Deckers Outdoor (DECK) 10-Q3 Nov 222023 Q2 Quarterly reportFinancial data

Company Profile

COVER PAGE

COVER PAGE - shares	6 Months Ended
COVER PAGE - shares	Sep. 30, 2022	Oct. 13, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-36436
Entity Registrant Name	DECKERS OUTDOOR CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3015862
Entity Address, Address Line One	250 Coromar Drive
Entity Address, City or Town	Goleta
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	93117
City Area Code	805
Local Phone Number	967-7611
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	DECK
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 (in shares)		26,466,796
Entity Central Index Key	0000910521
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--03-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
ASSETS
Cash and cash equivalents	$ 419,259	$ 843,527
Trade accounts receivable, net of allowances ($37,234 and $30,591 as of September 30, 2022, and March 31, 2022, respectively)	434,674	302,688
Inventories	925,043	506,796
Prepaid expenses	36,151	25,610
Other current assets	73,781	55,264
Income tax receivable	24,377	18,243
Total current assets	1,913,285	1,752,128
Property and equipment, net of accumulated depreciation ($298,831 and $282,571 as of September 30, 2022, and March 31, 2022, respectively) (Note 11)	221,308	222,449
Operating lease assets	164,794	182,459
Goodwill	13,990	13,990
Other intangible assets, net of accumulated amortization ($78,760 and $79,061 as of September 30, 2022, and March 31, 2022, respectively)	38,552	39,688
Deferred tax assets, net	60,410	64,217
Other assets	54,010	57,319
Total assets	2,466,349	2,332,250
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	482,928	327,487
Accrued payroll	37,032	67,553
Operating lease liabilities	46,886	50,098
Other accrued expenses	87,624	81,400
Income tax payable	39,340	12,426
Value added tax payable	34,814	2,720
Total current liabilities	728,624	541,684
Long-term operating lease liabilities	150,259	171,972
Income tax liability	45,801	54,259
Other long-term liabilities	25,826	25,510
Total long-term liabilities	221,886	251,741
Commitments and contingencies (Note 5)
Stockholders' equity
Common stock ($0.01 par value; 125,000 shares authorized; shares issued and outstanding of 26,481 and 26,982 as of September 30, 2022, and March 31, 2022, respectively)	265	270
Additional paid-in capital	219,113	210,825
Retained earnings	1,348,823	1,352,685
Accumulated other comprehensive loss (Note 8)	(52,362)	(24,955)
Total stockholders' equity	1,515,839	1,538,825
Total liabilities and stockholders' equity	$ 2,466,349	$ 2,332,250

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances	$ 37,234	$ 30,591
Accumulated depreciation	298,831	282,571
Accumulated amortization	$ 78,760	$ 79,061
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	125,000,000	125,000,000
Common stock, issued shares (in shares)	26,481,000	26,982,000
Common stock, outstanding shares (in shares)	26,481,000	26,982,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net sales	$ 875,614	$ 721,902	$ 1,490,075	$ 1,226,580
Cost of sales	453,693	354,814	773,402	598,989
Gross profit	421,921	367,088	716,673	627,591
Selling, general, and administrative expenses	294,090	238,907	532,501	437,578
Income from operations	127,831	128,181	184,172	190,013
Interest income	(1,884)	(460)	(3,098)	(942)
Interest expense	1,038	913	2,090	1,809
Other (income) expense, net	(241)	48	(740)	(185)
Total other (income) expense, net	(1,087)	501	(1,748)	682
Income before income taxes	128,918	127,680	185,920	189,331
Income tax expense (Note 4)	27,394	25,617	39,547	39,144
Net income	101,524	102,063	146,373	150,187
Other comprehensive (loss) income, net of tax
Unrealized gain on cash flow hedges	1,088	1,033	1,846	2,491
Foreign currency translation loss	(13,529)	(2,537)	(29,253)	(644)
Total other comprehensive (loss) income, net of tax	(12,441)	(1,504)	(27,407)	1,847
Comprehensive income	$ 89,083	$ 100,559	$ 118,966	$ 152,034
Net income per share
Basic (in dollars per share)	$ 3.83	$ 3.69	$ 5.49	$ 5.42
Diluted (in dollars per share)	$ 3.80	$ 3.66	$ 5.46	$ 5.37
Weighted-average common shares outstanding (Note 9)
Basic (in shares)	26,517	27,651	26,646	27,731
Diluted (in shares)	26,682	27,896	26,815	27,978

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Mar. 31, 2021		27,910,000
Beginning balance at Mar. 31, 2021	$ 1,444,225	$ 279	$ 203,310	$ 1,257,379	$ (16,743)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)		1,000
Stock-based compensation	5,469		5,469
Exercise of stock options (in shares)		1,000
Exercise of stock options	69		69
Shares withheld for taxes	(85)		(85)
Repurchases of common stock (in shares)		(249,000)
Repurchases of common stock (Note 8)	(82,166)	$ (2)		(82,164)
Net income	48,124			48,124
Total other comprehensive (loss) income	3,351				3,351
Ending balance (in shares) at Jun. 30, 2021		27,663,000
Ending balance at Jun. 30, 2021	1,418,987	$ 277	208,763	1,223,339	(13,392)
Beginning balance (in shares) at Mar. 31, 2021		27,910,000
Beginning balance at Mar. 31, 2021	1,444,225	$ 279	203,310	1,257,379	(16,743)
Increase (Decrease) in Stockholders' Equity
Net income	150,187
Total other comprehensive (loss) income	1,847
Ending balance (in shares) at Sep. 30, 2021		27,567,000
Ending balance at Sep. 30, 2021	1,463,746	$ 276	206,770	1,271,596	(14,896)
Beginning balance (in shares) at Jun. 30, 2021		27,663,000
Beginning balance at Jun. 30, 2021	1,418,987	$ 277	208,763	1,223,339	(13,392)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)		1,000
Stock-based compensation	6,288		6,288
Shares issued upon vesting (in shares)		36,000
Shares issued upon vesting	914		914
Shares withheld for taxes	(9,195)		(9,195)
Repurchases of common stock (in shares)		(133,000)
Repurchases of common stock (Note 8)	(53,807)	$ (1)		(53,806)
Net income	102,063			102,063
Total other comprehensive (loss) income	(1,504)				(1,504)
Ending balance (in shares) at Sep. 30, 2021		27,567,000
Ending balance at Sep. 30, 2021	1,463,746	$ 276	206,770	1,271,596	(14,896)
Beginning balance (in shares) at Mar. 31, 2022		26,982,000
Beginning balance at Mar. 31, 2022	1,538,825	$ 270	210,825	1,352,685	(24,955)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)		1,000
Stock-based compensation	3,735		3,735
Shares withheld for taxes	(43)		(43)
Repurchases of common stock (in shares)		(384,000)
Repurchases of common stock (Note 8)	(99,993)	$ (4)		(99,989)
Net income	44,849			44,849
Total other comprehensive (loss) income	(14,966)				(14,966)
Ending balance (in shares) at Jun. 30, 2022		26,599,000
Ending balance at Jun. 30, 2022	1,472,407	$ 266	214,517	1,297,545	(39,921)
Beginning balance (in shares) at Mar. 31, 2022		26,982,000
Beginning balance at Mar. 31, 2022	$ 1,538,825	$ 270	210,825	1,352,685	(24,955)
Increase (Decrease) in Stockholders' Equity
Repurchases of common stock (in shares)	(557,675)
Repurchases of common stock (Note 8)	$ (150,240)
Net income	146,373
Total other comprehensive (loss) income	(27,407)
Ending balance (in shares) at Sep. 30, 2022		26,481,000
Ending balance at Sep. 30, 2022	1,515,839	$ 265	219,113	1,348,823	(52,362)
Beginning balance (in shares) at Jun. 30, 2022		26,599,000
Beginning balance at Jun. 30, 2022	1,472,407	$ 266	214,517	1,297,545	(39,921)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)		1,000
Stock-based compensation	6,779		6,779
Shares issued upon vesting (in shares)		27,000
Shares issued upon vesting	1,046		1,046
Exercise of stock options (in shares)		27,000
Exercise of stock options	1,830		1,830
Shares withheld for taxes	(5,059)		(5,059)
Repurchases of common stock (in shares)		(173,000)
Repurchases of common stock (Note 8)	(50,247)	$ (1)		(50,246)
Net income	101,524			101,524
Total other comprehensive (loss) income	(12,441)				(12,441)
Ending balance (in shares) at Sep. 30, 2022		26,481,000
Ending balance at Sep. 30, 2022	$ 1,515,839	$ 265	$ 219,113	$ 1,348,823	$ (52,362)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
OPERATING ACTIVITIES
Net income	$ 146,373	$ 150,187
Reconciliation of net income to net cash (used in) provided by operating activities:
Depreciation, amortization, and accretion	23,018	19,931
Amortization on cloud computing arrangements	1,001	767
Bad debt expense (benefit)	4,444	(10)
Deferred tax expense (benefit)	788	(3,239)
Stock-based compensation	10,550	11,792
Loss on disposal of long-lived assets	24	23
Impairment of operating lease and other long-lived assets	1,068	0
Changes in operating assets and liabilities:
Trade accounts receivable, net	(136,430)	(154,633)
Inventories	(418,247)	(358,028)
Prepaid expenses and other current assets	(22,791)	(10,942)
Income tax receivable	(6,134)	(7,505)
Net operating lease assets and lease liabilities	(4,057)	5,947
Other assets	2,308	(28,387)
Trade accounts payable	157,155	256,028
Other accrued expenses	(14,688)	(37,673)
Income tax payable	26,915	(19,729)
Other long-term liabilities	(8,143)	2,797
Net cash used in operating activities	(236,846)	(172,674)
INVESTING ACTIVITIES
Purchases of property and equipment	(24,254)	(26,719)
Net cash used in investing activities	(24,254)	(26,719)
FINANCING ACTIVITIES
Proceeds from issuance of stock	1,046	914
Proceeds from exercise of stock options	1,830	69
Repurchases of common stock	(150,240)	(135,973)
Cash paid for shares withheld for taxes	(5,102)	(9,280)
Net cash used in financing activities	(152,466)	(144,270)
Effect of foreign currency exchange rates on cash and cash equivalents	(10,702)	513
Net change in cash and cash equivalents	(424,268)	(343,150)
Cash and cash equivalents at beginning of period	843,527	1,089,361
Cash and cash equivalents at end of period	419,259	746,211
Cash paid during the period
Income taxes, net of refunds of $1,124 and $71, as of September 30, 2022, and 2021, respectively	29,242	74,312
Interest	901	936
Operating leases	17,589	28,470
Non-cash investing activities
Change in accounts payable and other accrued expenses for purchases of property and equipment	(2,516)	5,959
Accrued for asset retirement obligation assets related to leasehold improvements	803	3,505
Leasehold improvements acquired through tenant allowances	$ 0	$ 4,061

