0000110471-22-000080 | 10-Q | XBRL Viewer | Wolverine World Wide INC DE

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Oct. 01, 2022	Oct. 24, 2022
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 01, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	WOLVERINE WORLD WIDE INC /DE/
Entity Central Index Key	0000110471
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		78,755,075
Entity Emerging Growth Company	false
Entity Small Business	false
Document Transition Report	false
Document Quarterly Report	true
Entity File Number	001-06024
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-1185150
Entity Address, Address Line One	9341 Courtland Drive N.E.
Entity Address, City or Town	Rockford
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	49351
City Area Code	(616)
Local Phone Number	866-5500
Title of 12(b) Security	Common Stock, $1 Par Value
Trading Symbol	WWW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false

Consolidated Condensed Statements of Operations and Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Income Statement [Abstract]
Revenue	$ 691.4	$ 636.7	$ 2,019.8	$ 1,779.3
Cost of goods sold	413.6	361.9	1,173.6	1,011.8
Gross profit	277.8	274.8	846.2	767.5
Selling, general and administrative expenses	216.8	215.0	657.3	591.2
Gain on sale of trademarks	0.0	0.0	(90.0)	0.0
Environmental and other related costs, net of recoveries	2.2	17.3	32.6	11.9
Operating profit	58.8	42.5	246.3	164.4
Other expenses:
Interest expense, net	12.5	9.6	31.3	28.9
Debt extinguishment and other costs	0.0	34.0	0.0	34.0
Other expense (income), net	2.7	(0.4)	2.2	2.5
Total other expenses	15.2	43.2	33.5	65.4
Earnings (loss) before income taxes	43.6	(0.7)	212.8	99.0
Income tax expense	4.8	0.1	41.1	17.0
Net earnings (loss)	38.8	(0.8)	171.7	82.0
Less: net loss attributable to noncontrolling interests	(0.2)	(0.8)	(1.6)	(1.2)
Net earnings attributable to Wolverine World Wide, Inc.	$ 39.0	$ 0.0	$ 173.3	$ 83.2
Net Earnings Per Share:
Basic	$ 0.49	$ 0.00	$ 2.12	$ 0.99
Diluted	$ 0.48	$ 0.00	$ 2.12	$ 0.98
Comprehensive income (loss)	$ 13.5	$ (10.2)	$ 110.1	$ 84.2
Less: comprehensive loss attributable to noncontrolling interests	(0.6)	(0.7)	(2.4)	(1.2)
Comprehensive income (loss) attributable to Wolverine World Wide, Inc.	$ 14.1	$ (9.5)	$ 112.5	$ 85.4
Cash dividends declared per share	$ 0.10	$ 0.10	$ 0.30	$ 0.30

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Current assets:
Cash and cash equivalents	$ 136.4	$ 161.7	$ 183.6
Accounts receivable, less allowances: October 1, 2022: $23.0; January 1, 2022 $28.3; October 2, 2021: $27.4	440.0	319.6	362.6
Inventories:
Finished products, net	871.1	354.1	400.2
Raw materials and work-in-process, net	9.8	11.4	11.8
Total inventories	880.9	365.5	412.0
Prepaid expenses and other current assets	94.5	56.9	44.4
Total current assets	1,551.8	903.7	1,002.6
Noncurrent assets:
Property plant and equipment net of accumulated depreciation: October 1, 2022: $228.4; January 1, 2022: $219.1; October 2, 2021: $212.2	126.0	129.0	127.3
Lease right-of-use assets, net	165.0	138.2	134.7
Goodwill	526.5	556.6	555.5
Indefinite-lived intangibles	658.6	718.1	718.3
Amortizable intangibles, net	67.7	74.6	76.8
Deferred Income Tax Assets, Net	0.8	1.8	1.9
Other assets	74.2	64.4	64.3
Total assets	3,170.6	2,586.4	2,681.4
Current liabilities:
Accounts payable	317.9	222.1	265.1
Accrued salaries and wages	26.5	41.7	39.1
Other accrued liabilities	203.4	222.5	193.5
Lease liabilities	33.5	38.3	34.4
Current maturities of long-term debt	10.0	10.0	10.0
Borrowings under revolving credit agreements	740.0	225.0	310.0
Total current liabilities	1,331.3	759.6	852.1
Noncurrent liabilities:
Long-term debt, less current maturities	725.2	731.8	704.4
Accrued pension liabilities	103.0	107.4	145.3
Deferred Income Tax Liabilities, Net	116.4	118.9	121.2
Operating Lease, Liability, Noncurrent	147.5	118.2	117.9
Other liabilities	73.0	106.1	98.6
Stockholders’ equity:
Common Stock - par value $1, authorized 320,000,000 shares; shares issued (including shares in treasury): October 1, 2022: 112,170,049 shares; January 1, 2022: 111,632,094 shares; October 2, 2021: 111,538,349 shares	112.2	111.6	111.5
Additional paid-in capital	318.7	298.9	289.8
Retained earnings	1,277.1	1,128.2	1,151.2
Accumulated other comprehensive loss	(159.7)	(98.9)	(128.4)
Cost of shares in treasury: October 1, 2022: 33,414,974 shares; January 1, 2022: 29,604,013 shares; October 2, 2021: 29,170,142 shares	(891.4)	(810.2)	(797.4)
Total Wolverine World Wide, Inc. stockholders’ equity	656.9	629.6	626.7
Noncontrolling interest	17.3	14.8	15.2
Total stockholders’ equity	674.2	644.4	641.9
Total liabilities and stockholders’ equity	$ 3,170.6	$ 2,586.4	$ 2,681.4

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Statement of Financial Position [Abstract]
Accounts receivable allowance	$ 23.0	$ 28.3	$ 27.4
Accumulated depreciation	$ (228.4)	$ (219.1)	$ (212.2)
Common stock, par value	$ 1	$ 1	$ 1
Common stock, shares authorized	320,000,000	320,000,000	320,000,000
Common stock, shares issued (including shares in treasury)	112,170,049	111,632,094	111,538,349
Treasury shares	33,414,974	29,604,013	29,170,142

Consolidated Condensed Statements of Cash Flow - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
OPERATING ACTIVITIES
Net earnings	$ 171.7	$ 82.0
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	25.2	23.1
Deferred income taxes	2.5	(3.9)
Stock-based compensation expense	26.4	30.0
Pension and SERP expense	7.0	10.5
Debt Related Commitment Fees and Debt Issuance Costs	0.0	5.6
Environmental and other related costs, net of cash payments	(35.8)	(8.5)
Gain (Loss) on Disposition of Intangible Assets	(90.0)	0.0
Other	(4.9)	(3.5)
Changes in operating assets and liabilities:
Accounts receivable	(133.5)	(90.3)
Inventories	(533.5)	(124.6)
Other operating assets	(15.1)	7.7
Accounts payable	109.2	68.4
Income taxes payable	5.7	5.7
Other operating liabilities	(25.1)	14.8
Net cash provided by (used in) operating activities	(490.2)	17.0
INVESTING ACTIVITIES
Payments to Acquire Businesses, Net of Cash Acquired	0.0	(417.8)
Additions to property, plant and equipment	(23.5)	(10.0)
Payments to Acquire Equity Method Investments	(2.8)	0.0
Proceeds from sale of trademarks	90.0	0.0
Other	4.5	(1.9)
Net cash provided by (used in) investing activities	68.2	(429.7)
FINANCING ACTIVITIES
Repayments of Lines of Credit	(153.0)	(40.0)
Proceeds from Lines of Credit	668.0	350.0
Proceeds from Issuance of Debt	0.0	550.0
Payments on long-term debt	(7.5)	(557.5)
Payments of Debt Issuance Costs	0.0	(7.4)
Cash dividends paid	(24.7)	(25.2)
Purchases of common stock for treasury	(81.3)	(26.9)
Payment, Tax Withholding, Share-based Payment Arrangement	(7.4)	(13.7)
Proceeds from the exercise of stock options	1.4	15.6
Contributions from noncontrolling interests	7.0	4.8
Net cash provided by financing activities	402.5	249.7
Effect of foreign exchange rate changes	(5.8)	(0.8)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(25.3)	(163.8)
Cash and cash equivalents at beginning of the year	161.7	347.4
Cash and cash equivalents at end of the quarter	$ 136.4	$ 183.6

Consolidated Statement of Shareholders' Equity Statement - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]
Beginning Balance at Jan. 02, 2021	$ 573.0	$ 110.4	$ 252.6	$ 1,093.3	$ (130.6)	$ (764.3)	$ 11.6
Net earnings attributable to Wolverine World Wide, Inc.	83.2			83.2
Less: net loss attributable to noncontrolling interests	(1.2)						(1.2)
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax	82.0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(2.2)				2.2
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest							0.0
Other Comprehensive Income (Loss), Net of Tax	2.2
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	(7.4)	0.4	(7.8)
Stock Issued During Period, Value, Stock Options Exercised	15.7	0.7	15.0
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	30.0		30.0
Dividends, Common Stock, Cash	(25.3)			(25.3)
Stock Issued During Period, Value, Treasury Stock Reissued	0.1		0.0			0.1
Purchase of Common Stock for Treasury	26.9					26.9
Treasury Stock, Value, Acquired, Cost Method	(6.3)					(6.3)
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	4.8						4.8
Ending Balance at Oct. 02, 2021	641.9	111.5	289.8	1,151.2	(128.4)	(797.4)	15.2
Beginning Balance at Jul. 03, 2021	649.1	111.4	278.4	1,159.6	(118.9)	(797.3)	15.9
Net earnings attributable to Wolverine World Wide, Inc.	0.0			0.0
Less: net loss attributable to noncontrolling interests	(0.8)						(0.8)
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax	(0.8)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	9.5				(9.5)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest							0.1
Other Comprehensive Income (Loss), Net of Tax	(9.4)
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	(0.4)	0.0	(0.4)
Stock Issued During Period, Value, Stock Options Exercised	3.5	0.1	3.4
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	8.4		8.4
Dividends, Common Stock, Cash	(8.4)			(8.4)
Treasury Stock, Value, Acquired, Cost Method	(0.1)					(0.1)
Ending Balance at Oct. 02, 2021	641.9	111.5	289.8	1,151.2	(128.4)	(797.4)	15.2
Beginning Balance at Jan. 01, 2022	644.4	111.6	298.9	1,128.2	(98.9)	(810.2)	14.8
Net earnings attributable to Wolverine World Wide, Inc.	173.3			173.3
Less: net loss attributable to noncontrolling interests	(1.6)						(1.6)
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax	171.7
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	60.8				(60.8)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest							(0.8)
Other Comprehensive Income (Loss), Net of Tax	(61.6)
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	(7.5)	0.5	(8.0)
Stock Issued During Period, Value, Stock Options Exercised	1.5	0.1	1.4
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	26.4		26.4
Dividends, Common Stock, Cash	(24.4)			(24.4)
Stock Issued During Period, Value, Treasury Stock Reissued	0.1		0.0			0.1
Purchase of Common Stock for Treasury	(81.3)					(81.3)
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	7.0						7.0
Stockholders' Equity, Other	(2.1)						(2.1)
Ending Balance at Oct. 01, 2022	674.2	112.2	318.7	1,277.1	(159.7)	(891.4)	17.3
Beginning Balance at Jul. 02, 2022	661.8	112.1	311.9	1,246.1	(134.8)	(891.4)	17.9
Net earnings attributable to Wolverine World Wide, Inc.	39.0			39.0
Less: net loss attributable to noncontrolling interests	(0.2)						(0.2)
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax	38.8
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	24.9				(24.9)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest							(0.4)
Other Comprehensive Income (Loss), Net of Tax	(25.3)
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	(0.2)	0.1	(0.3)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	7.1		7.1
Dividends, Common Stock, Cash	(8.0)			(8.0)
Ending Balance at Oct. 01, 2022	$ 674.2	$ 112.2	$ 318.7	$ 1,277.1	$ (159.7)	$ (891.4)	$ 17.3

