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Tables in the 10-K of DECKERS OUTDOOR CORP

64 tables with numbers, filed May 24, 2024. Each one downloads as a CSV for Excel or Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed. Open the filing on sec.gov ↗

		Page
	Cautionary Note Regarding Forward-Looking Statements	2
	PART I
Item 1.	Business	3
Item 1A.	Risk Factors	13
Item 1B.	Unresolved Staff Comments	*
Item 1C.	Cybersecurity	29
Item 2.	Properties	30

Facility Location	Description	Lease or Own	Facility Size (Square Footage)
Moreno Valley, California	Warehouse and Distribution Center	Lease	1,530,944
Mooresville, Indiana (1st location)	Warehouse and Distribution Center	Lease	507,600
Mooresville, Indiana (2nd location)	Warehouse and Distribution Center	Lease	1,015,902
Goleta, California	Corporate Headquarters	Own	185,094

	Years Ended March 31,
	2019	2020		2021	2022	2023		2024
Deckers Outdoor Corporation	$100.0		$91.2		$224.8		$186.3		$305.8	$640.2
S&P 500 Index	100.0		93.0		145.4		168.2		155.2	201.6
S&P 500 Apparel, Accessories & Luxury Goods Index	100.0		49.8		101.5		80.3		55.6	47.3
The NYSE Composite Index	100.0		83.4		129.3		141.0		133.3	162.7

	Total number of shares repurchased (1)	Weighted average price per share paid		Dollar value of shares repurchased (2) (3)	Dollar value of shares remaining for repurchase (3)
January 1 - January 31, 2024	—		$—		$—	$1,046,000
February 1 - February 29, 2024	87,196		859.94		74,983	971,017
March 1 - March 31, 2024	31,998		916.10		29,313	941,704

	Payments Due by Period
	Total	Less than 1 Year		1-3 Years	3-5 Years	More than 5 Years
Operating lease obligations (1)	$303,914		$59,556		$108,904		$71,318	$64,136
Purchase obligations for product (2)	868,282		868,282		—		—	—
Purchase obligations for commodities (3)	119,332		56,384		62,948		—	—
Other purchase obligations (4)	222,412		106,163		106,248		10,001	—
Net unrecognized tax benefits (5)	24,460		3,158		21,302		—	—
Total	$1,538,400		$1,093,543		$299,402		$81,319	$64,136

	As of March 31,
	2024	2023
	Amount	% of Gross Trade Accounts Receivable		Amount	% of Gross Trade Accounts Receivable
Gross trade accounts receivable	$323,896		100.0%		$334,015	100.0%
Allowance for doubtful accounts	(9,109)		(2.8)		(10,576)	(3.2)
Allowance for sales discounts	(3,840)		(1.2)		(5,656)	(1.7)
Allowance for chargebacks	(14,382)		(4.4)		(16,272)	(4.8)
Trade accounts receivable, net	$296,565		91.6%		$301,511	90.3%

	Three Months Ended March 31,
	2024	2023
	Amount	% of Net Sales		Amount	% of Net Sales
Net Sales
Wholesale	$544,551		56.7%		$448,425	56.7%
Direct-to-Consumer	415,207		43.3		343,146	43.3
Total	$959,758		100.0%		$791,571	100.0%
	As of March 31,

Name & Title	Adoption Date	Termination Date	Contract End Date	Aggregate Shares Covered (in ones)
Stefano Caroti, Chief Commercial Officer	March 7, 2024	*	August 31, 2024	10,000
Steven Fasching, Chief Financial Officer	November 6, 2023	February 9, 2024 (1)	May 31, 2024	5,000

Exhibit Number	Description of Exhibit
3.1	Amended and Restated Certificate of Incorporation of Deckers Outdoor Corporation, as amended through May 27, 2010 (Exhibit 3.1 to the Registrant's Form 10-Q filed on August 9, 2010, and incorporated by reference herein)
3.2	Amended and Restated Bylaws of Deckers Outdoor Corporation, as amended through June 5, 2018 (Exhibit 3.1 to the Registrant’s Form 8-K filed on June 5, 2018, and incorporated by reference herein)
4.1	Description of the Capital Stock of Deckers Outdoor Corporation (Exhibit 4.1 to the Registrant’s Form 10-K filed on May 27, 2022, and incorporated by reference herein)

