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Three Months Ended | Six Months Ended | ||||||||||||||
September 26, 2015 | September 27, 2014 | September 26, 2015 | September 27, 2014 | ||||||||||||
Numerator: | |||||||||||||||
Net income attributable to MKHL | $ | 193,136 | $ | 206,990 | $ | 367,491 | $ | 394,706 | |||||||
Denominator: | |||||||||||||||
Basic weighted average shares | 188,857,398 | 204,464,952 | 192,917,209 | 204,107,262 | |||||||||||
Weighted average dilutive share equivalents: | |||||||||||||||
Share options, restricted shares/units, and performance restricted share units | 2,666,758 | 2,967,298 | 2,872,116 | 3,196,985 | |||||||||||
Diluted weighted average shares | 191,524,156 | 207,432,250 | 195,789,325 | 207,304,247 | |||||||||||
Basic net income per share | $ | 1.02 | $ | 1.01 | $ | 1.90 | $ | 1.93 | |||||||
Diluted net income per share | $ | 1.01 | $ | 1.00 | $ | 1.88 | $ | 1.90 |
|
June 28, 2015 | |||
Current assets | $ | 22,922 | |
Fixed assets | 6,374 | ||
Customer relationship intangible assets | 2,000 | ||
Goodwill | 12,210 | ||
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 |
|
September 26, 2015 | March 28, 2015 | ||||||
Trade receivables: | |||||||
Credit risk assumed by factors/insured | $ | 348,053 | $ | 374,150 | |||
Credit risk retained by Company | 73,286 | 67,530 | |||||
Receivables due from licensees | 29,584 | 11,763 | |||||
450,923 | 453,443 | ||||||
Less allowances: | (106,788 | ) | (90,024 | ) | |||
$ | 344,135 | $ | 363,419 |
|
September 26, 2015 | March 28, 2015 | ||||||
Leasehold improvements | $ | 355,199 | $ | 294,225 | |||
In-store shops | 219,704 | 189,308 | |||||
Furniture and fixtures | 185,332 | 160,178 | |||||
Computer equipment and software | 130,951 | 104,372 | |||||
Equipment | 78,090 | 73,609 | |||||
Land | 15,099 | — | |||||
984,375 | 821,692 | ||||||
Less: accumulated depreciation and amortization | (406,035 | ) | (337,755 | ) | |||
578,340 | 483,937 | ||||||
Construction-in-progress | 94,069 | 78,997 | |||||
$ | 672,409 | $ | 562,934 |
|
September 26, 2015 | March 28, 2015 | ||||||
Prepaid taxes | $ | 53,251 | $ | 60,637 | |||
Unrealized gains on forward foreign exchange contracts | 2,284 | 25,004 | |||||
Leasehold incentive receivable | 9,501 | 12,289 | |||||
Prepaid rent | 13,763 | 11,681 | |||||
Other | 27,817 | 17,832 | |||||
$ | 106,616 | $ | 127,443 |
September 26, 2015 | March 28, 2015 | ||||||
Other taxes payable | $ | 20,326 | $ | 20,202 | |||
Accrued rent | 22,590 | 27,058 | |||||
Advance royalties | 7,902 | 5,081 | |||||
Accrued litigation | 767 | 5,539 | |||||
Accrued advertising | 15,891 | 5,653 | |||||
Professional services | 6,024 | 7,347 | |||||
Accrued samples | 34 | 816 | |||||
Unrealized loss on forward foreign exchange contracts | 1,529 | 600 | |||||
Other | 32,719 | 22,850 | |||||
$ | 107,782 | $ | 95,146 |
|
4.75% loan, due April 6, 2020 from Banco General de Panama | $ | 1,943 | |
5.0% loan (see Note 15) | 2,000 | ||
Other | 180 | ||
Total long-term debt | $ | 4,123 | |
Borrowings outstanding under revolving line of credit with Banco General de Panama, 4.0% interest rate | 5,416 | ||
Total debt obligations | $ | 9,539 |
|
Fiscal years ending: | |||
2016 | $ | 101,953 | |