Statement of Shareholders' Equity (Statement) - Parenthetical - $ / shares	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	20,672	18,229	463,473	414,851
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	137,527	74,482	696,729
Cash dividends declared per share	$ 0.10	$ 0.10	$ 0.30	$ 0.30
Stock Issued During Period, Shares, Treasury Stock Reissued	1,328	1,023	4,203	2,991
Treasury Stock, Shares, Acquired	0	0	(3,815,164)	(716,027)
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	0	(4,743)	0	(171,832)

Summary of Significant Accounting Policies (Notes)	9 Months Ended
Summary of Significant Accounting Policies (Notes)	Oct. 01, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	BASIS OF PRESENTATION Nature of Operations Wolverine World Wide, Inc. (the “Company”) is a leading designer, marketer and licensor of a broad range of quality casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids’ footwear; industrial work shoes, boots and apparel; and uniform shoes and boots. The Company’s portfolio of owned and licensed brands includes: Bates®, Cat®, Chaco®, Harley-Davidson®, Hush Puppies®, Hytest®, Keds®, Merrell®, Saucony®, Sperry®, Stride Rite®, Sweaty Betty® and Wolverine®. The Company’s products are marketed worldwide through owned operations, through licensing and distribution arrangements with third parties, and joint ventures. The Company also operates retail stores and eCommerce sites to market both its own brands and branded footwear and apparel from other manufacturers, as well as a leathers division that markets Wolverine Performance Leathers™. On June 30, 2022, the Company sold the Champion trademarks for footwear in the United States and Canada to HanesBrand Inc., for $90.0 million in cash. The Company recorded a gain of $90.0 million associated with the transaction. On August 2, 2021, the Company completed the acquisition of Lady Leisure InvestCo Limited (the “Acquired Company”) for $417.4 million, which is net of acquired cash of $7.4 million. The Acquired Company owns the Sweaty Betty® brand and activewear business, a premium women’s activewear brand. See Note 16 for further discussion. Basis of Presentation The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for a complete presentation of the financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included in the accompanying financial statements. For further information, refer to the consolidated financial statements and notes included in the Company’s 2021 Form 10-K. The COVID-19 pandemic, the duration and severity of which is subject to uncertainty, has had and continues to have, an impact on the Company's business. Management's estimates and assumptions used in the preparation of the Company’s consolidated financial statements in accordance with U.S. GAAP take into account both current and expected potential future impacts of the COVID-19 pandemic on the Company’s business based on available information. Actual results may differ materially from management’s estimates. Fiscal Year The Company’s fiscal year is the 52 or 53-week period that ends on the Saturday nearest to December 31. Fiscal years 2022 and 2021 each have 52 weeks. The Company reports its quarterly results of operations on the basis of 13-week quarters for each of the first three fiscal quarters and a 13 or 14-week period for the fiscal fourth quarter. References to particular years or quarters refer to the Company’s fiscal years ended on the Saturday nearest to December 31 or the fiscal quarters within those years. Seasonality The Company experiences moderate fluctuations in sales volume during the year, as reflected in quarterly revenue. The Company expects current seasonal sales patterns to continue in future years. The Company also experiences some fluctuation in its levels of working capital, typically reflecting an increase in net working capital requirements near the end of the first and third fiscal quarters as inventory builds to support peak shipping periods. Historically, cash provided by operating activities is higher in the second half of the fiscal year due to collection of wholesale channel receivables and direct-to-consumer sales being higher during the holiday season. The Company meets its working capital requirements through internal operating cash flows and, as needed, borrowings under its revolving credit facility, as discussed in more detail under the caption "Liquidity and Capital Resources" in Item 2: "Management's Discussion and Analysis of Financial Condition and Results of Operations". The Company's working capital could also be impacted by other events, including the COVID-19 pandemic or other events.

New Accounting Standards (Notes)

9 Months Ended

Oct. 01, 2022

Accounting Standards Update and Change in Accounting Principle [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

NEW ACCOUNTING STANDARDS

The Financial Accounting Standards Board (“FASB”) has issued the following Accounting Standards Update (“ASU”) that the Company has not yet adopted. The following is a summary of the new standard.

Standard

Description

Effect on the Financial Statements or Other Significant Matters

ASU 2020-04, Reference Rate Reform (Topic 848); Facilitation of the Effects of Reference Rate Reform on Financial Reporting (as amended by ASU 2021-01)

Provides practical expedients for contract modifications and certain hedging relationships associated with the transition from reference rates that are expected to be discontinued. This guidance is applicable for the Company’s borrowing instruments under the amended senior credit facility, which use LIBOR as a reference rate, and is available for adoption effective immediately but is only available through December 31, 2022.

The Company is evaluating the impact of the new standard on its consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Earnings Per Share (Notes)

9 Months Ended

Oct. 01, 2022

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share.


	Quarter Ended				Year-To-Date Ended
(In millions, except per share data)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Numerator:
Net earnings attributable to Wolverine World Wide, Inc.	$	39.0	$	—	$	173.3	$	83.2
Adjustment for earnings allocated to non-vested restricted common stock	(0.8)		(0.2)		(3.4)		(1.4)


Net earnings (loss) used in calculating basic and diluted earnings per share	$	38.2	$	(0.2)	$	169.9	$	81.8
Denominator:
Weighted average shares outstanding	78.7		82.3		80.0		82.5
Adjustment for non-vested restricted common stock	—		—		—		(0.1)
Shares used in calculating basic earnings per share	78.7		82.3		80.0		82.4
Effect of dilutive stock options	0.2		—		0.2		1.0
Shares used in calculating diluted earnings per share	78.9		82.3		80.2		83.4
Net earnings per share:
Basic	$	0.49	$	0.00	$	2.12	$	0.99
Diluted	$	0.48	$	0.00	$	2.12	$	0.98

For the quarter and year-to-date ended October 1, 2022, 1,422,302 and 1,126,353 outstanding stock options, respectively, have not been included in the denominator for the computation of diluted earnings per share because they were anti-dilutive.

For the quarter and year-to-date ended October 2, 2021, 494,447 and 576,081 outstanding stock options, respectively, have not been included in the denominator for the computation of diluted earnings per share because they were anti-dilutive.

Goodwill and Indefinite-Lived Intangibles (Notes)

9 Months Ended

Oct. 01, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Indefinite-Lived Intangibles

GOODWILL AND INDEFINITE-LIVED INTANGIBLES

The changes in the carrying amount of goodwill are as follows:


	Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021
Goodwill balance at beginning of the year	$	556.6	$	442.4

Acquisition of a business (see Note 16)	—		117.4
Foreign currency translation effects	(30.1)		(4.3)
Goodwill balance at end of the quarter	$	526.5	$	555.5

The Company’s indefinite-lived intangible assets, which comprise trade names and trademarks, totaled $658.6 million, $718.1 million, and $718.3 million as of October 1, 2022, January 1, 2022, and October 2, 2021, respectively. The carrying values of the Company’s Sperry® and Sweaty Betty® trade names were $296.0 million and $276.3 million, respectively, as of October 1, 2022. Based on the interim impairment assessment as of October 1, 2022, it was determined that there were no triggering events indicating impairment of the Company’s goodwill and indefinite-lived intangible assets. The risk of future non-cash impairment for the Sperry® and Sweaty Betty® trade names is dependent on whether actual results differ from the key assumptions used in the determination of the trade name's fair value, such as revenue growth, earnings before interest, taxes, depreciation and amortization ("EBITDA") margin, discount rate, and assumed tax rate, or if macroeconomic conditions deteriorate and adversely affect the values of the Company's Sperry® and Sweaty Betty® trade names.

Revenue From Contracts With Customers (Notes)

9 Months Ended

Oct. 01, 2022

Revenue From Contracts With Customers [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue Recognition and Performance Obligations

The Company provides disaggregated revenue by sales channel, including the wholesale and direct-to-consumer sales channels, reconciled to the Company’s reportable segments. The wholesale channel includes royalty revenues due to the similarity in the Company’s oversight and management, customer base, the performance obligation (footwear and apparel goods) and point in time completion of the performance obligation. The direct-to-consumer sales channel includes sales from the Company’s owned retail stores and from the Company’s owned eCommerce sites.


	Quarter Ended October 1, 2022						Quarter Ended October 2, 2021
(In millions)	Wholesale		Direct-to-Consumer		Total		Wholesale		Direct-to-Consumer		Total
Wolverine Michigan Group	$	322.5	$	67.7	$	390.2	$	263.2	$	61.6	$	324.8
Wolverine Boston Group	191.0		56.7		247.7		202.7		56.1		258.8
Other	18.1		35.4		53.5		17.9		35.2		53.1
Total	$	531.6	$	159.8	$	691.4	$	483.8	$	152.9	$	636.7


	Year-To-Date Ended October 1, 2022						Year-To-Date Ended October 2, 2021
(In millions)	Wholesale		Direct-to-Consumer		Total		Wholesale		Direct-to-Consumer		Total
Wolverine Michigan Group	$	920.3	$	188.9	$	1,109.2	$	779.6	$	197.3	$	976.9
Wolverine Boston Group	556.8		157.1		713.9		548.0		169.7		717.7
Other	75.3		121.4		196.7		47.3		37.4		84.7
Total	$	1,552.4	$	467.4	$	2,019.8	$	1,374.9	$	404.4	$	1,779.3

The Company has agreements to license symbolic intellectual property with minimum guarantees or fixed consideration. The Company was due $12.9 million of remaining fixed transaction price under its license agreements as of October 1, 2022, which it expects to recognize per the terms of its contracts over the course of time through December 2026. The Company has elected to omit the remaining variable consideration under its license agreements given the Company recognizes revenue equal to what it has the right to invoice and that amount corresponds directly with the value to the customer of the Company’s performance to date.

Reserves for Variable Consideration

Revenue is recorded at the net sales price (“transaction price”), which includes estimates of variable consideration for which reserves are established. Components of variable consideration include trade discounts and allowances, product returns, customer markdowns, customer rebates and other sales incentives relating to the sale of the Company’s products. These reserves, as detailed below, are based on the amounts earned, or to be claimed on the related sales. These estimates take into consideration a range of possible outcomes, which are probability-weighted in accordance with the expected value method for relevant factors such as current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the respective underlying contracts. Revenue recognized during the fiscal periods presented related to the Company’s contract liabilities was nominal.

The Company’s contract balances are as follows:


(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Product returns reserve	$	11.6	$	16.6	$	14.5
Customer markdowns reserve	2.2		2.3		2.9
Other sales incentives reserve	3.7		3.4		4.5
Customer rebates liability	18.2		17.0		16.6
Customer advances liability	5.3		6.8		5.2

The amount of variable consideration included in the transaction price may be constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized under the contract will not occur in a future period. Actual amounts of consideration ultimately received may differ from initial estimates. If actual results in the future vary from initial estimates, the Company subsequently adjusts these estimates, which affects net revenue and earnings in the period such variances become known.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Debt (Notes)

9 Months Ended

Oct. 01, 2022

Debt Disclosure [Abstract]

Debt

DEBT

Total debt consists of the following obligations:


(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Term Facility, due October 21, 2026	$	192.5	$	200.0	$	—
Term Loan A, due December 6, 2023	—		—		172.5



Senior Notes, 4.000% interest, due August 15, 2029	550.0		550.0		550.0
Borrowings under revolving credit agreements	740.0		225.0		310.0
Unamortized deferred financing costs	(7.3)		(8.2)		(8.1)
Total debt	$	1,475.2	$	966.8	$	1,024.4

On October 21, 2021, the Company entered into a 2021 Replacement Facility Amendment and Reaffirmation Agreement (the “Amendment”) of its credit facility (as amended and restated, the "Credit Agreement"). The Amendment amended and restated the prior credit agreement to, among other things: (i) provide for a term loan A facility (the “Term Facility”) in an aggregate principal amount of $200.0 million, which replaced the existing term loan A; (ii) provide for an increased revolving credit facility (the “Revolving Facility” and, together with the Term Facility, the “Senior Credit Facilities”) with total commitments of $1.0 billion, an increase of $200.0 million from the existing Revolving Facility; and (iii) set the LIBOR floor to 0.000%, a decrease of 0.750% from the existing Senior Credit Facilities. The maturity date of the loans under the Senior Credit Facilities was extended to October 21, 2026. The Amendment provides for a debt capacity of up to an aggregate debt amount (including outstanding term loan principal and revolver commitment amounts in addition to permitted incremental debt) not to exceed $2.0 billion unless certain specified conditions set forth in the Credit Agreement are met.

