Deckers Outdoor (DECK) 10-Q 2 Nov 23 2024 Q2 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	6 Months Ended
	Sep. 30, 2023	Oct. 12, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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)		25,730,874
Entity Central Index Key	0000910521
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--03-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
ASSETS
Cash and cash equivalents	$ 823,051	$ 981,795
Trade accounts receivable, net of allowances ($45,511 and $32,504 as of September 30, 2023, and March 31, 2023, respectively)	487,677	301,511
Inventories	726,332	532,852
Prepaid expenses	46,094	33,788
Other current assets	83,455	55,523
Income tax receivable	13,272	4,784
Total current assets	2,179,881	1,910,253
Property and equipment, net of accumulated depreciation ($333,711 and $317,508 as of September 30, 2023, and March 31, 2023, respectively) (Note 11)	295,212	266,679
Operating lease assets	209,338	213,302
Goodwill	13,990	13,990
Other intangible assets, net of accumulated amortization ($81,809 and $81,033 as of September 30, 2023, and March 31, 2023, respectively)	36,350	37,457
Deferred tax assets, net	71,078	72,592
Other assets	42,684	41,930
Total assets	2,848,533	2,556,203
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	476,868	265,605
Accrued payroll	49,219	63,781
Operating lease liabilities	49,496	50,765
Other accrued expenses	101,682	86,753
Income tax payable	61,493	17,322
Value added tax payable	20,632	13,154
Total current liabilities	759,390	497,380
Long-term operating lease liabilities	201,572	195,723
Income tax liability	54,251	62,032
Other long-term liabilities	38,190	35,335
Total long-term liabilities	294,013	293,090
Commitments and contingencies (Note 5)
Stockholders’ equity
Common stock (par value $0.01 per share; 125,000 shares authorized; shares issued and outstanding of 25,822 and 26,176 as of September 30, 2023, and March 31, 2023, respectively)	258	262
Additional paid-in capital	243,400	232,932
Retained earnings	1,600,923	1,571,574
Accumulated other comprehensive loss (Note 8)	(49,451)	(39,035)
Total stockholders’ equity	1,795,130	1,765,733
Total liabilities and stockholders’ equity	$ 2,848,533	$ 2,556,203

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances	$ 45,511	$ 32,504
Accumulated depreciation	333,711	317,508
Accumulated amortization	$ 81,809	$ 81,033
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)	25,822,000	26,176,000
Common stock, outstanding shares (in shares)	25,822,000	26,176,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net sales	$ 1,091,907	$ 875,614	$ 1,767,698	$ 1,490,075
Cost of sales	508,888	453,693	838,255	773,402
Gross profit	583,019	421,921	929,443	716,673
Selling, general, and administrative expenses	358,402	294,090	634,090	532,501
Income from operations (Note 10)	224,617	127,831	295,353	184,172
Interest income	(10,089)	(1,884)	(21,376)	(3,098)
Interest expense	1,011	1,038	2,016	2,090
Other income, net	(622)	(241)	(968)	(740)
Total other income, net	(9,700)	(1,087)	(20,328)	(1,748)
Income before income taxes	234,317	128,918	315,681	185,920
Income tax expense (Note 4)	55,770	27,394	73,582	39,547
Net income	178,547	101,524	242,099	146,373
Other comprehensive loss, net of tax
Unrealized gain on cash flow hedges	3,403	1,088	3,755	1,846
Foreign currency translation loss	(5,520)	(13,529)	(14,171)	(29,253)
Total other comprehensive loss, net of tax	(2,117)	(12,441)	(10,416)	(27,407)
Comprehensive income	$ 176,430	$ 89,083	$ 231,683	$ 118,966
Net income per share
Basic (in dollars per share)	$ 6.86	$ 3.83	$ 9.28	$ 5.49
Diluted (in dollars per share)	$ 6.82	$ 3.80	$ 9.22	$ 5.46
Weighted-average common shares outstanding (Note 9)
Basic (in shares)	26,031	26,517	26,098	26,646
Diluted (in shares)	26,178	26,682	26,251	26,815

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, 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 8) (in shares)		(384,000)
Repurchases of common stock (Note 8)	(99,993)	$ (4)		(99,989)
Net income	44,849			44,849
Total other comprehensive loss	(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 8) (in shares)	(557,675)
Repurchases of common stock (Note 8)	$ (150,240)
Net income	146,373
Total other comprehensive loss	(27,407)
Ending balance (in shares) at Sep. 30, 2022		26,481,000
Ending balance at Sep. 30, 2022	1,515,839	$ 265	219,113	1,348,823	(52,362)
Beginning balance (in shares) at Jun. 30, 2022		26,599,000
Beginning balance at Jun. 30, 2022	1,472,407	$ 266	214,517	1,297,545	(39,921)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)		1,000
Stock-based compensation	6,779		6,779
Shares issued upon vesting (in shares)		27,000
Shares issued upon vesting	1,046		1,046
Exercise of stock options (in shares)		27,000
Exercise of stock options	1,830		1,830
Shares withheld for taxes	(5,059)		(5,059)
Repurchases of common stock (Note 8) (in shares)		(173,000)
Repurchases of common stock (Note 8)	(50,247)	$ (1)		(50,246)
Net income	101,524			101,524
Total other comprehensive loss	(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)
Beginning balance (in shares) at Mar. 31, 2023		26,176,000
Beginning balance at Mar. 31, 2023	1,765,733	$ 262	232,932	1,571,574	(39,035)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)		1,000
Stock-based compensation	6,877		6,877
Shares issued upon vesting (in shares)		3,000
Exercise of stock options (in shares)		8,000
Exercise of stock options	548		548
Shares withheld for taxes	(698)		(698)
Repurchases of common stock (Note 8) (in shares)		(52,000)
Repurchases of common stock (Note 8)	(25,469)	$ (1)		(25,468)
Excise taxes related to repurchases of common stock	(123)			(123)
Net income	63,552			63,552
Total other comprehensive loss	(8,299)				(8,299)
Ending balance (in shares) at Jun. 30, 2023		26,136,000
Ending balance at Jun. 30, 2023	1,802,121	$ 261	239,659	1,609,535	(47,334)
Beginning balance (in shares) at Mar. 31, 2023		26,176,000
Beginning balance at Mar. 31, 2023	$ 1,765,733	$ 262	232,932	1,571,574	(39,035)
Increase (Decrease) in Stockholders' Equity
Repurchases of common stock (Note 8) (in shares)	(399,388)
Repurchases of common stock (Note 8)	$ (210,938)
Net income	242,099
Total other comprehensive loss	(10,416)
Ending balance (in shares) at Sep. 30, 2023		25,822,000
Ending balance at Sep. 30, 2023	1,795,130	$ 258	243,400	1,600,923	(49,451)
Beginning balance (in shares) at Jun. 30, 2023		26,136,000
Beginning balance at Jun. 30, 2023	1,802,121	$ 261	239,659	1,609,535	(47,334)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation (in shares)		1,000
Stock-based compensation	9,802		9,802
Shares issued upon vesting (in shares)		24,000
Shares issued upon vesting	1,165		1,165
Exercise of stock options (in shares)		8,000
Exercise of stock options	533		533
Shares withheld for taxes	(7,759)		(7,759)
Repurchases of common stock (Note 8) (in shares)		(347,000)
Repurchases of common stock (Note 8)	(185,469)	$ (3)		(185,466)
Excise taxes related to repurchases of common stock	(1,693)			(1,693)
Net income	178,547			178,547
Total other comprehensive loss	(2,117)				(2,117)
Ending balance (in shares) at Sep. 30, 2023		25,822,000
Ending balance at Sep. 30, 2023	$ 1,795,130	$ 258	$ 243,400	$ 1,600,923	$ (49,451)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net income	$ 242,099	$ 146,373
Reconciliation of net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and accretion	25,138	23,018
Amortization on cloud computing arrangements	1,131	1,001
Bad debt expense	6,905	4,444
Deferred tax (benefit) expense	(1,266)	788
Stock-based compensation	16,719	10,550
Loss on disposal of long-lived assets	145	24
Impairment of operating lease, other long-lived assets, and other	793	1,068
Changes in operating assets and liabilities:
Trade accounts receivable, net	(193,071)	(136,430)
Inventories	(193,480)	(418,247)
Prepaid expenses and other current assets	(35,269)	(22,791)
Income tax receivable	(8,488)	(6,134)
Net operating lease assets and lease liabilities	8,909	(4,057)
Other assets	(1,886)	2,308
Trade accounts payable	215,374	157,155
Other accrued expenses	(1,479)	(14,688)
Income tax payable	44,171	26,915
Other long-term liabilities	(4,917)	(8,143)
Net cash provided by (used in) operating activities	121,528	(236,846)
INVESTING ACTIVITIES
Purchases of property and equipment	(57,436)	(24,254)
Proceeds from sales of property and equipment	34	0
Net cash used in investing activities	(57,402)	(24,254)
FINANCING ACTIVITIES
Proceeds from issuance of stock	1,165	1,046
Proceeds from exercise of stock options	1,081	1,830
Repurchases of common stock	(210,938)	(150,240)
Cash paid for shares withheld for taxes	(8,457)	(5,102)
Net cash used in financing activities	(217,149)	(152,466)
Effect of foreign currency exchange rates on cash and cash equivalents	(5,721)	(10,702)
Net change in cash and cash equivalents	(158,744)	(424,268)
Cash and cash equivalents at beginning of period	981,795	843,527
Cash and cash equivalents at end of period	823,051	419,259
Cash paid during the period
Income taxes, net of refunds of $4 and $1,124, as of September 30, 2023, and 2022, respectively	47,146	29,242
Interest	955	901
Operating leases	31,370	31,572
Non-cash investing activities
Changes in accounts payable and accrued expenses for purchases of property and equipment	(12,957)	(2,516)
Accrued for asset retirement obligation assets related to leasehold improvements	718	803
Leasehold improvements acquired through tenant allowances	8,127	0
Non-cash financing activities
Accrued excise taxes related to repurchase of common stock	$ 1,816	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Statement of Cash Flows [Abstract]
Income tax refunds	$ 4	$ 1,124

