← Filings of DECK
Tables in the 10-K of DECKERS OUTDOOR CORP
65 tables with numbers, filed May 23, 2025. 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 | 12 |
| Item 1B. | Unresolved Staff Comments | 26 |
| Item 1C. | Cybersecurity | 27 |
| Item 2. | Properties | 28 |
First 8 of 32 rows. The CSV has all of them.
Table 2 after “The following table provides details regarding our significant physical properties that are operational as of March 31, 2025:”
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| 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, | | | | | | | | | |
| 2020 | 2021 | | 2022 | 2023 | 2024 | | 2025 | | |
| Deckers Outdoor Corporation | $100.00 | | $246.58 | | $204.31 | | $335.44 | | $702.26 | $500.46 |
| S&P 500 Index | 100.00 | | 156.35 | | 180.81 | | 166.84 | | 216.69 | 234.57 |
| S&P 500 Apparel, Accessories & Luxury Goods Index | 100.00 | | 204.01 | | 161.34 | | 111.79 | | 95.06 | 86.86 |
Table 4 after “Stock repurchase activity under our stock repurchase program during the three months ended March 31, 2025, was as follows:”
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| Total Number of Shares Repurchased (1) | Weighted Average Price per Share | | Dollar Value of Shares Repurchased (2) (3) | Dollar Value of Shares Remaining for Repurchase (3) | |
| January 1 - January 31, 2025 | 8,087 | | $185.46 | | $1,500 | $639,192 |
| February 1 - February 28, 2025 | 1,252,130 | | 160.92 | | 201,492 | 437,700 |
| March 1 - March 31, 2025 | 517,524 | | 121.73 | | 62,999 | 374,701 |
| Total | 1,777,741 | | 149.62 | | $265,991 | 374,701 |
Table 5 after “Results of operations were as follows:”
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| Years Ended March 31, | | | | | | | | | | | | |
| 2025 | | 2024 | | Change | | | | | | | | |
| Amount | % | | | Amount | % | | Amount | % | | | | |
| Net sales | $4,985,612 | | | 100.0% | | | $4,287,763 | | 100.0% | | $697,849 | | 16.3% |
| Cost of sales | 2,099,949 | | | 42.1 | | | 1,902,275 | | 44.4 | | (197,674) | | (10.4) |
| Gross profit | 2,885,663 | | | 57.9 | | | 2,385,488 | | 55.6 | | 500,175 | | 21.0 |
| Selling, general, and administrative expenses | 1,706,571 | | | 34.3 | | | 1,457,974 | | 34.0 | | (248,597) | | (17.1) |
| Income from operations | 1,179,092 | | | 23.6 | | | 927,514 | | 21.6 | | 251,578 | | 27.1 |
First 8 of 17 rows. The CSV has all of them.
Table 6 after “Net sales by brand, channel, and geography were as follows:”
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| Years Ended March 31, | | | | | | |
| 2025 | 2024 | | Change | | | |
| Amount | Amount | | Amount | % | | |
| Net sales by brand | | | | | | | |
| UGG brand | | | | | | | |
| Wholesale | $1,282,319 | | $1,115,241 | | | $167,078 | 15.0% |
| Direct-to-Consumer | 1,249,032 | | 1,123,891 | | | 125,141 | 11.1 |
| Total | 2,531,351 | | 2,239,132 | | | 292,219 | 13.1 |
First 8 of 21 rows. The CSV has all of them.
| Years Ended March 31, | | | | | | |
| 2025 | 2024 | | Change | | | |
| Amount | Amount | | Amount | % | | |
| Net sales by geography | | | | | | | |
| Domestic | $3,186,709 | | $2,863,674 | | | $323,035 | 11.3% |
| International | 1,798,903 | | 1,424,089 | | | 374,814 | 26.3 |
| Total (1) | $4,985,612 | | $4,287,763 | | | $697,849 | 16.3% |
Table 8 after “Income (loss) from operations by reportable operating segment was as follows:”
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| Years Ended March 31, | | | | | | |
| 2025 | 2024 | | Change | | | |
| Amount | Amount | | Amount | % | | |
| Income (loss) from operations | | | | | | | |
| UGG brand | $1,002,873 | | $804,827 | | | $198,046 | 24.6% |
| HOKA brand | 848,505 | | 719,047 | | | 129,458 | 18.0 |
| Other brands (1) (2) | 34,578 | | 23,721 | | | 10,857 | 45.8 |
| Unallocated enterprise and shared brand expenses (3) | (706,864) | | (620,081) | | | (86,783) | (14.0) |
First 8 of 9 rows. The CSV has all of them.
