0001060822-20-000004 | 10-K | XBRL Viewer

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 28, 2019

Long-term debt consisted of the following:



(dollars in thousands)	December 28, 2019			December 29, 2018
Senior notes	$	500,000		$	400,000
Less: unamortized issuance-related costs for senior notes	(5,328		)	(2,736		)
Senior notes, net	$	494,672		$	397,264
Secured revolving credit facility	100,000			196,000
Total long-term debt, net	$	594,672		$	593,264

Schedule of redemption price applicable where redemption occurs

The redemption price is applicable when the redemption occurs during the twelve-month period beginning on March 15 of each of the years indicated is as follows:



Year	Percentage
2022	102.81	%
2023	101.41	%
2024 and thereafter	100.00	%

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 28, 2019	Dec. 29, 2018
Current assets:
Cash and cash equivalents	$ 214,311,000	$ 170,077,000
Accounts receivable, net	251,005,000	258,259,000
Finished goods inventories	593,987,000	574,226,000
Prepaid expenses and other current assets	48,454,000	40,396,000
Total current assets	1,107,757,000	1,042,958,000
Property, plant, and equipment, net	320,168,000	350,437,000
Operating lease assets	687,024,000	0
Tradenames, net	334,642,000	365,692,000
Goodwill	229,026,000	227,101,000
Customer relationships, net	41,126,000	44,511,000
Other assets	33,374,000	28,159,000
Total assets	2,753,117,000	2,058,858,000
Current liabilities:
Accounts payable	183,641,000	199,076,000
Current operating lease liabilities	160,228,000	0
Other current liabilities	131,631,000	128,345,000
Total current liabilities	475,500,000	327,421,000
Long-term debt, net	594,672,000	593,264,000
Deferred income taxes	74,370,000	87,347,000
Long-term operating lease liabilities	664,372,000	0
Other long-term liabilities	64,073,000	181,393,000
Total liabilities	1,872,987,000	1,189,425,000
Stockholders' equity:
Preferred stock; par value $.01 per share; 100,000 shares authorized; none issued or outstanding at December 28, 2019 and December 29, 2018	0	0
Common stock, voting; par value $.01 per share; 150,000,000 shares authorized; 43,963,103 and 45,629,014 shares issued and outstanding at December 28, 2019 and December 29, 2018, respectively	440,000	456,000
Accumulated other comprehensive loss	(35,634,000)	(40,839,000)
Retained earnings	915,324,000	909,816,000
Total stockholders' equity	880,130,000	869,433,000
Total liabilities and stockholders' equity	$ 2,753,117,000	$ 2,058,858,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 125,147	$ 60,252	$ 43,937	$ 34,466	$ 130,561	$ 71,770	$ 37,268	$ 42,469	$ 263,802	$ 282,068	$ 302,848
Other comprehensive income:
Unrealized gain (loss) on OshKosh defined benefit plan, net of (tax) or tax benefit of ($230), $80, and $140 for the fiscal years 2019, 2018, and 2017, respectively									746	(281)	(430)
Unrealized (loss) gain on Carter's post-retirement benefit obligation, net of (tax) or tax benefit of $150, ($70), and $70 for fiscal years 2019, 2018, and 2017, respectively									(483)	214	(262)
Foreign currency translation adjustments									6,442	(11,679)	6,339
Total other comprehensive income									6,705	(11,746)	5,647
Comprehensive income									$ 270,507	$ 270,322	$ 308,495

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Recent Accounting Pronouncements) (Details) - USD ($)	Dec. 28, 2019	Mar. 30, 2019	Dec. 29, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 915,324,000		$ 909,816,000
Operating Lease, Liability	824,600,000	$ 844
Operating lease assets	$ 687,024,000	$ 705	$ 0

STOCK-BASED COMPENSATION (Stock-Based Compensation by Award Type) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	131,924	151,321	168,471
Stock-based compensation	$ 16,529	$ 14,673	$ 17,549
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 16,529	$ 14,673	$ 16,378
Vested (in dollars per share)	$ 93.03	$ 84.56	$ 74.00
Shares outstanding (in shares)	458,500	374,008
Weighted-average grant-date fair value outstanding (in dollars per share)	$ 94.58	$ 97.57
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 4,070	$ 4,788	$ 4,244
Time-based restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	102,492	100,625	114,703
Vested (in dollars per share)	$ 93.70	$ 85.64	$ 76.58
Time-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 9,432	$ 7,938	$ 7,532
Performance-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	29,432
Stock-based compensation	$ 1,552	744	4,602
Vested (in dollars per share)	$ 90.66
Shares outstanding (in shares)	154,996
Weighted-average grant-date fair value outstanding (in dollars per share)	$ 95.28
Stock awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,475	$ 1,203	$ 1,171

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
Balance at Dec. 31, 2016	$ 788,363	$ 489	$ 0	$ (34,740)	$ 822,614
Balance (in shares) at Dec. 31, 2016		48,948,670
Exercise of stock options	8,438	$ 2	8,436
Exercise of stock options (in shares)		240,850
Withholdings from vesting of restricted stock	(5,753)	$ (1)	(5,752)
Withholdings from vesting of restricted stock (in shares)		(67,546)
Restricted stock activity	0	$ 2	(2)
Restricted stock activity (in shares)		145,913
Stock-based compensation expense	16,378		16,378
Issuance of common stock	1,171	$ 1	1,170
Issuance of common stock (in shares)		13,860
Repurchases of common stock	(188,762)	$ (21)	(20,230)		(168,511)
Repurchase of common stock (in shares)		(2,103,401)
Cash dividends declared and paid	(70,914)				(70,914)
Comprehensive income	308,495	$ 0	0	5,647
Net income	302,848				302,848
Balance (in shares) at Dec. 30, 2017		47,178,346
Balance at Dec. 30, 2017	857,416	$ 472	0	(29,093)	886,037
Exercise of stock options	10,597	$ 3	10,594
Exercise of stock options (in shares)		261,113
Withholdings from vesting of restricted stock	(6,830)	$ (1)	(6,829)
Withholdings from vesting of restricted stock (in shares)		(57,554)
Restricted stock activity	0	$ 1	(1)
Restricted stock activity (in shares)		126,638
Stock-based compensation expense	14,673		14,673
Repurchases of common stock	(193,028)	$ (19)	(18,437)		(174,572)
Repurchase of common stock (in shares)		(1,879,529)
Cash dividends declared and paid	(83,717)				(83,717)
Comprehensive income	270,322	$ 0	0	(11,746)
Net income	$ 282,068				282,068
Balance (in shares) at Dec. 29, 2018	45,629,014	45,629,014
Balance at Dec. 29, 2018	$ 869,433	$ 456	0	(40,839)	909,816
Exercise of stock options	$ 14,490	$ 3	14,487
Exercise of stock options (in shares)	274,960	274,960
Withholdings from vesting of restricted stock	$ (4,328)	$ 0	(4,328)
Withholdings from vesting of restricted stock (in shares)		(46,429)
Restricted stock activity	0	$ 2	(2)
Restricted stock activity (in shares)		213,030
Stock-based compensation expense	16,529
Repurchases of common stock	(196,910)	$ (21)	(26,686)		(170,203)
Repurchase of common stock (in shares)		(2,107,472)
Cash dividends declared and paid	(89,591)				(89,591)
Comprehensive income	270,507		0	6,705
Net income	263,802				263,802
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 0			(1,500)	1,500
Balance (in shares) at Dec. 28, 2019	43,963,103	43,963,103
Balance at Dec. 28, 2019	$ 880,130	$ 440	$ 0	$ (35,634)	$ 915,324

LONG-TERM DEBT (Senior Notes) (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 14, 2019	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Debt Instrument [Line Items]
Debt Issuance Costs, Net	$ (2,600)
Long-term debt, net		$ 594,672	$ 593,264
Gain (Loss) on Extinguishment of Debt	7,800	(7,823)	0	$ 0
Payment for Debt Extinguishment or Debt Prepayment Cost	$ 5,200	5,252	0	0
Proceeds from senior notes due 2027		$ 500,000	0	$ 0
Guarantor subsidiaries percentage of ownership		100.00%
Changes of Control [Member]
Debt Instrument [Line Items]
Redemption price, percentage		101.00%
Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Redemption price, percentage		102.81%
Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Redemption price, percentage		101.41%
Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Redemption price, percentage		100.00%
Senior notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 500,000	400,000
Debt Issuance Costs, Net		(5,328)	(2,736)
Debt Issuance Costs, Gross		5,800
Long-term Debt		494,672	397,264
Long-term Debt, Fair Value		538,400
Proceeds from senior notes due 2027		494,800
Redemption price, percentage	1.31%
Secured revolving credit facility
Debt Instrument [Line Items]
Long-term Debt		$ 100,000	$ 196,000
TWCC [Member] \| Senior notes
Debt Instrument [Line Items]
Ownership percentage of notes, to declare notes due and payable		25.00%
Five Point Two Five Percent Senior Notes due Twenty Twenty One [Domain] \| Senior notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000
Stated interest rate	5.25%
Five Point Six Two Five Percent Senior Notes due Twenty Twenty Seven [Domain] \| Senior notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 500,000
Stated interest rate	5.625%

EMPLOYEE BENEFIT PLANS (Defined Benefit Plans Narratives) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on assets	6.00%
Contribution	$ 300	$ 300	$ 300
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used in Calculation, Description	0.25%
Defined Benefit Plan, Benefit Obligation	$ 68,331	62,297	$ 66,747
Defined Benefit Plan, Funded (Unfunded) Status of Plan	6,370	$ 6,733
Effect of 0.25% increase on projected benefit obligation	$ 2,200
Expected long-term rate of return on assets	5.50%	6.25%	6.00%
Contribution	$ 0	$ 6,000
Benefit payments	3,030
Expected contribution and benefit payment, five years subsequent to 2017	18,430
2020	$ 2,700
Pension Plans \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets in equity securities (as a percent)	45.00%
Pension Plans \| Bond Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets in equity securities (as a percent)	50.00%
Pension Plans \| Real Estate Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets in equity securities (as a percent)	5.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Revenue Recognition) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Accounting Policies [Abstract]
Cooperative advertising arrangements, fair value	$ 3.1	$ 3.0	$ 3.1

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 28, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table summarizes the Company's goodwill and other intangible assets at the end of the fiscal year:



		December 28, 2019						December 29, 2018
(dollars in thousands)	Weighted-average useful life	Gross amount		Accumulated amortization		Net amount		Gross amount		Accumulated amortization		Net amount
Carter's goodwill⁽¹⁾	Indefinite	$	136,570	$	—	$	136,570	$	136,570	$	—	$	136,570
Canada goodwill⁽²⁾	Indefinite	40,524		—		40,524		38,869		—		38,869
Skip Hop goodwill⁽³⁾	Indefinite	45,978		—		45,978		45,960		—		45,960
Carter's Mexico goodwill⁽⁴⁾	Indefinite	5,954		—		5,954		5,702		—		5,702
Total goodwill		$	229,026	$	—	$	229,026	$	227,101	$	—	$	227,101

Carter's tradename	Indefinite	$	220,233	$	—	$	220,233	$	220,233	$	—	$	220,233
OshKosh tradename	Indefinite	85,500		—		85,500		85,500		—		85,500
Skip Hop tradename⁽⁵⁾	Indefinite	26,000		—		26,000		56,800		—		56,800
Finite-life tradenames	5 - 20 years	3,911		1,002		2,909		3,911		752		3,159
Total tradenames, net		$	335,644	$	1,002	$	334,642	$	366,444	$	752	$	365,692

Skip Hop customer relationships	15 years	$	47,300	$	8,657	$	38,643	$	47,300	$	5,480	$	41,820
Carter's Mexico customer relationships	10 years	3,258		775		2,483		3,146		455		2,691
Total customer relationships, net		$	50,558	$	9,432	$	41,126	$	50,446	$	5,935	$	44,511


(1)	$45.9 million is assigned to the U.S. Wholesale segment, $82.0 million is assigned to the U.S. Retail segment, and $8.6 million is assigned to the International segment.


(2)	Goodwill for Canada is assigned to the International segment.


(3)	$28.6 million is assigned to the U.S. Wholesale segment, $15.5 million is assigned to the International segment, and $1.9 million is assigned to the U.S. Retail segment.


(4)	Goodwill for Carter's Mexico is assigned to the International segment.


(5)	Fiscal 2019 includes a tradename impairment charge of $30.8 million.

The Company's Skip Hop business has experienced lower than expected actual and projected sales and profitability due to lower domestic demand, including the loss of a significant customer (Toys "R" Us), lower international demand and higher product costs primarily driven by tariffs imposed on products sourced from China. As a result, the Company conducted an interim impairment assessment in the third quarter of fiscal 2019 on the value of the Company's indefinite-lived Skip Hop tradename asset that was recorded in connection with the acquisition of Skip Hop Holdings, Inc. in February 2017. The indefinite-lived tradename asset assessment was performed in accordance with ASC 350, "Intangibles--Goodwill and Other" and was determined using a discounted cash flow analysis which examined the hypothetical cost savings that accrue as a result of our ownership of the tradename. Based on this assessment, a charge of $19.1 million, $10.5 million, and $1.2 million was recorded on our indefinite-lived Skip Hop tradename asset in the U.S. Wholesale, International, and U.S. Retail segments, respectively, to reflect the impairment of the value ascribed to the indefinite-lived Skip Hop tradename asset. The carrying value of the Company's indefinite-lived Skip Hop tradename asset after the impairment charge was $26.0 million.

Changes in the carrying values between comparative periods for goodwill related to the Company's 2011 acquisition of its Canadian business were due to fluctuations in the foreign currency exchange rates between the Canadian and U.S. dollar that were used in the remeasurement process for preparing the Company's consolidated financial statements. The changes in the carrying values of goodwill for Skip Hop and Carter's Mexico and the changes in the carrying value of customer relationships for Carter's Mexico, including the related accumulated amortization, that were not attributable to amortization expense was also impacted by foreign currency exchange rate fluctuations.

Amortization expense for intangible assets subject to amortization was approximately $3.7 million, $3.7 million, and $2.6 million for fiscal years 2019, 2018, and 2017, respectively.

The estimated amortization expense for the next five fiscal years is as follows:



(dollars in thousands)	Amortization expense
2020	$	3,754
2021	$	3,754
2022	$	3,754
2023	$	3,712
2024	$	3,682

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 30, 2019

Dec. 28, 2019

Dec. 29, 2018

Dec. 30, 2017

Defined Benefit Plan Disclosure [Line Items]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

$ 1,500

^[1]

$ 0

Cumulative translation adjustment, beginning balance

(32,964)

$ (21,285)

$ (27,624)

Cumulative translation adjustment, current year change

6,442

(11,679)

6,339

Cumulative translation adjustment, ending balance

(26,522)

(32,964)

(21,285)

Accumulated other comprehensive income (loss), beginning balance

(40,839)

(29,093)

(34,740)

Total other comprehensive income (loss)

6,705

(11,746)

5,647

Accumulated other comprehensive income (loss), ending balance

(35,634)

(40,839)

(29,093)

Unrealized gain (loss) on OshKosh defined benefit plan, net of (tax) or tax benefit of ($230), $80, and $140 for the fiscal years 2019, 2018, and 2017, respectively

746

(281)

(430)

Unrealized (loss) gain on Carter's post-retirement benefit obligation, net of (tax) or tax benefit of $150, ($70), and $70 for fiscal years 2019, 2018, and 2017, respectively

$ (483)

214

(262)

Expected benefit payments for defined benefit pension plans for the next ten fiscal years

The Company currently expects benefit payments for its defined benefit pension plans as follows for the next ten fiscal years:



(dollars in thousands)
2020	$	3,030
2021	$	2,700
2022	$	2,840
2023	$	2,950
2024	$	3,160
2025-2029	$	18,430

Pension Plans

Defined Benefit Plan Disclosure [Line Items]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

$ (1,880)

Pension/post-retirement liability adjustment, beginning balance

(9,562)

(9,281)

8,851

Pension/post-retirement liability adjustment, current year change

281

430

Pension/post-retirement liability adjustment, ending balance

(10,696)

(9,562)

(9,281)

Pension/post-retirement liability adjustments, tax benefit

3,300

5,400

Postretirement Benefit

Defined Benefit Plan Disclosure [Line Items]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

380

Pension/post-retirement liability adjustment, beginning balance

$ 1,687

1,687

1,473

(1,735)

Pension/post-retirement liability adjustment, current year change

(214)

262

Pension/post-retirement liability adjustment, ending balance

1,584

1,687

$ 1,473

Pension/post-retirement liability adjustments, tax benefit

500

$ 1,000

Accumulated Other Comprehensive Income (Loss) [Member]

Defined Benefit Plan Disclosure [Line Items]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

$ (1,500)

[1]

(*)

In the first quarter of fiscal 2019, the Company reclassified $1.5 million of tax benefits from "Accumulated other comprehensive loss" to "Retained earnings" for the tax effects resulting from the December 22, 2017 enactment of the Tax Cut and Jobs Act in accordance with the adoption of Accounting Standards Update 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.

EMPLOYEE BENEFIT PLANS (Defined Contribution Plans) (Details) - Defined Contribution Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Canada
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Defined contribution plan expense for the fiscal year	$ 0.1		$ 0.3
United States
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Minimum age participation for the defined contribution plan (in years)	21 years
Minimum service participation for the defined contribution plan (in months)	1 month
Minimum hours service participation for the defined contribution plan (in hours)	1000 hours
Defined contribution plan expense for the fiscal year	$ 8.0	$ 8.0	$ 13.9

INCOME TAXES (Deferred Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	35.00%
Remeasurement of certain deferred income tax		$ 50,400
Current net deferred tax asset	$ 2,061	2,083
Deferred income taxes	74,370	87,347
Deferred tax assets:
Accounts receivable allowance	3,437	3,674
Inventory	7,963	7,785
Accrued liabilities	10,219	10,672
Equity-based compensation	5,222	5,278
Deferred employee benefits	7,220	6,425
Deferred rent	178,356	33,761
Other	3,699	3,007
Total deferred tax assets	216,116	70,602
Deferred tax liabilities:
Depreciation	(52,664)	(62,898)
Deferred Tax Liabilities, Leasing Arrangements	(149,085)	0
Tradename and licensing agreements	(82,592)	(89,194)
Other	(4,084)	(3,774)
Total deferred tax liabilities	288,425	155,866
Net deferred tax asset (liability)	$ (72,309)	$ (85,264)

EMPLOYEE BENEFIT PLANS (Assumptions) (Details)	12 Months Ended
EMPLOYEE BENEFIT PLANS (Assumptions) (Details)	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Net periodic pension cost
Expected long-term rate of return on assets	6.00%
Pension Plans
Benefit obligation
Discount rate	3.25%	4.00%
Net periodic pension cost
Discount rate	4.00%	3.50%	4.00%
Expected long-term rate of return on assets	5.50%	6.25%	6.00%
Postretirement Benefit
Benefit obligation
Discount rate	3.00%	4.00%
Net periodic pension cost
Discount rate	4.00%	3.25%	3.50%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Income Taxes (Details)	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	35.00%

COMMON STOCK (Share Repurchases) (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 13, 2020	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Accelerated Share Repurchases [Line Items]
Stock repurchase, additional authorized amount					$ 962,500
Remaining capacity under authorization		$ 195,700
Stock Repurchased During Period, Shares		2,107,472	1,879,529	2,103,401
Average price of repurchased and retired shares		$ 93.43	$ 102.70	$ 89.74
Stock Repurchased During Period, Value		$ 196,910	$ 193,028	$ 188,762	$ 688,000
Subsequent Event [Member]
Accelerated Share Repurchases [Line Items]
Stock repurchase, additional authorized amount	$ 500,000
Stock repurchase, authorized amount	$ 1,960,000

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 28, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Investments The Company invests in marketable securities, principally equity based mutual funds, to mitigate the risk associated with the investment return on employee deferrals of compensation. All of the marketable securities are included in Other assets on the accompanying consolidated balance sheets, and their aggregate fair values were approximately $19.7 million and $15.7 million at the end of fiscal 2019 and fiscal 2018, respectively. These investments are classified as Level 1 within the fair value hierarchy. Investments in marketable securities incurred a net gain of approximately $4.0 million for fiscal 2019 and a net loss of approximately $1.0 million for fiscal 2018. The fair value of the Company's pension plan assets at December 28, 2019 and December 29, 2018, by asset category, are disclosed in Note 12, Employee Benefits Plans, to the consolidated financial statements. Foreign Exchange Forward Contracts Fair values of any unsettled foreign exchange forward contracts are calculated by using readily observable market inputs (market-quoted currency exchange rates in effect between the U.S. dollar and the currencies of Canada and Mexico) and are classified as Level 2 within the fair value hierarchy. Any unsettled foreign exchange forward contracts are included in other current assets or other current liabilities on the Company's consolidated balance sheet at the end of each fiscal reporting period. As of December 28, 2019 and December 29, 2018, there were no open foreign currency contracts. Realized and unrealized gains and losses on foreign currency contracts were not material for fiscal 2019, 2018, and 2017. Borrowings As of December 28, 2019, the fair value of the Company's $100.0 million in borrowings under its secured revolving credit facility approximated carrying value. The fair value of the Company's senior notes at December 28, 2019 was approximately $538.4 million. The fair value of these senior notes with a notional value and carrying value (gross of debt issuance costs) of $500 million was estimated using a quoted price as provided in the secondary market, which considers the Company's credit risk and market related conditions, and is therefore within Level 2 of the fair value hierarchy. Goodwill and Intangible Assets Goodwill and indefinite-lived intangible assets are tested annually or if a triggering event occurs that indicates an impairment loss may have been incurred using fair value measurements with unobservable inputs (Level 3). The Company's Skip Hop business has experienced lower than expected actual and projected sales and profitability due to lower domestic demand, including the loss of a significant customer (Toys "R" Us), lower international demand and higher product costs primarily driven by tariffs imposed on products sourced from China. As a result, the Company conducted an interim impairment assessment in the third quarter of fiscal 2019 on the value of the Company's indefinite-lived Skip Hop tradename asset that was recorded in connection with the acquisition of Skip Hop Holdings, Inc. in February 2017. Based on this assessment, a charge of $19.1 million, $10.5 million, and $1.2 million was recorded on our indefinite-lived Skip Hop tradename asset in the U.S. Wholesale, International, and U.S. Retail segments, respectively, to reflect the impairment of the value ascribed to the indefinite-lived Skip Hop tradename asset. The carrying value of the Company's indefinite-lived Skip Hop tradename asset after the impairment charge was $26.0 million. See Note 7, Goodwill and Other Intangible Assets, for further details on the impairment charge and valuation methodologies.

- 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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 214,311	$ 170,077	$ 178,494	$ 299,358
Geographic Distribution, Foreign [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 56,500

LONG-TERM DEBT (Schedule of Long Term Debt) (Details) $ in Thousands	12 Months Ended
	Dec. 28, 2019 USD ($)	Dec. 29, 2018 USD ($)
Debt Instrument [Line Items]
Long-term debt, BS	$ 594,672	$ 593,264
Senior notes
Debt Instrument [Line Items]
Long-term debt, BS	$ 500,000
Minimum [Member]
Debt Instrument [Line Items]
Line of Credit, Debt Covenants, EBITDAR Terms	1.00
Debt covenant, fixed charge coverage ratio	1.00
fiscal quarter of material acquisition [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Line of Credit, Debt Covenants, EBITDAR Terms	1.00
Debt covenant, fixed charge coverage ratio	1.00

- Definition

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

SEGMENT INFORMATION

12 Months Ended

Dec. 28, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company reports segment information based upon a "management approach." The management approach refers to the internal reporting that is used by management for making operating decisions and assessing the performance of the Company's reportable segments. The Company reports its corporate expenses separately as they are not included in the internal measures of segment operating performance used by the Company to measure the underlying performance of its reportable segments.

Segment results include the direct costs of each segment and all other costs are allocated based upon detailed estimates and analysis of actual time and expenses incurred to support the operations of each segment or units produced or sourced to support each segment's revenue. Certain costs, including incentive compensation for certain employees, and various other general corporate costs that are not specifically allocable to segments, are included in corporate expenses below. Intersegment sales and transfers are recorded at cost and are treated as a transfer of inventory. The accounting policies of the segments are the same as those described in Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements.

The table below presents certain segment information for the periods indicated:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			% consolidated net sales		December 29, 2018			% of consolidated net sales		December 30, 2017			% of consolidated net sales
Net sales:
U.S. Retail	$	1,884,150		53.5	%	$	1,851,193		53.5	%	$	1,775,378		52.2	%
U.S. Wholesale	1,205,646			34.3	%	1,180,687			34.1	%	1,209,663			35.6	%
International	429,490			12.2	%	430,389			12.4	%	415,463			12.2	%
Total consolidated net sales	$	3,519,286		100.0	%	$	3,462,269		100.0	%	$	3,400,504		100.0	%
Operating income:				% of segment net sales					% of segment net sales					% of segment net sales
U.S. Retail^(2)(3)(5)(8)	$	225,874		12.0	%	$	224,784		12.1	%	$	215,640		12.1	%
U.S. Wholesale^(1)(4)(5)(8)	212,558			17.6	%	224,194			19.0	%	252,090			20.8	%
International^(5)(6)(8)	36,650			8.5	%	39,253			9.1	%	46,426			11.2	%
Corporate expenses^(7)(9)(10)	(103,210		)	2.9	%	(96,798		)	2.8	%	(94,549		)	2.8	%
Total operating income	$	371,872		10.6	%	$	391,433		11.3	%	$	419,607		12.3	%


(1)	Fiscal 2019 includes a $0.6 million recovery claim settlement, related to a customer bankruptcy in fiscal 2018.


