Deckers Outdoor (DECK) 10-Q 6 Feb 23 2023 Q3 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	9 Months Ended
	Dec. 31, 2022	Jan. 19, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 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)		26,359,258
Entity Central Index Key	0000910521
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
ASSETS
Cash and cash equivalents	$ 1,057,843	$ 843,527
Trade accounts receivable, net of allowances ($49,295 and $30,591 as of December 31, 2022, and March 31, 2022, respectively)	326,341	302,688
Inventories	723,364	506,796
Prepaid expenses	33,832	25,610
Other current assets	97,838	55,264
Income tax receivable	4,531	18,243
Total current assets	2,243,749	1,752,128
Property and equipment, net of accumulated depreciation ($312,662 and $282,571 as of December 31, 2022, and March 31, 2022, respectively) (Note 12)	242,594	222,449
Operating lease assets	166,525	182,459
Goodwill	13,990	13,990
Other intangible assets, net of accumulated amortization ($80,288 and $79,061 as of December 31, 2022, and March 31, 2022, respectively)	38,007	39,688
Deferred tax assets, net	63,318	64,217
Other assets	41,106	57,319
Total assets	2,809,289	2,332,250
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	487,354	327,487
Accrued payroll	50,120	67,553
Operating lease liabilities	49,298	50,098
Other accrued expenses	131,950	81,400
Income tax payable	76,362	12,426
Value added tax payable	20,222	2,720
Total current liabilities	815,306	541,684
Long-term operating lease liabilities	151,107	171,972
Income tax liability	46,241	54,259
Other long-term liabilities	27,463	25,510
Total long-term liabilities	224,811	251,741
Commitments and contingencies (Note 6)
Stockholders' equity
Common stock ($0.01 par value; 125,000 shares authorized; shares issued and outstanding of 26,358 and 26,982 as of December 31, 2022, and March 31, 2022, respectively)	264	270
Additional paid-in capital	226,320	210,825
Retained earnings	1,582,864	1,352,685
Accumulated other comprehensive loss (Note 9)	(40,276)	(24,955)
Total stockholders' equity	1,769,172	1,538,825
Total liabilities and stockholders' equity	$ 2,809,289	$ 2,332,250

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances	$ 49,295	$ 30,591
Accumulated depreciation	312,662	282,571
Accumulated amortization	$ 80,288	$ 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)	26,358,000	26,982,000
Common stock, outstanding shares (in shares)	26,358,000	26,982,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 1,345,640	$ 1,187,752	$ 2,835,715	$ 2,414,332
Cost of sales	633,111	566,531	1,406,513	1,165,520
Gross profit	712,529	621,221	1,429,202	1,248,812
Selling, general, and administrative expenses	349,869	327,825	882,370	765,403
Income from operations (Note 11)	362,660	293,396	546,832	483,409
Interest income	(3,571)	(369)	(6,669)	(1,311)
Interest expense	1,155	999	3,245	2,808
Other income, net	(228)	(191)	(968)	(376)
Total other (income) expense, net	(2,644)	439	(4,392)	1,121
Income before income taxes	365,304	292,957	551,224	482,288
Income tax expense (Note 4)	86,642	60,014	126,189	99,158
Net income	278,662	232,943	425,035	383,130
Other comprehensive income (loss), net of tax
Unrealized (loss) gain on cash flow hedges	(2,083)	(1,517)	(237)	974
Foreign currency translation gain (loss)	14,169	(2,744)	(15,084)	(3,388)
Total other comprehensive income (loss), net of tax	12,086	(4,261)	(15,321)	(2,414)
Comprehensive income	$ 290,748	$ 228,682	$ 409,714	$ 380,716
Net income per share
Basic (in dollars per share)	$ 10.55	$ 8.49	$ 16	$ 13.87
Diluted (in dollars per share)	$ 10.48	$ 8.42	$ 15.90	$ 13.73
Weighted-average common shares outstanding (Note 10)
Basic (in shares)	26,418	27,428	26,570	27,630
Diluted (in shares)	26,586	27,663	26,740	27,904

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 (Note 9) (in shares)		(249,000)
Repurchases of common stock (Note 9)	(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
Repurchases of common stock (Note 9) (in shares)	(735,976)
Repurchases of common stock (Note 9)	$ (266,684)
Net income	383,130
Total other comprehensive (loss) income	(2,414)
Ending balance (in shares) at Dec. 31, 2021		27,243,000
Ending balance at Dec. 31, 2021	1,564,742	$ 272	209,795	1,373,832	(19,157)
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 (Note 9) (in shares)		(133,000)
Repurchases of common stock (Note 9)	(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)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation	6,386		6,386
Shares issued upon vesting (in shares)		2,000
Exercise of stock options (in shares)		28,000
Exercise of stock options	1,135		1,135
Shares withheld for taxes	(4,496)		(4,496)
Repurchases of common stock (Note 9) (in shares)		(354,000)
Repurchases of common stock (Note 9)	(130,711)	$ (4)		(130,707)
Net income	232,943			232,943
Total other comprehensive (loss) income	(4,261)				(4,261)
Ending balance (in shares) at Dec. 31, 2021		27,243,000
Ending balance at Dec. 31, 2021	1,564,742	$ 272	209,795	1,373,832	(19,157)
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 (Note 9) (in shares)		(384,000)
Repurchases of common stock (Note 9)	(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 (Note 9) (in shares)	(685,075)
Repurchases of common stock (Note 9)	$ (194,862)
Net income	425,035
Total other comprehensive (loss) income	(15,321)
Ending balance (in shares) at Dec. 31, 2022		26,358,000
Ending balance at Dec. 31, 2022	1,769,172	$ 264	226,320	1,582,864	(40,276)
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 (Note 9) (in shares)		(173,000)
Repurchases of common stock (Note 9)	(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)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)		1,000
Stock-based compensation	7,479		7,479
Shares issued upon vesting (in shares)		2,000
Exercise of stock options (in shares)		1,000
Exercise of stock options	40		40
Shares withheld for taxes	(312)		(312)
Repurchases of common stock (Note 9) (in shares)		(127,000)
Repurchases of common stock (Note 9)	(44,622)	$ (1)		(44,621)
Net income	278,662			278,662
Total other comprehensive (loss) income	12,086				12,086
Ending balance (in shares) at Dec. 31, 2022		26,358,000
Ending balance at Dec. 31, 2022	$ 1,769,172	$ 264	$ 226,320	$ 1,582,864	$ (40,276)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES
Net income	$ 425,035	$ 383,130
Reconciliation of net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and accretion	35,089	31,202
Amortization on cloud computing arrangements	1,572	1,154
Loss on extinguishment of debt	226	0
Bad debt expense (benefit)	3,692	(254)
Deferred tax benefit	(343)	(4,263)
Stock-based compensation	18,130	18,281
Loss on disposal of long-lived assets	18	37
Impairment of operating lease and other long-lived assets	2,085	3,186
Changes in operating assets and liabilities:
Trade accounts receivable, net	(27,345)	(118,568)
Inventories	(216,569)	(272,508)
Prepaid expenses and other current assets	(47,782)	(33,936)
Income tax receivable	13,712	(7,743)
Net operating lease assets and lease liabilities	(6,339)	2,643
Other assets	14,641	(27,331)
Trade accounts payable	161,512	246,964
Other accrued expenses	42,681	10,782
Income tax payable	63,936	(10,151)
Other long-term liabilities	(6,068)	4,745
Net cash provided by operating activities	477,883	227,370
INVESTING ACTIVITIES
Purchases of property and equipment	(56,059)	(41,315)
Proceeds from sales of property and equipment	6	0
Net cash used in investing activities	(56,053)	(41,315)
FINANCING ACTIVITIES
Loan origination costs on revolving credit facilities	(1,537)	0
Proceeds from issuance of stock	1,046	914
Proceeds from exercise of stock options	1,870	1,204
Repurchases of common stock	(194,862)	(266,684)
Cash paid for shares withheld for taxes	(5,414)	(13,776)
Net cash used in financing activities	(198,897)	(278,342)
Effect of foreign currency exchange rates on cash and cash equivalents	(8,617)	1,187
Net change in cash and cash equivalents	214,316	(91,100)
Cash and cash equivalents at beginning of period	843,527	1,089,361
Cash and cash equivalents at end of period	1,057,843	998,261
Cash paid during the period
Income taxes, net of refunds of $1,286 and $77, as of December 31, 2022, and 2021, respectively	59,418	124,651
Interest	1,415	1,399
Operating leases	45,244	43,257
Non-cash investing activities
Change in accounts payable and other accrued expenses for purchases of property and equipment	(2,696)	240
Accrued for asset retirement obligation assets related to leasehold improvements	1,051	3,702
Leasehold improvements acquired through tenant allowances	$ 0	$ 4,061