2017 | 209,354 | ||
2018 | 209,712 | ||
2019 | 203,043 | ||
2020 | 199,937 | ||
Thereafter | 833,905 | ||
$ | 1,757,904 |
|
Fair value at September 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 | $ | — | $ | 683 | $ | — | $ | — | $ | 23,590 | $ | — | |||||||||||
Foreign currency forward contracts- Canadian Dollar | — | — | — | — | 1,404 | — | |||||||||||||||||
Foreign currency forward contracts- U.S. Dollar | — | 72 | — | — | (590 | ) | — | ||||||||||||||||
Total | $ | — | $ | 755 | $ | — | $ | — | $ | 24,404 | $ | — |
|
Fair Values | |||||||||||||||||||||||
Notional Amounts | Current Assets (1) | Current Liabilities (2) | |||||||||||||||||||||
September 26, 2015 | March 28, 2015 | September 26, 2015 | March 28, 2015 | September 26, 2015 | March 28, 2015 | ||||||||||||||||||
Designated forward currency exchange contracts | $ | 221,061 | $ | 226,090 | $ | 2,279 | $ | 23,590 | $ | 1,529 | $ | 522 | |||||||||||
Undesignated forward currency exchange contracts | 420 | 25,788 | 5 | 1,414 | — | 78 | |||||||||||||||||
Total | $ | 221,481 | $ | 251,878 | $ | 2,284 | $ | 25,004 | $ | 1,529 | $ | 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 | |||||||||||||||
September 26, 2015 | September 27, 2014 | ||||||||||||||
Pre-Tax Loss Recognized in OCI (Effective Portion) | Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | Pre-Tax Gain Recognized in OCI (Effective Portion) | Pre-Tax Loss Reclassified from Accumulated OCI into Earnings (Effective Portion) | ||||||||||||
Forward currency exchange contracts | $ | (6,606 | ) | $ | 2,430 | $ | 9,973 | $ | (249 | ) |
Six Months Ended | |||||||||||||||
September 26, 2015 | September 27, 2014 | ||||||||||||||
Pre-Tax Loss Recognized in OCI (Effective Portion) | Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | Pre-Tax Gain Recognized in OCI (Effective Portion) | Pre-Tax Loss Reclassified from Accumulated OCI into Earnings (Effective Portion) | ||||||||||||
Forward currency exchange contracts | $ | (18,312 | ) | $ | 2,382 | $ | 10,512 | $ | (1,383 | ) |
|
Foreign Currency Translation Income (Loss) | Net Gains (Losses) on Derivatives (1) | Total Accumulated Other Comprehensive Income (Loss) | |||||||||
Balance at March 29, 2014 | $ | (4,775 | ) | $ | (1,598 | ) | $ | (6,373 | ) | ||
Other comprehensive income (loss) before reclassifications | (24,604 | ) | 9,347 | (15,257 | ) | ||||||
Less: amounts reclassified from AOCI to earnings (2) | — | (1,211 | ) | (1,211 | ) | ||||||
Other comprehensive income net of tax | (24,604 | ) | 10,558 | (14,046 | ) | ||||||
Balance at September 27, 2014 | $ | (29,379 | ) | $ | 8,960 | $ | (20,419 | ) | |||
Balance at March 28, 2015 | $ | (96,068 | ) | $ | 29,264 | (66,804 | ) | ||||
Other comprehensive income (loss) before reclassifications | 4,228 | (16,337 | ) | (12,109 | ) | ||||||
Less: amounts reclassified from AOCI to earnings (2) | — | 2,224 | 2,224 | ||||||||
Other comprehensive income (loss) net of tax | 4,228 | (18,561 | ) | (14,333 | ) | ||||||
Balance at September 26, 2015 | $ | (91,840 | ) | $ | 10,703 | $ | (81,137 | ) | |||
Less: other comprehensive income attributable to noncontrolling interest | 11 | — | 11 | ||||||||
Other comprehensive income attributable to MKHL | $ | (91,851 | ) | $ | 10,703 | $ | (81,148 | ) |