(2)	Fiscal 2019 includes a $0.7 million reversal of retail store restructuring costs previously recorded in fiscal 2017


(3)	Fiscal 2018 includes insurance recovery of approximately $0.4 million associated with unusual storm-related store closures in 2017. Fiscal 2017 includes approximately $2.7 million of expenses related to store restructuring and approximately $12.7 million for provisions for special employee compensation.


(4)	Includes approximately $12.8 million of charges, partially offset by a $1.9 million recovery claim settlement, related to a customer bankruptcy for fiscal 2018. Fiscal 2017 includes approximately $3.3 million for provisions for special employee compensation.


(5)	Includes $1.2 million of certain costs related to inventory acquired from Skip Hop in operating income between U.S. Wholesale, U.S. Retail, and International for fiscal 2017.

(6)

Includes international licensing income. Fiscal 2019 includes a benefit of $2.1 million related to the sale of inventory previously reserved in China. Fiscal 2018 includes approximately $5.3 million in costs associated with changes to the Company's business model in China, which includes inventory and severance charges. Fiscal 2017 includes approximately $2.3 million for provisions for special employee compensation.


(7)	Includes expenses related to incentive compensation, stock-based compensation, executive management, severance and relocation, finance, building occupancy, information technology, certain legal fees, consulting, and audit fees.


(8)	Fiscal 2019 includes an impairment of the Company's indefinite-lived Skip Hop tradename asset of $19.1 million, $10.5 million, and $1.2 million recorded to the U.S. Wholesale, International, and U.S. Retail segments, respectively.


(9)	Fiscal 2019 includes $1.6 million in charges related to organizational restructuring.

(10)Includes the following charges for fiscal 2017:



	For the fiscal year ended
(dollars in millions)	December 30, 2017
Provisions for special employee compensation	$	2.9
Adjustment to Skip Hop contingent consideration	$	(3.6	)
Direct sourcing initiative	$	0.3
Acquisition-related costs	$	3.4

Additional Data by Segment

Inventory

The table below represents inventory by segment:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019		December 29, 2018
U.S. Wholesale^(*)	$	427,387	$	414,174
U.S. Retail	87,721		96,241
International	78,879		63,811
Total	$	593,987	$	574,226


(*)	U.S. Wholesale inventories also include inventory produced and warehoused for the U.S. Retail segment.

The table below represents consolidated net sales by product:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019		December 29, 2018		December 30, 2017
Baby	$	1,228,905	$	1,239,009	$	1,294,404
Playclothes	1,362,847		1,303,610		1,239,546
Sleepwear	428,541		431,961		426,703
Other^(*)	498,993		487,689		439,851
Total net sales	$	3,519,286	$	3,462,269	$	3,400,504


(*)	Other product offerings include bedding, outerwear, swimwear, shoes, socks, diaper bags, gift sets, toys, and hair accessories.

Geographical Data

Revenue

The Company's international sales principally represent sales to customers in Canada. Such sales were 65.6%, 64.2%, and 64.9% of total international net sales in fiscal 2019, 2018, and 2017, respectively.

Long-Lived Assets

The following represents property, plant, and equipment, net, by geographic area:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019		December 29, 2018
United States	$	283,371	$	314,679
International	36,797		35,758
Total	$	320,168	$	350,437

Long-lived assets in the international segment relate principally to Canada. Long-lived assets in Canada were 84.3% and 87.4% of total international long-lived assets at the end of fiscal 2019 and 2018, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Accounting for Shipping and Handling Fees and Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Accounting Policies [Abstract]
Wholesale shipping and handling costs	$ 191.1	$ 188.9	$ 173.5

REVENUE RECOGNITION Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 1,100,523	$ 943,322	$ 734,384	$ 741,057	$ 1,086,379	$ 923,907	$ 696,197	$ 755,786	$ 3,519,286	$ 3,462,269	$ 3,400,504
Accounts receivable, gross	263,979				270,125				263,979	270,125
Accounts receivable, net	251,005				258,259				251,005	258,259
Trade Accounts Receivable [Member]
Disaggregation of Revenue [Line Items]
Accounts receivable, gross	240,750				244,258				240,750	244,258
Royalties receivable [Member]
Disaggregation of Revenue [Line Items]
Accounts receivable, gross	6,982				9,279				6,982	9,279
Tenant allowances and other receivables [Member]
Disaggregation of Revenue [Line Items]
Accounts receivable, gross	16,247				16,588				16,247	16,588
5130 Wholesale, Apparel, Piece Goods and Notions [Member]
Disaggregation of Revenue [Line Items]
Net sales									1,369,439	1,344,324	1,370,513
5600 Retail, Apparel and Accessory Stores [Member]
Disaggregation of Revenue [Line Items]
Net sales									2,149,847	2,117,945	2,029,991
Licensing Agreements [Member]
Disaggregation of Revenue [Line Items]
Net sales									34,637	38,930	43,181
Retail Segment [Member]
Disaggregation of Revenue [Line Items]
Net sales									1,884,150	1,851,193	1,775,378
Retail Segment [Member] \| 5130 Wholesale, Apparel, Piece Goods and Notions [Member]
Disaggregation of Revenue [Line Items]
Net sales									0	0	0
Retail Segment [Member] \| 5600 Retail, Apparel and Accessory Stores [Member]
Disaggregation of Revenue [Line Items]
Net sales									1,884,150	1,851,193	1,775,378
Retail Segment [Member] \| Licensing Agreements [Member]
Disaggregation of Revenue [Line Items]
Net sales									12,990	12,877	15,541
Wholesale Segment [Member]
Disaggregation of Revenue [Line Items]
Net sales									1,205,646	1,180,687	1,209,663
Wholesale Segment [Member] \| 5130 Wholesale, Apparel, Piece Goods and Notions [Member]
Disaggregation of Revenue [Line Items]
Net sales									1,205,646	1,180,687	1,209,663
Wholesale Segment [Member] \| 5600 Retail, Apparel and Accessory Stores [Member]
Disaggregation of Revenue [Line Items]
Net sales									0	0	0
Wholesale Segment [Member] \| Licensing Agreements [Member]
Disaggregation of Revenue [Line Items]
Net sales									17,670	22,511	23,767
International
Disaggregation of Revenue [Line Items]
Net sales									429,490	430,389	415,463
International \| 5130 Wholesale, Apparel, Piece Goods and Notions [Member]
Disaggregation of Revenue [Line Items]
Net sales									163,793	163,637	160,850
International \| 5600 Retail, Apparel and Accessory Stores [Member]
Disaggregation of Revenue [Line Items]
Net sales									265,697	266,752	254,613
International \| Licensing Agreements [Member]
Disaggregation of Revenue [Line Items]
Net sales									3,977	3,542	$ 3,873
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Allowance for Credit Loss, Current	$ 12,974				$ 11,866				$ 12,974	$ 11,866

SEGMENT INFORMATION (Net Sales) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Revenue from External Customer [Line Items]
Net sales	$ 1,100,523	$ 943,322	$ 734,384	$ 741,057	$ 1,086,379	$ 923,907	$ 696,197	$ 755,786	$ 3,519,286	$ 3,462,269	$ 3,400,504
Baby [Member]
Revenue from External Customer [Line Items]
Net sales									1,228,905	1,239,009	1,294,404
Playclothes [Member]
Revenue from External Customer [Line Items]
Net sales									1,362,847	1,303,610	1,239,546
Sleepwear [Member]
Revenue from External Customer [Line Items]
Net sales									428,541	431,961	426,703
Other Products [Member]
Revenue from External Customer [Line Items]
Net sales									$ 498,993	$ 487,689	$ 439,851

REVENUE RECOGNITION Change in Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Dec. 29, 2018
Revenue from Contract with Customer [Abstract]
Gift Card Liability, Current	$ 17,563	$ 14,471
Contract with Customer, Refund Liability, Current	5,615	7,764
Contract with Customer Private label credit card	714
Contract with Customer, Liability, Current	$ 23,892	$ 22,949

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Property, Plant, and Equipment) (Details)	12 Months Ended
	Dec. 28, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Buildings [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	15 years
Buildings [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	26 years
Retail Store Fixtures, Equipment, and Computers [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Retail Store Fixtures, Equipment, and Computers [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years
Computer Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Computer Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years

BUSINESS ACQUISITIONS (Acquisition of Mexican Licensee) (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Business Acquisition [Line Items]
Goodwill	$ 229,026	$ 227,101
Mexican Licensee [Member]
Business Acquisition [Line Items]
Inventory		8,000	$ 8,300
Intangible Assets		3,500	3,500
Goodwill		$ 6,300	$ 6,200

STOCK-BASED COMPENSATION (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	May 17, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in the number of shares under the existing plan (in shares)				3,000,000
Original number of shares available under the plan (in shares)				15,778,392
Stock available under the existing plan (in shares)				18,778,392
Available for grant under the Plan (in shares)	3,430,375
Intrinsic value of basic stock options exercised	$ 13.3	$ 16.6	$ 14.9
Weighted- average exercise price per share, Exercisable (in dollars per share)	$ 68.88
Vested and expected to vest (in shares)	1,100,020
Weighted- average exercise price per share, Vested and Expected to Vest (in dollars per share)	$ 78.10
Weighted-average expense recognition period (in years)	2 years 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	131,924	151,321	168,471
Granted (in shares)	266,635
Granted (in dollars per share)	$ 89.55
Vested (in dollars per share)	$ 93.03	$ 84.56	$ 74.00
Shares outstanding (in shares)	458,500	374,008
Weighted-average grant-date fair value outstanding (in dollars per share)	$ 94.58	$ 97.57
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Unrecognized compensation cost	$ 4.6
Weighted-average expense recognition period (in years)	1 year 9 months 18 days
Performance-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 2.7
Weighted-average expense recognition period (in years)	1 year 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	29,432
Vested (in dollars per share)	$ 90.66
Shares outstanding (in shares)	154,996
Weighted-average grant-date fair value outstanding (in dollars per share)	$ 95.28
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 20.8
Time-based restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 18.1
Weighted-average expense recognition period (in years)	2 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	102,492	100,625	114,703
Vested (in dollars per share)	$ 93.70	$ 85.64	$ 76.58
Performance-based restricted stock awards to the CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	60,700	45,625	60,952
Granted (in dollars per share)	$ 88.87	$ 120.25	$ 83.84
Minimum [Member] \| Time-based restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years

UNAUDITED QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Effect of Fourth Quarter Events [Line Items]
Net sales	$ 1,100,523	$ 943,322	$ 734,384	$ 741,057	$ 1,086,379	$ 923,907	$ 696,197	$ 755,786	$ 3,519,286	$ 3,462,269	$ 3,400,504
Gross profit	467,476	402,211	322,996	315,867	467,598	387,450	309,958	332,477	1,508,550	1,497,483	1,483,354
Net sales	1,100,523	943,322	734,384	741,057	1,086,379	923,907	696,197	755,786	3,519,286	3,462,269	3,400,504
Selling, general, and administrative expenses	311,975	296,733	268,155	263,652	307,358	294,117	263,343	280,162	1,140,515	1,144,980	1,106,928
Intangible asset impairment	0	30,800	0	0					30,800	0	0
Operating income	162,767	83,870	64,476	60,759	170,597	103,557	56,970	60,309	371,872	391,433	419,607
Net income	$ 125,147	$ 60,252	$ 43,937	$ 34,466	$ 130,561	$ 71,770	$ 37,268	$ 42,469	$ 263,802	$ 282,068	$ 302,848
Basic net income per common share (in dollars per share)	$ 2.84	$ 1.35	$ 0.97	$ 0.76	$ 2.85	$ 1.55	$ 0.80	$ 0.90	$ 5.89	$ 6.06	$ 6.31
Diluted net income per common share (in dollars per share)	$ 2.82	$ 1.34	$ 0.97	$ 0.75	$ 2.83	$ 1.53	$ 0.79	$ 0.89	$ 5.85	$ 6.00	$ 6.24
Royalty [Member]
Effect of Fourth Quarter Events [Line Items]
Net sales	$ 7,266	$ 9,192	$ 9,635	$ 8,544	$ 10,357	$ 10,224	$ 10,355	$ 7,994	$ 34,637	$ 38,930	$ 43,181
Net sales	$ 7,266	$ 9,192	$ 9,635	$ 8,544	$ 10,357	$ 10,224	$ 10,355	$ 7,994	$ 34,637	$ 38,930	$ 43,181

COMMON STOCK

12 Months Ended

Dec. 28, 2019

Equity [Abstract]

COMMON STOCK

Share Repurchases

In fiscal years prior to 2017, the Company's Board of Directors authorized the repurchase of shares of the Company's common stock in amounts up to $962.5 million. On both February 13, 2020 and February 22, 2018, the Company's Board of Directors authorized an additional $500 million of share repurchases, resulting in the authorization of an aggregate of $1.96 billion in share repurchases over time.

Open-market repurchases of our common stock during fiscal years 2019, 2018 and 2017 were as follows:



	For the fiscal year ended
	December 28, 2019		December 29, 2018		December 30, 2017
Number of shares repurchased	2,107,472		1,879,529		2,103,401
Aggregate cost of shares repurchased (dollars in thousands)	$	196,910	$	193,028	$	188,762
Average price per share	$	93.43	$	102.70	$	89.74

In addition to the open-market repurchases completed in fiscal years 2019, 2018 and 2017, the Company completed additional open-market repurchases totaling approximately $688.0 million in fiscal year priors to 2017. The total remaining capacity under the repurchase authorizations as of December 28, 2019 was $195.7 million.

Future share repurchases may occur from time to time in the open market, in negotiated transactions, or otherwise. The timing and amount of any repurchases will be determined by the Company based on its evaluation of market conditions, share price, other investment priorities, and other factors. The share repurchase authorizations have no expiration dates.

Dividends

In fiscal 2019, the Company's Board of Directors declared and paid quarterly cash dividends of $0.50 per share during all four quarters. In fiscal 2018, the Company's Board of Directors paid quarterly cash dividends of $0.45 per share during all four quarters.

On February 13, 2020, the Company's Board of Directors authorized a quarterly cash dividend payment of $0.60 per common share, payable on March 20, 2020 to shareholders of record at the close of business on March 6, 2020.

Future declarations of dividends and the establishment of future record and payment dates are at the discretion of the Company's Board of Directors based on a number of factors, including the Company's future financial performance and other investment priorities.

Provisions in the Company's secured revolving credit facility and indenture governing its senior notes could have the effect of restricting the Company's ability to pay future cash dividends on or make future repurchases of its common stock, as further described in Note 9, Long-Term Debt, to the consolidated financial statements.

EMPLOYEE BENEFIT PLANS (Expected Benefit Payments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution	$ 300	$ 300	$ 300
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution	0	$ 6,000
2019	3,030
2020	2,700
2021	2,840
2022	2,950
2023	3,160
2024 and thereafter	18,430
Postretirement Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2019	300
2024 and thereafter	$ 1,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairment	$ 0	$ 30,800	$ 0	$ 0	$ 30,800	$ 0	$ 0
Skip Hop Trade Name [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite intangible assets	$ 26,000				26,000	$ 56,800
Wholesale Segment [Member] \| Skip Hop Trade Name [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairment					19,100
International Segment [Member] \| Skip Hop Trade Name [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairment					10,500
Retail Segment [Member] \| Skip Hop Trade Name [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairment					$ 1,200

INCOME TAXES (Provision for Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 30, 2017	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Income Tax Disclosure [Abstract]
Undistributed Earnings of Foreign Subsidiaries		$ 45,000
Current tax provision:
Federal		50,162	$ 48,129	$ 117,676
State		10,548	9,437	11,368
Foreign		16,740	17,359	14,116
Total current provision		77,450	74,925	143,160
Deferred tax provision (benefit):
Federal		(10,775)	(760)	(55,191)
State		(1,882)	140	337
Foreign		(643)	(398)	(82)
Total deferred provision (benefit)		(13,300)	(1,018)	(54,936)
Total provision		$ 64,150	$ 73,907	$ 88,224
Foreign earnings	$ 10,400

SEGMENT INFORMATION (Net Inventory) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Segment Reporting Information [Line Items]
Finished goods inventories	$ 593,987	$ 574,226
Wholesale [Member]
Segment Reporting Information [Line Items]
Accounts Receivable, Allowance for Credit Loss, Recovery	600	1,900
Operating Segments [Member] \| Wholesale [Member]
Segment Reporting Information [Line Items]
Finished goods inventories	427,387	414,174
Operating Segments [Member] \| Retail [Member]
Segment Reporting Information [Line Items]
Finished goods inventories	87,721	96,241
Operating Segments [Member] \| International
Segment Reporting Information [Line Items]
Finished goods inventories	$ 78,879	$ 63,811

BUSINESS ACQUISITIONS (Notes)	12 Months Ended
BUSINESS ACQUISITIONS (Notes)	Dec. 28, 2019
Business Combinations [Abstract]
BUSINESS ACQUISITIONS	ACQUISITIONS Based on their purchase prices and pre-acquisition operating results and assets, neither of the businesses acquired by the Company in fiscal 2017 met the materiality requirements for preparation and presentation of pro forma financial information, either individually or in the aggregate. Skip Hop Acquisition Carter's, Inc.'s wholly-owned subsidiary, The William Carter Company ("TWCC"), acquired 100% of the voting equity interests of Skip Hop Holdings, Inc. and subsidiaries (collectively "Skip Hop") after the close of business on February 22, 2017. The Skip Hop purchase was deemed to be the acquisition of a business under the provisions of ASC No. 805, Business Combinations ("ASC 805"). The Company's consolidated financial statements reflect the consolidation of the financial position, results of operations and cash flows of Skip Hop beginning February 23, 2017. The measurement period (as defined in ASC 805) for Skip Hop was complete at the end of fiscal 2017 and all measurement period adjustments were reflected in the Company's consolidated balance sheet as of December 30, 2017. As a result of the measurement period adjustments recorded between the acquisition date and the end of fiscal 2017, the net assets acquired consisted of the following: $46.0 million of goodwill including an assembled workforce; $104.1 million of intangible assets comprised of a tradename and acquired customer relationships; $53.9 million of tangible assets acquired; and $20.8 million of liabilities in addition to $36.3 million of deferred income tax liabilities. The adjusted purchase price was approximately $142.5 million, net of $0.8 million of cash acquired. Acquisition of Mexican Licensee On August 1, 2017, the Company, through certain of its wholly-owned subsidiaries, acquired the outstanding equity of the Company's licensee in Mexico and a related entity (collectively "Carter's Mexico"). Both entities are incorporated under Mexican law. Prior to the acquisition, Carter's Mexico was primarily a licensee and wholesale customer of the Company. The Carter's Mexico purchase was deemed to be the acquisition of a business under the provisions of ASC 805. The Company's consolidated financial statements reflect the consolidation of the financial position, results of operations and cash flows of Carter's Mexico beginning August 1, 2017. Carter's Mexico became part of the Company's International reportable segment. As of December 30, 2017, preliminary values assigned to assets acquired included inventories of approximately $8.3 million, a customer relationships intangible asset of approximately $3.5 million, and goodwill of approximately $6.2 million. Measurement period adjustments made in the first quarter of fiscal 2018 were not material. The measurement period (as defined in ASC 805) for the acquisition of Carter's Mexico was completed during the second quarter of fiscal 2018 and all measurement period adjustments were reflected in the Company's consolidated balance sheet as of December 29, 2018. As a result of the measurement period adjustments recorded between the acquisition date and the end of the second quarter of fiscal 2018, the values assigned to assets acquired included inventories of approximately $8.0 million, a customer relationships intangible asset of approximately $3.5 million, and goodwill of approximately $6.3 million.

INCOME TAXES (Income Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 225,488	$ 260,722	$ 325,620
Foreign	102,464	95,253	65,452
Total	$ 327,952	$ 355,975	$ 391,072

EMPLOYEE BENEFIT PLANS (Net Periodic (Benefit) Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost on accumulated benefit obligation	$ 2,432	$ 2,287	$ 2,446
Expected return on assets	(2,613)	(2,934)	(2,601)
Amortization of net actuarial gain (loss)	795	709	681
Total net periodic (benefit) cost	614	62	526
Total net periodic cost (benefit) and changes recognized in OCI	(363)	423	1,096
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	(182)	1,070	1,251
Amortization of actuarial gain/loss	(795)	(709)	(681)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax	(977)	361	570
Postretirement Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost - benefits attributed to service during the period	21	32	30
Interest cost on accumulated benefit obligation	123	123	137
Amortization of net actuarial gain (loss)	(396)	(289)	(306)
Total net periodic (benefit) cost	(252)	(134)	(139)
Total net periodic cost (benefit) and changes recognized in OCI	382	(418)	193
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	238	(573)	26
Amortization of actuarial gain/loss	(396)	(289)	(306)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax	634	$ (284)	$ 332
Reclassification out of Accumulated Other Comprehensive Income \| Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amortization of net actuarial gain (loss)	500
Reclassification out of Accumulated Other Comprehensive Income \| Postretirement Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amortization of net actuarial gain (loss)	$ 300

INCOME TAXES

12 Months Ended

Dec. 28, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

Provision for Income Taxes

The provision for income taxes consisted of the following:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			December 29, 2018			December 30, 2017
Current tax provision:
Federal	$	50,162		$	48,129		$	117,676
State	10,548			9,437			11,368
Foreign	16,740			17,359			14,116
Total current provision	$	77,450		$	74,925		$	143,160

Deferred tax provision (benefit):
Federal	$	(10,775	)	$	(760	)	$	(55,191	)
State	(1,882		)	140			337
Foreign	(643		)	(398		)	(82		)
Total deferred provision	(13,300		)	(1,018		)	(54,936		)
Total provision	$	64,150		$	73,907		$	88,224

The foreign portion of the tax position substantially relates to the Company's international operations in Canada, Hong Kong and Mexico in addition to foreign tax withholdings related to the Company's foreign royalty income.

The Company plans to repatriate undistributed earnings from Hong Kong and has provided for deferred income taxes related to these earnings. Since the current US tax regime taxes foreign earnings in the year earned, taxes associated with repatriation are not material. Deferred income taxes have not been provided for undistributed foreign earnings from Canada or Mexico, or any additional outside basis difference inherent in all foreign entities, as these amounts continue to be indefinitely reinvested in foreign operations. Total undistributed earnings from the Company's subsidiaries in Canada and Mexico amounted to approximately $45 million. Unrecognized deferred tax liability related to undistributed earnings from the Company's subsidiaries in Canada and Mexico is estimated to be approximately $2 million, based on applicable withholding taxes, levels of foreign income previously taxed in the U.S. and applicable foreign tax credit limitations. The company accounts for the additional U.S. income tax on its foreign earnings under Global Intangible Low-Taxed Income ("GILTI") as a period expense in the period in which additional tax is due.

Provisional estimate

The provision for income taxes recognized by the Company during 2017 reflected certain provisional estimates for the accounting of the December 22, 2017 enactment of tax law changes known as the 2017 Act. During the fourth quarter of fiscal 2017, the Company recognized an income tax provisional tax expense of $10.4 million related to the Company's total post-1986 foreign earnings and profits ("E&P") that the Company previously deferred from United States income taxes. During fiscal 2018, the Company completed its calculation of the one-time transition tax for all of its foreign subsidiaries. The adjustment made to this provisional tax expense estimate was not material.

The components of income before income taxes were as follows:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019		December 29, 2018		December 30, 2017
Domestic	$	225,488	$	260,722	$	325,620
Foreign	102,464		95,253		65,452
Total	$	327,952	$	355,975	$	391,072

Effective Rate Reconciliation

The difference between the Company's effective income tax rate and the federal statutory tax rate is reconciled below:



	For the fiscal year ended
	December 28, 2019		December 29, 2018		December 30, 2017
Statutory federal income tax rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal income tax benefit	2.5	%	2.8	%	2.1	%
Impact of foreign operations	(2.4	)%	(1.5	)%	(2.7	)%
Settlement of uncertain tax positions	(0.7	)%	(0.4	)%	(0.3	)%
Benefit from stock-based compensation	(0.8	)%	(1.1	)%	(1.3	)%
Imposition of transition tax on foreign subsidiaries	—	%	—	%	2.7	%
Revaluation of deferred taxes	—	%	—	%	(12.9	)%
Total	19.6	%	20.8	%	22.6	%

The Company and its subsidiaries file a consolidated United States federal income tax return, as well as separate and combined income tax returns in numerous state and foreign jurisdictions. In most cases, the Company is no longer subject to US tax authority examinations for years prior to fiscal 2015.