General

General	6 Months Ended
	Sep. 30, 2023
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. The Company’s proprietary brands include the UGG, HOKA, Teva, Sanuk, and Koolaburra brands. The Company sells its products through quality domestic and international retailers, international distributors, and directly to its global consumers through its DTC business, which is comprised of its e-commerce websites and retail stores. Independent third-party contractors manufacture all of the Company’s products. A significant part of the UGG brand’s 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 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, which generally occur more evenly throughout the year, continue to increase as a percentage of the Company’s aggregate net sales, the Company has seen, and expects to continue to see, the impact from seasonality decrease over time. Basis of Presentation. The unaudited condensed consolidated financial statements and accompanying notes thereto (referred to herein as condensed consolidated financial statements) as of September 30, 2023, and for the three and six months ended September 30, 2023 (the current period), and 2022 (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, 2023, 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, 2023 (prior fiscal year), which was filed with the SEC on May 26, 2023 (2023 Annual Report). Consolidation. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates. The preparation of the Company’s condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the amounts reported. Management bases these estimates and assumptions upon historical experience, existing and known circumstances, authoritative accounting pronouncements and other factors that management believes to be reasonable. In addition, the Company has considered the potential impact of macroeconomic factors, including inflation, foreign currency exchange rate volatility, changes in interest rates, changes in commodity pricing, changes in discretionary spending 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, such as the sales return asset and liability; contract assets and liabilities; stock-based compensation; impairment assessments, including 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 (IBR) utilized to measure its operating lease assets and lease liabilities. Foreign Currency Translation. The Company considers the US dollar as its functional currency. The Company’s wholly owned foreign subsidiaries have various assets and liabilities, primarily cash, receivables, and payables, which are denominated in currencies other than its functional currency. The Company remeasures these monetary assets and liabilities using the exchange rate at the end of the reporting period, which results in gains and losses that are recorded in selling, general, and administrative (SG&A) expenses in the condensed consolidated statements of comprehensive income as incurred. In addition, the Company translates assets and liabilities of subsidiaries with reporting currencies other than US dollars into US dollars using the exchange rates at the end of the reporting period, which results in financial statement translation gains and losses recorded in other comprehensive income or loss (OCI) in the condensed consolidated statements of comprehensive income. Immaterial Correction. The supplemental cash flow disclosure includes the correction of an immaterial error to a previously presented amount within the “Operating leases” line item. The amount reported for the period ended September 30, 2022, has been corrected from $17,589 to $31,572. Management has evaluated this correction to its prior period financial statements from a quantitative and qualitative perspective and has concluded this change was not material to any prior annual or interim period. In addition, no other changes were made to the condensed consolidated financial statements as a result of this immaterial correction. Reportable Operating Segments. The Company’s six reportable operating segments include the worldwide wholesale operations of the UGG brand, HOKA brand, Teva brand, Sanuk brand, and Other brands (primarily consisting of the Koolaburra brand), as well as DTC (collectively, the Company’s reportable operating segments). Refer to Note 10, “Reportable Operating Segments,” for further information on the Company’s reportable operating segments. As announced during October 2023, the Company intends to divest the Sanuk brand as it focuses on allocating resources that best align with its long-term objectives. Recent Accounting Pronouncements. The Financial Accounting Standards Board has issued and Accounting Standards Update (ASU) that has recently been adopted by the Company and the following is a summary of its impact on the Company: Standard Description Impact Upon Adoption ASU 2022-04 - Supplier Finance Program (SFP) The ASU requires that a buyer in a SFP disclose qualitative and quantitative information about its program on an interim basis, including the nature of the SFP and key terms, outstanding amounts as of the end the reporting period, and presentation in its financial statements. The interim portion of this ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted. The annual requirement that requires a buyer in a SFP disclose an activity roll forward of outstanding balances as of the end of the reporting period has not yet been adopted. This annual portion of this ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2023. Early adoption is not permitted. The Company retrospectively adopted this ASU beginning on April 1, 2023, except for the roll forward requirements. Refer to Note 12, “Supplier Finance Program,” for further information on the Company's SFP key terms and outstanding balances recorded in the condensed consolidated balance sheets. Management is currently evaluating the impact of the annual portion of this ASU on its condensed consolidated financial statements. The Company plans to adopt the annual roll forward requirement beginning with its year ending March 31, 2025.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregated Revenue. Refer to Note 10, “Reportable Operating Segments,” for further information on the Company’s disaggregation of revenue by reportable operating segment. Sales Return Asset and Liability. Sales returns are a refund asset for the right to recover the inventory and a refund liability for the stand-ready right of return. The refund asset for the right to recover the inventory is recorded in other current assets and the related refund liability is recorded in other accrued expenses in the condensed consolidated balance sheets. The following tables summarize changes in the estimated sales returns for the periods presented: Recovery Asset Refund Liability Balance, March 31, 2023 $ 15,685 $ (45,322) Net additions to sales return liability* 24,298 (106,824) Actual returns (24,192) 97,969 Balance, September 30, 2023 $ 15,791 $ (54,177) Recovery Asset Refund Liability Balance, March 31, 2022 $ 11,491 $ (39,867) Net additions to sales return liability* 26,444 (84,336) Actual returns (24,378) 82,497 Balance, September 30, 2022 $ 13,557 $ (41,706) * 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 recorded in other accrued expenses in the condensed consolidated balance sheets and include loyalty programs and other deferred revenue. Loyalty Programs. Activity during the six months ended September 30, 2023, and 2022, related to loyalty programs was as follows: 2023 2022 Beginning balance $ (13,144) $ (10,883) Redemptions and expirations for loyalty certificates and points recognized in net sales 10,022 9,585 Deferred revenue for loyalty points and certificates issued (11,269) (10,106) Ending balance $ (14,391) $ (11,404) Deferred Revenue. Activity during the six months ended September 30, 2023, and 2022, related to deferred revenue was as follows: 2023 2022 Beginning balance $ (13,448) $ (15,804) Additions of customer cash payments (33,089) (31,503) Revenue recognized 30,032 28,589 Ending balance $ (16,505) $ (18,718) Refer to Note 2, “Revenue Recognition,” in the Company’s consolidated financial statements in Part IV of the 2023 Annual Report for further information on the Company’s variable consideration accounting policies, including sales return asset and liability, as well as contract liabilities.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis. Refer to Note 4, “Fair Value Measurements,” in the Company’s consolidated financial statements in Part IV of the 2023 Annual Report for further information on the Company’s fair value accounting policies. Assets and liabilities that are measured on a recurring basis at fair value in the condensed consolidated balance sheets are as follows: As of Measured Using September 30, 2023 Level 1 Level 2 Level 3 Money-market funds (1) $ 489,021 $ 489,021 $ — $ — Non-qualified deferred compensation asset (2) 9,409 9,409 — — Non-qualified deferred compensation liability (2) (13,603) (13,603) — — Designated Derivative Contracts asset (3) 4,968 — 4,968 — As of Measured Using March 31, 2023 Level 1 Level 2 Level 3 Money-market funds (1) $ 675,468 $ 675,468 $ — $ — Non-qualified deferred compensation asset (2) 8,399 8,399 — — Non-qualified deferred compensation liability (2) (11,326) (11,326) — — (1) Money-market funds are recorded in cash and cash equivalents in the condensed consolidated balance sheets. (2) As of September 30, 2023, the non-qualified deferred compensation asset of $9,409 is recorded in other assets in the condensed consolidated balance sheets, and of the $13,603 non-qualified deferred compensation liability, $615 is recorded in other accrued expenses and $12,988 is recorded in other long-term liabilities in the condensed consolidated balance sheets. As of March 31, 2023, the non-qualified deferred compensation asset of $8,399 is recorded in other assets in the condensed consolidated balance sheets, and of the $11,326 non-qualified deferred compensation liability, $737 is recorded in other accrued expenses and $10,589 is recorded in other long-term liabilities in the condensed consolidated balance sheets. (3) The fair value of Designated Derivative 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 associated with derivative instruments and hedging activities are recorded in other current assets in the condensed consolidated balance sheets. Refer to Note 7, “Derivative Instruments,” for further information, including the definition of the term Designated Derivative Contracts.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense and the effective income tax rate were as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Income tax expense $ 55,770 $ 27,394 $ 73,582 $ 39,547 Effective income tax rate 23.8 % 21.2 % 23.3 % 21.3 % The tax provisions during the three and six months ended September 30, 2023, and 2022 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, 2024 (current fiscal year), and March 31, 2023, respectively, and were adjusted for discrete items that occurred within the periods presented above. During the three and six months ended September 30, 2023, the net increase in the effective income tax rate, compared to the prior period, was primarily due to changes in the jurisdictional mix of worldwide income before income taxes, and slightly lower net discrete tax benefits.