LEVI STRAUSS & CO, 10-Q filed on 4/7/2025
Quarterly Report
v3.25.1
Cover Page - shares
 3 Months Ended
Mar. 02, 2025
Mar. 31, 2025
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 02, 2025  
Document Transition Report false  
Entity File Number 001-06631  
Entity Registrant Name LEVI STRAUSS & CO  
Amendment Flag false  
Current Fiscal Year End Date --11-30  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0000094845  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 94-0905160  
Entity Address, Address Line One 1155 Battery Street  
Entity Address, City or Town San Francisco  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94111  
City Area Code 415  
Local Phone Number 501-6000  
Title of 12(b) Security Class A Common Stock, $0.001 par value per share  
Trading Symbol LEVI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Emerging Growth Company false  
Entity Small Business false  
Entity Shell Company false  
Common Class A    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   104,585,522
Common Class B    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   290,742,518
v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 02, 2025
Dec. 01, 2024
Current Assets:    
Cash and cash equivalents $ 574.4 $ 690.0
Trade receivables, net 654.9 710.0
Inventories 1,073.2 1,131.3
Other current assets 241.3 211.7
Total current assets held for sale 107.7 108.1
Total current assets 2,651.5 2,851.1
Property, plant and equipment, net 673.2 687.4
Goodwill 276.2 277.6
Other intangible assets, net 196.3 196.6
Deferred tax assets, net 800.5 798.5
Operating lease right-of-use assets, net 1,042.3 1,065.5
Other non-current assets 522.3 463.9
Non-current assets held for sale 35.9 34.9
Total assets 6,198.2 6,375.5
Current Liabilities:    
Accounts payable 556.9 663.4
Accrued salaries, wages and employee benefits 179.1 234.2
Accrued sales returns and allowances 184.0 193.4
Short-term operating lease liabilities 247.9 247.4
Other accrued liabilities 594.7 666.2
Current liabilities held for sale 6.0 5.9
Total current liabilities 1,768.6 2,010.5
Long-term debt 987.4 994.0
Long-term operating lease liabilities 916.4 943.0
Long-term employee related benefits and other liabilities 473.1 440.0
Total long-term liabilities held for sale 18.2 17.5
Total liabilities 4,163.7 4,405.0
Commitments and contingencies
Stockholders’ Equity:    
Common stock — $0.001 par value; 1,200,000,000 Class A shares authorized, 104,585,522 shares and 103,984,741 shares issued and outstanding as of March 2, 2025 and December 1, 2024, respectively; and 422,000,000 Class B shares authorized, 290,742,518 shares and 291,411,568 shares issued and outstanding, as of March 2, 2025 and December 1, 2024, respectively 0.4 0.4
Additional paid-in capital 735.7 732.6
Accumulated other comprehensive loss (427.2) (434.5)
Retained earnings 1,725.6 1,672.0
Total stockholders’ equity 2,034.5 1,970.5
Total liabilities and stockholders’ equity $ 6,198.2 $ 6,375.5
v3.25.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Mar. 02, 2025
Dec. 01, 2024
Common Class A    
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized 1,200,000,000 1,200,000,000
Common stock, shares issued 104,585,522 103,984,741
Common stock, shares outstanding 104,585,522 103,984,741
Common Class B    
Common stock, shares authorized 422,000,000 422,000,000
Common stock, shares issued 290,742,518 291,411,568
Common stock, shares outstanding 290,742,518 291,411,568
v3.25.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Income Statement [Abstract]    
Net revenues $ 1,526,800 $ 1,480,200
Cost of goods sold 579,200 610,400
Gross profit 947,600 869,800
Selling, general and administrative expenses 749,300 756,100
Restructuring charges, net 6,700 113,100
Operating income 191,600 600
Interest expense (10,900) (10,000)
Other expense, net (4,100) (2,300)
Income (loss) from continuing operations before income taxes 176,600 (11,700)
Income tax expense (benefit) 36,400 (1,900)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total 140,200 (9,800)
Net income (loss) from discontinued operations, net of taxes (5,200) (800)
Net income (loss) $ 135,000 $ (10,600)
Earnings (loss) per common share:    
Continuing operations - Basic (usd per share) $ 0.35 $ (0.03)
Discontinued operations - Basic (usd per share) (0.01) 0
Net income (loss) - Basic (usd per share) 0.34 (0.03)
Continuing operations - Diluted (usd per share) 0.35 (0.03)
Discontinued operations - Diluted (usd per share) (0.01) 0
Net income (loss) - Diluted (usd per share) $ 0.34 $ (0.03)
Weighted-average common shares outstanding:    
Basic (in shares) 396,576,662 398,941,172
Diluted (in shares) 400,046,382 398,941,172
v3.25.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Statement of Comprehensive Income [Abstract]    
Net income (loss) $ 135.0 $ (10.6)
Other comprehensive income (loss), before related income taxes:    
Pension and postretirement benefits 1.8 2.0
Derivative instruments 14.5 13.8
Foreign currency translation gains (losses) (6.8) (6.3)
Total other comprehensive income (loss), before related income taxes 9.5 9.5
Income tax benefit (expense) related to items of other comprehensive income (loss) (2.2) (1.9)
Comprehensive income (loss), net of taxes $ 142.3 $ (3.0)
v3.25.1
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Class A & Class B Common Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Nov. 26, 2023   397.3      
Beginning balance at Nov. 26, 2023 $ 2,046.4 $ 0.4 $ 686.7 $ 1,750.2 $ (390.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) from continuing operations (10.6)     (10.6)  
Other comprehensive income (loss), net of tax 7.6       7.6
Stock-based compensation and dividends, net (in shares)   2.1      
Stock-based compensation and dividends, net 18.6   18.6    
Employee stock purchase plan (in shares)   0.1      
Employee stock purchase plan $ 2.3   2.3    
Shares repurchased (in shares) (1.5) (1.5)      
Repurchase of common stock $ (25.0)     (25.0)  
Tax withholdings on equity awards (15.3)   (15.3)    
Cash dividends declared (in usd per share) (47.9)     (47.9)  
Ending Balance ( in shares) at Feb. 25, 2024   398.0      
Ending balance at Feb. 25, 2024 1,976.1 $ 0.4 692.3 1,666.7 (383.3)
Beginning balance (in shares) at Dec. 01, 2024   395.4      
Beginning balance at Dec. 01, 2024 1,970.5 $ 0.4 732.6 1,672.0 (434.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) from continuing operations 135.0     135.0  
Other comprehensive income (loss), net of tax 7.3       7.3
Stock-based compensation and dividends, net (in shares)   1.4      
Stock-based compensation and dividends, net 19.3   19.3 0.0  
Employee stock purchase plan (in shares)   0.1      
Employee stock purchase plan $ 2.1   2.1    
Shares repurchased (in shares) (1.6) (1.6)      
Repurchase of common stock $ (30.0)     (30.0)  
Tax withholdings on equity awards (18.3)   (18.3)    
Cash dividends declared (in usd per share) (51.4)     (51.4)  
Ending Balance ( in shares) at Mar. 02, 2025   395.3      
Ending balance at Mar. 02, 2025 $ 2,034.5 $ 0.4 $ 735.7 $ 1,725.6 $ (427.2)
v3.25.1
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Statement of Stockholders' Equity [Abstract]    
Cash dividends declared (in dollars per share) $ 0.13 $ 0.12
v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Cash Flows from Operating Activities:    
Net income (loss) $ 135.0 $ (10.6)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 49.2 44.6
Goodwill impairment 2.5 5.5
Property, plant, and equipment impairment, and early lease terminations, net 2.5 0.0
Stock-based compensation 19.3 18.7
Deferred income taxes (5.7) (32.7)
Other, net 14.5 3.4
Net change in operating assets and liabilities (164.8) 257.1
Net cash provided by operating activities 52.5 286.0
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (66.6) (71.6)
Payments to acquire short-term investments (4.0) 0.0
Other investing activities, net (0.5) (0.1)
Net cash used for investing activities (71.1) (71.7)
Cash Flows from Financing Activities:    
Repurchase of common stock (30.0) (25.0)
Tax withholdings on equity awards (18.3) (15.3)
Dividends to stockholders (51.4) (47.9)
Other financing activities, net 2.2 (6.3)
Net cash used for financing activities (97.5) (94.5)
Effect of exchange rate changes on cash and cash equivalents and restricted cash 0.5 (1.9)
Net increase (decrease) in cash and cash equivalents and restricted cash (115.6) 117.9
Beginning cash and cash equivalents 690.0 398.8
Ending cash and cash equivalents 574.4 516.7
Noncash Investing Activity:    
Property, plant and equipment acquired and not yet paid at end of period 36.3 26.3
Supplemental disclosure of cash flow information:    
Cash paid for income taxes during the period, net of refunds $ 18.7 $ 17.4
v3.25.1
Significant Accounting Policies
 3 Months Ended
Mar. 02, 2025
Accounting Policies [Abstract]  
SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations
Levi Strauss & Co. (the “Company”) is one of the world’s largest brand-name apparel companies. The Company designs, markets and sells – directly or through third parties and licensees – products that include jeans, casual and dress pants, activewear, tops, shorts, skirts, jackets and related accessories for men, women and children around the world under the Levi’s®, Levi Strauss Signature™, Denizen®, Dockers® and Beyond Yoga® brands. In the first quarter of 2024 we announced the strategic decision to discontinue the Denizen® brand. In the fourth quarter of 2024 we announced we were undertaking an evaluation of strategic alternatives to the global Dockers® business, including a sale or other strategic transactions. During the first quarter of 2025, the Company commenced a sale process of its Dockers® business with the target of completing a transaction in fiscal year 2025. At the end of the first quarter of 2025, the Company determined that the Dockers® business met held for sale and discontinued operations accounting criteria. Accordingly, Dockers® net assets were classified as held for sale in the consolidated balance sheets for all periods presented. Additionally, the Company classified the Dockers® business as discontinued operations in its consolidated statements of operations for all periods presented. See Note 2. “Discontinued Operations”. The Dockers® business is a separate operating segment historically presented in our financial statements under the caption of Other Brands.
The Company operates its business according to three reportable segments: Americas, Europe, and Asia, collectively comprising the Company's Levi's Brands business, which includes the Levi's®, Levi Strauss Signature™ and Denizen® brands. The Beyond Yoga® business, which is managed separately, does not meet the quantitative thresholds for reportable segments but is presented separately to increase transparency of performance.
Basis of Presentation and Principles of Consolidation
The interim consolidated financial statements of the Company and its wholly-owned and majority-owned foreign and domestic subsidiaries, including the notes, have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) applicable to interim period financial statements and do not include all of the information and disclosures required by generally accepted accounting principles in the United States (“U.S. GAAP”) for complete financial statements. In the opinion of management, all adjustments necessary for a fair statement of the financial position and the results of operations for the periods presented have been included. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 1, 2024, included in the Company’s 2024 Annual Report on Form 10-K.
The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated. The results of operations for the three months ended March 2, 2025 may not be indicative of the results to be expected for any other interim period or the year ending November 30, 2025.
