outstanding derivatives on an individual contract basis: Fair Value of Derivatives Fair Value of Derivatives (In thousands) September 2021 December 2020 September 2020 September 2021 December 2020 September 2020 Derivatives designated as hedging instruments: Foreign currency exchange contracts $ 7,057 $ 7,179 $ 2,310 $ (2,545) $ (8,640) $ (7,096) Interest rate swap agreements — — — (10,582) (16,309) (18,094) Derivatives not designated as hedging instruments: Foreign currency exchange contracts 73 352 458 — (154) (149) Total derivatives $ 7,130 $ 7,531 $ 2,768 $ (13,127) $ (25,103) $ (25,339) The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances: September 2021 December 2020 September 2020 (In thousands) Derivative Asset Derivative Liability Derivative Asset Derivative Liability Derivative Asset Derivative Gross amounts presented in the balance sheet $ 7,130 $ (13,127) $ 7,531 $ (25,103) $ 2,768 $ (25,339) Gross amounts not offset in the balance sheet (1,560) 1,560 (1,818) 1,818 (2,110) 2,110 Net amounts $ 5,570 $ (11,567) $ 5,713 $ (23,285) $ 658 $ (23,229) The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates: (In thousands) September 2021 December 2020 September 2020 Prepaid expenses and other current assets $ 6,440 $ 5,773 $ 2,006 Accrued liabilities (2,110) (7,166) (6,594) Other assets 690 1,758 762 Other liabilities (11,017) (17,937) (18,745)
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following tables present the pre-tax effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income (loss): Gain (Loss) on Derivatives Recognized in AOCL (In thousands) Three Months Ended Nine Months Ended Cash Flow Hedging Relationships September 2021 September 2020 September 2021 September 2020 Foreign currency exchange contracts $ 1,408 $ (313) $ 4,311 $ (10,407) Interest rate swap agreements (264) (897) 1,213 (18,220) Total $ 1,144 $ (1,210) $ 5,524 $ (28,627) Gain (Loss) Reclassified from AOCL into Income (In thousands) Three Months Ended Nine Months Ended Location of Gain (Loss) September 2021 September 2020 September 2021 September 2020 Net revenues $ 47 $ (36) $ 247 $ (588) Cost of goods sold 58 (578) (2,775) 4,778 Other expense, net (170) 36 (597) 173 Interest expense (1,507) (1,636) (4,515) (3,216) Total $ (1,572) $ (2,214) $ (7,640) $ 1,147
Derivatives Not Designated as Hedging Instruments	The following table presents a summary of these derivatives included in the Company's statements of operations: (In thousands) Location of Gain (Loss) on Derivatives Recognized in Income Gain (Loss) on Derivatives Recognized in Income Three Months Ended Nine Months Ended Derivatives Not Designated as Hedges September 2021 September 2020 September 2021 September 2020 Foreign currency exchange contracts Net revenues $ — $ 37 $ (104) $ 43 Cost of goods sold 18 563 4 (2,559) Other expense, net 205 (18) 325 (8) Total $ 223 $ 582 $ 225 $ (2,524)