The Term Facility requires quarterly principal payments with a balloon payment due on October 21, 2026. The scheduled principal payments due under the Term Facility over the next 12 months total $10.0 million as of October 1, 2022 and are recorded as current maturities of long-term debt on the consolidated condensed balance sheets.

The Revolving Facility allows the Company to borrow up to an aggregate amount of $1.0 billion. The Revolving Facility also includes a $100.0 million swingline subfacility and a $50.0 million letter of credit subfacility. The Company had outstanding letters of credit under the Revolving Facility of $5.6 million, $5.8 million and $5.9 million as of October 1, 2022, January 1, 2022 and October 2, 2021, respectively. These outstanding letters of credit reduce the borrowing capacity under the Revolving Facility.

The interest rates applicable to amounts outstanding under Term Facility and to U.S. dollar denominated amounts outstanding under the Revolving Facility are, at the Company’s option, either (1) the Alternate Base Rate plus an Applicable Margin as determined by the Company’s Consolidated Leverage Ratio, within a range of 0.125% to 1.000%, or (2) the Eurocurrency Rate plus an Applicable Margin as determined by the Company’s Consolidated Leverage Ratio, within a range of 1.125% to 2.000% (all capitalized terms used in this sentence are as defined in the Credit Agreement). At October 1, 2022, the Term Facility and the Revolving Facility had a weighted-average interest rate of 3.81%.

The obligations of the Company pursuant to the Credit Agreement are guaranteed by substantially all of the Company’s material domestic subsidiaries and secured by substantially all of the personal and real property of the Company and its material domestic subsidiaries, subject to certain exceptions.

The Senior Credit Facilities also contain certain affirmative and negative covenants, including covenants that limit the ability of the Company and its Restricted Subsidiaries to, among other things: incur or guarantee indebtedness; incur liens; pay dividends or repurchase stock; enter into transactions with affiliates; consummate asset sales, acquisitions or mergers; prepay certain other indebtedness; or make investments, as well as covenants restricting the activities of certain foreign subsidiaries of the Company that hold intellectual property related assets. Further, the Senior Credit Facilities require compliance with the following financial covenants: a maximum Consolidated Leverage Ratio and a minimum Consolidated Interest Coverage Ratio (all capitalized terms used in this paragraph are as defined in the Senior Credit Facilities). As of October 1, 2022, the Company was in compliance with all covenants and performance ratios under the Senior Credit Facilities.

On August 26, 2021, the Company issued $550.0 million aggregate principal debt amount of 4.000% senior notes due on August 15, 2029. Related interest payments are due semi-annually beginning February 15, 2022. The senior notes are guaranteed by substantially all of the Company’s domestic subsidiaries. The proceeds from the senior notes were used to extinguish the Company’s $250.0 million senior notes due on September 1, 2026 and $300.0 million senior notes due on May 15, 2025. The Company incurred $34.0 million of debt extinguishment and other costs in connection with the extinguishment of the senior notes, of which $28.4 million is related to redemption premiums and $5.6 million is related to the write-off of capitalized financing fees.

The Company has a foreign revolving credit facility with aggregate available borrowings of $2.0 million that are uncommitted and, therefore, each borrowing against the facility is subject to approval by the lender. There were no borrowings against this facility as of October 1, 2022, January 1, 2022 and October 2, 2021.

The Company included in interest expense the amortization of deferred financing costs of $0.5 million and $1.5 million for the quarter and year-to-date ended October 1, 2022, respectively. The Company included in interest expense the amortization of deferred financing costs of $0.6 million and $1.9 million for the quarter and year-to-date ended October 2, 2021, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Leases (Notes)

9 Months Ended

Oct. 01, 2022

Leases [Abstract]

Lessee, Operating Leases [Text Block]

LEASES

The following is a summary of the Company’s lease cost.


	Quarter Ended				Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Operating lease cost	$	8.6	$	9.0	$	26.4	$	25.1
Variable lease cost	3.8		3.3		11.4		9.4
Short-term lease cost	0.6		0.3		2.2		0.8
Sublease income	(2.0)		(1.5)		(6.2)		(4.8)
Total lease cost	$	11.0	$	11.1	$	33.8	$	30.5

The following is a summary of the Company’s supplemental cash flow information related to leases.


	Quarter Ended				Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Cash paid for operating lease liabilities	$	11.1	$	9.8	$	30.3	$	27.9
Operating lease assets obtained in exchange for lease liabilities	9.7		0.4		59.0		3.8

The Company did not enter into any real estate leases with commencement dates subsequent to October 1, 2022.

Financial Instruments and Risk Management (Notes)

9 Months Ended

Oct. 01, 2022

Investments, All Other Investments [Abstract]

Financial Instruments and Risk Management

DERIVATIVE FINANCIAL INSTRUMENTSThe Company utilizes foreign currency forward exchange contracts designated as cash flow hedges to manage the volatility associated primarily with U.S. dollar inventory purchases made by non-U.S. wholesale operations in the normal course of business. These foreign currency forward exchange hedge contracts extended out to a maximum of 524 days, 538 days, and 538 days as of October 1, 2022, January 1, 2022 and October 2, 2021, respectively. If, in the future, the foreign exchange contracts are determined not to be highly effective or are terminated before their contractual termination dates, the Company would

remove the hedge designation from those contracts and reclassify into earnings the unrealized gains or losses that would otherwise be included in accumulated other comprehensive income (loss) within stockholders’ equity.

The Company also utilizes foreign currency forward exchange contracts that are not designated as hedging instruments to manage foreign currency transaction exposure. Foreign currency derivatives not designated as hedging instruments are offset by foreign exchange gains or losses resulting from the underlying exposures of foreign currency denominated assets and liabilities.

The Company has an interest rate swap arrangement, which unless otherwise terminated, will mature on May 30, 2025. This agreement, which exchanges floating rate interest payments for fixed rate interest payments over the life of the agreement without the exchange of the underlying notional amounts, has been designated as a cash flow hedge of the underlying debt. The notional amount of the interest rate swap arrangement is used to measure interest to be paid or received and does not represent the amount of exposure to credit loss. The differential paid or received on the interest rate swap arrangement is recognized as interest expense, net. In accordance with FASB Accounting Standards Codification (“ASC”) Topic 815, Derivatives and Hedging, the Company has formally documented the relationship between the interest rate swap and the variable rate borrowing, as well as its risk management objective and strategy for undertaking the hedge transactions. This process included linking the derivative to the specific liability or asset on the balance sheet. The Company also assessed at the inception of the hedge, and continues to assess on an ongoing basis, whether the derivative used in the hedging transaction is highly effective in offsetting changes in the cash flows of the hedged item.

The Company had a cross currency swap to minimize the impact of exchange rate fluctuations which matured on September 1, 2021. Changes in fair value related to movements in the foreign currency exchange spot rate were recorded in accumulated other comprehensive income (loss), offsetting the currency translation adjustment related to the underlying net investment that was also recorded in accumulated other comprehensive income (loss). All other changes in fair value were recorded in interest expense.

The notional amounts of the Company’s derivative instruments are as follows:


(Dollars in millions)	October 1, 2022		January 1, 2022		October 2, 2021
Foreign exchange hedge contracts	$	376.3	$	296.7	$	297.1
Foreign exchange non-hedge contracts	—		—		4.1
Interest rate swap	240.6		311.3		—

The recorded fair values of the Company’s derivative instruments are as follows:




(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Financial assets:
Foreign exchange hedge contracts	$	32.3	$	5.9	$	4.9

Interest rate swap	7.2		—		—

Financial liabilities:
Foreign exchange hedge contracts	$	—	$	(1.0)	$	(1.0)

Interest rate swap	—		(0.1)		—

Stock-Based Compensation (Notes)

9 Months Ended

Oct. 01, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

The Company recognized compensation expense of $7.1 million and $26.4 million, and related income tax benefits of $1.4 million and $5.1 million, for grants under its stock-based compensation plans for the quarter and year-to-date ended October 1, 2022, respectively. The Company recognized compensation expense of $8.4 million and $30.0 million, and related income tax benefits of $1.7 million and $5.9 million, for grants under its stock-based compensation plans for the quarter and year-to-date ended October 2, 2021, respectively.

The Company grants restricted stock or units (“restricted awards”), performance-based restricted stock or units (“performance awards”) and stock options under its stock-based compensation plans.

The Company granted restricted awards and performance awards as follows:


	Year-To-Date Ended October 1, 2022			Year-To-Date Ended October 2, 2021
(In millions)	Company Shares Issued	Weighted-Average Grant Date Fair Value		Company Shares Issued	Weighted-Average Grant Date Fair Value
Restricted Awards	965,341	$	26.06	613,716	$	34.77
Performance Awards	393,647	$	29.90	625,750	$	35.73

Retirement Plans (Notes)

9 Months Ended

Oct. 01, 2022

Retirement Benefits [Abstract]

Retirement Plans

RETIREMENT PLANS

The following is a summary of net pension and Supplemental Executive Retirement Plan (“SERP”) expense recognized by the Company.


	Quarter Ended				Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Service cost pertaining to benefits earned during the period	$	1.3	$	1.7	$	4.0	$	5.2
Interest cost on projected benefit obligations	3.3		3.2		9.9		9.6
Expected return on pension assets	(5.1)		(4.8)		(15.4)		(14.6)
Net amortization loss	2.9		3.4		8.5		10.3
Net pension expense	$	2.4	$	3.5	$	7.0	$	10.5

The non-service cost components of net pension expense is recorded in the Other expense (income), net line item on the consolidated condensed statements of operations and comprehensive income.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Income Taxes (Notes)	9 Months Ended
Income Taxes (Notes)	Oct. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company maintains management and operational activities in overseas subsidiaries, and its foreign earnings are taxed at rates that are different than the U.S. federal statutory income tax rate. A significant amount of the Company’s earnings are generated by its Canadian, European and Asian subsidiaries and, to a lesser extent, in jurisdictions that are not subject to income tax. The Company intends to permanently reinvest all non-cash undistributed earnings outside of the U.S. and has therefore not established a deferred tax liability on that amount of foreign unremitted earnings. However, if these non-cash undistributed earnings were repatriated, the Company would be required to accrue and pay applicable U.S. taxes and withholding taxes payable to various countries. It is not practicable to estimate the amount of the deferred tax liability associated with these non-cash unremitted earnings due to the complexity of the hypothetical calculation. The Company’s effective tax rates for the quarter and year-to-date ended October 1, 2022 were 10.9% and 19.3%, respectively. The Company’s effective tax rates for the quarter and year-to-date ended October 2, 2021 were (11.6)% and 17.1%, respectively. The increase in the effective tax rate for the quarter-to-date period is due to the discrete tax benefits in the prior year had a greater impact due to the lower pretax income in the prior year resulting in a lower effective tax rate. The increase in the effective tax rate for the year-to-date period is due to lower discrete tax benefits in the current year compared to the prior year. The Company is subject to periodic audits by U.S. federal, state, local and non-U.S. tax authorities. Currently, the Company is undergoing routine periodic audits in both U.S. federal, state, local and non-U.S. tax jurisdictions. It is reasonably possible that the amounts of unrecognized tax benefits could change in the next 12 months as a result of the audits; however, any payment of tax is not expected to be significant to the consolidated condensed financial statements. The Company is no longer subject to U.S. federal, state and local or non-U.S. income tax examinations by tax authorities for years before 2017 in the majority of tax jurisdictions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

Accumulated Other Comprehensive Income (Loss) (Notes)

9 Months Ended

Oct. 01, 2022

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) represents net earnings and any revenue, expenses, gains and losses that, under U.S. GAAP, are excluded from net earnings and recognized directly as a component of stockholders’ equity.