The Company’s fiscal year ends on the Sunday that is closest to November 30 of that year, although the fiscal years of certain foreign subsidiaries end on November 30. Each quarter of both fiscal years 2025 and 2024 consists of 13 weeks, with the exception of the fourth quarter of 2024, which consisted of 14 weeks. All references to years and quarters relate to fiscal years and quarters rather than calendar years and quarters.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the related notes to the consolidated financial statements. Estimates are based upon historical factors, current circumstances and the experience and judgment of the Company’s management. Management evaluates its estimates and assumptions on an ongoing basis and may employ outside experts to assist in its evaluations. Changes in such estimates, based on more accurate future information, or different assumptions or conditions, may affect amounts reported in future periods.
Distribution Center Conversion
On June 6, 2024, the Company entered into an agreement with a third party logistics provider to replace the Company’s Canton, Mississippi distribution center with a new distribution center. The Company maintains certain rights over the warehouse, and warehouse equipment and technologies which resulted in an Operating lease right-of-use asset and lease liability of $30.6 million in “Operating lease right-of-use assets, net” and “Short-term Operating lease liabilities” and “Long-term Operating lease liabilities” balances and a Financing lease right-of-use asset and lease liability of $14.0 million in “Other non-current assets” and “Long-term employee related benefits and other liabilities” balances on the consolidated balance sheets during 2024. In the first quarter of 2025 , the Company recorded a Financing lease right-of-use asset and lease liability of $61.6 million in “Other non-current assets” and “Long-term employee related benefits and other liabilities” balances on the consolidated balance sheets.
Long-Lived Assets
The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may be impaired. Impairment losses are measured and recorded for the excess of carrying value over its fair value, estimated based on expected future cash flows and other quantitative and qualitative factors. Property, plant and equipment, net includes accumulated depreciation of $1.4 billion and $1.3 billion as of March 2, 2025 and December 1, 2024, respectively.
Supplier Finance Program
The Company offers a supplier financing program which enables the Company’s suppliers, at their sole discretion, to sell their receivables (i.e., the Company’s payment obligations to suppliers) to a financial institution on a non-recourse basis in order to be paid earlier than current payment terms provide.
The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by the supplier’s participation in these arrangements. The Company’s payment terms to the financial institutions, including the timing and amount of payments, are based on the original supplier invoices. Our current payment terms with a majority of our suppliers are typically 90 days. The Company has not pledged any assets and does not provide guarantees under the supplier finance program. As such, the outstanding payment obligations under the Company’s supplier finance program are included within Accounts Payable in the Consolidated Balance Sheets.
The Company’s outstanding payment obligations under this program were $130.1 million as of March 2, 2025 and $152.2 million as of December 1, 2024.
Share Repurchases
During the three months ended March 2, 2025, the Company repurchased 1.6 million shares for $30.0 million, plus broker’s commissions, in the open market. This equates to an average repurchase price of approximately $18.45 per share. During the three months ended February 25, 2024, the Company repurchased 1.5 million shares for $24.9 million, plus broker's commissions, in the open market. This equates to an average repurchase price of approximately $17.15 per share.
The Company accounts for share repurchases by charging the excess of the repurchase price over the repurchased Class A common stock’s par value entirely to retained earnings. All repurchased shares are retired and become authorized but unissued shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. The Company may terminate or limit the share repurchase program at any time.
Assets Held for Sale and Discontinued Operations
Assets and liabilities of a business that meet the accounting requirements to be classified as held for sale are separated in a disposal group. Disposal group net assets are recorded at the lower of their carrying amount or estimated fair value less expected costs to sell. After being classified as held for sale, assets are not depreciated or amortized.
Assets and liabilities of a disposal group that meet the accounting requirements to be classified as discontinued operations are presented separately for all current and prior periods in the consolidated balance sheets. The results of discontinued operations are reported in income (loss) from discontinued operations, net of taxes in the consolidated statements of income
(loss) for the current and prior periods beginning in the period in which the business meets the held for sale criteria. Income (loss) from discontinued operations includes direct costs attributable to the business held for sale, and an estimate of costs from corporate functions dedicated to the business, but excludes corporate expenses composed of selling, general and administrative expenses not attributable to any of the operating segments. See Note 2. “Discontinued Operations”.
Unless otherwise indicated, the information in the notes to the consolidated financial statements refers only
to the Company’s continuing operations.
Reclassification
Certain amounts on the consolidated balance sheets, consolidated statements of operations and statements of cash flows have been conformed to the March 2, 2025 presentation.
Recently Issued Accounting Standards
There have been no developments to recently issued accounting standards, including the expected dates of adoption and estimated effects on the Company’s consolidated financial statements and footnote disclosures, from those disclosed in the 2024 Annual Report on Form 10-K. The Company will adopt ASU 2023-07, Improvements to Reportable Segment Disclosures, in the fourth quarter of 2025. This new guidance is designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements.
v3.25.1
Discontinued Operations
 3 Months Ended
Mar. 02, 2025
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
In the fourth quarter of 2024 the Company announced it was undertaking an evaluation of strategic alternatives to the global Dockers® business, including a sale or other strategic transactions. During the first quarter of 2025, the Company commenced a sale process of its Dockers® business with the target of completing a transaction in fiscal year 2025.
As of March 2, 2025, the Company determined that the Dockers® business met held for sale and discontinued operations accounting criteria. Accordingly, Dockers® net assets were classified as held for sale in the consolidated balance sheets for all periods presented. The Dockers® net assets were classified as current and non-current. Additionally, the Company classified the Dockers® business as discontinued operations in its consolidated statements of operations for all periods presented.
The following table presents the assets and liabilities held for sale:
March 2,
2025		December 1,
2024
 (Dollars in millions)
Current Assets:
Inventories$107.7 $108.1 
Total current assets held for sale
107.7 108.1 
Property, plant and equipment, net10.8 11.3 
Operating lease right-of-use assets, net25.1 23.6 
Total non-current assets held for sale
35.9 34.9 
Total assets held for sale
$143.6 $143.0 
Current Liabilities:
Short-term operating lease liabilities
$6.0 $5.9 
Total current liabilities held for sale
6.0 5.9 
Long-term operating lease liabilities18.2 17.5 
Total long-term liabilities held for sale
18.2 17.5 
Total liabilities held for sale
$24.2 $23.4 
The following table presents the results of discontinued operations:
 Three Months Ended
 March 2,
2025		February 25,
2024
(Dollars in millions)
Net revenues$67.4 $77.4 
Cost of goods sold31.0 40.7 
Gross profit36.4 36.7 
Selling, general and administrative expenses41.5 34.6 
Restructuring charges, net(1)
1.8 3.1 
Net loss from discontinued operations before income taxes
(6.9)(1.0)
Income tax benefit
(1.7)(0.2)
Net loss from discontinued operations, net of taxes
$(5.2)$(0.8)
____________
(1)Restructuring charges, net previously attributable to corporate expenses were reported as discontinued operations for the three months ended February 25, 2024.

Cash flows related to discontinued operations are included in the consolidated statements of cash flows. Depreciation and amortization included in discontinued operations was $1.1 million and $1.0 million for the three months ended March 2, 2025 and February 25, 2024, respectively. There were no significant operating noncash items or investing activities cash flows from discontinued operations during the three months ended March 2, 2025 and February 25, 2024.
v3.25.1
Fair Value of Financial Instruments
 3 Months Ended
Mar. 02, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS FAIR VALUE OF FINANCIAL INSTRUMENTS
The following table presents the Company’s financial instruments that are carried at fair value:
 March 2, 2025December 1, 2024
  Fair Value Estimated
Using		 Fair Value Estimated
Using
 Fair Value
Level 1 Inputs(1)
Level 2 Inputs(2)
Fair Value
Level 1 Inputs(1)
Level 2 Inputs(2)
 (Dollars in millions)
Financial assets carried at fair value
Rabbi trust assets$95.0 $95.0 $— $95.4 $95.4 $— 
Derivative instruments(3)
16.5 — 16.5 17.6 — 17.6 
Total$111.5 $95.0 $16.5 $113.0 $95.4 $17.6 
Financial liabilities carried at fair value
Derivative instruments(3)
13.6 — 13.6 9.5 — 9.5 
Total$13.6 $— $13.6 $9.5 $— $9.5 
_____________
(1)Fair values estimated using Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Rabbi trust assets consist of marketable equity securities.
(2)Fair values estimated using Level 2 inputs are inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly, and include among other things, quoted prices for similar assets or liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable. For forward foreign exchange contracts, inputs include foreign currency exchange and interest rates and, where applicable, credit default swap prices.
(3)The Company’s cash flow hedges are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis. Refer to Note 4 for more information.
The following table presents the carrying value, including related accrued interest, and estimated fair value of the Company’s financial instruments that are carried at adjusted historical cost:
 March 2, 2025December 1, 2024
 Carrying
Value		Estimated Fair
 Value		Carrying
Value		Estimated Fair
 Value
 (Dollars in millions)
Financial liabilities carried at adjusted historical cost
3.375% senior notes due 2027(1)
$499.9 $498.7 $502.5 $498.1 
3.50% senior notes due 2031(1)
495.5 441.0 499.6 440.8 
Short-term borrowings6.1 6.1 5.5 5.5 
Total$1,001.5 $945.8 $1,007.6 $944.4 
_____________
(1)Fair values are estimated using Level 2 inputs and incorporate mid-market price quotes. Level 2 inputs are inputs other than quoted prices, that are observable for the liability, either directly or indirectly and include among other things, quoted prices for similar liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable.
v3.25.1
Derivative Instruments and Hedging Activities
 3 Months Ended
Mar. 02, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
As of March 2, 2025, the Company had forward foreign exchange contracts derivatives to buy $763.1 million and to sell $643.0 million in various foreign currencies. These contracts are at various exchange rates and expire at various dates through May 2026.
The table below provides data about the carrying values of derivative and non-derivative instruments: 
 March 2, 2025December 1, 2024
 Assets(Liabilities)Derivative
Net Carrying
Value		Assets(Liabilities)Derivative
Net Carrying
Value
 Carrying
Value		Carrying
Value		Carrying
Value		Carrying
Value
 (Dollars in millions)
Derivatives designated as hedging instruments
Foreign exchange risk cash flow hedges(1)
$15.6 $— $15.6 $15.6 $— $15.6 
Foreign exchange risk cash flow hedges(2)
— (6.5)(6.5)— (4.7)(4.7)
Total
$15.6 $(6.5)$15.6 $(4.7)
Derivatives not designated as hedging instruments
Forward foreign exchange contracts(1)
$16.5 $(15.6)$0.9 $17.6 $(15.6)$2.0 
Forward foreign exchange contracts(2)
6.5 (13.6)(7.1)4.7 (9.5)(4.8)
Total
$23.0 $(29.2)$22.3 $(25.1)
Non-derivatives designated as hedging instruments
Euro senior notes
$— $(493.9)$— $(500.9)
_____________
(1)Included in “Other current assets” or “Other non-current assets” on the Company’s consolidated balance sheets.
(2)Included in “Other accrued liabilities” or “Long-term employee related benefits and other liabilities” on the Company’s consolidated balance sheets.
