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Three Months Ended | Nine Months Ended | ||||||||||||||
December 26, 2015 | December 27, 2014 | December 26, 2015 | December 27, 2014 | ||||||||||||
Numerator: | |||||||||||||||
Net income attributable to MKHL | $ | 294,586 | $ | 303,675 | $ | 662,077 | $ | 698,381 | |||||||
Denominator: | |||||||||||||||
Basic weighted average shares | 182,176,452 | 202,668,541 | 189,336,957 | 203,627,688 | |||||||||||
Weighted average dilutive share equivalents: | |||||||||||||||
Share options, restricted shares/units, and performance restricted share units | 2,675,164 | 2,979,275 | 2,806,465 | 3,124,415 | |||||||||||
Diluted weighted average shares | 184,851,616 | 205,647,816 | 192,143,422 | 206,752,103 | |||||||||||
Basic net income per share | $ | 1.62 | $ | 1.50 | $ | 3.50 | $ | 3.43 | |||||||
Diluted net income per share | $ | 1.59 | $ | 1.48 | $ | 3.45 | $ | 3.38 |
|
June 28, 2015 | |||
Current assets | $ | 25,922 | |
Fixed assets | 6,374 | ||
Customer relationship intangible assets | 2,000 | ||
Goodwill | 9,210 | ||
Debt obligations | (9,539 | ) | |
Other liabilities | (2,333 | ) | |
Total fair value of net assets of MK Panama | 31,634 | ||
Fair value of preexisting interest in MK Panama | 8,107 | ||
Non-controlling interest | 5,052 | ||
Fair value of consideration provided | $ | 18,475 |
|
December 26, 2015 | March 28, 2015 | ||||||
Trade receivables: | |||||||
Credit risk assumed by factors/insured | $ | 342,155 | $ | 374,150 | |||
Credit risk retained by Company | 65,239 | 67,530 | |||||
Receivables due from licensees | 34,262 | 11,763 | |||||
441,656 | 453,443 | ||||||
Less allowances: | (140,024 | ) | (90,024 | ) | |||
$ | 301,632 | $ | 363,419 |
|
December 26, 2015 | March 28, 2015 | ||||||
Leasehold improvements | $ | 390,043 | $ | 294,225 | |||
In-store shops | 234,895 | 189,308 | |||||
Furniture and fixtures | 201,596 | 160,178 | |||||
Computer equipment and software | 151,418 | 104,372 | |||||
Equipment | 81,113 | 73,609 | |||||
Land | 15,099 | — | |||||
1,074,164 | 821,692 | ||||||
Less: accumulated depreciation and amortization | (438,098 | ) | (337,755 | ) | |||
636,066 | 483,937 | ||||||
Construction-in-progress | 103,797 | 78,997 | |||||
$ | 739,863 | $ | 562,934 |
|
December 26, 2015 | March 28, 2015 | ||||||
Prepaid taxes | $ | 22,774 | $ | 60,637 | |||
Prepaid rent | 13,295 | 11,681 | |||||
Leasehold incentive receivable | 8,169 | 12,289 | |||||
Unrealized gains on forward foreign exchange contracts | 3,408 | 25,004 | |||||
Other | 27,275 | 17,832 | |||||
$ | 74,921 | $ | 127,443 |
December 26, 2015 | March 28, 2015 | ||||||
Other taxes payable | $ | 45,764 | $ | 20,202 | |||
Accrued rent | 26,757 | 27,058 | |||||
Gift cards and retail store credits | 13,193 | 8,170 | |||||
Accrued advertising | 9,039 | 5,653 | |||||
Professional services | 6,430 | 7,347 | |||||
Advance royalties | 3,123 | 5,081 | |||||
Accrued litigation | 1,446 | 5,539 | |||||
Unrealized loss on forward foreign exchange contracts | 1,261 | 600 | |||||
Other | 42,775 | 15,496 | |||||
$ | 149,788 | $ | 95,146 |
|
4.75% loan, due April 6, 2020 from Banco General de Panama | $ | 1,855 | |
5.0% loan (see Note 15) | 2,000 | ||
Other | 122 | ||
Total long-term debt | $ | 3,977 |
|
Remainder of Fiscal 2016 | $ | 53,146 | |
Fiscal 2017 | 213,851 | ||
Fiscal 2018 | 213,309 | ||
Fiscal 2019 | 205,444 | ||
Fiscal 2020 | 201,548 | ||
Thereafter | 846,006 | ||
$ | 1,733,304 |
|
Fair value at December 26, 2015 using: | Fair value at March 28, 2015 using: | ||||||||||||||||||||||
Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | ||||||||||||||||||
Foreign currency forward contracts- Euro | $ | — | $ | 2,148 | $ | — | $ | — | $ | 23,590 | $ | — | |||||||||||
Foreign currency forward contracts- Canadian Dollar | — | — | — | — | 1,404 | — | |||||||||||||||||
Foreign currency forward contracts- U.S. Dollar | — | (1 | ) | — | — | (590 | ) | — | |||||||||||||||
Total | $ | — | $ | 2,147 | $ | — | $ | — | $ | 24,404 | $ | — |
|
Fair Values | |||||||||||||||||||||||
Notional Amounts | Current Assets (1) | Current Liabilities (2) | |||||||||||||||||||||
December 26, 2015 | March 28, 2015 | December 26, 2015 | March 28, 2015 | December 26, 2015 | March 28, 2015 | ||||||||||||||||||
Designated forward currency exchange contracts | $ | 244,895 | $ | 226,090 | $ | 3,408 | $ | 23,590 | $ | 1,261 | $ | 522 | |||||||||||
Undesignated forward currency exchange contracts | — | 25,788 | — | 1,414 | — | 78 | |||||||||||||||||
Total | $ | 244,895 | $ | 251,878 | $ | 3,408 | $ | 25,004 | $ | 1,261 | $ | 600 |
(1) | Recorded within prepaid expenses and other current assets in the Company’s consolidated balance sheets. |
(2) | Recorded within accrued expenses and other current liabilities in the Company’s consolidated balance sheets. |
Three Months Ended | |||||||||||||||
December 26, 2015 | December 27, 2014 | ||||||||||||||
Pre-Tax Gain Recognized in OCI (Effective Portion) | Less: Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | Pre-Tax Gain Recognized in OCI (Effective Portion) | Less: Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | ||||||||||||
Forward currency exchange contracts | $ | 542 | $ | 5,792 | $ | 5,095 | $ | 1,956 |
Nine Months Ended | |||||||||||||||
December 26, 2015 | December 27, 2014 | ||||||||||||||
Pre-Tax Loss Recognized in OCI (Effective Portion) | Less: Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | Pre-Tax Gain Recognized in OCI (Effective Portion) | Less: Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | ||||||||||||
Forward currency exchange contracts | $ | (17,770 | ) | $ | 8,174 | $ | 15,607 | $ | 573 |
|
Foreign Currency Translation (Losses) Gains | Net Gains (Losses) on Derivatives (1) | Total Accumulated Other Comprehensive (Loss) Income | |||||||||
Balance at March 29, 2014 | $ | (4,775 | ) | $ | (1,598 | ) | $ | (6,373 | ) | ||
Other comprehensive (loss) income before reclassifications | (46,824 | ) | 13,891 | (32,933 | ) | ||||||
Less: net gains reclassified from AOCI to earnings (2) | — | 564 | 564 | ||||||||
Other comprehensive (loss) income net of tax | (46,824 | ) | 13,327 | (33,497 | ) | ||||||
Balance at December 27, 2014 | $ | (51,599 | ) | $ | 11,729 | $ | (39,870 | ) | |||
Balance at March 28, 2015 | $ | (96,068 | ) | $ | 29,264 | $ | (66,804 | ) | |||
Other comprehensive loss before reclassifications | (7,771 | ) | (15,933 | ) | (23,704 | ) | |||||
Less: net gains reclassified from AOCI to earnings (2) | — | 7,367 | 7,367 | ||||||||
Other comprehensive loss, net of tax | (7,771 | ) | (23,300 | ) | (31,071 | ) | |||||
Balance at December 26, 2015 | $ | (103,839 | ) | $ | 5,964 | $ | (97,875 | ) | |||
Less: other comprehensive income attributable to noncontrolling interest | 40 | — | 40 | ||||||||
Other comprehensive (loss) income attributable to MKHL | $ | (103,879 | ) | $ | 5,964 | $ | (97,915 | ) |