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of Cash Flows [Abstract]
Income tax refunds	$ 1,124	$ 71

General

General	6 Months Ended
General	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General The Company. Deckers Outdoor Corporation and its wholly owned subsidiaries (collectively, the Company) is a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories developed for both everyday casual lifestyle use and high-performance activities. As part of its omni-channel platform, the Company's proprietary brands are aligned across its Fashion Lifestyle group, including the UGG and Koolaburra brands, and Performance Lifestyle group, including the HOKA, Teva, and Sanuk brands. The Company sells its products through domestic and international retailers, international distributors, and directly to its global consumers through its DTC business, which is comprised of its retail stores and e‑commerce websites. Independent third-party contractors manufacture all of the Company's products. A significant part of the UGG brand business has historically been seasonal, requiring the Company to build inventory levels during certain quarters in its fiscal year to support higher selling seasons, which has contributed to the variation in its results from quarter to quarter. However, as the Company continues to take steps to diversify and expand its product offerings by creating more year-round styles, and as net sales of the HOKA brand continue to increase as a percentage of our aggregate net sales, the Company expects the impact from seasonality to continue to decrease over time. Basis of Presentation. The unaudited condensed consolidated financial statements and accompanying notes thereto (referred to herein as condensed consolidated financial statements) as of September 30, 2022 and for the three and six months ended September 30, 2022 and 2021 (the prior period) are prepared in accordance with generally accepted accounting principles in the US (US GAAP) for interim financial information pursuant to Rule 10-01 of Regulation S-X issued by the SEC. Accordingly, the condensed consolidated financial statements do not include all the information and disclosures required by US GAAP for annual financial statements and accompanying notes thereto. The condensed consolidated balance sheet as of March 31, 2022, is derived from the Company's audited consolidated financial statements. In the opinion of management, the condensed consolidated financial statements include all normal and recurring entries necessary to fairly present the results of the interim periods presented but are not necessarily indicative of actual results to be achieved for full fiscal years or other interim periods. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, which was filed with the SEC on May 27, 2022 (2022 Annual Report). Consolidation. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates. The preparation of the Company's condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the amounts reported. Management bases these estimates and assumptions upon historical experience, existing and known circumstances, authoritative accounting pronouncements, and other factors that management believes to be reasonable. In addition, the Company has considered the potential impact of the pandemic, as well as certain macroeconomic factors, including inflation, rising interest rates, and recessionary pressures, on its business and operations. Although the full impact of these factors is unknown and cannot be reasonably estimated, the Company believes it has made appropriate accounting estimates and assumptions based on the facts and circumstances available as of the reporting date. However, actual results could differ materially from these estimates and assumptions, which may result in material effects on the Company's financial condition, results of operations, and liquidity. To the extent there are differences between these estimates and actual results, the Company's condensed consolidated financial statements may be materially affected. Significant areas requiring the use of management estimates and assumptions relate to inventory write-downs; trade accounts receivable allowances, including variable consideration for net sales provided to customers; contract assets and liabilities; stock-based compensation; impairment assessments, including for goodwill, other intangible assets, and long-lived assets; depreciation and amortization; income tax receivables and liabilities; uncertain tax positions; the fair value of financial instruments; the reasonably certain lease term; lease classification; and the Company's incremental borrowing rate utilized to measure its operating lease assets and lease liabilities. Reportable Operating Segments. The Company's six reportable operating segments include the worldwide wholesale operations for each of the UGG brand, HOKA brand, Teva brand, Sanuk brand, and Other brands, as well as DTC (collectively, the Company's reportable operating segments). Refer to Note 10, “Reportable Operating Segments,” for further information on the Company's reportable operating segments. Impairment of Operating Lease and Other Long-Lived Assets . During the six months ended September 30, 2022, the Company recorded impairment charges of $1,068, within its DTC reportable operating segment in selling, general, and administrative (SG&A) expenses in the condensed consolidated statements of comprehensive income for retail store related operating lease assets and leasehold improvements (asset group). These impairment charges were due to underperformance of certain retail stores that resulted in the carrying value exceeding the estimated fair value of the asset group, which is determined based on an estimate of the discounted future cash flows for the asset group. For the six months ended September 30, 2021, the Company recorded no impairment charges on operating lease and other long-lived assets. Recent Accounting Pronouncements. The Financial Accounting Standards Board has issued Accounting Standard Updates (ASU) that have not yet been adopted by the Company for its annual and interim reporting periods, as stated below. Not Yet Adopted. The following is a summary of each ASU issued that is applicable to and has not yet been adopted, as well as the planned period of adoption, and the expected impact on the Company upon its adoption: Standard Description Planned Period of Adoption Expected Impact Upon Adoption ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (as amended by ASU 2021-01) London Interbank Offered Rate (LIBOR) is a benchmark interest rate referenced in a variety of agreements that are used by all types of entities. At the end of calendar year 2021, banks will no longer be required to report information that is used to determine LIBOR. As a result, LIBOR could be discontinued. Other interest rates used globally could also be discontinued for similar reasons. This ASU provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. Guidance is limited for adoption through December 31, 2022. Q3 FY 2023 The Company has evaluated the impact of the adoption of this ASU on its revolving credit facilities, lease agreements, and cash flow hedges; however, the Company does not expect that the adoption will have a material impact on its condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue is recognized when a performance obligation is completed at a point in time and when the customer has obtained control. Control passes to the customer when they have the ability to direct the use of, and obtain substantially all the remaining benefits from, the goods transferred. The amount of revenue recognized is based on the transaction price, which represents the invoiced amount less known actual amounts or estimates of variable consideration. Variable Consideration. Components of variable consideration include estimated sales discounts, markdowns or chargebacks, and sales returns. Estimates for variable consideration are based on the amounts earned or estimates to be claimed as an adjustment to sales. Estimated variable consideration is included in the transaction price to the extent it is probable that a significant reversal of the cumulative revenue recognized will not occur in a future period. The Company's customer contracts do not have a significant financing component due to their short durations, which are typically effective for one year or less and have payment terms that are generally 30 to 60 days. Sales Return Asset and Liability. Reserves are recorded for anticipated future returns of goods shipped prior to the end of the reporting period. In general, the Company accepts returns for damaged or defective products for up to one year. The Company also has a policy whereby returns are generally accepted from customers and end consumers between 30 to 90 days from the point of sale for cash or credit. The amounts of these reserves are determined based on several factors, including known and actual historical returns and any recent events that could result in a change from historical return rates. Sales returns are a refund asset for the right to recover the inventory and a refund liability for the stand-ready right of return. Changes to the refund liability are recorded against gross sales and changes to the refund asset for the right to recover the inventory are recorded against cost of sales in the condensed consolidated statements of comprehensive income. The refund liability is recorded in other accrued expenses and the related asset for the right to recover the inventory is recorded in other current assets in the condensed consolidated balance sheets. Activity during the six months ended September 30, 2022, related to estimated sales returns were as follows: Recovery Asset Refund Liability Balance, March 31, 2022 $ 11,491 $ (39,867) Net additions to sales return liability* 26,444 (84,336) Actual returns (24,378) 82,497 Balance, September 30, 2022 $ 13,557 $ (41,706) Activity during the six months ended September 30, 2021, related to estimated sales returns were as follows: Recovery Asset Refund Liability Balance, March 31, 2021 $ 10,704 $ (37,717) Net additions to sales return liability* 11,861 (46,731) Actual returns (14,348) 58,532 Balance, September 30, 2021 $ 8,217 $ (25,916) * Net additions to the sales return liability include a provision for anticipated sales returns, which consists of both contractual return rights and discretionary authorized returns. Contract Liabilities. Contract liabilities are performance obligations that the Company expects to satisfy or relieve within the next 12 months, advance consideration obtained prior to satisfying a performance obligation, or unconditional obligations to provide goods or services under non-cancelable contracts before the transfer of goods or services to the customer has occurred. Contract liabilities are recorded in other accrued expenses in the condensed consolidated balance sheets. Loyalty Programs . The Company has a loyalty program for the UGG brand in its DTC channel where consumers can earn rewards from qualifying purchases or activities. The Company defers recognition of revenue for unredeemed awards until one of the following occurs: (1) rewards are redeemed by the consumer, (2) points or certificates expire, or (3) an estimate of the expected unused portion of points or certificates is applied, which is based on historical redemption patterns. The Company’s contract liability for loyalty programs is recorded in other accrued expenses in the condensed consolidated balance sheets. Activity during the six months ended September 30, 2022, related to loyalty programs were as follows: Amounts Balance, March 31, 2022 $ (10,883) Redemptions and expirations for loyalty certificates and points recognized in net sales 9,585 Deferred revenue for loyalty points and certificates issued (10,106) Balance, September 30, 2022 $ (11,404) Activity during the six months ended September 30, 2021, related to loyalty programs were as follows: Amounts Balance, March 31, 2021 $ (12,231) Redemptions and expirations for loyalty certificates and points recognized in net sales 11,752 Deferred revenue for loyalty points and certificates issued (10,901) Balance, September 30, 2021 $ (11,380) Deferred Revenue . Revenue is deferred for wholesale channel transactions when certain conditions outlined within the contract terms, including the transfer of control or delivery of product, has not occurred, such as when a wholesale channel customer prepays for ordered product. The contract liability for deferred revenue is recorded in other accrued expenses in the condensed consolidated balance sheets. Activity during the six months ended September 30, 2022, related to deferred revenue were as follows: Amounts Balance, March 31, 2022 $ (15,804) Additions of customer cash payments (31,503) Revenue recognized 28,589 Balance, September 30, 2022 $ (18,718) Activity during the six months ended September 30, 2021, related to deferred revenue were as follows: Amounts Balance, March 31, 2021 $ (5,425) Additions of customer cash payments (32,007) Revenue recognized 16,098 Balance, September 30, 2021 $ (21,334) Refer to Note 10, “Reportable Operating Segments,” for further information on the Company's disaggregation of revenue by reportable operating segment.