Table 9 after “Income tax expense and our effective income tax rate were as follows:”
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| Years Ended March 31, | | |
| 2025 | 2024 | |
| Income tax expense | $277,208 | $219,378 | |
| Effective income tax rate | 22.3% | | 22.4% |
Table 10 after “Results of operations were as follows:”
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| 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 |
First 8 of 17 rows. The CSV has all of them.
Table 11 after “Net sales by brand, channel, and geography were as follows:”
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| Years Ended March 31, | | | | | | |
| 2024 | 2023 | | Change | | | |
| Amount | Amount | | Amount | % | | |
| Net sales by brand | | | | | | | |
| UGG brand | | | | | | | |
| Wholesale | $1,115,241 | | $1,004,356 | | | $110,885 | 11.0% |
| Direct-to-Consumer | 1,123,891 | | 924,855 | | | 199,036 | 21.5 |
| Total | 2,239,132 | | 1,929,211 | | | 309,921 | 16.1 |
First 8 of 25 rows. The CSV has all of them.
Table 12 after “Income (loss) from operations by reportable operating segment was as follows:”
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| Years Ended March 31, | | | | | | |
| 2024 | 2023 | | Change | | | |
| Amount | Amount | | Amount | % | | |
| Income (loss) from operations | | | | | | | |
| UGG brand | $804,827 | | $572,469 | | | $232,358 | 40.6% |
| HOKA brand | 719,047 | | 528,458 | | | 190,589 | 36.1 |
| Other brands (1) | 23,721 | | 49,502 | | | (25,781) | (52.1) |
| Unallocated enterprise and shared brand expenses (2) | (620,081) | | (497,678) | | | (122,403) | (24.6) |
First 8 of 9 rows. The CSV has all of them.
Table 13 after “Income tax expense and our effective income tax rate were as follows:”
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| Years Ended March 31, | | |
| 2024 | 2023 | |
| Income tax expense | $219,378 | $149,260 | |
| Effective income tax rate | 22.4% | | 22.4% |
Table 14 after “The following table summarizes our significant contractual obligations as of March 31, 2025, in future periods:”
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| Payments Due by Period | | | | | | | |
| Total | Less than 1 Year | | 1-3 Years | 3-5 Years | More than 5 Years | | |
| Operating lease obligations (1) | $317,823 | | $62,445 | | $123,491 | | $71,557 | $60,330 |
| Purchase obligations for product (2) | 956,911 | | 956,911 | | — | | — | — |
| Purchase obligations for commodities (3) | 231,323 | | 7,412 | | 223,911 | | — | — |
| Other purchase obligations (4) | 200,744 | | 118,336 | | 70,274 | | 12,134 | — |
| Net unrecognized tax benefits (5) | 4,904 | | 1,955 | | 2,949 | | — | — |
| Total | $1,711,705 | | $1,147,059 | | $420,625 | | $83,691 | $60,330 |
Table 15 after “The following table summarizes the major components of our consolidated statements of cash flows for the periods presented:”
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| Years Ended March 31, | | | | | | |
| 2025 | 2024 | | Change | | | |
| Amount | Amount | | Amount | % | | |
| Net cash provided by operating activities | $1,044,523 | | $1,033,184 | | | $11,339 | 1.1% |
| Net cash used in investing activities | (75,003) | | (89,331) | | | 14,328 | 16.0 |
| Net cash used in financing activities | (581,334) | | (417,675) | | | (163,659) | (39.2) |
| Effect of foreign currency exchange rates on cash and cash equivalents | (1,049) | | (5,922) | | | 4,873 | 82.3 |
| Net change in cash and cash equivalents | $387,137 | | $520,256 | | | $(133,119) | (25.6)% |
Table 16 after “activity of our directors and executive officers with respect to Rule 10b5-1 trading plans during the three months ended March 31, 2025:”
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| Name & Title | Adoption Date | Termination Date | Contract End Date | Aggregate Shares Covered(in ones) (1) |
| Angela Ogbechie, Chief Supply Chain Officer | February 27, 2025 | * | December 31, 2025 | 12,570 |
| Bonita Stewart, Director | February 10, 2025 | * | May 27, 2026 | 9,000 |
| Exhibit Number | Description of Exhibit |
| 3.2 | Amended and Restated Bylaws of Deckers Outdoor Corporation, as amended through September 9, 2024 (Exhibit 3.2 to the Registrant’s Form 10-Q filed on October 31, 2024, and incorporated by reference herein) |
| *4.1 | Description of the Capital Stock of Deckers Outdoor Corporation |
| 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) |
First 8 of 21 rows. The CSV has all of them.