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Income tax refunds	$ 1,286	$ 77

General

General	9 Months Ended
	Dec. 31, 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 December 31, 2022, and for the three and nine months ended December 31, 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 (prior fiscal year), 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 it believes to be reasonable. In addition, the Company has considered the potential impact of the pandemic, as well as certain macroeconomic factors, including inflation, foreign currency exchange rate volatility, changes in interest rates, inflationary pressures, changes in commodity pricing, and recessionary concerns, 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 11, "Reportable Operating Segments," for further information on the Company's reportable operating segments. Impairment of Operating Lease and Other Long-Lived Assets . During the three and nine months ended December 31, 2022, the Company recorded impairment charges of $1,017 and $2,085, 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 and other long-lived assets (asset group). These impairment charges were due to the 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 three and nine months ended December 31, 2021, the Company recorded impairment charges of $3,186 on the asset group within its DTC reportable operating segment in SG&A expenses in the condensed consolidated statements of comprehensive income. Recent Accounting Pronouncements. Set forth below are the Financial Accounting Standards Board's recently issued Accounting Standard Updates (ASU) that have and have not yet been adopted by the Company for its annual and interim reporting periods. Recently Adopted. The following is a summary of an ASU recently adopted during January 2023 and its impact on the Company: Standard Description Impact Upon Adoption ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (as amended by ASUs 2021-01 and 2022-06) 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; however, this was deferred to December 31, 2024, to provide relief and allow flexibility until the cessation of USD LIBOR. While the sunset date was deferred with a recent amendment to this ASU, the Company elected to adopt this ASU as of January 1, 2023. The Company has evaluated the impact of the adoption of this ASU on its revolving credit facilities, lease agreements, cash flow hedges and other relevant agreements; however, the adoption did not have a material impact on its condensed consolidated financial statements. During December 2022, the Company entered into a new credit agreement with Secured Overnight Financing Rate (SOFR) interest terms and the previous credit agreement with LIBOR interest terms was terminated. Refer to Note 5, "Revolving Credit Facilities," for further information on the Company's Revolving Credit Facilities. Not Yet Adopted. The following is a summary of an ASU that has been issued and is applicable to the Company, but which has not yet been adopted, as well as the planned period of adoption, and the expected impact on the Company upon adoption: Standard Description Planned Period of Adoption Expected Impact Upon Adoption ASU 2022-04 - Supplier Finance Program (SFP) The ASU requires that a buyer in an SFP disclose qualitative and quantitative information about its program, including the nature and potential magnitude. Interim and annual requirements include disclosure of outstanding amounts under the SFP . Annual requirements include an activity roll forward of outstanding amounts under the SFP . This ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, except for the disclosure of roll forward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted, on a retrospective basis, except for the disclosure of roll forward information. Q1 FY 2024 The Company is currently evaluating this ASU and its implications on the presentation of and disclosure in the condensed consolidated financial statements. The Company currently has an SFP program with a third-party financial institution that allows certain participating suppliers to finance payment obligations of the Company, prior to their scheduled due dates, at a discounted price to the third-party financial institution.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Dec. 31, 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 actual and any recent events that could result in a change to 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 nine months ended December 31, 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* 55,080 (182,914) Actual returns (41,202) 146,695 Balance, December 31, 2022 $ 25,369 $ (76,086) Activity during the nine months ended December 31, 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* 29,603 (122,153) Actual returns (26,774) 111,851 Balance, December 31, 2021 $ 13,533 $ (48,019) * 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, and include loyalty programs and other deferred revenue. 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 nine months ended December 31, 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 32,096 Deferred revenue for loyalty points and certificates issued (41,354) Balance, December 31, 2022 $ (20,141) Activity during the nine months ended December 31, 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 38,034 Deferred revenue for loyalty points and certificates issued (42,834) Balance, December 31, 2021 $ (17,031) 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 nine months ended December 31, 2022, related to deferred revenue were as follows: Amounts Balance, March 31, 2022 $ (15,804) Additions of customer cash payments (41,782) Revenue recognized 46,138 Balance, December 31, 2022 $ (11,448) Activity during the nine months ended December 31, 2021, related to deferred revenue were as follows: Amounts Balance, March 31, 2021 $ (5,425) Additions of customer cash payments (36,507) Revenue recognized 28,341 Balance, December 31, 2021 $ (13,591) Refer to Note 11, "Reportable Operating Segments," for further information on the Company's disaggregation of revenue by reportable operating segment.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 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 December 31, 2022 Level 1 Level 2 Level 3 Money-market funds $ 761,356 $ 761,356 $ — $ — Non-qualified deferred compensation asset 8,196 8,196 — — Non-qualified deferred compensation liability (10,543) (10,543) — — Designated Derivative Contracts asset 185 — 185 — Designated Derivative Contracts liability (498) — (498) — 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 December 31, 2022, the non-qualified deferred compensation asset of $8,196 is recorded in other assets in the condensed consolidated balance sheets. As of December 31, 2022, the non-qualified deferred compensation liability of $10,543 is recorded in the condensed consolidated balance sheets, with $602 in other accrued expenses and $9,941 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 is 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 8, "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	9 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense and the effective income tax rate were as follows: Three Months Ended December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Income tax expense $ 86,642 $ 60,014 $ 126,189 $ 99,158 Effective income tax rate 23.7 % 20.5 % 22.9 % 20.6 % The tax provisions during the three and nine months ended December 31, 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 December 31, 2022, the net increase in the effective income tax rate, compared to the prior period, was primarily driven by higher income from operations, including changes in jurisdictional mix of worldwide income before income taxes, as well as reduced net discrete tax benefits, primarily due to stock-based compensation and return to provision adjustments, partially offset by reserves for uncertain tax positions.