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies There were no material changes outside the ordinary course of business during the six months ended September 30, 2023, to the purchase obligations disclosed in the 2023 Annual Report. Refer to Note 7, “Commitments and Contingencies,” in the Company’s consolidated financial statements in Part IV of the 2023 Annual Report for further information on the Company’s contractual obligations and commitments. 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, were as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 13,152 $ 7,002 $ 34,739 $ 13,209 Reductions to operating lease assets for reductions to lease liabilities* (7,606) (132) (7,671) (408) *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 $29,935 of undiscounted minimum lease payments due pursuant to leases signed but not yet commenced. The excluded amount primarily relates to the lease for a new HOKA brand retail store in New York City that the Company entered into during the three months ended September 30, 2023. The Company expects the New York City store lease will be operational during the quarter ending December 31, 2023. Litigation. From time to time, the Company is involved in various legal proceedings, disputes, and other claims arising in the ordinary course of business, including employment, intellectual property, and product liability claims. Although the results of these matters cannot be predicted with certainty, the Company believes it is not currently a party to any legal proceedings, disputes, or other claims for which a material loss is considered probable and for which the amount (or range) of loss is reasonably estimable. However, regardless of the merit of the claims raised or the outcome, these matters can have an adverse impact on the Company as a result of legal costs, diversion of management’s time and resources, and other factors.
Commitments and Contingencies	Commitments and Contingencies There were no material changes outside the ordinary course of business during the six months ended September 30, 2023, to the purchase obligations disclosed in the 2023 Annual Report. Refer to Note 7, “Commitments and Contingencies,” in the Company’s consolidated financial statements in Part IV of the 2023 Annual Report for further information on the Company’s contractual obligations and commitments. 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, were as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 13,152 $ 7,002 $ 34,739 $ 13,209 Reductions to operating lease assets for reductions to lease liabilities* (7,606) (132) (7,671) (408) *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 $29,935 of undiscounted minimum lease payments due pursuant to leases signed but not yet commenced. The excluded amount primarily relates to the lease for a new HOKA brand retail store in New York City that the Company entered into during the three months ended September 30, 2023. The Company expects the New York City store lease will be operational during the quarter ending December 31, 2023. Litigation. From time to time, the Company is involved in various legal proceedings, disputes, and other claims arising in the ordinary course of business, including employment, intellectual property, and product liability claims. Although the results of these matters cannot be predicted with certainty, the Company believes it is not currently a party to any legal proceedings, disputes, or other claims for which a material loss is considered probable and for which the amount (or range) of loss is reasonably estimable. However, regardless of the merit of the claims raised or the outcome, these matters can have an adverse impact on the Company as a result of legal costs, diversion of management’s time and resources, and other factors.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation From time to time, the Company grants various types of stock-based compensation under the 2015 Stock Incentive Plan (2015 SIP), including time-based restricted stock units (RSUs), performance-based restricted stock units (PSUs), and long-term incentive plan PSUs (LTIP PSUs), to key personnel, including employees and directors. During the six months ended September 30, 2023, no additional awards were granted under the 2015 SIP, with the exception of the RSU and LTIP PSU awards summarized below. Refer to Note 8, “Stock-Based Compensation,” of our consolidated financial statements in Part IV of our 2023 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: Six Months Ended September 30, 2023 2022 Shares Granted Weighted-average grant date fair value per share Shares Granted Weighted-average grant date fair value per share RSUs 35,371 $ 549.90 47,545 $ 334.74 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 September 30, 2023, was $26,151. Long-Term Incentive Plan Awards. During the six months ended September 30, 2023, the Company approved awards under the 2015 SIP for the issuance of PSUs (2024 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 2024 LTIP PSUs are subject to vesting based on service conditions over three years. The Company must meet certain revenue and pre-tax income performance targets individually over 36-month reporting periods for the fiscal years ending March 31, 2024, 2025, and 2026 (collectively, the Measurement Periods). The 2024 LTIP PSUs incorporate a relative total stockholder return (TSR) modifier for the 36-month performance period (commencing April 1, 2023) ending March 31, 2026 (collectively, the Performance Periods). To the extent financial performance is achieved above the threshold levels for each of these performance criteria, the number of 2024 LTIP PSUs that vest will increase up to a maximum of 200% of the targeted amount for that award. No vesting of any portion of the 2024 LTIP PSUs will occur if the Company fails to achieve the pre-established minimum revenue and pre-tax income amounts for each reporting period. Following the determination of the Company’s achievement with respect to the revenue and pre-tax income criteria for the Measurement Periods, the vesting of each 2024 LTIP PSU will be subject to adjustment based on the application of the TSR modifier. The amount of the adjustment will be determined based on a comparison of the Company’s TSR relative to the TSR of a pre-determined set of peer group companies for the Performance Periods. A Monte-Carlo simulation model was used to determine the grant date fair value by simulating a range of possible future stock prices for the Company and each member of the peer group over the Performance Periods. The Company granted awards of 20,846 2024 LTIP PSUs at the target performance level during the six months ended September 30, 2023. The weighted-average grant date fair value per share of these 2024 LTIP PSUs was $633.91. Based on the Company’s current long-range forecast, the Company determined that the achievement of at least the minimum threshold target performance criteria was probable as of September 30, 2023. Future unrecognized stock-based compensation for the current performance attainment level of all LTIP PSUs outstanding as of September 30, 2023, including the 2024 LTIP PSUs discussed above, the 2023 LTIP PSUs, and the 2022 LTIP PSUs, is $26,047.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company enters into foreign currency forward or option contracts (derivative contracts) 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 also enters into derivative contracts that are not designated as cash flow hedges (Non-Designated Derivative Contracts), to offset a portion of the 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 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 offset by the remeasurement gains or losses associated with the underlying foreign currency-denominated intercompany balances, which are recorded in SG&A expenses in the condensed consolidated statements of comprehensive income. As of September 30, 2023, the Company has the following Designated Derivative Contracts recorded at fair value in the condensed consolidated balance sheets: Notional value $ 115,721 Fair value recorded in other current assets 4,968 As of September 30, 2023, three counterparties hold the Company’s outstanding derivative contracts, all of which are expected to mature in the next six months. As of March 31, 2023, 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 September 30, Six Months Ended September 30, 2023 2022 2023 2022 Gain recorded in OCI $ 4,705 $ 1,805 $ 5,116 $ 2,805 Reclassifications from AOCL into net sales (170) (369) (149) (369) Income tax expense in OCI (1,132) (348) (1,212) (590) Total $ 3,403 $ 1,088 $ 3,755 $ 1,846 There was no gain or loss for Non-Designated Derivative Contracts recorded during the three and six months ended September 30, 2023; and there was a $1,836 and $1,916 gain recorded in SG&A expenses in the condensed consolidated statements of comprehensive income during the three and six months ended September 30, 2022, respectively. 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 September 30, 2023, the amount of unrealized gains on derivative contracts recorded in AOCL is expected to be reclassified into net sales within the next six months. Refer to Note 8, “Stockholders’ Equity,” for further information on the components of AOCL.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Sep. 30, 2023
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 in the open market or in privately negotiated transactions (stock repurchase program). As of September 30, 2023, the aggregate remaining approved amount under the stock repurchase program is $1,145,697. The stock repurchase program does not obligate the Company to acquire any amount of common stock and may be suspended at any time at the Company’s discretion. Stock repurchase activity under the Company’s stock repurchase program was as follows: Six Months Ended September 30, 2023 2022 Dollar value of shares repurchased (1) (2) $ 210,938 $ 150,240 Total number of shares repurchased (3) 399,388 557,675 Weighted average price per share paid $ 528.15 $ 269.41 (1) The dollar value of shares repurchased excludes the cost of broker commissions, excise taxes, and other costs. (2) May not calculate on rounded dollars. (3) All share repurchases were made pursuant to the Company’s stock repurchase program in open-market transactions. Subsequent to September 30, 2023, through October 12, 2023, the Company repurchased 88,928 shares in open-market transactions for $44,941 at a weighted average price per share paid of $505.36 and had an aggregate authorized amount of $1,100,756 remaining under the stock repurchase program. Accumulated Other Comprehensive Loss. The components within AOCL, net of tax, recorded in the condensed consolidated balance sheets are as follows: September 30, 2023 March 31, 2023 Unrealized gain on cash flow hedges $ 3,755 $ — Cumulative foreign currency translation loss (53,206) (39,035) Total $ (49,451) $ (39,035)

