v3.26.1
SEGMENT DATA
 12 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT DATA
NOTE 17. SEGMENT DATA
The Company's operating segments are based on how the President and Chief Executive Officer, who has been identified as the CODM, makes decisions about allocating resources and assessing performance.
The CODM receives discrete financial information for the Company's principal business by geographic region based on the Company's strategy of being a global brand. These geographic regions include North America, EMEA, Asia-Pacific and Latin America. Each geographic segment operates exclusively in one industry: the development, marketing and distribution of branded performance apparel, footwear and accessories.
The CODM uses operating income (loss) as the measure of profit or loss when making decisions about the allocation of resources to each operating segment during the annual budget and forecasting process, taking into consideration performance against management expectations and performance against other operating segment
results. Segment assets and expenditures for additions to long-lived assets are not disclosed as this information is not regularly provided to the CODM.
The Company excludes certain corporate items from its segment profitability measures. The Company reports these items within Corporate Other, which is designed to provide increased transparency and comparability of the Company's operating segments' performance. Corporate Other consists primarily of (i) general and administrative expenses not allocated to an operating segment, including expenses associated with centrally managed departments such as global marketing, global information technology, global supply chain and innovation, and other corporate support functions; (ii) restructuring and restructuring related charges, if any; (iii) certain foreign currency hedge gains and losses; and (iv) operating results from the MapMyFitness digital platform, which was sold during the second quarter of Fiscal 2025.
The following tables summarize the Company's net revenues, significant expenses and operating income (loss) by its geographic segments, including a reconciliation to income before taxes. Other segment expenses generally include cost of goods sold, as well as selling, general and administrative costs including compensation-related expenses, facility-related expenses, selling and distribution expenses, consulting expenses, depreciation and amortization, bad debt, and other miscellaneous expenses. Intercompany balances are eliminated in consolidation and are not reviewed when evaluating segment performance.
Year Ended March 31, 2026
North AmericaEMEAAsia-PacificLatin AmericaTotal Reportable SegmentsCorporate OtherTotal
Net revenues$2,859,420 $1,180,510 $719,134 $234,191 $4,993,255 $(26,885)$4,966,370 
Less:
Marketing and advertising costs212,677 123,916 76,973 9,489 423,055 79,235 502,290 
Other segment expenses(1)
2,204,240 865,107 557,695 194,801 3,821,843 805,349 4,627,192 
Total operating income (loss)$442,503 $191,487 $84,466 $29,901 $748,357 $(911,469)$(163,112)
Interest income (expense), net(30,288)
Other income (expense), net(7,276)
Income (loss) before income taxes$(200,676)
Supplemental Information:
Depreciation and amortization$34,185 $15,143 $23,642 $1,367 $74,337 $35,286 $109,623 
(1) Other segment expenses within Corporate Other includes $171.5 million of restructuring and related charges incurred under the 2025 restructuring plan (refer to Note 11) and $98.5 million of litigation reserve expense related to the previously disclosed insurance carrier litigation proceedings (refer to Note 8).
Year Ended March 31, 2025
North AmericaEMEAAsia-PacificLatin AmericaTotal Reportable SegmentsCorporate OtherTotal
Net revenues$3,105,624 $1,086,578 $755,437 $215,427 $5,163,066 $1,244 $5,164,310 
Less:
Marketing and advertising costs222,762 128,461 87,053 6,778 445,054 104,798 549,852 
Other segment expenses(1)
2,253,344 810,935 595,197 161,117 3,820,593 979,081 4,799,674 
Total operating income (loss)$629,518 $147,182 $73,187 $47,532 $897,419 $(1,082,635)$(185,216)
Interest income (expense), net(6,115)
Other income (expense), net(13,431)
Income (loss) before income taxes$(204,762)
Supplemental Information:
Depreciation and amortization$39,412 $10,060 $26,465 $1,736 $77,673 $58,131 $135,804 
(1) Other segment expenses within Corporate Other includes $89.2 million of restructuring and related charges incurred under the 2025 restructuring plan (refer to Note 11), an impairment charge of $28.4 million relating to vacating the Company's former global headquarters and $261.0 million of litigation expense, net of insurance proceeds, related to the settlement of the Class Action Securities litigation (refer to Note 10 to the Consolidated Financial Statements in Part II, Item 8 of the Company's Annual Report on Form 10-K for Fiscal 2025).
Year ended March 31, 2024
North AmericaEMEAAsia-PacificLatin AmericaTotal Reportable SegmentsCorporate OtherTotal
Net revenues$3,505,167 $1,081,915 $873,019 $229,481 $5,689,582 $12,297 $5,701,879 
Less:
Marketing and advertising costs252,892 100,490 100,129 10,532 464,043 104,461 568,504 
Other segment expenses2,574,393 805,220 653,240 180,548 4,213,401 690,223 4,903,624 
Total operating income (loss)$677,882 $176,205 $119,650 $38,401 $1,012,138 $(782,387)$229,751 
Interest income (expense), net268 
Other income (expense), net32,055 
Income (loss) before income taxes$262,074 
Supplemental Information:
Depreciation and amortization$51,362 $10,345 $26,016 $1,994 $89,717 $52,873 $142,590 

The following table further disaggregates the Company's net revenues by geographic area, based on shipping destination:
Year Ended March 31,
202620252024
United States$2,570,647 $2,817,170 $3,172,245 
Other countries2,422,608 2,345,896 2,517,337 
Total reportable segments4,993,255 5,163,066 5,689,582 
Corporate other(26,885)1,244 12,297 
Total net revenues$4,966,370 $5,164,310 $5,701,879 
For Fiscal 2026, Fiscal 2025 and Fiscal 2024, no single customer accounted for more than 10% of the Company's net revenues.

Long-lived assets are primarily composed of property and equipment, net and operating lease right-of-use assets. The Company's long-lived assets by geographic area were as follows:
March 31, 2026March 31, 2025
United States$789,310 $815,903 
Other countries239,265 213,585 
Total long-lived assets$1,028,575 $1,029,488