The change in accumulated other comprehensive income (loss) during the quarters ended October 1, 2022 and October 2, 2021 is as follows:


(In millions)	Foreign currency translation		Derivatives			Pension			Total
Balance at July 3, 2021	$	(35.9)	$	(14.9)		$	(68.1)		$	(118.9)
Other comprehensive income (loss) before reclassifications (1)	(16.9)		3.1			—			(13.8)
Amounts reclassified from accumulated other comprehensive income (loss)	—		2.0		(2)	3.4		(3)	5.4
Income tax expense (benefit)	—		(0.5)			(0.6)			(1.1)
Net reclassifications	—		1.5			2.8			4.3
Net current-period other comprehensive income (loss) (1)	(16.9)		4.6			2.8			(9.5)

Balance at October 2, 2021	$	(52.8)	$	(10.3)		$	(65.3)		$	(128.4)

Balance at July 2, 2022	$	(115.9)	$	9.8		$	(28.7)		$	(134.8)
Other comprehensive income (loss) before reclassifications (1)	(40.9)		17.4			—			(23.5)
Amounts reclassified from accumulated other comprehensive income (loss)	—		(4.7)		(2)	2.9		(3)	(1.8)
Income tax expense (benefit)	—		1.1			(0.7)			0.4
Net reclassifications	—		(3.6)			2.2			(1.4)
Net current-period other comprehensive income (loss) (1)	(40.9)		13.8			2.2			(24.9)
Balance at October 1, 2022	$	(156.8)	$	23.6		$	(26.5)		$	(159.7)

(1)Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.

(2)Amounts related to foreign currency derivatives are included in cost of goods sold. Amounts related to foreign currency derivatives that are no longer deemed to be highly effective are included in other income. Amounts related to the interest rate swap and the cross-currency swap are included in interest expense.

(3)Amounts reclassified are included in the computation of net pension expense.

The change in accumulated other comprehensive income (loss) during the year-to-dates ended October 1, 2022 and October 2, 2021 is as follows:


(In millions)	Foreign currency translation		Derivatives			Pension			Total
Balance at January 2, 2021	$	(36.8)	$	(20.3)		$	(73.5)		$	(130.6)
Other comprehensive income (loss) before reclassifications (1)	(16.0)		6.3			—			(9.7)
Amounts reclassified from accumulated other comprehensive income (loss)	—		5.0		(2)	10.3		(3)	15.3
Income tax expense (benefit)	—		(1.3)			(2.1)			(3.4)
Net reclassifications	—		3.7			8.2			11.9
Net current-period other comprehensive income (loss) (1)	(16.0)		10.0			8.2			2.2
Balance at October 2, 2021	$	(52.8)	$	(10.3)		$	(65.3)		$	(128.4)

Balance at January 1, 2022	$	(56.8)	$	(8.9)		$	(33.2)		$	(98.9)
Other comprehensive income (loss) before reclassifications (1)	(100.0)		39.1			—			(60.9)
Amounts reclassified from accumulated other comprehensive income (loss)	—		(8.7)		(2)	8.5		(3)	(0.2)
Income tax expense (benefit)	—		2.1			(1.8)			0.3
Net reclassifications	—		(6.6)			6.7			0.1
Net current-period other comprehensive income (loss) (1)	(100.0)		32.5			6.7			(60.8)
Balance at October 1, 2022	$	(156.8)	$	23.6		$	(26.5)		$	(159.7)

(1)Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.

(3)Amounts reclassified are included in the computation of net pension expense.

Fair Value Measurements (Notes)

9 Months Ended

Oct. 01, 2022

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

FAIR VALUE MEASUREMENTS

The Company measures certain financial assets and liabilities at fair value on a recurring basis. For additional information regarding the Company’s fair value policies, refer to Note 1 in the Company’s 2021 Form 10-K.

Recurring Fair Value Measurements

The following table sets forth financial assets and liabilities measured at fair value in the consolidated condensed balance sheets and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy.


	Fair Value Measurements
	Quoted Prices With Other Observable Inputs (Level 2)
(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Financial assets:
Derivatives	$	39.5	$	5.9	$	4.9
Financial liabilities:
Derivatives	$	—	$	(1.1)	$	(1.0)

The fair value of foreign currency forward exchange contracts represents the estimated receipts or payments necessary to terminate the contracts. The interest rate swap was valued based on the current forward rates of the future cash flows. The fair value of the cross-currency swap was determined using the current forward rates and changes in the spot rate.

Fair Value Disclosures

The Company’s financial instruments that are not recorded at fair value consist of cash and cash equivalents, accounts and notes receivable, accounts payable, borrowings under revolving credit agreements and other short-term and long-term debt. The carrying amount of these financial instruments is historical cost, which approximates fair value, except for the debt. The carrying value and the fair value of the Company’s debt are as follows:


(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Carrying value	$	1,475.2	$	966.8	$	1,024.4
Fair value	1,355.2		960.6		1,042.5

The fair value of the fixed rate debt was based on third-party quotes (Level 2). The fair value of the variable rate debt was calculated by discounting the future cash flows to its present value using a discount rate based on the risk-free rate of the same maturity (Level 3).

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Litigation and Contingencies (Notes)

9 Months Ended

Oct. 01, 2022

Commitments and Contingencies Disclosure [Abstract]

Litigation and Contingencies

LITIGATION AND CONTINGENCIES

Litigation

The Company operated a leather tannery in Rockford, Michigan from the early 1900s through 2009 (the “Tannery”). The Company also owns a parcel on House Street in Plainfield Township that the Company used for the disposal of Tannery byproducts until about 1970 (the "House Street" site). Beginning in the late 1950s, the Company used 3M Company’s Scotchgard™ in its processing of certain leathers at the Tannery. Until 2002 when 3M Company changed its Scotchgard™ formula, Tannery byproducts disposed of by the Company at the House Street site and other locations may have contained PFOA and/or PFOS, two chemicals in the family of compounds known as per- and polyfluoroalkyl substances (together, “PFAS”). PFOA and PFOS help provide non-stick, stain-resistant, and water-resistant qualities, and were used for many decades in commercial products like firefighting foams and metal plating, and in common consumer items like food wrappers, microwave popcorn bags, pizza boxes, Teflon™, carpets and Scotchgard™.

In May 2016, the Environmental Protection Agency (“EPA”) announced a lifetime health advisory level of 70 parts per trillion (“ppt”) combined for PFOA and PFOS, which the EPA reduced in June 2022 to 0.004 ppt and 0.02 ppt for PFOA and PFOS, respectively. In January 2018, the Michigan Department of Environmental Quality (“MDEQ”, now known as the Michigan Department of Environment, Great Lakes, and Energy (“EGLE”)) enacted a drinking water criterion of 70 ppt combined for PFOA and PFOS, which set an official state standard for acceptable concentrations of these contaminants in groundwater used for drinking water purposes. On August 3, 2020, Michigan changed the standards for PFOA and PFOS in drinking water to 8 and 16 ppt, respectively, and set standards for four other PFAS substances.

Civil and Regulatory Actions of EGLE and EPA

On January 10, 2018, EGLE filed a civil action against the Company in the U.S. District Court for the Western District of Michigan under the federal Resource Conservation and Recovery Act of 1976 (“RCRA”) and Parts 201 and 31 of the Michigan Natural Resources and Environmental Protection Act (“NREPA”) alleging that the Company’s past and present handling, storage, treatment, transportation and/or disposal of solid waste at the Company’s properties has resulted in releases of PFAS at levels exceeding applicable Michigan cleanup criteria for PFOA and PFOS (the "EGLE Action"). Plainfield and Algoma Townships intervened in the EGLE Action alleging claims under RCRA, NREPA, the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”) and common law nuisance.

On February 3, 2020, the parties entered into a consent decree resolving the EGLE Action, which was approved by U.S. District Judge Janet T. Neff on February 19, 2020 (the “Consent Decree”). Under the Consent Decree, the Company agreed to pay for an extension of Plainfield Township’s municipal water system to more than 1,000 properties in Plainfield and Algoma Townships, subject to an aggregate cap of $69.5 million. The Company also agreed to continue maintaining water filters for certain homeowners, resample certain residential wells for PFAS, continue remediation at the Company’s Tannery property and House Street site, and conduct further investigations and monitoring to assess the presence of PFAS in area groundwater. The Company’s activities under the Consent Decree are not materially impacted by either the drinking water standards that became effective on August 3, 2020, or the EPA’s revised advisory levels issued in June 2022.

On December 19, 2018, the Company filed a third-party complaint against 3M Company seeking, among other things, recovery of the Company’s remediation and other costs incurred in defense of the EGLE Action ("the 3M Action"). On June 20, 2019, the 3M Company filed a counterclaim against the Company in response to the 3M Action, seeking, among other things, contractual and common law indemnity and contribution under CERCLA and Part 201 of NREPA. On February 20, 2020, the Company and 3M Company entered into a settlement agreement resolving the 3M Action, under which 3M Company paid the Company a lump sum amount of $55.0 million during the first quarter of 2020.

On January 10, 2018, the EPA entered a Unilateral Administrative Order (the “Order”) under Section 106(a) of CERCLA, 42 U.S.C. § 9606(a) with an effective date of February 1, 2018. The Order pertained to specified removal actions at the Company's Tannery and House Street sites, including certain time critical removal actions subsequently identified in an April 29, 2019 letter from the EPA, to abate the actual or threatened release of hazardous substances at or from the sites. On October 28, 2019, the EPA and the Company entered into an Administrative Settlement and Order on Consent (“AOC”) that supersedes the Order and addresses the agreed-upon removal actions outlined in the Order. The Company has completed the activities required by the AOC, and is awaiting the final review and determination from the EPA

The Company discusses its reserve for remediation costs in the environmental liabilities section below.

Individual and Class Action Litigation

Beginning in late 2017, individual lawsuits and three putative class action lawsuits were filed against the Company that raise a variety of claims, including claims related to property, remediation, and human health effects. The three putative class action lawsuits were subsequently refiled in the U.S. District Court for the Western District of Michigan as a single consolidated putative class action lawsuit. 3M Company has been named as a co-defendant in the individual lawsuits and consolidated putative class action lawsuit. In addition, the current owner of a former landfill and gravel mining operation sued the Company seeking damages and cost recovery for property damage allegedly caused by the Company’s disposal of tannery waste containing PFAS (this suit collectively with the individual lawsuits and putative class action, the “Litigation Matters”).

On September 27, 2021, the Company and 3M Company entered into a non-binding term sheet outlining proposed settlement terms with the law firm representing certain of the plaintiffs in the individual lawsuits included in the Litigation Matters, and on January 11, 2022, the Company and 3M Company entered into a master settlement agreement with the law firm representing certain of the plaintiffs in the individual lawsuits included in the Litigation Matters, and each of these plaintiffs subsequently agreed to participate in the settlement. Such plaintiffs’ lawsuits were dismissed with prejudice on or around April 25, 2022.

On December 9, 2021, the Company and 3M Company reached a settlement in principle to resolve certain of the remaining individual lawsuits included in the Litigation Matters, and the parties entered into definitive settlement agreements in March

2022. These plaintiffs’ lawsuits were dismissed with prejudice on June 14, 2022. The last remaining individual action was dismissed without prejudice on June 24, 2022.

In addition, in September 2022, the parties to the putative class action filed a motion for preliminary approval of a proposed class action settlement seeking to resolve the putative class action plaintiffs’ claims (the “Motion for Preliminary Approval”). On September 19, 2022, the court granted the Motion for Preliminary Approval and scheduled a final approval hearing regarding the settlement for March 29, 2023.

Only one of the Litigation Matters, the lawsuit filed by the current owner of a former landfill and gravel mining operations, remains pending in Michigan state court, and it is in the discovery and motions stages of litigation.

For certain of the Litigation Matters described above and as a result of developments during the first three quarters of 2022, the Company increased its accrual by $37.8 million since January 1, 2022 and made related payments of $50.1 million. As of October 1, 2022, the Company had recorded liabilities of $37.8 million for certain of the Litigation Matters described above which are recorded as other accrued liabilities in the consolidated condensed balance sheets. At the current quarter ended, the Company has determined a potential liability is not probable with respect to the one remaining Litigation Matter that is still pending.

In December 2018, the Company filed a lawsuit against certain of its historic liability insurers, seeking to compel them to provide a defense against the Litigation Matters on the Company's behalf and coverage for remediation efforts undertaken by, and indemnity provided by, the Company. The Company recognized certain recoveries from legacy insurance policies in 2022 and 2021, and continues pursing additional recoveries through the lawsuit.