| Exhibit Number | Description of Exhibit |
| †#10.19 | 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) |
| #10.20 | Form of Stock Unit Award Agreement (2024 Time-Based RSU) under Deckers Outdoor Corporation 2015 Stock Incentive Plan (Exhibit 10.23 to the Registrant’s Form 10-K filed on May 24, 2024, and incorporated by reference herein) |
| †#10.21 | Form of Restricted Stock Unit Award Agreement under Deckers Outdoor Corporation 2015 Stock Incentive Plan FY 2024 LTIP Financial Performance Award (Exhibit 10.24 to the Registrant’s Form 10-K filed on May 24, 2024, and incorporated by reference herein) |
| *#10.22 | Form of Stock Unit Award Agreement (2025 Time-Based RSU) under Deckers Outdoor Corporation 2015 Stock Incentive Plan |
| †*#10.23 | Form of Restricted Stock Unit Award Agreement under Deckers Outdoor Corporation 2015 Stock Incentive Plan FY 2025 LTIP Financial Performance Award |
| *#10.24 | Form of Stock Unit Award Agreement (Time-Based RSU) under Deckers Outdoor Corporation 2024 Stock Incentive Plan |
| †*#10.25 | Form of Restricted Stock Unit Award Agreement under Deckers Outdoor Corporation 2024 Stock Incentive Plan - LTIP Financial Performance Award |
First 8 of 22 rows. The CSV has all of them.
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”
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| /s/ STEFANO CAROTI | Chief Executive Officer, President, and Director (Principal Executive Officer) | May 23, 2025 |
| Stefano Caroti | | |
| /s/ STEVEN J. FASCHING | Chief Financial Officer (Principal Financial and Accounting Officer) | May 23, 2025 |
| Steven J. Fasching | | |
| /s/ CYNTHIA (CINDY) L. DAVIS | Chair of the Board | May 23, 2025 |
| Cynthia (Cindy) L. Davis | | |
| /s/ DAVID A. BURWICK | Director | May 23, 2025 |
| David A. Burwick | | |
First 8 of 22 rows. The CSV has all of them.
Table 20 after “AND FINANCIAL STATEMENT SCHEDULES”
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| 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 |
First 8 of 11 rows. The CSV has all of them.
Table 21 after “(dollar and share data amounts in thousands, except par value)”
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| As of March 31, | | |
| 2025 | 2024 | |
| ASSETS | | | |
| Cash and cash equivalents | $1,889,188 | | $1,502,051 |
| Trade accounts receivable, net of allowances ($32,883 and $27,331 as of March 31, 2025, and March 31, 2024, respectively) (Note 2 and Schedule II) | 332,872 | | 296,565 |
| Inventories | 495,226 | | 474,311 |
| Prepaid expenses | 39,294 | | 34,284 |
| Other current assets | 67,282 | | 92,713 |
First 8 of 37 rows. The CSV has all of them.
Table 22 after “(dollar and share data amounts in thousands, except per share data)”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Net sales (Note 2, Note 12, and Note 13) | $4,985,612 | | $4,287,763 | | $3,627,286 |
| Cost of sales | 2,099,949 | | 1,902,275 | | 1,801,916 |
| Gross profit | 2,885,663 | | 2,385,488 | | 1,825,370 |
| Selling, general, and administrative expenses (Note 12) | 1,706,571 | | 1,457,974 | | 1,172,619 |
| Income from operations (Note 12) | 1,179,092 | | 927,514 | | 652,751 |
| Interest income | (68,389) | | (52,208) | | (15,563) |
First 8 of 25 rows. The CSV has all of them.