Revolving Credit Facilities

Revolving Credit Facilities	9 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Revolving Credit Facilities	Revolving Credit Facilities Primary Credit Facility. In December 2022, the Company refinanced in full and terminated its prior credit agreement originally entered into in September 2018 (Prior Credit Agreement). There were no outstanding borrowings during the nine months ended December 31, 2022, nor at the time of termination, and no penalties paid as a result of the termination. However, the Company has outstanding letters of credit of $940 under the Prior Credit Agreement as of December 31, 2022, which are expected to be transferred to the Credit Agreement (as defined below) during the remainder of the Company's current fiscal year. The refinanced revolving credit facility agreement is with Citibank, N.A. (Citibank) as administrative agent, Comerica Bank, as sole syndication agent, and the lenders party thereto (Credit Agreement). The Credit Agreement provides for a five-year, $400,000 unsecured revolving credit facility (Primary Credit Facility), contains a $25,000 sublimit for the issuance of letters of credit, and matures on December 19, 2027, subject to extension on early termination as described in the Credit Agreement. In addition to allowing borrowings in US dollars, the Primary Credit Facility provides a $175,000 sublimit for borrowings in Euros, Sterling, Canadian dollars and any other foreign currency that is subsequently approved by Citibank, each lender and each bank issuing letters of credit. Subject to customary conditions, the Company has the option to increase the maximum principal amount available up to an additional $300,000, resulting in a maximum available principal amount of $700,000. However, none of the lenders has committed at this time to provide any such increase in the commitments. The obligations of the Company and each other borrower under the Primary Credit Facility are guaranteed by the Company’s existing and future wholly owned domestic subsidiaries that meet certain materiality thresholds, subject to limited exceptions. All obligations under the Primary Credit Facility and the foregoing guaranty are unsecured, and amounts borrowed may be prepaid at any time without a premium or penalty, subject to limited exceptions. Certain of the Company's foreign subsidiaries may also borrow under the Primary Credit Facility, which permits the Company, subject to customary conditions, to designate one or more additional subsidiaries organized in foreign jurisdictions to borrow. The Company is liable for the obligations of each foreign borrower, but the obligations of the foreign borrowers are several (not joint) in nature. Interest Rate Terms. At the Company’s election, revolving loans issued under the Primary Credit Facility will bear interest at the adjusted term SOFR, the adjusted Euro InterBank Offered Rate (EURIBOR), the Sterling Overnight Index Average (SONIA), the Canadian Dollar Offered Rate (CDOR), or the adjusted Alternate Base Rate (ABR), in each case plus the applicable interest rate margin. Interest for borrowings in US dollars will be variable and will fluctuate between SOFR, plus 1.00% and 0.10% based on the Company's total net leverage ratio per annum, and ABR, plus 0% per annum. The applicable interest rate margin is based on a pricing grid based on the Company’s total net leverage ratio and ranges from 1.00% per annum to 1.625% per annum in the case of loans based on the SOFR, EURIBOR, SONIA, or CDOR, and from 0.00% to 0.625% per annum in the case of loans based on ABR. As of December 31, 2022, the effective interest rates for SOFR and ABR, with relevant spreads for SOFR and ABR borrowings made during this quarterly period, are 5.16% and 7.50%, respectively. Commitment Fees. The Company is required to pay fees of 0.125% to 0.20% per annum on the daily unused amount of the Primary Credit Facility, with the exact commitment fee based on the Company’s total net leverage ratio. Borrowing Activity. During the three months ended December 31, 2022, the Company made no borrowings or repayments under the Primary Credit Facility. As of December 31, 2022, the Company has no outstanding balance, no outstanding letters of credit, and available borrowings of $400,000 under the Primary Credit Facility, with the exception of letters of credit outstanding under the Prior Credit Agreement, discussed above. Deferred Financing Costs. The Company paid certain commitment, arrangement and other fees to certain parties to the Credit Agreement, and reimbursed certain of the parties’ expenses, which totaled $1,537, with $313 recorded in other current assets and $1,224 recorded in other assets in the condensed consolidated balance sheets. These costs will be amortized on a straight-line basis over the term of the Credit Agreement. Deferred financing costs associated with the Prior Credit Agreement had a remaining unamortized balance previously recorded in other current assets in the condensed consolidated balance sheets of $226, and, on the date of refinancing the Primary Credit Facility, were written off to interest expense during the three months ended December 31, 2022. China Credit Facility. In October 2021, Deckers (Beijing) Trading Co., LTD., a wholly owned subsidiary of the Company, entered into a credit agreement in China (as amended, the China Credit Facility) that provides for an uncommitted revolving line of credit of up to CNY300,000, or $43,483, with an overdraft facility sublimit of CNY100,000, or $14,494. The China Credit Facility is payable on demand and subject to annual review with a defined aggregate period of borrowing of up to 12 months. The obligations under the China Credit Facility are guaranteed by the Company for 108.5% of the facility amount in US dollars. Interest is based on the People’s Bank of China (PBOC) market rate multiplied by a variable liquidity factor. As of December 31, 2022, the effective interest rate is 3.95%. During the nine months ended December 31, 2022, the Company made no borrowings or repayments under the China Credit Facility. As of December 31, 2022, the Company has no outstanding balance, outstanding bank guarantees of $29, and available borrowings of $43,454 under the China Credit Facility. Japan Credit Facility. In March 2016, Deckers Japan, G.K. (Deckers Japan), a wholly owned subsidiary of the Company, entered into a credit agreement in Japan (as amended, the Japan Credit Facility) that provides for an uncommitted revolving line of credit of up to JPY3,000,000, or $22,876, for a maximum term of six months for each draw on the facility. Interest is based on the Tokyo Interbank Offered Rate (TIBOR) plus 0.40%. As of December 31, 2022, the effective interest rate is 0.47%. The Japan Credit Facility expires on January 31, 2023, and the Company plans to cancel the parent guarantee. If borrowing needs arise, Deckers Japan is able to borrow from one or more of the Company's subsidiaries through intercompany loans as permitted under the Primary Credit Facility. During the nine months ended December 31, 2022, the Company made no borrowings or repayments under the Japan Credit Facility. As of December 31, 2022, the Company has no outstanding balance and available borrowings of $22,876 under the Japan Credit Facility. Debt Covenants. Under the Credit Agreement, the Company is subject to usual and customary representations and warranties, and contains usual and customary affirmative and negative covenants, which include limitations on liens, additional indebtedness, investments, restricted payments, indemnification provisions in favor of the lenders and transactions with affiliates. The financial covenant requires the total net leverage ratio must not be greater than 3.75 to 1.00). Under the Credit Agreement, the Company is subject to other customary limitations, as well as usual and customary events of default, which include non-payment of principal, interest, fees and other amounts; breach of a representation or warranty; non-performance of covenants and obligations; default on other material debt; bankruptcy or insolvency; material judgments; incurrence of certain material Employee Retirement Income Security Act of 1974 (ERISA) liabilities; and a change of control of the Company. As of December 31, 2022, the Company is in compliance with all financial covenants under the Primary Credit Facility, China Credit Facility, and Japan Credit Facility.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 12,849 $ 8,859 $ 26,058 $ 35,153 Reductions to operating lease assets for reductions to lease liabilities* (1,241) (4,669) (1,649) (5,293) *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 $52,443 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 second quarter of its next 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 Nagoya, Japan with an initial lease term of six years, which the Company expects to be opened in the second quarter of its next fiscal year. Purchase Obligations. The Company has been subject to the following adjustments to its purchase obligations: 3PL Agreements . Since March 31, 2022, the Company has entered into 3PL agreements relating to international logistics operations that require additional minimum commitments of approximately $86,000, which is expected to be paid over a period of three Commodities. During December 2022, the Company received refunds of deposits of $10,000 reflecting the return of funds previously advanced to sheepskin suppliers under certain expired supply agreements. Deposits are initially recorded in other assets in the condensed consolidated balance sheets and are returned from sheepskin suppliers as the Company, its affiliates, third-party manufacturers, factories, and other agents (each or collectively, a Buyer) purchase the remaining minimum commitments corresponding to unused sheepskins on previously expired contracts. As of December 31, 2022, an additional deposit refund due but not yet paid of $6,877 was reclassified from other assets to other current assets in the condensed consolidated balance sheets. As of December 31, 2022, remaining deposits recorded in other assets in the condensed consolidated balance sheets is $16,266. Except as described above, there were no other material changes outside the ordinary course of business during the nine months ended December 31, 2022, to the contractual obligations and other commitments last disclosed in the Company's 2022 Annual Report and as of March 31, 2022.
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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 12,849 $ 8,859 $ 26,058 $ 35,153 Reductions to operating lease assets for reductions to lease liabilities* (1,241) (4,669) (1,649) (5,293) *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 $52,443 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 second quarter of its next 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 Nagoya, Japan with an initial lease term of six years, which the Company expects to be opened in the second quarter of its next fiscal year. Purchase Obligations. The Company has been subject to the following adjustments to its purchase obligations: 3PL Agreements . Since March 31, 2022, the Company has entered into 3PL agreements relating to international logistics operations that require additional minimum commitments of approximately $86,000, which is expected to be paid over a period of three Commodities. During December 2022, the Company received refunds of deposits of $10,000 reflecting the return of funds previously advanced to sheepskin suppliers under certain expired supply agreements. Deposits are initially recorded in other assets in the condensed consolidated balance sheets and are returned from sheepskin suppliers as the Company, its affiliates, third-party manufacturers, factories, and other agents (each or collectively, a Buyer) purchase the remaining minimum commitments corresponding to unused sheepskins on previously expired contracts. As of December 31, 2022, an additional deposit refund due but not yet paid of $6,877 was reclassified from other assets to other current assets in the condensed consolidated balance sheets. As of December 31, 2022, remaining deposits recorded in other assets in the condensed consolidated balance sheets is $16,266. Except as described above, there were no other material changes outside the ordinary course of business during the nine months ended December 31, 2022, to the contractual obligations and other commitments last disclosed in the Company's 2022 Annual Report and as of March 31, 2022.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 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 were recorded in the condensed consolidated statements of comprehensive income: Nine Months Ended December 31, 2022 2021 Shares Granted Weighted-average grant date fair value per share Shares Granted Weighted-average grant date fair value per share RSUs 50,923 $ 337.44 40,062 $ 386.17 RSUs are subject to time-based vesting criteria and typically vest in equal annual installments over three years following the date of grant. 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 outstanding, as of December 31, 2022 was $18,720. Long-Term Incentive Plan Awards. During the nine months ended December 31, 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 nine months ended December 31, 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 December 31, 2022. Future unrecognized stock-based compensation for the current performance attainment level of all LTIP PSUs outstanding as of December 31, 2022, including the 2023 LTIP PSUs discussed above, the 2022 LTIP PSUs, and the 2021 LTIP PSUs, is $17,813.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative InstrumentsThe 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 is 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 December 31, 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 $ 33,525 $ — $ 33,525 Fair value recorded in other current assets 185 — 185 Fair value recorded in other accrued expenses (498) — (498) As of December 31, 2022, the Company's outstanding derivative contracts are held by an aggregate of one counterparty, with a maturity date within the next three months. As of March 31, 2022, the Company had 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 (Loss) Gain recorded in Other comprehensive income $ (1,270) $ 105 $ 1,535 $ 4,154 Reclassifications from Accumulated other comprehensive loss into net sales (1,479) (2,107) (1,848) (2,869) Income tax benefit (expense) in Other comprehensive income 666 485 76 (311) Total $ (2,083) $ (1,517) $ (237) $ 974 The following table summarizes the effect of Non-Designated Derivative Contracts recorded in the condensed consolidated statements of comprehensive income: Three Months Ended December 31, Nine Months Ended December 31, 2022 2021 2022 2021 (Loss) Gain recorded in SG&A expenses $ (398) $ (157) $ 1,518 $ 591 The non-performance risk of the Company and its counterparties did not have a material impact on the fair value of its derivative contracts. As of December 31, 2022, the amount of unrealized gains on derivative contracts recorded in AOCL is expected to be reclassified into net sales within the next three months. Refer to Note 9, "Stockholders' Equity," for further information on the components of AOCL.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Dec. 31, 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 oblige the Company to acquire any amount of common stock and may be suspended at any time at the Company's discretion. As of December 31, 2022, the aggregate remaining approved amount under the stock repurchase program is $1,459,145. Stock repurchase activity under the Company's stock repurchase program, was as follows: Nine Months Ended December 31, 2022 2021 Total number of shares repurchased* 685,075 735,976 Weighted average price paid per share $ 284.44 $ 362.36 Dollar value of shares repurchased** $ 194,862 $ 266,684 *All share repurchases were made pursuant to our publicly announced stock repurchase program in open-market transactions. ** May not calculate on rounded dollars. Accumulated Other Comprehensive Loss. The components within AOCL, net of tax, recorded in the condensed consolidated balance sheets are as follows: December 31, 2022 March 31, 2022 Unrealized loss on cash flow hedges $ (237) $ — Cumulative foreign currency translation loss (40,039) (24,955) Total $ (40,276) $ (24,955)