Deferred Taxes

The following table reflects the Company's calculation of the components of deferred tax assets and liabilities as of December 28, 2019 and December 29, 2018.



(dollars in thousands)	December 28, 2019			December 29, 2018
Deferred tax assets:	Assets (Liabilities)
Accounts receivable allowance	$	3,437		$	3,674
Inventory	7,963			7,785
Accrued liabilities	10,219			10,672
Equity-based compensation	5,222			5,278
Deferred employee benefits	7,220			6,425
Leasing liabilities	178,356			33,761
Other	3,699			3,007
Total deferred tax assets	216,116			70,602
Deferred tax liabilities:
Depreciation	(52,664		)	(62,898		)
Leasing assets	(149,085		)	—
Tradename and licensing agreements	(82,592		)	(89,194		)
Other	(4,084		)	(3,774		)
Total deferred tax liabilities	(288,425		)	(155,866		)

Net deferred tax asset (liability)	$	(72,309	)	$	(85,264	)

Amounts recognized in the consolidated balance sheets:



(dollars in thousands)	December 28, 2019			December 29, 2018
	Assets (Liabilities)
Deferred tax assets	$	2,061		$	2,083
Deferred tax liabilities	(74,370		)	(87,347		)
Net deferred tax asset (liability)	$	(72,309	)	$	(85,264	)

During the fourth quarter of fiscal 2017, the Company remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally a 21% federal rate. The remeasurement resulted in an income tax benefit of $50.4 million.

Uncertain Tax Positions

The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits:



(dollars in thousands)
Balance at December 31, 2016	$	10,537
Additions based on tax positions related to fiscal 2017	3,380
Reductions for prior year tax positions	(120		)
Reductions for lapse of statute of limitations	(1,604		)
Balance at December 30, 2017	$	12,193
Additions based on tax positions related to fiscal 2018	3,350
Additions for prior year tax positions	241
Reductions for lapse of statute of limitations	(1,867		)
Balance at December 29, 2018	$	13,917
Additions based on tax positions related to fiscal 2019	2,197
Reductions for lapse of statute of limitations	(2,191		)
Balance at December 28, 2019	$	13,923

As of December 28, 2019, the Company had gross unrecognized tax benefits of approximately $13.9 million, of which $11.9 million, if ultimately recognized, will affect the Company's effective tax rate in the period settled. The Company has recorded tax positions for which the ultimate deductibility is more likely than not, but for which there is uncertainty about the timing of such deductions. Because of deferred tax accounting, changes in the timing of these deductions would not affect the annual effective tax rate, but would accelerate the payment of cash to the taxing authorities.

Included in the reserves for unrecognized tax benefits are approximately $2.1 million of reserves for which the statute of limitations is expected to expire within the next fiscal year. If these tax benefits are ultimately recognized, such recognition, net of federal income taxes, may affect the annual effective tax rate for fiscal 2020 and the effective tax rate in the quarter in which the benefits are recognized.

The Company recognizes interest related to unrecognized tax benefits as a component of interest expense and penalties related to unrecognized tax benefits as a component of income tax expense. During fiscal 2019 and 2018, expense recorded on uncertain tax positions was approximately $0.5 million and $0.8 million, respectively. During fiscal 2017, interest expense recorded on uncertain tax positions was not significant. The Company had accrued interest on uncertain tax positions of approximately $2.3 million and $1.8 million as of December 28, 2019 and December 29, 2018, respectively.

INCOME TAXES (Uncertain Tax Provisions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Unrecognized income tax benefits [Roll Forward]
Beginning Balance	$ 13,917	$ 12,193	$ 10,537
Additions based on fiscal year tax positions	2,197	3,350	3,380
Reductions for prior year tax positions		(241)	(120)
Reductions for lapse of statute of limitations	(2,191)	(1,867)	(1,604)
Ending Balance	13,923	13,917	$ 12,193
Impact of recognized tax benefit on effective tax rate, if recognized	11,900
Tax reserve for which statute of limitations is expected to expire	2,100
Other Tax Expense (Benefit)	500	800
Interest accrued for uncertain tax positions	$ 2,300	$ 1,800

PROPERTY, PLANT, AND EQUIPMENT

12 Months Ended

Dec. 28, 2019

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment, net consists of the following:



(dollars in thousands)	December 28, 2019			December 29, 2018
Land, building, and leasehold improvements	$	363,428		$	348,131
Fixtures, equipment, and computer hardware	297,930			277,321
Computer software	161,104			148,365
Marketing fixtures	11,160			7,001
Construction in progress	10,394			18,517
	844,016			799,335
Accumulated depreciation and amortization	(523,848		)	(448,898		)
Total	$	320,168		$	350,437

Depreciation and amortization expense related to property, plant, and equipment was approximately $92.2 million, $85.9 million, and $81.8 million for fiscal years 2019, 2018, and 2017, respectively.

STOCK-BASED COMPENSATION (Restricted Stock Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	Dec. 28, 2019
Restricted Stock
Shares outstanding (in shares)	374,008
Granted (in shares)	266,635
Vested (in shares)	(131,924)	(151,321)	(168,471)
Forfeited (in shares)	(50,219)
Shares outstanding (in shares)	458,500	374,008
Weighted-average grant-date fair value
Weighted-average grant-date fair value outstanding (in dollars per share)	$ 94.58	$ 97.57		$ 94.58
Granted (in dollars per share)	89.55
Vested (in dollars per share)	93.03	84.56	$ 74.00
Forfeited (in dollars per share)	94.21
Weighted-average grant-date fair value outstanding (in dollars per share)	$ 94.58	$ 97.57
Weighted-average expense recognition period (in years)	2 years 7 months 6 days
Performance-based restricted stock awards to the CEO
Restricted Stock
Granted (in shares)	60,700	45,625	60,952
Weighted-average grant-date fair value
Granted (in dollars per share)	$ 88.87	$ 120.25	$ 83.84
Time-based restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost				$ 18.1
Restricted Stock
Vested (in shares)	(102,492)	(100,625)	(114,703)
Weighted-average grant-date fair value
Vested (in dollars per share)	$ 93.70	$ 85.64	$ 76.58
Weighted-average expense recognition period (in years)	2 years 8 months 12 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost				20.8
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost				$ 2.7
Restricted Stock
Vested (in shares)	(29,432)
Shares outstanding (in shares)	154,996
Weighted-average grant-date fair value
Weighted-average grant-date fair value outstanding (in dollars per share)	$ 95.28			$ 95.28
Vested (in dollars per share)	90.66
Weighted-average grant-date fair value outstanding (in dollars per share)	$ 95.28
Weighted-average expense recognition period (in years)	1 year 8 months 12 days
Minimum [Member] \| Time-based restricted stock [Member]
Weighted-average grant-date fair value
Vesting period (in years)	3 years
Maximum [Member] \| Time-based restricted stock [Member]
Weighted-average grant-date fair value
Vesting period (in years)	4 years

REVENUE RECOGNITION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	$ 1,100,523	$ 943,322	$ 734,384	$ 741,057	$ 1,086,379	$ 923,907	$ 696,197	$ 755,786	$ 3,519,286	$ 3,462,269	$ 3,400,504
Cost of goods sold									2,010,736	1,964,786	1,917,150
Net income	$ 125,147	$ 60,252	$ 43,937	$ 34,466	$ 130,561	$ 71,770	$ 37,268	$ 42,469	$ 263,802	$ 282,068	$ 302,848
Basic net income per common share (in dollars per share)	$ 2.84	$ 1.35	$ 0.97	$ 0.76	$ 2.85	$ 1.55	$ 0.80	$ 0.90	$ 5.89	$ 6.06	$ 6.31
Diluted net income per common share	$ 2.82	$ 1.34	$ 0.97	$ 0.75	$ 2.83	$ 1.53	$ 0.79	$ 0.89	$ 5.85	$ 6.00	$ 6.24
ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales											$ 92
Cost of goods sold											52
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest											40
Net income											$ 84
Basic net income per common share (in dollars per share)											$ 0
Diluted net income per common share											$ 0
Retail Segment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									$ 1,884,150	$ 1,851,193	$ 1,775,378
Wholesale Segment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									1,205,646	1,180,687	1,209,663
International
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									429,490	430,389	415,463
5130 Wholesale, Apparel, Piece Goods and Notions [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									1,369,439	1,344,324	1,370,513
5130 Wholesale, Apparel, Piece Goods and Notions [Member] \| Retail Segment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									0	0	0
5130 Wholesale, Apparel, Piece Goods and Notions [Member] \| Wholesale Segment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									1,205,646	1,180,687	1,209,663
5130 Wholesale, Apparel, Piece Goods and Notions [Member] \| International
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									163,793	163,637	160,850
5600 Retail, Apparel and Accessory Stores [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									2,149,847	2,117,945	2,029,991
5600 Retail, Apparel and Accessory Stores [Member] \| Retail Segment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									1,884,150	1,851,193	1,775,378
5600 Retail, Apparel and Accessory Stores [Member] \| Wholesale Segment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									0	0	0
5600 Retail, Apparel and Accessory Stores [Member] \| International
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									265,697	266,752	254,613
Licensing Agreements [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									34,637	38,930	43,181
Licensing Agreements [Member] \| Retail Segment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									12,990	12,877	15,541
Licensing Agreements [Member] \| Wholesale Segment [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									17,670	22,511	23,767
Licensing Agreements [Member] \| International
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales									$ 3,977	$ 3,542	$ 3,873

INCOME TAXES (Tables)

12 Months Ended

Dec. 28, 2019

Income Tax Disclosure [Abstract]

Provision for income taxes

The provision for income taxes consisted of the following:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			December 29, 2018			December 30, 2017
Current tax provision:
Federal	$	50,162		$	48,129		$	117,676
State	10,548			9,437			11,368
Foreign	16,740			17,359			14,116
Total current provision	$	77,450		$	74,925		$	143,160

Deferred tax provision (benefit):
Federal	$	(10,775	)	$	(760	)	$	(55,191	)
State	(1,882		)	140			337
Foreign	(643		)	(398		)	(82		)
Total deferred provision	(13,300		)	(1,018		)	(54,936		)
Total provision	$	64,150		$	73,907		$	88,224

The components of income before income taxes were as follows:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019		December 29, 2018		December 30, 2017
Domestic	$	225,488	$	260,722	$	325,620
Foreign	102,464		95,253		65,452
Total	$	327,952	$	355,975	$	391,072

Federal statutory tax rate reconciliation

The difference between the Company's effective income tax rate and the federal statutory tax rate is reconciled below:



	For the fiscal year ended
	December 28, 2019		December 29, 2018		December 30, 2017
Statutory federal income tax rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal income tax benefit	2.5	%	2.8	%	2.1	%
Impact of foreign operations	(2.4	)%	(1.5	)%	(2.7	)%
Settlement of uncertain tax positions	(0.7	)%	(0.4	)%	(0.3	)%
Benefit from stock-based compensation	(0.8	)%	(1.1	)%	(1.3	)%
Imposition of transition tax on foreign subsidiaries	—	%	—	%	2.7	%
Revaluation of deferred taxes	—	%	—	%	(12.9	)%
Total	19.6	%	20.8	%	22.6	%

Components of deferred tax assets and liabilities

The following table reflects the Company's calculation of the components of deferred tax assets and liabilities as of December 28, 2019 and December 29, 2018.



(dollars in thousands)	December 28, 2019			December 29, 2018
Deferred tax assets:	Assets (Liabilities)
Accounts receivable allowance	$	3,437		$	3,674
Inventory	7,963			7,785
Accrued liabilities	10,219			10,672
Equity-based compensation	5,222			5,278
Deferred employee benefits	7,220			6,425
Leasing liabilities	178,356			33,761
Other	3,699			3,007
Total deferred tax assets	216,116			70,602
Deferred tax liabilities:
Depreciation	(52,664		)	(62,898		)
Leasing assets	(149,085		)	—
Tradename and licensing agreements	(82,592		)	(89,194		)
Other	(4,084		)	(3,774		)
Total deferred tax liabilities	(288,425		)	(155,866		)

Net deferred tax asset (liability)	$	(72,309	)	$	(85,264	)

Net deferred tax liability



(dollars in thousands)	December 28, 2019			December 29, 2018
	Assets (Liabilities)
Deferred tax assets	$	2,061		$	2,083
Deferred tax liabilities	(74,370		)	(87,347		)
Net deferred tax asset (liability)	$	(72,309	)	$	(85,264	)

Unrecognized tax benefits

The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits:



(dollars in thousands)
Balance at December 31, 2016	$	10,537
Additions based on tax positions related to fiscal 2017	3,380
Reductions for prior year tax positions	(120		)
Reductions for lapse of statute of limitations	(1,604		)
Balance at December 30, 2017	$	12,193
Additions based on tax positions related to fiscal 2018	3,350
Additions for prior year tax positions	241
Reductions for lapse of statute of limitations	(1,867		)
Balance at December 29, 2018	$	13,917
Additions based on tax positions related to fiscal 2019	2,197
Reductions for lapse of statute of limitations	(2,191		)
Balance at December 28, 2019	$	13,923

OTHER CURRENT AND LONG-TERM LIABILITIES (Other Long-Term Liabilities) (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Dec. 29, 2018
Other Liabilities Disclosure [Abstract]
Deferred lease incentives	$ 0	$ 72,345

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)

12 Months Ended

Dec. 28, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of accumulated other comprehensive (loss) income

Accumulated other comprehensive (loss) income is summarized as follows:



(dollars in thousands)	Pension liability adjustments			Post-retirement liability adjustments			Cumulative translation adjustments			Accumulated other comprehensive (loss) income
Balance at December 31, 2016	$	(8,851	)	$	1,735		$	(27,624	)	$	(34,740	)
Fiscal year 2017 change	(430		)	(262		)	6,339			5,647
Balance at December 30, 2017	(9,281		)	1,473			(21,285		)	(29,093		)
Fiscal year 2018 change	(281		)	214			(11,679		)	(11,746		)
Balance at December 29, 2018	(9,562		)	1,687			(32,964		)	(40,839		)
Reclassification of tax effects^(*)	(1,880		)	380			—			(1,500		)
Fiscal year 2019 change	746			(483		)	6,442			6,705
Balance at December 28, 2019	$	(10,696	)	$	1,584		$	(26,522	)	$	(35,634	)

EMPLOYEE BENEFIT PLANS (Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Contribution	$ 300	$ 300	$ 300
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Contribution	0	6,000
Fair value of plan assets	61,961	55,564	$ 54,437
Pension Plans \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	61,689	55,323
Pension Plans \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	272	241
Pension Plans \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	606	550
Pension Plans \| Cash and Cash Equivalents [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	606	550
Pension Plans \| Cash and Cash Equivalents [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Plans \| U.S. Large-Cap blend [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,673	7,693
Pension Plans \| U.S. Large-Cap blend [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,673	7,693
Pension Plans \| U.S. Large-Cap blend [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Plans \| U.S. Large-Cap growth [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,905	3,478
Pension Plans \| U.S. Large-Cap growth [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,905	3,478
Pension Plans \| U.S. Large-Cap growth [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Plans \| U.S. Mid-Cap growth [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,751	3,355
Pension Plans \| U.S. Mid-Cap growth [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,751	3,355
Pension Plans \| U.S. Mid-Cap growth [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Plans \| U.S. Small-Cap blend [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,511	2,224
Pension Plans \| U.S. Small-Cap blend [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,511	2,224
Pension Plans \| U.S. Small-Cap blend [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Plans \| International blend [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9,408	8,302
Pension Plans \| International blend [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9,408	8,302
Pension Plans \| International blend [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Plans \| Corporate Bond Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30,051	27,247
Pension Plans \| Corporate Bond Securities [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29,779	27,006
Pension Plans \| Corporate Bond Securities [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	272	241
Pension Plans \| Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,056	2,715
Pension Plans \| Real Estate [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,056	2,715
Pension Plans \| Real Estate [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

OTHER CURRENT AND LONG-TERM LIABILITIES (Other Current Liabilities) (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Dec. 29, 2018
Other Liabilities Disclosure [Abstract]
Accrued Employee Benefits	$ 16,556	$ 16,421
Accrued and Deferred rent	311	19,120
Accrued Income Taxes, Current	$ 23,269	$ 17,415

FAIR VALUE MEASUREMENTS Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Intangible asset impairment	$ 0	$ 30,800	$ 0	$ 0	$ 30,800	$ 0	$ 0
Skip Hop Trade Name [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Indefinite intangible assets	$ 26,000				26,000	$ 56,800
Skip Hop Trade Name [Member] \| International Segment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Intangible asset impairment					10,500
Skip Hop Trade Name [Member] \| Retail Segment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Intangible asset impairment					1,200
Skip Hop Trade Name [Member] \| Wholesale Segment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Intangible asset impairment					$ 19,100

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 28, 2019

Segment Reporting [Abstract]

Schedule of segment information

The table below presents certain segment information for the periods indicated:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			% consolidated net sales		December 29, 2018			% of consolidated net sales		December 30, 2017			% of consolidated net sales
Net sales:
U.S. Retail	$	1,884,150		53.5	%	$	1,851,193		53.5	%	$	1,775,378		52.2	%
U.S. Wholesale	1,205,646			34.3	%	1,180,687			34.1	%	1,209,663			35.6	%
International	429,490			12.2	%	430,389			12.4	%	415,463			12.2	%
Total consolidated net sales	$	3,519,286		100.0	%	$	3,462,269		100.0	%	$	3,400,504		100.0	%
Operating income:				% of segment net sales					% of segment net sales					% of segment net sales
U.S. Retail^(2)(3)(5)(8)	$	225,874		12.0	%	$	224,784		12.1	%	$	215,640		12.1	%
U.S. Wholesale^(1)(4)(5)(8)	212,558			17.6	%	224,194			19.0	%	252,090			20.8	%
International^(5)(6)(8)	36,650			8.5	%	39,253			9.1	%	46,426			11.2	%
Corporate expenses^(7)(9)(10)	(103,210		)	2.9	%	(96,798		)	2.8	%	(94,549		)	2.8	%
Total operating income	$	371,872		10.6	%	$	391,433		11.3	%	$	419,607		12.3	%


(1)	Fiscal 2019 includes a $0.6 million recovery claim settlement, related to a customer bankruptcy in fiscal 2018.


(2)	Fiscal 2019 includes a $0.7 million reversal of retail store restructuring costs previously recorded in fiscal 2017


(3)	Fiscal 2018 includes insurance recovery of approximately $0.4 million associated with unusual storm-related store closures in 2017. Fiscal 2017 includes approximately $2.7 million of expenses related to store restructuring and approximately $12.7 million for provisions for special employee compensation.


(4)	Includes approximately $12.8 million of charges, partially offset by a $1.9 million recovery claim settlement, related to a customer bankruptcy for fiscal 2018. Fiscal 2017 includes approximately $3.3 million for provisions for special employee compensation.


(5)	Includes $1.2 million of certain costs related to inventory acquired from Skip Hop in operating income between U.S. Wholesale, U.S. Retail, and International for fiscal 2017.

(6)


(7)	Includes expenses related to incentive compensation, stock-based compensation, executive management, severance and relocation, finance, building occupancy, information technology, certain legal fees, consulting, and audit fees.


(8)	Fiscal 2019 includes an impairment of the Company's indefinite-lived Skip Hop tradename asset of $19.1 million, $10.5 million, and $1.2 million recorded to the U.S. Wholesale, International, and U.S. Retail segments, respectively.


(9)	Fiscal 2019 includes $1.6 million in charges related to organizational restructuring.

(10)Includes the following charges for fiscal 2017:



	For the fiscal year ended
(dollars in millions)	December 30, 2017
Provisions for special employee compensation	$	2.9
Adjustment to Skip Hop contingent consideration	$	(3.6	)
Direct sourcing initiative	$	0.3
Acquisition-related costs	$	3.4

Inventory, net, by segment

The table below represents inventory by segment:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019		December 29, 2018
U.S. Wholesale^(*)	$	427,387	$	414,174
U.S. Retail	87,721		96,241
International	78,879		63,811
Total	$	593,987	$	574,226

Consolidated Net Sales by Product

The table below represents consolidated net sales by product:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019		December 29, 2018		December 30, 2017
Baby	$	1,228,905	$	1,239,009	$	1,294,404
Playclothes	1,362,847		1,303,610		1,239,546
Sleepwear	428,541		431,961		426,703
Other^(*)	498,993		487,689		439,851
Total net sales	$	3,519,286	$	3,462,269	$	3,400,504


(*)	Other product offerings include bedding, outerwear, swimwear, shoes, socks, diaper bags, gift sets, toys, and hair accessories.

Property, plant, and equipment, net, by geographic area

The following represents property, plant, and equipment, net, by geographic area:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019		December 29, 2018
United States	$	283,371	$	314,679
International	36,797		35,758
Total	$	320,168	$	350,437

DOCUMENT AND ENTITY INFORMATION - USD ($)	12 Months Ended
DOCUMENT AND ENTITY INFORMATION - USD ($)	Dec. 28, 2019	Feb. 18, 2020	Jun. 29, 2019
Cover page.
Document Type	10-K
Title of 12(b) Security	Common stock, par value $0.01 per share
Document Annual Report	true
Document Period End Date	Dec. 28, 2019
Document Transition Report	false
Entity File Number	001-31829
Entity Registrant Name	CARTER'S, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3912933
Entity Address, Address Line One	Phipps Tower
Entity Address, Address Line Two	3438 Peachtree Road NE, Suite 1800
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30326
City Area Code	678
Local Phone Number	791-1000
Trading Symbol	CRI
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 3,735,935,821
Entity Common Stock, Shares Outstanding		43,928,505
Entity Central Index Key	0001060822
Current Fiscal Year End Date	--12-28
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

LEASES (Tables)

12 Months Ended

Dec. 28, 2019

Leases [Abstract]

Lease, Cost

The following components of lease expense are included in Selling, general and administrative expenses on the Company's consolidated statements of operations for fiscal 2019:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019
Operating lease cost	$	179,982
Variable lease cost ^(*)	63,043
Net lease cost	$	243,025

(*)

Includes short-term leases, which are immaterial.

Lessee, Operating Lease, Liability, Maturity

As of December 28, 2019, the maturities of lease liabilities were as follows:



(dollars in thousands)	Operating leases
2020	$	192,986
2021	175,521
2022	151,436
2023	125,320
2024	100,923
After 2024	195,757
Total lease payments	$	941,943
Less: Interest	(117,343		)
Present value of lease liabilities^(*)	$	824,600

(*)

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. We used the incremental borrowing rate on December 30, 2018, for operating leases that commenced prior to that date.

Schedule of Future Minimum Rental Payments for Operating Leases

Minimum annual rental commitments under non-cancellable operating leases, as of December 29, 2018, substantially all of which relate to leased real estate, were as follows:



Fiscal Year	Operating Leases^(*)
2019	$	163,963
2020	150,010
2021	134,203
2022	116,773
2023	102,487
Thereafter	235,731
Total	$	903,167

(*)

Amounts are based on ASC 840, Leases that were superseded upon our adoption of ASC 842, Leases on December 30, 2018.

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 28, 2019

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

The Company maintains defined contribution plans, a deferred compensation plan, and two defined benefit plans. The two defined benefit plans include the OshKosh B'gosh pension plan and a post-retirement life and medical plan.

Oshkosh B'Gosh Pension Plan

Funded Status

The retirement benefits under the OshKosh B'gosh pension plan were frozen as of December 31, 2005. A reconciliation of changes in the projected pension benefit obligation and plan assets is as follows:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			December 29, 2018
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	62,297		$	66,747
Interest cost	2,432			2,287
Actuarial loss (gain)	6,039			(4,371		)
Benefits paid	(2,437		)	(2,366		)
Projected benefit obligation at end of year	$	68,331		$	62,297

Change in plan assets:
Fair value of plan assets at beginning of year	$	55,564		$	54,437
Actual return on plan assets	8,834			(2,507		)
Employer contribution	—			6,000
Benefits paid	(2,437		)	(2,366		)
Fair value of plan assets at end of year	$	61,961		$	55,564

Unfunded status	$	6,370		$	6,733

The accumulated benefit obligation is equal to the projected benefit obligation as of December 28, 2019 and December 29, 2018 because the plan is frozen. The unfunded status is included in Other long-term liabilities in the Company's consolidated balance sheet. The Company does not expect to make any contributions to the OshKosh B'gosh pension plan during fiscal 2020 as the plan's funding exceeds the minimum funding requirements. The actuarial loss incurred in fiscal 2019 was primarily attributable to a lower discount rate while the actuarial gain in fiscal 2018 was primarily attributable to a higher discount rate.