| Common Stock | Additional Paid-in Capital | | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Stockholders’ Equity | | | |
| Shares | Amount | | | | | | | |
| Balance, March 31, 2022 | 161,895 | | $1,619 | | $208,741 | | $1,353,420 | $(24,955) | $1,538,825 |
| Stock-based compensation | 33 | | — | | 26,858 | | — | — | 26,858 |
| Shares issued upon vesting | 312 | | 3 | | 2,167 | | — | — | 2,170 |
| Exercise of stock options | 384 | | 4 | | 4,392 | | — | — | 4,396 |
| Shares withheld for taxes | — | | — | | (11,317) | | — | — | (11,317) |
| Repurchases of common stock (Note 10) | (5,570) | | (55) | | — | | (297,317) | — | (297,372) |
First 8 of 30 rows. The CSV has all of them.
| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| OPERATING ACTIVITIES | | | | | |
| Net income | $966,091 | | $759,563 | | $516,822 |
| Reconciliation of net income to net cash provided by (used in) operating activities: | | | | | |
| Depreciation, amortization, and accretion | 69,353 | | 57,587 | | 47,858 |
| Amortization on cloud computing arrangements | 2,380 | | 2,075 | | 2,149 |
| Loss on extinguishment of debt | — | | — | | 226 |
First 8 of 42 rows. The CSV has all of them.
| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| SUPPLEMENTAL CASH FLOW DISCLOSURE | | | | | |
| Cash paid during the period | | | | | |
| Income taxes | $345,397 | | $234,062 | | $135,986 |
| Interest | 1,789 | | 1,783 | | 1,880 |
| Operating leases | 70,326 | | 65,672 | | 60,353 |
| Non-cash investing activities | | | | | |
First 8 of 14 rows. The CSV has all of them.
Table 26 after “The following is a summary of each ASU adopted by and its impact on the Company upon adoption:”
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| 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 of 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 is effective on a retrospective basis for fiscal years beginning after December 15, 2023. Early adoption is not permitted. | The Company prospectively adopted the annual rollforward requirement of this ASU beginning with this Annual Report and retrospectively adopted the interim requirements of this ASU on April 1, 2023. This ASU did not have a material impact on the recognition, measurement, or presentation of SFPs in the Company’s annual and interim consolidated financial statements. However, it did result in additional disclosures. Refer to Note 14, “Supplier Finance Program,” for further information on the Company’s SFPs, key terms, activity rollforward, and outstanding balances recorded in the consolidated balance sheets. |
| 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 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. | The Company retrospectively adopted this ASU beginning with this Annual Report. This ASU did not have a material impact on the Company’s consolidated financial statements other than additional disclosures under Note 12, “Reportable Operating Segments.” |
Table 27 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”
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| Standard | Description | Planned Period of Adoption | Expected Impact on Adoption |
| 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 disclosures in its annual and interim consolidated financial statements. |
| ASU 2024-03 - Disaggregation of Income Statement Expenses (as amended by ASU 2025-01) | The ASU requires disaggregated disclosure of relevant statement of comprehensive income expense captions including tabular presentation of prescribed expense categories such as purchases of inventory, employee compensation, depreciation, intangible asset amortization, and other specific expense, gains, and losses required by existing US GAAP. The ASU is effective on a prospective basis, with retrospective application permitted, for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. | Q4 FY 2028andQ1 FY 2029 | The Company is currently evaluating the impact of the adoption of this ASU on its disclosures in its annual and interim consolidated financial statements. |
Table 28 after “Property and equipment, net, are summarized as follows:”
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| | As of March 31, | | |
| Useful Life (Years) | 2025 | 2024 | |
| Land | Indefinite | $32,864 | | $32,864 |
| Building | 39.5 | 41,099 | | 40,058 |
| Machinery and equipment | 1-10 | 282,838 | | 263,200 |
| Furniture and fixtures | 3-7 | 47,464 | | 41,336 |
| Computer software | 3-10 | 139,412 | | 130,688 |
| Leasehold improvements | 1-11 | 137,806 | | 128,356 |
First 8 of 12 rows. The CSV has all of them.