Basic and Diluted Shares

Basic and Diluted Shares	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Basic 26,418,000 27,428,000 26,570,000 27,630,000 Dilutive effect of equity awards 168,000 235,000 170,000 274,000 Diluted 26,586,000 27,663,000 26,740,000 27,904,000 Excluded RSUs and PSUs 2,000 1,000 17,000 2,000 LTIP PSUs 105,000 90,000 105,000 90,000 Deferred Non-Employee Director Equity Awards 1,000 — 2,000 — Employee Stock Purchase Plan 1,000 — — —

Reportable Operating Segments

Reportable Operating Segments	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Net sales UGG brand wholesale $ 374,082 $ 432,093 $ 873,249 $ 915,925 HOKA brand wholesale 223,872 122,636 678,792 420,763 Teva brand wholesale 25,180 16,287 91,662 78,857 Sanuk brand wholesale 3,040 3,138 18,826 20,540 Other brands wholesale 20,169 24,247 49,721 51,806 Direct-to-Consumer 699,297 589,351 1,123,465 926,441 Total $ 1,345,640 $ 1,187,752 $ 2,835,715 $ 2,414,332 Income (loss) from operations UGG brand wholesale $ 114,372 $ 126,085 $ 257,120 $ 283,624 HOKA brand wholesale 68,658 18,039 201,850 107,696 Teva brand wholesale 3,976 2,188 19,206 21,599 Sanuk brand wholesale (1,048) (31) 1,768 4,896 Other brands wholesale (1,851) 1,139 3,517 12,004 Direct-to-Consumer 292,693 257,517 393,849 335,934 Unallocated overhead costs (114,140) (111,541) (330,478) (282,344) Total $ 362,660 $ 293,396 $ 546,832 $ 483,409 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: December 31, 2022 March 31, 2022 Assets UGG brand wholesale $ 435,559 $ 382,837 HOKA brand wholesale 467,288 293,025 Teva brand wholesale 83,320 91,140 Sanuk brand wholesale 41,224 40,766 Other brands wholesale 45,076 32,429 Direct-to-Consumer 227,883 191,193 Total assets from reportable operating segments 1,300,350 1,031,390 Unallocated cash and cash equivalents 1,057,843 843,527 Unallocated deferred tax assets, net 63,318 64,217 Unallocated other corporate assets 387,778 393,116 Total $ 2,809,289 $ 2,332,250