Net Periodic Pension Cost and Changes Recognized in Other Comprehensive Income

The components of net periodic pension cost recognized in the statement of operations and changes recognized in other comprehensive income were as follows:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			December 29, 2018			December 30, 2017
Recognized in the statement of operations:
Interest cost	$	2,432		$	2,287		$	2,446
Expected return on plan assets	(2,613		)	(2,934		)	(2,601		)
Amortization of net loss^(*)	795			709			681
Net periodic pension cost	$	614		$	62		$	526

Changes recognized in other comprehensive income:
Net (gain) loss arising during the fiscal year	$	(182	)	$	1,070		$	1,251
Amortization of net loss^(*)	(795		)	(709		)	(681		)
Total changes recognized in other comprehensive income	$	(977	)	$	361		$	570
Total net periodic cost and changes recognized in other comprehensive income	$	(363	)	$	423		$	1,096


(*)	Represents pre-tax amounts reclassified from accumulated other comprehensive loss. For fiscal 2020, approximately $0.5 million is expected to be reclassified from accumulated other comprehensive loss to a component of net periodic pension cost.

Assumptions

The actuarial computations utilized the following assumptions, using year-end measurement dates:



Benefit obligation	2019	2018
Discount rate	3.25%	4.00%

Net periodic pension cost	2019	2018	2017
Discount rate	4.00%	3.50%	4.00%
Expected long-term rate of return on assets	5.50%	6.25%	6.00%

The discount rates used at December 28, 2019, December 29, 2018, and December 30, 2017 were determined with consideration given to the Citigroup Pension Discount and Liability Index and the Barclay Capital Aggregate AA Bond Index, adjusted for the timing of expected plan distributions. The Company believes these indexes reflect a risk-free rate consistent with a portfolio of high quality debt instruments with maturities that are comparable to the timing of the expected payments under the plan. The expected long-term rate of return assumption considers historic returns adjusted for changes in overall economic conditions that may affect future returns and a weighting of each investment class.

A 0.25% change in the assumed discount rate would result in an increase or decrease in the amount of the pension plan's projected benefit obligation of approximately $2.2 million.

The Company currently expects benefit payments for its defined benefit pension plans as follows for the next ten fiscal years:



(dollars in thousands)
2020	$	3,030
2021	$	2,700
2022	$	2,840
2023	$	2,950
2024	$	3,160
2025-2029	$	18,430

Plan Assets

The Company's investment strategy is to invest in a well-diversified portfolio consisting of mutual funds or group annuity contracts that minimize concentration of risks by utilizing a variety of asset types, fund strategies, and fund managers. The

target allocation for plan assets is 45% equity securities, 50% bond funds, and 5% real estate investments. The plan expects to gradually reduce its equity exposure.

The Company's investment policy anticipates a rate of return sufficient to fund pension plan benefits while minimizing the risk to the Company of additional funding. Based on actual returns over a long-term basis, the Company believes that a 6.00% annual return on plan assets can be achieved based on the current allocation and investment strategy.

Equity securities primarily include funds invested in large-cap and mid-cap companies, primarily located in the U.S., with a small exposure to international equities. Fixed income securities include funds holding corporate bonds of companies from diverse industries, and U.S. Treasuries. Real estate funds include investments in actively managed mutual funds that invest in real estate.

The fair value of the Company's pension plan assets at December 28, 2019 and December 29, 2018, by asset category, were as follows:



(dollars in thousands)	December 28, 2019						December 29, 2018
Asset category	Total		Level 1		Level 2		Total		Level 1		Level 2
Cash and cash equivalents	$	606	$	606	$	—	$	550	$	550	$	—
Equity securities:
U.S. Large-Cap blend⁽¹⁾	8,673		8,673		—		7,693		7,693		—
U.S. Large-Cap growth	3,905		3,905		—		3,478		3,478		—
U.S. Mid-Cap growth	3,751		3,751		—		3,355		3,355		—
U.S. Small-Cap blend	2,511		2,511		—		2,224		2,224		—
International blend	9,408		9,408		—		8,302		8,302		—
Fixed income securities:
Corporate bonds⁽²⁾	30,051		29,779		272		27,247		27,006		241
Real estate⁽³⁾	3,056		3,056		—		2,715		2,715		—
	$	61,961	$	61,689	$	272	$	55,564	$	55,323	$	241


(1)	This category comprises low-cost equity index funds not actively managed that track the Standard & Poor's 500 Index.


(2)	This category invests in both U.S. Treasuries and mid-term corporate debt from U.S. issuers from diverse industries.


(3)	This category represents an investment in a mutual fund that invests primarily in real estate securities, including common stocks, preferred stock and other equity securities issued by real estate companies.

Post-retirement Life and Medical Plan

Under a defined benefit plan frozen in 1991, the Company offers a comprehensive post-retirement medical plan to current and certain future retirees and their spouses. The Company also offers life insurance to current and certain future retirees. Employee contributions are required as a condition of participation for both medical benefits and life insurance and the Company's liabilities are net of these expected employee contributions.

Accumulated Post-Retirement Benefit Obligation

The following is a reconciliation of the accumulated post-retirement benefit obligation ("APBO") under this plan:



	For the fiscal years ended
(dollars in thousands)	December 28, 2019			December 29, 2018
APBO at beginning of fiscal year	$	3,228		$	3,969
Service cost	21			32
Interest cost	123			123
Actuarial loss (gain)	238			(573		)
Plan participants' contribution	—			1
Benefits paid	(299		)	(324		)
APBO at end of fiscal year	$	3,311		$	3,228

Approximately $3.0 million and $2.9 million of the APBO at the end of fiscal 2019 and 2018, respectively, were classified as other long term liabilities in the Company's consolidated balance sheets.

Net Periodic Post-Retirement (Benefit) Cost and Changes Recognized in Other Comprehensive Income

The components of net periodic post-retirement cost (benefit) recognized in the statement of operations and changes recognized in other comprehensive income were as follows:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			December 29, 2018			December 30, 2017
Recognized in the statement of operations:
Service cost	$	21		$	32		$	30
Interest cost	123			123			137
Amortization of net gain^(*)	(396		)	(289		)	(306		)
Net periodic post-retirement (benefit) cost	$	(252	)	$	(134	)	$	(139	)

Changes recognized in other comprehensive income:
Net loss (gain) arising during the fiscal year	$	238		$	(573	)	$	26
Amortization of net gain^(*)	396			289			306
Total changes recognized in other comprehensive income	$	634		$	(284	)	$	332
Total net periodic cost (benefit) and changes recognized in other comprehensive income	$	382		$	(418	)	$	193


(*)	Represents pre-tax amounts reclassified from accumulated other comprehensive loss. For fiscal 2020, approximately $0.3 million is expected to be reclassified from accumulated other comprehensive loss as a credit to periodic net periodic pension cost.

Assumptions

The actuarial computations utilized the following assumptions, using year-end measurement dates:



Benefit obligation	2019	2018
Discount rate	3.00%	4.00%

Net periodic pension cost	2019	2018	2017
Discount rate	4.00%	3.25%	3.50%

The discount rates used at December 28, 2019, December 29, 2018, and December 30, 2017, were determined with primary consideration given to the Citigroup Pension Discount and Liability Index adjusted for the timing of expected plan distributions. The Company believes this index reflects a risk-free rate with maturities that are comparable to the timing of the expected payments under the plan.

The effects on the Company's plan of all future increases in health care costs are borne primarily by employees; accordingly, increasing medical costs are not expected to have any material effect on the Company's future financial results.

The Company's contribution for these post-retirement benefit obligations was approximately $0.3 million in fiscal year 2019, $0.3 million in fiscal year 2018, and $0.3 million in fiscal year 2017. The Company expects that its contribution and benefit payments for post-retirement benefit obligations will be approximately $0.3 million for fiscal years 2020, 2021, 2022, 2023, and 2024. For the five years subsequent to fiscal 2024, the aggregate contributions and benefit payments for post-retirement benefit obligations is expected to be approximately $1.0 million. The Company does not pre-fund this plan and as a result there are no plan assets.

Deferred Compensation Plan

The Company maintains a deferred compensation plan allowing voluntary salary and incentive compensation deferrals for qualifying employees as permitted by the Internal Revenue Code. Participant deferrals earn investment returns based on a select number of investment options, including equity, debt, and real estate mutual funds. The Company invests comparable amounts in marketable securities to mitigate the risk associated with the investment return on the employee deferrals.

Defined Contribution Plan

The Company also sponsors defined contribution savings plans in the United States and Canada. The U.S. plan covers employees who are at least 21 years of age and have completed one calendar month of service and, if part-time, work a minimum of one thousand hours of service within the one-year period following the commencement of employment or during any subsequent calendar year. The plan provides for a discretionary employer match. The Company's expense for the U.S. defined contribution savings plan totaled approximately $8.0 million, $8.0 million, and $13.9 million for the fiscal years ended December 28, 2019, December 29, 2018, and December 30, 2017, respectively. Expenses related to the Canadian defined contribution savings plan were approximately $0.1 million in fiscal year 2019, $0.1 million in fiscal year 2018, and $0.3 million in fiscal year 2017.

STOCK-BASED COMPENSATION (Non-Management Board Directors) (Details) - USD ($)	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value per share	$ 89.55
Aggregate value			$ 1,171,000
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from Issuance of Common Stock	$ 0
Number of shares issued	16,097	10,971	13,860
Fair value per share	$ 91.63	$ 109.67	$ 84.46
Aggregate value	$ 1,475,000	$ 1,203,000	$ 1,171,000

FAIR VALUE MEASUREMENTS Borrowings (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Dec. 29, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, BS	$ 594,672	$ 593,264
Senior notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	538,400
Long-term debt, BS	$ 500,000

- Definition

+ References + Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 28, 2019	Dec. 29, 2018
Statement of Financial Position [Abstract]
Preferred stock; par value (USD per share)	$ 0.01	$ 0.01
Preferred stock; shares authorized	100,000	100,000
Preferred stock; issued	0	0
Preferred stock; outstanding	0	0
Common stock, voting; par value (USD per share)	$ 0.01	$ 0.01
Common stock, voting; shares authorized	150,000,000	150,000,000
Common stock voting; shares issued	43,963,103	45,629,014
Common stock voting; shares outstanding	43,963,103	45,629,014

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Cash flows from operating activities:
Net income	$ 263,802	$ 282,068	$ 302,848
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant, and equipment	92,207	85,936	81,796
Amortization of intangible assets	3,747	3,717	2,616
Intangible asset impairment	30,800	0	0
Adjustment and accretion of contingent considerations	0	0	(3,600)
Amortization of debt issuance costs	1,437	1,746	1,572
Stock-based compensation expense	16,529	14,673	17,549
Unrealized foreign currency exchange (gain) loss, net	(564)	271	(624)
(Recoveries of) provisions for doubtful accounts receivable from customers	(220)	15,801	4,663
Loss on disposal of property, plant, and equipment, net of recoveries	452	995	1,572
Loss on extinguishment of debt	7,823	0	0
Deferred income taxes	(13,300)	(1,018)	(54,936)
Effect of changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	8,121	(34,448)	(22,709)
Finished goods inventories	(16,683)	(30,646)	(20,922)
Prepaid expenses and other assets	(699,036)	12,121	(21,791)
Accounts payable and other liabilities	692,100	4,982	41,587
Net cash provided by operating activities	387,215	356,198	329,621
Cash flows from investing activities:
Capital expenditures	(61,419)	(63,783)	(69,473)
Acquisitions of businesses, net of cash acquired	0	96	(158,457)
Disposals and recoveries from property, plant, and equipment	749	380	15
Net cash used in investing activities	(60,670)	(63,307)	(227,915)
Cash flows from financing activities:
Proceeds from senior notes due 2027	500,000	0	0
Payment of senior notes due 2021	(400,000)	0	0
Premiums paid to extinguish debt	(5,252)	0	0
Payments of debt issuance costs	(5,793)	(968)	(2,119)
Borrowings under secured revolving credit facility	265,000	290,000	200,000
Payments on secured revolving credit facility	(361,000)	(315,000)	(163,965)
Repurchases of common stock	(196,910)	(193,028)	(188,762)
Dividends paid	(89,591)	(83,717)	(70,914)
Withholdings of taxes from vesting of restricted stock	(4,328)	(6,830)	(5,753)
Proceeds from exercises of stock options	14,490	10,597	8,438
Net cash used in financing activities	(283,384)	(298,946)	(223,075)
Net effect of exchange rate changes on cash and cash equivalents	1,073	(2,362)	505
Net increase (decrease) in cash and cash equivalents	44,234	(8,417)	(120,864)
Cash and cash equivalents, beginning of fiscal year	170,077	178,494	299,358
Cash and cash equivalents, end of fiscal year	$ 214,311	$ 170,077	$ 178,494

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 28, 2019

Retirement Benefits [Abstract]

Reconciliation of changes in the projected pension benefit obligation and plan assets

A reconciliation of changes in the projected pension benefit obligation and plan assets is as follows:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			December 29, 2018
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	62,297		$	66,747
Interest cost	2,432			2,287
Actuarial loss (gain)	6,039			(4,371		)
Benefits paid	(2,437		)	(2,366		)
Projected benefit obligation at end of year	$	68,331		$	62,297

Change in plan assets:
Fair value of plan assets at beginning of year	$	55,564		$	54,437
Actual return on plan assets	8,834			(2,507		)
Employer contribution	—			6,000
Benefits paid	(2,437		)	(2,366		)
Fair value of plan assets at end of year	$	61,961		$	55,564

Unfunded status	$	6,370		$	6,733

Components of post retirement benefit expense and pension expense

The components of net periodic pension cost recognized in the statement of operations and changes recognized in other comprehensive income were as follows:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			December 29, 2018			December 30, 2017
Recognized in the statement of operations:
Interest cost	$	2,432		$	2,287		$	2,446
Expected return on plan assets	(2,613		)	(2,934		)	(2,601		)
Amortization of net loss^(*)	795			709			681
Net periodic pension cost	$	614		$	62		$	526

Changes recognized in other comprehensive income:
Net (gain) loss arising during the fiscal year	$	(182	)	$	1,070		$	1,251
Amortization of net loss^(*)	(795		)	(709		)	(681		)
Total changes recognized in other comprehensive income	$	(977	)	$	361		$	570
Total net periodic cost and changes recognized in other comprehensive income	$	(363	)	$	423		$	1,096

(*)

Represents pre-tax amounts reclassified from accumulated other comprehensive loss. For fiscal 2020, approximately $0.5 million is expected to be reclassified from accumulated other comprehensive loss to a component of net periodic pension cost.

The components of net periodic post-retirement cost (benefit) recognized in the statement of operations and changes recognized in other comprehensive income were as follows:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019			December 29, 2018			December 30, 2017
Recognized in the statement of operations:
Service cost	$	21		$	32		$	30
Interest cost	123			123			137
Amortization of net gain^(*)	(396		)	(289		)	(306		)
Net periodic post-retirement (benefit) cost	$	(252	)	$	(134	)	$	(139	)

Changes recognized in other comprehensive income:
Net loss (gain) arising during the fiscal year	$	238		$	(573	)	$	26
Amortization of net gain^(*)	396			289			306
Total changes recognized in other comprehensive income	$	634		$	(284	)	$	332
Total net periodic cost (benefit) and changes recognized in other comprehensive income	$	382		$	(418	)	$	193

(*)

Represents pre-tax amounts reclassified from accumulated other comprehensive loss. For fiscal 2020, approximately $0.3 million is expected to be reclassified from accumulated other comprehensive loss as a credit to periodic net periodic pension cost.

Schedule of assumptions used in actuarial computations

The actuarial computations utilized the following assumptions, using year-end measurement dates:



Benefit obligation	2019	2018
Discount rate	3.00%	4.00%

Net periodic pension cost	2019	2018	2017
Discount rate	4.00%	3.25%	3.50%

The actuarial computations utilized the following assumptions, using year-end measurement dates:



Benefit obligation	2019	2018
Discount rate	3.25%	4.00%

Net periodic pension cost	2019	2018	2017
Discount rate	4.00%	3.50%	4.00%
Expected long-term rate of return on assets	5.50%	6.25%	6.00%

Fair value of the Company's pension plan assets by category

The fair value of the Company's pension plan assets at December 28, 2019 and December 29, 2018, by asset category, were as follows:



(dollars in thousands)	December 28, 2019						December 29, 2018
Asset category	Total		Level 1		Level 2		Total		Level 1		Level 2
Cash and cash equivalents	$	606	$	606	$	—	$	550	$	550	$	—
Equity securities:
U.S. Large-Cap blend⁽¹⁾	8,673		8,673		—		7,693		7,693		—
U.S. Large-Cap growth	3,905		3,905		—		3,478		3,478		—
U.S. Mid-Cap growth	3,751		3,751		—		3,355		3,355		—
U.S. Small-Cap blend	2,511		2,511		—		2,224		2,224		—
International blend	9,408		9,408		—		8,302		8,302		—
Fixed income securities:
Corporate bonds⁽²⁾	30,051		29,779		272		27,247		27,006		241
Real estate⁽³⁾	3,056		3,056		—		2,715		2,715		—
	$	61,961	$	61,689	$	272	$	55,564	$	55,323	$	241


(1)	This category comprises low-cost equity index funds not actively managed that track the Standard & Poor's 500 Index.


(2)	This category invests in both U.S. Treasuries and mid-term corporate debt from U.S. issuers from diverse industries.

(3)

This category represents an investment in a mutual fund that invests primarily in real estate securities, including common stocks, preferred stock and other equity securities issued by real estate companies.

Reconciliation of accumulated post retirement benefit obligation

The following is a reconciliation of the accumulated post-retirement benefit obligation ("APBO") under this plan:



	For the fiscal years ended
(dollars in thousands)	December 28, 2019			December 29, 2018
APBO at beginning of fiscal year	$	3,228		$	3,969
Service cost	21			32
Interest cost	123			123
Actuarial loss (gain)	238			(573		)
Plan participants' contribution	—			1
Benefits paid	(299		)	(324		)
APBO at end of fiscal year	$	3,311		$	3,228

OTHER CURRENT AND LONG-TERM LIABILITIES

12 Months Ended

Dec. 28, 2019

Other Liabilities Disclosure [Abstract]

OTHER CURRENT AND LONG-TERM LIABILITIES

Other current liabilities that exceeded five percent of total current liabilities (at the end of either fiscal year) consisted of the following:



(dollars in thousands)	December 28, 2019		December 29, 2018
Accrued employee benefits	$	16,556	$	16,421
Accrued and deferred rent	$	311	$	19,120
Income taxes payable	$	23,269	$	17,415

Other long-term liabilities that exceeded five percent of total liabilities (at the end of either fiscal year) consisted of the following:



(dollars in thousands)	December 28, 2019		December 29, 2018
Deferred lease incentives	$	—	$	72,345

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 28, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The estimated amortization expense for the next five fiscal years is as follows:



(dollars in thousands)	Amortization expense
2020	$	3,754
2021	$	3,754
2022	$	3,754
2023	$	3,712
2024	$	3,682

Intangible assets table

The following table summarizes the Company's goodwill and other intangible assets at the end of the fiscal year:



		December 28, 2019						December 29, 2018
(dollars in thousands)	Weighted-average useful life	Gross amount		Accumulated amortization		Net amount		Gross amount		Accumulated amortization		Net amount
Carter's goodwill⁽¹⁾	Indefinite	$	136,570	$	—	$	136,570	$	136,570	$	—	$	136,570
Canada goodwill⁽²⁾	Indefinite	40,524		—		40,524		38,869		—		38,869
Skip Hop goodwill⁽³⁾	Indefinite	45,978		—		45,978		45,960		—		45,960
Carter's Mexico goodwill⁽⁴⁾	Indefinite	5,954		—		5,954		5,702		—		5,702
Total goodwill		$	229,026	$	—	$	229,026	$	227,101	$	—	$	227,101

Carter's tradename	Indefinite	$	220,233	$	—	$	220,233	$	220,233	$	—	$	220,233
OshKosh tradename	Indefinite	85,500		—		85,500		85,500		—		85,500
Skip Hop tradename⁽⁵⁾	Indefinite	26,000		—		26,000		56,800		—		56,800
Finite-life tradenames	5 - 20 years	3,911		1,002		2,909		3,911		752		3,159
Total tradenames, net		$	335,644	$	1,002	$	334,642	$	366,444	$	752	$	365,692

Skip Hop customer relationships	15 years	$	47,300	$	8,657	$	38,643	$	47,300	$	5,480	$	41,820
Carter's Mexico customer relationships	10 years	3,258		775		2,483		3,146		455		2,691
Total customer relationships, net		$	50,558	$	9,432	$	41,126	$	50,446	$	5,935	$	44,511

LONG-TERM DEBT

12 Months Ended

Dec. 28, 2019

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consisted of the following:



(dollars in thousands)	December 28, 2019			December 29, 2018
Senior notes	$	500,000		$	400,000
Less: unamortized issuance-related costs for senior notes	(5,328		)	(2,736		)
Senior notes, net	$	494,672		$	397,264
Secured revolving credit facility	100,000			196,000
Total long-term debt, net	$	594,672		$	593,264

Senior Notes

On March 14, 2019, the Company's wholly-owned subsidiary, TWCC redeemed $400 million principal amount of senior notes, bearing interest at a rate of 5.25% per annum, and maturing on August 15, 2021, pursuant to the optional redemption provisions of the notes, which required that TWCC pay the outstanding principal plus accrued interest and an early redemption premium of 1.31% of the outstanding principal amounts of the senior notes. This debt redemption resulted in a loss on extinguishment of debt of $7.8 million, consisting of $5.2 million of early redemption premiums and $2.6 million of unamortized debt issuance costs.

Concurrently, TWCC issued $500 million principal amount of senior notes at par, bearing interest at a rate of 5.625% per annum, and maturing on March 15, 2027. TWCC received net proceeds from the offering of the senior notes of approximately $494.8 million, after deducting underwriting fees and other expenses, which TWCC used to redeem the senior notes discussed above and repay borrowings outstanding under the Company's secured revolving credit facility. Approximately $5.8 million, including both bank fees and other third party expenses, was capitalized in connection with the issuance and is being amortized over the term of the senior notes.

The senior notes are unsecured and are fully and unconditionally guaranteed by Carter's, Inc. and certain domestic subsidiaries of TWCC. The guarantor subsidiaries are 100% owned directly or indirectly by Carter's, Inc. and all guarantees are joint, several and unconditional.

On and after March 15, 2022, TWCC may redeem all or part of the senior notes at the redemption prices (expressed as percentages of principal amount of the senior notes to be redeemed) set forth below, plus accrued and unpaid interest. The redemption price is applicable when the redemption occurs during the twelve-month period beginning on March 15 of each of the years indicated is as follows:



Year	Percentage
2022	102.81	%
2023	101.41	%
2024 and thereafter	100.00	%

The indenture governing the senior notes provides that upon the occurrence of specific kinds of changes of control, unless a redemption notice with respect to all the outstanding senior notes has previously or concurrently been mailed or delivered, TWCC will be required to make an offer to purchase the senior notes at 101% of their principal amount, plus accrued and unpaid interest to (but excluding) the date of purchase.

The indenture governing the senior notes includes a number of covenants, that, among other things and subject to certain exceptions, restrict TWCC's ability and the ability of certain of its subsidiaries to: (a) incur certain types of indebtedness that is secured by a lien; (b) enter into certain sale and leaseback transactions; and (c) consolidate or merge with or into, or sell substantially all of the issuer's assets to, another person, under certain circumstances. Terms of the notes contain customary affirmative covenants and provide for events of default which, if certain of them occur, would permit the trustee or the holders of at least 25% in principal amount of the then total outstanding senior notes to declare all amounts owning under the notes to be due and payable. Carter's, Inc. is not subject to these covenants.

Secured Revolving Credit Facility

On August 25, 2017, TWCC and the syndicate of lenders entered into a fourth amended and restated secured revolving credit agreement. This amendment to the secured revolving credit facility provided: (a) an extension of the term of the facility to August 25, 2022 and (b) an increase in the aggregate credit line to $750 million which includes a $650 million U.S. dollar facility and a $100 million multicurrency facility denominated in U.S. dollars, Canadian dollars, Euros, Pounds Sterling, or other currencies agreed to by the applicable lenders. The $650 million U.S. dollar facility is inclusive of a $100 million sub-limit for letters of credit and a swing line sub-limit of $70 million. The $100 million multicurrency facility is inclusive of a $40 million sub-limit for letters of credit and a swing line sub-limit of $15 million. In addition, the secured revolving credit facility provides for incremental borrowing facilities up to $425 million, which are comprised of an incremental $350 million U.S. dollar revolving credit facility and an incremental $75 million multicurrency revolving credit facility. The incremental U.S. dollar revolving credit facility can increase to an unlimited borrowing amount so long as the consolidated first lien leverage ratio (as defined in the secured revolving credit facility) does not exceed 2.25:1.00.

On September 21, 2018, TWCC and a syndicate of lenders entered into Amendment No. 1 to its fourth amended and restated credit agreement that, among other things, extended the term of the facility from August 25, 2022 to September 21, 2023.

Under the secured revolving credit facility, TWCC and its domestic subsidiaries have granted to the collateral agent, for the benefit of the lenders, valid and perfected first priority security interests in substantially all of their present and future assets, excluding certain customary exceptions, and guarantee the obligations of the borrowers. In addition, The Genuine Canadian Corp., as Canadian borrower, and Carter's Holdings B.V., as Dutch borrower, have each guaranteed the obligations of the other.