Exhibit Number	Description of Exhibit
10.1	Credit Agreement, dated December 19, 2022, by and among Deckers Outdoor Corporation, Deckers Europe Limited, Deckers UK Ltd., Deckers Benelux B.V., Deckers Outdoor Canada ULC, Deckers Outdoor International Limited, Deckers Coromar, LLC, DBrands SGP Pte. Ltd., Citibank, N.A., as administrative agent, joint lead arranger and joint bookrunner, Comerica Bank, as sole syndication agent, joint lead arranger and joint bookrunner, HSBC Bank USA, National Association, as joint lead arranger and joint bookrunner, and the lenders party thereto (Exhibit 10.1 to the Registrant’s Form 8-K filed on December 21, 2022, and incorporated by reference herein)
†10.2	Standard Industrial Lease (Net), dated December 5, 2013, by and between Moreno Knox, LLC, and Deckers Outdoor Corporation for distribution center at 17791 Perris Blvd., Moreno Valley, CA 92551 (Exhibit 10.6 to the Registrant’s Form 10-K filed on March 3, 2014, and incorporated by reference herein)
†10.3	First Amendment to Standard Industrial Lease (Net), dated June 6, 2017, by and between Moreno Knox, LLC, and Deckers Outdoor Corporation for distribution center at 17791 Perris Blvd., Moreno Valley, CA 92551 (Exhibit 10.6 to the Registrant’s Form 10-K filed on May 30, 2018, and incorporated by reference herein)
10.4	Second Amendment to Standard Industrial Lease (Net), dated July 17, 2017, by and between Moreno Knox, LLC, and Deckers Outdoor Corporation for distribution center at 17791 Perris Blvd., Moreno Valley, CA 92551 (Exhibit 10.7 to the Registrant’s Form 10-K filed on May 30, 2018, and incorporated by reference herein)
†10.5	Standard Industrial Lease (Net), dated February 10, 2021, by and between Westpoint Building II, LLC and Deckers Outdoor Corporation for distribution center at 2633 Westpoint Blvd., Mooresville, IN 46158 (Exhibit 10.4 to the Registrant’s Form 10-K filed on May 28, 2021, and incorporated by reference herein)
†10.6	Standard Industrial Lease (Net), dated April 20, 2022, by and between Westpoint Building V, LLC, and Deckers Outdoor Corporation for distribution center at 2723 Westpoint Blvd., Mooresville, IN 46158 (Exhibit 10.5 to the Registrant’s Form 10-K filed on May 27, 2022, and incorporated by reference herein)
#10.7	Form of Indemnification Agreement (Exhibit 10.1 to the Registrant’s Form 8-K filed on June 2, 2008, and incorporated by reference herein)

	Years Ended March 31,
	2024		2023		Change
	Amount	%			Amount	%		Amount	%
Net sales	$4,287,763			100.0%			$3,627,286		100.0%	$660,477	18.2%
Cost of sales	1,902,275			44.4			1,801,916		49.7	(100,359)	(5.6)
Gross profit	2,385,488			55.6			1,825,370		50.3	560,118	30.7
Selling, general, and administrative expenses	1,457,974			34.0			1,172,619		32.3	(285,355)	(24.3)
Income from operations	927,514			21.6			652,751		18.0	274,763	42.1

	Years Ended March 31,
	2024	2023		Change
	Amount	Amount		Amount	%
Net sales by location
Domestic	$2,863,674		$2,451,497			$412,177	16.8%
International	1,424,089		1,175,789			248,300	21.1
Total	$4,287,763		$3,627,286			$660,477	18.2%
Net sales by brand and channel

	Years Ended March 31,
	2024	2023		Change
	Amount	Amount		Amount	%
Sanuk brand
Wholesale	17,175		27,678			(10,503)	(37.9)
Direct-to-Consumer	8,274		10,288			(2,014)	(19.6)
Total	25,449		37,966			(12,517)	(33.0)
Other brands

	Years Ended March 31,
	2024	2023		Change
	Amount	Amount		Amount	%
Income (loss) from operations
UGG brand wholesale	$349,509		$267,013			$82,496	30.9%
HOKA brand wholesale	376,286		285,257			91,029	31.9
Teva brand wholesale	18,685		32,595			(13,910)	(42.7)
Sanuk brand wholesale	(12,836)		2,891			(15,727)	(544.0)