Concentration of Business

Concentration of Business	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 International net sales $ 438,797 $ 391,603 $ 926,648 $ 767,489 % of net sales 32.6 % 33.0 % 32.7 % 31.8 % Net sales in foreign currencies $ 329,911 $ 332,968 $ 631,982 $ 580,949 % of net sales 24.5 % 28.0 % 22.3 % 24.1 % Ten largest global customers as % of net sales 24.6 % 26.4 % 27.4 % 28.8 % For the three and nine months ended December 31, 2022, and 2021, no single foreign country comprised 10.0% or more of the Company's total net sales. For the three and nine months ended December 31, 2022, and 2021, no single global customer accounted for 10.0% or more of the Company's net sales. As of December 31, 2022, the Company has one customer that represents 16.2% 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: December 31, 2022 March 31, 2022 United States $ 224,773 $ 208,078 Foreign* 17,821 14,371 Total $ 242,594 $ 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 December 31, 2022, and March 31, 2022.

General (Policies)

General (Policies)	9 Months Ended
	Dec. 31, 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 December 31, 2022, and for the three and nine months ended December 31, 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 (prior fiscal year), 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 it believes to be reasonable. In addition, the Company has considered the potential impact of the pandemic, as well as certain macroeconomic factors, including inflation, foreign currency exchange rate volatility, changes in interest rates, inflationary pressures, changes in commodity pricing, and recessionary concerns, 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). 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.
Impairment of Operating Lease and Other Long-Lived Assets	These impairment charges were due to the 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. Set forth below are the Financial Accounting Standards Board's recently issued Accounting Standard Updates (ASU) that have and have not yet been adopted by the Company for its annual and interim reporting periods. Recently Adopted. The following is a summary of an ASU recently adopted during January 2023 and its impact on the Company: Standard Description Impact Upon Adoption ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (as amended by ASUs 2021-01 and 2022-06) 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; however, this was deferred to December 31, 2024, to provide relief and allow flexibility until the cessation of USD LIBOR. While the sunset date was deferred with a recent amendment to this ASU, the Company elected to adopt this ASU as of January 1, 2023. The Company has evaluated the impact of the adoption of this ASU on its revolving credit facilities, lease agreements, cash flow hedges and other relevant agreements; however, the adoption did not have a material impact on its condensed consolidated financial statements. During December 2022, the Company entered into a new credit agreement with Secured Overnight Financing Rate (SOFR) interest terms and the previous credit agreement with LIBOR interest terms was terminated. Refer to Note 5, "Revolving Credit Facilities," for further information on the Company's Revolving Credit Facilities. Not Yet Adopted. The following is a summary of an ASU that has been issued and is applicable to the Company, but which has not yet been adopted, as well as the planned period of adoption, and the expected impact on the Company upon adoption: Standard Description Planned Period of Adoption Expected Impact Upon Adoption ASU 2022-04 - Supplier Finance Program (SFP) The ASU requires that a buyer in an SFP disclose qualitative and quantitative information about its program, including the nature and potential magnitude. Interim and annual requirements include disclosure of outstanding amounts under the SFP . Annual requirements include an activity roll forward of outstanding amounts under the SFP . This ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, except for the disclosure of roll forward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted, on a retrospective basis, except for the disclosure of roll forward information. Q1 FY 2024 The Company is currently evaluating this ASU and its implications on the presentation of and disclosure in the condensed consolidated financial statements. The Company currently has an SFP program with a third-party financial institution that allows certain participating suppliers to finance payment obligations of the Company, prior to their scheduled due dates, at a discounted price to the third-party financial institution.
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 actual and any recent events that could result in a change to 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, and include loyalty programs and other deferred revenue. 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 is 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 8, "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.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 is 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)	9 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounting Pronouncements Not Yet Adopted	Recently Adopted. The following is a summary of an ASU recently adopted during January 2023 and its impact on the Company: Standard Description Impact Upon Adoption ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (as amended by ASUs 2021-01 and 2022-06) 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; however, this was deferred to December 31, 2024, to provide relief and allow flexibility until the cessation of USD LIBOR. While the sunset date was deferred with a recent amendment to this ASU, the Company elected to adopt this ASU as of January 1, 2023. The Company has evaluated the impact of the adoption of this ASU on its revolving credit facilities, lease agreements, cash flow hedges and other relevant agreements; however, the adoption did not have a material impact on its condensed consolidated financial statements. During December 2022, the Company entered into a new credit agreement with Secured Overnight Financing Rate (SOFR) interest terms and the previous credit agreement with LIBOR interest terms was terminated. Refer to Note 5, "Revolving Credit Facilities," for further information on the Company's Revolving Credit Facilities. Not Yet Adopted. The following is a summary of an ASU that has been issued and is applicable to the Company, but which has not yet been adopted, as well as the planned period of adoption, and the expected impact on the Company upon adoption: Standard Description Planned Period of Adoption Expected Impact Upon Adoption ASU 2022-04 - Supplier Finance Program (SFP) The ASU requires that a buyer in an SFP disclose qualitative and quantitative information about its program, including the nature and potential magnitude. Interim and annual requirements include disclosure of outstanding amounts under the SFP . Annual requirements include an activity roll forward of outstanding amounts under the SFP . This ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, except for the disclosure of roll forward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted, on a retrospective basis, except for the disclosure of roll forward information. Q1 FY 2024 The Company is currently evaluating this ASU and its implications on the presentation of and disclosure in the condensed consolidated financial statements. The Company currently has an SFP program with a third-party financial institution that allows certain participating suppliers to finance payment obligations of the Company, prior to their scheduled due dates, at a discounted price to the third-party financial institution.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Activity Related to Estimated Sales Returns, Loyalty Program Activity and Deferred Revenue	Activity during the nine months ended December 31, 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* 55,080 (182,914) Actual returns (41,202) 146,695 Balance, December 31, 2022 $ 25,369 $ (76,086) Activity during the nine months ended December 31, 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* 29,603 (122,153) Actual returns (26,774) 111,851 Balance, December 31, 2021 $ 13,533 $ (48,019) * 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 nine months ended December 31, 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 32,096 Deferred revenue for loyalty points and certificates issued (41,354) Balance, December 31, 2022 $ (20,141) Activity during the nine months ended December 31, 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 38,034 Deferred revenue for loyalty points and certificates issued (42,834) Balance, December 31, 2021 $ (17,031) Amounts Balance, March 31, 2022 $ (15,804) Additions of customer cash payments (41,782) Revenue recognized 46,138 Balance, December 31, 2022 $ (11,448) Activity during the nine months ended December 31, 2021, related to deferred revenue were as follows: Amounts Balance, March 31, 2021 $ (5,425) Additions of customer cash payments (36,507) Revenue recognized 28,341 Balance, December 31, 2021 $ (13,591)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 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 December 31, 2022 Level 1 Level 2 Level 3 Money-market funds $ 761,356 $ 761,356 $ — $ — Non-qualified deferred compensation asset 8,196 8,196 — — Non-qualified deferred compensation liability (10,543) (10,543) — — Designated Derivative Contracts asset 185 — 185 — Designated Derivative Contracts liability (498) — (498) — 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)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Income tax expense $ 86,642 $ 60,014 $ 126,189 $ 99,158 Effective income tax rate 23.7 % 20.5 % 22.9 % 20.6 %