CAPITAL AND ACCUMULATED OTHER_2

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Oct. 02, 2021
Equity [Abstract]
Deferred Components of AOCL in Equity, Net of Related Taxes, and Changes in AOCL	The following table presents deferred components of AOCL in equity, net of related taxes: (In thousands) September 2021 December 2020 September 2020 Foreign currency translation $ (89,764) $ (80,178) $ (101,057) Defined benefit pension plans (1,822) (1,889) (2,356) Derivative financial instruments (2,549) (12,740) (19,384) Accumulated other comprehensive loss $ (94,135) $ (94,807) $ (122,797) The following tables present changes in AOCL, net of related tax impact: Three Months Ended September 2021 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, June 2021 $ (83,192) $ (1,826) $ (3,951) $ (88,969) Other comprehensive income (loss) due to gains (losses) arising before reclassifications (6,572) — 434 (6,138) Reclassifications to net income of previously deferred (gains) losses — 4 968 972 Net other comprehensive income (loss) (6,572) 4 1,402 (5,166) Balance, September 2021 $ (89,764) $ (1,822) $ (2,549) $ (94,135) Three Months Ended September 2020 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, June 2020 $ (108,129) $ (2,289) $ (20,880) $ (131,298) Other comprehensive income (loss) due to gains (losses) arising before reclassifications 7,072 (77) (469) 6,526 Reclassifications to net income of previously deferred (gains) losses — 10 1,965 1,975 Net other comprehensive income (loss) 7,072 (67) 1,496 8,501 Balance, September 2020 $ (101,057) $ (2,356) $ (19,384) $ (122,797) Nine Months Ended September 2021 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, December 2020 $ (80,178) $ (1,889) $ (12,740) $ (94,807) Other comprehensive income (loss) before reclassifications (9,586) — 4,631 (4,955) Reclassifications to net income of previously deferred (gains) losses — 67 5,560 5,627 Net other comprehensive income (loss) (9,586) 67 10,191 672 Balance, September 2021 $ (89,764) $ (1,822) $ (2,549) $ (94,135) Nine Months Ended September 2020 Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments (In thousands) Total Balance, December 2019 $ (84,118) $ (2,301) $ 6,721 $ (79,698) Other comprehensive income (loss) before reclassifications (16,939) (85) (24,944) (41,968) Reclassifications to net income of previously deferred (gains) losses — 30 (1,161) (1,131) Net other comprehensive income (loss) (16,939) (55) (26,105) (43,099) Balance, September 2020 $ (101,057) $ (2,356) $ (19,384) $ (122,797)
Reclassification out of AOCL	The following table presents reclassifications out of AOCL: (In thousands) Three Months Ended September Nine Months Ended September Details About Accumulated Other Comprehensive Loss Reclassifications Affected Line Item in the Financial Statements 2021 2020 2021 2020 Defined benefit pension plans: Net change in deferred losses during the period Selling, general and administrative expenses $ (4) $ (14) $ (89) $ (42) Total before tax (4) (14) (89) (42) Income taxes Income taxes — 4 22 12 Net of tax (4) (10) (67) (30) Gains (losses) on derivative financial instruments: Foreign currency exchange contracts Net revenues $ 47 $ (36) $ 247 $ (588) Foreign currency exchange contracts Cost of goods sold 58 (578) (2,775) 4,778 Foreign currency exchange contracts Other expense, net (170) 36 (597) 173 Interest rate swap agreements Interest expense (1,507) (1,636) (4,515) (3,216) Total before tax (1,572) (2,214) (7,640) 1,147 Income taxes Income taxes 604 249 2,080 14 Net of tax (968) (1,965) (5,560) 1,161 Total reclassifications for the period, net of tax $ (972) $ (1,975) $ (5,627) $ 1,131

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Oct. 02, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table presents the calculations of basic and diluted EPS: Three Months Ended September Nine Months Ended September (In thousands, except per share amounts) 2021 2020 2021 2020 Net income $ 63,413 $ 60,785 $ 151,513 $ 24,811 Basic weighted average shares outstanding 57,648 57,007 57,535 56,938 Dilutive effect of stock-based awards 1,634 635 1,645 731 Diluted weighted average shares outstanding 59,282 57,642 59,180 57,669 Earnings per share: Basic earnings per common share $ 1.10 $ 1.07 $ 2.63 $ 0.44 Diluted earnings per common share $ 1.07 $ 1.05 $ 2.56 $ 0.43

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Oct. 02, 2021
Leases [Abstract]
Schedule of Lease Costs	The following table presents supplemental cash flow and non-cash information related to leases: Nine Months Ended September (In thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities - operating cash flows $ 27,815 $ 32,016 Right-of-use operating assets obtained in exchange for new operating leases - non-cash activity $ 3,330 $ 769

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
	Oct. 02, 2021
Restructuring and Related Activities [Abstract]
Components of Restructuring Charges	The following table presents the components of restructuring charges: Three Months Ended Nine Months Ended (In thousands) September 2021 September 2020 September 2021 September 2020 Severance and employee-related benefits $ — $ 2,314 $ 992 $ 12,324 Asset impairments — — — 1,579 Total restructuring charges $ — $ 2,314 $ 992 $ 13,903 The following table presents the restructuring costs by business segment: Three Months Ended Nine Months Ended (In thousands) September 2021 September 2020 September 2021 September 2020 Wrangler $ — $ — $ 306 $ 3,656 Lee — — 331 3,131 Corporate and other — 2,314 355 7,116 Total $ — $ 2,314 $ 992 $ 13,903
Activity in Restructuring	The following table presents activity in the restructuring accrual for the nine-month period ended September 2021: (In thousands) Total Accrual at December 2020 $ 6,741 Charges 992 Cash payments (6,024) Adjustments to accruals (26) Accrual at September 2021 $ 1,683