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The accounting standard for fair value measurements provides a framework for measuring fair value, which is defined as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy under this accounting standard requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required: • Level 1: Quoted prices in active markets for identical assets and liabilities. • Level 2: Observable inputs other than quoted prices in active markets for identical assets and liabilities. • Level 3: Unobservable inputs in which little or no market activity exists, therefore requiring the Company to develop its own assumptions. The carrying amount of the Company’s financial instruments, which principally include cash and cash equivalents, trade accounts receivable, net, trade accounts payable, accrued payroll, and other accrued expenses, approximates fair value due to their short-term nature. When the Company makes short-term borrowings, the carrying amounts, which are considered Level 2 liabilities, approximates fair value based upon current rates and terms available to the Company for similar debt. The Company does not currently have any Level 3 assets or liabilities. Assets and liabilities that are measured on a recurring basis at fair value in the condensed consolidated balance sheets are as follows: As of Measured Using September 30, 2022 Level 1 Level 2 Level 3 Money-market funds $ 241,926 $ 241,926 $ — $ — Non-qualified deferred compensation asset 7,179 7,179 — — Non-qualified deferred compensation liability (9,716) (9,716) — — Designated Derivative Contracts asset 2,436 — 2,436 — Non-Designated Derivative Contracts asset 1,916 — 1,916 — As of Measured Using March 31, 2022 Level 1 Level 2 Level 3 Money-market funds $ 524,063 $ 524,063 $ — $ — Non-qualified deferred compensation asset 8,933 8,933 — — Non-qualified deferred compensation liability (9,573) (9,573) — — The carrying value of money-market funds approximates the fair value as it is considered a highly liquid investment with an original maturity of three months or less when purchased. Money-market funds are recorded in cash and cash equivalents in the condensed consolidated balance sheets. The Company sponsors an unfunded, non-qualified deferred compensation plan (NQDC Plan) that permits certain members of its management team the opportunity to defer compensation into the NQDC Plan. A rabbi trust was established as a reserve for benefits payable under the NQDC Plan, with the assets invested in Company-owned life insurance policies. Deferred compensation is recognized based on the fair value of the participants' accounts. As of September 30, 2022, the non-qualified deferred compensation asset of $7,179 is recorded in other assets in the condensed consolidated balance sheets. As of September 30, 2022, the non-qualified deferred compensation liability of $9,716 is recorded in the condensed consolidated balance sheets, with $737 in other accrued expenses and $8,979 in other long-term liabilities. As of March 31, 2022, the non-qualified deferred compensation asset of $8,933 is recorded in other assets in the condensed consolidated balance sheets. Further, the non-qualified deferred compensation liability of $9,573 is recorded in the condensed consolidated balance sheets, with $936 in other accrued expenses and $8,637 in other long-term liabilities. The fair value of foreign currency forward or option contracts are determined using quoted forward spot rates at the end of the applicable reporting period from counterparties, which are corroborated by market-based pricing (Level 2). The fair values of assets and liabilities associated with derivative instruments and hedging activities are recorded in other current assets and other accrued expenses, respectively, in the condensed consolidated balance sheets. Refer to Note 7, “Derivative Instruments,” for further information, including definitions of the terms Designated Derivative Contracts and Non-Designated Derivative Contracts. The Company's non-financial assets, such as other long-lived assets and definite-lived intangible assets, which include operating lease assets, machinery and equipment, leasehold improvements, and definite-lived trademarks; as well as indefinite-lived intangible assets and goodwill, are not required to be carried at fair value on a recurring basis and are reported at carrying value. Instead, these assets are tested for impairment annually, or when an event occurs or changes in circumstances indicate the carrying value may not be recoverable. When determining fair value, Level 3 measurements are used for the estimates and assumptions, including undiscounted future cash flows expected to be generated by the asset groups based upon historical experience, expected market conditions, as well and management's plans.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense and the effective income tax rate were as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Income tax expense $ 27,394 $ 25,617 $ 39,547 $ 39,144 Effective income tax rate 21.2 % 20.1 % 21.3 % 20.7 % The tax provisions during the three and six months ended September 30, 2022, and 2021 were computed using the estimated effective income tax rate applicable to each of the domestic and foreign taxable jurisdictions for the fiscal years ending March 31, 2023 (current fiscal year), and March 31, 2022, respectively, and were adjusted for discrete items that occurred within the periods presented above. During the three months ended September 30, 2022, the net increase in the effective income tax rate, compared to the prior period, was primarily due to changes in jurisdictional mix of worldwide income before income taxes as well as reduced net discrete tax benefits, primarily due to deductions for stock-based compensation.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases. The Company primarily leases retail stores, showrooms, offices, and distribution facilities under operating lease contracts. Some of the Company's operating leases contain extension options between one Supplemental information for amounts presented in the condensed consolidated statements of cash flows related to operating leases, was as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 7,002 $ 12,930 $ 13,209 $ 26,294 Reductions to operating lease assets for reductions to lease liabilities* (132) (243) (408) (624) *Amounts disclosed include non-cash additions or reductions resulting from lease remeasurements. Operating lease liabilities recorded in the condensed consolidated balance sheets exclude an aggregate of $58,313 of undiscounted minimum lease payments due pursuant to leases signed but not yet commenced. These leases are primarily for the following: • additional space for the Company's US warehouse and DC in Mooresville, Indiana with an initial lease term of ten years, which the Company expects to be operational in the third quarter of its fiscal year ending March 31, 2024 (next fiscal year); • a new international UGG brand flagship retail store in Munich, Germany with an initial term of five years, which the Company expects to be opened in the first quarter of its next fiscal year; and, • a new HOKA brand retail store in New York City with an initial lease term of five years, which the Company expects to be opened in the second quarter of its next fiscal year. Litigation. From time to time, the Company is involved in various legal proceedings, disputes, and other claims arising in the ordinary course of business, including employment, intellectual property, and product liability claims. Although the results of these matters cannot be predicted with certainty, the Company currently believes that the final outcome of these ordinary course matters will not, individually or in the aggregate, have a material adverse effect on its business, results of operations, financial condition, or cash flows. However, regardless of the outcome, these ordinary course matters can have an adverse impact on the Company because of legal costs, diversion of management time and resources, and other factors.
Commitments and Contingencies	Commitments and Contingencies Leases. The Company primarily leases retail stores, showrooms, offices, and distribution facilities under operating lease contracts. Some of the Company's operating leases contain extension options between one Supplemental information for amounts presented in the condensed consolidated statements of cash flows related to operating leases, was as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 7,002 $ 12,930 $ 13,209 $ 26,294 Reductions to operating lease assets for reductions to lease liabilities* (132) (243) (408) (624) *Amounts disclosed include non-cash additions or reductions resulting from lease remeasurements. Operating lease liabilities recorded in the condensed consolidated balance sheets exclude an aggregate of $58,313 of undiscounted minimum lease payments due pursuant to leases signed but not yet commenced. These leases are primarily for the following: • additional space for the Company's US warehouse and DC in Mooresville, Indiana with an initial lease term of ten years, which the Company expects to be operational in the third quarter of its fiscal year ending March 31, 2024 (next fiscal year); • a new international UGG brand flagship retail store in Munich, Germany with an initial term of five years, which the Company expects to be opened in the first quarter of its next fiscal year; and, • a new HOKA brand retail store in New York City with an initial lease term of five years, which the Company expects to be opened in the second quarter of its next fiscal year. Litigation. From time to time, the Company is involved in various legal proceedings, disputes, and other claims arising in the ordinary course of business, including employment, intellectual property, and product liability claims. Although the results of these matters cannot be predicted with certainty, the Company currently believes that the final outcome of these ordinary course matters will not, individually or in the aggregate, have a material adverse effect on its business, results of operations, financial condition, or cash flows. However, regardless of the outcome, these ordinary course matters can have an adverse impact on the Company because of legal costs, diversion of management time and resources, and other factors.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation From time to time, the Company grants various types of stock-based compensation under the 2015 Stock Incentive Plan (2015 SIP), including time-based restricted stock units (RSUs), performance-based restricted stock units (PSUs), and long-term incentive plan PSUs (LTIP PSUs), to key personnel, including employees and directors. During the six months ended September 30, 2022, no additional awards were granted under the 2015 SIP, with the exception of the RSUs and LTIP PSUs awards summarized below. Refer to Note 8, “Stock-Based Compensation,” of our consolidated financial statements in Part IV of our 2022 Annual Report for further information on previously granted awards under the 2015 SIP. Annual Awards. The Company granted the following awards under the 2015 SIP during the periods presented, which are recorded in the condensed consolidated statements of comprehensive income: Six Months Ended September 30, 2022 2021 Shares Granted Weighted-average grant date fair value per share Shares Granted Weighted-average grant date fair value per share RSUs 47,545 $ 334.74 37,764 $ 386.69 RSUs are subject to time-based vesting criteria and typically vest in equal annual installments over three years following the date of grant. PSUs are typically earned based on the achievement of pre-established Company performance criteria measured over the fiscal year during which they are granted, and, to the extent the performance criteria are met, vest in equal annual installments over three years thereafter. Stock-based compensation is recorded net of estimated forfeitures in SG&A expenses in the condensed consolidated statements of comprehensive income. Future unrecognized stock-based compensation for annual awards, including RSUs and PSUs outstanding as of September 30, 2022, was $22,098. Long-Term Incentive Plan Awards. During the six months ended September 30, 2022, the Company approved awards under the 2015 SIP for the issuance of PSUs (2023 LTIP PSUs), which were awarded to certain members of the Company's management team, including the Company's named executive officers and vice presidents. The 2023 LTIP PSUs are subject to vesting based on service conditions over either two three The Company granted awards of 32,735 2023 LTIP PSUs at the target performance level during the six months ended September 30, 2022. The weighted-average grant date fair value per share of these 2023 LTIP PSUs was $387.44. Based on the Company's current long-range forecast, the Company determined that the achievement of at least the minimum threshold target performance criteria was probable as of September 30, 2022. Future unrecognized stock-based compensation for the current performance attainment level of all LTIP PSUs outstanding as of September 30, 2022, including the 2023 LTIP PSUs discussed above, the 2022 LTIP PSUs, and the 2021 LTIP PSUs, is $21,556.