Exhibit Number	Description of Exhibit
†#10.19	Form of Restricted Stock Unit Award Agreement under Deckers Outdoor Corporation 2015 Stock Incentive Plan FY 2022 LTIP Financial Performance Award (Exhibit 10.28 to the Registrant’s Form 10-K filed on May 27, 2022, and incorporated by reference herein)
#10.20	Form of Stock Unit Award Agreement (2023 Time-Based RSU) under Deckers Outdoor Corporation 2015 Stock Incentive Plan (Exhibit 10.26 to the Registrant’s Form 10-K filed on May 26, 2023, and incorporated by reference herein)
†#10.21	Form of Restricted Stock Unit Award Agreement under Deckers Outdoor Corporation 2015 Stock Incentive Plan FY 2023 LTIP Financial Performance Award (Exhibit 10.27 to the Registrant’s Form 10-K filed on May 26, 2023, and incorporated by reference herein)
†#10.22	Form of Restricted Stock Unit Award Agreement under Deckers Outdoor Corporation 2015 Stock Incentive Plan FY 2023 LTIP Financial Performance Award, 2-year term (Exhibit 10.28 to the Registrant’s Form 10-K filed on May 26, 2023, and incorporated by reference herein)
*#10.23	Form of Stock Unit Award Agreement (2024 Time-Based RSU) under Deckers Outdoor Corporation 2015 Stock Incentive Plan
†*#10.24	Form of Restricted Stock Unit Award Agreement under Deckers Outdoor Corporation 2015 Stock Incentive Plan FY 2024 LTIP Financial Performance Award
*19.1	Insider Trading Policy

/s/ DAVE POWERS	Chief Executive Officer, President, and Director (Principal Executive Officer)	May 24, 2024
Dave Powers
/s/ STEVEN J. FASCHING	Chief Financial Officer (Principal Financial and Accounting Officer)	May 24, 2024
Steven J. Fasching
/s/ MICHAEL F. DEVINE, III	Chair of the Board	May 24, 2024
Michael F. Devine, III
/s/ DAVID A. BURWICK	Director	May 24, 2024
David A. Burwick

	Page
Consolidated Financial Statements:
Report of Independent Registered Public Accounting Firm - Consolidated Financial Statements (KPMG LLP, Los Angeles, CA, Auditor Firm ID: 185)	F-2
Report of Independent Registered Public Accounting Firm - Internal Control Over Financial Reporting(KPMG LLP, Los Angeles, CA, Auditor Firm ID: 185)	F-4
Consolidated Balance Sheets	F-5
Consolidated Statements of Comprehensive Income	F-6
Consolidated Statements of Stockholders’ Equity	F-7
Consolidated Statements of Cash Flows	F-8

	Common Stock	Additional Paid-in Capital		Retained Earnings	Accumulated Other Comprehensive Loss	Total Stockholders’ Equity
	Shares	Amount
Balance, March 31, 2021	27,910		$279		$203,310		$1,257,379	$(16,743)	$1,444,225
Stock-based compensation	4		—		26,780		—	—	26,780
Shares issued upon vesting	83		1		1,990		—	—	1,991
Exercise of stock options	29		—		1,204		—	—	1,204
Shares withheld for taxes	—		—		(22,459)		—	—	(22,459)
Repurchases of common stock (Note 10)	(1,044)		(10)		—		(356,643)	—	(356,653)

Standard	Description	Planned Period of Adoption	Expected Impact on Adoption
ASU 2023-07 - Improvements to Reportable Segment Disclosures	The ASU requires annual and interim disclosures of significant segment expenses, including an amount and composition description for other segment items, and how reported measures of profit or loss are used by the chief operating decision maker (CODM) in assessing segment performance and deciding how to allocate resources. The ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted.	Q4 FY 2025and Q1 FY 2026	The Company is currently evaluating the impact of the adoption of this ASU on its annual and interim consolidated financial statements.
ASU 2023-09 - Improvements to Income Tax Disclosures	The ASU requires annual disclosures of prescribed standard categories for the components of the effective tax rate reconciliation, disclosure of income taxes paid disaggregated by jurisdiction, and other income-tax related disclosures. The ASU is effective on a prospective basis, with retrospective application permitted, for fiscal years beginning after December 15, 2024. Early adoption is permitted.	Q4 FY 2026	The Company is currently evaluating the impact of the adoption of this ASU on its annual and interim consolidated financial statements.