Basic and Diluted Shares

Basic and Diluted Shares	6 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Basic and Diluted Shares	Basic and Diluted Shares The reconciliation of basic to diluted weighted-average common shares outstanding was as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Basic 26,031,000 26,517,000 26,098,000 26,646,000 Dilutive effect of equity awards 147,000 165,000 153,000 169,000 Diluted 26,178,000 26,682,000 26,251,000 26,815,000 Excluded RSUs and PSUs 19,000 45,000 33,000 47,000 LTIP PSUs 117,000 115,000 117,000 115,000 Deferred Non-Employee Director Equity Awards — 2,000 — 2,000

Reportable Operating Segments

Reportable Operating Segments	6 Months Ended
	Sep. 30, 2023
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 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 DCs, certain executive and stock-based compensation, accounting, finance, legal, information technology (IT), human resources, and facilities, among others. Inter-segment sales from the Company’s wholesale reportable operating segments to the DTC reportable operating segment are at the Company’s cost, and there is no inter-segment profit on these inter-segment sales, nor are they reflected in income (loss) from operations of the wholesale reportable operating segments as these transactions are eliminated in consolidation. Reportable operating segment information, with a reconciliation to the condensed consolidated statements of comprehensive income, was as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Net sales UGG brand wholesale $ 451,841 $ 361,305 $ 573,386 $ 499,167 HOKA brand wholesale 262,973 223,035 523,820 454,920 Teva brand wholesale 12,150 19,587 47,282 66,482 Sanuk brand wholesale 3,348 5,060 9,818 15,786 Other brands wholesale 29,862 27,559 31,289 29,552 Direct-to-Consumer 331,733 239,068 582,103 424,168 Total $ 1,091,907 $ 875,614 $ 1,767,698 $ 1,490,075 Income (loss) from operations UGG brand wholesale $ 165,902 $ 112,083 $ 182,768 $ 142,748 HOKA brand wholesale 81,873 63,576 168,397 133,192 Teva brand wholesale (647) 2,737 8,590 15,230 Sanuk brand wholesale (303) 350 456 2,816 Other brands wholesale 6,459 5,837 4,418 5,368 Direct-to-Consumer 112,255 59,936 187,717 101,156 Unallocated overhead costs (140,922) (116,688) (256,993) (216,338) Total $ 224,617 $ 127,831 $ 295,353 $ 184,172 Segment Assets. Assets allocated to each reportable operating segment include trade accounts receivable, net, inventories, property and equipment, net, operating lease assets, goodwill, other intangible assets, net, and certain other assets that are specifically identifiable for one of the Company’s reportable operating segments. Unallocated assets are those assets not directly related to a specific reportable operating segment and generally include cash and cash equivalents, deferred tax assets, net, and various other corporate assets shared by the Company’s reportable operating segments. Assets allocated to each reportable operating segment, with a reconciliation to the condensed consolidated balance sheets, are as follows: September 30, 2023 March 31, 2023 Assets UGG brand wholesale $ 740,892 $ 261,683 HOKA brand wholesale 361,699 446,450 Teva brand wholesale 48,519 94,735 Sanuk brand wholesale 30,971 41,405 Other brands wholesale 51,734 24,448 Direct-to-Consumer 258,211 219,194 Total assets from reportable operating segments 1,492,026 1,087,915 Unallocated cash and cash equivalents 823,051 981,795 Unallocated deferred tax assets, net 71,078 72,592 Unallocated other corporate assets 462,378 413,901 Total $ 2,848,533 $ 2,556,203