(1) | Accumulated other comprehensive income balance related to net gains on derivative financial instruments as of September 26, 2015 and March 28, 2015 is net of tax provisions of $1.2 million and $3.3 million, respectively. Other comprehensive loss before reclassifications related to derivative financial instruments for the six months ended September 26, 2015 and September 27, 2014 is net of tax benefits of $2.0 million and $1.1 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 related tax effects recorded within income tax expense in the Company’s consolidated statements of operations were not material. |
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Three Months Ended | Six Months Ended | ||||||||||||||
September 26, 2015 | September 27, 2014 | September 26, 2015 | September 27, 2014 | ||||||||||||
Revenue: | |||||||||||||||
Net sales: Retail | $ | 532,815 | $ | 495,579 | $ | 1,056,115 | $ | 975,821 | |||||||
Wholesale | 554,014 | 514,090 | 977,973 | 920,885 | |||||||||||
Licensing | 43,152 | 46,936 | 81,868 | 79,053 | |||||||||||
Total revenue | $ | 1,129,981 | $ | 1,056,605 | $ | 2,115,956 | $ | 1,975,759 | |||||||
Income from operations: | |||||||||||||||
Retail | $ | 99,959 | $ | 127,334 | $ | 220,833 | $ | 270,023 | |||||||
Wholesale | 156,880 | 156,672 | 263,190 | 274,324 | |||||||||||
Licensing | 16,247 | 21,552 | 37,686 | 37,982 | |||||||||||
Income from operations | $ | 273,086 | $ | 305,558 | $ | 521,709 | $ | 582,329 |
Three Months Ended | Six Months Ended | ||||||||||||||
September 26, 2015 | September 27, 2014 | September 26, 2015 | September 27, 2014 | ||||||||||||
Depreciation and amortization: | |||||||||||||||
Retail | $ | 28,399 | $ | 22,022 | $ | 53,490 | $ | 39,987 | |||||||
Wholesale | 17,412 | 11,723 | 33,514 | 22,498 | |||||||||||
Licensing | 353 | 319 | 713 | 577 | |||||||||||
Total depreciation and amortization | $ | 46,164 | $ | 34,064 | $ | 87,717 | $ | 63,062 |
Three Months Ended | Six Months Ended | ||||||||||||||
September 26, 2015 | September 27, 2014 | September 26, 2015 | September 27, 2014 | ||||||||||||
Revenues: | |||||||||||||||
The Americas (U.S., Canada and L. America)(1) | $ | 838,215 | $ | 802,226 | $ | 1,565,510 | $ | 1,521,115 | |||||||
Europe | 243,371 | 237,924 | 460,184 | 423,421 | |||||||||||
Other regions | 48,395 | 16,455 | 90,262 | 31,223 | |||||||||||
Total revenues | $ | 1,129,981 | $ | 1,056,605 | $ | 2,115,956 | $ | 1,975,759 |
As of | |||||||
September 26, 2015 | March 28, 2015 | ||||||
Long-lived assets: | |||||||
The Americas (U.S., Canada and Latin America)(1) | $ | 495,411 | $ | 443,816 | |||
Europe | 228,076 | 169,243 | |||||
Other regions | 18,167 | 11,416 | |||||
Total Long-lived assets | $ | 741,654 | $ | 624,475 |
(1) | Net revenues earned in the U.S. were $786.5 million and $1,471.3 million, respectively, during the three months and six months ended September 26, 2015 and were $752.8 million and $1,427.1 million, respectively, during the three months and six months ended September 27, 2014. Long-lived assets located in the U.S. as of September 26, 2015 and March 28, 2015 were $462.1 million and $418.8 million, respectively. |