REVENUES - Contract Assets and

REVENUES - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 269,874	$ 231,397	$ 221,971
Contract assets	3,702	5,769	4,385
Contract liabilities	$ 2,118	$ 787	$ 1,229

REVENUES - Additional Informati

REVENUES - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 0	$ 200,000	$ 0	$ 1,400,000

REVENUES - Remaining Performanc

REVENUES - Remaining Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-03 $ in Millions	Oct. 02, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 26.4
Remaining performance obligation, expected timing of satisfaction, period	5 years 3 months

REVENUES - Disaggregation of Re

REVENUES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 652,298	$ 583,222	$ 1,794,825	$ 1,436,974
U.S.
Disaggregation of Revenue [Line Items]
Revenue	492,829	455,453	1,346,065	1,122,375
International
Disaggregation of Revenue [Line Items]
Revenue	159,469	127,769	448,760	314,599
Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	452,282	393,655	1,235,235	979,456
Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	135,498	107,403	372,078	258,753
Direct-to-Consumer
Disaggregation of Revenue [Line Items]
Revenue	64,379	63,402	186,746	156,885
Other
Disaggregation of Revenue [Line Items]
Revenue	139	18,762	766	41,880
Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	649,481	561,069	1,785,766	1,384,832
Operating Segments | Wrangler
Disaggregation of Revenue [Line Items]
Revenue	421,508	346,629	1,131,631	901,670
Operating Segments | Wrangler | U.S.
Disaggregation of Revenue [Line Items]
Revenue	368,507	307,512	982,532	792,662
Operating Segments | Wrangler | International
Disaggregation of Revenue [Line Items]
Revenue	53,001	39,117	149,099	109,008
Operating Segments | Wrangler | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	344,277	285,639	919,176	739,104
Operating Segments | Wrangler | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	48,558	35,724	137,206	99,912
Operating Segments | Wrangler | Direct-to-Consumer
Disaggregation of Revenue [Line Items]
Revenue	28,673	25,266	75,249	62,654
Operating Segments | Wrangler | Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Operating Segments | Lee
Disaggregation of Revenue [Line Items]
Revenue	227,973	214,440	654,135	483,162
Operating Segments | Lee | U.S.
Disaggregation of Revenue [Line Items]
Revenue	121,951	126,912	356,362	278,999
Operating Segments | Lee | International
Disaggregation of Revenue [Line Items]
Revenue	106,022	87,528	297,773	204,163
Operating Segments | Lee | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	105,779	105,757	309,673	231,529
Operating Segments | Lee | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	86,494	70,555	232,984	157,413
Operating Segments | Lee | Direct-to-Consumer
Disaggregation of Revenue [Line Items]
Revenue	35,700	38,128	111,478	94,220
Operating Segments | Lee | Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Revenue	2,817	22,153	9,059	52,142
Other | U.S.
Disaggregation of Revenue [Line Items]
Revenue	2,371	21,029	7,171	50,714
Other | International
Disaggregation of Revenue [Line Items]
Revenue	446	1,124	1,888	1,428
Other | Wholesale | U.S.
Disaggregation of Revenue [Line Items]
Revenue	2,226	2,259	6,386	8,823
Other | Wholesale | International
Disaggregation of Revenue [Line Items]
Revenue	446	1,124	1,888	1,428
Other | Direct-to-Consumer
Disaggregation of Revenue [Line Items]
Revenue	6	8	19	11
Other | Other
Disaggregation of Revenue [Line Items]
Revenue	$ 139	$ 18,762	$ 766	$ 41,880

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Additional Information (Details)	9 Months Ended
	Oct. 02, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	2