Concentration of Business

Concentration of Business	6 Months Ended
	Sep. 30, 2023
Risks and Uncertainties [Abstract]
Concentration of Business	Concentration of Business Regions and Customers. The Company sells its products globally to customers and consumers in various countries, with net sales concentrations as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 International net sales $ 343,874 $ 257,905 $ 600,130 $ 487,851 % of net sales 31.5 % 29.5 % 33.9 % 32.7 % Net sales in foreign currencies $ 292,344 $ 193,130 $ 441,315 $ 302,071 % of net sales 26.8 % 22.1 % 25.0 % 20.3 % Ten largest global customers as % of net sales 33.6 % 40.1 % 27.9 % 30.1 % For the three and six months ended September 30, 2023, and 2022, no single foreign country comprised 10.0% or more of the Company’s total net sales. For the three months ended September 30, 2023, no single global customer accounted for 10.0% or more of the Company’s net sales, compared to one single global customer for the three months ended September 30, 2022. For the six months ended September 30, 2023, and 2022, no single global customer accounted for 10.0% or more of the Company’s net sales. As of September 30, 2023, the Company has two customers that represent 24.0% of trade accounts receivable, net, compared to no customers that represent 10.0% of trade accounts receivable, net, as of March 31, 2023. 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. Cash and Cash Equivalents. The Company maintains a portion of its cash in Federal Deposit Insurance Corporation (FDIC) insured bank deposit accounts which, at times, may exceed federally insured limits. To date, the Company has not experienced any losses in such accounts. The Company does not believe, based on the size and strength of the banking institutions used, it is exposed to any significant credit risks in cash. 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). Long-Lived Assets. Long-lived assets, which consist of property and equipment, net, recorded in the condensed consolidated balance sheets, are as follows: September 30, 2023 March 31, 2023 United States $ 270,047 $ 244,529 Foreign* 25,165 22,150 Total $ 295,212 $ 266,679 *No single foreign country’s property and equipment, net, represents 10.0% or more of the Company’s total property and equipment, net, as of September 30, 2023, and March 31, 2023.

Supplier Finance Program

Supplier Finance Program	6 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Supplier Finance Program	Supplier Finance Program The Company has a voluntary SFP administered through a third-party platform that provides the Company’s independent manufacturers and suppliers of inventory (inventory suppliers) the opportunity to sell their receivables due from the Company to participating financial institutions in advance of the invoice due date, at the sole discretion of both inventory suppliers and the financial institutions. The Company is not party to the agreements between these third parties and has no economic interest in an inventory suppliers’ decision to sell a receivable. The Company’s payment obligations, including the amounts due and payment terms, which generally do not exceed 90 days, are not impacted by the inventory suppliers’ election to participate in the SFP, and the Company provides no guarantees to any third parties under the SFP. Accordingly, amounts due to inventory suppliers that elected to participate in the SFP are presented in trade accounts payable in the condensed consolidated balance sheets. As of September 30, 2023, and March 31, 2023, the Company had $7,513 and $7,740, respectively, of balances outstanding related to the SFP recorded in trade accounts payable in the condensed consolidated balance sheets.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 178,547	$ 63,552	$ 101,524	$ 44,849	$ 242,099	$ 146,373

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Set forth below is a summary of the adoption, modification, and termination activity of our directors and officers in respect of their Rule 10b5-1 trading plans during the three months ended September 30, 2023: Name & Title Adoption Date Termination Date Contract End Date Aggregate Shares Covered Dave Powers, Chief Executive Officer, President, and Director September 8, 2023 * April 22, 2024 35,957 Stefano Caroti, Chief Commercial Officer September 6, 2023 * August 25, 2024 14,725 *Not applicable.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Dave Powers [Member]
Trading Arrangements, by Individual
Name	Dave Powers
Title	Chief Executive Officer, President, and Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 8, 2023
Arrangement Duration	227 days
Aggregate Available	35,957	35,957
Stefano Caroti [Member]
Trading Arrangements, by Individual
Name	Stefano Caroti
Title	Chief Commercial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 6, 2023
Arrangement Duration	354 days
Aggregate Available	14,725	14,725

General (Policies)

General (Policies)	6 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation. The unaudited condensed consolidated financial statements and accompanying notes thereto (referred to herein as condensed consolidated financial statements) as of September 30, 2023, and for the three and six months ended September 30, 2023 (the current period), and 2022 (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, 2023, 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, 2023 (prior fiscal year), which was filed with the SEC on May 26, 2023 (2023 Annual Report).
Consolidation	Consolidation. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates. The preparation of the Company’s condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the amounts reported. Management bases these estimates and assumptions upon historical experience, existing and known circumstances, authoritative accounting pronouncements and other factors that management believes to be reasonable. In addition, the Company has considered the potential impact of macroeconomic factors, including inflation, foreign currency exchange rate volatility, changes in interest rates, changes in commodity pricing, changes in discretionary spending 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.
Foreign Currency Translation	Foreign Currency Translation. The Company considers the US dollar as its functional currency. The Company’s wholly owned foreign subsidiaries have various assets and liabilities, primarily cash, receivables, and payables, which are denominated in currencies other than its functional currency. The Company remeasures these monetary assets and liabilities using the exchange rate at the end of the reporting period, which results in gains and losses that are recorded in selling, general, and administrative (SG&A) expenses in the condensed consolidated statements of comprehensive income as incurred. In addition, the Company translates assets and liabilities of subsidiaries with reporting currencies other than US dollars into US dollars using the exchange rates at the end of the reporting period, which results in financial statement translation gains and losses recorded in other comprehensive income or loss (OCI) in the condensed consolidated statements of comprehensive income.
Reportable Operating Segments	Reportable Operating Segments. The Company’s six reportable operating segments include the worldwide wholesale operations of the UGG brand, HOKA brand, Teva brand, Sanuk brand, and Other brands (primarily consisting of the Koolaburra brand), 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 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 DCs, certain executive and stock-based compensation, accounting, finance, legal, information
Recent Accounting Pronouncements	Recent Accounting Pronouncements. The Financial Accounting Standards Board has issued and Accounting Standards Update (ASU) that has recently been adopted by the Company and the following is a summary of its impact on the Company: Standard Description Impact Upon Adoption ASU 2022-04 - Supplier Finance Program (SFP) The ASU requires that a buyer in a SFP disclose qualitative and quantitative information about its program on an interim basis, including the nature of the SFP and key terms, outstanding amounts as of the end the reporting period, and presentation in its financial statements. The interim portion of this ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted. The annual requirement that requires a buyer in a SFP disclose an activity roll forward of outstanding balances as of the end of the reporting period has not yet been adopted. This annual portion of this ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2023. Early adoption is not permitted. The Company retrospectively adopted this ASU beginning on April 1, 2023, except for the roll forward requirements. Refer to Note 12, “Supplier Finance Program,” for further information on the Company's SFP key terms and outstanding balances recorded in the condensed consolidated balance sheets. Management is currently evaluating the impact of the annual portion of this ASU on its condensed consolidated financial statements. The Company plans to adopt the annual roll forward requirement beginning with its year ending March 31, 2025.
Revenue Recognition	Disaggregated Revenue. Refer to Note 10, “Reportable Operating Segments,” for further information on the Company’s disaggregation of revenue by reportable operating segment. Sales Return Asset and Liability. Sales returns are a refund asset for the right to recover the inventory and a refund liability for the stand-ready right of return. The refund asset for the right to recover the inventory is recorded in other current assets and the related refund liability is recorded in other accrued expenses in the condensed consolidated balance sheets.
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.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) 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 also enters into derivative contracts that are not designated as cash flow hedges (Non-Designated Derivative Contracts), to offset a portion of the 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 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 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 antidilutive). 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.
Cash and Cash Equivalents	Cash and Cash Equivalents. The Company maintains a portion of its cash in Federal Deposit Insurance Corporation (FDIC) insured bank deposit accounts which, at times, may exceed federally insured limits. To date, the Company has not experienced any losses in such accounts. The Company does not believe, based on the size and strength of the banking institutions used, it is exposed to any significant credit risks in cash.
Supplier Finance Program	The Company has a voluntary SFP administered through a third-party platform that provides the Company’s independent manufacturers and suppliers of inventory (inventory suppliers) the opportunity to sell their receivables due from the Company to participating financial institutions in advance of the invoice due date, at the sole discretion of both inventory suppliers and the financial institutions. The Company is not party to the agreements between these third parties and has no economic interest in an inventory suppliers’ decision to sell a receivable. The Company’s payment obligations, including the amounts due and payment terms, which generally do not exceed 90 days, are not impacted by the inventory suppliers’ election to participate in the SFP, and the Company provides no guarantees to any third parties under the SFP. Accordingly, amounts due to inventory suppliers that elected to participate in the SFP are presented in trade accounts payable in the condensed consolidated balance sheets.