Derivative Instruments

Derivative Instruments	6 Months Ended
Derivative Instruments	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company enters into foreign currency forward or option contracts (derivative contracts), generally with maturities of 15 months or less, to manage foreign currency risk and certain of these derivative contracts are designated as cash flow hedges of forecasted sales (Designated Derivative Contracts). The Company may also enter into derivative contracts that are not designated as cash flow hedges (Non-Designated Derivative Contracts), to offset a portion of anticipated gains and losses on certain intercompany balances until the expected time of repayment. The Company does not use derivative contracts for trading purposes. The after-tax unrealized gains or losses from changes in fair value of Designated Derivative Contracts are recorded as a component of accumulated other comprehensive loss (AOCL) and are reclassified to net sales in the condensed consolidated statements of comprehensive income in the same period or periods as the related sales are recognized. When it is probable that a forecasted transaction will not occur, the Company discontinues hedge accounting and the accumulated gains or losses in AOCL related to the hedging relationship are immediately recorded in other comprehensive income (OCI) in the condensed consolidated statements of comprehensive income. The Company includes all hedge components in its assessment of effectiveness for its derivative contracts. Changes in the fair value of Non-Designated Derivative Contracts are recorded in SG&A expenses in the condensed consolidated statements of comprehensive income. The changes in fair value for these contracts are generally offset by the remeasurement gains or losses associated with the underlying foreign currency-denominated intercompany balances, which are recorded in SG&A expenses in the condensed consolidated statements of comprehensive income. As of September 30, 2022, the Company has the following derivative contracts recorded at fair value in the condensed consolidated balance sheets: Designated Non-Designated Derivative Contracts Total Notional value $ 26,713 $ 31,044 $ 57,757 Fair value recorded in other current assets 2,436 1,916 4,352 As of September 30, 2022, the Company's outstanding derivative contracts are held by an aggregate of three counterparties, all with various maturity dates within the next six months. As of March 31, 2022, the Company has no outstanding derivative contracts. The following table summarizes the effect of Designated Derivative Contracts and the related income tax effects of unrealized gains or losses recorded in the condensed consolidated statements of comprehensive income for changes in AOCL: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Gain recorded in Other comprehensive income $ 1,805 $ 2,125 $ 2,805 $ 4,049 Reclassifications from Accumulated other comprehensive loss into net sales (369) (762) (369) (762) Income tax expense in Other comprehensive income (348) (330) (590) (796) Total $ 1,088 $ 1,033 $ 1,846 $ 2,491 The following table summarizes the effect of Non-Designated Derivative Contracts recorded in the condensed consolidated statements of comprehensive income: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Gain recorded in SG&A expenses $ 1,836 $ 413 $ 1,916 $ 748 The non-performance risk of the Company and the counterparties did not have a material impact on the fair value of its derivative contracts. As of September 30, 2022, the amount of unrealized gains on derivative contracts recorded in AOCL is expected to be reclassified into net sales within the next six months. Refer to Note 8, “Stockholders' Equity,” for further information on the components of AOCL.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Stock Repurchase Program. The Company's Board of Directors has approved various authorizations under the Company's stock repurchase program to repurchase shares of its common stock, including a July 27, 2022 approval to increase its stock repurchase authorization by $1,200,000, (collectively, the stock repurchase program). The stock repurchase program does not obligate the Company to acquire any amount of common stock and may be suspended at any time at the Company's discretion. As of September 30, 2022, the aggregate remaining approved amount under the stock repurchase program is $1,503,767. Stock repurchase activity under the Company's stock repurchase program during the six months ended September 30, 2022, was as follows: Amounts Total number of shares repurchased* 557,675 Weighted average price paid per share $ 269.41 Dollar value of shares repurchased** $ 150,240 All share repurchases were made pursuant to our publicly announced stock repurchase program in open-market transactions. * May not calculate on rounded dollars. Subsequent to September 30, 2022, through October 13, 2022, the Company repurchased 15,002 shares at a weighted average price of $333.21 per share for $4,999 and had $1,498,768 remaining authorized under the stock repurchase program. Accumulated Other Comprehensive Loss. The components within AOCL, net of tax, recorded in the condensed consolidated balance sheets are as follows: September 30, 2022 March 31, 2022 Unrealized gain on cash flow hedges $ 1,846 $ — Cumulative foreign currency translation loss (54,208) (24,955) Total $ (52,362) $ (24,955)

Basic and Diluted Shares

Basic and Diluted Shares	6 Months Ended
Basic and Diluted Shares	Sep. 30, 2022
Earnings Per Share [Abstract]
Basic and Diluted Shares	Basic and Diluted Shares The reconciliation of basic to diluted weighted-average common shares outstanding was as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Basic 26,517,000 27,651,000 26,646,000 27,731,000 Dilutive effect of equity awards 165,000 245,000 169,000 247,000 Diluted 26,682,000 27,896,000 26,815,000 27,978,000 Excluded RSUs and PSUs 45,000 2,000 47,000 10,000 LTIP PSUs 115,000 145,000 115,000 145,000 Deferred Non-Employee Director Equity Awards 2,000 — 2,000 —

Reportable Operating Segments

Reportable Operating Segments	6 Months Ended
Reportable Operating Segments	Sep. 30, 2022
Segment Reporting [Abstract]
Reportable Operating Segments	Reportable Operating Segments Information reported to the Chief Operating Decision Maker (CODM), who is the Company's Chief Executive Officer (CEO), President, and Principal Executive Officer (PEO), is organized into the Company's six reportable operating segments and is consistent with how the CODM evaluates performance and allocates resources. The Company does not consider international operations to be a separate reportable operating segment, and the CODM reviews such operations in the aggregate with the reportable operating segments. Segment Net Sales and Income from Operations. The Company evaluates reportable operating segment performance primarily based on net sales and income (loss) from operations. The wholesale operations of each brand are generally managed separately because each requires different marketing, research and development, design, sourcing, and sales strategies. The income (loss) from operations of each of the reportable operating segments includes only those costs which are specifically related to each reportable operating segment, which consist primarily of cost of sales, research and development, design, sales and marketing, depreciation, amortization, and the direct costs of employees within those reportable operating segments. The Company does not allocate corporate overhead costs or non-operating income and expenses to reportable operating segments, which include unallocable overhead costs associated with the Company's warehouses and DC's, certain executive and stock-based compensation, accounting, finance, legal, information technology (IT), human resources, and facilities, among others. Inter-segment sales from the Company’s wholesale reportable operating segments to the DTC reportable operating segment are at the Company’s cost, and there is no inter-segment profit on these inter-segment sales, nor are they reflected in income (loss) from operations of the wholesale reportable operating segments as these transactions are eliminated in consolidation. Reportable operating segment information, with a reconciliation to the condensed consolidated statements of comprehensive income, was as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Net sales UGG brand wholesale $ 361,305 $ 348,776 $ 499,167 $ 483,832 HOKA brand wholesale 223,035 146,980 454,920 298,127 Teva brand wholesale 19,587 19,211 66,482 62,570 Sanuk brand wholesale 5,060 7,020 15,786 17,402 Other brands wholesale 27,559 23,253 29,552 27,559 Direct-to-Consumer 239,068 176,662 424,168 337,090 Total $ 875,614 $ 721,902 $ 1,490,075 $ 1,226,580 Income (loss) from operations UGG brand wholesale $ 112,083 $ 121,701 $ 142,748 $ 157,539 HOKA brand wholesale 63,576 43,294 133,192 89,657 Teva brand wholesale 2,737 4,908 15,230 19,411 Sanuk brand wholesale 350 1,523 2,816 4,927 Other brands wholesale 5,837 8,158 5,368 10,865 Direct-to-Consumer 59,936 38,734 101,156 78,417 Unallocated overhead costs (116,688) (90,137) (216,338) (170,803) Total $ 127,831 $ 128,181 $ 184,172 $ 190,013 Segment Assets. Assets allocated to each reportable operating segment include trade accounts receivable, net; inventories; property and equipment, net; operating lease assets, goodwill, other intangible assets, net; and certain other assets that are specifically identifiable for one of the Company's reportable operating segments. Unallocated assets are those assets not directly related to a specific reportable operating segment and generally include cash and cash equivalents, deferred tax assets, net; and various other corporate assets shared by the Company's reportable operating segments. Assets allocated to each reportable operating segment, with a reconciliation to the condensed consolidated balance sheets, are as follows: September 30, 2022 March 31, 2022 Assets UGG brand wholesale $ 789,998 $ 382,837 HOKA brand wholesale 410,616 293,025 Teva brand wholesale 65,338 91,140 Sanuk brand wholesale 40,917 40,766 Other brands wholesale 70,671 32,429 Direct-to-Consumer 201,538 191,193 Total assets from reportable operating segments 1,579,078 1,031,390 Unallocated cash and cash equivalents 419,259 843,527 Unallocated deferred tax assets, net 60,410 64,217 Unallocated other corporate assets 407,602 393,116 Total $ 2,466,349 $ 2,332,250