Table 29 after “The Company’s AROs are recorded in other long-term liabilities in the consolidated balance sheets and activity was as follows:”
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| Years Ended March 31, | | |
| 2025 | 2024 | |
| Beginning balance | $25,686 | | $24,556 |
| Additions and changes in estimate | 2,192 | | 2,730 |
| Liabilities settled during the period | (732) | | (1,724) |
| Accretion expenses | 927 | | 421 |
| Foreign currency translation gains | 45 | | (297) |
| Ending balance | $28,118 | | $25,686 |
Table 30 after “Net sales by channel was as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Wholesale | $2,855,865 | | $2,432,307 | | $2,160,675 |
| Direct-to-Consumer | 2,129,747 | | 1,855,456 | | 1,466,611 |
| Total | $4,985,612 | | $4,287,763 | | $3,627,286 |
Table 31 after “The following table summarizes changes in the estimated sales returns for the periods presented:”
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| Sales Return Asset | Sales Return Liability | |
| 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 (2) | 13,866 | | (55,327) |
| Net additions to sales return liability (1) | 74,150 | | (306,968) |
| Actual returns | (66,896) | | 298,833 |
| Balance, March 31, 2025 (2) | $21,120 | | $(63,462) |
Table 32 after “Activity related to loyalty programs was as follows:”
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| Years Ended March 31, | | |
| 2025 | 2024 | |
| Beginning balance | $(17,586) | | $(13,144) |
| Redemptions and expirations for loyalty certificates and points recognized in net sales | 68,080 | | 52,884 |
| Deferred revenue for loyalty points and certificates issued | (69,060) | | (57,326) |
| Ending balance | $(18,566) | | $(17,586) |
Table 33 after “Activity related to deferred revenue was as follows:”
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| Years Ended March 31, | | |
| 2025 | 2024 | |
| Beginning balance | $(9,591) | | $(13,448) |
| Additions of customer cash payments | (80,732) | | (61,844) |
| Revenue recognized | 63,018 | | 65,701 |
| Ending balance | $(27,305) | | $(9,591) |
Table 34 after “Goodwill as well as other intangible assets by major intangible class recorded in the consolidated balance sheets are as follows:”
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| As of March 31, | | |
| 2025 | 2024 | |
| Goodwill | | | |
| Gross carrying amount (1) | $29,821 | | $143,765 |
| Accumulated impairment losses (1) | (15,831) | | (129,775) |
| Total goodwill (2) | $13,990 | | $13,990 |
Table 35 after “Goodwill as well as other intangible assets by major intangible class recorded in the consolidated balance sheets are as follows:”
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| As of March 31, | | |
| 2025 | 2024 | |
| Other intangible assets | | | |
| Indefinite-lived intangible assets | | | |
| Teva brand trademark | $15,454 | | $15,454 |
| Definite-lived intangible assets | | | |
| Trademarks (1) | 8,014 | | 51,723 |
| Other (1) | 17,245 | | 51,220 |
First 8 of 14 rows. The CSV has all of them.
Table 36 after “Assets and liabilities that are measured on a recurring basis at fair value in the consolidated balance sheets are as follows:”
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| As of | | Measured Using | | | | |
| March 31, 2025 | Level 1 | | Level 2 | Level 3 | | |
| Assets: | | | | | | | |
| Cash equivalents: | | | | | | | |
| Money-market funds | $1,485,555 | | | $1,485,555 | | $— | $— |
| Other current assets: | | | | | | | |
| Designated Derivative Contracts asset | 2,163 | | | — | | 2,163 | — |
| Non-Designated Derivative Contracts asset | 75 | | | — | | 75 | — |
First 8 of 11 rows. The CSV has all of them.
Table 37 after “(amounts in thousands, except per share and share data)”
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| As of | | Measured Using | | | | |
| March 31, 2025 | Level 1 | | Level 2 | Level 3 | | |
| Liabilities: | | | | | | | |
| Other accrued expenses: | | | | | | | |
| Non-qualified deferred compensation liability | $(2,345) | | | $(2,345) | | $— | $— |
| Designated Derivative Contracts liability | (64) | | | — | | (64) | — |
| Other long-term liabilities: | | | | | | | |
| Non-qualified deferred compensation liability | (22,793) | | | (22,793) | | — | — |
First 8 of 9 rows. The CSV has all of them.
Table 38 after “(amounts in thousands, except per share and share data)”
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| 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 | | $— | $— |
First 8 of 14 rows. The CSV has all of them.
Table 39 after “Components of income before income taxes recorded in the consolidated statements of comprehensive income were as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Domestic (1) | $1,033,428 | | $688,981 | | $467,231 |
| Foreign | 209,871 | | 289,960 | | 198,851 |
| Total | $1,243,299 | | $978,941 | | $666,082 |
Table 40 after “Components of income tax expense (benefit) recorded in the consolidated statements of comprehensive income were as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Current | | | | | |
| Federal | $177,652 | | $146,939 | | $115,708 |
| State | 43,847 | | 32,065 | | 18,418 |
| Foreign | 61,254 | | 41,884 | | 24,853 |
| Total | 282,753 | | 220,888 | | 158,979 |
| Deferred | | | | | |
First 8 of 13 rows. The CSV has all of them.