Commitments and Contingencies -

Commitments and Contingencies - (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 12,849 $ 8,859 $ 26,058 $ 35,153 Reductions to operating lease assets for reductions to lease liabilities* (1,241) (4,669) (1,649) (5,293) *Amounts disclosed include non-cash additions or reductions resulting from lease remeasurements.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Dec. 31, 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 were recorded in the condensed consolidated statements of comprehensive income: Nine Months Ended December 31, 2022 2021 Shares Granted Weighted-average grant date fair value per share Shares Granted Weighted-average grant date fair value per share RSUs 50,923 $ 337.44 40,062 $ 386.17

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of December 31, 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 $ 33,525 $ — $ 33,525 Fair value recorded in other current assets 185 — 185 Fair value recorded in other accrued expenses (498) — (498)
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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 (Loss) Gain recorded in Other comprehensive income $ (1,270) $ 105 $ 1,535 $ 4,154 Reclassifications from Accumulated other comprehensive loss into net sales (1,479) (2,107) (1,848) (2,869) Income tax benefit (expense) in Other comprehensive income 666 485 76 (311) Total $ (2,083) $ (1,517) $ (237) $ 974
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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 (Loss) Gain recorded in SG&A expenses $ (398) $ (157) $ 1,518 $ 591

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of Stock Repurchases	Stock repurchase activity under the Company's stock repurchase program, was as follows: Nine Months Ended December 31, 2022 2021 Total number of shares repurchased* 685,075 735,976 Weighted average price paid per share $ 284.44 $ 362.36 Dollar value of shares repurchased** $ 194,862 $ 266,684 *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: December 31, 2022 March 31, 2022 Unrealized loss on cash flow hedges $ (237) $ — Cumulative foreign currency translation loss (40,039) (24,955) Total $ (40,276) $ (24,955)

Basic and Diluted Shares (Table

Basic and Diluted Shares (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Basic 26,418,000 27,428,000 26,570,000 27,630,000 Dilutive effect of equity awards 168,000 235,000 170,000 274,000 Diluted 26,586,000 27,663,000 26,740,000 27,904,000 Excluded RSUs and PSUs 2,000 1,000 17,000 2,000 LTIP PSUs 105,000 90,000 105,000 90,000 Deferred Non-Employee Director Equity Awards 1,000 — 2,000 — Employee Stock Purchase Plan 1,000 — — —

Reportable Operating Segments (

Reportable Operating Segments (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Net sales UGG brand wholesale $ 374,082 $ 432,093 $ 873,249 $ 915,925 HOKA brand wholesale 223,872 122,636 678,792 420,763 Teva brand wholesale 25,180 16,287 91,662 78,857 Sanuk brand wholesale 3,040 3,138 18,826 20,540 Other brands wholesale 20,169 24,247 49,721 51,806 Direct-to-Consumer 699,297 589,351 1,123,465 926,441 Total $ 1,345,640 $ 1,187,752 $ 2,835,715 $ 2,414,332 Income (loss) from operations UGG brand wholesale $ 114,372 $ 126,085 $ 257,120 $ 283,624 HOKA brand wholesale 68,658 18,039 201,850 107,696 Teva brand wholesale 3,976 2,188 19,206 21,599 Sanuk brand wholesale (1,048) (31) 1,768 4,896 Other brands wholesale (1,851) 1,139 3,517 12,004 Direct-to-Consumer 292,693 257,517 393,849 335,934 Unallocated overhead costs (114,140) (111,541) (330,478) (282,344) Total $ 362,660 $ 293,396 $ 546,832 $ 483,409 Assets allocated to each reportable operating segment, with a reconciliation to the condensed consolidated balance sheets, are as follows: December 31, 2022 March 31, 2022 Assets UGG brand wholesale $ 435,559 $ 382,837 HOKA brand wholesale 467,288 293,025 Teva brand wholesale 83,320 91,140 Sanuk brand wholesale 41,224 40,766 Other brands wholesale 45,076 32,429 Direct-to-Consumer 227,883 191,193 Total assets from reportable operating segments 1,300,350 1,031,390 Unallocated cash and cash equivalents 1,057,843 843,527 Unallocated deferred tax assets, net 63,318 64,217 Unallocated other corporate assets 387,778 393,116 Total $ 2,809,289 $ 2,332,250

Concentration of Business (Tabl

Concentration of Business (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2022 2021 2022 2021 International net sales $ 438,797 $ 391,603 $ 926,648 $ 767,489 % of net sales 32.6 % 33.0 % 32.7 % 31.8 % Net sales in foreign currencies $ 329,911 $ 332,968 $ 631,982 $ 580,949 % of net sales 24.5 % 28.0 % 22.3 % 24.1 % Ten largest global customers as % of net sales 24.6 % 26.4 % 27.4 % 28.8 %
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: December 31, 2022 March 31, 2022 United States $ 224,773 $ 208,078 Foreign* 17,821 14,371 Total $ 242,594 $ 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 December 31, 2022, and March 31, 2022.

General - Narrative (Details)

General - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			6
Impairment of operating lease and other long-lived assets			$ 2,085	$ 3,186
Direct-to-Consumer
Segment Reporting Information [Line Items]
Impairment of operating lease and other long-lived assets	$ 1,017	$ 3,186	$ 2,085	$ 3,186

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Recovery Asset
Beginning balance	$ 11,491	$ 10,704
Net additions to sales return liability	55,080	29,603
Actual returns	(41,202)	(26,774)
Ending balance	25,369	13,533
Contract Liability
Beginning balance	(39,867)	(37,717)
Net additions to sales return liability	(182,914)	(122,153)
Actual returns	146,695	111,851
Ending balance	$ (76,086)	$ (48,019)

Revenue Recognition - Loyalty P

Revenue Recognition - Loyalty Programs (Details) - Loyalty Programs - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 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	32,096	38,034
Deferred revenue for loyalty points and certificates issued	(41,354)	(42,834)
Ending balance	$ (20,141)	$ (17,031)

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue (Details) - Wholesale - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ (15,804)	$ (5,425)
Additions of customer cash payments	(41,782)	(36,507)
Revenue recognized	46,138	28,341
Ending balance	$ (11,448)	$ (13,591)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	$ 8,196	$ 8,933
Non-qualified deferred compensation liability	(10,543)	(9,573)
Derivative Contracts asset	185
Derivative Contracts liability	(498)
Money-market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market funds	761,356	524,063
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	8,196	8,933
Non-qualified deferred compensation liability	(10,543)	(9,573)
Level 1 | Money-market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market funds	761,356	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	185
Derivative Contracts liability	(498)
Designated Derivative Contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Contracts asset	0
Derivative Contracts liability	0
Designated Derivative Contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Contracts asset	185
Derivative Contracts liability	(498)
Designated Derivative Contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Contracts asset	0
Derivative Contracts liability	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	$ 8,196	$ 8,933
Non-qualified deferred compensation liability	10,543	9,573
Other Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	8,196	8,933
Other Accrued Expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current deferred compensation liability	602	936
Other Long-Term Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncurrent deferred compensation liability	$ 9,941	$ 8,637