Concentration of Business

Concentration of Business	6 Months Ended
Concentration of Business	Sep. 30, 2022
Risks and Uncertainties [Abstract]
Concentration of Business	Concentration of Business Regions and Customers. The Company sells its products globally to customers and end consumers in various countries, with net sales concentrations as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 International net sales $ 257,905 $ 207,267 $ 487,851 $ 375,886 % of net sales 29.5 % 28.7 % 32.7 % 30.6 % Net sales in foreign currencies $ 193,130 $ 158,548 $ 302,071 $ 247,981 % of net sales 22.1 % 22.0 % 20.3 % 20.2 % Ten largest global customers as % of net sales 40.1 % 35.5 % 30.1 % 31.6 % For the three and six months ended September 30, 2022, and 2021, no single foreign country comprised 10.0% or more of the Company's total net sales. For the three months ended September 30, 2022, one single global customer accounted for 10.0% or more of the Company's net sales, compared to no single global customers for the three months ended September 30, 2021. For the six months ended September 30, 2022 and 2021, no single global customer accounted for 10.0% or more of the Company's net sales. As of September 30, 2022, the Company has two customers that represent 22.2% of trade accounts receivable, net, compared to one customer that represents 11.2% of trade accounts receivable, net, as of March 31, 2022. Management performs regular evaluations concerning the ability of the Company’s customers to satisfy their obligations to the Company and recognizes an allowance for doubtful accounts based on these evaluations. Suppliers. The Company's production is concentrated at a limited number of independent manufacturing factories, primarily in Asia. Sheepskin is the principal raw material for certain UGG brand products and most of the Company's sheepskin is purchased from two tanneries in China, which is sourced primarily from Australia and the United Kingdom (UK). The Company believes significant factors affecting the price of sheepskin include weather patterns, harvesting decisions, incidence of disease, the price of other commodities such as wool and leather, the demand for the Company's products and the products of its competitors, the use of substitute products or components, and global economic conditions. Long-Lived Assets. Long-lived assets, which consist of property and equipment, net, recorded in the condensed consolidated balance sheets, are as follows: September 30, 2022 March 31, 2022 United States $ 205,877 $ 208,078 Foreign* 15,431 14,371 Total $ 221,308 $ 222,449 *No single foreign country’s property and equipment, net, represents 10.0% or more of the Company’s total property and equipment, net, as of September 30, 2022, and March 31, 2022.

General (Policies)

General (Policies)	6 Months Ended
General (Policies)	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation. The unaudited condensed consolidated financial statements and accompanying notes thereto (referred to herein as condensed consolidated financial statements) as of September 30, 2022 and for the three and six months ended September 30, 2022 and 2021 (the prior period) are prepared in accordance with generally accepted accounting principles in the US (US GAAP) for interim financial information pursuant to Rule 10-01 of Regulation S-X issued by the SEC. Accordingly, the condensed consolidated financial statements do not include all the information and disclosures required by US GAAP for annual financial statements and accompanying notes thereto. The condensed consolidated balance sheet as of March 31, 2022, is derived from the Company's audited consolidated financial statements. In the opinion of management, the condensed consolidated financial statements include all normal and recurring entries necessary to fairly present the results of the interim periods presented but are not necessarily indicative of actual results to be achieved for full fiscal years or other interim periods. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, which was filed with the SEC on May 27, 2022 (2022 Annual Report).
Consolidation	Consolidation. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates. The preparation of the Company's condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the amounts reported. Management bases these estimates and assumptions upon historical experience, existing and known circumstances, authoritative accounting pronouncements, and other factors that management believes to be reasonable. In addition, the Company has considered the potential impact of the pandemic, as well as certain macroeconomic factors, including inflation, rising interest rates, and recessionary pressures, on its business and operations. Although the full impact of these factors is unknown and cannot be reasonably estimated, the Company believes it has made appropriate accounting estimates and assumptions based on the facts and circumstances available as of the reporting date. However, actual results could differ materially from these estimates and assumptions, which may result in material effects on the Company's financial condition, results of operations, and liquidity. To the extent there are differences between these estimates and actual results, the Company's condensed consolidated financial statements may be materially affected.
Reportable Operating Segments	Reportable Operating Segments. The Company's six reportable operating segments include the worldwide wholesale operations for each of the UGG brand, HOKA brand, Teva brand, Sanuk brand, and Other brands, as well as DTC (collectively, the Company's reportable operating segments). Reportable Operating SegmentsInformation reported to the Chief Operating Decision Maker (CODM), who is the Company's Chief Executive Officer (CEO), President, and Principal Executive Officer (PEO), is organized into the Company's six reportable operating segments and is consistent with how the CODM evaluates performance and allocates resources. The Company does not consider international operations to be a separate reportable operating segment, and the CODM reviews such operations in the aggregate with the reportable operating segments.Segment Net Sales and Income from Operations. The Company evaluates reportable operating segment performance primarily based on net sales and income (loss) from operations. The wholesale operations of each brand are generally managed separately because each requires different marketing, research and development, design, sourcing, and sales strategies. The income (loss) from operations of each of the reportable operating segments includes only those costs which are specifically related to each reportable operating segment, which consist primarily of cost of sales, research and development, design, sales and marketing, depreciation, amortization, and the direct costs of employees within those reportable operating segments. The Company does not allocate corporate overhead costs or non-operating income and expenses to reportable operating segments, which include unallocable overhead costs associated with the Company's warehouses and DC's, certain executive and stock-based compensation, accounting, finance, legal, information technology (IT), human resources, and facilities, among others. Inter-segment sales from the Company’s wholesale reportable operating segments to the DTC reportable operating segment are at the Company’s cost, and there is no inter-segment profit on these inter-segment sales, nor are they reflected in income (loss) from operations of the wholesale reportable operating segments as these transactions are eliminated in consolidation.Segment Assets. Assets allocated to each reportable operating segment include trade accounts receivable, net; inventories; property and equipment, net; operating lease assets, goodwill, other intangible assets, net; and certain other assets that are specifically identifiable for one of the Company's reportable operating segments. Unallocated assets are those assets not directly related to a specific reportable operating segment and generally include cash and cash equivalents, deferred tax assets, net; and various other corporate assets shared by the Company's reportable operating segments.
Impairment of Operating Lease and Other Long-Lived Assets	These impairment charges were due to underperformance of certain retail stores that resulted in the carrying value exceeding the estimated fair value of the asset group, which is determined based on an estimate of the discounted future cash flows for the asset group.
Recent Accounting Pronouncements	Recent Accounting Pronouncements. The Financial Accounting Standards Board has issued Accounting Standard Updates (ASU) that have not yet been adopted by the Company for its annual and interim reporting periods, as stated below. Not Yet Adopted. The following is a summary of each ASU issued that is applicable to and has not yet been adopted, as well as the planned period of adoption, and the expected impact on the Company upon its adoption: Standard Description Planned Period of Adoption Expected Impact Upon Adoption ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (as amended by ASU 2021-01) London Interbank Offered Rate (LIBOR) is a benchmark interest rate referenced in a variety of agreements that are used by all types of entities. At the end of calendar year 2021, banks will no longer be required to report information that is used to determine LIBOR. As a result, LIBOR could be discontinued. Other interest rates used globally could also be discontinued for similar reasons. This ASU provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. Guidance is limited for adoption through December 31, 2022. Q3 FY 2023 The Company has evaluated the impact of the adoption of this ASU on its revolving credit facilities, lease agreements, and cash flow hedges; however, the Company does not expect that the adoption will have a material impact on its condensed consolidated financial statements.
Revenue Recognition	Revenue is recognized when a performance obligation is completed at a point in time and when the customer has obtained control. Control passes to the customer when they have the ability to direct the use of, and obtain substantially all the remaining benefits from, the goods transferred. The amount of revenue recognized is based on the transaction price, which represents the invoiced amount less known actual amounts or estimates of variable consideration. Variable Consideration. Components of variable consideration include estimated sales discounts, markdowns or chargebacks, and sales returns. Estimates for variable consideration are based on the amounts earned or estimates to be claimed as an adjustment to sales. Estimated variable consideration is included in the transaction price to the extent it is probable that a significant reversal of the cumulative revenue recognized will not occur in a future period. The Company's customer contracts do not have a significant financing component due to their short durations, which are typically effective for one year or less and have payment terms that are generally 30 to 60 days. Sales Return Asset and Liability. Reserves are recorded for anticipated future returns of goods shipped prior to the end of the reporting period. In general, the Company accepts returns for damaged or defective products for up to one year. The Company also has a policy whereby returns are generally accepted from customers and end consumers between 30 to 90 days from the point of sale for cash or credit. The amounts of these reserves are determined based on several factors, including known and actual historical returns and any recent events that could result in a change from historical return rates. Sales returns are a refund asset for the right to recover the inventory and a refund liability for the stand-ready right of return. Changes to the refund liability are recorded against gross sales and changes to the refund asset for the right to recover the inventory are recorded against cost of sales in the condensed consolidated statements of comprehensive income. The refund liability is recorded in other accrued expenses and the related asset for the right to recover the inventory is recorded in other current assets in the condensed consolidated balance sheets. Contract Liabilities. Contract liabilities are performance obligations that the Company expects to satisfy or relieve within the next 12 months, advance consideration obtained prior to satisfying a performance obligation, or unconditional obligations to provide goods or services under non-cancelable contracts before the transfer of goods or services to the customer has occurred. Contract liabilities are recorded in other accrued expenses in the condensed consolidated balance sheets. Loyalty Programs . The Company has a loyalty program for the UGG brand in its DTC channel where consumers can earn rewards from qualifying purchases or activities. The Company defers recognition of revenue for unredeemed awards until one of the following occurs: (1) rewards are redeemed by the consumer, (2) points or certificates expire, or (3) an estimate of the expected unused portion of points or certificates is applied, which is based on historical redemption patterns. The Company’s contract liability for loyalty programs is recorded in other accrued expenses in the condensed consolidated balance sheets.
Fair Value Measurement	The accounting standard for fair value measurements provides a framework for measuring fair value, which is defined as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy under this accounting standard requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required: • Level 1: Quoted prices in active markets for identical assets and liabilities. • Level 2: Observable inputs other than quoted prices in active markets for identical assets and liabilities. • Level 3: Unobservable inputs in which little or no market activity exists, therefore requiring the Company to develop its own assumptions. The fair value of foreign currency forward or option contracts are determined using quoted forward spot rates at the end of the applicable reporting period from counterparties, which are corroborated by market-based pricing (Level 2). The fair values of assets and liabilities associated with derivative instruments and hedging activities are recorded in other current assets and other accrued expenses, respectively, in the condensed consolidated balance sheets. Refer to Note 7, “Derivative Instruments,” for further information, including definitions of the terms Designated Derivative Contracts and Non-Designated Derivative Contracts. The Company's non-financial assets, such as other long-lived assets and definite-lived intangible assets, which include operating lease assets, machinery and equipment, leasehold improvements, and definite-lived trademarks; as well as indefinite-lived intangible assets and goodwill, are not required to be carried at fair value on a recurring basis and are reported at carrying value. Instead, these assets are tested for impairment annually, or when an event occurs or changes in circumstances indicate the carrying value may not be recoverable. When determining fair value, Level 3 measurements are used for the estimates and assumptions, including undiscounted future cash flows expected to be generated by the asset groups based upon historical experience, expected market conditions, as well and management's plans.
Deferred Compensation	The Company sponsors an unfunded, non-qualified deferred compensation plan (NQDC Plan) that permits certain members of its management team the opportunity to defer compensation into the NQDC Plan. A rabbi trust was established as a reserve for benefits payable under the NQDC Plan, with the assets invested in Company-owned life insurance policies. Deferred compensation is recognized based on the fair value of the participants' accounts.
Share-based Compensation	From time to time, the Company grants various types of stock-based compensation under the 2015 Stock Incentive Plan (2015 SIP), including time-based restricted stock units (RSUs), performance-based restricted stock units (PSUs), and long-term incentive plan PSUs (LTIP PSUs), to key personnel, including employees and directors.RSUs are subject to time-based vesting criteria and typically vest in equal annual installments over three years following the date of grant. PSUs are typically earned based on the achievement of pre-established Company performance criteria measured over the fiscal year during which they are granted, and, to the extent the performance criteria are met, vest in equal annual installments over three years thereafter. Stock-based compensation is recorded net of estimated forfeitures in SG&A expenses in the condensed consolidated statements of comprehensive income.
Derivatives	The Company enters into foreign currency forward or option contracts (derivative contracts), generally with maturities of 15 months or less, to manage foreign currency risk and certain of these derivative contracts are designated as cash flow hedges of forecasted sales (Designated Derivative Contracts). The Company may also enter into derivative contracts that are not designated as cash flow hedges (Non-Designated Derivative Contracts), to offset a portion of anticipated gains and losses on certain intercompany balances until the expected time of repayment. The Company does not use derivative contracts for trading purposes. The after-tax unrealized gains or losses from changes in fair value of Designated Derivative Contracts are recorded as a component of accumulated other comprehensive loss (AOCL) and are reclassified to net sales in the condensed consolidated statements of comprehensive income in the same period or periods as the related sales are recognized. When it is probable that a forecasted transaction will not occur, the Company discontinues hedge accounting and the accumulated gains or losses in AOCL related to the hedging relationship are immediately recorded in other comprehensive income (OCI) in the condensed consolidated statements of comprehensive income. The Company includes all hedge components in its assessment of effectiveness for its derivative contracts. Changes in the fair value of Non-Designated Derivative Contracts are recorded in SG&A expenses in the condensed consolidated statements of comprehensive income. The changes in fair value for these contracts are generally offset by the remeasurement gains or losses associated with the underlying foreign currency-denominated intercompany balances, which are recorded in SG&A expenses in the condensed consolidated statements of comprehensive income.
Net Income Per Share	Excluded Awards. The equity awards excluded from the calculation of the dilutive effect have been excluded due to one of the following: (1) the shares were antidilutive; (2) the necessary conditions had not been satisfied for the shares to be deemed issuable based on the Company's performance for the relevant performance period; or (3) the Company recorded a net loss during the period presented (such that inclusion of these equity awards in the calculation would have been anti-dilutive). The number of shares stated for each of these excluded awards is the maximum number of shares issuable pursuant to these awards. For those awards subject to the achievement of performance criteria, the actual number of shares to be issued pursuant to such awards will be based on Company performance in future periods, net of forfeitures, and may be materially lower than the number of shares presented, which could result in a lower dilutive effect, respectively.