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Segment Reporting Information [Line Items]
Total net revenues	$ 652,298	$ 583,222	$ 1,794,825	$ 1,436,974
Operating income (loss)	85,980	82,864	214,333	60,905
Interest expense	(7,156)	(13,249)	(26,588)	(37,308)
Interest income	345	283	1,024	1,255
Income before income taxes	78,493	69,147	187,696	23,142
Operating Segments
Segment Reporting Information [Line Items]
Total net revenues	649,481	561,069	1,785,766	1,384,832
Operating income (loss)	120,153	117,876	326,584	163,233
Operating Segments | Wrangler
Segment Reporting Information [Line Items]
Total net revenues	421,508	346,629	1,131,631	901,670
Operating income (loss)	77,184	76,908	214,001	139,709
Operating Segments | Lee
Segment Reporting Information [Line Items]
Total net revenues	227,973	214,440	654,135	483,162
Operating income (loss)	42,969	40,968	112,583	23,524
Corporate and other expenses
Segment Reporting Information [Line Items]
Corporate and other expenses	(35,051)	(31,347)	(113,585)	(90,917)
Other
Segment Reporting Information [Line Items]
Total net revenues	2,817	22,153	9,059	52,142
Operating income (loss)	$ 202	$ (4,416)	$ 261	$ (13,121)

ACCOUNTS RECEIVABLE - Rollforwa

ACCOUNTS RECEIVABLE - Rollforward of the allowance for doubtful accounts (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 19,143	$ 11,852
Provision for expected credit losses	(130)	19,642
Accounts receivable balances written off	(6,526)	(8,801)
Other	(633)	65
Ending balance	$ 11,854	$ 22,758

ACCOUNTS RECEIVABLE - Additiona

ACCOUNTS RECEIVABLE - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020	Jan. 02, 2021	Apr. 01, 2019
Receivables [Abstract]
Maximum amount of accounts receivable sold at any point in time (up to)						$ 377.5
Sale of accounts receivable			$ 943.2	$ 700.9
Accounts receivable removed related to sale of accounts receivable	$ 197.7	$ 195	197.7	195	$ 127.1
Funding fee	$ 0.5	$ 0.5	$ 1.4	$ 1.6

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Inventory Disclosure [Abstract]
Finished products	$ 342,008	$ 277,164	$ 368,976
Work-in-process	29,596	29,921	26,541
Raw materials	37,506	33,647	36,763
Total inventories	$ 409,110	$ 340,732	$ 432,280

SHORT-TERM BORROWINGS AND LON_3

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Additional Information (Details)	May 17, 2019USD ($)	Oct. 02, 2021USD ($)	Sep. 26, 2020USD ($)	Oct. 02, 2021USD ($)	Sep. 26, 2020USD ($)	Jan. 02, 2021USD ($)
Short-term Debt [Line Items]
Line of credit facility, amount outstanding	$ 1,550,000,000
Proceeds from issuance of long-term debt	$ 1,050,000,000
Short-term borrowings		$ 254,000	$ 148,000	$ 254,000	$ 148,000	$ 1,114,000
Other short-term borrowings		300,000		300,000		900,000
Long-term debt		791,538,000	1,037,335,000	791,538,000	1,037,335,000	912,957,000
Interest expense		7,156,000	13,249,000	26,588,000	37,308,000
International borrowing arrangements
Short-term Debt [Line Items]
Maximum borrowing capacity		10,100,000	39,100,000	10,100,000	39,100,000	35,900,000
Short-term borrowings		0	100,000	$ 0	100,000	200,000
Maximum
Short-term Debt [Line Items]
Leverage ratio				4
Unused capacity, commitment fee percentage				0.40%
Maximum | Base Rate
Short-term Debt [Line Items]
Basis spread				1.25%
Maximum | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread				2.25%
Minimum
Short-term Debt [Line Items]
Debt instrument, interest coverage ratio				3
Unused capacity, commitment fee percentage				0.20%
Minimum | Base Rate
Short-term Debt [Line Items]
Basis spread				0.375%
Minimum | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread				1.375%
Revolving Credit Facility
Short-term Debt [Line Items]
Debt instrument, term	5 years
Maximum borrowing capacity	$ 500,000,000
Long-term debt		0	125,000,000	$ 0	125,000,000	0
Remaining borrowing capacity		487,700,000		$ 487,700,000
Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread				0.00%
Letter of Credit
Short-term Debt [Line Items]
Maximum borrowing capacity		75,000,000		$ 75,000,000
Long-term line of credit		12,300,000		12,300,000
Term Loan
Short-term Debt [Line Items]
Interest expense				1,900,000
Term Loan A | Term Loan
Short-term Debt [Line Items]
Debt instrument, term	5 years
Maximum borrowing capacity	$ 750,000,000
Long-term debt		660,738,000	693,817,000	660,738,000	693,817,000	694,241,000
Long-term debt		$ 665,000,000	700,000,000	$ 665,000,000	700,000,000	700,000,000
Effective annual interest rate		2.60%		2.60%
Term Loan B | Term Loan
Short-term Debt [Line Items]
Debt instrument, term	7 years
Maximum borrowing capacity	$ 300,000,000
Long-term debt		$ 130,800,000	218,518,000	$ 130,800,000	218,518,000	218,716,000
Long-term debt		$ 133,000,000	$ 223,000,000	$ 133,000,000	$ 223,000,000	$ 223,000,000
Effective annual interest rate		5.50%		5.50%
Term Loan B | Term Loan | Base Rate
Short-term Debt [Line Items]
Basis spread				3.25%
Term Loan B | Term Loan | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread				4.25%