The Company’s over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis; however, the Company records the fair value on a gross basis on its consolidated balance sheets based on maturity dates, including those subject to master netting arrangements.
The table below presents the gross and net amounts of these contracts recognized on the Company’s consolidated balance sheets by type of financial instrument:
March 2, 2025December 1, 2024
Gross Amounts of Assets / (Liabilities)
Presented in the Balance Sheet		Gross Amounts
Not Offset in the Balance Sheet		Net Amounts
of Assets / (Liabilities)		Gross Amounts of Assets / (Liabilities)
Presented in the Balance Sheet		Gross Amounts
Not Offset in the Balance Sheet		Net Amounts
of Assets / (Liabilities)
(Dollars in millions)
Foreign exchange risk contracts and forward foreign exchange contracts
Financial assets$38.6 $(16.9)$21.7 $37.9 $(11.0)$26.9 
Financial liabilities(35.7)16.9 (18.8)(29.9)11.0 (18.9)
Total$2.9 $8.0 
The table below provides data about the amount of gains and losses related to derivative instruments and non-derivative instruments designated as cash flow and net investment hedges included in “Accumulated other comprehensive loss” (“AOCL”) on the Company’s consolidated balance sheets, and in “Other expense, net” in the Company’s consolidated statements of operations:
 
Amount of (Loss) Gain
Recognized in AOCL
(Effective Portion)
Amount of (Loss) Gain Reclassified from
 AOCL into Net Income (Loss)(1)
 
As of
March 2,
2025
As of
December 1,
 2024
Three Months Ended
March 2,
2025		February 25,
2024
 (Dollars in millions)
Foreign exchange risk contracts$17.7 $10.2 $(2.4)$(11.3)
Realized forward foreign exchange swaps(2)
4.6 4.6 — — 
Yen-denominated Eurobonds(19.8)(19.8)— — 
Euro-denominated senior notes(6.8)(13.8)— — 
Cumulative income taxes6.7 9.8 — — 
Total$2.4 $(9.0)
_____________
(1)Amounts reclassified from AOCL were classified as net revenues or costs of goods sold on the consolidated statements of operations.
(2)Prior to 2006, the Company used foreign exchange currency swaps to hedge the net investment in its foreign operations. For hedges that qualified for hedge accounting, the net gains were included in AOCL and are not reclassified to earnings until the related net investment position has been liquidated.
There was no hedge ineffectiveness for the three months ended March 2, 2025. Within the next 12 months, a $16.3 million gain from cash flow hedges is expected to be reclassified from AOCL into net income (loss).
The table below presents the effects of the Company’s cash flow hedges of foreign exchange risk contracts on the consolidated statements of operations:
Three Months Ended
March 2,
2025		February 25,
2024
(Dollars in millions)
Amount of (Loss) Gain on Cash Flow Hedge Activity:
Net revenues$(1.5)$(1.6)
Cost of goods sold$(0.9)$(9.7)
The table below provides data about the amount of gains and losses related to derivative instruments included in “Other expense, net” in the Company’s consolidated statements of operations:
 Three Months Ended
 March 2,
2025		February 25,
2024
(Dollars in millions)
Forward foreign exchange contracts:
Realized (loss) gain(1)
$(5.3)$2.9 
Unrealized (loss) gain
(5.5)(3.0)
Total$(10.8)$(0.1)
_____________
(1)The realized gain (loss) is included in “Other, net” under cash flows from operating activities on the Company’s consolidated statements of cash flows.
v3.25.1
Other Accrued Liabilities
 3 Months Ended
Mar. 02, 2025
Other Liabilities Disclosure [Abstract]  
Other Accrued Liabilities OTHER ACCRUED LIABILITIES
The following table presents the Company’s other accrued liabilities:
March 2,
2025		December 1,
2024
 (Dollars in millions)
Other accrued liabilities
Accrued non-trade payables$143.5 $188.9 
Restructuring liabilities64.7 69.8 
Accrued income taxes63.8 40.3 
Accrued advertising and promotion59.1 64.1 
Taxes other than income taxes payable56.5 69.0 
Accrued property, plant and equipment36.3 65.4 
Fair value derivatives13.6 9.5 
Accrued rent9.1 9.2 
Accrued interest payable8.2 8.3 
Short-term debt6.1 5.5 
Other133.8 136.2 
Total other accrued liabilities$594.7 $666.2 
v3.25.1
Debt
 3 Months Ended
Mar. 02, 2025
Debt Disclosure [Abstract]  
DEBT DEBT 
The following table presents the Company’s debt: 
March 2,
2025		December 1,
2024
 (Dollars in millions)
Long-term debt
3.375% senior notes due 2027
$492.0 $498.8 
3.50% senior notes due 2031
495.4 495.2 
Total long-term debt$987.4 $994.0 
Short-term debt
Short-term borrowings6.1 5.5 
Total debt$993.5 $999.5 

Senior Revolving Credit Facility
As of March 2, 2025, the Company had no borrowings under the Credit Facility. The Company’s unused availability under the Credit Facility was $792.6 million at March 2, 2025, as the total availability of $813.3 million was reduced by $20.7 million of letters of credit and other credit usage allocated under the Credit Facility.
Interest Rates on Borrowings
The Company’s weighted-average interest rate on average borrowings outstanding during the three months ended March 2, 2025 was 4.23%, as compared to 3.91% during the same period of 2024.
v3.25.1
Restructuring Activities
 3 Months Ended
Mar. 02, 2025
Restructuring and Related Activities [Abstract]  
RESTRUCTURING ACTIVITIES RESTRUCTURING ACTIVITIES
In the first quarter of 2024, the Company’s Board of Directors (the "Board") approved a multi-year global productivity initiative, “Project Fuel”, designed to accelerate the execution of our Brand Led and DTC First strategies while fueling long-term profitable growth. The first phase of the global productivity initiative was completed primarily in the first half of 2024. The two-year initiative is expected to continue through the end of 2025. As this initiative progresses, the Company may incur additional restructuring charges, which could be significant to a future fiscal quarter or year.
For the three months ended March 2, 2025, the Company recognized restructuring charges of $6.7 million in connection with Project Fuel, consisting primarily of severance and other post-employment benefits, based on separation benefits provided by Company policy or statutory benefit plans as well as contract termination costs and asset impairments. These charges were recorded in “Restructuring charges, net” in the consolidated statements of operations. As of March 2, 2025, the restructuring liability was $85.6 million, with $64.7 million and $20.9 million classified as “Other accrued liabilities” and “Long-term employee related benefits and other liabilities”, respectively, within the Company’s consolidated balance sheet.
The Company also recognized $3.1 million of restructuring related charges during the three months ended March 2, 2025, primarily consisting of consulting fees, which were recorded in “Selling, general and administrative expenses” in the consolidated statements of operations.
For the three months ended February 25, 2024, the Company recognized net restructuring charges of $113.1 million consisting primarily of severance and other post-employment benefits, based on separation benefits provided by Company policy or statutory benefit plans. These charges were recorded in “Restructuring charges, net” in the consolidated statements of operations.
The Company also recognized $10.1 million of restructuring related charges during the three months ended February 25, 2024, primarily consulting fees, and $5.5 million in goodwill impairment charges related to our footwear business as a result of the decision to discontinue the category. The charges were recorded in “Selling, general and administrative expenses” in the consolidated statements of operations.
The following tables summarize the activities associated with restructuring liabilities for the periods presented. "Net Charges (Reversals)" represents the initial charge related to the restructuring activity as well as revisions of estimates related to severance and employee-related benefits and other, "Payments" consists of cash payments for severance and employee-related benefits and other, and "Foreign Currency Fluctuations" includes foreign currency fluctuations.
 
Three Months Ended March 2, 2025
 Liabilities
Net Charges (Reversals)(1)
Payments
Foreign Currency Fluctuations		Liabilities
December 1,
2024		March 2,
2025
 
(Dollars in millions)
Severance and employee-related benefits
$83.7 $3.9 $(23.5)$(0.3)$63.8 
Contract termination costs and other
20.7 1.7 (0.5)(0.1)21.8 
Total
$104.4 $5.6 $(24.0)$(0.4)$85.6 
_____________
(1)Excludes $0.8 million in stock compensation related charges recorded in Additional paid-in capital and $2.1 million recorded in Property, plant and equipment, net related to impairment charges associated with the closure of distribution centers. Includes $1.8 million of Dockers® restructuring costs reported as discontinued operations.

 
Three Months Ended February 25, 2024
 Liabilities
Net Charges (Reversals)(1)
Payments
Foreign Currency Fluctuations		Liabilities
November 26,
2023		February 25,
2024
 
(Dollars in millions)
Severance and employee-related benefits
$17.8 $113.4 $(8.4)$0.2 $123.0 
Contract termination costs and other
0.2 — (0.1)(0.1)— 
Total
$18.0 $113.4 $(8.5)$0.1 $123.0 
_____________
(1)Excludes $2.0 million in stock compensation related charges recorded in Additional paid-in capital and $0.8 million in operating lease termination. Includes $3.1 million of Dockers® restructuring costs reported as discontinued operations.
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 02, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Forward Foreign Exchange Contracts
The Company uses over-the-counter derivative instruments to manage its exposure to foreign currencies. The Company is exposed to credit loss in the event of nonperformance by the counterparties to the forward foreign exchange contracts. However, the Company believes that its exposures are appropriately diversified across counterparties and that these counterparties are creditworthy financial institutions. See Note 4 for additional information.
Other Contingencies
Litigation. In the ordinary course of business, the Company has various claims, complaints and pending cases, including contractual matters, facility and employee-related matters, distribution matters, product liability matters, intellectual property matters, bankruptcy preference matters, and tax and administrative matters. The Company establishes loss provisions for these ordinary course claims as well as other matters in which losses are probable and can be reasonably estimated. The Company does not believe any of these pending claims, complaints and legal proceedings will have a material impact on its financial condition, results of operations or cash flows.
Customs Duty Audits. The Company imports both raw materials and finished garments into all of its geographic regions and, as such, is subject to numerous countries’ complex customs laws and regulations with respect to its import and export activity. The Company has various pending audit assessments in connection with these activities. As of March 2, 2025, the Company has recorded certain reserves for these matters which are not material. The Company does not believe any of the claims for customs duty and related charges will have a material impact on its financial condition, results of operations or cash flows.
v3.25.1
Dividends
 3 Months Ended
Mar. 02, 2025
Dividends [Abstract]  
DIVIDENDS DIVIDENDS
Dividends are declared at the discretion of the Board. In January 2025 and 2024, the Company declared cash dividends of $0.13 and $0.12 per share, respectively, to holders of record of its Class A and Class B common stock. During the three months ended March 2, 2025, dividends were paid in the amount of $51.4 million compared to $47.9 million for the same prior-year period.
The Company does not have an established dividend policy. The Board reviews the Company’s ability to pay dividends on an ongoing basis and establishes the dividend amount based on the Company’s financial condition, results of operations, capital requirements, current and projected cash flows and other factors, and any restrictions related to the terms of the Company’s debt agreements.