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Three Months Ended | Six Months Ended | ||||||||||||||
September 26, 2015 | September 27, 2014 | September 26, 2015 | September 27, 2014 | ||||||||||||
Numerator: | |||||||||||||||
Net income attributable to MKHL | $ | 193,136 | $ | 206,990 | $ | 367,491 | $ | 394,706 | |||||||
Denominator: | |||||||||||||||
Basic weighted average shares | 188,857,398 | 204,464,952 | 192,917,209 | 204,107,262 | |||||||||||
Weighted average dilutive share equivalents: | |||||||||||||||
Share options, restricted shares/units, and performance restricted share units | 2,666,758 | 2,967,298 | 2,872,116 | 3,196,985 | |||||||||||
Diluted weighted average shares | 191,524,156 | 207,432,250 | 195,789,325 | 207,304,247 | |||||||||||
Basic net income per share | $ | 1.02 | $ | 1.01 | $ | 1.90 | $ | 1.93 | |||||||
Diluted net income per share | $ | 1.01 | $ | 1.00 | $ | 1.88 | $ | 1.90 |
|
June 28, 2015 | |||
Current assets | $ | 22,922 | |
Fixed assets | 6,374 | ||
Customer relationship intangible assets | 2,000 | ||
Goodwill | 12,210 | ||
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 |
|
September 26, 2015 | March 28, 2015 | ||||||
Trade receivables: | |||||||
Credit risk assumed by factors/insured | $ | 348,053 | $ | 374,150 | |||
Credit risk retained by Company | 73,286 | 67,530 | |||||
Receivables due from licensees | 29,584 | 11,763 | |||||
450,923 | 453,443 | ||||||
Less allowances: | (106,788 | ) | (90,024 | ) | |||
$ | 344,135 | $ | 363,419 |
|
September 26, 2015 | March 28, 2015 | ||||||
Leasehold improvements | $ | 355,199 | $ | 294,225 | |||
In-store shops | 219,704 | 189,308 | |||||
Furniture and fixtures | 185,332 | 160,178 | |||||
Computer equipment and software | 130,951 | 104,372 | |||||
Equipment | 78,090 | 73,609 | |||||
Land | 15,099 | — | |||||
984,375 | 821,692 | ||||||
Less: accumulated depreciation and amortization | (406,035 | ) | (337,755 | ) | |||
578,340 | 483,937 | ||||||
Construction-in-progress | 94,069 | 78,997 | |||||
$ | 672,409 | $ | 562,934 |
|
September 26, 2015 | March 28, 2015 | ||||||
Prepaid taxes | $ | 53,251 | $ | 60,637 | |||
Unrealized gains on forward foreign exchange contracts | 2,284 | 25,004 | |||||
Leasehold incentive receivable | 9,501 | 12,289 | |||||
Prepaid rent | 13,763 | 11,681 | |||||
Other | 27,817 | 17,832 | |||||
$ | 106,616 | $ | 127,443 |
September 26, 2015 | March 28, 2015 | ||||||
Other taxes payable | $ | 20,326 | $ | 20,202 | |||
Accrued rent | 22,590 | 27,058 | |||||
Advance royalties | 7,902 | 5,081 | |||||
Accrued litigation | 767 | 5,539 | |||||
Accrued advertising | 15,891 | 5,653 | |||||
Professional services | 6,024 | 7,347 | |||||
Accrued samples | 34 | 816 | |||||
Unrealized loss on forward foreign exchange contracts | 1,529 | 600 | |||||
Other | 32,719 | 22,850 | |||||
$ | 107,782 | $ | 95,146 |
|
4.75% loan, due April 6, 2020 from Banco General de Panama | $ | 1,943 | |
5.0% loan (see Note 15) | 2,000 | ||
Other | 180 | ||
Total long-term debt | $ | 4,123 | |
Borrowings outstanding under revolving line of credit with Banco General de Panama, 4.0% interest rate | 5,416 | ||
Total debt obligations | $ | 9,539 |
|
Fiscal years ending: | |||
2016 | $ | 101,953 | |
2017 | 209,354 | ||