General (Tables)

General (Tables)	6 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounting Pronouncements Not Yet Adopted	The Financial Accounting Standards Board has issued and Accounting Standards Update (ASU) that has recently been adopted by the Company and the following is a summary of its impact on the Company: Standard Description Impact Upon Adoption ASU 2022-04 - Supplier Finance Program (SFP) The ASU requires that a buyer in a SFP disclose qualitative and quantitative information about its program on an interim basis, including the nature of the SFP and key terms, outstanding amounts as of the end the reporting period, and presentation in its financial statements. The interim portion of this ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted. The annual requirement that requires a buyer in a SFP disclose an activity roll forward of outstanding balances as of the end of the reporting period has not yet been adopted. This annual portion of this ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2023. Early adoption is not permitted. The Company retrospectively adopted this ASU beginning on April 1, 2023, except for the roll forward requirements. Refer to Note 12, “Supplier Finance Program,” for further information on the Company's SFP key terms and outstanding balances recorded in the condensed consolidated balance sheets. Management is currently evaluating the impact of the annual portion of this ASU on its condensed consolidated financial statements. The Company plans to adopt the annual roll forward requirement beginning with its year ending March 31, 2025.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Activity Related to Estimated Sales Returns, Loyalty Program Activity and Deferred Revenue	The following tables summarize changes in the estimated sales returns for the periods presented: Recovery Asset Refund Liability Balance, March 31, 2023 $ 15,685 $ (45,322) Net additions to sales return liability* 24,298 (106,824) Actual returns (24,192) 97,969 Balance, September 30, 2023 $ 15,791 $ (54,177) Recovery Asset Refund Liability Balance, March 31, 2022 $ 11,491 $ (39,867) Net additions to sales return liability* 26,444 (84,336) Actual returns (24,378) 82,497 Balance, September 30, 2022 $ 13,557 $ (41,706) * 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. Loyalty Programs. Activity during the six months ended September 30, 2023, and 2022, related to loyalty programs was as follows: 2023 2022 Beginning balance $ (13,144) $ (10,883) Redemptions and expirations for loyalty certificates and points recognized in net sales 10,022 9,585 Deferred revenue for loyalty points and certificates issued (11,269) (10,106) Ending balance $ (14,391) $ (11,404) Deferred Revenue. Activity during the six months ended September 30, 2023, and 2022, related to deferred revenue was as follows: 2023 2022 Beginning balance $ (13,448) $ (15,804) Additions of customer cash payments (33,089) (31,503) Revenue recognized 30,032 28,589 Ending balance $ (16,505) $ (18,718)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets and liabilities that are measured on a recurring basis at fair value in the condensed consolidated balance sheets are as follows: As of Measured Using September 30, 2023 Level 1 Level 2 Level 3 Money-market funds (1) $ 489,021 $ 489,021 $ — $ — Non-qualified deferred compensation asset (2) 9,409 9,409 — — Non-qualified deferred compensation liability (2) (13,603) (13,603) — — Designated Derivative Contracts asset (3) 4,968 — 4,968 — As of Measured Using March 31, 2023 Level 1 Level 2 Level 3 Money-market funds (1) $ 675,468 $ 675,468 $ — $ — Non-qualified deferred compensation asset (2) 8,399 8,399 — — Non-qualified deferred compensation liability (2) (11,326) (11,326) — — (1) Money-market funds are recorded in cash and cash equivalents in the condensed consolidated balance sheets. (2) As of September 30, 2023, the non-qualified deferred compensation asset of $9,409 is recorded in other assets in the condensed consolidated balance sheets, and of the $13,603 non-qualified deferred compensation liability, $615 is recorded in other accrued expenses and $12,988 is recorded in other long-term liabilities in the condensed consolidated balance sheets. As of March 31, 2023, the non-qualified deferred compensation asset of $8,399 is recorded in other assets in the condensed consolidated balance sheets, and of the $11,326 non-qualified deferred compensation liability, $737 is recorded in other accrued expenses and $10,589 is recorded in other long-term liabilities in the condensed consolidated balance sheets. (3) The fair value of Designated Derivative 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 associated with derivative instruments and hedging activities are recorded in other current assets in the condensed consolidated balance sheets. Refer to Note 7, “Derivative Instruments,” for further information, including the definition of the term Designated Derivative Contracts.

Income Taxes - (Tables)

Income Taxes - (Tables)	6 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Income tax expense and the effective income tax rate were as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Income tax expense $ 55,770 $ 27,394 $ 73,582 $ 39,547 Effective income tax rate 23.8 % 21.2 % 23.3 % 21.3 %

Commitments and Contingencies -

Commitments and Contingencies - (Tables)	6 Months Ended
	Sep. 30, 2023
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, were as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Non-cash operating activities Operating lease assets obtained in exchange for lease liabilities* $ 13,152 $ 7,002 $ 34,739 $ 13,209 Reductions to operating lease assets for reductions to lease liabilities* (7,606) (132) (7,671) (408) *Amounts disclosed include non-cash additions or reductions resulting from lease remeasurements.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Sep. 30, 2023
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: Six Months Ended September 30, 2023 2022 Shares Granted Weighted-average grant date fair value per share Shares Granted Weighted-average grant date fair value per share RSUs 35,371 $ 549.90 47,545 $ 334.74

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of September 30, 2023, the Company has the following Designated Derivative Contracts recorded at fair value in the condensed consolidated balance sheets: Notional value $ 115,721 Fair value recorded in other current assets 4,968
Schedule of Location and Amount of Gains and Losses Related to Derivatives Designated as Hedging Instruments	The following table summarizes the effect of Designated Derivative Contracts and the related income tax effects of unrealized gains or losses recorded in the condensed consolidated statements of comprehensive income for changes in AOCL: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Gain recorded in OCI $ 4,705 $ 1,805 $ 5,116 $ 2,805 Reclassifications from AOCL into net sales (170) (369) (149) (369) Income tax expense in OCI (1,132) (348) (1,212) (590) Total $ 3,403 $ 1,088 $ 3,755 $ 1,846