Other Litigation

The Company is also involved in litigation incidental to its business and is a party to legal actions and claims, including, but not limited to, those related to employment, intellectual property, and other environmental matters. Some of the legal proceedings include claims for compensatory as well as punitive damages. While the final outcome of these matters cannot be predicted with certainty, considering, among other things, the meritorious legal defenses available to the Company and reserves for liabilities that the Company has recorded, along with applicable insurance, it is management’s opinion that the outcome of these items are not expected to have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Environmental Liabilities

The following is a summary of the activity with respect to the environmental remediation reserve established by the Company:


	Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021
Remediation liability at beginning of the year	$	85.7	$	101.8

Amounts paid	(21.3)		(21.1)
Remediation liability at the end of the quarter	$	64.4	$	80.7

The reserve balance as of October 1, 2022 includes $30.9 million that is expected to be paid within the next twelve months and is recorded as a current obligation in other accrued liabilities, with the remaining $33.5 million expected to be paid over the course of up to 25 years, recorded in other liabilities.

The Company's remediation activity at the Tannery property, House Street site and other relevant disposal sites is ongoing. Although the Consent Decree has made near-term costs more clear, it is difficult to estimate the long-term cost of environmental compliance and remediation given the uncertainties regarding the interpretation and enforcement of applicable environmental laws and regulations, the extent of environmental contamination and the existence of alternative cleanup methods. Future developments may occur that could materially change the Company’s current cost estimates, including, but not limited to: (i) changes in the information available regarding the environmental impact of the Company’s operations and products; (ii) changes in environmental regulations, changes in permissible levels of specific compounds in drinking water sources, or changes in enforcement theories and policies, including efforts to recover natural resource damages; (iii) new and evolving analytical and remediation techniques; (iv) changes to the form of remediation; (v) success in allocating liability to other potentially responsible parties; and (vi) the financial viability of other potentially responsible parties and third-party indemnitors. For locations at which remediation activity is largely ongoing, the Company cannot estimate a possible loss or range of loss in excess of the associated established reserves for the reasons described above. The Company adjusts recorded liabilities as further information develops or circumstances change.

Minimum Royalties and Advertising Commitments

The Company has future minimum royalty and advertising obligations due under the terms of certain licenses held by the Company. These minimum future obligations for the fiscal periods subsequent to October 1, 2022 are as follows:


(In millions)	2022		2023		2024		2025		2026		Thereafter
Minimum royalties	$	—	$	—	$	—	$	—	$	—	$	—
Minimum advertising	$	—	$	3.9	$	3.9	$	4.2	$	4.3	$	—

Minimum royalties are based on both fixed obligations and assumptions regarding the Consumer Price Index. Royalty obligations in excess of minimum requirements are based upon future sales levels. In accordance with these agreements, the Company incurred royalty expense of $0.7 million and $1.9 million for the quarter and year-to-date ended October 1, 2022, respectively. For the quarter and year-to-date ended October 2, 2021, the Company incurred royalty expense in accordance with these agreements of $0.6 million and $1.7 million, respectively.

The terms of certain license agreements also require the Company to make advertising expenditures based on the level of sales of the licensed products. In accordance with these agreements, the Company incurred advertising expense of $1.9 million and $4.8 million for the quarter and year-to-date ended October 1, 2022, respectively. For the quarter and year-to-date ended October 2, 2021, the Company incurred advertising expense in accordance with these agreements of $1.4 million and $4.1 million, respectively.

Business Segments (Notes)

9 Months Ended

Oct. 01, 2022

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

The Company’s portfolio of brands is organized into the following two operating segments, which the Company has determined to be reportable segments.

•Wolverine Michigan Group, consisting of Merrell® footwear and apparel, Cat® footwear, Wolverine® footwear and apparel, Chaco® footwear, Hush Puppies® footwear and apparel, Bates® uniform footwear, Harley-Davidson® footwear and Hytest® safety footwear; and

•Wolverine Boston Group, consisting of Sperry® footwear, Saucony® footwear and apparel, Keds® footwear, and the Kids’ footwear business, which includes the Stride Rite® licensed business, as well as Kids' footwear offerings from Saucony®, Sperry®, Keds®, Merrell®, Hush Puppies® and Cat®.

The Company also reports “Other” and “Corporate” categories. The Other category consists of the Sweaty Betty® activewear business, the Company’s leather marketing operations, sourcing operations that include third-party commission revenues and multi-branded direct-to-consumer retail stores. The Corporate category consists of the Champion trademarks gain in 2022 and unallocated corporate expenses, such as corporate employee costs, costs related to the COVID-19 pandemic and environmental and other related costs.

The reportable segments are engaged in designing, manufacturing, sourcing, marketing, licensing and distributing branded footwear, apparel and accessories. Revenue for the reportable segments includes revenue from the sale of branded footwear, apparel and accessories to third-party customers; revenue from third-party licensees and distributors; and revenue from the Company’s direct-to-consumer businesses. The Company’s reportable segments are determined based on how the Company internally reports and evaluates financial information used to make operating decisions.

On November 9, 2022, the Company announced changes to its reportable segments as a result of changes in how its Chief Operating Decision Maker, the Company’s Chief Executive Officer, allocates resources to and assesses performance of the Company’s operating segments. Changes to the Company’s segment reporting will be reflected in the financial statements for the year ended December 31, 2022. The Company’s reportable segments will be Active, Work and Lifestyle.

Company management uses various financial measures to evaluate the performance of the reportable segments. The following is a summary of certain key financial measures for each reportable segment.


	Quarter Ended				Year-to-Date Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Revenue:
Wolverine Michigan Group	$	390.2	$	324.8	$	1,109.2	$	976.9
Wolverine Boston Group	247.7		258.8		713.9		717.7
Other	53.5		53.1		196.7		84.7
Total	$	691.4	$	636.7	$	2,019.8	$	1,779.3
Segment operating profit (loss):
Wolverine Michigan Group	$	72.3	$	61.3	$	219.7	$	196.0
Wolverine Boston Group	32.2		44.1		101.3		125.2
Other	(5.2)		2.4		(5.6)		3.9
Corporate	(40.5)		(65.3)		(69.1)		(160.7)
Operating profit	58.8		42.5		246.3		164.4
Interest expense, net	12.5		9.6		$	31.3	$	28.9
Debt extinguishment and other costs	—		34.0		—		34.0
Other expense (income), net	2.7		(0.4)		$	2.2	$	2.5
Earnings (loss) before income taxes	$	43.6	$	(0.7)	$	212.8	$	99.0


(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Total assets:
Wolverine Michigan Group	$	1,071.3	$	651.9	$	692.5
Wolverine Boston Group	1,369.3		1,123.6		1,162.4
Other	536.7		606.2		599.6
Corporate	193.3		204.7		226.9
Total	$	3,170.6	$	2,586.4	$	2,681.4
Goodwill:
Wolverine Michigan Group	$	141.0	$	145.1	$	145.2
Wolverine Boston Group	290.7		296.2		296.4
Other	94.8		115.3		113.9
Total	$	526.5	$	556.6	$	555.5

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Combinations (Notes)

9 Months Ended

Oct. 01, 2022

Business Combinations [Abstract]

Business Combination Disclosure

BUSINESS ACQUISITIONS

On July 31, 2021, the Company entered into a definitive agreement to acquire 100% of the outstanding shares of Lady of Leisure InvestCo Limited. The acquisition was completed on August 2, 2021 for $417.4 million, which is net of acquired cash of $7.4 million. The Acquired Company owns the Sweaty Betty® brand and activewear business. The acquisition was funded with cash on hand and borrowings under the Company’s Revolving Facility.

Sweaty Betty® is a premium women’s activewear brand that distributes a wide array of innovative on-trend tops, bottoms, swimwear, outerwear, and accessories around the world, mainly through direct-to-consumer channels. The Sweaty Betty® acquisition is part of the Company’s strategic shift over the last several years from a traditional footwear wholesaler to a consumer-obsessed, digital-focused growth company. The acquisition also aligns with the Company’s strategic growth plan to focus on expanding the Company’s digital and international footprint, and building the brand portfolio beyond footwear.

Sweaty Betty® contributed net revenue of $37.8 million and $138.7 million and net loss of $5.0 million and $5.6 million to the Company for the quarter and year-to-date ended October 1, 2022, respectively. The Sweaty Betty® operating results are included in the Other category for segment reporting purposes.

The Company recognized acquisition-related transaction costs of $7.5 million, all of which were recognized in fiscal year 2021 in the selling, general and administrative expenses line item in the Consolidated Statement of Operations. These costs represent investment banking fees, legal and professional fees, transaction fees, and consulting fees associated with the acquisition.

The Company accounted for the acquisition following FASB ASC Topic 805, Business Combinations, and the related assets acquired and liabilities assumed were recorded at fair value on the acquisition date. The aggregate purchase price was allocated to the major categories of assets acquired and liabilities assumed based upon their respective fair values at the acquisition date using primarily Level 2 and Level 3 inputs. The Level 2 and Level 3 valuation inputs include an estimate of future cash flows and discount rates. The Sweaty Betty® trademark, which is estimated to have an indefinite life, has been valued at $346.4 million using the multi-period excess earnings method. The multi-period excess earnings method requires the use of significant estimates and assumptions, including but not limited to, future revenues, growth rates, EBITDA margin, tax rates and a discount rate. The purchase price allocation was finalized during the quarter ended July 2, 2022.

The following table summarizes the purchase price allocation to the assets acquired and liabilities assumed at the acquisition date:


(In millions)	Fair Value
Accounts receivable	$	3.6
Inventories	48.4
Prepaid expenses and other current assets	5.3
Property, plant and equipment	10.0
Lease right-of-use assets	7.0
Goodwill	118.9
Intangibles	355.0
Other assets	0.6
Total assets acquired	548.8
Accounts payable	13.1
Accrued salaries and wages	6.0
Other accrued liabilities	14.3
Lease liabilities	7.0
Deferred income taxes	91.0
Total liabilities assumed	131.4
Net assets acquired	$	417.4

Goodwill is the result of expected synergies and the Company’s ability to grow the Sweaty Betty® brand, as well as the acquired assembled workforce. All of the goodwill its presented within the Other category for segment reporting purposes and within the Sweaty Betty® reporting unit and will not be deductible for income tax purposes.

Intangible assets acquired in the acquisition were valued as follows:


(In millions)	Intangible Asset		Useful life
Trade name and trademark	$	346.4	Indefinite
Customer relationship	7.2		18 years
Backlog	1.0		5 months
Customer list	0.4		3 years
Total intangible assets acquired	$	355.0

The following unaudited pro forma summary presents consolidated information of the Company as if the acquisition of Sweaty Betty® occurred at the beginning of fiscal 2020. The pro forma information is not necessarily indicative of the results that would have actually been obtained if the acquisition had occurred at the beginning of the periods presented or that may be attained in the future. These pro forma amounts have been calculated after including the historical Sweaty Betty® operating results in the

Company’s consolidated results, and reflecting the following adjustments: fair value adjustments for intangible assets and adjustments reflecting historical interest expense. The adjustments have been applied with related tax effects.