(1) | Accumulated other comprehensive income balance related to net gains on derivative financial instruments as of December 26, 2015 and March 28, 2015 is net of tax provisions of $0.7 million and $3.3 million, respectively. Other comprehensive income (loss) before reclassifications related to derivative financial instruments for the nine months ended December 26, 2015 and December 27, 2014 is net of tax benefit of $1.8 million and tax provision of $1.7 million, respectively. |
(2) | Reclassified amounts relate to the Company’s forward foreign currency exchange contracts for inventory purchases and are recorded within cost of goods sold in the Company’s consolidated statements of operations. The amounts reclassified from other comprehensive income for the three months and nine months ended December 26, 2015 are net of tax provisions of $0.6 million and $0.8 million, respectively, which are recorded within income tax expense in the Company’s consolidated statements of operations. The related tax effects recorded in the prior year periods were not material. |
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Three Months Ended | Nine Months Ended | ||||||||||||||
December 26, 2015 | December 27, 2014 | December 26, 2015 | December 27, 2014 | ||||||||||||
Revenue: | |||||||||||||||
Net sales: Retail | $ | 766,225 | $ | 689,388 | $ | 1,822,340 | $ | 1,665,209 | |||||||
Wholesale | 575,453 | 573,838 | 1,553,426 | 1,494,723 | |||||||||||
Licensing | 55,801 | 51,500 | 137,669 | 130,553 | |||||||||||
Total revenue | $ | 1,397,479 | $ | 1,314,726 | $ | 3,513,435 | $ | 3,290,485 | |||||||
Income from operations: | |||||||||||||||
Retail | $ | 212,856 | $ | 214,928 | $ | 433,689 | $ | 484,951 | |||||||
Wholesale | 160,269 | 170,487 | 423,459 | 444,811 | |||||||||||
Licensing | 36,183 | 33,062 | 73,869 | 71,044 | |||||||||||
Income from operations | $ | 409,308 | $ | 418,477 | $ | 931,017 | $ | 1,000,806 |
Three Months Ended | Nine Months Ended | ||||||||||||||
December 26, 2015 | December 27, 2014 | December 26, 2015 | December 27, 2014 | ||||||||||||
Depreciation and amortization: | |||||||||||||||
Retail | $ | 27,308 | $ | 22,414 | $ | 80,798 | $ | 62,401 | |||||||
Wholesale | 17,383 | 15,007 | 50,897 | 37,505 | |||||||||||
Licensing | 323 | 71 | 1,036 | 648 | |||||||||||
Total depreciation and amortization | $ | 45,014 | $ | 37,492 | $ | 132,731 | $ | 100,554 |
Three Months Ended | Nine Months Ended | ||||||||||||||
December 26, 2015 | December 27, 2014 | December 26, 2015 | December 27, 2014 | ||||||||||||
Revenue: | |||||||||||||||
The Americas (U.S., Canada and L. America)(1) | $ | 1,062,016 | $ | 1,057,281 | $ | 2,627,526 | $ | 2,578,396 | |||||||
Europe | 275,992 | 241,415 | 736,176 | 664,836 | |||||||||||
Asia | 59,471 | 16,030 | 149,733 | 47,253 | |||||||||||
Total revenue | $ | 1,397,479 | $ | 1,314,726 | $ | 3,513,435 | $ | 3,290,485 |
As of | |||||||
December 26, 2015 | March 28, 2015 | ||||||
Long-lived assets: | |||||||
The Americas (U.S., Canada and Latin America)(1) | $ | 518,488 | $ | 443,816 | |||
Europe | 263,173 | 169,243 | |||||
Asia | 24,565 | 11,416 | |||||
Total Long-lived assets | $ | 806,226 | $ | 624,475 |
(1) | Net revenues earned in the U.S. were $997.7 million and $2.469 billion, respectively, during the three months and nine months ended December 26, 2015 and were $998.5 million and $2.426 billion, respectively, during the three months and nine months ended December 27, 2014. Long-lived assets located in the U.S. as of December 26, 2015 and March 28, 2015 were $483.1 million and $418.8 million, respectively. |
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Three Months Ended | Nine Months Ended | ||||||||||||||
December 26, 2015 | December 27, 2014 | December 26, 2015 | December 27, 2014 | ||||||||||||