2018 | 209,712 | ||
2019 | 203,043 | ||
2020 | 199,937 | ||
Thereafter | 833,905 | ||
$ | 1,757,904 |
|
Fair value at September 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 | $ | — | $ | 683 | $ | — | $ | — | $ | 23,590 | $ | — | |||||||||||
Foreign currency forward contracts- Canadian Dollar | — | — | — | — | 1,404 | — | |||||||||||||||||
Foreign currency forward contracts- U.S. Dollar | — | 72 | — | — | (590 | ) | — | ||||||||||||||||
Total | $ | — | $ | 755 | $ | — | $ | — | $ | 24,404 | $ | — |
|
Fair Values | |||||||||||||||||||||||
Notional Amounts | Current Assets (1) | Current Liabilities (2) | |||||||||||||||||||||
September 26, 2015 | March 28, 2015 | September 26, 2015 | March 28, 2015 | September 26, 2015 | March 28, 2015 | ||||||||||||||||||
Designated forward currency exchange contracts | $ | 221,061 | $ | 226,090 | $ | 2,279 | $ | 23,590 | $ | 1,529 | $ | 522 | |||||||||||
Undesignated forward currency exchange contracts | 420 | 25,788 | 5 | 1,414 | — | 78 | |||||||||||||||||
Total | $ | 221,481 | $ | 251,878 | $ | 2,284 | $ | 25,004 | $ | 1,529 | $ | 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 | |||||||||||||||
September 26, 2015 | September 27, 2014 | ||||||||||||||
Pre-Tax Loss Recognized in OCI (Effective Portion) | Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | Pre-Tax Gain Recognized in OCI (Effective Portion) | Pre-Tax Loss Reclassified from Accumulated OCI into Earnings (Effective Portion) | ||||||||||||
Forward currency exchange contracts | $ | (6,606 | ) | $ | 2,430 | $ | 9,973 | $ | (249 | ) |
Six Months Ended | |||||||||||||||
September 26, 2015 | September 27, 2014 | ||||||||||||||
Pre-Tax Loss Recognized in OCI (Effective Portion) | Pre-Tax Gain Reclassified from Accumulated OCI into Earnings (Effective Portion) | Pre-Tax Gain Recognized in OCI (Effective Portion) | Pre-Tax Loss Reclassified from Accumulated OCI into Earnings (Effective Portion) | ||||||||||||
Forward currency exchange contracts | $ | (18,312 | ) | $ | 2,382 | $ | 10,512 | $ | (1,383 | ) |
|
Foreign Currency Translation Income (Loss) | Net Gains (Losses) on Derivatives (1) | Total Accumulated Other Comprehensive Income (Loss) | |||||||||
Balance at March 29, 2014 | $ | (4,775 | ) | $ | (1,598 | ) | $ | (6,373 | ) | ||
Other comprehensive income (loss) before reclassifications | (24,604 | ) | 9,347 | (15,257 | ) | ||||||
Less: amounts reclassified from AOCI to earnings (2) | — | (1,211 | ) | (1,211 | ) | ||||||
Other comprehensive income net of tax | (24,604 | ) | 10,558 | (14,046 | ) | ||||||
Balance at September 27, 2014 | $ | (29,379 | ) | $ | 8,960 | $ | (20,419 | ) | |||
Balance at March 28, 2015 | $ | (96,068 | ) | $ | 29,264 | (66,804 | ) | ||||
Other comprehensive income (loss) before reclassifications | 4,228 | (16,337 | ) | (12,109 | ) | ||||||
Less: amounts reclassified from AOCI to earnings (2) | — | 2,224 | 2,224 | ||||||||
Other comprehensive income (loss) net of tax | 4,228 | (18,561 | ) | (14,333 | ) | ||||||
Balance at September 26, 2015 | $ | (91,840 | ) | $ | 10,703 | $ | (81,137 | ) | |||
Less: other comprehensive income attributable to noncontrolling interest | 11 | — | 11 | ||||||||