	Quarter Ended		Year-to Date Ended
(In millions)	October 2, 2021		October 2, 2021
Net revenue	$	659.7	$	1,916.7
Net earnings attributable to Wolverine World Wide, Inc.	$	7.9	$	91.5

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Oct. 01, 2022
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Wolverine World Wide, Inc. (the “Company”) is a leading designer, marketer and licensor of a broad range of quality casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids’ footwear; industrial work shoes, boots and apparel; and uniform shoes and boots. The Company’s portfolio of owned and licensed brands includes: Bates®, Cat®, Chaco®, Harley-Davidson®, Hush Puppies®, Hytest®, Keds®, Merrell®, Saucony®, Sperry®, Stride Rite®, Sweaty Betty® and Wolverine®. The Company’s products are marketed worldwide through owned operations, through licensing and distribution arrangements with third parties, and joint ventures. The Company also operates retail stores and eCommerce sites to market both its own brands and branded footwear and apparel from other manufacturers, as well as a leathers division that markets Wolverine Performance Leathers™. On June 30, 2022, the Company sold the Champion trademarks for footwear in the United States and Canada to HanesBrand Inc., for $90.0 million in cash. The Company recorded a gain of $90.0 million associated with the transaction. On August 2, 2021, the Company completed the acquisition of Lady Leisure InvestCo Limited (the “Acquired Company”) for $417.4 million, which is net of acquired cash of $7.4 million. The Acquired Company owns the Sweaty Betty® brand and activewear business, a premium women’s activewear brand. See Note 16 for further discussion.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for a complete presentation of the financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included in the accompanying financial statements. For further information, refer to the consolidated financial statements and notes included in the Company’s 2021 Form 10-K. The COVID-19 pandemic, the duration and severity of which is subject to uncertainty, has had and continues to have, an impact on the Company's business. Management's estimates and assumptions used in the preparation of the Company’s consolidated financial statements in accordance with U.S. GAAP take into account both current and expected potential future impacts of the COVID-19 pandemic on the Company’s business based on available information. Actual results may differ materially from management’s estimates.
Fiscal Year	Fiscal Year The Company’s fiscal year is the 52 or 53-week period that ends on the Saturday nearest to December 31. Fiscal years 2022 and 2021 each have 52 weeks. The Company reports its quarterly results of operations on the basis of 13-week quarters for each of the first three fiscal quarters and a 13 or 14-week period for the fiscal fourth quarter. References to particular years or quarters refer to the Company’s fiscal years ended on the Saturday nearest to December 31 or the fiscal quarters within those years.
Seasonality	Seasonality The Company experiences moderate fluctuations in sales volume during the year, as reflected in quarterly revenue. The Company expects current seasonal sales patterns to continue in future years. The Company also experiences some fluctuation in its levels of working capital, typically reflecting an increase in net working capital requirements near the end of the first and third fiscal quarters as inventory builds to support peak shipping periods. Historically, cash provided by operating activities is higher in the second half of the fiscal year due to collection of wholesale channel receivables and direct-to-consumer sales being higher during the holiday season. The Company meets its working capital requirements through internal operating cash flows and, as needed, borrowings under its revolving credit facility, as discussed in more detail under the caption "Liquidity and Capital Resources" in Item 2: "Management's Discussion and Analysis of Financial Condition and Results of Operations". The Company's working capital could also be impacted by other events, including the COVID-19 pandemic or other events.

Earnings Per Share (Tables)

9 Months Ended

Oct. 01, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share.


	Quarter Ended				Year-To-Date Ended
(In millions, except per share data)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Numerator:
Net earnings attributable to Wolverine World Wide, Inc.	$	39.0	$	—	$	173.3	$	83.2
Adjustment for earnings allocated to non-vested restricted common stock	(0.8)		(0.2)		(3.4)		(1.4)


Net earnings (loss) used in calculating basic and diluted earnings per share	$	38.2	$	(0.2)	$	169.9	$	81.8
Denominator:
Weighted average shares outstanding	78.7		82.3		80.0		82.5
Adjustment for non-vested restricted common stock	—		—		—		(0.1)
Shares used in calculating basic earnings per share	78.7		82.3		80.0		82.4
Effect of dilutive stock options	0.2		—		0.2		1.0
Shares used in calculating diluted earnings per share	78.9		82.3		80.2		83.4
Net earnings per share:
Basic	$	0.49	$	0.00	$	2.12	$	0.99
Diluted	$	0.48	$	0.00	$	2.12	$	0.98

Goodwill and Indefinite-Lived Intangibles (Tables)

9 Months Ended

Oct. 01, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill are as follows:


	Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021
Goodwill balance at beginning of the year	$	556.6	$	442.4

Acquisition of a business (see Note 16)	—		117.4
Foreign currency translation effects	(30.1)		(4.3)
Goodwill balance at end of the quarter	$	526.5	$	555.5

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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-Paragraph 2
-Subparagraph (b)
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Revenue From Contracts With Customers (Tables)

9 Months Ended

Oct. 01, 2022

Revenue From Contracts With Customers [Abstract]

Disaggregation of Revenue [Table Text Block]


	Quarter Ended October 1, 2022						Quarter Ended October 2, 2021
(In millions)	Wholesale		Direct-to-Consumer		Total		Wholesale		Direct-to-Consumer		Total
Wolverine Michigan Group	$	322.5	$	67.7	$	390.2	$	263.2	$	61.6	$	324.8
Wolverine Boston Group	191.0		56.7		247.7		202.7		56.1		258.8
Other	18.1		35.4		53.5		17.9		35.2		53.1
Total	$	531.6	$	159.8	$	691.4	$	483.8	$	152.9	$	636.7


	Year-To-Date Ended October 1, 2022						Year-To-Date Ended October 2, 2021
(In millions)	Wholesale		Direct-to-Consumer		Total		Wholesale		Direct-to-Consumer		Total
Wolverine Michigan Group	$	920.3	$	188.9	$	1,109.2	$	779.6	$	197.3	$	976.9
Wolverine Boston Group	556.8		157.1		713.9		548.0		169.7		717.7
Other	75.3		121.4		196.7		47.3		37.4		84.7
Total	$	1,552.4	$	467.4	$	2,019.8	$	1,374.9	$	404.4	$	1,779.3

Contract with Customer, Asset and Liability [Table Text Block]

The Company’s contract balances are as follows:


(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Product returns reserve	$	11.6	$	16.6	$	14.5
Customer markdowns reserve	2.2		2.3		2.9
Other sales incentives reserve	3.7		3.4		4.5
Customer rebates liability	18.2		17.0		16.6
Customer advances liability	5.3		6.8		5.2

Debt (Tables)

9 Months Ended

Oct. 01, 2022

Debt Disclosure [Abstract]

Schedule of Borrowings

Total debt consists of the following obligations:


(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Term Facility, due October 21, 2026	$	192.5	$	200.0	$	—
Term Loan A, due December 6, 2023	—		—		172.5



Senior Notes, 4.000% interest, due August 15, 2029	550.0		550.0		550.0
Borrowings under revolving credit agreements	740.0		225.0		310.0
Unamortized deferred financing costs	(7.3)		(8.2)		(8.1)
Total debt	$	1,475.2	$	966.8	$	1,024.4

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Leases (Tables)

9 Months Ended

Oct. 01, 2022

Leases [Abstract]

Lease, Cost [Table Text Block]

The following is a summary of the Company’s lease cost.


	Quarter Ended				Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Operating lease cost	$	8.6	$	9.0	$	26.4	$	25.1
Variable lease cost	3.8		3.3		11.4		9.4
Short-term lease cost	0.6		0.3		2.2		0.8
Sublease income	(2.0)		(1.5)		(6.2)		(4.8)
Total lease cost	$	11.0	$	11.1	$	33.8	$	30.5

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

The following is a summary of the Company’s supplemental cash flow information related to leases.


	Quarter Ended				Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Cash paid for operating lease liabilities	$	11.1	$	9.8	$	30.3	$	27.9
Operating lease assets obtained in exchange for lease liabilities	9.7		0.4		59.0		3.8

Financial Instruments and Risk Management (Tables)

9 Months Ended

Oct. 01, 2022

Investments, All Other Investments [Abstract]

Schedule of Derivative Instruments [Table Text Block]

The notional amounts of the Company’s derivative instruments are as follows:


(Dollars in millions)	October 1, 2022		January 1, 2022		October 2, 2021
Foreign exchange hedge contracts	$	376.3	$	296.7	$	297.1
Foreign exchange non-hedge contracts	—		—		4.1
Interest rate swap	240.6		311.3		—

Schedule of Derivative Assets at Fair Value [Table Text Block]

The recorded fair values of the Company’s derivative instruments are as follows:




(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Financial assets:
Foreign exchange hedge contracts	$	32.3	$	5.9	$	4.9

Interest rate swap	7.2		—		—

Financial liabilities:
Foreign exchange hedge contracts	$	—	$	(1.0)	$	(1.0)

Interest rate swap	—		(0.1)		—

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

Stock-Based Compensation (Tables)

9 Months Ended

Oct. 01, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The Company granted restricted awards and performance awards as follows:


	Year-To-Date Ended October 1, 2022			Year-To-Date Ended October 2, 2021
(In millions)	Company Shares Issued	Weighted-Average Grant Date Fair Value		Company Shares Issued	Weighted-Average Grant Date Fair Value
Restricted Awards	965,341	$	26.06	613,716	$	34.77
Performance Awards	393,647	$	29.90	625,750	$	35.73

Retirement Plans (Tables)

9 Months Ended

Oct. 01, 2022

Retirement Benefits [Abstract]

Summary of Net Pension and SERP Expense Recognized

The following is a summary of net pension and Supplemental Executive Retirement Plan (“SERP”) expense recognized by the Company.


	Quarter Ended				Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Service cost pertaining to benefits earned during the period	$	1.3	$	1.7	$	4.0	$	5.2
Interest cost on projected benefit obligations	3.3		3.2		9.9		9.6
Expected return on pension assets	(5.1)		(4.8)		(15.4)		(14.6)
Net amortization loss	2.9		3.4		8.5		10.3
Net pension expense	$	2.4	$	3.5	$	7.0	$	10.5

Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Oct. 01, 2022

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income (Loss)

The change in accumulated other comprehensive income (loss) during the quarters ended October 1, 2022 and October 2, 2021 is as follows:


(In millions)	Foreign currency translation		Derivatives			Pension			Total
Balance at July 3, 2021	$	(35.9)	$	(14.9)		$	(68.1)		$	(118.9)
Other comprehensive income (loss) before reclassifications (1)	(16.9)		3.1			—			(13.8)
Amounts reclassified from accumulated other comprehensive income (loss)	—		2.0		(2)	3.4		(3)	5.4
Income tax expense (benefit)	—		(0.5)			(0.6)			(1.1)
Net reclassifications	—		1.5			2.8			4.3
Net current-period other comprehensive income (loss) (1)	(16.9)		4.6			2.8			(9.5)

Balance at October 2, 2021	$	(52.8)	$	(10.3)		$	(65.3)		$	(128.4)

Balance at July 2, 2022	$	(115.9)	$	9.8		$	(28.7)		$	(134.8)
Other comprehensive income (loss) before reclassifications (1)	(40.9)		17.4			—			(23.5)
Amounts reclassified from accumulated other comprehensive income (loss)	—		(4.7)		(2)	2.9		(3)	(1.8)
Income tax expense (benefit)	—		1.1			(0.7)			0.4
Net reclassifications	—		(3.6)			2.2			(1.4)
Net current-period other comprehensive income (loss) (1)	(40.9)		13.8			2.2			(24.9)
Balance at October 1, 2022	$	(156.8)	$	23.6		$	(26.5)		$	(159.7)

(1)Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.

(3)Amounts reclassified are included in the computation of net pension expense.

The change in accumulated other comprehensive income (loss) during the year-to-dates ended October 1, 2022 and October 2, 2021 is as follows:


(In millions)	Foreign currency translation		Derivatives			Pension			Total
Balance at January 2, 2021	$	(36.8)	$	(20.3)		$	(73.5)		$	(130.6)
Other comprehensive income (loss) before reclassifications (1)	(16.0)		6.3			—			(9.7)
Amounts reclassified from accumulated other comprehensive income (loss)	—		5.0		(2)	10.3		(3)	15.3
Income tax expense (benefit)	—		(1.3)			(2.1)			(3.4)
Net reclassifications	—		3.7			8.2			11.9
Net current-period other comprehensive income (loss) (1)	(16.0)		10.0			8.2			2.2
Balance at October 2, 2021	$	(52.8)	$	(10.3)		$	(65.3)		$	(128.4)

Balance at January 1, 2022	$	(56.8)	$	(8.9)		$	(33.2)		$	(98.9)
Other comprehensive income (loss) before reclassifications (1)	(100.0)		39.1			—			(60.9)
Amounts reclassified from accumulated other comprehensive income (loss)	—		(8.7)		(2)	8.5		(3)	(0.2)
Income tax expense (benefit)	—		2.1			(1.8)			0.3
Net reclassifications	—		(6.6)			6.7			0.1
Net current-period other comprehensive income (loss) (1)	(100.0)		32.5			6.7			(60.8)
Balance at October 1, 2022	$	(156.8)	$	23.6		$	(26.5)		$	(159.7)

(1)Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.