Table 41 after “Income tax expense (benefit) differed from that obtained by applying the statutory federal income tax rate to income before income taxes as ”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Computed expected income taxes | $261,093 | | $205,578 | | $139,882 |
| State income taxes, net of federal income tax benefit | 45,991 | | 32,023 | | 15,881 |
| Foreign rate differential | (13,078) | | (15,976) | | (21,420) |
| Gross unrecognized tax benefits | (1,594) | | 1,301 | | 20,122 |
| Intercompany transfers of assets | 10,430 | | (1,817) | | (13,072) |
| US tax on foreign earnings | (14,548) | | 4,750 | | 7,672 |
First 8 of 10 rows. The CSV has all of them.
Table 42 after “The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as f”
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| As of March 31, | | |
| 2025 | 2024 | |
| Deferred tax assets | | | |
| Amortization of intangible assets | $12,413 | | $11,416 |
| Operating lease liabilities | 38,051 | | 38,890 |
| Uniform capitalization adjustment to inventory | 10,723 | | 11,822 |
| State related taxes and credit carryforwards | 3,107 | | 1,834 |
| Reserves and accruals | 69,803 | | 65,817 |
First 8 of 20 rows. The CSV has all of them.
Table 43 after “A reconciliation of the beginning and ending amounts of total gross unrecognized tax benefits are as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Beginning balance | $45,620 | | $44,901 | | $24,779 |
| Gross increase related to current year tax positions | 4,499 | | 4,318 | | 6,865 |
| Gross increase related to prior year tax positions | 4,662 | | 4,629 | | 16,243 |
| Gross decrease related to prior year tax positions | (4,309) | | (4,698) | | (456) |
| Settlements with taxing authorities | (22,793) | | (582) | | — |
| Lapse of statute of limitations | (6,446) | | (2,948) | | (2,530) |
First 8 of 9 rows. The CSV has all of them.
Table 44 after “Total gross unrecognized tax benefits recorded in the consolidated balance sheets are as follows:”
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| As of March 31, | | |
| 2025 | 2024 | |
| Current liability | | | |
| Income tax payable | $5,688 | | $3,998 |
| Long-term liability | | | |
| Income tax liability | 15,545 | | 41,622 |
| Total | $21,233 | | $45,620 |
Table 45 after “. The components of rent expense for operating leases recorded in SG&A expenses in the consolidated statements of comprehensive income were ”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Operating | $68,020 | | $64,006 | | $52,961 |
| Variable | 39,284 | | 40,615 | | 30,309 |
| Short-term | 9,912 | | 6,931 | | 5,729 |
| Total | $117,216 | | $111,552 | | $88,999 |
Table 46 after “Maturities of undiscounted operating lease liabilities remaining as of March 31, 2025, with a reconciliation to the present value of operati”
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| Years Ending March 31, | Amount |
| 2026 | $62,445 |
| 2027 | 67,077 |
| 2028 | 56,414 |
| 2029 | 42,019 |
| 2030 | 29,538 |
| Thereafter | 60,330 |
| Total undiscounted future lease payments | 317,823 |
First 8 of 10 rows. The CSV has all of them.
Table 47 after “. Key estimates and judgments related to operating lease assets and lease liabilities that are outstanding and presented in the consolidated”
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| As of March 31, | | |
| 2025 | 2024 | |
| Weighted-average remaining lease term in years | 5.5 | 5.9 | |
| Weighted-average discount rate | 4.5% | | 3.9% |
Table 48 after “Supplemental information for amounts presented in the consolidated statements of cash flows related to operating leases, were as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Non-cash operating activities (1) | | | | | |
| Operating lease assets obtained in exchange for lease liabilities | $70,179 | | $78,255 | | $84,988 |
| Reductions to operating lease assets for reductions to lease liabilities | (2,096) | | (8,418) | | (1,903) |
Table 49 after “A summary of the status and changes of the Company’s nonvested shares is as follows:”
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| RSUs | LTIP PSUs | | | | |
| Number of Shares | Weighted-AverageGrant-DateFair Value (3) | | Number of Shares | Weighted-AverageGrant-DateFair Value (3) | |
| Nonvested, March 31, 2022 | 587,202 | | $47.34 | | 618,192 | $57.37 |
| Granted (1) | 311,730 | | 56.50 | | 392,820 | 55.12 |
| Vested (2) | (270,552) | | (41.61) | | (180,624) | (53.30) |
| Forfeited | (92,634) | | (50.00) | | (163,164) | (53.99) |
| Nonvested, March 31, 2023 | 535,746 | | 55.10 | | 667,224 | 57.98 |
| Granted (1) | 235,788 | | 95.55 | | 277,692 | 95.13 |
First 8 of 15 rows. The CSV has all of them.