SHORT-TERM BORROWINGS AND LON_4

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Schedule of Long-term Debt Instruments (Details) - USD ($)	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 791,538,000	$ 912,957,000	$ 1,037,335,000
Less: current portion	(18,125,000)	(25,000,000)	(15,625,000)
Long-term debt, due beyond one year	773,413,000	887,957,000	1,021,710,000
Term Loan A | Term Loan
Debt Instrument [Line Items]
Total long-term debt	660,738,000	694,241,000	693,817,000
Term Loan B | Term Loan
Debt Instrument [Line Items]
Total long-term debt	130,800,000	218,716,000	218,518,000
Revolving Credit Facility
Debt Instrument [Line Items]
Total long-term debt	$ 0	$ 0	$ 125,000,000

FAIR VALUE MEASUREMENTS - Class

FAIR VALUE MEASUREMENTS - Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Cash equivalents:
Money market funds	$ 156,238	$ 165,751
Time deposits	2,850	4,978
Foreign currency exchange contracts	7,130	7,531	$ 2,768
Investment securities	57,285	57,166
Financial liabilities:
Derivative liability	13,127	25,103	$ 25,339
Deferred compensation	58,563	58,035
Level 1
Cash equivalents:
Money market funds	156,238	165,751
Time deposits	2,850	4,978
Investment securities	57,285	57,166
Financial liabilities:
Deferred compensation	0	0
Level 2
Cash equivalents:
Money market funds	0	0
Time deposits	0	0
Investment securities	0	0
Financial liabilities:
Deferred compensation	58,563	58,035
Level 3
Cash equivalents:
Money market funds	0	0
Time deposits	0	0
Investment securities	0	0
Financial liabilities:
Deferred compensation	0	0
Foreign currency exchange contracts
Cash equivalents:
Foreign currency exchange contracts	7,130	7,531
Financial liabilities:
Derivative liability	2,545	8,794
Foreign currency exchange contracts | Level 1
Cash equivalents:
Foreign currency exchange contracts	0	0
Financial liabilities:
Derivative liability	0	0
Foreign currency exchange contracts | Level 2
Cash equivalents:
Foreign currency exchange contracts	7,130	7,531
Financial liabilities:
Derivative liability	2,545	8,794
Foreign currency exchange contracts | Level 3
Cash equivalents:
Foreign currency exchange contracts	0	0
Financial liabilities:
Derivative liability	0	0
Interest rate swap agreements
Financial liabilities:
Derivative liability	10,582	16,309
Interest rate swap agreements | Level 1
Financial liabilities:
Derivative liability	0	0
Interest rate swap agreements | Level 2
Financial liabilities:
Derivative liability	10,582	16,309
Interest rate swap agreements | Level 3
Financial liabilities:
Derivative liability	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020	Jan. 02, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 791,538	$ 1,037,335	$ 791,538	$ 1,037,335	$ 912,957
Asset impairments	0	$ 0	0	1,579
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairments				$ 1,800
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	$ 794,700		$ 794,700		$ 916,000