Subsequent to the Company’s quarter end, the Board declared a cash dividend of $0.13 per share to holders of record of its Class A and Class B common stock at the close of business on April 24, 2025, for a total quarterly dividend of approximately $51 million.
v3.25.1
Accumulated Other Comprehensive Loss
 3 Months Ended
Mar. 02, 2025
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS ACCUMULATED OTHER COMPREHENSIVE LOSS
The following is a summary of the components of "Accumulated other comprehensive loss," net of related income taxes: 
Three Months Ended March 2, 2025
Pension and
Postretirement
Benefits(1)
Translation Adjustments
Derivative Instruments(2)
Foreign
Currency
Translation		Total
(Dollars in millions)
Accumulated other comprehensive loss at December 1, 2024
$(141.2)$(9.0)$(284.3)$(434.5)
Other comprehensive (loss) income before reclassifications(0.5)9.0 (5.4)3.1 
Amounts reclassified from accumulated other comprehensive loss1.8 2.4 — 4.2 
Net increase (decrease) in other comprehensive (loss) income 1.3 11.4 (5.4)7.3 
Accumulated other comprehensive loss at March 2, 2025
$(139.9)$2.4 $(289.7)$(427.2)
___________
(1)Amounts reclassified were recorded in “Other expense, net”.
(2)Amounts reclassified were recorded within “Net revenues” and “Cost of goods sold”. For more information, refer to Note 4.
Three Months Ended February 25, 2024
Pension and
Postretirement
Benefits(1)
Translation Adjustments
Derivative Instruments(2)
Foreign
Currency
Translation		Total
(Dollars in millions)
Accumulated other comprehensive loss at November 26, 2023
$(153.2)$(42.0)$(195.7)$(390.9)
Other comprehensive (loss) income before reclassifications(0.5)0.4 (5.6)(5.7)
Amounts reclassified from accumulated other comprehensive loss2.0 11.3 — 13.3 
Net increase (decrease) in other comprehensive income (loss) 1.5 11.7 (5.6)7.6 
Accumulated other comprehensive loss at February 25, 2024
$(151.7)$(30.3)$(201.3)$(383.3)
_____________
(1)Amounts reclassified were recorded in “Other expense, net”.
(2)Amounts reclassified were recorded within “Net revenues” and “Cost of goods sold”. For more information, refer to Note 4.
v3.25.1
Net Revenues
 3 Months Ended
Mar. 02, 2025
Revenue from Contract with Customer [Abstract]  
Net Revenues NET REVENUES
Disaggregated Revenue
The table below provides the Company’s revenues disaggregated by segment and channel.
Three Months Ended March 2, 2025
Levi’s Brands
AmericasEuropeAsia
Beyond Yoga®
Total
(Dollars in millions)
Net revenues by channel:
Wholesale$422.2 $170.2 $135.0 $11.9 $739.3 
Direct-to-consumer360.8 230.3 173.1 23.3 787.5 
Total net revenues$783.0 $400.5 $308.1 $35.2 $1,526.8 
Three Months Ended February 25, 2024
Levi’s Brands
AmericasEuropeAsia
Beyond Yoga®
Total
(Dollars in millions)
Net revenues by channel:
Wholesale$407.8 $207.0 $132.3 $11.3 $758.4 
Direct-to-consumer328.0 216.5 156.5 20.8 721.8 
Total net revenues$735.8 $423.5 $288.8 $32.1 $1,480.2 
The Company did not have any material contract assets or contract liabilities recorded in the consolidated balance sheets as of March 2, 2025 and December 1, 2024
v3.25.1
Income Taxes
 3 Months Ended
Mar. 02, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s effective income tax rate was 20.6% for the three months ended March 2, 2025, compared to 15.9% for the same prior-year period. The increase in the effective tax rate in the current quarter is primarily driven by an unfavorable impact of stock-based compensation as a proportion to pre-tax earnings, as well as a lower tax deduction from foreign-derived intangible income.
The Organization for Economic Cooperation and Development reached agreement among over 140 countries to implement a minimum 15% tax rate on certain multinational enterprises, commonly referred to as Pillar Two. Many countries continue to announce changes in their tax laws and regulations based on the Pillar Two framework. The Company determined that Pillar Two did not have a material impact to our tax provision for the three months ended March 2, 2025. We will continue to evaluate the impact of legislative changes as additional guidance becomes available.
v3.25.1
Earnings (Loss) Per Share
 3 Months Ended
Mar. 02, 2025
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE EARNINGS (LOSS) PER SHARE
The following table sets forth the computation of the Company’s basic and diluted earnings (loss) per share:
 Three Months Ended
 March 2,
2025		February 25,
2024
 (Dollars in millions, except per share amounts)
Numerator:
Net income (loss) from continuing operations
$140.2 $(9.8)
Net income (loss) from discontinued operations, net of taxes
(5.2)(0.8)
Net income (loss)$135.0 $(10.6)
Denominator:
Weighted-average common shares outstanding - basic396,576,662 398,941,172 
Dilutive effect of stock awards3,469,720 — 
Weighted-average common shares outstanding - diluted400,046,382 398,941,172 
Earnings (loss) per common share:
Continuing operations - Basic
$0.35 $(0.03)
Discontinued operations - Basic
(0.01)— 
Net income (loss) - Basic
$0.34 $(0.03)
Continuing operations - Diluted
$0.35 $(0.03)
Discontinued operations - Diluted
(0.01)— 
Net income (loss) - Diluted
$0.34 $(0.03)
Anti-dilutive securities excluded from calculation of diluted earnings (loss) per share
3,911,185 — 
Diluted net earnings (loss) per common share for the three months ended February 25, 2024 excluded all potentially dilutive securities because there was a net loss for the period and, as such, the inclusion of these securities would have been anti-dilutive. Potentially dilutive securities excluded from the calculation of diluted earnings (loss) per common share were 15.9 million shares for the three months ended February 25, 2024.
v3.25.1
Related Parties
 3 Months Ended
Mar. 02, 2025
Related Party Transactions [Abstract]  
RELATED PARTIES RELATED PARTIES
Michelle Gass (President and Chief Executive Officer) and David Jedrzejek (Senior Vice President and General Counsel) are members of the Board of Directors of the Levi Strauss Foundation, which is an independent non-profit entity that is not one of our consolidated entities. Mr. Jedrzejek also serves as a Vice President of the Levi Strauss Foundation. During the three months ended March 2, 2025, the Company donated $4.4 million to the Levi Strauss Foundation as compared to $4.8 million for the same prior-year period. During the three months ended March 2, 2025, the Company recognized expenses related to their donation commitments of $0.8 million as compared to $2.0 million for the same prior-year period.
v3.25.1
Business Segment Information
 3 Months Ended
Mar. 02, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
The Company manages its business according to three reportable segments: Americas, Europe, and Asia, collectively comprising the Company’s Levi’s Brands business, which includes Levi’s®, Levi Strauss Signature™ and Denizen® brands. The Beyond Yoga® business is managed separately. Corporate expenses are comprised of selling, general and administrative expenses that management does not attribute to any of our operating segments and these expenses primarily relate to corporate administration, information resources, finance and human resources functional and organizational costs. In the first quarter of 2024 we announced the strategic decision to discontinue the Denizen® brand with operations winding down during fiscal year 2024 and into 2025. The wind down of Denizen® brand operations was substantially complete at March 2, 2025. At the end of the first quarter of 2025, the Company determined that the Dockers® business met held for sale and discontinued operations accounting criteria. Accordingly, the Company classified the Dockers® business as discontinued operations in its consolidated statements of operations for all periods presented and excluded the business from segment results for all periods presented. See Note 2. “Discontinued Operations”.
The Company considers its chief executive officer to be its chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the segments’ net revenues and operating income.
Business segment information for the Company is as follows: 
 Three Months Ended
 March 2,
2025		February 25,
2024
 (Dollars in millions)
Net revenues:
Americas$783.0 $735.8 
Europe400.5 423.5 
Asia308.1 288.8 
Total segment net revenues1,491.6 1,448.1 
Beyond Yoga®
35.2 32.1 
Total net revenues$1,526.8 $1,480.2 
Income (loss) from continuing operations before income taxes:
Americas$169.7 $132.4 
Europe102.4 103.5 
Asia57.9 48.5 
Total segment operating income330.0 284.4 
Beyond Yoga operating (loss) income
(3.1)(0.9)
Restructuring charges, net(1)
(6.7)(113.1)
Corporate expenses(2)
(128.6)(169.8)
Interest expense(10.9)(10.0)
Other expense, net(2)
(4.1)(2.3)
Income (loss) from continuing operations before income taxes
$176.6 $(11.7)
____________
(1)Restructuring charges, net for the three months ended March 2, 2025 consisted primarily of severance and other post-employment benefit charges, and asset impairment and contract termination costs in connection with Project Fuel.
Restructuring charges, net for the three months ended February 25, 2024 consisted primarily of severance and other post-employment benefit charges in connection with Project Fuel.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Pay vs Performance Disclosure    
Net income (loss) $ 135.0 $ (10.6)
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 02, 2025
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
During the first quarter ended March 2, 2025, none of our directors or officers (as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) adopted or terminated a “Rule 10b5-1 trading
arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Item 408 of Regulation S-K, except as described in the table below:
Name and Title
Action
Applicable Date
Duration of Trading Arrangements
Rule 10b5-1 Trading Arrangement?
 (Y/N)*
Aggregate Number of Securities Subject to Trading Arrangement
David Jedrzejek
Senior Vice President and General Counsel
Adopt
February 12, 2025
February 12, 2025 - February 11, 2026
Y
Up to 15,000 shares of Class A Common Stock
_____________
* Denotes whether the trading plan is intended, when adopted, to satisfy the affirmative defense of Rule 10b5-1(c).
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
David Jedrzejek [Member]  
Trading Arrangements, by Individual  
Name David Jedrzejek
Title Senior Vice President and General Counsel
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 12, 2025
Expiration Date 2/11/2026
Aggregate Available 15,000
Harmit Singh [Member]  
Trading Arrangements, by Individual  
Arrangement Duration 364 days
v3.25.1
Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 02, 2025
Accounting Policies [Abstract]  
Consolidated entities policy The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated.
Fiscal period
The Company’s fiscal year ends on the Sunday that is closest to November 30 of that year, although the fiscal years of certain foreign subsidiaries end on November 30. Each quarter of both fiscal years 2025 and 2024 consists of 13 weeks, with the exception of the fourth quarter of 2024, which consisted of 14 weeks. All references to years and quarters relate to fiscal years and quarters rather than calendar years and quarters.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the related notes to the consolidated financial statements. Estimates are based upon historical factors, current circumstances and the experience and judgment of the Company’s management. Management evaluates its estimates and assumptions on an ongoing basis and may employ outside experts to assist in its evaluations. Changes in such estimates, based on more accurate future information, or different assumptions or conditions, may affect amounts reported in future periods.
Long-Lived Assets
Long-Lived Assets
The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may be impaired. Impairment losses are measured and recorded for the excess of carrying value over its fair value, estimated based on expected future cash flows and other quantitative and qualitative factors. Property, plant and equipment, net includes accumulated depreciation of $1.4 billion and $1.3 billion as of March 2, 2025 and December 1, 2024, respectively.