As of December 28, 2019 and December 29, 2018, the Company had $100.0 million and $196.0 million in outstanding borrowings under its secured revolving credit facility, respectively, exclusive of $5.0 million and $5.0 million of outstanding letters of credit, respectively. As of December 28, 2019 and December 29, 2018, there was approximately $645.0 million and $549.0 million available for future borrowing, respectively.

As of December 28, 2019, the interest rate margins applicable to the amended revolving credit facility were 1.625% for LIBOR (London Interbank Offered Rate) rate loans (which may be adjusted based on a leverage-based pricing grid ranging from 1.125% to 1.875%) and 0.625% for base rate loans (which may be adjusted based on a leverage-based pricing grid ranging from 0.125% to 0.875%).

As of December 28, 2019 and December 29, 2018, U.S. dollar borrowings outstanding under the secured revolving credit facility accrued interest at a LIBOR rate plus the applicable base rate, which resulted in a weighted-average borrowing rate of 3.42% and 4.11%, respectively. There were no Canadian borrowings outstanding on December 28, 2019 or December 29, 2018.

Covenants

Subject to certain customary exceptions, the amended revolving credit facility contains covenants that restrict the Company's ability to, among other things: (i) create or incur liens, debt, guarantees or other investments, (ii) engage in mergers and consolidations, (iii) pay dividends or other distributions to, and redemptions and repurchases from, equity holders, (iv) prepay, redeem or repurchase subordinated or junior debt, (v) amend organizational documents, and (vi) engage in certain transactions with affiliates.

The amended revolving credit facility also contains financial covenants. Specifically, TWCC and its subsidiaries will not (i) permit at the end of any four consecutive fiscal quarters the Lease Adjusted Leverage Ratio (defined as, with certain adjustments, the ratio of the Company's consolidated indebtedness plus six times rent expense, as defined, to consolidated net income before interest, taxes, depreciation, amortization, and rent expense ("EBITDAR")) to exceed 4.00:1.00 (provided, however, that if any "Material Acquisition" occurs and the Lease Adjusted Leverage Ratio on a pro forma basis giving effect to the consummation of the Material Acquisition is less than 4.00:1.00, then the maximum Lease Adjusted Leverage Ratio may be increased to 4.50:1.00 for the fiscal quarter in which such Material Acquisition is consummated and the three fiscal quarters immediately following the fiscal quarter in which such Material Acquisition occurs) or (ii) permit at the end of any four consecutive fiscal quarters the Consolidated Fixed Charge Coverage Ratio (defined as, with certain adjustments, the ratio of consolidated EBITDAR to consolidated fixed charges (defined as interest plus rent expense)), for any such period to be less than 2.25:1.00 (provided, however, that if any Material Acquisition occurs and the Consolidated Fixed Charge Coverage Ratio on a pro forma basis giving effect to the consummation of the Material Acquisition is at least 2.25:1.00, then the minimum Consolidated Fixed Charge Coverage Ratio may be decreased to 2.00:1.00 for the fiscal quarter in which such Material Acquisition is consummated and the three fiscal quarters immediately following the fiscal quarter in which such Material Acquisition occurs).

The amended revolving credit facility also provides that certain covenants fall away and that the liens over the collateral securing each of the Company and certain subsidiaries' collective obligations are released following, among other things, the achievement of, and during the maintenance of, investment grade ratings by Moody's Investor Services, Inc. and Standard & Poor's Ratings Services.

As of December 28, 2019, the Company was in compliance with its financial debt covenants under the secured revolving credit facility.

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 28, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is subject to various claims and pending or threatened lawsuits in the normal course of business. The Company is not currently a party to any legal proceedings that it believes would have a material adverse effect on its financial position, results of operations, or cash flows. The Company's contractual obligations and commitments also include obligations associated with leases, the secured revolving credit agreement, senior notes, employee benefit plans, and facility consolidations/closures as disclosed elsewhere in the notes to the consolidated financial statements.

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

12 Months Ended

Dec. 28, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

Accumulated other comprehensive (loss) income is summarized as follows:



(dollars in thousands)	Pension liability adjustments			Post-retirement liability adjustments			Cumulative translation adjustments			Accumulated other comprehensive (loss) income
Balance at December 31, 2016	$	(8,851	)	$	1,735		$	(27,624	)	$	(34,740	)
Fiscal year 2017 change	(430		)	(262		)	6,339			5,647
Balance at December 30, 2017	(9,281		)	1,473			(21,285		)	(29,093		)
Fiscal year 2018 change	(281		)	214			(11,679		)	(11,746		)
Balance at December 29, 2018	(9,562		)	1,687			(32,964		)	(40,839		)
Reclassification of tax effects^(*)	(1,880		)	380			—			(1,500		)
Fiscal year 2019 change	746			(483		)	6,442			6,705
Balance at December 28, 2019	$	(10,696	)	$	1,584		$	(26,522	)	$	(35,634	)


(*)	In fiscal 2019, the Company reclassified $1.5 million of tax benefits from accumulated other comprehensive loss to retained earnings for the tax effects resulting from the December 22, 2017 enactment of the Tax Cut and Jobs Act in accordance with the adoption of ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.

As of December 28, 2019 and December 29, 2018, the cumulative tax effect on the pension liability adjustments were $3.3 million and $5.4 million, respectively. As of December 28, 2019 and December 29, 2018, the cumulative tax effect on the post-retirement liability adjustments were approximately $0.5 million and $1.0 million, respectively.

For the fiscal years ended December 28, 2019 and December 29, 2018, amounts reclassified from accumulated other comprehensive loss to the consolidated statements of operations consisted of amortization of actuarial gains and losses related to the Company's defined benefit retirement plans. Such amortization amounts are included in the net periodic cost or benefit recognized for these plans during the respective fiscal year. For additional information, see Note 12, Employee Benefit Plans, to the consolidated financial statements.

EARNINGS PER SHARE

12 Months Ended

Dec. 28, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The following is a reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding:



	For the fiscal year ended
	December 28, 2019			December 29, 2018			December 30, 2017
Weighted-average number of common and common equivalent shares outstanding:
Basic number of common shares outstanding	44,402,438			46,160,935			47,593,211
Dilutive effect of equity awards	305,514			487,485			552,864
Diluted number of common and common equivalent shares outstanding	44,707,952			46,648,420			48,146,075
Earnings per share:
(dollars in thousands, except per share data)
Basic net income per common share:
Net income	$	263,802		$	282,068		$	302,848
Income allocated to participating securities	(2,430		)	(2,148		)	(2,407		)
Net income available to common shareholders	$	261,372		$	279,920		$	300,441
Basic net income per common share	$	5.89		$	6.06		$	6.31

Diluted net income per common share:
Net income	$	263,802		$	282,068		$	302,848
Income allocated to participating securities	(2,419		)	(2,132		)	(2,386		)
Net income available to common shareholders	$	261,383		$	279,936		$	300,462
Diluted net income per common share	$	5.85		$	6.00		$	6.24

Anti-dilutive shares excluded from dilutive earnings per share calculations⁽¹⁾	351,777			289,839			629,944


(1)	The volume of antidilutive shares is, in part, due to the related unamortized compensation costs.

The Company grants shares of its common stock in the form of restricted stock awards to certain key employees under the Company's Amended and Restated Equity Incentive Plan (see Note 11, Stock-based Compensation, to the consolidated financial statements). Prior to vesting of the restricted stock awards, the grant recipients are entitled to receive non-forfeitable cash dividends if the Company's Board of Directors declares and pays dividends on the Company's common stock. Accordingly, unvested shares of the Company's restricted stock awards are deemed to be participating securities for purposes of computing diluted earnings per share (EPS), and therefore the Company's diluted EPS represents the lower of the amounts calculated under the treasury stock method or the two-class method of calculating diluted EPS.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Net sales	$ 3,519,286	$ 3,462,269	$ 3,400,504
Cost of goods sold	2,010,736	1,964,786	1,917,150
Gross profit	1,508,550	1,497,483	1,483,354
Selling, general, and administrative expenses	1,140,515	1,144,980	1,106,928
Intangible asset impairment	30,800	0	0
Operating income	371,872	391,433	419,607
Interest expense	37,617	34,569	30,044
Interest income	(1,303)	(527)	(345)
Other (income) expense, net	(217)	1,416	(1,164)
Loss on extinguishment of debt	7,823	0	0
Income before income taxes	327,952	355,975	391,072
Provision for income taxes	64,150	73,907	88,224
Net income	$ 263,802	$ 282,068	$ 302,848
Basic net income per common share	$ 5.89	$ 6.06	$ 6.31
Diluted net income per common share	5.85	6.00	6.24
Dividend declared and paid per common share	$ 2.00	$ 1.80	$ 1.48
Royalty [Member]
Net sales	$ 34,637	$ 38,930	$ 43,181

LEASES Operating lease term of contract (Details)	12 Months Ended
LEASES Operating lease term of contract (Details)	Dec. 28, 2019
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee Operating Remaining Lease Term	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Option to Extend	P5Y
Lessee Operating Remaining Lease Term	20 years

STOCK-BASED COMPENSATION (Weighted-Average Assumptions) (Details) - Stock options - $ / shares	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Volatility	0.00%	22.93%	26.20%
Risk-free interest rate	0.00%	2.75%	2.06%
Expected term (years)	0 years	6 years	6 years
Dividend yield	0.00%	1.47%	1.77%
Weighted average fair value of options granted	$ 0	$ 27.36	$ 19.57

COMMON STOCK (Accelerated Share Repurchase Program) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Accelerated Share Repurchases [Line Items]
Remaining capacity under authorization	$ 195.7
Stock Repurchased During Period, Shares	2,107,472	1,879,529	2,103,401

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 28, 2019

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Under the Company's Amended and Restated Equity Incentive Plan (the "Plan"), the Compensation Committee of the Board of Directors may award incentive stock options, stock appreciation rights, restricted stock, unrestricted stock, stock deliverable on a deferred basis (including restricted stock units), and performance-based stock awards.

At the Company's May 17, 2018 shareholders' meeting, the shareholders approved an amendment to the Plan to increase the maximum number of shares of stock available under the Plan by 3,000,000 shares from a cumulative total of 15,778,392 shares to 18,778,392 shares. As of December 28, 2019, there were 3,430,375 remaining shares available for grant under the Plan. The Plan makes provision for the treatment of awards upon termination of service or in the case of a merger or similar corporate transaction. Participation in the Plan is limited to members of the Company's board of directors, executive officers and other key employees.

The limit on shares available under the Plan, the individual limits, and other award terms are subject to adjustment to reflect stock splits or stock dividends, combinations, and certain other events. All stock options issued under the Plan expire no later than ten years from the date of grant. The Company believes that the current level of authorized shares is sufficient to satisfy future grants for the foreseeable future.

The Company recorded stock-based compensation cost as follows:



	For the fiscal years ended
(dollars in thousands)	December 28, 2019		December 29, 2018		December 30, 2017
Stock options	$	4,070	$	4,788	$	4,244
Restricted stock:
Time-based awards	9,432		7,938		7,532
Performance-based awards	1,552		744		4,602
Stock awards	1,475		1,203		1,171
Total	$	16,529	$	14,673	$	17,549

The Company recognizes compensation cost ratably over the applicable performance periods based on the estimated probability of achievement of its performance targets at the end of each period. During fiscal 2019, the Company revised the estimated achievement of performance targets related to certain performance-based grants resulting in a $1.4 million reduction to stock compensation expense.

Stock Options

Stock options vest in equal annual installments over a four-year period. The Company issues new shares to satisfy stock option exercises.

Changes in the Company's stock options for the fiscal year ended December 28, 2019 were as follows:



	Number of shares		Weighted- average exercise price		Weighted-average remaining contractual terms (years)	Aggregate intrinsic value (in thousands)
Outstanding, December 29, 2018	1,447,141		$	74.55

Granted^(*)	—		$	—
Exercised	(274,960	)	$	52.70
Forfeited	(38,340	)	$	100.78
Expired	(5,234	)	$	116.42
Outstanding, December 28, 2019	1,128,607		$	78.78	5.39	$	37,343

Vested and expected to vest, December 28, 2019	1,100,020		$	78.10	5.33	$	37,067
Exercisable, December 28, 2019	786,542		$	68.88	4.45	$	32,898


(*)	The Company did not grant any stock options in fiscal 2019.

The intrinsic value of stock options exercised during the fiscal years ended December 28, 2019, December 29, 2018, and December 30, 2017 was approximately $13.3 million, $16.6 million, and $14.9 million, respectively. At December 28, 2019, there was approximately $4.6 million of unrecognized compensation cost (net of estimated forfeitures) related to stock options which is expected to be recognized over a weighted-average period of approximately 1.8 years.

The table below presents the weighted-average assumptions used to calculate the fair value of options granted in each of the respective fiscal years:



	For the fiscal years ended
	December 28, 2019^(*)			December 29, 2018			December 30, 2017
Expected volatility	—		%	22.93		%	26.20		%
Risk-free interest rate	—		%	2.75		%	2.06		%
Expected term (years)	0			6.0			6.0
Dividend yield	—		%	1.47		%	1.77		%
Weighted average fair value of options granted	$	—		$	27.36		$	19.57


(*)	There were no stock options granted in fiscal 2019.

Restricted Stock Awards

Restricted stock awards issued under the Plan vest based upon: 1) continued service (time-based) or 2) a combination of continued service and performance targets (performance-based).

The following table summarizes activity related to all restricted stock awards during the fiscal year ended December 28, 2019:



	Restricted stock awards		Weighted-average grant-date fair value
Outstanding, December 29, 2018	374,008		$	97.57
Granted	266,635		$	89.55
Vested	(131,924	)	$	93.03
Forfeited	(50,219	)	$	94.21
Outstanding, December 28, 2019	458,500		$	94.58

During fiscal 2018, a total of 151,321 shares of restricted stock vested with a weighted-average fair value of $84.56 per share. During fiscal 2017, a total of 168,471 shares of restricted stock vested with a weighted-average fair value of $74.00 per share. At December 28, 2019, there was approximately $20.8 million of unrecognized compensation cost (net of estimated forfeitures) related to all restricted stock awards which is expected to be recognized over a weighted-average period of approximately 2.6 years.

Time-based Restricted Stock Awards

Time-based restricted stock awards vest in equal annual installments or cliff vest after a three-year or four-year period. During fiscal years 2019, 2018, and 2017, a total of 102,492 shares, 100,625 shares, and 114,703 shares, respectively, of time-based restricted stock vested with a weighted-average fair value of $93.70 per share, $85.64 per share, and $76.58 per share, respectively. At December 28, 2019, there was approximately $18.1 million of unrecognized compensation cost (net of estimated forfeitures) related to time-based restricted stock which is expected to be recognized over a weighted-average period of approximately 2.7 years.

Performance-based Restricted Stock Awards



Fiscal year	Number of shares granted	Weighted-average fair value per share
2017	60,952	$	83.84
2018	45,625	$	120.25
2019	60,700	$	88.87

During the fiscal year ended December 28, 2019, a total of 29,432 performance shares vested with a weighted-average fair value of $90.66 per share. As of December 28, 2019, a total of 154,996 performance shares were unvested with a weighted-average fair value of $95.28 per share. Vesting of these 154,996 performance shares is based on the performance targets for the shares granted in fiscal 2019, 2018, and 2017. As of December 28, 2019, there was approximately $2.7 million of unrecognized compensation cost (net of estimated forfeitures) related to the unvested performance-based restricted stock awards which is expected to be recognized over a weighted-average period of approximately 1.7 years.

Stock Awards

Included in restricted stock awards are grants to non-management members of the Company's Board of Directors. At issuance, these awards were fully vested and issued as shares of the Company's common stock. During fiscal years 2019, 2018, and 2017, such awards were as follows:



Fiscal year	Number of shares issued	Fair value per share		Aggregate value (in thousands)
2017	13,860	$	84.46	$	1,171
2018	10,971	$	109.67	$	1,203
2019	16,097	$	91.63	$	1,475

The Company received no proceeds from the issuance of these shares.

LEASES Supplementary cash flow and other additional lease information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Lessee, Lease, Description [Line Items]
Operating Leases, Rent Expense, Net		$ 165.6	$ 161.9
Operating Lease, Weighted Average Remaining Lease Term	6 years
Operating Lease, Weighted Average Discount Rate, Percent	4.35%
Operating Lease, Payments	$ 193.5
Non-cash transactions to recognize operating assets and liabilities	110.0
Lessee Operating Lease Lease Not yet Commenced Liability Incurred	$ 18.1
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract	2 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract	10 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 28, 2019

Accounting Policies [Abstract]

PRINCIPLES OF CONSOLIDATION

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Carter's, Inc. and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

FISCAL YEAR

Fiscal Year

The Company's fiscal year ends on the Saturday in December or January nearest December 31. Every five or six years, our fiscal year includes an additional, or 53^rd, week of results. Fiscal 2019 ended on December 28, 2019, fiscal 2018 ended on December 29, 2018, and fiscal 2017 ended on December 30, 2017. All three fiscal years contained 52 calendar weeks.

USE OF ESTIMATES IN THE PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS

Use of Estimates in the Preparation of the Consolidated Financial Statements

The preparation of these consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

As disclosed in Note 2, Summary of Significant Accounting Policies, and Note 3, Revenue Recognition, at the beginning of fiscal 2018 the Company adopted the Financial Accounting Standards Board's ("FASB") Accounting Standards Codification ("ASC") No. 606, Revenue from Contracts with Customers, and related amendments ("ASC 606") using the full retrospective adoption method. The full retrospective method required the Company to apply the standard to the financial statements for the period of adoption as well as to each prior reporting period presented.

FOREIGN CURRENCY TRANSLATION AND TRANSACTIONS

Foreign Currency Translation and Transactions

Translation Adjustments

The functional currency of substantially all of the Company's foreign operations is the local currency in each foreign country. Assets and liabilities are translated into U.S. dollars using the current exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the average exchange rates for the period. The resulting translation adjustments are recorded as a component of accumulated other comprehensive income (loss) within the accompanying consolidated balance sheets.

Transaction Adjustments

The Company also recognizes gains and losses on transactions that are denominated in a currency other than the respective entity's functional currency. Foreign currency transaction gains and losses also include intercompany loans with foreign subsidiaries that are of a short-term nature. Foreign currency transaction gains and losses are recognized in earnings, as a separate component of other (income) expense, net, within the consolidated statements of operations.

Foreign Currency Contracts

As part of the Company's overall strategy to manage the level of exposure to the risk of foreign currency exchange rate fluctuations, primarily between the U.S. dollar and the currencies of Canada and Mexico, the Company may use foreign currency forward contracts to hedge purchases that are made in U.S. dollars, primarily for inventory purchases in its Canadian and Mexican operations. As part of this hedging strategy, the Company may use foreign currency forward exchange contracts with maturities of less than 12 months to provide continuing coverage throughout the hedging period. Historically, these contracts were not designated for hedge accounting treatment, and therefore changes in the fair value of these contracts have been recorded in Other (income) expense, net in the Company's consolidated statements of operations. Such foreign currency

gains and losses typically include the mark-to-market fair value adjustments at the end of each reporting period related to open contracts, as well as any realized gains and losses on contracts settled during the reporting period. The fair values of any unsettled currency contracts are included in other current assets or other current liabilities on the Company's consolidated balance sheet. On the consolidated statement of cash flows, the Company includes all activity, including cash settlement of any contracts, as a component of cash flows from operations.

CASH AND CASH EQUIVALENTS

Cash and Cash Equivalents

The Company considers all highly liquid investments that have original maturities of three months or less to be cash equivalents. Cash and cash equivalents consist of deposit accounts and cash management funds invested in U.S. government instruments. These investments are stated at cost, which approximates fair value. Cash equivalents also include amounts due from third-party financial institutions for credit and debit card transactions; these amounts typically settle in less than five days.

Concentration of Cash Deposits Risk

As of December 28, 2019, the Company had approximately $214.3 million of cash and cash equivalents in major financial institutions, including approximately $56.5 million in financial institutions located outside of the United States. The Company maintains cash deposits with major financial institutions that exceed the insurance coverage limits provided by the Federal Deposit Insurance Corporation in the U.S. and by similar insurers for deposits located outside the U.S. To mitigate this risk, the Company utilizes a policy of allocating cash deposits among major financial institutions that have been evaluated by the Company and third-party rating agencies as having acceptable risk profiles.

ACCOUNTS RECEIVABLE

Accounts Receivable

Concentration of Credit Risk

In fiscal 2019, 2018, and 2017, no one customer accounted for 10% or more of the Company's consolidated net sales.

At December 28, 2019, three wholesale customers each had individual receivable balances in excess of 10% of gross accounts receivable, and the total receivable balances due from these three wholesale customers in the aggregate equaled approximately 52% of total gross trade receivables outstanding. At December 29, 2018, three wholesale customers each had individual receivable balances in excess of 10% of gross accounts receivable, and the total receivable balances due from these three wholesale customers in the aggregate equaled approximately 40% of total gross trade receivables outstanding.

Valuation Accounts for Wholesale Accounts Receivable

Accounts Receivable Reserves

The Company's accounts receivable reserves for wholesale customers include an allowance for doubtful accounts and an allowance for chargebacks. The allowance for doubtful accounts includes estimated losses resulting from the inability of our customers to make payments. If the financial condition of a customer were to deteriorate, resulting in an impairment of its ability to make payments, an additional allowance could be required. Past due balances over 90 days are reviewed individually for collectibility. The Company's credit and collections department reviews all other balances regularly. Account balances are charged off against the allowance when it is probable that the receivable will not be recovered. Provisions for the allowance for doubtful accounts are reflected in Selling, general and administrative expenses on the consolidated statement of operations and provisions for chargebacks are reflected as a reduction in Net sales on the consolidated statement of operations.

Sales Returns Reserves

Except in very limited instances, the Company does not allow its wholesale customers to return goods to the Company.

INVENTORIES

Inventories

Inventories, which consist primarily of finished goods, are stated approximately at the lower of cost (first-in, first-out basis for wholesale inventory and average cost for retail inventory) or net realizable value. Obsolete, damaged, and excess inventory is carried at net realizable value by establishing reserves after assessing historical recovery rates, current market conditions, and future marketing and sales plans. Rebates, discounts, and other cash consideration received from a vendor related to inventory purchases are reflected as reductions in the cost of the related inventory item, and are therefore reflected in cost of sales when the related inventory item is sold.

PROPERTY, PLANT, AND EQUIPMENT

Property, Plant, and Equipment

Property, plant, and equipment are stated at cost, less accumulated depreciation and amortization. When fixed assets are sold or otherwise disposed of, the accounts are relieved of the original cost of the assets and the related accumulated depreciation or amortization and any resulting profit or loss is credited or charged to income. For financial reporting purposes, depreciation and amortization are computed on the straight-line method over the estimated useful lives of the assets as follows: buildings and improvements from 15 to 26 years, retail store fixtures, equipment, and computers from 3 to 10 years. Leasehold improvements and fixed assets purchased under capital lease are amortized over the lesser of the asset life or related lease term. The Company

capitalizes the cost of its fixtures designed and purchased for use at major wholesale accounts. The cost of these fixtures is amortized over 3 years.

INTERNAL-USE SOFTWARE

Internal-Use Software

The Company purchases software licenses from external vendors and also develops software internally using Company employees and consultants. Software license costs, including certain costs to internally develop software, that meet the applicable criteria are capitalized while all other costs are expensed as incurred. Capitalized software is depreciated or amortized on the straight-line method over its estimated useful lives, from 3 to 10 years. If a software application does not include a purchased license for the software, such as a cloud-based software application, the arrangement is accounted for as a service contract.

VALUATION OF GOODWILL AND OTHER INTANGIBILE ASSETS

Goodwill and Other Intangible Assets

Annual Impairment Reviews

The carrying values of the goodwill and indefinite-lived tradename assets are subject to annual impairment reviews which are performed as of the last day of each fiscal year. Additionally, a review for potential impairment is performed whenever significant events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Significant assumptions in the impairment models include estimates of revenue growth rates, terminal values, discount rates and, in the case of tradenames, royalty rates.

Goodwill

The Company performs impairment tests of its goodwill at the reporting unit level. Qualitative and quantitative methods are used to assess for impairment, including the use of discounted cash flows ("income approach") and relevant data from guideline public companies ("market approach").

Under a qualitative assessment, the Company determines if it is "more likely than not" that the fair value of the reporting unit is less than its carrying value. Qualitative factors may include, but are not limited to: macroeconomic conditions, industry and market considerations, cost factors that may have a negative effect on earnings, overall financial performance, and other relevant entity-specific events. If the Company determines that it is "more likely than not" that the fair value of the reporting unit is less than its carrying value, then the Company performs the two-step goodwill impairment test as required. If it is determined that it is "not likely" that the fair value of the reporting unit is less than its carrying value, then no further testing is required and the Company documents the relevant qualitative factors that support the strength in the fair value.