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Additional information (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Derivative [Line Items]
Cash flow hedge loss to be reclassified during the next 12 months	$ 0.8
Foreign currency exchange contracts
Derivative [Line Items]
Notional amount	$ 298.9	$ 295	$ 258.6
Term of contract (up to)	20 months
Interest rate swap agreements
Derivative [Line Items]
Notional amount	$ 350	$ 400	$ 400

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding derivatives on an individual contract basis (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Fair Value of Derivatives with Unrealized Gains
Total derivatives	$ 7,130	$ 7,531	$ 2,768
Fair Value of Derivatives with Unrealized Losses
Total derivatives	(13,127)	(25,103)	(25,339)
Designated as Hedging Instrument | Foreign currency exchange contracts
Fair Value of Derivatives with Unrealized Gains
Derivatives designated as hedging instruments:	7,057	7,179	2,310
Fair Value of Derivatives with Unrealized Losses
Derivatives designated as hedging instruments:	(2,545)	(8,640)	(7,096)
Designated as Hedging Instrument | Interest rate swap agreements
Fair Value of Derivatives with Unrealized Gains
Derivatives designated as hedging instruments:	0	0	0
Fair Value of Derivatives with Unrealized Losses
Derivatives designated as hedging instruments:	(10,582)	(16,309)	(18,094)
Not Designated as Hedging Instrument | Foreign currency exchange contracts
Fair Value of Derivatives with Unrealized Gains
Derivatives not designated as hedging instruments:	73	352	458
Fair Value of Derivatives with Unrealized Losses
Derivatives not designated as hedging instruments:	$ 0	$ (154)	$ (149)

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Balance sheet (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Derivative Asset
Gross amounts presented in the balance sheet	$ 7,130	$ 7,531	$ 2,768
Gross amounts not offset in the balance sheet	(1,560)	(1,818)	(2,110)
Derivative Asset	5,570	5,713	658
Derivative Liability
Gross amounts presented in the balance sheet	(13,127)	(25,103)	(25,339)
Gross amounts not offset in the balance sheet	1,560	1,818	2,110
Derivative Liability	$ (11,567)	$ (23,285)	$ (23,229)

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivatives are classified as current or noncurrent (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	$ 7,130	$ 7,531	$ 2,768
Foreign currency exchange contracts	(13,127)	(25,103)	(25,339)
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	6,440	5,773	2,006
Accrued liabilities
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	(2,110)	(7,166)	(6,594)
Other assets
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	690	1,758	762
Other liabilities
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	$ (11,017)	$ (17,937)	$ (18,745)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Cash flows hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in AOCL	$ 1,144	$ (1,210)	$ 5,524	$ (28,627)
Foreign currency exchange contracts
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in AOCL	1,408	(313)	4,311	(10,407)
Interest rate swap agreements
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in AOCL	$ (264)	$ (897)	$ 1,213	$ (18,220)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Location of gain (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL into Income	$ (1,572)	$ (2,214)	$ (7,640)	$ 1,147
Net revenues
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL into Income	47	(36)	247	(588)
Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL into Income	58	(578)	(2,775)	4,778
Other expense, net
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL into Income	(170)	36	(597)	173
Interest expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL into Income	$ (1,507)	$ (1,636)	$ (4,515)	$ (3,216)

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivative contracts not designated as hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in Income	$ 223	$ 582	$ 225	$ (2,524)
Net revenues
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in Income	0	37	(104)	43
Cost of goods sold
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in Income	18	563	4	(2,559)
Other expense, net
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in Income	$ 205	$ (18)	$ 325	$ (8)

CAPITAL AND ACCUMULATED OTHER_3

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 02, 2021	Aug. 05, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share repurchase program, number of shares authorized to be repurchased (in shares)		200,000,000
Repurchase of Common Stock	$ 10,006
Common Stock
Accumulated Other Comprehensive Income (Loss) [Line Items]
Repurchase of Common Stock (in shares)	184,973
Repurchase of Common Stock	$ 10,000