General (Tables)

General (Tables)	6 Months Ended
General (Tables)	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounting Pronouncements Not Yet Adopted	The following is a summary of each ASU issued that is applicable to and has not yet been adopted, as well as the planned period of adoption, and the expected impact on the Company upon its adoption: Standard Description Planned Period of Adoption Expected Impact Upon Adoption ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (as amended by ASU 2021-01) London Interbank Offered Rate (LIBOR) is a benchmark interest rate referenced in a variety of agreements that are used by all types of entities. At the end of calendar year 2021, banks will no longer be required to report information that is used to determine LIBOR. As a result, LIBOR could be discontinued. Other interest rates used globally could also be discontinued for similar reasons. This ASU provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. Guidance is limited for adoption through December 31, 2022. Q3 FY 2023 The Company has evaluated the impact of the adoption of this ASU on its revolving credit facilities, lease agreements, and cash flow hedges; however, the Company does not expect that the adoption will have a material impact on its condensed consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Activity Related to Estimated Sales Returns, Loyalty Program Activity and Deferred Revenue	Activity during the six months ended September 30, 2022, related to estimated sales returns were as follows: Recovery Asset Refund Liability Balance, March 31, 2022 $ 11,491 $ (39,867) Net additions to sales return liability* 26,444 (84,336) Actual returns (24,378) 82,497 Balance, September 30, 2022 $ 13,557 $ (41,706) Activity during the six months ended September 30, 2021, related to estimated sales returns were as follows: Recovery Asset Refund Liability Balance, March 31, 2021 $ 10,704 $ (37,717) Net additions to sales return liability* 11,861 (46,731) Actual returns (14,348) 58,532 Balance, September 30, 2021 $ 8,217 $ (25,916) * Net additions to the sales return liability include a provision for anticipated sales returns, which consists of both contractual return rights and discretionary authorized returns. Activity during the six months ended September 30, 2022, related to loyalty programs were as follows: Amounts Balance, March 31, 2022 $ (10,883) Redemptions and expirations for loyalty certificates and points recognized in net sales 9,585 Deferred revenue for loyalty points and certificates issued (10,106) Balance, September 30, 2022 $ (11,404) Activity during the six months ended September 30, 2021, related to loyalty programs were as follows: Amounts Balance, March 31, 2021 $ (12,231) Redemptions and expirations for loyalty certificates and points recognized in net sales 11,752 Deferred revenue for loyalty points and certificates issued (10,901) Balance, September 30, 2021 $ (11,380) Amounts Balance, March 31, 2022 $ (15,804) Additions of customer cash payments (31,503) Revenue recognized 28,589 Balance, September 30, 2022 $ (18,718) Activity during the six months ended September 30, 2021, related to deferred revenue were as follows: Amounts Balance, March 31, 2021 $ (5,425) Additions of customer cash payments (32,007) Revenue recognized 16,098 Balance, September 30, 2021 $ (21,334)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets and liabilities that are measured on a recurring basis at fair value in the condensed consolidated balance sheets are as follows: As of Measured Using September 30, 2022 Level 1 Level 2 Level 3 Money-market funds $ 241,926 $ 241,926 $ — $ — Non-qualified deferred compensation asset 7,179 7,179 — — Non-qualified deferred compensation liability (9,716) (9,716) — — Designated Derivative Contracts asset 2,436 — 2,436 — Non-Designated Derivative Contracts asset 1,916 — 1,916 — As of Measured Using March 31, 2022 Level 1 Level 2 Level 3 Money-market funds $ 524,063 $ 524,063 $ — $ — Non-qualified deferred compensation asset 8,933 8,933 — — Non-qualified deferred compensation liability (9,573) (9,573) — —

Income Taxes - (Tables)

Income Taxes - (Tables)	6 Months Ended
Income Taxes - (Tables)	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Income tax expense and the effective income tax rate were as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Income tax expense $ 27,394 $ 25,617 $ 39,547 $ 39,144 Effective income tax rate 21.2 % 20.1 % 21.3 % 20.7 %