The first step of a quantitative assessment is to compare the fair value of the reporting unit to its carrying value, including goodwill. The Company uses a discounted cash flow model to determine the fair value, using assumptions consistent with those of hypothetical marketplace participants. If the fair value of a reporting unit is less than its carrying value, the second step of the impairment test must be performed. The second step compares the implied fair value of the reporting unit goodwill with the carrying value of that goodwill, in order to determine the amount of the impairment loss and charge to the consolidated statement of operations.

Indefinite-lived Tradenames

For indefinite-lived tradenames, the Company may utilize a qualitative assessment, as described above, to determine whether the fair value of an indefinite-lived asset is less than its carrying value. If a quantitative assessment is necessary, the Company determines fair value using a discounted cash flow model that uses the relief-from-royalty method. If the carrying amount exceeds the fair value of the tradename, an impairment charge is recognized in the amount of the excess.

The Company's Skip Hop business has experienced lower than expected actual and projected sales and profitability due to lower domestic demand, including the loss of a significant customer (Toys "R" Us), lower international demand and higher product costs primarily driven by tariffs imposed on products sourced from China. As a result, the Company conducted an interim impairment assessment in the third quarter of fiscal 2019 on the value of the Company's indefinite-lived Skip Hop tradename asset that was recorded in connection with the acquisition of Skip Hop Holdings, Inc. in February 2017. The indefinite-lived tradename asset assessment was performed in accordance with Accounting Standards Codification ("ASC") 350, "Intangibles--Goodwill and Other" and was determined using a discounted cash flow analysis which examined the hypothetical cost savings that accrue as a result of our ownership of the tradename. Based on this assessment, a charge of $19.1 million, $10.5 million, and $1.2 million was recorded on our indefinite-lived Skip Hop tradename asset in the U.S. Wholesale, International, and U.S. Retail segments, respectively, to reflect the impairment of the value ascribed to the indefinite-lived Skip

Hop tradename asset. The carrying value of the Company's indefinite-lived Skip Hop tradename asset after the impairment charge was $26.0 million.

Due to the reduced expected impact from tariffs on Skip Hop's projected operating margins, which led to an increase in the royalty rate assumption, no further impairment to the indefinite-lived Skip Hop tradename asset was necessary as of December 28, 2019. Although the Company determined that no impairment exists, the Company's indefinite-lived Skip Hop tradename asset is at risk for further impairment if the Company is unable to achieve its future sales and earnings projections or if market conditions were to deteriorate.

IMPAIRMENT OF OTHER LONG-LIVED ASSETS

Impairment of Other Long-Lived Assets

The Company reviews other long-lived assets, including property, plant, and equipment, and licensing agreements, for impairment whenever events or changes in circumstances indicate that the carrying amount of such an asset may not be recoverable. Management will determine whether there has been a permanent impairment on such assets held for use in the business by comparing anticipated undiscounted future cash flows from the use and eventual disposition of the asset or asset group to the carrying value of the asset. The amount of any resulting impairment will be calculated by comparing the carrying value to fair value, which may be estimated using the present value of the same cash flows. Long-lived assets that meet the definition of held for sale will be valued at the lower of carrying amount or fair value, less costs to sell.

DEFERRED DEBT ISSUANCE COSTS

Deferred Debt Issuance Costs

Debt issuance costs associated with the Company's secured revolving credit facility and senior term notes are deferred and amortized to interest expense over the term of the related debt using the effective interest method. Debt issuance costs associated with Company's senior notes are presented on the Company's consolidated balance sheet as a direct reduction in the carrying value of the associated debt liability. Fees paid to lenders by the Company to obtain its secured revolving credit facility are included within Other assets on the Company's consolidated balance sheet and classified as either current or non-current based on the expiration date of the credit facility.

FAIR VALUE MEASUREMENTS

Fair Value Measurements

The fair value framework requires the Company to categorize certain assets and liabilities into three levels, based upon the assumptions used to price those assets or liabilities. The three levels are defined as follows:



Level 1:	Quoted prices in active markets for identical assets or liabilities.
Level 2:	Quoted prices for similar assets and liabilities in active markets or inputs that are observable.
Level 3:	Unobservable inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability.

The Company measures its pension assets, deferred compensation plan investment assets, and any unsettled foreign currency forward contracts at fair value. The Company's cash and cash equivalents, accounts receivable, and accounts payable are short-term in nature. As such, their carrying value approximates fair value.

The carrying values of the Company's outstanding borrowings are not required to be remeasured and adjusted to the then-current fair values at the end of each reporting period. Instead, the fair values of the Company's outstanding borrowings are disclosed at the end of each reporting period in Note 9, Long-Term Debt, to the consolidated financial statements. Had the Company been required to remeasure and adjust the carrying values of its outstanding borrowings to fair value at the end of each reporting period, such fair value measurements would have been disclosed as a Level 2 liability in the fair value hierarchy.

REVENUE RECOGNITION

Revenue Recognition

At the beginning of fiscal 2018, the Company adopted the provisions of ASC 606 using the full retrospective adoption method. Refer to Note 3, Revenue Recognition, for additional information.

The Company uses the five-step model to recognize revenue:


1)	Identify the contract with the customer;


2)	Identity the performance obligation(s);


3)	Determine the transaction price;


4)	Allocate the transaction price to each performance obligation if multiple obligations exist; and


5)	Recognize the revenue when the performance obligations are satisfied

Performance Obligations

The Company identifies each distinct performance obligation to transfer goods (or bundle of goods). The Company recognizes revenue when (or as) it satisfies a performance obligation by transferring control of the goods to the customer. Other than inbound and outbound freight and shipping arrangements, the Company does not use third parties to satisfy its performance obligations in revenue arrangements with customers.

When Performance Obligations Are Satisfied

Wholesale Revenues - The Company typically transfers control upon shipment. However, in certain arrangements where the Company retains the risk of loss during shipment, satisfaction of the performance obligation occurs when the goods reach the customer.

Retail Revenues - For transactions in stores, the Company satisfies its performance obligation at point of sale when the customer takes possession of the goods and tenders payment. The redemption of loyalty points under the Company's rewards program and redemptions of gift cards may be part of a transaction. For purchases made through the Company's eCommerce channel, revenue is recognized when the goods are physically delivered to the customer.

The Company satisfies its performance obligations with licensees over time as customers have the right to use the intellectual property over the contract period.

Significant Payment Terms

Retail customers tender a form of payment, such as cash or a credit/debit card, at point of sale. For wholesale customers and licensees, payment is due based on established terms.

Returns and Refunds

The Company establishes return provisions for retail customers. It is the Company's policy not to accept returns from wholesale customers.

Significant Judgments

Sale of Goods - The Company relies on shipping terms to determine when performance obligations are satisfied. When goods are shipped to wholesale customers "FOB Shipping Point," control of the goods is transferred to the customer at the time of shipment if there are no remaining performance obligations. The Company recognizes the revenue once control passes to the customer. For retail transactions, no significant judgments are involved since revenue is recognized at the point of sale when tender is exchanged and the customer receives the goods.

Royalty Revenues - The Company transfers the right-to-use benefit to the licensee for the contract term and therefore the Company satisfies its performance obligation over time. Revenue recognized for each reporting period is based on the greater of: 1) the royalties owed on actual net sales by the licensee and 2) a minimum royalty guarantee, if applicable.

Transaction Price - The transaction price is the amount of consideration the Company expects to receive under the arrangement. The Company is required to estimate variable consideration (if any) and to factor that estimation into the determination of the transaction price. The Company may offer sales incentives to wholesale and retail customers, including discounts. For retail transactions, the Company has significant experience with return patterns and relies on this experience to estimate expected returns when determining the transaction price.

Standalone Selling Prices - For arrangements that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation on a relative standalone selling price basis.

Costs Incurred to Obtain a Contract - Incremental costs to obtain contracts are not material to the Company.

Policy Elections

In addition to those previously disclosed, the Company has made the following accounting policy elections and practical expedients:


•	Portfolio Approach - The Company uses the portfolio approach when multiple contracts or performance obligations are involved in the determination of revenue recognition.


•	Taxes - The Company excludes from the transaction price any taxes collected from customers that are remitted to taxing authorities.


•	Shipping and Handling Charges - Charges that are incurred before and after the customer obtains control of goods are deemed to be fulfillment costs.


•	Time Value of Money - The Company's payment terms are less than one year from the transfer of goods. Therefore, the Company does not adjust promised amounts of consideration for the effects of the time value of money.


•	Disclosure of Remaining Performance Obligations - The Company does not disclose the aggregate amount of the transaction price allocated to remaining performance obligations for contracts that are one year or less in term.

The Company records its cooperative advertising arrangements with certain of its major wholesale customers at fair value. Fair value is determined based upon, among other factors, comparable market analysis for similar advertisements. The Company has included the fair value of these arrangements of approximately $3.1 million for fiscal 2019, $3.0 million for fiscal 2018, and $3.1 million for fiscal 2017 as a component of Selling, general, and administrative expenses on the accompanying consolidated statements of operations, rather than as a reduction of net sales. Amounts determined to be in excess of the fair value of these arrangements are recorded as a reduction of Net sales.

COST OF GOODS SOLD

Costs of Goods Sold and Selling, General and Administrative Expenses

In addition to the cost of product, cost of goods sold include expenses related to the merchandising, design, and procurement of product, including inbound freight costs, purchasing and receiving costs, and inspection costs. Also included in costs of goods sold are the costs of shipping eCommerce product to end consumers. Retail store occupancy costs, distribution expenses, and generally all expenses other than interest and income taxes are included in selling, general, and administrative “SG&A”. Distribution expenses that are included in SG&A primarily consist of payments to third-party shippers and handling costs to process product through our distribution facilities, including eCommerce fulfillment costs, and delivery to our wholesale customers and to our retail stores. Distribution expenses included in SG&A totaled $191.1 million, $188.9 million, and $173.5 million for fiscal years 2019, 2018, and 2017, respectively.

Definitions of gross profit and gross margin vary across the industry and, as such, our metrics may not be comparable to other companies.

ACCOUNTING FOR SHIPPING AND HANDLING FEES AND COSTS

ROYALTIES AND LICENSE FEES

Income from Royalties and License Fees

We license our Carter's, OshKosh, Child of Mine, Just One You, Simple Joys, Precious Firsts, Precious Baby, and Carter's little baby basics, brands to partners to expand our product offerings to include bedding, cribs, diaper bags, footwear, gift sets, hair accessories, jewelry, outerwear, paper goods, socks, shoes, swimwear, and toys. These royalties are recorded as earned, based upon the sales of licensed products by licensees and reported as royalty income in the statements of operations.

ADVERTISING EXPENSES

Advertising Expenses

Costs associated with the production of advertising, such as writing, copy, printing, and other costs, are expensed as incurred. Costs associated with communicating advertising that has been produced, such as magazine costs and eCommerce site banners, are expensed when the advertising event takes place.

STOCK-BASED COMPENSATION ARRANGEMENTS

Stock-Based Compensation Arrangements

The Company recognizes the cost resulting from all stock-based payment transactions in the financial statements at grant date fair value. Stock-based compensation expense is recognized over the requisite service period, net of estimated forfeitures. During the requisite service period, the Company also recognizes a deferred income tax benefit for the expense recognized for U.S. GAAP. At time of subsequent vesting, exercise, forfeiture, or expiration of an award, the difference between the Company's actual income tax deduction, if any, and the previously accrued income tax benefit is recognized in income tax expense/benefit during the current period.

Stock Options

The Company determines the fair value of stock options using the Black-Scholes option pricing model, which requires the use of the following subjective assumptions:


•	Volatility - This is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate. The Company uses actual monthly historical changes in the market value of its stock covering the expected life of options being valued. An increase in the expected volatility will increase the fair value of the stock option and related compensation expense.


•	Risk-free interest rate - This is the U.S. Treasury rate as of the grant date having a term equal to the expected term of the stock option. An increase in the risk-free interest rate will increase the fair value of the stock option and related compensation expense.

•

Expected term - This is the period of time over which the stock options granted are expected to remain outstanding and is based on historical experience and estimated future exercise behavior. Separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. An increase in the expected term will increase the fair value of the stock option and the related compensation expense.


•	Dividend yield - The Company estimates a dividend yield based on the current dividend amount as a percentage of the current stock price. An increase in the dividend yield will decrease the fair value of the stock option and the related compensation expenses.


•	Forfeitures - The Company estimates forfeitures of stock-based awards based on historical experience and expected future activity.

Changes in these subjective assumptions can materially affect the estimate of fair value of stock-based compensation expense and the related amount recognized in the consolidated statements of operations.

Time-Based Restricted Stock Awards

The fair value of time-based restricted stock awards is determined based on the quoted closing price of the Company's common stock on the date of grant and is recognized as compensation expense over the vesting term of the awards, net of estimated forfeitures.

Performance-Based Restricted Stock Awards

The Company accounts for its performance-based restricted stock awards based on the quoted closing price of the Company's common stock on the date of grant and records stock-based compensation expense over the vesting term of the awards based on the probability that the performance criteria will be achieved, net of estimated forfeitures. The Company reassesses the probability of vesting at each reporting period and adjusts stock-based compensation expense based on its probability assessment.

Stock Awards

The fair value of stock granted to non-management board members is determined based on the quoted closing price of the Company's common stock on the date of grant. The Company records the stock-based compensation expense immediately as there are no vesting terms.

INCOME TAXES

Income Taxes

The accompanying consolidated financial statements reflect current and deferred tax provisions, in accordance with ASC 740, Income Taxes. The deferred tax provision is determined under the liability method. Deferred tax assets and liabilities are recognized based on differences between the book and tax basis of assets and liabilities using presently enacted tax rates. Deferred tax assets are a component of non-current Other assets in the Company's consolidated balance sheet. Valuation allowances are established when it is "more likely than not" that a deferred tax asset will not be recovered. The provision for income taxes is the sum of the amount of income taxes paid or payable for the year as determined by applying the provisions of enacted tax laws to the taxable income for that year, the net change during the year in deferred tax assets and liabilities, and the net change during the year in any valuation allowances.

The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon management's evaluation of the facts, circumstances, and information available at the reporting dates. A company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. If it is more likely than not that a tax

position would not be sustained, then no tax benefit would be recognized. Where applicable, associated interest and penalties are also recorded. Interest is recorded as a component of interest expense and penalties, if any, are recorded within the provision for incomes taxes in the consolidated statements of operations and are classified on the consolidated balance sheets with the related liability for uncertain tax contingency liabilities.

For current and deferred tax provisions, ASC 740 requires an entity to account for the effects of new income tax legislation in the same reporting period that the tax legislation is enacted. Recent tax law changes known as the U.S. Tax Cuts and Jobs Act of 2017 (the "2017 Act") were enacted in the United States on December 22, 2017. The 2017 Act, among other things, reduces the United States federal corporate tax rate from 35% to 21%, requires companies to pay a one-time transition tax ("toll tax") on earnings of certain foreign subsidiaries that were previously tax deferred, and creates new taxes on certain foreign sourced earnings. For the 2017 Act, SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act, permitted the Company to calculate and recognize provisional estimates during the period of enactment (fourth quarter of fiscal 2017) for the accounting of the 2017 Act. Subsequent adjustments to provisional estimates were reflected in the Company's income tax provisions/benefits during fiscal 2018. See Note 13, Income Taxes, to the consolidated financial statements.

EARNINGS PER SHARE

Earnings Per Share

The Company calculates basic and diluted net income per common share under the two-class method for unvested share-based payment awards that contain participating rights to dividends or dividend equivalents (whether paid or unpaid).

Basic net income per share is calculated by dividing net income for the period by the weighted-average common shares outstanding for the period. Diluted net income per share includes the effect of dilutive instruments and uses the average share price for the period in determining the number of shares that are to be added to the weighted-average number of shares outstanding.

OPEN MARKET REPURCHASES OF COMMON STOCK

Open Market Repurchases of Common Stock

Shares of the Company's common stock that are repurchased by the Company through open market transactions are retired. Through the end of fiscal 2019, all such open market repurchases have been at prices that exceeded the par value of the repurchased common stock, and the amounts of the purchase prices that exceeded par value were charged to additional paid-in capital or to retained earnings if the balance in additional paid-in capital was not sufficient.

EMPLOYEE BENEFIT PLANS

Employee Benefit Plans

The Company has several defined benefit plans. Various actuarial methods and assumptions are used in determining net pension and post-retirement costs and obligations. Key assumptions include the discount rate used to determine the present value of future benefits and the expected long-term rate of return on plan assets. The over-funded or under-funded status of the defined benefit plans is recorded as an asset or liability on the consolidated balance sheet. Any service costs that arise during the period are presented in the same statement line item as other employee compensation on the consolidated statement of operations. All other components of current period costs related to defined benefit plans, such as prior service costs and actuarial gains and losses, are presented in Other (income) expense, net on the consolidated statement of operations. The actuarial gains or losses that arise during the period are recognized as a component of comprehensive income, net of tax. These costs are then subsequently recognized as components of net periodic benefit cost in the consolidated statements of operations. Under the provisions of ASU No. 2015-04, Practical Expedient for the Measurement Date of an Employer's Defined Benefit Obligation and Plan Assets, the Company is permitted to use December 31 of each year, as opposed to the Company's last day of each fiscal year, as an alternate measurement date for its defined benefit plans.

FACILITY CLOSURE AND OFFICE CONSOLIDATION

Facility Closure and Severance Costs

The Company records severance costs when the appropriate notifications have been made to affected employees or when the decision is made, if the benefits are contractual. When employees are required to work for a period before termination, the severance costs are recognized over the required service period. Relocation and recruitment costs are expensed as incurred. For operating leases, lease termination costs are recognized at fair value at the date the Company ceases to use the leased property. Useful lives assigned to fixed assets at the facility to be closed are revised based on the specifics of the exit plan, resulting in accelerated depreciation expense.

LEASES AND DEFERRED RENT

Leases

At the beginning of fiscal 2019, the Company adopted the provisions of ASC No. 842, Leases ("ASC 842"), using a modified retrospective approach as an optional transition method. This approach allows the Company to apply the standard and related disclosures to the financial statements for the period of adoption and to apply the old guidance in the comparative periods.

The standard had a material impact on our consolidated balance sheets, but did not have a material impact on our consolidated income statements or statement of cash flows. The most significant impact was the recognition of right of use ("ROU") assets and lease liabilities for operating leases. Finance leases are not material to the Company's consolidated balance sheets, consolidated statements of operations or statements of cash flows.

Financial Presentation

The Company determines if an arrangement is a lease at its inception. Operating leases are included in operating lease assets, current operating lease liabilities, and long-term operating lease liabilities in our consolidated balance sheets.

ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

The operating lease ROU asset also includes initial direct costs and excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term.

Certain of our lease agreements include variable rental payments based on a percentage of retail sales over contractual levels and others include variable rental payments adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Policy Elections

Practical Expedient Package - The Company has elected the following expedients and applied them consistently to all leases:


◦	The Company will not revisit whether a contract is, or contains, a lease under the ASC 842 definition of a lease.


◦	The lease classification determined under prior guidance will not be reevaluated under ASC 842.


◦	Previously capitalized initial direct costs under prior guidance will be carried forward. Any initial direct costs after the effective date will be included within the ROU asset under ASC 842.

Portfolio approach - In general, the Company accounts for the underlying leased asset and applies a discount rate at the lease level. However, there are certain non-real estate leases for which the Company utilizes the portfolio method by aggregating similar leased assets based on the underlying lease term.

Non-lease component - The Company has lease agreements with lease and non-lease components. The Company has elected a policy to account for lease and non-lease components as a single component for all asset classes.

Short-term lease - Leases with an initial term of 12 months or less are not recorded on the balance sheets.

Discount rate - As most of the Company's leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.

Renewal options - The Company evaluates the inclusion of renewal options on a lease by lease basis. In general, for leased retail real estate, the Company does not include renewal options in the underlying lease term.

SEASONALITY

The Company experiences seasonal fluctuations in its sales and profitability due to the timing of certain holidays and key retail shopping periods, typically resulting in lower sales and gross profit in the first half of its fiscal year. Accordingly, the Company's results of operations during the first half of the year may not be indicative of the results for the full year.

RECENT ACCOUNTING PRONOUNCEMENTS

Adopted in Fiscal 2019

Leases (ASU 2016-02)

At the beginning of fiscal 2019, the Company adopted the provisions of ASC No. 842, Leases ("ASC 842"), using a modified retrospective approach as an optional transition method. The standard required lessees to recognize a right-of-use (“ROU”) asset and lease liability for all leases. The Company elected the package of practical expedients for existing contracts permitted transition guidance in Accounting Standards Update ("ASU") 2016-02, which allowed the Company to carry forward its identification of contracts that are or contain leases, its historical lease classification, and its initial direct costs for existing leases.

In the first quarter of adoption of ASC 842, the Company recognized ROU assets for operating leases of approximately $705 million and operating lease liabilities of approximately $844 million. The initial ROU assets recognized were equal to the initial operating lease liabilities, adjusted for the balance on adoption date of prepaid and accrued rent, lease incentives and unamortized initial direct costs. The adoption of the standard had a material impact on our consolidated balance sheets, but did not have a material impact on our consolidated income statements or statement of cash flows. The Company’s consolidated financial statements for the period ended December 28, 2019 are presented under ASC 842, while comparative periods presented have not been adjusted and continue to be reported in accordance with the previous standard, ASC No. 840, Leases.

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (ASU 2018-02)

At the beginning of fiscal 2019, the Company adopted ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ("ASU 2018-02"). The adoption of ASU 2018-02 allowed the Company to reclassify the income tax effects of the U.S. Tax Cuts and Jobs Act of 2017 (the "2017 Tax Act") on items within accumulated other comprehensive income or loss ("AOCI-L") to retained earnings. Because most items that are charged to AOCI-L are recorded net of applicable income taxes, the subsequent reclassification of these items from AOCI-L to the statement of operations was at different income tax rates due to the 2017 Tax Act, thereby leaving a "stranded" tax balance within AOCI-L. ASU 2018-02 allowed the Company to transfer these "stranded" amounts from AOCI-L to retained earnings. The effect of the adoption of ASU 2018-02 was not material to the Company's financial position and did not have an effect on the Company's consolidated results of operations or cash flows.

To Be Adopted After Fiscal 2019

Credit Losses (ASU 2016-13)

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). This new guidance will change how entities account for credit impairment for trade and other receivables, as well as for certain financial assets and other instruments. ASU 2016-13 will replace the current "incurred loss" model with an "expected loss" model. Under the "incurred loss" model, a loss (or allowance) is recognized only when an event has occurred (such as a payment delinquency) that causes the entity to believe that a loss is probable (i.e., that it has been "incurred"). Under the "expected loss" model, an entity will recognize a loss (or allowance) upon initial recognition of the asset that reflects all future events that will lead to a loss being realized, regardless of whether it is probable that the future event will occur. The "incurred loss" model considers past events and current conditions, while the "expected loss" model consider historical information and current conditions and includes expectations for the future which have yet to occur. ASU 2016-13 is effective for public companies for fiscal years beginning after December 15, 2019 with early adoption permitted for fiscal years beginning after December 15, 2018, including interim periods therein. The standard will

require entities to record a cumulative-effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. The Company has completed its analysis of the impact of this guidance, and the adoption of this standard will not have a material impact on our consolidated financial statements.

Goodwill Impairment Testing (ASU 2017-04)

In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 will eliminate the requirement to calculate the implied fair value of goodwill (step 2 of the current goodwill impairment test) to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit's carrying amount over its fair value (i.e., measure the charge based on the current step 1). Any impairment charge will be limited to the amount of goodwill allocated to an impacted reporting unit. ASU 2017-04 will not change the current guidance for completing Step 1 of the goodwill impairment test, and an entity will still be able to perform the current optional qualitative goodwill impairment assessment before determining whether to proceed to Step 1. Upon adoption, ASU 2017-04 will be applied prospectively. Adoption for public companies is effective for annual and interim impairment tests performed in periods after December 15, 2019. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The impact that ASU 2017-04 may have on the Company's financial condition or results of operations will depend on the circumstances of any goodwill impairment event that may occur after adoption.

THE COMPANY	12 Months Ended
THE COMPANY	Dec. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY	THE COMPANY Carter's, Inc. and its wholly owned subsidiaries (collectively, the "Company") design, source, and market branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Precious Baby, Little Planet, and other brands. The Company's products are sourced through contractual arrangements with manufacturers worldwide for: 1) wholesale distribution to leading department stores, national chains, and specialty retailers domestically and internationally and 2) distribution to the Company's own retail stores and eCommerce sites that market its brand name merchandise and other licensed products manufactured by other companies.

REVENUE RECOGNITION

12 Months Ended

Dec. 28, 2019

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

The Company's revenues are earned from contracts or arrangements with retail and wholesale customers and licensees. Contracts include written agreements, as well as arrangements that are implied by customary practices or law.

At the beginning of fiscal 2018, the Company adopted the provisions of ASC 606 using the full retrospective adoption method. Under the full retrospective method, the Company adjusted all periods in fiscal 2017 to reflect the provisions of ASC 606.