Supplier Finance Program
Supplier Finance Program
The Company offers a supplier financing program which enables the Company’s suppliers, at their sole discretion, to sell their receivables (i.e., the Company’s payment obligations to suppliers) to a financial institution on a non-recourse basis in order to be paid earlier than current payment terms provide.
The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by the supplier’s participation in these arrangements. The Company’s payment terms to the financial institutions, including the timing and amount of payments, are based on the original supplier invoices. Our current payment terms with a majority of our suppliers are typically 90 days. The Company has not pledged any assets and does not provide guarantees under the supplier finance program. As such, the outstanding payment obligations under the Company’s supplier finance program are included within Accounts Payable in the Consolidated Balance Sheets.
Shares Repurchases
Share Repurchases
During the three months ended March 2, 2025, the Company repurchased 1.6 million shares for $30.0 million, plus broker’s commissions, in the open market. This equates to an average repurchase price of approximately $18.45 per share. During the three months ended February 25, 2024, the Company repurchased 1.5 million shares for $24.9 million, plus broker's commissions, in the open market. This equates to an average repurchase price of approximately $17.15 per share.
The Company accounts for share repurchases by charging the excess of the repurchase price over the repurchased Class A common stock’s par value entirely to retained earnings. All repurchased shares are retired and become authorized but unissued shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. The Company may terminate or limit the share repurchase program at any time.
Discontinued Operations, Policy
Assets Held for Sale and Discontinued Operations
Assets and liabilities of a business that meet the accounting requirements to be classified as held for sale are separated in a disposal group. Disposal group net assets are recorded at the lower of their carrying amount or estimated fair value less expected costs to sell. After being classified as held for sale, assets are not depreciated or amortized.
Assets and liabilities of a disposal group that meet the accounting requirements to be classified as discontinued operations are presented separately for all current and prior periods in the consolidated balance sheets. The results of discontinued operations are reported in income (loss) from discontinued operations, net of taxes in the consolidated statements of income
(loss) for the current and prior periods beginning in the period in which the business meets the held for sale criteria. Income (loss) from discontinued operations includes direct costs attributable to the business held for sale, and an estimate of costs from corporate functions dedicated to the business, but excludes corporate expenses composed of selling, general and administrative expenses not attributable to any of the operating segments. See Note 2. “Discontinued Operations”.
Unless otherwise indicated, the information in the notes to the consolidated financial statements refers only
to the Company’s continuing operations.
Reclassification
Reclassification
Certain amounts on the consolidated balance sheets, consolidated statements of operations and statements of cash flows have been conformed to the March 2, 2025 presentation.
Recently Issued Accounting Standards
Recently Issued Accounting Standards
There have been no developments to recently issued accounting standards, including the expected dates of adoption and estimated effects on the Company’s consolidated financial statements and footnote disclosures, from those disclosed in the 2024 Annual Report on Form 10-K. The Company will adopt ASU 2023-07, Improvements to Reportable Segment Disclosures, in the fourth quarter of 2025. This new guidance is designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements.
v3.25.1
Discontinued Operations (Tables)
 3 Months Ended
Mar. 02, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Assets and Liabilities Held for Sale
The following table presents the assets and liabilities held for sale:
March 2,
2025		December 1,
2024
 (Dollars in millions)
Current Assets:
Inventories$107.7 $108.1 
Total current assets held for sale
107.7 108.1 
Property, plant and equipment, net10.8 11.3 
Operating lease right-of-use assets, net25.1 23.6 
Total non-current assets held for sale
35.9 34.9 
Total assets held for sale
$143.6 $143.0 
Current Liabilities:
Short-term operating lease liabilities
$6.0 $5.9 
Total current liabilities held for sale
6.0 5.9 
Long-term operating lease liabilities18.2 17.5 
Total long-term liabilities held for sale
18.2 17.5 
Total liabilities held for sale
$24.2 $23.4 
The following table presents the results of discontinued operations:
 Three Months Ended
 March 2,
2025		February 25,
2024
(Dollars in millions)
Net revenues$67.4 $77.4 
Cost of goods sold31.0 40.7 
Gross profit36.4 36.7 
Selling, general and administrative expenses41.5 34.6 
Restructuring charges, net(1)
1.8 3.1 
Net loss from discontinued operations before income taxes
(6.9)(1.0)
Income tax benefit
(1.7)(0.2)
Net loss from discontinued operations, net of taxes
$(5.2)$(0.8)
____________
(1)Restructuring charges, net previously attributable to corporate expenses were reported as discontinued operations for the three months ended February 25, 2024.
Results of Discontinued Operations
The following table presents the assets and liabilities held for sale:
March 2,
2025		December 1,
2024
 (Dollars in millions)
Current Assets:
Inventories$107.7 $108.1 
Total current assets held for sale
107.7 108.1 
Property, plant and equipment, net10.8 11.3 
Operating lease right-of-use assets, net25.1 23.6 
Total non-current assets held for sale
35.9 34.9 
Total assets held for sale
$143.6 $143.0 
Current Liabilities:
Short-term operating lease liabilities
$6.0 $5.9 
Total current liabilities held for sale
6.0 5.9 
Long-term operating lease liabilities18.2 17.5 
Total long-term liabilities held for sale
18.2 17.5 
Total liabilities held for sale
$24.2 $23.4 
The following table presents the results of discontinued operations:
 Three Months Ended
 March 2,
2025		February 25,
2024
(Dollars in millions)
Net revenues$67.4 $77.4 
Cost of goods sold31.0 40.7 
Gross profit36.4 36.7 
Selling, general and administrative expenses41.5 34.6 
Restructuring charges, net(1)
1.8 3.1 
Net loss from discontinued operations before income taxes
(6.9)(1.0)
Income tax benefit
(1.7)(0.2)
Net loss from discontinued operations, net of taxes
$(5.2)$(0.8)
____________
(1)Restructuring charges, net previously attributable to corporate expenses were reported as discontinued operations for the three months ended February 25, 2024.
v3.25.1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 02, 2025
Fair Value Disclosures [Abstract]  
Financial assets and liabilities carried at fair value
The following table presents the Company’s financial instruments that are carried at fair value:
 March 2, 2025December 1, 2024
  Fair Value Estimated
Using		 Fair Value Estimated
Using
 Fair Value
Level 1 Inputs(1)
Level 2 Inputs(2)
Fair Value
Level 1 Inputs(1)
Level 2 Inputs(2)
 (Dollars in millions)
Financial assets carried at fair value
Rabbi trust assets$95.0 $95.0 $— $95.4 $95.4 $— 
Derivative instruments(3)
16.5 — 16.5 17.6 — 17.6 
Total$111.5 $95.0 $16.5 $113.0 $95.4 $17.6 
Financial liabilities carried at fair value
Derivative instruments(3)
13.6 — 13.6 9.5 — 9.5 
Total$13.6 $— $13.6 $9.5 $— $9.5 
_____________
(1)Fair values estimated using Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Rabbi trust assets consist of marketable equity securities.
(2)Fair values estimated using Level 2 inputs are inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly, and include among other things, quoted prices for similar assets or liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable. For forward foreign exchange contracts, inputs include foreign currency exchange and interest rates and, where applicable, credit default swap prices.
(3)The Company’s cash flow hedges are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis. Refer to Note 4 for more information.
Financial liabilities carried at adjusted historical cost
The following table presents the carrying value, including related accrued interest, and estimated fair value of the Company’s financial instruments that are carried at adjusted historical cost:
 March 2, 2025December 1, 2024
 Carrying
Value		Estimated Fair
 Value		Carrying
Value		Estimated Fair
 Value
 (Dollars in millions)
Financial liabilities carried at adjusted historical cost
3.375% senior notes due 2027(1)
$499.9 $498.7 $502.5 $498.1 
3.50% senior notes due 2031(1)
495.5 441.0 499.6 440.8 
Short-term borrowings6.1 6.1 5.5 5.5 
Total$1,001.5 $945.8 $1,007.6 $944.4 
_____________
(1)Fair values are estimated using Level 2 inputs and incorporate mid-market price quotes. Level 2 inputs are inputs other than quoted prices, that are observable for the liability, either directly or indirectly and include among other things, quoted prices for similar liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable.
v3.25.1
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 02, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Carrying values of derivative instruments and non-derivative instruments
The table below provides data about the carrying values of derivative and non-derivative instruments: 
 March 2, 2025December 1, 2024
 Assets(Liabilities)Derivative
Net Carrying
Value		Assets(Liabilities)Derivative
Net Carrying
Value
 Carrying
Value		Carrying
Value		Carrying
Value		Carrying
Value
 (Dollars in millions)
Derivatives designated as hedging instruments
Foreign exchange risk cash flow hedges(1)
$15.6 $— $15.6 $15.6 $— $15.6 
Foreign exchange risk cash flow hedges(2)
— (6.5)(6.5)— (4.7)(4.7)
Total
$15.6 $(6.5)$15.6 $(4.7)
Derivatives not designated as hedging instruments
Forward foreign exchange contracts(1)
$16.5 $(15.6)$0.9 $17.6 $(15.6)$2.0 
Forward foreign exchange contracts(2)
6.5 (13.6)(7.1)4.7 (9.5)(4.8)
Total
$23.0 $(29.2)$22.3 $(25.1)
Non-derivatives designated as hedging instruments
Euro senior notes
$— $(493.9)$— $(500.9)
_____________
(1)Included in “Other current assets” or “Other non-current assets” on the Company’s consolidated balance sheets.
(2)Included in “Other accrued liabilities” or “Long-term employee related benefits and other liabilities” on the Company’s consolidated balance sheets.
Offsetting assets and liabilities
The Company’s over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis; however, the Company records the fair value on a gross basis on its consolidated balance sheets based on maturity dates, including those subject to master netting arrangements.
The table below presents the gross and net amounts of these contracts recognized on the Company’s consolidated balance sheets by type of financial instrument:
March 2, 2025December 1, 2024
Gross Amounts of Assets / (Liabilities)
Presented in the Balance Sheet		Gross Amounts
Not Offset in the Balance Sheet		Net Amounts
of Assets / (Liabilities)		Gross Amounts of Assets / (Liabilities)
Presented in the Balance Sheet		Gross Amounts
Not Offset in the Balance Sheet		Net Amounts
of Assets / (Liabilities)
(Dollars in millions)
Foreign exchange risk contracts and forward foreign exchange contracts
Financial assets$38.6 $(16.9)$21.7 $37.9 $(11.0)$26.9 
Financial liabilities(35.7)16.9 (18.8)(29.9)11.0 (18.9)
Total$2.9 $8.0 
Gains and losses included in AOCI
The table below provides data about the amount of gains and losses related to derivative instruments and non-derivative instruments designated as cash flow and net investment hedges included in “Accumulated other comprehensive loss” (“AOCL”) on the Company’s consolidated balance sheets, and in “Other expense, net” in the Company’s consolidated statements of operations:
 
Amount of (Loss) Gain
Recognized in AOCL
(Effective Portion)
Amount of (Loss) Gain Reclassified from
 AOCL into Net Income (Loss)(1)
 
As of
March 2,
2025
As of
December 1,
 2024
Three Months Ended
March 2,
2025		February 25,
2024
 (Dollars in millions)
Foreign exchange risk contracts$17.7 $10.2 $(2.4)$(11.3)
Realized forward foreign exchange swaps(2)
4.6 4.6 — — 
Yen-denominated Eurobonds(19.8)(19.8)— — 
Euro-denominated senior notes(6.8)(13.8)— — 
Cumulative income taxes6.7 9.8 — — 
Total$2.4 $(9.0)
_____________
(1)Amounts reclassified from AOCL were classified as net revenues or costs of goods sold on the consolidated statements of operations.