CAPITAL AND ACCUMULATED OTHER_4

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Deferred Components of AOCL in Equity, Net of Related Taxes (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jul. 03, 2021	Apr. 03, 2021	Jan. 02, 2021	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 184,754	$ 153,886	$ 134,264	$ 84,641	$ 26,028	$ (44,889)	$ (18,485)	$ 69,257
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(94,135)	(88,969)	$ (96,697)	(94,807)	(122,797)	(131,298)	$ (133,462)	(79,698)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(89,764)	(83,192)		(80,178)	(101,057)	(108,129)		(84,118)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(1,822)	(1,826)		(1,889)	(2,356)	(2,289)		(2,301)
Derivative Financial Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (2,549)	$ (3,951)		$ (12,740)	$ (19,384)	$ (20,880)		$ 6,721

CAPITAL AND ACCUMULATED OTHER_5

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Changes in AOCL, Net of Related Taxes (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 02, 2021	Jul. 03, 2021	Apr. 03, 2021	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Oct. 02, 2021	Sep. 26, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	$ 153,886	$ 134,264	$ 84,641	$ (44,889)	$ (18,485)	$ 69,257	$ 84,641	$ 69,257
Other comprehensive income (loss) due to gains (losses) arising before reclassifications	(6,138)			6,526			(4,955)	(41,968)
Reclassifications to net income of previously deferred (gains) losses	972			1,975			5,627	(1,131)
Total other comprehensive (loss) income, net of related taxes	(5,166)	7,728	(1,890)	8,501	2,164	(53,764)	672	(43,099)
Balance, ending	184,754	153,886	134,264	26,028	(44,889)	(18,485)	184,754	26,028
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(88,969)	(96,697)	(94,807)	(131,298)	(133,462)	(79,698)	(94,807)	(79,698)
Total other comprehensive (loss) income, net of related taxes	(5,166)	7,728	(1,890)	8,501	2,164	(53,764)
Balance, ending	(94,135)	(88,969)	(96,697)	(122,797)	(131,298)	(133,462)	(94,135)	(122,797)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(83,192)		(80,178)	(108,129)		(84,118)	(80,178)	(84,118)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications	(6,572)			7,072			(9,586)	(16,939)
Reclassifications to net income of previously deferred (gains) losses	0			0			0	0
Total other comprehensive (loss) income, net of related taxes	(6,572)			7,072			(9,586)	(16,939)
Balance, ending	(89,764)	(83,192)		(101,057)	(108,129)		(89,764)	(101,057)
Defined Benefit Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(1,826)		(1,889)	(2,289)		(2,301)	(1,889)	(2,301)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications	0			(77)			0	(85)
Reclassifications to net income of previously deferred (gains) losses	4			10			67	30
Total other comprehensive (loss) income, net of related taxes	4			(67)			67	(55)
Balance, ending	(1,822)	(1,826)		(2,356)	(2,289)		(1,822)	(2,356)
Derivative Financial Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(3,951)		$ (12,740)	(20,880)		$ 6,721	(12,740)	6,721
Other comprehensive income (loss) due to gains (losses) arising before reclassifications	434			(469)			4,631	(24,944)
Reclassifications to net income of previously deferred (gains) losses	968			1,965			5,560	(1,161)
Total other comprehensive (loss) income, net of related taxes	1,402			1,496			10,191	(26,105)
Balance, ending	$ (2,549)	$ (3,951)		$ (19,384)	$ (20,880)		$ (2,549)	$ (19,384)