Commitments and Contingencies -

Commitments and Contingencies - (Tables)	6 Months Ended
Commitments and Contingencies - (Tables)	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Supplemental Lease Information	Supplemental information for amounts presented in the condensed consolidated statements of cash flows related to operating leases, was as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 7,002 $ 12,930 $ 13,209 $ 26,294 Reductions to operating lease assets for reductions to lease liabilities* (132) (243) (408) (624) *Amounts disclosed include non-cash additions or reductions resulting from lease remeasurements.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Nonvested Stock Units Activity	The Company granted the following awards under the 2015 SIP during the periods presented, which are recorded in the condensed consolidated statements of comprehensive income: Six Months Ended September 30, 2022 2021 Shares Granted Weighted-average grant date fair value per share Shares Granted Weighted-average grant date fair value per share RSUs 47,545 $ 334.74 37,764 $ 386.69

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
Derivative Instruments (Tables)	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of September 30, 2022, the Company has the following derivative contracts recorded at fair value in the condensed consolidated balance sheets: Designated Non-Designated Derivative Contracts Total Notional value $ 26,713 $ 31,044 $ 57,757 Fair value recorded in other current assets 2,436 1,916 4,352
Schedule of Location and Amount of Gains and Losses Related to Derivatives Designated as Hedging Instruments	The following table summarizes the effect of Designated Derivative Contracts and the related income tax effects of unrealized gains or losses recorded in the condensed consolidated statements of comprehensive income for changes in AOCL: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Gain recorded in Other comprehensive income $ 1,805 $ 2,125 $ 2,805 $ 4,049 Reclassifications from Accumulated other comprehensive loss into net sales (369) (762) (369) (762) Income tax expense in Other comprehensive income (348) (330) (590) (796) Total $ 1,088 $ 1,033 $ 1,846 $ 2,491
Schedule of Location and Amount of Gains and Losses Related to Derivatives Not Designated as Hedging Instruments	The following table summarizes the effect of Non-Designated Derivative Contracts recorded in the condensed consolidated statements of comprehensive income: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Gain recorded in SG&A expenses $ 1,836 $ 413 $ 1,916 $ 748

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
Stockholders' Equity (Tables)	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of Stock Repurchases	Stock repurchase activity under the Company's stock repurchase program during the six months ended September 30, 2022, was as follows: Amounts Total number of shares repurchased* 557,675 Weighted average price paid per share $ 269.41 Dollar value of shares repurchased** $ 150,240 All share repurchases were made pursuant to our publicly announced stock repurchase program in open-market transactions. * May not calculate on rounded dollars.
Components of Accumulated Other Comprehensive Loss	The components within AOCL, net of tax, recorded in the condensed consolidated balance sheets are as follows: September 30, 2022 March 31, 2022 Unrealized gain on cash flow hedges $ 1,846 $ — Cumulative foreign currency translation loss (54,208) (24,955) Total $ (52,362) $ (24,955)

Basic and Diluted Shares (Table

Basic and Diluted Shares (Tables)	6 Months Ended
Basic and Diluted Shares (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The reconciliation of basic to diluted weighted-average common shares outstanding was as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Basic 26,517,000 27,651,000 26,646,000 27,731,000 Dilutive effect of equity awards 165,000 245,000 169,000 247,000 Diluted 26,682,000 27,896,000 26,815,000 27,978,000 Excluded RSUs and PSUs 45,000 2,000 47,000 10,000 LTIP PSUs 115,000 145,000 115,000 145,000 Deferred Non-Employee Director Equity Awards 2,000 — 2,000 —

Reportable Operating Segments (

Reportable Operating Segments (Tables)	6 Months Ended
Reportable Operating Segments (Tables)	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Business Segments Information	Reportable operating segment information, with a reconciliation to the condensed consolidated statements of comprehensive income, was as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Net sales UGG brand wholesale $ 361,305 $ 348,776 $ 499,167 $ 483,832 HOKA brand wholesale 223,035 146,980 454,920 298,127 Teva brand wholesale 19,587 19,211 66,482 62,570 Sanuk brand wholesale 5,060 7,020 15,786 17,402 Other brands wholesale 27,559 23,253 29,552 27,559 Direct-to-Consumer 239,068 176,662 424,168 337,090 Total $ 875,614 $ 721,902 $ 1,490,075 $ 1,226,580 Income (loss) from operations UGG brand wholesale $ 112,083 $ 121,701 $ 142,748 $ 157,539 HOKA brand wholesale 63,576 43,294 133,192 89,657 Teva brand wholesale 2,737 4,908 15,230 19,411 Sanuk brand wholesale 350 1,523 2,816 4,927 Other brands wholesale 5,837 8,158 5,368 10,865 Direct-to-Consumer 59,936 38,734 101,156 78,417 Unallocated overhead costs (116,688) (90,137) (216,338) (170,803) Total $ 127,831 $ 128,181 $ 184,172 $ 190,013 September 30, 2022 March 31, 2022 Assets UGG brand wholesale $ 789,998 $ 382,837 HOKA brand wholesale 410,616 293,025 Teva brand wholesale 65,338 91,140 Sanuk brand wholesale 40,917 40,766 Other brands wholesale 70,671 32,429 Direct-to-Consumer 201,538 191,193 Total assets from reportable operating segments 1,579,078 1,031,390 Unallocated cash and cash equivalents 419,259 843,527 Unallocated deferred tax assets, net 60,410 64,217 Unallocated other corporate assets 407,602 393,116 Total $ 2,466,349 $ 2,332,250

Concentration of Business (Tabl

Concentration of Business (Tables)	6 Months Ended
Concentration of Business (Tables)	Sep. 30, 2022
Risks and Uncertainties [Abstract]
Schedule of Revenue Concentration of Risk	The Company sells its products globally to customers and end consumers in various countries, with net sales concentrations as follows: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 International net sales $ 257,905 $ 207,267 $ 487,851 $ 375,886 % of net sales 29.5 % 28.7 % 32.7 % 30.6 % Net sales in foreign currencies $ 193,130 $ 158,548 $ 302,071 $ 247,981 % of net sales 22.1 % 22.0 % 20.3 % 20.2 % Ten largest global customers as % of net sales 40.1 % 35.5 % 30.1 % 31.6 %
Schedule of Long-lived Assets	Long-lived assets, which consist of property and equipment, net, recorded in the condensed consolidated balance sheets, are as follows: September 30, 2022 March 31, 2022 United States $ 205,877 $ 208,078 Foreign* 15,431 14,371 Total $ 221,308 $ 222,449 *No single foreign country’s property and equipment, net, represents 10.0% or more of the Company’s total property and equipment, net, as of September 30, 2022, and March 31, 2022.

General - Narrative (Details)

General - Narrative (Details) $ in Thousands	6 Months Ended
General - Narrative (Details) $ in Thousands	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	6
Impairment of operating lease and other long-lived assets	$ 1,068	$ 0
Direct-to-Consumer
Segment Reporting Information [Line Items]
Impairment of operating lease and other long-lived assets	$ 1,068

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Recovery Asset
Beginning balance	$ 11,491	$ 10,704
Net additions to sales return liability	26,444	11,861
Actual returns	(24,378)	(14,348)
Ending balance	13,557	8,217
Contract Liability
Beginning balance	(39,867)	(37,717)
Net additions to sales return liability	(84,336)	(46,731)
Actual returns	82,497	58,532
Ending balance	$ (41,706)	$ (25,916)

Revenue Recognition - Loyalty P

Revenue Recognition - Loyalty Programs (Details) - Loyalty Programs - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Contract with Customer, Loyalty Program [Roll Forward]
Beginning balance	$ (10,883)	$ (12,231)
Redemptions and expirations for loyalty certificates and points recognized in net sales	9,585	11,752
Deferred revenue for loyalty points and certificates issued	(10,106)	(10,901)
Ending balance	$ (11,404)	$ (11,380)

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue (Details) - Wholesale - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ (15,804)	$ (5,425)
Additions of customer cash payments	(31,503)	(32,007)
Revenue recognized	28,589	16,098
Ending balance	$ (18,718)	$ (21,334)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	$ 7,179	$ 8,933
Non-qualified deferred compensation liability	(9,716)	(9,573)
Derivative contracts asset	4,352
Money-market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market funds	241,926	524,063
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	7,179	8,933
Non-qualified deferred compensation liability	(9,716)	(9,573)
Level 1 \| Money-market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market funds	241,926	524,063
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	0	0
Non-qualified deferred compensation liability	0	0
Level 2 \| Money-market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market funds	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	0	0
Non-qualified deferred compensation liability	0	0
Level 3 \| Money-market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market funds	0	$ 0
Designated Derivative Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts asset	2,436
Designated Derivative Contracts \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts asset	0
Designated Derivative Contracts \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts asset	2,436
Designated Derivative Contracts \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts asset	0
Non-Designated Derivative Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts asset	1,916
Non-Designated Derivative Contracts \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts asset	0
Non-Designated Derivative Contracts \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts asset	1,916
Non-Designated Derivative Contracts \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts asset	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	$ 7,179	$ 8,933
Non-qualified deferred compensation liability	9,716	9,573
Other Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	7,179	8,933
Other Accrued Expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current deferred compensation liability	737	936
Other Long-Term Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncurrent deferred compensation liability	$ 8,979	$ 8,637

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 27,394	$ 25,617	$ 39,547	$ 39,144
Effective income tax rate	21.20%	20.10%	21.30%	20.70%

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Undiscounted minimum lease payments	$ 58,313
Indiana
Lessee, Lease, Description [Line Items]
Lease term not yet commenced (in years)	10 years
Germany
Lessee, Lease, Description [Line Items]
Lease term not yet commenced (in years)	5 years
New York
Lessee, Lease, Description [Line Items]
Lease term not yet commenced (in years)	5 years
Minimum
Lessee, Lease, Description [Line Items]
Operating lease renewal term (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease renewal term (in years)	15 years