(3)Amounts reclassified are included in the computation of net pension expense.

Fair Value Measurements (Tables)

9 Months Ended

Oct. 01, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]


	Fair Value Measurements
	Quoted Prices With Other Observable Inputs (Level 2)
(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Financial assets:
Derivatives	$	39.5	$	5.9	$	4.9
Financial liabilities:
Derivatives	$	—	$	(1.1)	$	(1.0)

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying value and the fair value of the Company’s debt are as follows:


(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Carrying value	$	1,475.2	$	966.8	$	1,024.4
Fair value	1,355.2		960.6		1,042.5

Litigation and Contingencies (Tables)

9 Months Ended

Oct. 01, 2022

Commitments and Contingencies Disclosure [Abstract]

Environmental Exit Costs by Cost [Table Text Block]

The following is a summary of the activity with respect to the environmental remediation reserve established by the Company:


	Year-To-Date Ended
(In millions)	October 1, 2022		October 2, 2021
Remediation liability at beginning of the year	$	85.7	$	101.8

Amounts paid	(21.3)		(21.1)
Remediation liability at the end of the quarter	$	64.4	$	80.7

Minimum Royalty and Advertising Obligations Due Under Terms of Certain Licenses Held by Company

These minimum future obligations for the fiscal periods subsequent to October 1, 2022 are as follows:


(In millions)	2022		2023		2024		2025		2026		Thereafter
Minimum royalties	$	—	$	—	$	—	$	—	$	—	$	—
Minimum advertising	$	—	$	3.9	$	3.9	$	4.2	$	4.3	$	—

Business Segments (Tables)

9 Months Ended

Oct. 01, 2022

Segment Reporting [Abstract]

Revenue and Operating Profit by Segment

The following is a summary of certain key financial measures for each reportable segment.


	Quarter Ended				Year-to-Date Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Revenue:
Wolverine Michigan Group	$	390.2	$	324.8	$	1,109.2	$	976.9
Wolverine Boston Group	247.7		258.8		713.9		717.7
Other	53.5		53.1		196.7		84.7
Total	$	691.4	$	636.7	$	2,019.8	$	1,779.3
Segment operating profit (loss):
Wolverine Michigan Group	$	72.3	$	61.3	$	219.7	$	196.0
Wolverine Boston Group	32.2		44.1		101.3		125.2
Other	(5.2)		2.4		(5.6)		3.9
Corporate	(40.5)		(65.3)		(69.1)		(160.7)
Operating profit	58.8		42.5		246.3		164.4
Interest expense, net	12.5		9.6		$	31.3	$	28.9
Debt extinguishment and other costs	—		34.0		—		34.0
Other expense (income), net	2.7		(0.4)		$	2.2	$	2.5
Earnings (loss) before income taxes	$	43.6	$	(0.7)	$	212.8	$	99.0

Assets and Goodwill by Segment


(In millions)	October 1, 2022		January 1, 2022		October 2, 2021
Total assets:
Wolverine Michigan Group	$	1,071.3	$	651.9	$	692.5
Wolverine Boston Group	1,369.3		1,123.6		1,162.4
Other	536.7		606.2		599.6
Corporate	193.3		204.7		226.9
Total	$	3,170.6	$	2,586.4	$	2,681.4
Goodwill:
Wolverine Michigan Group	$	141.0	$	145.1	$	145.2
Wolverine Boston Group	290.7		296.2		296.4
Other	94.8		115.3		113.9
Total	$	526.5	$	556.6	$	555.5

Business Combinations (Tables)

9 Months Ended

Oct. 01, 2022

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the purchase price allocation to the assets acquired and liabilities assumed at the acquisition date:


(In millions)	Fair Value
Accounts receivable	$	3.6
Inventories	48.4
Prepaid expenses and other current assets	5.3
Property, plant and equipment	10.0
Lease right-of-use assets	7.0
Goodwill	118.9
Intangibles	355.0
Other assets	0.6
Total assets acquired	548.8
Accounts payable	13.1
Accrued salaries and wages	6.0
Other accrued liabilities	14.3
Lease liabilities	7.0
Deferred income taxes	91.0
Total liabilities assumed	131.4
Net assets acquired	$	417.4

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Intangible assets acquired in the acquisition were valued as follows:


(In millions)	Intangible Asset		Useful life
Trade name and trademark	$	346.4	Indefinite
Customer relationship	7.2		18 years
Backlog	1.0		5 months
Customer list	0.4		3 years
Total intangible assets acquired	$	355.0

Business Acquisition, Pro Forma Information [Table Text Block]


	Quarter Ended		Year-to Date Ended
(In millions)	October 2, 2021		October 2, 2021
Net revenue	$	659.7	$	1,916.7
Net earnings attributable to Wolverine World Wide, Inc.	$	7.9	$	91.5

Accounting Policies (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
Accounting Policies (Details) - USD ($) $ in Millions	Aug. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Accounting Policies [Line Items]
Proceeds from sale of trademarks				$ 90.0	$ 0.0
Gain on sale of trademarks		$ 0.0	$ 0.0	$ (90.0)	$ 0.0
Sweaty Betty [Member]
Accounting Policies [Line Items]
Business Combination, Consideration Transferred	$ 417.4
Cash Acquired from Acquisition	$ 7.4

Earnings Per Share (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,422,302	494,447	1,126,353	576,081
Numerator:
Net earnings attributable to Wolverine World Wide, Inc.	$ 39.0	$ 0.0	$ 173.3	$ 83.2
Adjustment for earnings allocated to non-vested restricted common stock	(0.8)	(0.2)	(3.4)	(1.4)
Net earnings (loss) used in calculating basic and diluted earnings per share	$ 38.2	$ (0.2)	$ 169.9	$ 81.8
Denominator:
Weighted average shares outstanding Before Adjustments [Domain]	(78,700,000)	(82,300,000)	(80,000,000.0)	(82,500,000)
Adjustment for non-vested restricted common stock	0	0	0	(100,000)
Shares used in calculating basic earnings per share	78,700,000	82,300,000	80,000,000.0	82,400,000
Effect of dilutive stock options	200,000	0	200,000	1,000,000.0
Shares used in calculating diluted earnings per share	78,900,000	82,300,000	80,200,000	83,400,000
Net Earnings Per Share: [Abstract]
Basic	$ 0.49	$ 0.00	$ 2.12	$ 0.99
Diluted	$ 0.48	$ 0.00	$ 2.12	$ 0.98

Goodwill and Indefinite-Lived Intangibles (Changes in the Carrying Amount of Goodwill and Indefinite-Lived Intangibles) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 556.6	$ 442.4
Goodwill, Acquired During Period	0.0	117.4
Foreign currency translation effects	(30.1)	(4.3)
Goodwill, Ending balance	$ 526.5	$ 555.5

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Indefinite-Lived Intangibles Additional Information (Details) - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangibles	$ 658.6	$ 718.1	$ 718.3
Sperry [Member]
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangibles	296.0
Sweaty Betty [Member]
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangibles	$ 276.3

Revenue From Contracts With Customers Additional Information (Details) $ in Millions	Oct. 01, 2022 USD ($)
Revenue Recognition [Abstract]
Remaining Fixed Transaction Price	$ 12.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year	2026

Revenue From Contracts With Customers Disaggrated Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Revenue	$ 691.4	$ 636.7	$ 2,019.8	$ 1,779.3
Wolverine Michigan Group [Member]
Revenue	390.2	324.8	1,109.2	976.9
Wolverine Boston Group [Member]
Revenue	247.7	258.8	713.9	717.7
Other [Member]
Revenue	53.5	53.1	196.7	84.7
Wholesale Channel [Member]
Revenue	531.6	483.8	1,552.4	1,374.9
Wholesale Channel [Member] \| Wolverine Michigan Group [Member]
Revenue	322.5	263.2	920.3	779.6
Wholesale Channel [Member] \| Wolverine Boston Group [Member]
Revenue	191.0	202.7	556.8	548.0
Wholesale Channel [Member] \| Other [Member]
Revenue	18.1	17.9	75.3	47.3
Consumer-Direct Channel [Member]
Revenue	159.8	152.9	467.4	404.4
Consumer-Direct Channel [Member] \| Wolverine Michigan Group [Member]
Revenue	67.7	61.6	188.9	197.3
Consumer-Direct Channel [Member] \| Wolverine Boston Group [Member]
Revenue	56.7	56.1	157.1	169.7
Consumer-Direct Channel [Member] \| Other [Member]
Revenue	$ 35.4	$ 35.2	$ 121.4	$ 37.4

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue From Contracts With Customers Contract Balances (Details) - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Revenue from Contracts with Customer [Abstract]
Product Returns Reserve	$ 11.6	$ 16.6	$ 14.5
Customer Markdowns Reserve	2.2	2.3	2.9
Sales Incentives Reserve	3.7	3.4	4.5
Customer Rebates Liability	18.2	17.0	16.6
Customer Advances, Current	$ 5.3	$ 6.8	$ 5.2

Debt (Schedule of Borrowings) (Details) - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Debt Instrument [Line Items]
Borrowings under revolving credit agreements	$ 740.0	$ 225.0	$ 310.0
Debt Issuance Costs, Noncurrent, Net	(7.3)	(8.2)	(8.1)
Total debt	1,475.2	966.8	1,024.4
Term Loan A [Member] \| October Twenty One Two Thousand Twenty Six
Debt Instrument [Line Items]
Long-term debt	192.5	200.0	0.0
Term Loan A [Member] \| December Sixth Two Thousand Twenty Three [Domain]
Debt Instrument [Line Items]
Long-term debt	0.0	0.0	172.5
Senior Notes [Member] \| August Fifteenth Two Thousand Twenty Nine [Domain]
Debt Instrument [Line Items]
Long-term debt	$ 550.0	$ 550.0	$ 550.0

Debt (Additional Information) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Oct. 21, 2021	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Jan. 01, 2022
Debt Instrument [Line Items]
Current maturities of long-term debt		$ 10.0	$ 10.0	$ 10.0	$ 10.0	$ 10.0
Amortization of deferred financing costs		0.5	0.6	1.5	1.9
Maximum [Member]
Debt Instrument [Line Items]
Aggregate principal amount debt instrument		2,000.0		$ 2,000.0
Alternative Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				1.00%
Alternative Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				0.125%
Euro Currency Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				2.00%
Euro Currency Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				1.125%
London Interbank Offered Rate (LIBOR) \| Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				0.00%
Debt Instrument, Interest Rate, Increase (Decrease)	0.75%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Aggregate principal amount debt instrument		1,000.0		$ 1,000.0
Debt Instrument, Increase (Decrease), Other, Net	$ 200.0
Outstanding letters of credit		5.6	5.9	5.6	5.9	5.8
Swingline Subfacility [Member]
Debt Instrument [Line Items]
Revolving credit facility amount		100.0		100.0
Letter of Credit Subfacility [Member]
Debt Instrument [Line Items]
Revolving credit facility amount		50.0		50.0
Foreign Line of Credit [Member]
Debt Instrument [Line Items]
Revolving credit facility amount		2.0		2.0
December Sixth Two Thousand Twenty Three [Domain] \| Term Loan A [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount		0.0	172.5	0.0	172.5	0.0
September First Two Thousand Twenty Six [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount debt instrument			250.0		250.0
May Fifteenth Two Thousand Twenty Five [Domain] \| Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount debt instrument			300.0		300.0
August Fifteenth Two Thousand Twenty Nine [Domain] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount		$ 550.0	550.0	$ 550.0	550.0	550.0
Interest rate		4.00%		4.00%
October Twenty One Two Thousand Twenty Six \| Term Loan A [Member]
Debt Instrument [Line Items]
Aggregate principal amount debt instrument		$ 200.0		$ 200.0
Weighted average interest rate		3.81%		3.81%
Debt, Long-term and Short-term, Combined Amount		$ 192.5	$ 0.0	$ 192.5	$ 0.0	$ 200.0