Numerator: | |||||||||||||||
Net income attributable to MKHL | $ | 294,586 | $ | 303,675 | $ | 662,077 | $ | 698,381 | |||||||
Denominator: | |||||||||||||||
Basic weighted average shares | 182,176,452 | 202,668,541 | 189,336,957 | 203,627,688 | |||||||||||
Weighted average dilutive share equivalents: | |||||||||||||||
Share options, restricted shares/units, and performance restricted share units | 2,675,164 | 2,979,275 | 2,806,465 | 3,124,415 | |||||||||||
Diluted weighted average shares | 184,851,616 | 205,647,816 | 192,143,422 | 206,752,103 | |||||||||||
Basic net income per share | $ | 1.62 | $ | 1.50 | $ | 3.50 | $ | 3.43 | |||||||
Diluted net income per share | $ | 1.59 | $ | 1.48 | $ | 3.45 | $ | 3.38 |
|
June 28, 2015 | |||
Current assets | $ | 25,922 | |
Fixed assets | 6,374 | ||
Customer relationship intangible assets | 2,000 | ||
Goodwill | 9,210 | ||
Debt obligations | (9,539 | ) | |
Other liabilities | (2,333 | ) | |
Total fair value of net assets of MK Panama | 31,634 | ||
Fair value of preexisting interest in MK Panama | 8,107 | ||
Non-controlling interest | 5,052 | ||
Fair value of consideration provided | $ | 18,475 |
|
December 26, 2015 | March 28, 2015 | ||||||
Trade receivables: | |||||||
Credit risk assumed by factors/insured | $ | 342,155 | $ | 374,150 | |||
Credit risk retained by Company | 65,239 | 67,530 | |||||
Receivables due from licensees | 34,262 | 11,763 | |||||
441,656 | 453,443 | ||||||
Less allowances: | (140,024 | ) | (90,024 | ) | |||
$ | 301,632 | $ | 363,419 |
|
December 26, 2015 | March 28, 2015 | ||||||
Leasehold improvements | $ | 390,043 | $ | 294,225 | |||
In-store shops | 234,895 | 189,308 | |||||
Furniture and fixtures | 201,596 | 160,178 | |||||
Computer equipment and software | 151,418 | 104,372 | |||||
Equipment | 81,113 | 73,609 | |||||
Land | 15,099 | — | |||||
1,074,164 | 821,692 | ||||||
Less: accumulated depreciation and amortization | (438,098 | ) | (337,755 | ) | |||
636,066 | 483,937 | ||||||
Construction-in-progress | 103,797 | 78,997 | |||||
$ | 739,863 | $ | 562,934 |
|
December 26, 2015 | March 28, 2015 | ||||||
Prepaid taxes | $ | 22,774 | $ | 60,637 | |||
Prepaid rent | 13,295 | 11,681 | |||||
Leasehold incentive receivable | 8,169 | 12,289 | |||||
Unrealized gains on forward foreign exchange contracts | 3,408 | 25,004 | |||||
Other | 27,275 | 17,832 | |||||
$ | 74,921 | $ | 127,443 |
December 26, 2015 | March 28, 2015 | ||||||
Other taxes payable | $ | 45,764 | $ | 20,202 | |||
Accrued rent | 26,757 | 27,058 | |||||
Gift cards and retail store credits | 13,193 | 8,170 | |||||
Accrued advertising | 9,039 | 5,653 | |||||
Professional services | 6,430 | 7,347 | |||||
Advance royalties | 3,123 | 5,081 | |||||
Accrued litigation | 1,446 | 5,539 | |||||
Unrealized loss on forward foreign exchange contracts | 1,261 | 600 | |||||
Other | 42,775 | 15,496 | |||||
$ | 149,788 | $ | 95,146 |
|
4.75% loan, due April 6, 2020 from Banco General de Panama | $ | 1,855 | |
5.0% loan (see Note 15) | 2,000 | ||
Other | 122 | ||
Total long-term debt | $ | 3,977 |
|
Remainder of Fiscal 2016 | $ | 53,146 | |
Fiscal 2017 | 213,851 | ||
Fiscal 2018 | 213,309 | ||
Fiscal 2019 | 205,444 | ||
Fiscal 2020 | 201,548 | ||
Thereafter | 846,006 | ||
$ | 1,733,304 |
|
Fair value at December 26, 2015 using: | Fair value at March 28, 2015 using: | ||||||||||||||||||||||
Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | ||||||||||||||||||
Foreign currency forward contracts- Euro | $ | — | $ | 2,148 | $ | — | $ | — | $ | 23,590 | $ | — | |||||||||||