(2)Prior to 2006, the Company used foreign exchange currency swaps to hedge the net investment in its foreign operations. For hedges that qualified for hedge accounting, the net gains were included in AOCL and are not reclassified to earnings until the related net investment position has been liquidated.
Gains and losses included in statements of income
The table below presents the effects of the Company’s cash flow hedges of foreign exchange risk contracts on the consolidated statements of operations:
Three Months Ended
March 2,
2025		February 25,
2024
(Dollars in millions)
Amount of (Loss) Gain on Cash Flow Hedge Activity:
Net revenues$(1.5)$(1.6)
Cost of goods sold$(0.9)$(9.7)
The table below provides data about the amount of gains and losses related to derivative instruments included in “Other expense, net” in the Company’s consolidated statements of operations:
 Three Months Ended
 March 2,
2025		February 25,
2024
(Dollars in millions)
Forward foreign exchange contracts:
Realized (loss) gain(1)
$(5.3)$2.9 
Unrealized (loss) gain
(5.5)(3.0)
Total$(10.8)$(0.1)
_____________
(1)The realized gain (loss) is included in “Other, net” under cash flows from operating activities on the Company’s consolidated statements of cash flows.
v3.25.1
Other Accrued Liabilities (Tables)
 3 Months Ended
Mar. 02, 2025
Other Liabilities Disclosure [Abstract]  
Other Liabilities
The following table presents the Company’s other accrued liabilities:
March 2,
2025		December 1,
2024
 (Dollars in millions)
Other accrued liabilities
Accrued non-trade payables$143.5 $188.9 
Restructuring liabilities64.7 69.8 
Accrued income taxes63.8 40.3 
Accrued advertising and promotion59.1 64.1 
Taxes other than income taxes payable56.5 69.0 
Accrued property, plant and equipment36.3 65.4 
Fair value derivatives13.6 9.5 
Accrued rent9.1 9.2 
Accrued interest payable8.2 8.3 
Short-term debt6.1 5.5 
Other133.8 136.2 
Total other accrued liabilities$594.7 $666.2 
v3.25.1
Debt (Tables)
 3 Months Ended
Mar. 02, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The following table presents the Company’s debt: 
March 2,
2025		December 1,
2024
 (Dollars in millions)
Long-term debt
3.375% senior notes due 2027
$492.0 $498.8 
3.50% senior notes due 2031
495.4 495.2 
Total long-term debt$987.4 $994.0 
Short-term debt
Short-term borrowings6.1 5.5 
Total debt$993.5 $999.5 
v3.25.1
Restructuring Activities (Tables)
 3 Months Ended
Mar. 02, 2025
Restructuring and Related Activities [Abstract]  
Summary of Activities Associated with Restructuring Liabilities
The following tables summarize the activities associated with restructuring liabilities for the periods presented. "Net Charges (Reversals)" represents the initial charge related to the restructuring activity as well as revisions of estimates related to severance and employee-related benefits and other, "Payments" consists of cash payments for severance and employee-related benefits and other, and "Foreign Currency Fluctuations" includes foreign currency fluctuations.
 
Three Months Ended March 2, 2025
 Liabilities
Net Charges (Reversals)(1)
Payments
Foreign Currency Fluctuations		Liabilities
December 1,
2024		March 2,
2025
 
(Dollars in millions)
Severance and employee-related benefits
$83.7 $3.9 $(23.5)$(0.3)$63.8 
Contract termination costs and other
20.7 1.7 (0.5)(0.1)21.8 
Total
$104.4 $5.6 $(24.0)$(0.4)$85.6 
_____________
(1)Excludes $0.8 million in stock compensation related charges recorded in Additional paid-in capital and $2.1 million recorded in Property, plant and equipment, net related to impairment charges associated with the closure of distribution centers. Includes $1.8 million of Dockers® restructuring costs reported as discontinued operations.

 
Three Months Ended February 25, 2024
 Liabilities
Net Charges (Reversals)(1)
Payments
Foreign Currency Fluctuations		Liabilities
November 26,
2023		February 25,
2024
 
(Dollars in millions)
Severance and employee-related benefits
$17.8 $113.4 $(8.4)$0.2 $123.0 
Contract termination costs and other
0.2 — (0.1)(0.1)— 
Total
$18.0 $113.4 $(8.5)$0.1 $123.0 
_____________
(1)Excludes $2.0 million in stock compensation related charges recorded in Additional paid-in capital and $0.8 million in operating lease termination. Includes $3.1 million of Dockers® restructuring costs reported as discontinued operations.
v3.25.1
Accumulated Other Comprehensive Loss (Tables)
 3 Months Ended
Mar. 02, 2025
Equity [Abstract]  
Schedule of accumulated other comprehensive loss
The following is a summary of the components of "Accumulated other comprehensive loss," net of related income taxes: 
Three Months Ended March 2, 2025
Pension and
Postretirement
Benefits(1)
Translation Adjustments
Derivative Instruments(2)
Foreign
Currency
Translation		Total
(Dollars in millions)
Accumulated other comprehensive loss at December 1, 2024
$(141.2)$(9.0)$(284.3)$(434.5)
Other comprehensive (loss) income before reclassifications(0.5)9.0 (5.4)3.1 
Amounts reclassified from accumulated other comprehensive loss1.8 2.4 — 4.2 
Net increase (decrease) in other comprehensive (loss) income 1.3 11.4 (5.4)7.3 
Accumulated other comprehensive loss at March 2, 2025
$(139.9)$2.4 $(289.7)$(427.2)
___________
(1)Amounts reclassified were recorded in “Other expense, net”.
(2)Amounts reclassified were recorded within “Net revenues” and “Cost of goods sold”. For more information, refer to Note 4.
Three Months Ended February 25, 2024
Pension and
Postretirement
Benefits(1)
Translation Adjustments
Derivative Instruments(2)
Foreign
Currency
Translation		Total
(Dollars in millions)
Accumulated other comprehensive loss at November 26, 2023
$(153.2)$(42.0)$(195.7)$(390.9)
Other comprehensive (loss) income before reclassifications(0.5)0.4 (5.6)(5.7)
Amounts reclassified from accumulated other comprehensive loss2.0 11.3 — 13.3 
Net increase (decrease) in other comprehensive income (loss) 1.5 11.7 (5.6)7.6 
Accumulated other comprehensive loss at February 25, 2024
$(151.7)$(30.3)$(201.3)$(383.3)
_____________
(1)Amounts reclassified were recorded in “Other expense, net”.
(2)Amounts reclassified were recorded within “Net revenues” and “Cost of goods sold”. For more information, refer to Note 4.
v3.25.1
Net Revenues (Tables)
 3 Months Ended
Mar. 02, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The table below provides the Company’s revenues disaggregated by segment and channel.
Three Months Ended March 2, 2025
Levi’s Brands
AmericasEuropeAsia
Beyond Yoga®
Total
(Dollars in millions)
Net revenues by channel:
Wholesale$422.2 $170.2 $135.0 $11.9 $739.3 
Direct-to-consumer360.8 230.3 173.1 23.3 787.5 
Total net revenues$783.0 $400.5 $308.1 $35.2 $1,526.8 
Three Months Ended February 25, 2024
Levi’s Brands
AmericasEuropeAsia
Beyond Yoga®
Total
(Dollars in millions)
Net revenues by channel:
Wholesale$407.8 $207.0 $132.3 $11.3 $758.4 
Direct-to-consumer328.0 216.5 156.5 20.8 721.8 
Total net revenues$735.8 $423.5 $288.8 $32.1 $1,480.2 
v3.25.1
Earnings (Loss) Per Share (Tables)
 3 Months Ended
Mar. 02, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of the Company’s basic and diluted earnings (loss) per share:
 Three Months Ended
 March 2,
2025		February 25,
2024
 (Dollars in millions, except per share amounts)
Numerator:
Net income (loss) from continuing operations
$140.2 $(9.8)
Net income (loss) from discontinued operations, net of taxes
(5.2)(0.8)
Net income (loss)$135.0 $(10.6)
Denominator:
Weighted-average common shares outstanding - basic396,576,662 398,941,172 
Dilutive effect of stock awards3,469,720 — 
Weighted-average common shares outstanding - diluted400,046,382 398,941,172 
Earnings (loss) per common share:
Continuing operations - Basic
$0.35 $(0.03)
Discontinued operations - Basic
(0.01)— 
Net income (loss) - Basic
$0.34 $(0.03)
Continuing operations - Diluted
$0.35 $(0.03)
Discontinued operations - Diluted
(0.01)— 
Net income (loss) - Diluted
$0.34 $(0.03)
Anti-dilutive securities excluded from calculation of diluted earnings (loss) per share
3,911,185 — 
v3.25.1
Business Segment Information (Tables)
 3 Months Ended
Mar. 02, 2025
Segment Reporting [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Business segment information for the Company is as follows: 
 Three Months Ended
 March 2,
2025		February 25,
2024
 (Dollars in millions)
Net revenues:
Americas$783.0 $735.8 
Europe400.5 423.5 
Asia308.1 288.8 
Total segment net revenues1,491.6 1,448.1 
Beyond Yoga®
35.2 32.1 
Total net revenues$1,526.8 $1,480.2 
Income (loss) from continuing operations before income taxes:
Americas$169.7 $132.4 
Europe102.4 103.5 
Asia57.9 48.5 
Total segment operating income330.0 284.4 
Beyond Yoga operating (loss) income
(3.1)(0.9)
Restructuring charges, net(1)
(6.7)(113.1)
Corporate expenses(2)
(128.6)(169.8)
Interest expense(10.9)(10.0)
Other expense, net(2)
(4.1)(2.3)
Income (loss) from continuing operations before income taxes
$176.6 $(11.7)
____________
(1)Restructuring charges, net for the three months ended March 2, 2025 consisted primarily of severance and other post-employment benefit charges, and asset impairment and contract termination costs in connection with Project Fuel.
Restructuring charges, net for the three months ended February 25, 2024 consisted primarily of severance and other post-employment benefit charges in connection with Project Fuel.
