Kontoor Brands, Inc.

Listed Company

KTBCIK 0001760965NYSELarge AcceleratedMen'S & Boys' Furnishgs, Work Clothg, & Allied GarmentsNorth CarolinaFY ends Dec 30

Period

FY 2025

Revenue

$3.15B

Net Income

$227.45M

Total Assets

$2.58B

Equity

$564.87M

Shares Out

55.25M

Op. Cash Flow

$455.81M

Business

Kontoor Brands, Inc. is a global lifestyle apparel company that designs, manufactures, procures, sells and licenses apparel, footwear and accessories led by the Wrangler® and Lee® brands. Its products include denim, casual and work apparel, footwear, accessories and various sub-brands and collaborations, along with licensed product categories. The company reports through two primary segments—Wrangler® and Lee®—and an Other category that includes additional owned and licensed brands. Products are sold in the U.S. through mass merchants, specialty and department stores, company-operated and outlet stores, and online, and internationally across EMEA, APAC and Non-U.S. Americas via wholesale, concession, partnership stores and digital marketplaces.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	3,152	2,608	2,607	2,631	2,476
Cost of goods sold	1,729	1,446	1,520	1,497	1,368
Selling, general and administrative expenses	1,087	819	769	778	825
Total costs and operating expenses	2,816	2,265	2,288	2,275	2,193
Operating income	337	342	319	357	283
Interest expense	−62	−41	−40	−35	—
Interest income	7	11	4	1	1
Other income (expense), net	11	−11	−11	−4	−959,000
Income before income taxes	293	301	272	—	—
Income taxes	−71	−56	−41	74	49
Income from equity method investment	5	0	0	—	—
Net income	227	246	231	245	195
Basic (in USD per share)	4.1	4.42	4.13	4.4	3.4
Diluted (in USD per share)	4.05	4.36	4.06	4.31	3.31
Basic (in shares)	56	56	56	56	57
Diluted (in shares)	56	56	57	57	59

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	108	334	215	59	185
Accounts receivable, net	276	244	218	226	290
Inventories	567	390	500	597	363
Prepaid expenses and other current assets	130	96	111	100	73
Total current assets	1,081	1,064	1,044	982	911
Property, plant and equipment, net	131	103	112	104	105
Operating lease assets	142	47	55	51	55
Intangible assets, net	450	11	12	13	15
Goodwill	531	209	210	210	212
Deferred income tax assets	75	76	75	67	75
Other assets	173	140	137	154	161
TOTAL ASSETS	2,583	1,651	1,645	1,582	1,533
Current portion of long-term debt	9	0	20	10	0
Accounts payable	245	180	180	206	214
Accrued and other current liabilities	306	193	171	197	217
Operating lease liabilities, current	34	21	21	20	24
Total current liabilities	594	394	393	440	456
Operating lease liabilities, noncurrent	117	30	37	32	33
Deferred income tax liabilities	93	6	6	7	6
Other liabilities	80	81	75	70	99
Long-term debt	1,135	740	764	783	791
Total liabilities	2,018	1,250	1,274	1,332	1,385
Commitments and contingencies	—	—	—	—	—
Preferred Stock, no par value; shares authorized, 90,000,000; no shares outstanding at December 2025 and 2024	0	0	0	0	0
Common Stock, no par value; shares authorized, 600,000,000; outstanding shares of 55,239,594 at December 2025 and 55,310,671 at December 2024	0	0	0	0	0
Additional paid-in capital	358	317	273	244	218
Retained earnings	274	200	167	87	23
Accumulated other comprehensive loss	−68	−117	−68	−80	−93
Total equity	565	400	372	251	148
TOTAL LIABILITIES AND EQUITY	2,583	1,651	1,645	1,582	1,533

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	48	43	38	37	37
Stock-based compensation	39	27	17	22	39
Provision for doubtful accounts	1	670,000	−807,000	−44,000	330,000
Deferred income taxes	30	−7	−4	127,000	4
Other	−21	−255,000	5	−592,000	9
Accounts receivable	56	−35	15	57	−61
Inventories	5	103	101	−236	−25
Accounts payable	12	2	−20	−4	48
Income taxes	−22	9	−29	7	16
Accrued and other current liabilities	76	5	−2	−31	19
Other assets and liabilities	6	−24	5	−13	4
Cash provided by operating activities	456	368	357	84	284
Property, plant and equipment expenditures	−21	−19	−27	−18	−11
Capitalized computer software	−4	−3	−10	−10	−26
Business acquisition, net of cash received	−901	0	0	—	—
Proceeds from the settlement of foreign exchange contracts to hedge business acquisition	24	0	0	—	—
Proceeds from sales of assets	6	4	510,000	64,000	669,000
Other	−2	−4	−2	−2	−3
Cash used by investing activities	−899	−22	−39	−30	−39
Borrowings under revolving credit facility	50	0	288	163	0
Repayments under revolving credit facility	−50	0	−288	−163	0
Proceeds from issuance of long-term debt	1,000	0	0	—	0
Payment of debt issuance costs	−7	0	0	−298,000	−8
Repayments of term loan	−595	−45	−10	0	−523
Repurchases of Common Stock	−25	−86	−30	−62	−75
Dividends paid	−116	−112	−109	−104	−95
Shares withheld for taxes, net of proceeds from issuance of Common Stock	−10	2	284,000	−12	−2
Other	0	0	−7	7	−562,000
Cash provided (used) by financing activities	247	−240	−156	−171	−304
Effect of foreign currency rate changes on cash and cash equivalents	−29	13	−6	−9	−3
Net change in cash and cash equivalents	−226	119	156	−126	−63
Interest paid	59	41	36	32	27
Income taxes paid	70	53	74	68	33
Change in accrual for property, plant and equipment	−190,000	−368,000	−4	3	−336,000
Change in accrual for capitalized computer software	793,000	196,000	−981,000	3	−3

Filings

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