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 86,642	$ 60,014	$ 126,189	$ 99,158
Effective income tax rate	23.70%	20.50%	22.90%	20.60%

Revolving Credit Facilities - P

Revolving Credit Facilities - Primary Credit Facility (Details) - Line of Credit	1 Months Ended	3 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Prior Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term line of credit	$ 0	$ 0
Penalties paid on termination	0
Outstanding letters of credit	940,000	940,000
Deferred financing costs	$ 226,000	226,000
Primary Credit Facility | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Spread on variable interest rate (as a percent)	1%
Primary Credit Facility | Total Net Leverage Ratio Per Annum
Line of Credit Facility [Line Items]
Spread on variable interest rate (as a percent)	0.10%
Primary Credit Facility | Alternative Base Rate (ABR)
Line of Credit Facility [Line Items]
Spread on variable interest rate (as a percent)	0%
Primary Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term line of credit	$ 0	0
Outstanding letters of credit	$ 0	0
Debt instrument term	5 years
Maximum borrowing capacity	$ 400,000,000	400,000,000
Sublimit available for borrowings in foreign currency	175,000,000	175,000,000
Increase to credit facility	300,000,000	300,000,000
Maximum available principal amount	700,000,000	700,000,000
Proceeds from lines of credit		0
Repayments of lines of credit		0
Amount available under the credit agreement	400,000,000	400,000,000
Debt issuance costs	1,537,000	1,537,000
Primary Credit Facility | Revolving Credit Facility | Other Current Assets
Line of Credit Facility [Line Items]
Debt issuance costs	313,000	313,000
Primary Credit Facility | Revolving Credit Facility | Other Noncurrent Assets
Line of Credit Facility [Line Items]
Debt issuance costs	$ 1,224,000	$ 1,224,000
Primary Credit Facility | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Interest rate, effective percentage	5.16%	5.16%
Primary Credit Facility | Revolving Credit Facility | Alternative Base Rate (ABR)
Line of Credit Facility [Line Items]
Interest rate, effective percentage	7.50%	7.50%
Maximum | Primary Credit Facility | Alternative Base Rate (ABR)
Line of Credit Facility [Line Items]
Spread on variable interest rate (as a percent)	0.625%
Maximum | Primary Credit Facility | SOFR, EURIBOR, SONIA Or CDOR
Line of Credit Facility [Line Items]
Spread on variable interest rate (as a percent)	1.625%
Maximum | Primary Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Capacity available for letters of credit	$ 25,000,000	$ 25,000,000
Commitment fee percentage	0.20%
Minimum | Primary Credit Facility | Alternative Base Rate (ABR)
Line of Credit Facility [Line Items]
Spread on variable interest rate (as a percent)	0%
Minimum | Primary Credit Facility | SOFR, EURIBOR, SONIA Or CDOR
Line of Credit Facility [Line Items]
Spread on variable interest rate (as a percent)	1%
Minimum | Primary Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage	0.125%

Revolving Credit Facilities - C

Revolving Credit Facilities - China Line of Credit (Details) - Line of Credit - Revolving Credit Facility ¥ in Thousands, $ in Thousands	1 Months Ended	9 Months Ended
	Oct. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2021 CNY (¥)
Second Amended China Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 43,483		¥ 300,000
Interest rate, effective percentage		3.95%
Proceeds from lines of credit		$ 0
Repayments of lines of credit		0
Long-term line of credit		0
Outstanding bank guarantees		29
Amount available under the credit agreement		$ 43,454
Second Amended China Credit Facility, Overdraft Sublimit
Debt Instrument [Line Items]
Line of credit facility overdraft facility sublimit	$ 14,494		¥ 100,000
China Credit Agreement
Debt Instrument [Line Items]
Guarantor obligation	108.50%
Maximum | Second Amended China Credit Facility
Debt Instrument [Line Items]
Debt instrument term	12 months

Revolving Credit Facilities - J

Revolving Credit Facilities - Japan Line of Credit (Details) - Revolving Credit Facility - Line of Credit - Japan Credit Facility ¥ in Thousands, $ in Thousands	1 Months Ended	9 Months Ended
	Mar. 31, 2016 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2016 JPY (¥)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 22,876		¥ 3,000,000
Proceeds from lines of credit		$ 0
Repayments of lines of credit		0
Long-term line of credit		0
Amount available under the credit agreement		$ 22,876
Maximum
Line of Credit Facility [Line Items]
Debt instrument term	6 months
Tokyo Interbank Offered Rate (TIBOR)
Line of Credit Facility [Line Items]
Spread on variable interest rate (as a percent)	0.40%
Interest rate, effective percentage		0.47%

Revolving Credit Facilities - D

Revolving Credit Facilities - Debt Covenants (Details) - Primary Credit Facility - Line of Credit	Dec. 31, 2022
Line of Credit Facility [Line Items]
Net leverage ratio, minimum	3.75
Net leverage ratio, maximum	1

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) $ in Thousands	1 Months Ended	9 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Undiscounted minimum lease payments	$ 52,443	$ 52,443
Sheepskin
Lessee, Lease, Description [Line Items]
Refund received	10,000
Additional deposit refund due but not yet paid	6,877	6,877
Remaining deposits	16,266	16,266
3PL Agreements
Lessee, Lease, Description [Line Items]
Future commitments	$ 86,000	$ 86,000
Indiana
Lessee, Lease, Description [Line Items]
Lease term not yet commenced (in years)	10 years	10 years
Germany
Lessee, Lease, Description [Line Items]
Lease term not yet commenced (in years)	5 years	5 years
Japan
Lessee, Lease, Description [Line Items]
Lease term not yet commenced (in years)	6 years	6 years
Minimum
Lessee, Lease, Description [Line Items]
Operating lease renewal term (in years)	1 year	1 year
Minimum | 3PL Agreements
Lessee, Lease, Description [Line Items]
Term of commitments (in years)		3 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease renewal term (in years)	15 years	15 years
Maximum | 3PL Agreements
Lessee, Lease, Description [Line Items]
Term of commitments (in years)		5 years

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Supplemental Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease assets obtained in exchange for lease liabilities	$ 12,849	$ 8,859	$ 26,058	$ 35,153
Reductions to operating lease assets for reductions to lease liabilities	$ (1,241)	$ (4,669)	$ (1,649)	$ (5,293)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
PSUs | Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued (in shares)	0
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock compensation expense	$ 18,720
RSUs | Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued (in shares)	50,923	40,062
Award vesting period (in years)	3 years

Stock-Based Compensation - Annu

Stock-Based Compensation - Annual Awards (Details) - RSUs - Stock Incentive Plan 2015 - $ / shares	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	50,923	40,062
Weighted-average grant date fair value (in dollars per share)	$ 337.44	$ 386.17