Foreign currency forward contracts- Canadian Dollar | — | — | — | — | 1,404 | — | |||||||||||||||||
Foreign currency forward contracts- U.S. Dollar | — | (1 | ) | — | — | (590 | ) | — | |||||||||||||||
Total | $ | — | $ | 2,147 | $ | — | $ | — | $ | 24,404 | $ | — |
|
Fair Values | |||||||||||||||||||||||
Notional Amounts | Current Assets (1) | Current Liabilities (2) | |||||||||||||||||||||
December 26, 2015 | March 28, 2015 | December 26, 2015 | March 28, 2015 | December 26, 2015 | March 28, 2015 | ||||||||||||||||||
Designated forward currency exchange contracts | $ | 244,895 | $ | 226,090 | $ | 3,408 | $ | 23,590 | $ | 1,261 | $ | 522 | |||||||||||
Undesignated forward currency exchange contracts | — | 25,788 | — | 1,414 | — | 78 | |||||||||||||||||
Total | $ | 244,895 | $ | 251,878 | $ | 3,408 | $ | 25,004 | $ | 1,261 | $ | 600 |
(1) | Recorded within prepaid expenses and other current assets in the Company’s consolidated balance sheets. |
(2) | Recorded within accrued expenses and other current liabilities in the Company’s consolidated balance sheets. |
Three Months Ended | |||||||||||||||
December 26, 2015 | December 27, 2014 | ||||||||||||||
Pre-Tax Gain Recognized in OCI (Effective Portion) | Less: Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | Pre-Tax Gain Recognized in OCI (Effective Portion) | Less: Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | ||||||||||||
Forward currency exchange contracts | $ | 542 | $ | 5,792 | $ | 5,095 | $ | 1,956 |
Nine Months Ended | |||||||||||||||
December 26, 2015 | December 27, 2014 | ||||||||||||||
Pre-Tax Loss Recognized in OCI (Effective Portion) | Less: Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | Pre-Tax Gain Recognized in OCI (Effective Portion) | Less: Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | ||||||||||||
Forward currency exchange contracts | $ | (17,770 | ) | $ | 8,174 | $ | 15,607 | $ | 573 |
|
Foreign Currency Translation (Losses) Gains | Net Gains (Losses) on Derivatives (1) | Total Accumulated Other Comprehensive (Loss) Income | |||||||||
Balance at March 29, 2014 | $ | (4,775 | ) | $ | (1,598 | ) | $ | (6,373 | ) | ||
Other comprehensive (loss) income before reclassifications | (46,824 | ) | 13,891 | (32,933 | ) | ||||||
Less: net gains reclassified from AOCI to earnings (2) | — | 564 | 564 | ||||||||
Other comprehensive (loss) income net of tax | (46,824 | ) | 13,327 | (33,497 | ) | ||||||
Balance at December 27, 2014 | $ | (51,599 | ) | $ | 11,729 | $ | (39,870 | ) | |||
Balance at March 28, 2015 | $ | (96,068 | ) | $ | 29,264 | $ | (66,804 | ) | |||
Other comprehensive loss before reclassifications | (7,771 | ) | (15,933 | ) | (23,704 | ) | |||||
Less: net gains reclassified from AOCI to earnings (2) | — | 7,367 | 7,367 | ||||||||
Other comprehensive loss, net of tax | (7,771 | ) | (23,300 | ) | (31,071 | ) | |||||
Balance at December 26, 2015 | $ | (103,839 | ) | $ | 5,964 | $ | (97,875 | ) | |||
Less: other comprehensive income attributable to noncontrolling interest | 40 | — | 40 | ||||||||
Other comprehensive (loss) income attributable to MKHL | $ | (103,879 | ) | $ | 5,964 | $ | (97,915 | ) |
(1) | Accumulated other comprehensive income balance related to net gains on derivative financial instruments as of December 26, 2015 and March 28, 2015 is net of tax provisions of $0.7 million and $3.3 million, respectively. Other comprehensive income (loss) before reclassifications related to derivative financial instruments for the nine months ended December 26, 2015 and December 27, 2014 is net of tax benefit of $1.8 million and tax provision of $1.7 million, respectively. |