(2)$3.1 million benefit related to incentive compensation for the Dockers business was reclassified from Corporate expenses to SG&A within discontinued operations for the three months ended February 25, 2024.
v3.25.1
Significant Accounting Policies - Narrative (Details)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 02, 2025
USD ($)
segment
$ / shares
shares
Feb. 25, 2024
USD ($)
$ / shares
shares
Dec. 01, 2024
USD ($)
Jun. 06, 2024
USD ($)
Business Acquisition [Line Items]        
Number of reportable segments | segment 3      
Operating lease right-of-use assets, net $ 1,042.3   $ 1,065.5  
Finance lease, right-of-use asset 61.6      
Finance lease, liability 61.6      
Accumulated depreciation 1,400.0   1,300.0  
Supplier finance program obligations $ 130.1   $ 152.2  
Shares repurchased (in shares) | shares 1.6 1.5    
Repurchased value $ 30.0 $ 24.9    
Average repurchase price (in dollars per share) | $ / shares $ 18.45 $ 17.15    
Warehouse, Warehouse Equipment, And Technologies        
Business Acquisition [Line Items]        
Operating lease right-of-use assets, net       $ 30.6
Operating lease liability       30.6
Finance lease, right-of-use asset       14.0
Finance lease, liability       $ 14.0
v3.25.1
Discontinued Operations - Assets and Liabilities (Details) - USD ($)
$ in Millions
Mar. 02, 2025
Dec. 01, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Total current assets held for sale $ 107.7 $ 108.1
Total non-current assets held for sale 35.9 34.9
Total current liabilities held for sale 6.0 5.9
Total long-term liabilities held for sale 18.2 17.5
Dockers | Disposal Group, Held-for-Sale or Disposed of by Sale, Not Discontinued Operations    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Inventories 107.7 108.1
Total current assets held for sale 107.7 108.1
Property, plant and equipment, net 10.8 11.3
Operating lease right-of-use assets, net 25.1 23.6
Total non-current assets held for sale 35.9 34.9
Total assets held for sale 143.6 143.0
Short-term operating lease liabilities 6.0 5.9
Total current liabilities held for sale 6.0 5.9
Long-term operating lease liabilities 18.2 17.5
Total long-term liabilities held for sale 18.2 17.5
Total liabilities held for sale $ 24.2 $ 23.4
v3.25.1
Discontinued Operations - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Dockers | Disposal Group, Held-for-Sale or Disposed of by Sale, Not Discontinued Operations    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Depreciation and amortization $ 1.1 $ 1.0
v3.25.1
Discontinued Operations Results of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Net loss from discontinued operations, net of taxes $ (5.2) $ (0.8)
Dockers | Disposal Group, Held-for-Sale or Disposed of by Sale, Not Discontinued Operations    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Net revenues 67.4 77.4
Cost of goods sold 31.0 40.7
Gross profit 36.4 36.7
Selling, general and administrative expenses 41.5 34.6
Restructuring charges, net 1.8 3.1
Net loss from discontinued operations before income taxes (6.9) (1.0)
Income tax benefit (1.7) (0.2)
Net loss from discontinued operations, net of taxes $ (5.2) $ (0.8)
v3.25.1
Fair Value of Financial Instruments- Fair Value (Details) - Fair Value - Fair Value, Recurring - USD ($)
$ in Millions
Mar. 02, 2025
Dec. 01, 2024
Financial assets carried at fair value    
Rabbi trust assets $ 95.0 $ 95.4
Forward foreign exchange contracts 16.5 17.6
Total 111.5 113.0
Financial liabilities carried at fair value    
Forward foreign exchange contracts 13.6 9.5
Total 13.6 9.5
Level 1 Inputs    
Financial assets carried at fair value    
Rabbi trust assets 95.0 95.4
Forward foreign exchange contracts 0.0 0.0
Total 95.0 95.4
Financial liabilities carried at fair value    
Forward foreign exchange contracts 0.0 0.0
Total 0.0 0.0
Level 2 Inputs    
Financial assets carried at fair value    
Rabbi trust assets 0.0 0.0
Forward foreign exchange contracts 16.5 17.6
Total 16.5 17.6
Financial liabilities carried at fair value    
Forward foreign exchange contracts 13.6 9.5
Total $ 13.6 $ 9.5
v3.25.1
Fair Value of Financial Instruments - Adjusted Historical Cost (Details) - USD ($)
$ in Millions
Mar. 02, 2025
Dec. 01, 2024
Senior Notes | 3.375% Senior Notes Due 2027    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Stated interest rate 3.375%  
Senior Notes | 3.50% Senior Notes Due 2031    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Stated interest rate 3.50%  
Fair Value, Recurring | Carrying Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term debt carried at adjusted historical cost $ 6.1 $ 5.5
Total financial liabilities carried at adjusted historical cost 1,001.5 1,007.6
Fair Value, Recurring | Carrying Value | Senior Notes | 3.375% Senior Notes Due 2027    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt carried at adjusted historical cost 499.9 502.5
Fair Value, Recurring | Carrying Value | Senior Notes | 3.50% Senior Notes Due 2031    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt carried at adjusted historical cost 495.5 499.6
Fair Value, Recurring | Estimated Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term debt carried at adjusted historical cost 6.1 5.5
Total financial liabilities carried at adjusted historical cost 945.8 944.4
Fair Value, Recurring | Estimated Fair Value | Senior Notes | 3.375% Senior Notes Due 2027    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt carried at adjusted historical cost 498.7 498.1
Fair Value, Recurring | Estimated Fair Value | Senior Notes | 3.50% Senior Notes Due 2031    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt carried at adjusted historical cost $ 441.0 $ 440.8
v3.25.1
Derivative Instruments and Hedging Activities - Balance Sheet (Details) - USD ($)
$ in Millions
Mar. 02, 2025
Dec. 01, 2024
Carrying Value | Designated as Hedging Instrument [Member] | Bonds | Euro Senior Notes    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Hedging assets $ 0.0 $ 0.0
Hedging liabilities (493.9) (500.9)
Forward foreign exchange contracts    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative asset, gross asset 38.6 37.9
Derivative asset, gross liability (16.9) (11.0)
Derivative asset, net 21.7 26.9
Derivative liability, gross asset 16.9 11.0
Derivative liability, gross liability (35.7) (29.9)
Derivative liability, net (18.8) (18.9)
Net Amounts of Assets / (Liabilities) 2.9 8.0
Forward foreign exchange contracts | Carrying Value | Designated as Hedging Instrument [Member] | Cash Flow Hedging    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative asset, net 15.6 15.6
Derivative liability, net (6.5) (4.7)
Forward foreign exchange contracts | Carrying Value | Designated as Hedging Instrument [Member] | Other non-current assets [Member] | Cash Flow Hedging    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative asset, gross asset 15.6 15.6
Derivative asset, gross liability 0.0 0.0
Forward foreign exchange contracts | Carrying Value | Designated as Hedging Instrument [Member] | Other long-term liabilities [Member] | Cash Flow Hedging    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative liability, gross asset 0.0 0.0
Derivative liability, gross liability (6.5) (4.7)
Forward foreign exchange contracts | Carrying Value | Designated as Hedging Instrument [Member] | Other non-current assets [Member] | Cash Flow Hedging    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative asset, Net Carrying Value 15.6 15.6
Forward foreign exchange contracts | Carrying Value | Designated as Hedging Instrument [Member] | Other long-term liabilities [Member] | Cash Flow Hedging    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative liability, Net Carrying Value (6.5) (4.7)
Forward foreign exchange contracts | Carrying Value | Not Designated as Hedging Instrument [Member]    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative asset, net 23.0 22.3
Derivative liability, net (29.2) (25.1)
Forward foreign exchange contracts | Carrying Value | Not Designated as Hedging Instrument [Member] | Other non-current assets [Member]    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative asset, gross asset 16.5 17.6
Derivative asset, gross liability (15.6) (15.6)
Derivative asset, Net Carrying Value 0.9 2.0
Forward foreign exchange contracts | Carrying Value | Not Designated as Hedging Instrument [Member] | Other long-term liabilities [Member]    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Derivative liability, gross asset 6.5 4.7
Derivative liability, gross liability (13.6) (9.5)
Derivative liability, Net Carrying Value (7.1) $ (4.8)
Long [Member]    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Foreign exchange contracts 763.1  
Short [Member]    
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]    
Foreign exchange contracts $ 643.0  
v3.25.1
Derivative Instruments and Hedging Activities - Income Statement (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Dec. 01, 2024
Amount of (Loss) Gain Recognized in AOCL (Effective Portion)      
Cumulative income taxes, gain or (loss) recognized in AOCI $ 6.7   $ 9.8
Total, gain or (loss) recognized in AOCI 2.4   (9.0)
Amount of Gain (Loss) Reclassified from AOCI into Net Income      
Cumulative income taxes, gain or (loss) reclassified from AOCI 0.0 $ 0.0  
Forward foreign exchange contracts      
Amount of (Loss) Gain Recognized in AOCL (Effective Portion)      
Forward foreign exchange contracts, gain or (loss) recognized in AOCI 17.7   10.2
Amount of Gain (Loss) Reclassified from AOCI into Net Income      
Forward foreign exchange contracts, gain or (loss) reclassified from AOCI (2.4) (11.3)  
Forward foreign exchange contracts      
Amount of (Loss) Gain Recognized in AOCL (Effective Portion)      
Forward foreign exchange contracts, gain or (loss) recognized in AOCI 4.6   4.6
Amount of Gain (Loss) Reclassified from AOCI into Net Income      
Forward foreign exchange contracts, gain or (loss) reclassified from AOCI 0.0 0.0  
Yen-denominated Eurobonds | Bonds      
Amount of (Loss) Gain Recognized in AOCL (Effective Portion)      
Non-derivative hedging instruments-gain or (loss) recognized in AOCI (19.8)   (19.8)
Amount of Gain (Loss) Reclassified from AOCI into Net Income      
Non-derivative hedging instruments, gain or (loss) reclassified from AOCI 0.0 0.0  
Euro Senior Notes | Senior Notes      
Amount of (Loss) Gain Recognized in AOCL (Effective Portion)      
Non-derivative hedging instruments-gain or (loss) recognized in AOCI (6.8)   $ (13.8)
Amount of Gain (Loss) Reclassified from AOCI into Net Income      
Non-derivative hedging instruments, gain or (loss) reclassified from AOCI $ 0.0 $ 0.0  
v3.25.1
Derivative Instruments and Hedging Activities - Realized & Unrealized (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Loss from cash flow hedges expected to be reclassified from AOCL into net income within the next 12 months $ (16.3)  
Revenues    
Derivative Instruments, Gain (Loss) [Line Items]    
Amount of Gain (Loss) on Cash Flow Hedge Activity (1.5) $ (1.6)
Cost of Goods Sold    
Derivative Instruments, Gain (Loss) [Line Items]    
Amount of Gain (Loss) on Cash Flow Hedge Activity (0.9) (9.7)