CAPITAL AND ACCUMULATED OTHER_6

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Reclassification Out of AOCL (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 02, 2021	Jul. 03, 2021	Apr. 03, 2021	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Oct. 02, 2021	Sep. 26, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	$ 203,583			$ 174,846			$ 601,934	$ 521,935
Net revenues	652,298			583,222			1,794,825	1,436,974
Cost of goods sold	362,735			325,512			978,558	854,134
Other expense, net	(676)			(751)			(1,073)	(1,710)
Interest expense	(7,156)			(13,249)			(26,588)	(37,308)
Total before tax	78,493			69,147			187,696	23,142
Income taxes	(15,080)			(8,362)			(36,183)	1,669
Net income	63,413	$ 23,637	$ 64,463	60,785	$ (33,262)	$ (2,712)	151,513	24,811
Reclassification out of AOCL
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	(972)			(1,975)			(5,627)	1,131
Reclassification out of AOCL | Defined Benefit Pension Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	(4)			(14)			(89)	(42)
Total before tax	(4)			(14)			(89)	(42)
Income taxes	0			4			22	12
Net income	(4)			(10)			(67)	(30)
Reclassification out of AOCL | Derivative Financial Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	(1,572)			(2,214)			(7,640)	1,147
Income taxes	604			249			2,080	14
Net income	(968)			(1,965)			(5,560)	1,161
Reclassification out of AOCL | Derivative Financial Instruments | Foreign currency exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net revenues	47			(36)			247	(588)
Cost of goods sold	58			(578)			(2,775)	4,778
Other expense, net	(170)			36			(597)	173
Reclassification out of AOCL | Derivative Financial Instruments | Interest rate swap agreements
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (1,507)			$ (1,636)			$ (4,515)	$ (3,216)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	19.30%	(7.20%)
Net discrete tax benefits	$ 1.3	$ 6.8
Tax benefit related to stock compensation	2.2
Tax expense related to unrecognized tax benefits and interest	$ (0.4)
Tax increase (reduction) due to discrete items	(0.70%)	(29.20%)
Tax benefit recognized due to the enactment of Swiss tax reform		$ 6.3
Tax benefit related to state tax return filings		$ 0.7
Income tax rate, excluding discrete items	20.00%	22.00%
Increase in unrecognized tax benefits and associated interest	$ 0.5
Net unrecognized tax benefits and interest, if recognized, would reduce the annual effective tax rate	13.9
Possible decrease in unrecognized income tax benefits	$ 0.6

EARNINGS PER SHARE - Earnings p

EARNINGS PER SHARE - Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 02, 2021	Jul. 03, 2021	Apr. 03, 2021	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Oct. 02, 2021	Sep. 26, 2020
Earnings Per Share [Abstract]
Net income	$ 63,413	$ 23,637	$ 64,463	$ 60,785	$ (33,262)	$ (2,712)	$ 151,513	$ 24,811
Basic weighted average shares outstanding (in shares)	57,648			57,007			57,535	56,938
Dilutive effect of stock-based awards (in shares)	1,634			635			1,645	731
Diluted weighted average shares outstanding (in shares)	59,282			57,642			59,180	57,669
Earnings per share:
Basic earnings per common share (in USD per share)	$ 1.10			$ 1.07			$ 2.63	$ 0.44
Diluted earnings per common share (in USD per share)	$ 1.07			$ 1.05			$ 2.56	$ 0.43

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from computation of earnings per share (in shares)	0	1,600,000	0	1,100,000
Performance-based restricted stock units (PRSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from computation of earnings per share (in shares)	400,000	400,000	300,000	400,000

LEASES - Lease Costs (Details)

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities - operating cash flows	$ 27,815	$ 32,016
Right-of-use operating assets obtained in exchange for new operating leases - non-cash activity	$ 3,330	$ 769

RESTRUCTURING - Additional Info

RESTRUCTURING - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020	Jan. 02, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 2,314	$ 992	$ 13,903
Restructuring reserve	1,683		1,683		$ 6,741
Accrued Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	1,600		1,600		6,500
Other Noncurrent Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 100		$ 100		$ 200
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,900		13,000
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 400		$ 900

RESTRUCTURING - Components of R

RESTRUCTURING - Components of Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Restructuring and Related Activities [Abstract]
Severance and employee-related benefits	$ 0	$ 2,314	$ 992	$ 12,324
Asset impairments	0	0	0	1,579
Total restructuring charges	$ 0	$ 2,314	$ 992	$ 13,903

RESTRUCTURING - Restructuring c

RESTRUCTURING - Restructuring costs by business segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 2,314	$ 992	$ 13,903
Operating Segments | Wrangler
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	306	3,656
Operating Segments | Lee
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	331	3,131
Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 2,314	$ 355	$ 7,116

RESTRUCTURING - Activity in res

RESTRUCTURING - Activity in restructuring accrual (Details) $ in Thousands	9 Months Ended
	Oct. 02, 2021USD ($)
Restructuring Reserve [Roll Forward]
Amounts recorded in accrued liabilities, beginning	$ 6,741
Charges	992
Cash payments	(6,024)
Adjustments to accruals	(26)
Amounts recorded in accrued liabilities. ending	$ 1,683

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details)	Oct. 21, 2021$ / shares
Subsequent Event | Dividend Declared
Subsequent Event [Line Items]
Dividends payable (in USD per share)	$ 0.46