		As of March 31,
	Useful life (years)	2024	2023
Land	Indefinite	$32,864		$32,864
Building	39.5	40,058		36,191
Machinery and equipment	1-10	263,200		187,754
Furniture and fixtures	3-7	41,336		39,538
Computer software	3-10	130,688		115,349
Leasehold improvements	1-11	128,356		118,351

	Recovery Asset	Refund Liability
Balance, March 31, 2022	$11,491		$(39,867)
Net additions to sales return liability (1)	67,249		(229,864)
Actual returns	(63,055)		224,409
Balance, March 31, 2023	15,685		(45,322)
Net additions to sales return liability (1)	60,789		(276,086)
Actual returns	(62,608)		266,081
Balance, March 31, 2024	$13,866		$(55,327)

Years Ending March 31,	Amounts
2025	$1,402
2026	911
2027	879
2028	879
2029	879
Thereafter	6,679
Total	$11,629

	As of		Measured Using
	March 31, 2024	Level 1		Level 2	Level 3
Assets:
Cash equivalents:
Money-market funds	$1,152,083			$1,152,083		$—	$—
Other assets:
Non-qualified deferred compensation asset	13,553			13,553		—	—
Total assets measured at fair value	$1,165,636			$1,165,636		$—	$—

	As of		Measured Using
	March 31, 2023	Level 1		Level 2	Level 3
Assets:
Cash equivalents:
Money-market funds	$675,468			$675,468		$—	$—
Other assets:
Non-qualified deferred compensation asset	8,399			8,399		—	—
Total assets measured at fair value	$683,867			$683,867		$—	$—

Tables in the 10-K of DECKERS OUTDOOR CORP

Table 1 after “TABLE OF CONTENTS”

Table 2 after “The following table provides details regarding our significant physical properties that are operational as of March 31, 2024:”

Table 3 after “Table of Contents”

Table 4 after “Stock repurchase activity under our stock repurchase program during the three months ended March 31, 2024, was as follows:”

Table 5 after “Results of operations were as follows:”

Table 6 after “Net sales by location, and by brand and channel were as follows:”

Table 7 after “Table of Contents”

Table 8 after “Income (loss) from operations by reportable operating segment were as follows:”

Table 9 after “Income tax expense and our effective income tax rate were as follows:”

Table 10 after “The following table summarizes our significant contractual obligations as of March 31, 2024, in future periods:”

Table 11 after “The following table summarizes the major components of our consolidated statements of cash flows for the periods presented:”

Table 12 after “The following table summarizes critical accounting estimates for accounts receivable allowances and reserves:”

Table 13 after “The following tables summarize estimates for our sales return liability as a percentage of the most recent quarterly net sales by channel:”

Table 14 after “The following tables summarize estimates for our inventories:”

Table 15 after “activity of our directors and officers in respect of their Rule 10b5-1 trading plans during the three months ended March 31, 2024:”

Table 16 after “EXHIBIT INDEX”

Table 17 after “Table of Contents”

Table 18 after “Table of Contents”

Table 19 after “Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of”

Table 20 after “AND FINANCIAL STATEMENT SCHEDULE”

Table 21 after “(dollar and share data amounts in thousands, except par value)”

Table 22 after “(dollar and share data amounts in thousands, except per share data)”

Table 23 after “(amounts in thousands)”

Table 24 after “(amounts in thousands)”

Table 25 after “(continued)”

Table 26 after “The following is a summary of each ASU that has been issued and is applicable to the Company, but which has not yet been adopted, as well as”

Table 27 after “Property and equipment, net, are summarized as follows:”

Table 28 after “The Company’s asset retirement obligations (AROs) are recorded in other long-term liabilities in the consolidated balance sheets and activit”

Table 29 after “The following table summarizes changes in the estimated sales returns for the periods presented:”

Table 30 after “Activity related to loyalty programs was as follows:”

Table 31 after “Activity related to deferred revenue was as follows:”

Table 32 after “The Company’s goodwill and other intangible assets are recorded in the consolidated balance sheets as follows:”

Table 33 after “(dollar amounts in thousands, except per share or share data)”

Table 34 after “A reconciliation of the changes in total other intangible assets, net, recorded in the consolidated balance sheets is as follows:”

Table 35 after “Expected amortization expense for definite-lived intangible assets subsequent to March 31, 2024, is as follows:”

Table 36 after “Assets and liabilities that are measured on a recurring basis at fair value in the consolidated balance sheets are as follows:”

Table 37 after “Assets and liabilities that are measured on a recurring basis at fair value in the consolidated balance sheets are as follows:”

Table 38 after “Components of income before income taxes recorded in the consolidated statements of comprehensive income were as follows:”