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Supplemental Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease assets obtained in exchange for lease liabilities	$ 7,002	$ 12,930	$ 13,209	$ 26,294
Reductions to operating lease assets for reductions to lease liabilities	$ (132)	$ (243)	$ (408)	$ (624)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
PSUs \| Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued (in shares)	0
Award vesting period (in years)	3 years
RSUs \| Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued (in shares)	47,545	37,764
Award vesting period (in years)	3 years
Annual RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock compensation expense	$ 22,098

Stock-Based Compensation - Annu

Stock-Based Compensation - Annual Awards (Details) - RSUs - Stock Incentive Plan 2015 - $ / shares	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	47,545	37,764
Weighted-average grant date fair value (in dollars per share)	$ 334.74	$ 386.69

Stock-Based Compensation - Long

Stock-Based Compensation - Long-Term Incentive Plan Awards (Details) - LTIP PSUs $ / shares in Units, $ in Thousands	6 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock compensation expense \| $	$ 21,556
2023 \| Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period	3 years
Issued (in shares) \| shares	32,735
Weighted-average grant date fair value (in dollars per share) \| $ / shares	$ 387.44
2023 \| Stock Incentive Plan 2015 \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in months)	24 months
2023 \| Stock Incentive Plan 2015 \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in months)	24 months
2023 \| Stock Incentive Plan 2015 \| Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in months)	36 months
2023 \| Minimum \| Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	2 years
2023 \| Maximum \| Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Award vesting rights percentage	200%

Derivative Instruments (Details

Derivative Instruments (Details)	3 Months Ended		6 Months Ended
Derivative Instruments (Details)	Sep. 30, 2022 USD ($) counterparty	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) counterparty	Sep. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)
Foreign currency exchange contracts and hedging
Notional value	$ 57,757,000		$ 57,757,000		$ 0
Fair value recorded in other current assets	$ 4,352,000		$ 4,352,000
Number of counterparties in derivative contracts \| counterparty	3		3
Gain recorded in Other comprehensive income	$ 1,805,000	$ 2,125,000	$ 2,805,000	$ 4,049,000
Reclassifications from Accumulated other comprehensive loss into net sales	(369,000)	(762,000)	(369,000)	(762,000)
Income tax expense in Other comprehensive income	(348,000)	(330,000)	(590,000)	(796,000)
Unrealized gain on cash flow hedges	1,088,000	1,033,000	1,846,000	2,491,000
Gain recorded in SG&A expenses	1,836,000	$ 413,000	$ 1,916,000	$ 748,000
Foreign Exchange Forward
Foreign currency exchange contracts and hedging
Maturity of foreign currency derivatives			15 months
Foreign Exchange Option
Foreign currency exchange contracts and hedging
Maturity of foreign currency derivatives			15 months
Designated Derivative Contracts
Foreign currency exchange contracts and hedging
Notional value	26,713,000		$ 26,713,000
Fair value recorded in other current assets	2,436,000		2,436,000
Non-Designated Derivative Contracts
Foreign currency exchange contracts and hedging
Notional value	31,044,000		31,044,000
Fair value recorded in other current assets	$ 1,916,000		$ 1,916,000

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchase Programs (Details) - USD ($)			3 Months Ended				6 Months Ended
	Oct. 13, 2022	Jul. 27, 2022	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2022
Class of Stock [Line Items]
Additional authorized amount of shares to repurchase		$ 1,200,000,000
Dollar value of shares remaining for repurchase			$ 1,503,767,000				$ 1,503,767,000
Total number of shares repurchased (in shares)							557,675
Weighted average price paid per share (in dollars per share)			$ 269.41				$ 269.41
Dollar value of shares repurchased			$ 50,247,000	$ 99,993,000	$ 53,807,000	$ 82,166,000	$ 150,240,000
Subsequent Event
Class of Stock [Line Items]
Dollar value of shares remaining for repurchase	$ 1,498,768,000
Total number of shares repurchased (in shares)	15,002
Weighted average price paid per share (in dollars per share)	$ 333.21
Dollar value of shares repurchased	$ 4,999,000

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Unrealized gain on cash flow hedges	$ 1,846	$ 0
Cumulative foreign currency translation loss	(54,208)	(24,955)
Total	$ (52,362)	$ (24,955)

Basic and Diluted Shares (Detai

Basic and Diluted Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic (in shares)	26,517	27,651	26,646	27,731
Dilutive effect of equity awards (in shares)	165	245	169	247
Diluted (in shares)	26,682	27,896	26,815	27,978
RSUs and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	45	2	47	10
LTIP PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	115	145	115	145
Deferred Non-Employee Director Equity Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2	0	2	0

Reportable Operating Segments_2

Reportable Operating Segments (Details) $ in Thousands	3 Months Ended		6 Months Ended
Reportable Operating Segments (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			6
Net sales	$ 875,614	$ 721,902	$ 1,490,075	$ 1,226,580
Income (loss) from operations	127,831	128,181	184,172	190,013
Assets	2,466,349		2,466,349		$ 2,332,250
Unallocated cash and cash equivalents	419,259		419,259		843,527
Unallocated deferred tax assets, net	60,410		60,410		64,217
Reportable segments
Segment Reporting Information [Line Items]
Assets	1,579,078		1,579,078		1,031,390
Reportable segments \| UGG brand wholesale
Segment Reporting Information [Line Items]
Assets	789,998		789,998		382,837
Reportable segments \| HOKA brand wholesale
Segment Reporting Information [Line Items]
Assets	410,616		410,616		293,025
Reportable segments \| Teva brand wholesale
Segment Reporting Information [Line Items]
Assets	65,338		65,338		91,140
Reportable segments \| Sanuk brand wholesale
Segment Reporting Information [Line Items]
Assets	40,917		40,917		40,766
Reportable segments \| Other brands wholesale
Segment Reporting Information [Line Items]
Assets	70,671		70,671		32,429
Reportable segments \| Direct-to-Consumer
Segment Reporting Information [Line Items]
Assets	201,538		201,538		191,193
Segment reconciling items
Segment Reporting Information [Line Items]
Income (loss) from operations	(116,688)	(90,137)	(216,338)	(170,803)
Unallocated cash and cash equivalents	419,259		419,259		843,527
Unallocated deferred tax assets, net	60,410		60,410		64,217
Corporate
Segment Reporting Information [Line Items]
Unallocated other corporate assets	407,602		407,602		$ 393,116
Wholesale \| UGG brand wholesale
Segment Reporting Information [Line Items]
Net sales	361,305	348,776	499,167	483,832
Wholesale \| HOKA brand wholesale
Segment Reporting Information [Line Items]
Net sales	223,035	146,980	454,920	298,127
Wholesale \| Teva brand wholesale
Segment Reporting Information [Line Items]
Net sales	19,587	19,211	66,482	62,570
Wholesale \| Sanuk brand wholesale
Segment Reporting Information [Line Items]
Net sales	5,060	7,020	15,786	17,402
Wholesale \| Other brands wholesale
Segment Reporting Information [Line Items]
Net sales	27,559	23,253	29,552	27,559
Wholesale \| Reportable segments \| UGG brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	112,083	121,701	142,748	157,539
Wholesale \| Reportable segments \| HOKA brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	63,576	43,294	133,192	89,657
Wholesale \| Reportable segments \| Teva brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	2,737	4,908	15,230	19,411
Wholesale \| Reportable segments \| Sanuk brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	350	1,523	2,816	4,927
Wholesale \| Reportable segments \| Other brands wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	5,837	8,158	5,368	10,865
Direct-to-Consumer \| Direct-to-Consumer
Segment Reporting Information [Line Items]
Net sales	239,068	176,662	424,168	337,090
Direct-to-Consumer \| Reportable segments \| Direct-to-Consumer
Segment Reporting Information [Line Items]
Income (loss) from operations	$ 59,936	$ 38,734	$ 101,156	$ 78,417

Concentration of Business (Deta

Concentration of Business (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
Concentration of Business (Details) $ in Thousands	Sep. 30, 2022 USD ($) tannery	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) tannery	Sep. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)
Concentration Risk [Line Items]
Net sales	$ 875,614	$ 721,902	$ 1,490,075	$ 1,226,580
Number of tanneries \| tannery	2		2
Long-lived assets	$ 221,308		$ 221,308		$ 222,449
Sales Revenue, Net \| Customer Concentration Risk \| 10 Largest Customers
Concentration Risk [Line Items]
Concentration risk	40.10%	35.50%	30.10%	31.60%
Sales Revenue, Net \| Customer Concentration Risk \| One Customer
Concentration Risk [Line Items]
Concentration risk	10%
Trade Accounts Receivable \| Customer Concentration Risk \| One Customer
Concentration Risk [Line Items]
Concentration risk					11.20%
Trade Accounts Receivable \| Customer Concentration Risk \| Two Customers
Concentration Risk [Line Items]
Concentration risk			22.20%
Foreign
Concentration Risk [Line Items]
Long-lived assets	$ 15,431		$ 15,431		$ 14,371
Foreign \| International net sales
Concentration Risk [Line Items]
Net sales	257,905	$ 207,267	487,851	$ 375,886
Foreign \| Net sales in foreign currencies
Concentration Risk [Line Items]
Net sales	$ 193,130	$ 158,548	$ 302,071	$ 247,981
Foreign \| Sales Revenue, Net \| International net sales
Concentration Risk [Line Items]
Concentration risk	29.50%	28.70%	32.70%	30.60%
Foreign \| Sales Revenue, Net \| Net sales in foreign currencies
Concentration Risk [Line Items]
Concentration risk	22.10%	22%	20.30%	20.20%
United States
Concentration Risk [Line Items]
Long-lived assets	$ 205,877		$ 205,877		$ 208,078