Stock-Based Compensation - Long

Stock-Based Compensation - Long-Term Incentive Plan Awards (Details) - LTIP PSUs $ / shares in Units, $ in Thousands	9 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock compensation expense | $	$ 17,813
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		9 Months Ended
	Dec. 31, 2022 USD ($) counterparty	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) counterparty	Dec. 31, 2021 USD ($)	Mar. 31, 2022 USD ($)
Foreign currency exchange contracts and hedging
Notional value	$ 33,525,000		$ 33,525,000		$ 0
Fair value recorded in other current assets	185,000		185,000
Fair value recorded in other accrued expenses	$ (498,000)		$ (498,000)
Number of counterparties in derivative contracts | counterparty	1		1
(Loss) Gain recorded in Other comprehensive income	$ (1,270,000)	$ 105,000	$ 1,535,000	$ 4,154,000
Reclassifications from Accumulated other comprehensive loss into net sales	(1,479,000)	(2,107,000)	(1,848,000)	(2,869,000)
Income tax benefit (expense) in Other comprehensive income	666,000	485,000	76,000	(311,000)
Unrealized (loss) gain on cash flow hedges	(2,083,000)	(1,517,000)	(237,000)	974,000
(Loss) Gain recorded in SG&A expenses	(398,000)	$ (157,000)	$ 1,518,000	$ 591,000
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	33,525,000		$ 33,525,000
Fair value recorded in other current assets	185,000		185,000
Fair value recorded in other accrued expenses	(498,000)		(498,000)
Non-Designated Derivative Contracts
Foreign currency exchange contracts and hedging
Notional value	0		0
Fair value recorded in other current assets	0		0
Fair value recorded in other accrued expenses	$ 0		$ 0

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchase Programs (Details) - USD ($)		3 Months Ended						9 Months Ended
	Jul. 27, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Additional authorized amount of shares to repurchase	$ 1,200,000,000
Dollar value of shares remaining for repurchase		$ 1,459,145,000						$ 1,459,145,000
Total number of shares repurchased (in shares)								685,075	735,976
Weighted average price paid per share (in dollars per share)		$ 284.44			$ 362.36			$ 284.44	$ 362.36
Dollar value of shares repurchased		$ 44,622,000	$ 50,247,000	$ 99,993,000	$ 130,711,000	$ 53,807,000	$ 82,166,000	$ 194,862,000	$ 266,684,000

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Unrealized loss on cash flow hedges	$ (237)	$ 0
Cumulative foreign currency translation loss	(40,039)	(24,955)
Total	$ (40,276)	$ (24,955)

Basic and Diluted Shares (Detai

Basic and Diluted Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic (in shares)	26,418	27,428	26,570	27,630
Dilutive effect of equity awards (in shares)	168	235	170	274
Diluted (in shares)	26,586	27,663	26,740	27,904
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)	2	1	17	2
LTIP PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	105	90	105	90
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)	1	0	2	0
Employee Stock Purchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1	0	0	0

Reportable Operating Segments_2

Reportable Operating Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Mar. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			6
Net sales	$ 1,345,640	$ 1,187,752	$ 2,835,715	$ 2,414,332
Income (loss) from operations	362,660	293,396	546,832	483,409
Assets	2,809,289		2,809,289		$ 2,332,250
Unallocated cash and cash equivalents	1,057,843		1,057,843		843,527
Unallocated deferred tax assets, net	63,318		63,318		64,217
Reportable segments
Segment Reporting Information [Line Items]
Assets	1,300,350		1,300,350		1,031,390
Reportable segments | UGG brand wholesale
Segment Reporting Information [Line Items]
Assets	435,559		435,559		382,837
Reportable segments | HOKA brand wholesale
Segment Reporting Information [Line Items]
Assets	467,288		467,288		293,025
Reportable segments | Teva brand wholesale
Segment Reporting Information [Line Items]
Assets	83,320		83,320		91,140
Reportable segments | Sanuk brand wholesale
Segment Reporting Information [Line Items]
Assets	41,224		41,224		40,766
Reportable segments | Other brands wholesale
Segment Reporting Information [Line Items]
Assets	45,076		45,076		32,429
Reportable segments | Direct-to-Consumer
Segment Reporting Information [Line Items]
Assets	227,883		227,883		191,193
Segment reconciling items
Segment Reporting Information [Line Items]
Income (loss) from operations	(114,140)	(111,541)	(330,478)	(282,344)
Unallocated cash and cash equivalents	1,057,843		1,057,843		843,527
Unallocated deferred tax assets, net	63,318		63,318		64,217
Corporate
Segment Reporting Information [Line Items]
Unallocated other corporate assets	387,778		387,778		$ 393,116
Wholesale | UGG brand wholesale
Segment Reporting Information [Line Items]
Net sales	374,082	432,093	873,249	915,925
Wholesale | HOKA brand wholesale
Segment Reporting Information [Line Items]
Net sales	223,872	122,636	678,792	420,763
Wholesale | Teva brand wholesale
Segment Reporting Information [Line Items]
Net sales	25,180	16,287	91,662	78,857
Wholesale | Sanuk brand wholesale
Segment Reporting Information [Line Items]
Net sales	3,040	3,138	18,826	20,540
Wholesale | Other brands wholesale
Segment Reporting Information [Line Items]
Net sales	20,169	24,247	49,721	51,806
Wholesale | Reportable segments | UGG brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	114,372	126,085	257,120	283,624
Wholesale | Reportable segments | HOKA brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	68,658	18,039	201,850	107,696
Wholesale | Reportable segments | Teva brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	3,976	2,188	19,206	21,599
Wholesale | Reportable segments | Sanuk brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	(1,048)	(31)	1,768	4,896
Wholesale | Reportable segments | Other brands wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	(1,851)	1,139	3,517	12,004
Direct-to-Consumer | Direct-to-Consumer
Segment Reporting Information [Line Items]
Net sales	699,297	589,351	1,123,465	926,441
Direct-to-Consumer | Reportable segments | Direct-to-Consumer
Segment Reporting Information [Line Items]
Income (loss) from operations	$ 292,693	$ 257,517	$ 393,849	$ 335,934

Concentration of Business (Deta

Concentration of Business (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) tannery	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) tannery	Dec. 31, 2021 USD ($)	Mar. 31, 2022 USD ($)
Concentration Risk [Line Items]
Net sales	$ 1,345,640	$ 1,187,752	$ 2,835,715	$ 2,414,332
Number of tanneries | tannery	2		2
Long-lived assets	$ 242,594		$ 242,594		$ 222,449
Sales Revenue, Net | Customer Concentration Risk | 10 Largest Customers
Concentration Risk [Line Items]
Concentration risk	24.60%	26.40%	27.40%	28.80%
Trade Accounts Receivable | Customer Concentration Risk | One Customer
Concentration Risk [Line Items]
Concentration risk			16.20%		11.20%
Foreign
Concentration Risk [Line Items]
Long-lived assets	$ 17,821		$ 17,821		$ 14,371
Foreign | International net sales
Concentration Risk [Line Items]
Net sales	438,797	$ 391,603	926,648	$ 767,489
Foreign | Net sales in foreign currencies
Concentration Risk [Line Items]
Net sales	$ 329,911	$ 332,968	$ 631,982	$ 580,949
Foreign | Sales Revenue, Net | International net sales
Concentration Risk [Line Items]
Concentration risk	32.60%	33%	32.70%	31.80%
Foreign | Sales Revenue, Net | Net sales in foreign currencies
Concentration Risk [Line Items]
Concentration risk	24.50%	28%	22.30%	24.10%
United States
Concentration Risk [Line Items]
Long-lived assets	$ 224,773		$ 224,773		$ 208,078