Leases Operating Lease Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Leases [Abstract]
Operating Lease, Expense	$ 8.6	$ 9.0	$ 26.4	$ 25.1
Variable Lease, Cost	3.8	3.3	11.4	9.4
Short-term Lease, Cost	0.6	0.3	2.2	0.8
Sublease Income	(2.0)	(1.5)	(6.2)	(4.8)
Lease, Cost	$ 11.0	$ 11.1	$ 33.8	$ 30.5

Leases, Supplemental Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Leases [Abstract]
Operating Lease, Payments	$ 11.1	$ 9.8	$ 30.3	$ 27.9
Lease assets obtained in exchange for lease liabilities	$ 9.7	$ 0.4	$ 59.0	$ 3.8

Financial Instruments and Risk Management (Derivative Notional Amounts) (Details) - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Foreign exchange contracts [Member] \| Hedge [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Notional Amount	$ 376.3	$ 296.7	$ 297.1
Foreign exchange contracts [Member] \| Non-hedge [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Notional Amount	0.0	0.0	4.1
Interest rate swaps [Member] \| Hedge [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Notional Amount	$ 240.6	$ 311.3	$ 0.0

Financial Instruments and Risk Management Derivative Recorded Values (Details) - Hedge [Member] - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Foreign exchange contracts, asset	$ 32.3	$ 5.9	$ 4.9
Foreign exchange contracts liabilities	0.0	(1.0)	(1.0)
Interest rate swaps [Member]
Derivatives, Fair Value [Line Items]
Interest rate swap, assets	7.2	0.0	0.0
Interest rate swap, liabilities	$ 0.0	$ (0.1)	$ 0.0

Financial Instruments and Risk Management (Additional Information) (Details)	9 Months Ended		12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Jan. 01, 2022
Foreign exchange contracts [Member]
Financial Instruments And Derivatives [Line Items]
Maximum remaining maturity of foreign currency derivatives	524 days	538 days	538 days
Interest rate swaps [Member]
Financial Instruments And Derivatives [Line Items]
Financial instrument expiration date	May 30, 2025
Cross currency swap [Member]
Financial Instruments And Derivatives [Line Items]
Financial instrument expiration date	Sep. 01, 2021

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - $ / shares	9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Restricted Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued	965,341	613,716
Awards Issued, Weighted Average Grant Date Fair Value	$ 26.06	$ 34.77
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Issued	393,647	625,750
Awards Issued, Weighted Average Grant Date Fair Value	$ 29.90	$ 35.73

Stock-Based Compensation Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 7.1	$ 8.4	$ 26.4	$ 30.0
Related income tax benefits on share based compensation	$ 1.4	$ 1.7	$ 5.1	$ 5.9

Retirement Plans (Summary of Net Pension and Supplemental Executive Retirement Plan Expense Recognized) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Retirement Benefits [Abstract]
Service cost pertaining to benefits earned during the period	$ 1.3	$ 1.7	$ 4.0	$ 5.2
Interest cost on projected benefit obligations	3.3	3.2	9.9	9.6
Expected return on pension assets	(5.1)	(4.8)	(15.4)	(14.6)
Net amortization loss	2.9	3.4	8.5	10.3
Net pension expense	$ 2.4	$ 3.5	$ 7.0	$ 10.5

Income Taxes (Additional Information) (Details)	3 Months Ended		9 Months Ended
Income Taxes (Additional Information) (Details)	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Percent	10.90%	(11.60%)	19.30%	17.10%

Accumulated Other Comprehensive Income (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance AOCI	$ (134.8)	$ (118.9)	$ (98.9)	$ (130.6)
Accumulated other comprehensive loss	(159.7)	(128.4)	(159.7)	(128.4)
Other comprehensive income (loss) before reclassifications	(23.5)	(13.8)	(60.9)	(9.7)
Amounts reclassified from AOCI	(1.8)	5.4	(0.2)	15.3
Reclassification from Accumulated Other Comprehensive Income, Current Period, Tax	0.4	(1.1)	0.3	(3.4)
Net reclassifications	(1.4)	4.3	0.1	11.9
Other Comprehensive Income (Loss), Net of Tax	(25.3)	(9.4)	(61.6)	2.2
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	24.9	9.5	60.8	(2.2)
Ending balance AOCI	(159.7)	(128.4)	(159.7)	(128.4)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance AOCI	(115.9)	(35.9)	(56.8)	(36.8)
Accumulated other comprehensive loss	(156.8)	(52.8)	(156.8)	(52.8)
Other comprehensive income (loss) before reclassifications	(40.9)	(16.9)	(100.0)	(16.0)
Amounts reclassified from AOCI	0.0	0.0	0.0	0.0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Tax	0.0	0.0	0.0	0.0
Net reclassifications	0.0	0.0	0.0	0.0
Other Comprehensive Income (Loss), Net of Tax	40.9	16.9	100.0	16.0
Ending balance AOCI	(156.8)	(52.8)	(156.8)	(52.8)
Derivatives [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance AOCI	9.8	(14.9)	(8.9)	(20.3)
Accumulated other comprehensive loss	23.6	(10.3)	23.6	(10.3)
Other comprehensive income (loss) before reclassifications	17.4	3.1	39.1	6.3
Amounts reclassified from AOCI	(4.7)	2.0	(8.7)	5.0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Tax	1.1	(0.5)	2.1	(1.3)
Net reclassifications	(3.6)	1.5	(6.6)	3.7
Other Comprehensive Income (Loss), Net of Tax	(13.8)	(4.6)	(32.5)	(10.0)
Ending balance AOCI	23.6	(10.3)	23.6	(10.3)
Pension adjustments [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance AOCI	(28.7)	(68.1)	(33.2)	(73.5)
Accumulated other comprehensive loss	(26.5)	(65.3)	(26.5)	(65.3)
Other comprehensive income (loss) before reclassifications	0.0	0.0	0.0	0.0
Amounts reclassified from AOCI	2.9	3.4	8.5	10.3
Reclassification from Accumulated Other Comprehensive Income, Current Period, Tax	(0.7)	(0.6)	(1.8)	(2.1)
Net reclassifications	2.2	2.8	6.7	8.2
Other Comprehensive Income (Loss), Net of Tax	(2.2)	(2.8)	(6.7)	(8.2)
Ending balance AOCI	$ (26.5)	$ (65.3)	$ (26.5)	$ (65.3)

Fair Value Measurements Recurring Fair Value Measurements (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$ 39.5	$ 5.9	$ 4.9
Derivative Liability	$ 0.0	$ (1.1)	$ (1.0)

Fair Value Measurements Fair Value Disclosures (Details) - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021
Fair Value Disclosures [Abstract]
Debt, Carrying Value	$ 1,475.2	$ 966.8	$ 1,024.4
Debt, Fair Value	$ 1,355.2	$ 960.6	$ 1,042.5

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Litigation and Contingencies Environmental Remediation (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Environmental Exit Cost [Line Items]
Site Contingency, Recovery from Third Party of Environmental Remediation Cost		$ 55.0
Loss Contingency Accrual, Period Increase (Decrease)	$ 37.8
Loss Contingency Accrual, Payments	50.1
Loss Contingency Accrual	37.8
Accrual for Environmental Loss Contingencies [Roll Forward]
Remediation liability at beginning of the year	85.7	101.8
Amounts paid	(21.3)	(21.1)
Remediation liability at the end of the quarter	64.4	$ 80.7
Environmental remediation accrual, current	30.9
Environmental remediation accrual, noncurrent	$ 33.5
Site Contingency, Time Frame of Disbursements	25

Litigation and Contingencies Minimum Royalty and Advertising Obligations Due Under Terms of Certain Licenses Held by Company (Details) $ in Millions	Oct. 01, 2022 USD ($)
Royalties [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
2022	$ 0.0
2023	0.0
2024	0.0
2025	0.0
2026	0.0
Thereafter	0.0
Advertising [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
2022	0.0
2023	3.9
2024	3.9
2025	4.2
2026	4.3
Thereafter	$ 0.0

Litigation and Contingencies (Additional Information) (Details) - Licensing agreements [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Long-term Purchase Commitment [Line Items]
Royalty expense, licensing agreements	$ 0.7	$ 0.6	$ 1.9	$ 1.7
Advertising expense, licensing agreements	$ 1.9	$ 1.4	$ 4.8	$ 4.1

Business Segments (Revenue and Operating Profit by Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Segment Reporting Information [Line Items]
Revenue	$ 691.4	$ 636.7	$ 2,019.8	$ 1,779.3
Operating profit (loss)	58.8	42.5	246.3	164.4
Interest expense, net	12.5	9.6	31.3	28.9
Debt extinguishment and other costs	0.0	34.0	0.0	34.0
Other Nonoperating Income (Expense)	2.7	(0.4)	2.2	2.5
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	43.6	(0.7)	212.8	99.0
Wolverine Michigan Group [Member]
Segment Reporting Information [Line Items]
Revenue	390.2	324.8	1,109.2	976.9
Operating profit (loss)	72.3	61.3	219.7	196.0
Wolverine Boston Group [Member]
Segment Reporting Information [Line Items]
Revenue	247.7	258.8	713.9	717.7
Operating profit (loss)	32.2	44.1	101.3	125.2
Other [Member]
Segment Reporting Information [Line Items]
Revenue	53.5	53.1	196.7	84.7
Operating profit (loss)	(5.2)	2.4	(5.6)	3.9
Corporate [Member]
Segment Reporting Information [Line Items]
Operating profit (loss)	$ (40.5)	$ (65.3)	$ (69.1)	$ (160.7)

Business Segments (Assets and Goodwill by Segment) (Details) - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021	Jan. 02, 2021
Segment Reporting Information [Line Items]
Total assets	$ 3,170.6	$ 2,586.4	$ 2,681.4
Goodwill	526.5	556.6	555.5	$ 442.4
Wolverine Michigan Group [Member]
Segment Reporting Information [Line Items]
Total assets	1,071.3	651.9	692.5
Goodwill	141.0	145.1	145.2
Wolverine Boston Group [Member]
Segment Reporting Information [Line Items]
Total assets	1,369.3	1,123.6	1,162.4
Goodwill	290.7	296.2	296.4
Other [Member]
Segment Reporting Information [Line Items]
Total assets	536.7	606.2	599.6
Goodwill	94.8	115.3	113.9
Corporate [Member]
Segment Reporting Information [Line Items]
Total assets	$ 193.3	$ 204.7	$ 226.9

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

+ References + Details

Business Combinations - Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Oct. 01, 2022	Jan. 01, 2022	Oct. 02, 2021	Jan. 02, 2021
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		$ 3.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		48.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets		5.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		10.0
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRight-of-Use-Asset		7.0
Goodwill	$ 526.5	556.6	$ 555.5	$ 442.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		355.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		0.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		548.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		13.1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		6.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		14.3
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation		7.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		91.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		131.4
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		417.4
Sweaty Betty [Member]
Business Acquisition [Line Items]
Goodwill		$ 118.9

Business Combinations - Schedule of Intangible Assets Acquired, Excluding Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2022	Jan. 01, 2022
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 355.0
Sweaty Betty [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets		346.4
Customer Relationships [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		7.2
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	18 years
Order or Production Backlog [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		1.0
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 months
Customer Lists [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 0.4
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years

Business Combinations - Schedule of Pro Forma Information (Details) - Sweaty Betty [Member] - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 02, 2021	Oct. 02, 2021
Schedule of Pro Forma Sales and Income [Line Items]
Business Acquisition, Pro Forma Revenue	$ 659.7	$ 1,916.7
Business Acquisition, Pro Forma Net Income (Loss)	$ 7.9	$ 91.5

Business Combinations (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended	12 Months Ended
Business Combinations (Details) - USD ($) $ in Millions	Aug. 02, 2021	Oct. 01, 2022	Oct. 01, 2022	Jan. 01, 2022
Business Acquisition [Line Items]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 37.8	$ 138.7
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		$ (5.0)	$ (5.6)
Business Combination, Acquisition Related Costs				$ 7.5
Sweaty Betty [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Business Combination, Consideration Transferred	$ 417.4
Cash Acquired from Acquisition	$ 7.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets				$ 346.4