Table 39 after “Components of income tax expense (benefit) recorded in the consolidated statements of comprehensive income were as follows:”

Table 40 after “Income tax expense (benefit) differed from that obtained by applying the statutory federal income tax rate to income before income taxes as ”

Table 41 after “The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as f”

Table 42 after “A reconciliation of the beginning and ending amounts of total gross unrecognized tax benefits are as follows:”

Table 43 after “Total gross unrecognized tax benefits recorded in the consolidated balance sheets are as follows:”

Table 44 after “. The components of rent expense for operating leases recorded in SG&A expenses in the consolidated statements of comprehensive income were ”

Table 45 after “Maturities of undiscounted operating lease liabilities remaining as of March 31, 2024, with a reconciliation to the present value of operati”

Table 46 after “. Key estimates and judgments related to operating lease assets and lease liabilities that are outstanding and presented in the consolidated”

Table 47 after “Supplemental information for amounts presented in the consolidated statements of cash flows related to operating leases, were as follows:”

Table 48 after “A summary of the status and changes of the Company’s nonvested shares related to the 2015 SIP is as follows:”

Table 49 after “LTIP NQSO activity was as follows:”

Table 50 after “Components of stock-based compensation recorded, net of estimated forfeitures, in SG&A expenses in the consolidated statements of comprehens”

Table 51 after “Total remaining unrecognized stock-based compensation as of March 31, 2024, related to non-vested awards that the Company considers probable”

Table 52 after “outstanding derivative contracts. The Company settled derivative contracts with notional values as follows:”

Table 53 after “The following table summarizes the effect of Designated Derivative Contracts on unrealized gains or losses recorded in the consolidated stat”

Table 54 after “Stock repurchase activity under the Company’s stock repurchase program was as follows:”

Table 55 after “The components within AOCL, net of tax, recorded in the consolidated balance sheets are as follows:”

Table 56 after “The reconciliation of basic to diluted weighted-average common shares outstanding was as follows:”

Table 57 after “Reportable operating segment information, with a reconciliation to the consolidated statements of comprehensive income, was as follows:”

Table 58 after “(dollar amounts in thousands, except per share or share data)”

Table 59 after “Assets allocated to each reportable operating segment, with a reconciliation to the consolidated balance sheets, are as follows:”

Table 60 after “The Company sells its products globally to customers and consumers in various countries, with net sales concentrations as follows:”

Table 61 after “Long-lived assets, which consist of property and equipment, net, recorded in the consolidated balance sheets, are as follows:”

Table 62 after “The following is summarized unaudited quarterly financial data for the last two fiscal years:”

Table 63 after “The following is summarized unaudited quarterly financial data for the last two fiscal years:”

Table 64 after “Allowances for doubtful accounts, sales discounts, and chargebacks against gross trade accounts receivable related to wholesale channel sale”

	RSUs	LTIP PSUs
	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Nonvested, March 31, 2021	113,086		$179.58		116,128	$215.30
Granted (1)	52,256		363.89		69,644	358.75
Vested (2)	(60,034)		(162.37)		(69,816)	(131.33)
Forfeited	(7,441)		(239.39)		(12,924)	(239.81)
Nonvested, March 31, 2022	97,867		284.00		103,032	344.25
Granted (1)	51,955		338.99		65,470	330.70

	Number of Shares	Weighted-AverageExercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Exercisable, March 31, 2023	85,889		$66.99
Exercised	(70,980)		(67.43)
Exercisable, March 31, 2024	14,909		$64.85		1.3	$13,066

	Unrecognized Stock-based Compensation	Weighted-Average Remaining Vesting Period (Years)
RSUs	$18,350		1.1
LTIP PSUs	21,095		1.4
Total	$39,445

	Fiscal Year 2024
	Quarter Ended
	6/30/2023	9/30/2023		12/31/2023	3/31/2024
Net sales	$675,791		$1,091,907		$1,560,307	$959,758
Gross profit	346,424		583,019		916,569	539,476
Income from operations	70,736		224,617		487,899	144,262
Net income	63,552		178,547		389,919	127,545
Net income per share

	Fiscal Year 2023
	Quarter Ended
	6/30/2022	9/30/2022		12/31/2022	3/31/2023
Net sales	$614,461		$875,614		$1,345,640	$791,571
Gross profit	294,752		421,921		712,529	396,168
Income from operations	56,341		127,831		362,660	105,919
Net income	44,849		101,524		278,662	91,787
Net income per share