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stock Repurchases	Stock repurchase activity under the Company’s stock repurchase program was as follows: Six Months Ended September 30, 2023 2022 Dollar value of shares repurchased (1) (2) $ 210,938 $ 150,240 Total number of shares repurchased (3) 399,388 557,675 Weighted average price per share paid $ 528.15 $ 269.41 (1) The dollar value of shares repurchased excludes the cost of broker commissions, excise taxes, and other costs. (2) May not calculate on rounded dollars. (3) All share repurchases were made pursuant to the Company’s stock repurchase program in open-market transactions.
Components of Accumulated Other Comprehensive Loss	The components within AOCL, net of tax, recorded in the condensed consolidated balance sheets are as follows: September 30, 2023 March 31, 2023 Unrealized gain on cash flow hedges $ 3,755 $ — Cumulative foreign currency translation loss (53,206) (39,035) Total $ (49,451) $ (39,035)

Basic and Diluted Shares (Table

Basic and Diluted Shares (Tables)	6 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The reconciliation of basic to diluted weighted-average common shares outstanding was as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Basic 26,031,000 26,517,000 26,098,000 26,646,000 Dilutive effect of equity awards 147,000 165,000 153,000 169,000 Diluted 26,178,000 26,682,000 26,251,000 26,815,000 Excluded RSUs and PSUs 19,000 45,000 33,000 47,000 LTIP PSUs 117,000 115,000 117,000 115,000 Deferred Non-Employee Director Equity Awards — 2,000 — 2,000

Reportable Operating Segments (

Reportable Operating Segments (Tables)	6 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Business Segments Information	Reportable operating segment information, with a reconciliation to the condensed consolidated statements of comprehensive income, was as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Net sales UGG brand wholesale $ 451,841 $ 361,305 $ 573,386 $ 499,167 HOKA brand wholesale 262,973 223,035 523,820 454,920 Teva brand wholesale 12,150 19,587 47,282 66,482 Sanuk brand wholesale 3,348 5,060 9,818 15,786 Other brands wholesale 29,862 27,559 31,289 29,552 Direct-to-Consumer 331,733 239,068 582,103 424,168 Total $ 1,091,907 $ 875,614 $ 1,767,698 $ 1,490,075 Income (loss) from operations UGG brand wholesale $ 165,902 $ 112,083 $ 182,768 $ 142,748 HOKA brand wholesale 81,873 63,576 168,397 133,192 Teva brand wholesale (647) 2,737 8,590 15,230 Sanuk brand wholesale (303) 350 456 2,816 Other brands wholesale 6,459 5,837 4,418 5,368 Direct-to-Consumer 112,255 59,936 187,717 101,156 Unallocated overhead costs (140,922) (116,688) (256,993) (216,338) Total $ 224,617 $ 127,831 $ 295,353 $ 184,172 Assets allocated to each reportable operating segment, with a reconciliation to the condensed consolidated balance sheets, are as follows: September 30, 2023 March 31, 2023 Assets UGG brand wholesale $ 740,892 $ 261,683 HOKA brand wholesale 361,699 446,450 Teva brand wholesale 48,519 94,735 Sanuk brand wholesale 30,971 41,405 Other brands wholesale 51,734 24,448 Direct-to-Consumer 258,211 219,194 Total assets from reportable operating segments 1,492,026 1,087,915 Unallocated cash and cash equivalents 823,051 981,795 Unallocated deferred tax assets, net 71,078 72,592 Unallocated other corporate assets 462,378 413,901 Total $ 2,848,533 $ 2,556,203

Concentration of Business (Tabl

Concentration of Business (Tables)	6 Months Ended
	Sep. 30, 2023
Risks and Uncertainties [Abstract]
Schedule of Revenue Concentration of Risk	The Company sells its products globally to customers and consumers in various countries, with net sales concentrations as follows: Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 International net sales $ 343,874 $ 257,905 $ 600,130 $ 487,851 % of net sales 31.5 % 29.5 % 33.9 % 32.7 % Net sales in foreign currencies $ 292,344 $ 193,130 $ 441,315 $ 302,071 % of net sales 26.8 % 22.1 % 25.0 % 20.3 % Ten largest global customers as % of net sales 33.6 % 40.1 % 27.9 % 30.1 %
Schedule of Long-lived Assets	Long-lived assets, which consist of property and equipment, net, recorded in the condensed consolidated balance sheets, are as follows: September 30, 2023 March 31, 2023 United States $ 270,047 $ 244,529 Foreign* 25,165 22,150 Total $ 295,212 $ 266,679 *No single foreign country’s property and equipment, net, represents 10.0% or more of the Company’s total property and equipment, net, as of September 30, 2023, and March 31, 2023.

General - Narrative (Details)

General - Narrative (Details)	6 Months Ended
	Sep. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	6

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Recovery Asset
Beginning balance	$ 15,685	$ 11,491
Net additions to sales return liability	24,298	26,444
Actual returns	(24,192)	(24,378)
Ending balance	15,791	13,557
Contract Liability
Beginning balance	(45,322)	(39,867)
Net additions to sales return liability	(106,824)	(84,336)
Actual returns	97,969	82,497
Ending balance	$ (54,177)	$ (41,706)

Revenue Recognition - Loyalty P

Revenue Recognition - Loyalty Programs (Details) - Loyalty Programs - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Contract with Customer, Loyalty Program [Roll Forward]
Beginning balance	$ (13,144)	$ (10,883)
Redemptions and expirations for loyalty certificates and points recognized in net sales	10,022	9,585
Deferred revenue for loyalty points and certificates issued	(11,269)	(10,106)
Ending balance	$ (14,391)	$ (11,404)

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue (Details) - Wholesale - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ (13,448)	$ (15,804)
Additions of customer cash payments	(33,089)	(31,503)
Revenue recognized	30,032	28,589
Ending balance	$ (16,505)	$ (18,718)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	$ 9,409	$ 8,399
Non-qualified deferred compensation liability	(13,603)	(11,326)
Other Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	9,409	8,399
Other Accrued Expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current deferred compensation liability	615	737
Other Long-Term Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncurrent deferred compensation liability	12,988	10,589
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market funds	489,021	675,468
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified deferred compensation asset	9,409	8,399
Non-qualified deferred compensation liability	(13,603)	(11,326)
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market funds	489,021	675,468
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]
Designated Derivative Contracts asset	4,968
Designated Derivative Contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Designated Derivative Contracts asset	0
Designated Derivative Contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Designated Derivative Contracts asset	4,968
Designated Derivative Contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Designated Derivative Contracts asset	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 55,770	$ 27,394	$ 73,582	$ 39,547
Effective income tax rate	23.80%	21.20%	23.30%	21.30%

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Undiscounted minimum lease payments	$ 29,935
Minimum
Lessee, Lease, Description [Line Items]
Operating lease renewal term (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease renewal term (in years)	15 years

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Supplemental Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease assets obtained in exchange for lease liabilities	$ 13,152	$ 7,002	$ 34,739	$ 13,209
Reductions to operating lease assets for reductions to lease liabilities	$ (7,606)	$ (132)	$ (7,671)	$ (408)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
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	$ 26,151
RSUs | Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued (in shares)	35,371	47,545
Award vesting period (in years)	3 years

Stock-Based Compensation - Annu

Stock-Based Compensation - Annual Awards (Details) - RSUs - Stock Incentive Plan 2015 - $ / shares	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	35,371	47,545
Weighted-average grant date fair value (in dollars per share)	$ 549.90	$ 334.74

Stock-Based Compensation - Long

Stock-Based Compensation - Long-Term Incentive Plan Awards (Details) - LTIP PSUs $ / shares in Units, $ in Thousands	6 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock compensation expense | $	$ 26,047
2024 | Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in months)	36 months
Issued (in shares) | shares	20,846
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 633.91
2024 | Maximum | Stock Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Award vesting rights percentage	200%