(2) | Reclassified amounts relate to the Company’s forward foreign currency exchange contracts for inventory purchases and are recorded within cost of goods sold in the Company’s consolidated statements of operations. The amounts reclassified from other comprehensive income for the three months and nine months ended December 26, 2015 are net of tax provisions of $0.6 million and $0.8 million, respectively, which are recorded within income tax expense in the Company’s consolidated statements of operations. The related tax effects recorded in the prior year periods were not material. |
|
Three Months Ended | Nine Months Ended | ||||||||||||||
December 26, 2015 | December 27, 2014 | December 26, 2015 | December 27, 2014 | ||||||||||||
Revenue: | |||||||||||||||
Net sales: Retail | $ | 766,225 | $ | 689,388 | $ | 1,822,340 | $ | 1,665,209 | |||||||
Wholesale | 575,453 | 573,838 | 1,553,426 | 1,494,723 | |||||||||||
Licensing | 55,801 | 51,500 | 137,669 | 130,553 | |||||||||||
Total revenue | $ | 1,397,479 | $ | 1,314,726 | $ | 3,513,435 | $ | 3,290,485 | |||||||
Income from operations: | |||||||||||||||
Retail | $ | 212,856 | $ | 214,928 | $ | 433,689 | $ | 484,951 | |||||||
Wholesale | 160,269 | 170,487 | 423,459 | 444,811 | |||||||||||
Licensing | 36,183 | 33,062 | 73,869 | 71,044 | |||||||||||
Income from operations | $ | 409,308 | $ | 418,477 | $ | 931,017 | $ | 1,000,806 |
Three Months Ended | Nine Months Ended | ||||||||||||||
December 26, 2015 | December 27, 2014 | December 26, 2015 | December 27, 2014 | ||||||||||||
Depreciation and amortization: | |||||||||||||||
Retail | $ | 27,308 | $ | 22,414 | $ | 80,798 | $ | 62,401 | |||||||
Wholesale | 17,383 | 15,007 | 50,897 | 37,505 | |||||||||||
Licensing | 323 | 71 | 1,036 | 648 | |||||||||||
Total depreciation and amortization | $ | 45,014 | $ | 37,492 | $ | 132,731 | $ | 100,554 |
Three Months Ended | Nine Months Ended | ||||||||||||||
December 26, 2015 | December 27, 2014 | December 26, 2015 | December 27, 2014 | ||||||||||||
Revenue: | |||||||||||||||
The Americas (U.S., Canada and L. America)(1) | $ | 1,062,016 | $ | 1,057,281 | $ | 2,627,526 | $ | 2,578,396 | |||||||
Europe | 275,992 | 241,415 | 736,176 | 664,836 | |||||||||||
Asia | 59,471 | 16,030 | 149,733 | 47,253 | |||||||||||
Total revenue | $ | 1,397,479 | $ | 1,314,726 | $ | 3,513,435 | $ | 3,290,485 |
(1) | Net revenues earned in the U.S. were $997.7 million and $2.469 billion, respectively, during the three months and nine months ended December 26, 2015 and were $998.5 million and $2.426 billion, respectively, during the three months and nine months ended December 27, 2014. Long-lived assets located in the U.S. as of December 26, 2015 and March 28, 2015 were $483.1 million and $418.8 million, respectively. |
As of | |||||||
December 26, 2015 | March 28, 2015 | ||||||
Long-lived assets: | |||||||
The Americas (U.S., Canada and Latin America)(1) | $ | 518,488 | $ | 443,816 | |||
Europe | 263,173 | 169,243 | |||||
Asia | 24,565 | 11,416 | |||||
Total Long-lived assets | $ | 806,226 | $ | 624,475 |
(1) | Net revenues earned in the U.S. were $997.7 million and $2.469 billion, respectively, during the three months and nine months ended December 26, 2015 and were $998.5 million and $2.426 billion, respectively, during the three months and nine months ended December 27, 2014. Long-lived assets located in the U.S. as of December 26, 2015 and March 28, 2015 were $483.1 million and $418.8 million, respectively. |
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