Other comprehensive income attributable to MKHL | $ | (91,851 | ) | $ | 10,703 | $ | (81,148 | ) |
(1) | Accumulated other comprehensive income balance related to net gains on derivative financial instruments as of September 26, 2015 and March 28, 2015 is net of tax provisions of $1.2 million and $3.3 million, respectively. Other comprehensive loss before reclassifications related to derivative financial instruments for the six months ended September 26, 2015 and September 27, 2014 is net of tax benefits of $2.0 million and $1.1 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 related tax effects recorded within income tax expense in the Company’s consolidated statements of operations were not material. |
|
Three Months Ended | Six Months Ended | ||||||||||||||
September 26, 2015 | September 27, 2014 | September 26, 2015 | September 27, 2014 | ||||||||||||
Revenue: | |||||||||||||||
Net sales: Retail | $ | 532,815 | $ | 495,579 | $ | 1,056,115 | $ | 975,821 | |||||||
Wholesale | 554,014 | 514,090 | 977,973 | 920,885 | |||||||||||
Licensing | 43,152 | 46,936 | 81,868 | 79,053 | |||||||||||
Total revenue | $ | 1,129,981 | $ | 1,056,605 | $ | 2,115,956 | $ | 1,975,759 | |||||||
Income from operations: | |||||||||||||||
Retail | $ | 99,959 | $ | 127,334 | $ | 220,833 | $ | 270,023 | |||||||
Wholesale | 156,880 | 156,672 | 263,190 | 274,324 | |||||||||||
Licensing | 16,247 | 21,552 | 37,686 | 37,982 | |||||||||||
Income from operations | $ | 273,086 | $ | 305,558 | $ | 521,709 | $ | 582,329 |
Three Months Ended | Six Months Ended | ||||||||||||||
September 26, 2015 | September 27, 2014 | September 26, 2015 | September 27, 2014 | ||||||||||||
Depreciation and amortization: | |||||||||||||||
Retail | $ | 28,399 | $ | 22,022 | $ | 53,490 | $ | 39,987 | |||||||
Wholesale | 17,412 | 11,723 | 33,514 | 22,498 | |||||||||||
Licensing | 353 | 319 | 713 | 577 | |||||||||||
Total depreciation and amortization | $ | 46,164 | $ | 34,064 | $ | 87,717 | $ | 63,062 |
Three Months Ended | Six Months Ended | ||||||||||||||
September 26, 2015 | September 27, 2014 | September 26, 2015 | September 27, 2014 | ||||||||||||
Revenues: | |||||||||||||||
The Americas (U.S., Canada and L. America)(1) | $ | 838,215 | $ | 802,226 | $ | 1,565,510 | $ | 1,521,115 | |||||||
Europe | 243,371 | 237,924 | 460,184 | 423,421 | |||||||||||
Other regions | 48,395 | 16,455 | 90,262 | 31,223 | |||||||||||
Total revenues | $ | 1,129,981 | $ | 1,056,605 | $ | 2,115,956 | $ | 1,975,759 |
As of | |||||||
September 26, 2015 | March 28, 2015 | ||||||
Long-lived assets: | |||||||
The Americas (U.S., Canada and Latin America)(1) | $ | 495,411 | $ | 443,816 | |||
Europe | 228,076 | 169,243 | |||||
Other regions | 18,167 | 11,416 | |||||
Total Long-lived assets | $ | 741,654 | $ | 624,475 |
(1) | Net revenues earned in the U.S. were $786.5 million and $1,471.3 million, respectively, during the three months and six months ended September 26, 2015 and were $752.8 million and $1,427.1 million, respectively, during the three months and six months ended September 27, 2014. Long-lived assets located in the U.S. as of September 26, 2015 and March 28, 2015 were $462.1 million and $418.8 million, respectively. |
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