The effects of retrospective adoption on the Company's consolidated Statements of Operations were as follows:



	For the fiscal year ended
(dollars in thousands, except per share data)	2017
Net sales	$	92
Cost of goods sold	$	52
Income before income taxes	$	40
Net income	$	84

Basic net income per common share	$	—
Diluted net income per common share	$	—

Disaggregation of Revenue

The Company sells its products directly to consumers ("direct-to-consumer") and to other retail companies and partners that subsequently sell the products directly to their own customers. The Company also earns royalties from its licensees. Disaggregated revenues from these sources for fiscal years 2019, 2018, and 2017 were as follows:



	Fiscal year ended December 28, 2019
(dollars in thousands)	U.S. Retail		U.S. Wholesale		International		Total
Wholesale channel	$	—	$	1,205,646	$	163,793	$	1,369,439
Direct-to-consumer	1,884,150		—		265,697		2,149,847
	$	1,884,150	$	1,205,646	$	429,490	$	3,519,286

Royalty income	$	12,990	$	17,670	$	3,977	$	34,637



	Fiscal year ended December 29, 2018
(dollars in thousands)	U.S. Retail		U.S. Wholesale		International		Total
Wholesale channel	$	—	$	1,180,687	$	163,637	$	1,344,324
Direct-to-consumer	1,851,193		—		266,752		2,117,945
	$	1,851,193	$	1,180,687	$	430,389	$	3,462,269

Royalty income	$	12,877	$	22,511	$	3,542	$	38,930



	Fiscal year ended December 30, 2017
(dollars in thousands)	U.S. Retail		U.S. Wholesale		International		Total
Wholesale channel	$	—	$	1,209,663	$	160,850	$	1,370,513
Direct-to-consumer	1,775,378		—		254,613		2,029,991
	$	1,775,378	$	1,209,663	$	415,463	$	3,400,504

Royalty income	$	15,541	$	23,767	$	3,873	$	43,181

Accounts Receivable from Customers and Licensees

The components of Accounts receivable, net, were as follows:



(dollars in thousands)	December 28, 2019			December 29, 2018
Trade receivables from wholesale customers, net	$	240,750		$	244,258
Royalties receivable	6,982			9,279
Tenant allowances and other receivables	16,247			16,588
Total gross receivables	$	263,979		$	270,125
Less: Wholesale accounts receivable reserves	(12,974		)	(11,866		)
Accounts receivable, net	$	251,005		$	258,259

Information regarding Wholesale accounts receivable reserves is as follows:



(dollars in thousands)	Wholesale accounts receivable reserves
Balance at December 31, 2016	$	8,752
Additional provisions	8,204
Charges to reserve	(3,220		)
Balance at December 30, 2017	$	13,736
Additional provisions	30,280
Charges to reserve	(32,150		)
Balance at December 29, 2018	$	11,866
Additional provisions	9,047
Charges to reserve	(7,939		)
Balance at December 28, 2019	$	12,974

Contract Assets and Liabilities

The Company's contract assets are not material.

Contract Liabilities

The Company recognizes a contract liability when it has received consideration from the customer and has a future obligation to transfer goods to the customer. Total contract liabilities consisted of the following amounts:



(dollars in thousands)	December 28, 2019		December 29, 2018
Contract liabilities-current:
Unredeemed gift cards	$	17,563	$	14,471
Unredeemed customer loyalty rewards	5,615		7,764
Carter's credit card - upfront bonus⁽¹⁾	714		714
Total contract liabilities-current⁽²⁾	$	23,892	$	22,949


(1)	Carter's credit card - upfront bonus - the Company received an upfront signing bonus from a third-party financial institution, which will be recognized as revenue on a straight-line basis over the term of the agreement. This amount reflects the current portion of this bonus to be recognized as revenue in 2020.


(2)	Included with Other current liabilities on the Company's consolidated balance sheet.

Composition of Contract Liabilities

Unredeemed gift cards - the Company is obligated to transfer goods in the future to customers who have purchased gift cards. Periodic changes in the gift card contract liability result from the redemption of gift cards by customers and the recognition of estimated breakage revenue for those gift card balances that are not expected to be redeemed. The majority of our gift cards do not have an expiration date; however, all outstanding gift card balances are classified by the Company as current liabilities since gift cards are redeemable on demand by the valid holder. The majority of the Company's gift cards are redeemed within one year of issuance.

Unredeemed loyalty rewards - points and reward certificates earned by customers under the Company's loyalty program represent obligations of the Company to transfer goods to the customer upon redemption. Periodic changes in the loyalty program contract liability result from reward certificate redemptions and expirations. The earning and redemption cycles for our loyalty program are under one year in duration.

LEASES (Details) - USD ($)	12 Months Ended
LEASES (Details) - USD ($)	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	Mar. 30, 2019
Leases [Abstract]
Operating Lease, Cost	$ 179,982,000
Variable Lease, Cost	63,043,000
Lease, Cost	243,025,000
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	192,986,000
Lessee, Operating Lease, Liability, Payments, Due Year Two	175,521,000
Lessee, Operating Lease, Liability, Payments, Due Year Three	151,436,000
Lessee, Operating Lease, Liability, Payments, Due Year Four	125,320,000
Lessee, Operating Lease, Liability, Payments, Due after Year Five	195,757,000
Lessee, Operating Lease, Liability, Payments, Due	941,943,000
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(117,343,000)
Operating Lease, Liability	824,600,000			$ 844
Operating Leases, Future Minimum Payments Due, Next Twelve Months		$ 163,963,000
Operating Leases, Future Minimum Payments, Due in Three Years		134,203,000
Operating Leases, Future Minimum Payments, Due in Two Years		150,010,000
Operating Leases, Future Minimum Payments, Due in Four Years		116,773,000
Operating Leases, Future Minimum Payments, Due in Five Years		102,487,000
Lessee, Operating Lease, Liability, Payments, Due Year Five	$ 100,923,000
Operating Leases, Future Minimum Payments, Due Thereafter		235,731,000
Operating Leases, Future Minimum Payments Due		903,167,000
Operating Leases, Rent Expense, Net		$ 165,600,000	$ 161,900,000

SEGMENT INFORMATION (Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 1,100,523	$ 943,322	$ 734,384	$ 741,057	$ 1,086,379	$ 923,907	$ 696,197	$ 755,786	$ 3,519,286	$ 3,462,269	$ 3,400,504
Percentage of total net sales									100.00%	100.00%	100.00%
Operating income (loss)	162,767	83,870	64,476	60,759	$ 170,597	$ 103,557	$ 56,970	$ 60,309	$ 371,872	$ 391,433	$ 419,607
Operating income as percentage of segment net sales									10.60%	11.30%	12.30%
Corporate expenses									$ (103,210)	$ (96,798)	$ 94,549
Corporate expense as a percentage of segment net sales									2.90%	2.80%	2.80%
Provisions for special employee compensation											$ 2,900
(Recoveries of) provisions for doubtful accounts receivable from customers									$ (220)	$ 15,801	4,663
Amortization of H.W. Carter and Sons tradenames									3,700	3,700	2,600
Acquisition-related costs											3,400
Intangible asset impairment	$ 0	$ 30,800	$ 0	$ 0					30,800	0	0
Severance Costs									1,600
Sourcing Initiative
Segment Reporting Information [Line Items]
Corporate expenses											(300)
Skip Hop [Member]
Segment Reporting Information [Line Items]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability											3,600
Wholesale [Member]
Segment Reporting Information [Line Items]
(Recoveries of) provisions for doubtful accounts receivable from customers										12,800
Accounts Receivable, Allowance for Credit Loss, Recovery									600	1,900
International
Segment Reporting Information [Line Items]
Net sales									429,490	430,389	415,463
Operating income (loss)									2,100	5,300
Wholesale, Retail and International Segment [Member] \| Skip Hop [Member]
Segment Reporting Information [Line Items]
Operating income (loss)											1,200
Wholesale Segment [Member]
Segment Reporting Information [Line Items]
Net sales									1,205,646	1,180,687	1,209,663
Retail Segment [Member]
Segment Reporting Information [Line Items]
Net sales									1,884,150	1,851,193	1,775,378
Operating Segments [Member] \| Retail [Member]
Segment Reporting Information [Line Items]
Insurance Recoveries										400
Net sales									$ 1,884,150	$ 1,851,193	$ 1,775,378
Percentage of total net sales									53.50%	53.50%	52.20%
Operating income (loss)									$ 225,874	$ 224,784	$ 215,640
Operating income as percentage of segment net sales									12.00%	12.10%	12.10%
Restructuring Costs									$ 700		$ 2,700
Provisions for special employee compensation											12,700
Operating Segments [Member] \| Wholesale [Member]
Segment Reporting Information [Line Items]
Net sales									$ 1,205,646	$ 1,180,687	$ 1,209,663
Percentage of total net sales									34.30%	34.10%	35.60%
Operating income (loss)									$ 212,558	$ 224,194	$ 252,090
Operating income as percentage of segment net sales									17.60%	19.00%	20.80%
Provisions for special employee compensation											$ 3,300
Operating Segments [Member] \| International
Segment Reporting Information [Line Items]
Net sales									$ 429,490	$ 430,389	$ 415,463
Percentage of total net sales									12.20%	12.40%	12.20%
Operating income (loss)									$ 36,650	$ 39,253	$ 46,426
Operating income as percentage of segment net sales									8.50%	9.10%	11.20%
Provisions for special employee compensation											$ 2,300

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Accounts Receivable) (Details) - customer	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Sales [Member]
Accounts Receivable [Abstract]
Number of largest wholesale customers being discussed	0
maximum disclosure percentage of net sales	10.00%
Accounts Receivable [Member]
Accounts Receivable [Abstract]
Customer concentration risk, gross accounts receivable	52.00%	40.00%
Number of largest wholesale customers being discussed	3	3
Maximum disclosure percentage for gross accounts receivable	10.00%	10.00%

REVENUE RECOGNITION (Tables)

12 Months Ended

Dec. 28, 2019

Revenue from Contract with Customer [Abstract]

ASC 606 Initial Application

The effects of retrospective adoption on the Company's consolidated Statements of Operations were as follows:



	For the fiscal year ended
(dollars in thousands, except per share data)	2017
Net sales	$	92
Cost of goods sold	$	52
Income before income taxes	$	40
Net income	$	84

Basic net income per common share	$	—
Diluted net income per common share	$	—

Disaggregation of Revenue



	Fiscal year ended December 28, 2019
(dollars in thousands)	U.S. Retail		U.S. Wholesale		International		Total
Wholesale channel	$	—	$	1,205,646	$	163,793	$	1,369,439
Direct-to-consumer	1,884,150		—		265,697		2,149,847
	$	1,884,150	$	1,205,646	$	429,490	$	3,519,286

Royalty income	$	12,990	$	17,670	$	3,977	$	34,637



	Fiscal year ended December 29, 2018
(dollars in thousands)	U.S. Retail		U.S. Wholesale		International		Total
Wholesale channel	$	—	$	1,180,687	$	163,637	$	1,344,324
Direct-to-consumer	1,851,193		—		266,752		2,117,945
	$	1,851,193	$	1,180,687	$	430,389	$	3,462,269

Royalty income	$	12,877	$	22,511	$	3,542	$	38,930



	Fiscal year ended December 30, 2017
(dollars in thousands)	U.S. Retail		U.S. Wholesale		International		Total
Wholesale channel	$	—	$	1,209,663	$	160,850	$	1,370,513
Direct-to-consumer	1,775,378		—		254,613		2,029,991
	$	1,775,378	$	1,209,663	$	415,463	$	3,400,504

Royalty income	$	15,541	$	23,767	$	3,873	$	43,181

Accounts Receivable from Customers and Licensees

The components of Accounts receivable, net, were as follows:



(dollars in thousands)	December 28, 2019			December 29, 2018
Trade receivables from wholesale customers, net	$	240,750		$	244,258
Royalties receivable	6,982			9,279
Tenant allowances and other receivables	16,247			16,588
Total gross receivables	$	263,979		$	270,125
Less: Wholesale accounts receivable reserves	(12,974		)	(11,866		)
Accounts receivable, net	$	251,005		$	258,259

Contract Liabilities

Contract Assets and Liabilities

The Company's contract assets are not material.

Contract Liabilities



(dollars in thousands)	December 28, 2019		December 29, 2018
Contract liabilities-current:
Unredeemed gift cards	$	17,563	$	14,471
Unredeemed customer loyalty rewards	5,615		7,764
Carter's credit card - upfront bonus⁽¹⁾	714		714
Total contract liabilities-current⁽²⁾	$	23,892	$	22,949


(1)	Carter's credit card - upfront bonus - the Company received an upfront signing bonus from a third-party financial institution, which will be recognized as revenue on a straight-line basis over the term of the agreement. This amount reflects the current portion of this bonus to be recognized as revenue in 2020.

(2)

Included with Other current liabilities on the Company's consolidated balance sheet.

REVENUE RECOGNITION Wholesale accounts receivable reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 12,974	$ 11,866	$ 13,736	$ 8,752
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	9,047	30,280	8,204
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	$ (7,939)	$ (32,150)	$ (3,220)

UNAUDITED QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 28, 2019

Quarterly Financial Information Disclosure [Abstract]

UNAUDITED QUARTERLY FINANCIAL DATA

The unaudited summarized financial data by quarter for the fiscal years ended December 28, 2019 and December 29, 2018 is presented in the table below:



(dollars in thousands, except per share data)	Quarter 1		Quarter 2		Quarter 3		Quarter 4
Fiscal 2019:
Net sales	$	741,057	$	734,384	$	943,322	$	1,100,523
Gross profit	$	315,867	$	322,996	$	402,211	$	467,476
Royalty income, net	$	8,544	$	9,635	$	9,192	$	7,266
Selling, general, and administrative expenses	$	263,652	$	268,155	$	296,733	$	311,975
Intangible asset impairment	$	—	$	—	$	30,800	$	—
Operating income	$	60,759	$	64,476	$	83,870	$	162,767
Net income	$	34,466	$	43,937	$	60,252	$	125,147
Basic net income per common share⁽¹⁾	$	0.76	$	0.97	$	1.35	$	2.84
Diluted net income per common share⁽¹⁾	$	0.75	$	0.97	$	1.34	$	2.82

Fiscal 2018:
Net sales	$	755,786	$	696,197	$	923,907	$	1,086,379
Gross profit	$	332,477	$	309,958	$	387,450	$	467,598
Royalty income, net	$	7,994	$	10,355	$	10,224	$	10,357
Selling, general, and administrative expenses	$	280,162	$	263,343	$	294,117	$	307,358
Operating income	$	60,309	$	56,970	$	103,557	$	170,597
Net income	$	42,469	$	37,268	$	71,770	$	130,561
Basic net income per common share⁽¹⁾	$	0.90	$	0.80	$	1.55	$	2.85
Diluted net income per common share⁽¹⁾	$	0.89	$	0.79	$	1.53	$	2.83

(1)

May not be additive to the net income per common share amounts for the fiscal year due to the calculation provision of ASC 260, Earnings Per Share.

SEGMENT INFORMATION (Long-Lived Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 320,168	$ 350,437
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	283,371	314,679
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 36,797	$ 35,758
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
International Long-Lived Assets, Percent of Total Long-Lived Assets	84.30%	87.40%

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Pension Plans
Unrealized gain (loss) on OshKosh defined benefit and postretirement plans, tax	$ (230)	$ 80	$ 140
Postretirement Benefit
Unrealized gain (loss) on OshKosh defined benefit and postretirement plans, tax	$ 150	$ (70)	$ 70

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 28, 2019

Earnings Per Share [Abstract]

Reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding

The following is a reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding:



	For the fiscal year ended
	December 28, 2019			December 29, 2018			December 30, 2017
Weighted-average number of common and common equivalent shares outstanding:
Basic number of common shares outstanding	44,402,438			46,160,935			47,593,211
Dilutive effect of equity awards	305,514			487,485			552,864
Diluted number of common and common equivalent shares outstanding	44,707,952			46,648,420			48,146,075
Earnings per share:
(dollars in thousands, except per share data)
Basic net income per common share:
Net income	$	263,802		$	282,068		$	302,848
Income allocated to participating securities	(2,430		)	(2,148		)	(2,407		)
Net income available to common shareholders	$	261,372		$	279,920		$	300,441
Basic net income per common share	$	5.89		$	6.06		$	6.31

Diluted net income per common share:
Net income	$	263,802		$	282,068		$	302,848
Income allocated to participating securities	(2,419		)	(2,132		)	(2,386		)
Net income available to common shareholders	$	261,383		$	279,936		$	300,462
Diluted net income per common share	$	5.85		$	6.00		$	6.24

Anti-dilutive shares excluded from dilutive earnings per share calculations⁽¹⁾	351,777			289,839			629,944


(1)	The volume of antidilutive shares is, in part, due to the related unamortized compensation costs.

PROPERTY, PLANT, AND EQUIPMENT (Tables)

12 Months Ended

Dec. 28, 2019

Property, Plant and Equipment [Abstract]

Property, plant, and equipment

Property, plant, and equipment, net consists of the following:



(dollars in thousands)	December 28, 2019			December 29, 2018
Land, building, and leasehold improvements	$	363,428		$	348,131
Fixtures, equipment, and computer hardware	297,930			277,321
Computer software	161,104			148,365
Marketing fixtures	11,160			7,001
Construction in progress	10,394			18,517
	844,016			799,335
Accumulated depreciation and amortization	(523,848		)	(448,898		)
Total	$	320,168		$	350,437

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	Dec. 30, 2017	Dec. 29, 2018	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Unrecognized deferred tax liability related to undistributed earnings			$ 2.0
Foreign earnings	$ 10.4
Remeasurement of certain deferred income tax		$ 50.4

OTHER CURRENT AND LONG-TERM LIABILITIES (Tables)

12 Months Ended

Dec. 28, 2019

Other Liabilities Disclosure [Abstract]

Schedule of other current liabilities

Other current liabilities that exceeded five percent of total current liabilities (at the end of either fiscal year) consisted of the following:



(dollars in thousands)	December 28, 2019		December 29, 2018
Accrued employee benefits	$	16,556	$	16,421
Accrued and deferred rent	$	311	$	19,120
Income taxes payable	$	23,269	$	17,415

Schedule of other long-term liabilities

Other long-term liabilities that exceeded five percent of total liabilities (at the end of either fiscal year) consisted of the following:



(dollars in thousands)	December 28, 2019		December 29, 2018
Deferred lease incentives	$	—	$	72,345

EMPLOYEE BENEFIT PLANS (Benefit Obligation and Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Change in plan assets:
Contribution	$ 300	$ 300	$ 300
Pension Plans
Change in projected benefit obligation:
Benefit obligation at beginning of period	62,297	66,747
Interest cost	2,432	2,287	2,446
Actuarial (gain) loss	6,039	(4,371)
Benefits paid	(2,437)	(2,366)
Benefit obligation at end of period	68,331	62,297	66,747
Change in plan assets:
Fair value of plan assets at beginning of year	55,564	54,437
Actual return on plan assets	8,834	(2,507)
Fair value of plan assets at end of year	61,961	55,564	54,437
Contribution	0	6,000
Defined Benefit Plan, Benefit Obligation, Benefits Paid	2,437	2,366
Postretirement Benefit
Change in projected benefit obligation:
Benefit obligation at beginning of period	3,228	3,969
Service cost	21	32	30
Interest cost	123	123	137
Actuarial (gain) loss	238	(573)
Plan participants' contribution	0	1
Benefit obligation at end of period	3,311	3,228	$ 3,969
Change in plan assets:
Defined Benefit Plan, Benefit Obligation, Benefits Paid	299	324
Postretirement Benefit \| Other Long Term Liabilities
Change in projected benefit obligation:
Benefit obligation at beginning of period	2,900
Benefit obligation at end of period	$ 3,000	$ 2,900

SEGMENT INFORMATION (Revenue) (Details) - Canada	12 Months Ended
SEGMENT INFORMATION (Revenue) (Details) - Canada	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
International Long-Lived Assets, Percent of Total Long-Lived Assets	84.30%	87.40%
Percentage of total net sales	65.60%	64.20%	64.90%

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Goodwill and Other Intangible Assets [Line Items]
Goodwill, Gross amount	$ 229,026				$ 229,026	$ 227,101
Goodwill	229,026				229,026	227,101
Intangible asset impairment	0	$ 30,800	$ 0	$ 0	30,800	0	$ 0
Amortization of intangible assets					3,700	3,700	$ 2,600
Year one	3,754				3,754
Year two	3,754				3,754
Year three	3,754				3,754
Year four	3,712				3,712
Year five	3,682				3,682
Other Tradenames [Member]
Goodwill and Other Intangible Assets [Line Items]
Finite intangible assets, Gross amount	3,911				3,911	3,911
Finite intangible assets, Accumulated amortization	1,002				1,002	752
Finite intangible assets, Net amount	2,909				2,909	3,159
Tradenames [Member]
Goodwill and Other Intangible Assets [Line Items]
Finite intangible assets, Gross amount	335,644				335,644	366,444
Finite intangible assets, Accumulated amortization	1,002				1,002	752
Finite intangible assets, Net amount	334,642				$ 334,642	365,692
Skip Hop Customer Relationships [Member]
Goodwill and Other Intangible Assets [Line Items]
Weighted-average useful life					15 years
Finite intangible assets, Gross amount	47,300				$ 47,300	47,300
Finite intangible assets, Accumulated amortization	8,657				8,657	5,480
Finite intangible assets, Net amount	38,643				$ 38,643	41,820
Carters Mexico Customer Relationships [Member]
Goodwill and Other Intangible Assets [Line Items]
Weighted-average useful life					10 years
Finite intangible assets, Gross amount	3,258				$ 3,258	3,146
Finite intangible assets, Accumulated amortization	775				775	455
Finite intangible assets, Net amount	2,483				2,483	2,691
Customer Relationships [Member]
Goodwill and Other Intangible Assets [Line Items]
Finite intangible assets, Gross amount	50,558				50,558	50,446
Finite intangible assets, Accumulated amortization	9,432				9,432	5,935
Finite intangible assets, Net amount	41,126				41,126	44,511
Carter's Goodwill [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill, Gross amount	136,570				136,570	136,570
Goodwill	136,570				136,570	136,570
Carter's Goodwill [Member] \| Wholesale Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill	45,900				45,900
Carter's Goodwill [Member] \| Retail Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill	82,000				82,000
Carter's Goodwill [Member] \| International Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill	8,600				8,600
Canada Acquisition Goodwill [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill, Gross amount	40,524				40,524	38,869
Goodwill	40,524				40,524	38,869
Skip Hop Goodwill [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill, Gross amount	45,978				45,978	45,960
Goodwill	45,978				45,978	45,960
Skip Hop Goodwill [Member] \| Wholesale Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill	28,600				28,600
Skip Hop Goodwill [Member] \| Retail Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill	15,500				15,500
Skip Hop Goodwill [Member] \| International Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill	1,900				1,900
Carters Mexico [Member]
Goodwill and Other Intangible Assets [Line Items]
Goodwill, Gross amount	5,954				5,954	5,702
Goodwill	5,954				5,954	5,702
Carter's Tradename [Member]
Goodwill and Other Intangible Assets [Line Items]
Indefinite intangible assets	220,233				220,233	220,233
Oshkosh Tradename [Member]
Goodwill and Other Intangible Assets [Line Items]
Indefinite intangible assets	85,500				85,500	85,500
Skip Hop Trade Name [Member]
Goodwill and Other Intangible Assets [Line Items]
Indefinite intangible assets	$ 26,000				26,000	$ 56,800
Skip Hop Trade Name [Member] \| Wholesale Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Intangible asset impairment					19,100
Skip Hop Trade Name [Member] \| Retail Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Intangible asset impairment					1,200
Skip Hop Trade Name [Member] \| International Segment [Member]
Goodwill and Other Intangible Assets [Line Items]
Intangible asset impairment					$ 10,500
Minimum [Member] \| Other Tradenames [Member]
Goodwill and Other Intangible Assets [Line Items]
Weighted-average useful life					5 years
Maximum [Member] \| Other Tradenames [Member]
Goodwill and Other Intangible Assets [Line Items]
Weighted-average useful life					20 years

FAIR VALUE MEASUREMENTS Foreign currency contracts (Details) - USD ($)	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (Loss) on Investments	$ 4,000,000.0	$ 1,000,000.0
Investment Owned, Foreign Currency Contract, Current Value	0	0
Long-term debt, BS	594,672,000	593,264,000
Secured revolving credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt	100,000,000	196,000,000
Senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt	494,672,000	397,264,000
Long-term Debt, Fair Value	538,400,000
Long-term debt, BS	500,000,000
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	19,700,000	$ 15,700,000
Canada, Dollars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt	$ 0

COMMON STOCK (Tables)

12 Months Ended

Dec. 28, 2019

Equity [Abstract]

Open Market Repurchases

Open-market repurchases of our common stock during fiscal years 2019, 2018 and 2017 were as follows:



	For the fiscal year ended
	December 28, 2019		December 29, 2018		December 30, 2017
Number of shares repurchased	2,107,472		1,879,529		2,103,401
Aggregate cost of shares repurchased (dollars in thousands)	$	196,910	$	193,028	$	188,762
Average price per share	$	93.43	$	102.70	$	89.74

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21553-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21488-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21484-112644

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Debt Instrument [Line Items]
Intangible asset impairment	$ 0	$ 30,800	$ 0	$ 0	$ 30,800	$ 0	$ 0
Interest paid in cash					36,500	33,600	28,300
Income taxes paid in cash					67,600	55,900	132,900
Property, plant and equipment additions					$ 1,200	$ 1,900	$ 1,900

BUSINESS ACQUISITIONS (Skip Hop Acquisition) (Details) - USD ($) $ in Thousands	10 Months Ended
	Dec. 30, 2017	Dec. 28, 2019	Dec. 29, 2018	Feb. 23, 2017
Business Acquisition [Line Items]
Goodwill		$ 229,026	$ 227,101
Skip Hop [Member]
Business Acquisition [Line Items]
Percentage of voting interests acquired				100.00%
Payments to Acquire Businesses, Net of Cash Acquired	$ 142,500
Less cash acquired at acquisition	(800)
Goodwill	46,000
Intangible Assets	104,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	53,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	20,800
Deferred income tax liabilities	$ (36,300)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 28, 2019

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Fiscal Year

Use of Estimates in the Preparation of the Consolidated Financial Statements

Foreign Currency Translation and Transactions

Translation Adjustments

Transaction Adjustments

Foreign Currency Contracts

Cash and Cash Equivalents

Concentration of Cash Deposits Risk

Accounts Receivable

Concentration of Credit Risk

In fiscal 2019, 2018, and 2017, no one customer accounted for 10% or more of the Company's consolidated net sales.