Derivative Instruments (Details

Derivative Instruments (Details)	3 Months Ended		6 Months Ended
	Sep. 30, 2023 USD ($) counterparty	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) counterparty	Sep. 30, 2022 USD ($)	Mar. 31, 2023 USD ($)
Foreign currency exchange contracts and hedging
Notional value					$ 0
Number of counterparties in derivative contracts | counterparty	3		3
Maturity period (in months)	6 months		6 months
Gain recorded in OCI	$ 4,705,000	$ 1,805,000	$ 5,116,000	$ 2,805,000
Reclassifications from AOCL into net sales	(170,000)	(369,000)	(149,000)	(369,000)
Income tax expense in OCI	(1,132,000)	(348,000)	(1,212,000)	(590,000)
Unrealized gain on cash flow hedges	3,403,000	1,088,000	3,755,000	1,846,000
Gain (loss) for non-designated derivative contracts	0	$ 1,836,000	$ 0	$ 1,916,000
Reclassification period of unrealized gain into net sales (in months)			6 months
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	115,721,000		$ 115,721,000
Fair value recorded in other current assets	$ 4,968,000		$ 4,968,000

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchase Programs (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Dollar value of shares that may yet be repurchased, excluding excise taxes	$ 1,145,697				$ 1,145,697
Dollar value of shares repurchased	$ 185,469	$ 25,469	$ 50,247	$ 99,993	$ 210,938	$ 150,240
Total number of shares repurchased (in shares)					399,388	557,675
Weighted average price paid per share (in dollars per share)	$ 528.15		$ 269.41		$ 528.15	$ 269.41

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended				6 Months Ended
	Oct. 12, 2023	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Class of Stock [Line Items]
Dollar value of shares that may yet be repurchased, excluding excise taxes		$ 1,145,697				$ 1,145,697
Shares repurchased (in shares)						399,388	557,675
Weighted average price paid per share (in dollars per share)		$ 528.15		$ 269.41		$ 528.15	$ 269.41
Dollar value of shares repurchased		$ 185,469	$ 25,469	$ 50,247	$ 99,993	$ 210,938	$ 150,240
Subsequent Event
Class of Stock [Line Items]
Dollar value of shares that may yet be repurchased, excluding excise taxes	$ 1,100,756
Shares repurchased (in shares)	88,928
Weighted average price paid per share (in dollars per share)	$ 505.36
Dollar value of shares repurchased	$ 44,941

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Unrealized gain on cash flow hedges	$ 3,755	$ 0
Cumulative foreign currency translation loss	(53,206)	(39,035)
Total	$ (49,451)	$ (39,035)

Basic and Diluted Shares (Detai

Basic and Diluted Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic (in shares)	26,031	26,517	26,098	26,646
Dilutive effect of equity awards (in shares)	147	165	153	169
Diluted (in shares)	26,178	26,682	26,251	26,815
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)	19	45	33	47
LTIP PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	117	115	117	115
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)	0	2	0	2

Reportable Operating Segments_2

Reportable Operating Segments (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)	Mar. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			6
Net sales	$ 1,091,907	$ 875,614	$ 1,767,698	$ 1,490,075
Income (loss) from operations	224,617	127,831	295,353	184,172
Assets	2,848,533		2,848,533		$ 2,556,203
Unallocated cash and cash equivalents	823,051		823,051		981,795
Unallocated deferred tax assets, net	71,078		71,078		72,592
Reportable segments
Segment Reporting Information [Line Items]
Assets	1,492,026		1,492,026		1,087,915
Reportable segments | UGG brand wholesale
Segment Reporting Information [Line Items]
Assets	740,892		740,892		261,683
Reportable segments | HOKA brand wholesale
Segment Reporting Information [Line Items]
Assets	361,699		361,699		446,450
Reportable segments | Teva brand wholesale
Segment Reporting Information [Line Items]
Assets	48,519		48,519		94,735
Reportable segments | Sanuk brand wholesale
Segment Reporting Information [Line Items]
Assets	30,971		30,971		41,405
Reportable segments | Other brands wholesale
Segment Reporting Information [Line Items]
Assets	51,734		51,734		24,448
Reportable segments | Direct-to-Consumer
Segment Reporting Information [Line Items]
Assets	258,211		258,211		219,194
Segment reconciling items
Segment Reporting Information [Line Items]
Income (loss) from operations	(140,922)	(116,688)	(256,993)	(216,338)
Unallocated cash and cash equivalents	823,051		823,051		981,795
Unallocated deferred tax assets, net	71,078		71,078		72,592
Corporate
Segment Reporting Information [Line Items]
Unallocated other corporate assets	462,378		462,378		$ 413,901
Wholesale | UGG brand wholesale
Segment Reporting Information [Line Items]
Net sales	451,841	361,305	573,386	499,167
Wholesale | HOKA brand wholesale
Segment Reporting Information [Line Items]
Net sales	262,973	223,035	523,820	454,920
Wholesale | Teva brand wholesale
Segment Reporting Information [Line Items]
Net sales	12,150	19,587	47,282	66,482
Wholesale | Sanuk brand wholesale
Segment Reporting Information [Line Items]
Net sales	3,348	5,060	9,818	15,786
Wholesale | Other brands wholesale
Segment Reporting Information [Line Items]
Net sales	29,862	27,559	31,289	29,552
Wholesale | Reportable segments | UGG brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	165,902	112,083	182,768	142,748
Wholesale | Reportable segments | HOKA brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	81,873	63,576	168,397	133,192
Wholesale | Reportable segments | Teva brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	(647)	2,737	8,590	15,230
Wholesale | Reportable segments | Sanuk brand wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	(303)	350	456	2,816
Wholesale | Reportable segments | Other brands wholesale
Segment Reporting Information [Line Items]
Income (loss) from operations	6,459	5,837	4,418	5,368
Direct-to-Consumer | Direct-to-Consumer
Segment Reporting Information [Line Items]
Net sales	331,733	239,068	582,103	424,168
Direct-to-Consumer | Reportable segments | Direct-to-Consumer
Segment Reporting Information [Line Items]
Income (loss) from operations	$ 112,255	$ 59,936	$ 187,717	$ 101,156

Concentration of Business (Deta

Concentration of Business (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023 USD ($) tannery	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) tannery	Sep. 30, 2022 USD ($)	Mar. 31, 2023 USD ($)
Concentration Risk [Line Items]
Net sales	$ 1,091,907	$ 875,614	$ 1,767,698	$ 1,490,075
Number of tanneries | tannery	2		2
Long-lived assets	$ 295,212		$ 295,212		$ 266,679
Sales Revenue, Net | Customer Concentration Risk | 10 Largest Customers
Concentration Risk [Line Items]
Concentration risk	33.60%	40.10%	27.90%	30.10%
Trade Accounts Receivable | Customer Concentration Risk | Two Customers
Concentration Risk [Line Items]
Concentration risk			24%
Foreign
Concentration Risk [Line Items]
Long-lived assets	$ 25,165		$ 25,165		22,150
Foreign | International net sales
Concentration Risk [Line Items]
Net sales	343,874	$ 257,905	600,130	$ 487,851
Foreign | Net sales in foreign currencies
Concentration Risk [Line Items]
Net sales	$ 292,344	$ 193,130	$ 441,315	$ 302,071
Foreign | Sales Revenue, Net | International net sales
Concentration Risk [Line Items]
Concentration risk	31.50%	29.50%	33.90%	32.70%
Foreign | Sales Revenue, Net | Net sales in foreign currencies
Concentration Risk [Line Items]
Concentration risk	26.80%	22.10%	25%	20.30%
United States
Concentration Risk [Line Items]
Long-lived assets	$ 270,047		$ 270,047		$ 244,529

Supplier Finance Program (Detai

Supplier Finance Program (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Payables and Accruals [Abstract]
Supplier finance programs, current portion	$ 7,513	$ 7,740