Table 50 after “Components of stock-based compensation recorded, net of estimated forfeitures, in SG&A expenses in the consolidated statements of comprehens”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Stock-based compensation | | | | | |
| RSUs | $19,758 | | $15,935 | | $13,249 |
| LTIP PSUs | 15,676 | | 18,941 | | 11,275 |
| Grants to Directors | 1,858 | | 1,907 | | 1,863 |
| Subtotal | 37,292 | | 36,783 | | 26,387 |
| Other stock-based compensation | | | | | |
First 8 of 12 rows. The CSV has all of them.
Table 51 after “Total remaining unrecognized stock-based compensation as of March 31, 2025, related to non-vested awards that the Company considers probable”
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| UnrecognizedStock-Based Compensation | Weighted-Average Remaining Vesting Period (Years) | |
| RSUs | $21,951 | | 1.0 |
| LTIP PSUs | 21,225 | | 1.5 |
| Total | $43,176 | | |
Table 52 after “As of March 31, 2025, the Company has the following derivative contracts recorded at fair value in the consolidated balance sheets:”
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| Designated Derivative Contracts | Non-Designated Derivative Contracts | | Total | |
| Notional value | $367,695 | | $14,018 | | $381,713 |
| Fair value recorded in other current assets | 2,163 | | 75 | | 2,238 |
| Fair value recorded in other accrued expenses | (64) | | — | | (64) |
Table 53 after “The Company settled derivative contracts with notional values as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Designated Derivative Contracts | $258,040 | | $179,528 | | $96,345 |
| Non-Designated Derivative Contracts | 18,565 | | — | | 31,044 |
| Total | $276,605 | | $179,528 | | $127,389 |
Table 54 after “The following table summarizes the effect of Designated Derivative Contracts on unrealized gains or losses recorded in the consolidated stat”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Gain recorded in OCI | $4,387 | | $4,090 | | $1,504 |
| Reclassifications from AOCL into net sales | (2,288) | | (4,090) | | (1,504) |
| Income tax expense in OCI | (515) | | — | | — |
| Total | $1,584 | | $— | | $— |
Table 55 after “Stock repurchase activity under the Company’s stock repurchase program was as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Total number of shares repurchased (1) | 3,800,040 | | 4,289,124 | | 5,569,572 |
| Weighted average price per share | $149.21 | | $96.74 | | $53.39 |
| Dollar value of shares repurchased (2) (3) | $567,002 | | $414,931 | | $297,372 |
Table 56 after “The components within AOCL, net of tax, recorded in the consolidated balance sheets, are as follows:”
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| As of March 31, | | |
| 2025 | 2024 | |
| Unrealized gain on cash flow hedges | $1,584 | | $— |
| Cumulative foreign currency translation loss | (51,238) | | (50,733) |
| Total | $(49,654) | | $(50,733) |
Table 57 after “The reconciliation of basic to diluted weighted-average common shares outstanding was as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Basic | 151,992,000 | | 155,225,000 | | 159,023,000 |
| Dilutive effect of equity awards | 678,000 | | 1,060,000 | | 1,088,000 |
| Diluted | 152,670,000 | | 156,285,000 | | 160,111,000 |
| Excluded | | | | | |
| RSUs | 9,000 | | 16,000 | | 20,000 |
| LTIP PSUs | 155,000 | | 291,000 | | 453,000 |
First 8 of 9 rows. The CSV has all of them.
Table 58 after “Reportable operating segment information, with a reconciliation to the consolidated statements of comprehensive income, was as follows:”
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| Year Ended March 31, 2025 | UGG | HOKA | | Other Brands | Total | |
| Net sales | $2,531,351 | $2,233,090 | | $221,171 | $4,985,612 | |
| Less: Cost of sales (1) | 1,023,495 | 949,824 | | 126,630 | 2,099,949 | |
| Segment gross profit | 1,507,856 | 1,283,266 | | 94,541 | 2,885,663 | |
| Segment gross margin | 59.6% | | 57.5% | | 42.7% | 57.9% |
| Less: (1) | | | | | | |
| Payroll and related costs | 146,093 | | 101,056 | | 18,179 | 265,328 |
| Advertising, marketing, and promotion expenses | 180,889 | | 226,238 | | 25,071 | 432,198 |
First 8 of 14 rows. The CSV has all of them.