Forward foreign exchange contracts | Other Income    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized (5.3) 2.9
Unrealized (5.5) (3.0)
Total $ (10.8) $ (0.1)
v3.25.1
Other Accrued Liabilities (Details) - USD ($)
$ in Millions
Mar. 02, 2025
Dec. 01, 2024
Other Liabilities Disclosure [Abstract]    
Accrued non-trade payables $ 143.5 $ 188.9
Restructuring liabilities 64.7 69.8
Accrued income taxes 63.8 40.3
Accrued advertising and promotion 59.1 64.1
Taxes other than income taxes payable 56.5 69.0
Accrued property, plant and equipment 36.3 65.4
Fair value derivatives 13.6 9.5
Accrued rent 9.1 9.2
Accrued interest payable 8.2 8.3
Short-term debt 6.1 5.5
Other 133.8 136.2
Total other accrued liabilities $ 594.7 $ 666.2
v3.25.1
Debt - Summary (Details) - USD ($)
$ in Millions
Mar. 02, 2025
Dec. 01, 2024
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term debt $ 987.4 $ 994.0
Short-term debt 6.1 5.5
Total debt $ 993.5 999.5
3.375% Senior Notes Due 2027 | Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Stated interest rate 3.375%  
Long-term debt $ 492.0 498.8
3.50% Senior Notes Due 2031 | Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Stated interest rate 3.50%  
Long-term debt $ 495.4 495.2
Borrowings    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Short-term debt $ 6.1 $ 5.5
v3.25.1
Debt - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Dec. 01, 2024
Debt Instruments [Line Items]      
Short-term debt $ 6,100,000   $ 5,500,000
Weighted-average interest rate 4.23% 3.91%  
Senior revolving credit facility | Line of Credit      
Debt Instruments [Line Items]      
Short-term debt $ 0    
Senior revolving credit facility      
Debt Instruments [Line Items]      
Letter of credit limit 792,600,000    
Total availability 813,300,000    
Letters of credit and other credit usage $ 20,700,000    
v3.25.1
Restructuring Activities - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Dec. 01, 2024
Nov. 26, 2023
Restructuring Cost and Reserve [Line Items]        
Restructuring charges, net $ 6,700 $ 113,100    
Restructuring reserve 85,600      
Restructuring reserve recorded in other accrued liabilities $ 64,700   $ 69,800  
Goodwill impairment   5,500    
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Selling, general and administrative expenses      
Project Fuel        
Restructuring Cost and Reserve [Line Items]        
Restructuring reserve $ 85,600 123,000 104,400 $ 18,000
Restructuring reserve recorded in other accrued liabilities 64,700      
Restructuring reserve recorded in long-term employee related benefits and other liabilities 20,900      
Project Fuel | Severance and employee-related benefits        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges, net 6,700 113,100    
Restructuring reserve 63,800 123,000 $ 83,700 $ 17,800
Project Fuel | Consulting Fees And Other        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges, net $ 3,100 $ 10,100    
v3.25.1
Restructuring Activities - Restructuring Liabilities (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Restructuring Reserve [Roll Forward]    
Restructuring charges, net $ 6.7 $ 113.1
Restructuring Reserve, Ending Balance 85.6  
Stock-based compensation and dividends, net 19.3 18.6
Project Fuel    
Restructuring Reserve [Roll Forward]    
Restructuring Reserve, Beginning Balance 104.4 18.0
Restructuring charges, net 5.6 113.4
Payments (24.0) (8.5)
Foreign Currency Fluctuations (0.4) 0.1
Restructuring Reserve, Ending Balance 85.6 123.0
Stock-based compensation and dividends, net 0.8 2.0
Loss on operating lease termination 2.1 0.8
Project Fuel | Dockers | Discontinued Operations, Held-for-Sale    
Restructuring Reserve [Roll Forward]    
Restructuring charges, net 1.8 3.1
Project Fuel | Severance and employee-related benefits    
Restructuring Reserve [Roll Forward]    
Restructuring Reserve, Beginning Balance 83.7 17.8
Restructuring charges, net 3.9 113.4
Payments (23.5) (8.4)
Foreign Currency Fluctuations (0.3) 0.2
Restructuring Reserve, Ending Balance 63.8 123.0
Project Fuel | Contract termination costs and other    
Restructuring Reserve [Roll Forward]    
Restructuring Reserve, Beginning Balance 20.7 0.2
Restructuring charges, net 1.7 0.0
Payments (0.5) (0.1)
Foreign Currency Fluctuations (0.1) (0.1)
Restructuring Reserve, Ending Balance $ 21.8 $ 0.0
v3.25.1
Dividends (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Apr. 24, 2025
Mar. 02, 2025
Feb. 25, 2024
Class of Stock [Line Items]      
Cash dividends declared (in dollars per share)   $ 0.13 $ 0.12
Dividend to stockholders   $ 51.4 $ 47.9
Subsequent Event      
Class of Stock [Line Items]      
Dividend, fix amount (in dollars per share) $ 0.13    
Dividends, common stock $ 51.0    
v3.25.1
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Other comprehensive (loss) income before reclassifications $ 3.1 $ (5.7)
Amounts reclassified from accumulated other comprehensive loss 4.2 13.3
Net increase (decrease) in other comprehensive (loss) income 7.3 7.6
Accumulated Other Comprehensive Loss    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated other comprehensive (loss) income at beginning period (434.5) (390.9)
Accumulated other comprehensive (loss) income at ending period (427.2) (383.3)
Pension and Postretirement Benefits    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated other comprehensive (loss) income at beginning period (141.2) (153.2)
Other comprehensive (loss) income before reclassifications (0.5) (0.5)
Amounts reclassified from accumulated other comprehensive loss 1.8 2.0
Net increase (decrease) in other comprehensive (loss) income 1.3 1.5
Accumulated other comprehensive (loss) income at ending period (139.9) (151.7)
Derivative Instruments    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated other comprehensive (loss) income at beginning period (9.0) (42.0)
Other comprehensive (loss) income before reclassifications 9.0 0.4
Amounts reclassified from accumulated other comprehensive loss 2.4 11.3
Net increase (decrease) in other comprehensive (loss) income 11.4 11.7
Accumulated other comprehensive (loss) income at ending period 2.4 (30.3)
Foreign Currency Translation    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated other comprehensive (loss) income at beginning period (284.3) (195.7)
Other comprehensive (loss) income before reclassifications (5.4) (5.6)
Amounts reclassified from accumulated other comprehensive loss 0.0 0.0
Net increase (decrease) in other comprehensive (loss) income (5.4) (5.6)
Accumulated other comprehensive (loss) income at ending period $ (289.7) $ (201.3)
v3.25.1
Net Revenues - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Disaggregation of Revenue [Line Items]    
Net revenues $ 1,526.8 $ 1,480.2
Wholesale    
Disaggregation of Revenue [Line Items]    
Net revenues 739.3 758.4
Direct-to-consumer    
Disaggregation of Revenue [Line Items]    
Net revenues 787.5 721.8
Americas    
Disaggregation of Revenue [Line Items]    
Net revenues 783.0 735.8
Americas | Wholesale    
Disaggregation of Revenue [Line Items]    
Net revenues 422.2 407.8
Americas | Direct-to-consumer    
Disaggregation of Revenue [Line Items]    
Net revenues 360.8 328.0
Europe    
Disaggregation of Revenue [Line Items]    
Net revenues 400.5 423.5
Europe | Wholesale    
Disaggregation of Revenue [Line Items]    
Net revenues 170.2 207.0
Europe | Direct-to-consumer    
Disaggregation of Revenue [Line Items]    
Net revenues 230.3 216.5
Asia    
Disaggregation of Revenue [Line Items]    
Net revenues 308.1 288.8
Asia | Wholesale    
Disaggregation of Revenue [Line Items]    
Net revenues 135.0 132.3
Asia | Direct-to-consumer    
Disaggregation of Revenue [Line Items]    
Net revenues 173.1 156.5
Beyond Yoga®    
Disaggregation of Revenue [Line Items]    
Net revenues 35.2 32.1
Beyond Yoga® | Wholesale    
Disaggregation of Revenue [Line Items]    
Net revenues 11.9 11.3
Beyond Yoga® | Direct-to-consumer    
Disaggregation of Revenue [Line Items]    
Net revenues $ 23.3 $ 20.8
v3.25.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Income Tax Disclosure [Abstract]    
Effective income tax rate 20.60% 15.90%
Losses before income taxes $ (176.6) $ 11.7
v3.25.1
Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Numerator:    
Net income (loss) from continuing operations $ 140.2 $ (9.8)
Net income (loss) from discontinued operations, net of taxes (5.2) (0.8)
Net income (loss) $ 135.0 $ (10.6)
Denominator:    
Weighted-average common shares outstanding - basic (in shares) 396,576,662 398,941,172
Dilutive effect of stock awards (in shares) 3,469,720 0
Weighted-average common shares outstanding - diluted (in shares) 400,046,382 398,941,172
Earnings (loss) per common share:    
Continuing operations - Basic (usd per share) $ 0.35 $ (0.03)
Discontinued operations - Basic (usd per share) (0.01) 0
Net income (loss) - Basic (usd per share) 0.34 (0.03)
Discontinued operations - Diluted (usd per share) (0.01) 0
Continuing operations - Diluted (usd per share) 0.35 (0.03)
Net income (loss) - Diluted (usd per share) $ 0.34 $ (0.03)
Anti-dilutive securities excluded from calculation of diluted earnings per share attributable to common stockholders (in shares) 3,911,185 0
v3.25.1
Related Parties (Details) - Levi Strauss Foundation - USD ($)
$ in Millions
 3 Months Ended
Mar. 02, 2025
Feb. 25, 2024
Related Party Transaction [Line Items]    
Related Party Donations $ 4.4 $ 4.8
Expenses related to donation commitments $ 0.8 $ 2.0
v3.25.1
Business Segment Information (Details)
$ in Millions
 3 Months Ended
Mar. 02, 2025
USD ($)
segment
Feb. 25, 2024
USD ($)
Segment Reporting Information [Line Items]    
Number of reportable segments | segment 3  
Net revenues $ 1,526.8 $ 1,480.2
Operating income (loss) 191.6 0.6
Restructuring charges, net (6.7) (113.1)
Interest expense (10.9) (10.0)
Other expense, net (4.1) (2.3)
Income (loss) from continuing operations before income taxes 176.6 (11.7)
Dockers | Disposal Group, Held-for-Sale or Disposed of by Sale, Not Discontinued Operations    
Segment Reporting Information [Line Items]    
Corporate expenses   (3.1)
Operating Segments    
Segment Reporting Information [Line Items]    
Net revenues 1,491.6 1,448.1
Operating income (loss) 330.0 284.4
Segment Reconciling Items | Beyond Yoga    
Segment Reporting Information [Line Items]    
Net revenues 35.2 32.1
Operating income (loss) (3.1) (0.9)
Segment Reporting, Reconciling Item, Corporate Nonsegment    
Segment Reporting Information [Line Items]    
Corporate expenses (128.6) (169.8)
Americas    
Segment Reporting Information [Line Items]    
Net revenues 783.0 735.8
Americas | Operating Segments    
Segment Reporting Information [Line Items]    
Net revenues 783.0 735.8
Operating income (loss) 169.7 132.4
Europe    
Segment Reporting Information [Line Items]    
Net revenues 400.5 423.5
Europe | Operating Segments    
Segment Reporting Information [Line Items]    
Net revenues 400.5 423.5
Operating income (loss) 102.4 103.5
Asia    
Segment Reporting Information [Line Items]    
Net revenues 308.1 288.8
Asia | Operating Segments    
Segment Reporting Information [Line Items]    
Net revenues 308.1 288.8
Operating income (loss) $ 57.9 $ 48.5