Valuation Accounts for Wholesale Accounts Receivable

Accounts Receivable Reserves

Sales Returns Reserves

Except in very limited instances, the Company does not allow its wholesale customers to return goods to the Company.

Inventories

Leases

At the beginning of fiscal 2019, the Company adopted the provisions of ASC No. 842, Leases ("ASC 842"), using a modified retrospective approach as an optional transition method. This approach allows the Company to apply the standard and related disclosures to the financial statements for the period of adoption and to apply the old guidance in the comparative periods.

Financial Presentation

The operating lease ROU asset also includes initial direct costs and excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term.

Policy Elections

Practical Expedient Package - The Company has elected the following expedients and applied them consistently to all leases:


◦	The Company will not revisit whether a contract is, or contains, a lease under the ASC 842 definition of a lease.


◦	The lease classification determined under prior guidance will not be reevaluated under ASC 842.


◦	Previously capitalized initial direct costs under prior guidance will be carried forward. Any initial direct costs after the effective date will be included within the ROU asset under ASC 842.

Short-term lease - Leases with an initial term of 12 months or less are not recorded on the balance sheets.

Property, Plant, and Equipment

capitalizes the cost of its fixtures designed and purchased for use at major wholesale accounts. The cost of these fixtures is amortized over 3 years.

Internal-Use Software

Goodwill and Other Intangible Assets

Annual Impairment Reviews

Goodwill

Indefinite-lived Tradenames

The Company's Skip Hop business has experienced lower than expected actual and projected sales and profitability due to lower domestic demand, including the loss of a significant customer (Toys "R" Us), lower international demand and higher product costs primarily driven by tariffs imposed on products sourced from China. As a result, the Company conducted an interim impairment assessment in the third quarter of fiscal 2019 on the value of the Company's indefinite-lived Skip Hop tradename asset that was recorded in connection with the acquisition of Skip Hop Holdings, Inc. in February 2017. The indefinite-lived tradename asset assessment was performed in accordance with Accounting Standards Codification ("ASC") 350, "Intangibles--Goodwill and Other" and was determined using a discounted cash flow analysis which examined the hypothetical cost savings that accrue as a result of our ownership of the tradename. Based on this assessment, a charge of $19.1 million, $10.5 million, and $1.2 million was recorded on our indefinite-lived Skip Hop tradename asset in the U.S. Wholesale, International, and U.S. Retail segments, respectively, to reflect the impairment of the value ascribed to the indefinite-lived Skip

Hop tradename asset. The carrying value of the Company's indefinite-lived Skip Hop tradename asset after the impairment charge was $26.0 million.

Impairment of Other Long-Lived Assets

Deferred Debt Issuance Costs

Fair Value Measurements



Level 1:	Quoted prices in active markets for identical assets or liabilities.
Level 2:	Quoted prices for similar assets and liabilities in active markets or inputs that are observable.
Level 3:	Unobservable inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability.

Revenue Recognition

At the beginning of fiscal 2018, the Company adopted the provisions of ASC 606 using the full retrospective adoption method. Refer to Note 3, Revenue Recognition, for additional information.

The Company uses the five-step model to recognize revenue:


1)	Identify the contract with the customer;


2)	Identity the performance obligation(s);


3)	Determine the transaction price;


4)	Allocate the transaction price to each performance obligation if multiple obligations exist; and


5)	Recognize the revenue when the performance obligations are satisfied

Performance Obligations

When Performance Obligations Are Satisfied

The Company satisfies its performance obligations with licensees over time as customers have the right to use the intellectual property over the contract period.

Significant Payment Terms

Retail customers tender a form of payment, such as cash or a credit/debit card, at point of sale. For wholesale customers and licensees, payment is due based on established terms.

Returns and Refunds

The Company establishes return provisions for retail customers. It is the Company's policy not to accept returns from wholesale customers.

Significant Judgments

Costs Incurred to Obtain a Contract - Incremental costs to obtain contracts are not material to the Company.

Policy Elections

In addition to those previously disclosed, the Company has made the following accounting policy elections and practical expedients:


•	Portfolio Approach - The Company uses the portfolio approach when multiple contracts or performance obligations are involved in the determination of revenue recognition.


•	Taxes - The Company excludes from the transaction price any taxes collected from customers that are remitted to taxing authorities.


•	Shipping and Handling Charges - Charges that are incurred before and after the customer obtains control of goods are deemed to be fulfillment costs.


•	Time Value of Money - The Company's payment terms are less than one year from the transfer of goods. Therefore, the Company does not adjust promised amounts of consideration for the effects of the time value of money.


•	Disclosure of Remaining Performance Obligations - The Company does not disclose the aggregate amount of the transaction price allocated to remaining performance obligations for contracts that are one year or less in term.

Costs of Goods Sold and Selling, General and Administrative Expenses

Definitions of gross profit and gross margin vary across the industry and, as such, our metrics may not be comparable to other companies.

Income from Royalties and License Fees

Advertising Expenses

Stock-Based Compensation Arrangements

Stock Options

The Company determines the fair value of stock options using the Black-Scholes option pricing model, which requires the use of the following subjective assumptions:


•	Volatility - This is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate. The Company uses actual monthly historical changes in the market value of its stock covering the expected life of options being valued. An increase in the expected volatility will increase the fair value of the stock option and related compensation expense.


•	Risk-free interest rate - This is the U.S. Treasury rate as of the grant date having a term equal to the expected term of the stock option. An increase in the risk-free interest rate will increase the fair value of the stock option and related compensation expense.

•


•	Dividend yield - The Company estimates a dividend yield based on the current dividend amount as a percentage of the current stock price. An increase in the dividend yield will decrease the fair value of the stock option and the related compensation expenses.


•	Forfeitures - The Company estimates forfeitures of stock-based awards based on historical experience and expected future activity.

Time-Based Restricted Stock Awards

Performance-Based Restricted Stock Awards

Stock Awards

Income Taxes

Supplemental Cash Flow Information

Interest paid in cash approximated $36.5 million, $33.6 million, and $28.3 million for fiscal years 2019, 2018, and 2017, respectively. Income taxes paid in cash approximated $67.6 million, $55.9 million and $132.9 million for fiscal years 2019, 2018, and 2017, respectively.

Additions to property, plant and equipment of approximately $1.2 million, $1.9 million, and $1.9 million were excluded from capital expenditures on the Company's consolidated statements of cash flows for fiscal years 2019, 2018, and 2017, respectively, since these amounts were accrued and unpaid at the end of each respective fiscal year.

Earnings Per Share

Open Market Repurchases of Common Stock

Employee Benefit Plans

Facility Closure and Severance Costs

Seasonality

Recent Accounting Pronouncements

Adopted in Fiscal 2019

Leases (ASU 2016-02)

At the beginning of fiscal 2019, the Company adopted the provisions of ASC No. 842, Leases ("ASC 842"), using a modified retrospective approach as an optional transition method. The standard required lessees to recognize a right-of-use (“ROU”) asset and lease liability for all leases. The Company elected the package of practical expedients for existing contracts permitted transition guidance in Accounting Standards Update ("ASU") 2016-02, which allowed the Company to carry forward its identification of contracts that are or contain leases, its historical lease classification, and its initial direct costs for existing leases.

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (ASU 2018-02)

To Be Adopted After Fiscal 2019

Credit Losses (ASU 2016-13)

Goodwill Impairment Testing (ASU 2017-04)

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 28, 2019

Share-based Payment Arrangement [Abstract]

Summary of recorded stock-based compensation cost

The Company recorded stock-based compensation cost as follows:



	For the fiscal years ended
(dollars in thousands)	December 28, 2019		December 29, 2018		December 30, 2017
Stock options	$	4,070	$	4,788	$	4,244
Restricted stock:
Time-based awards	9,432		7,938		7,532
Performance-based awards	1,552		744		4,602
Stock awards	1,475		1,203		1,171
Total	$	16,529	$	14,673	$	17,549

Summary of stock option activity

Changes in the Company's stock options for the fiscal year ended December 28, 2019 were as follows:



	Number of shares		Weighted- average exercise price		Weighted-average remaining contractual terms (years)	Aggregate intrinsic value (in thousands)
Outstanding, December 29, 2018	1,447,141		$	74.55

Granted^(*)	—		$	—
Exercised	(274,960	)	$	52.70
Forfeited	(38,340	)	$	100.78
Expired	(5,234	)	$	116.42
Outstanding, December 28, 2019	1,128,607		$	78.78	5.39	$	37,343

Vested and expected to vest, December 28, 2019	1,100,020		$	78.10	5.33	$	37,067
Exercisable, December 28, 2019	786,542		$	68.88	4.45	$	32,898

Assumptions used for grants and summary of stock options and restricted stock activity

The table below presents the weighted-average assumptions used to calculate the fair value of options granted in each of the respective fiscal years:



	For the fiscal years ended
	December 28, 2019^(*)			December 29, 2018			December 30, 2017
Expected volatility	—		%	22.93		%	26.20		%
Risk-free interest rate	—		%	2.75		%	2.06		%
Expected term (years)	0			6.0			6.0
Dividend yield	—		%	1.47		%	1.77		%
Weighted average fair value of options granted	$	—		$	27.36		$	19.57

Summary of restricted stock award activity

The following table summarizes activity related to all restricted stock awards during the fiscal year ended December 28, 2019:



	Restricted stock awards		Weighted-average grant-date fair value
Outstanding, December 29, 2018	374,008		$	97.57
Granted	266,635		$	89.55
Vested	(131,924	)	$	93.03
Forfeited	(50,219	)	$	94.21
Outstanding, December 28, 2019	458,500		$	94.58

Summary of issued shares of common stock to non-management board members

ncluded in restricted stock awards are grants to non-management members of the Company's Board of Directors. At issuance, these awards were fully vested and issued as shares of the Company's common stock. During fiscal years 2019, 2018, and 2017, such awards were as follows:



Fiscal year	Number of shares issued	Fair value per share		Aggregate value (in thousands)
2017	13,860	$	84.46	$	1,171
2018	10,971	$	109.67	$	1,203
2019	16,097	$	91.63	$	1,475



Fiscal year	Number of shares granted	Weighted-average fair value per share
2017	60,952	$	83.84
2018	45,625	$	120.25
2019	60,700	$	88.87

LONG-TERM DEBT (Secured Revolving Credit Facility) (Details)		12 Months Ended
	Aug. 25, 2017 USD ($)	Dec. 28, 2019 USD ($)	Dec. 29, 2018 USD ($)	Dec. 30, 2017 USD ($)	Mar. 14, 2019 USD ($)
Debt Instrument [Line Items]
Long-term debt, BS		$ 594,672,000	$ 593,264,000
Borrowings under secured revolving credit facility		265,000,000	290,000,000	$ 200,000,000
Outstanding letters of credit		5,000,000.0	5,000,000.0
Available for future borrowing		645,000,000.0	549,000,000.0
Debt Issuance Costs, Net					$ 2,600,000
Long-term Debt, Excluding Current Maturities		$ 594,672,000	593,264,000
Minimum [Member]
Debt Instrument [Line Items]
Line of Credit, Debt Covenants, EBITDAR Terms		1.00
Debt covenant, fixed charge coverage ratio		1.00
Minimum [Member] \| fiscal quarter of material acquisition [Member]
Debt Instrument [Line Items]
Line of Credit, Debt Covenants, EBITDAR Terms		1.00
Debt covenant, fixed charge coverage ratio		1.00
Maximum [Member]
Debt Instrument [Line Items]
Line of Credit, Debt Covenants, EBITDAR Terms		4.00
Debt covenant, fixed charge coverage ratio		2.25
Maximum [Member] \| fiscal quarter of material acquisition [Member]
Debt Instrument [Line Items]
Line of Credit, Debt Covenants, EBITDAR Terms		4.50
Debt covenant, fixed charge coverage ratio		2.00
LIBOR [Member]
Debt Instrument [Line Items]
Stated interest rate		1.625%
LIBOR [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable interest rate, basis spread (as a percentage)		1.125%
LIBOR [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable interest rate, basis spread (as a percentage)		1.875%
Base Rate [Member]
Debt Instrument [Line Items]
Stated interest rate		0.625%
Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable interest rate, basis spread (as a percentage)		0.125%
Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable interest rate, basis spread (as a percentage)		0.875%
Amended Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Consolidated leverage ratio	1.00
Amended Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Consolidated leverage ratio	2.25
Secured revolving credit facility
Debt Instrument [Line Items]
Long-term Debt		$ 100,000,000	$ 196,000,000
Secured revolving credit facility \| LIBOR [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate		3.42%	4.11%
Secured revolving credit facility \| Amended Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 425,000,000
Secured revolving credit facility	750,000,000
United States Dollar Credit Facility [Member] \| Amended Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	350,000,000
Secured revolving credit facility	650,000,000
Multicurrency Revolving Credit Facility [Member] \| Amended Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	75,000,000
Secured revolving credit facility	100,000,000
Short-term Debt	15,000,000
Standby Letters of Credit [Member] \| United States Dollar Credit Facility [Member] \| Amended Credit Facility [Member]
Debt Instrument [Line Items]
Short-term Debt	100,000,000
Standby Letters of Credit [Member] \| Multicurrency Revolving Credit Facility [Member] \| Amended Credit Facility [Member]
Debt Instrument [Line Items]
Short-term Debt	40,000,000
Bridge Loan [Member] \| United States Dollar Credit Facility [Member] \| Amended Credit Facility [Member]
Debt Instrument [Line Items]
Short-term Debt	$ 70,000,000

PROPERTY, PLANT, AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Property, Plant and Equipment [Line Items]
Document Period End Date	Dec. 28, 2019
Depreciation, Depletion and Amortization, Nonproduction	$ 92,200	$ 85,900	$ 81,800
Property, plant and equipment, gross	844,016	799,335
Accumulated depreciation and amortization	(523,848)	(448,898)
Property, plant, and equipment, net	320,168	350,437
Fixtures, Equipment, and Computers [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	297,930	277,321
Land, Buildings, and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	363,428	348,131
Marketing Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,160	7,001
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	10,394	18,517
Computer Software, Intangible Asset [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 161,104	$ 148,365

REVENUE RECOGNITION Wholesale Account Receivables Reserves (Tables)

12 Months Ended

Dec. 28, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Accounts Receivable Reserves

Information regarding Wholesale accounts receivable reserves is as follows:



(dollars in thousands)	Wholesale accounts receivable reserves
Balance at December 31, 2016	$	8,752
Additional provisions	8,204
Charges to reserve	(3,220		)
Balance at December 30, 2017	$	13,736
Additional provisions	30,280
Charges to reserve	(32,150		)
Balance at December 29, 2018	$	11,866
Additional provisions	9,047
Charges to reserve	(7,939		)
Balance at December 28, 2019	$	12,974

LEASES (Notes)

12 Months Ended

Dec. 28, 2019

Leases [Abstract]

LEASES

We have operating leases for retail stores, distribution centers, corporate offices, data centers, and certain equipment. Our leases have remaining lease terms of 1 year to 20 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to early terminate the lease.

As of December 28, 2019, the Company's finance leases were not material to the consolidated balance sheets, consolidated statements of operations or statement of cash flows.

The following components of lease expense are included in Selling, general and administrative expenses on the Company's consolidated statements of operations for fiscal 2019:



	For the fiscal year ended
(dollars in thousands)	December 28, 2019
Operating lease cost	$	179,982
Variable lease cost ^(*)	63,043
Net lease cost	$	243,025


(*)	Includes short-term leases, which are immaterial.

As of December 28, 2019, the weighted-average remaining operating lease term was 6.0 years and the weighted-average discount rate for operating leases was 4.35%.

For the fiscal year ended December 28, 2019, cash paid for amounts included in the measurement of operating lease liabilities was approximately $193.5 million, and non-cash transactions to recognize operating assets and liabilities for new leases was approximately $110 million.

As of December 28, 2019, the maturities of lease liabilities were as follows:



(dollars in thousands)	Operating leases
2020	$	192,986
2021	175,521
2022	151,436
2023	125,320
2024	100,923
After 2024	195,757
Total lease payments	$	941,943
Less: Interest	(117,343		)
Present value of lease liabilities^(*)	$	824,600


(*)	As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. We used the incremental borrowing rate on December 30, 2018, for operating leases that commenced prior to that date.

As of December 28, 2019, the minimum rental commitments for additional operating lease contracts that have not yet commenced, primarily for retail stores, are $18.1 million. These operating leases will commence between fiscal year 2020 and fiscal year 2023 with lease terms of 2 years to 10 years.

Minimum annual rental commitments under non-cancellable operating leases, as of December 29, 2018, substantially all of which relate to leased real estate, were as follows:



Fiscal Year	Operating Leases^(*)
2019	$	163,963
2020	150,010
2021	134,203
2022	116,773
2023	102,487
Thereafter	235,731
Total	$	903,167


(*)	Amounts are based on ASC 840, Leases that were superseded upon our adoption of ASC 842, Leases on December 30, 2018.

Rent expense under operating leases (including properties and computer and office equipment) was approximately $165.6 million and $161.9 million for the fiscal years ended December 29, 2018 and December 30, 2017, respectively.

UNAUDITED QUARTERLY FINANCIAL DATA (Tables)

12 Months Ended

Dec. 28, 2019

Quarterly Financial Information Disclosure [Abstract]

Unaudited summarized financial data

The unaudited summarized financial data by quarter for the fiscal years ended December 28, 2019 and December 29, 2018 is presented in the table below:



(dollars in thousands, except per share data)	Quarter 1		Quarter 2		Quarter 3		Quarter 4
Fiscal 2019:
Net sales	$	741,057	$	734,384	$	943,322	$	1,100,523
Gross profit	$	315,867	$	322,996	$	402,211	$	467,476
Royalty income, net	$	8,544	$	9,635	$	9,192	$	7,266
Selling, general, and administrative expenses	$	263,652	$	268,155	$	296,733	$	311,975
Intangible asset impairment	$	—	$	—	$	30,800	$	—
Operating income	$	60,759	$	64,476	$	83,870	$	162,767
Net income	$	34,466	$	43,937	$	60,252	$	125,147
Basic net income per common share⁽¹⁾	$	0.76	$	0.97	$	1.35	$	2.84
Diluted net income per common share⁽¹⁾	$	0.75	$	0.97	$	1.34	$	2.82

Fiscal 2018:
Net sales	$	755,786	$	696,197	$	923,907	$	1,086,379
Gross profit	$	332,477	$	309,958	$	387,450	$	467,598
Royalty income, net	$	7,994	$	10,355	$	10,224	$	10,357
Selling, general, and administrative expenses	$	280,162	$	263,343	$	294,117	$	307,358
Operating income	$	60,309	$	56,970	$	103,557	$	170,597
Net income	$	42,469	$	37,268	$	71,770	$	130,561
Basic net income per common share⁽¹⁾	$	0.90	$	0.80	$	1.55	$	2.85
Diluted net income per common share⁽¹⁾	$	0.89	$	0.79	$	1.53	$	2.83

(1)

May not be additive to the net income per common share amounts for the fiscal year due to the calculation provision of ASC 260, Earnings Per Share.

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Weighted-average number of common and common equivalent shares outstanding:
Basic number of common shares outstanding (in shares)									44,402,438	46,160,935	47,593,211
Dilutive effect of unvested restricted stock awards (in shares)									305,514	487,485	552,864
Diluted number of common and common equivalent shares outstanding (in shares)									44,707,952	46,648,420	48,146,075
Basic net income per common share:
Net income	$ 125,147	$ 60,252	$ 43,937	$ 34,466	$ 130,561	$ 71,770	$ 37,268	$ 42,469	$ 263,802	$ 282,068	$ 302,848
Income allocated to participating securities									(2,430)	(2,148)	(2,407)
Net income available to common shareholders									$ 261,372	$ 279,920	$ 300,441
Basic net income per common share (in dollars per share)	$ 2.84	$ 1.35	$ 0.97	$ 0.76	$ 2.85	$ 1.55	$ 0.80	$ 0.90	$ 5.89	$ 6.06	$ 6.31
Diluted net income per common share:
Net income	$ 125,147	$ 60,252	$ 43,937	$ 34,466	$ 130,561	$ 71,770	$ 37,268	$ 42,469	$ 263,802	$ 282,068	$ 302,848
Income allocated to participating securities									(2,419)	(2,132)	(2,386)
Net income available to common shareholders									$ 261,383	$ 279,936	$ 300,462
Diluted net income per common share (in dollars per share)	$ 2.82	$ 1.34	$ 0.97	$ 0.75	$ 2.83	$ 1.53	$ 0.79	$ 0.89	$ 5.85	$ 6.00	$ 6.24
Anti-dilutive shares excluded from dilutive earnings per share calculations (1)									351,777	289,839	629,944

STOCK-BASED COMPENSATION (Stock Option Activity) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 28, 2019 USD ($) $ / shares shares
Stock Options (Number of shares)
Outstanding, beginning balance (in shares) \| shares	1,447,141
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	(274,960)
Forfeited (in shares) \| shares	(38,340)
Expired (in shares) \| shares	(5,234)
Outstanding, ending balance (in shares) \| shares	1,128,607
Vested and expected to vest (in shares) \| shares	1,100,020
Exercisable (in shares) \| shares	786,542
Stock Options (Weighted-average exercise price)
Weighted- average exercise price per share beginning balance (in dollars per share) \| $ / shares	$ 74.55
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	52.70
Forfeited (in dollars per share) \| $ / shares	100.78
Expired (in dollars per share) \| $ / shares	116.42
Weighted- average exercise price per share ending balance (in dollars per share) \| $ / shares	78.78
Weighted- average exercise price per share, Vested and Expected to Vest (in dollars per share) \| $ / shares	78.10
Weighted- average exercise price per share, Exercisable (in dollars per share) \| $ / shares	$ 68.88
Weighted-average remaining contractual terms (years), Outstanding	5 years 4 months 20 days
Weighted-average remaining contractual terms (years), Vested and Expected to Vest	5 years 3 months 29 days
Weighted-average remaining contractual terms (years), Exercisable	4 years 5 months 12 days
Aggregate intrinsic value, Outstanding \| $	$ 37,343
Aggregate intrinsic value, Vested and Expected to Vest \| $	37,067
Aggregate intrinsic value, Exercisable \| $	$ 32,898

INCOME TAXES (Effective Rate Reconciliation) (Details)	12 Months Ended
INCOME TAXES (Effective Rate Reconciliation) (Details)	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Income tax rate reconciliation [Abstract]
Statutory federal income tax rate	21.00%	21.00%	35.00%
State income taxes, net of federal income tax benefit	2.50%	2.80%	2.10%
Impact of foreign operations	(2.40%)	(1.50%)	(2.70%)
Settlement of uncertain tax positions	(0.70%)	(0.40%)	(0.30%)
Benefit from stock-based compensation	(0.80%)	(1.10%)	(1.30%)
Imposition of transition tax on foreign subsidiaries	0.00%	0.00%	2.70%
Revaluation of deferred taxes	0.00%	0.00%	(12.90%)
Total	19.60%	20.80%	22.60%

COMMON STOCK (Dividends) (Details) - $ / shares		3 Months Ended					12 Months Ended
COMMON STOCK (Dividends) (Details) - $ / shares	Feb. 13, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Subsequent Event [Line Items]
Dividend declared and paid per common share		$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.45	$ 2.00	$ 1.80	$ 1.48
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend declared and paid per common share	$ 0.60