Table 59 after “Reportable operating segment information, with a reconciliation to the consolidated statements of comprehensive income, was as follows:”
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| Year Ended March 31, 2024 | UGG | HOKA | | Other Brands | Total | |
| Net sales | $2,239,132 | $1,806,740 | | $241,891 | $4,287,763 | |
| Less: Cost of sales (1) | 983,636 | 763,673 | | 154,966 | 1,902,275 | |
| Segment gross profit | 1,255,496 | 1,043,067 | | 86,925 | 2,385,488 | |
| Segment gross margin | 56.1% | | 57.7% | | 35.9% | 55.6% |
| Less: (1) | | | | | | |
| Payroll and related costs | 134,307 | | 74,991 | | 17,628 | 226,926 |
| Advertising, marketing, and promotion expenses | 148,809 | | 175,756 | | 24,287 | 348,852 |
First 8 of 14 rows. The CSV has all of them.
Table 60 after “(amounts in thousands, except per share and share data)”
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| Year Ended March 31, 2023 | UGG | HOKA | | Other Brands | Total | |
| Net sales | $1,929,211 | $1,412,916 | | $285,159 | $3,627,286 | |
| Less: Cost of sales (1) | 975,585 | 641,240 | | 185,091 | 1,801,916 | |
| Segment gross profit | 953,626 | 771,676 | | 100,068 | 1,825,370 | |
| Segment gross margin | 49.4% | | 54.6% | | 35.1% | 50.3% |
| Less: (1) | | | | | | |
| Payroll and related costs | 109,576 | | 57,446 | | 15,266 | 182,288 |
| Advertising, marketing, and promotion expenses | 114,652 | | 135,590 | | 20,898 | 271,140 |
First 8 of 14 rows. The CSV has all of them.
Table 61 after “A reconciliation of reportable segment income from operations to consolidated statements of comprehensive income was as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Segment income from operations | $1,885,956 | | $1,547,595 | | $1,150,429 |
| Unallocated enterprise and shared brand expenses (1) | (706,864) | | (620,081) | | (497,678) |
| Total other income, net | 64,207 | | 51,427 | | 13,331 |
| Consolidated income before income taxes | $1,243,299 | | $978,941 | | $666,082 |
Table 62 after “The Company sells its products globally to customers and consumers, with net sales concentrations as follows:”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| International net sales | $1,798,903 | | $1,424,089 | | $1,175,789 |
| % of net sales | 36.1% | | 33.2% | | 32.4% |
| Net sales in foreign currencies | $1,376,782 | | $1,105,057 | | $832,632 |
| % of net sales | 27.6% | | 25.8% | | 23.0% |
| Ten largest global customers as % of net sales | 23.7% | | 24.2% | | 25.2% |
Table 63 after “Long-lived assets, which consist of property and equipment, net, recorded in the consolidated balance sheets, are as follows:”
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| As of March 31, | | |
| 2025 | 2024 | |
| United States | $289,672 | | $270,561 |
| Foreign (1) | 35,927 | | 31,561 |
| Total | $325,599 | | $302,122 |
Table 64 after “Activity for the Company’s SFP program is as follows:”
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| Year Ended March 31, 2025 |
| Beginning balance | $3,483 |
| Obligations added | 29,373 |
| Obligations settled | (31,960) |
| Ending balance | $896 |
Table 65 after “Allowances for doubtful accounts, sales discounts, and chargebacks against gross trade accounts receivable related to wholesale channel sale”
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| Years Ended March 31, | | | | |
| 2025 | 2024 | | 2023 | |
| Allowance for doubtful accounts (1) | | | | | |
| Beginning balance | $(9,109) | | $(10,576) | | $(9,044) |
| Additions | (4,869) | | (658) | | (1,983) |
| Deductions | 444 | | 2,125 | | 451 |
| Ending balance | $(13,534) | | $(9,109) | | $(10,576) |
| Allowance for sales discounts (2) | | | | | |
First 8 of 18 rows. The CSV has all of them.