WOLVERINE WORLD WIDE INC /DE/

Listed Company

WWWCIK 0000110471NYSELarge AcceleratedFootwear, (No Rubber)MichiganFY ends Dec 30

Period

FY 2025

Revenue

$1.87B

Net Income

$95.80M

Total Assets

$1.71B

Equity

$408.00M

Shares Out

81.32M

Op. Cash Flow

$140.00M

Business

WOLVERINE WORLD WIDE INC /DE/ is a designer, marketer and licensor of a broad range of casual, performance, outdoor and athletic footwear and apparel, kids' footwear, industrial work boots and uniform shoes and boots. It offers shoes, boots, sandals, apparel and accessories under multiple brands and licenses, and provides sourcing, marketing and licensing services. Its portfolio is organized into Active Group (Merrell, Saucony, Sweaty Betty, Chaco), Work Group (Wolverine, Cat, Bates, Harley‑Davidson, HYTEST) and Other/Corporate categories. The Company markets products globally through owned operations in the U.S., Canada, the U.K. and parts of Europe and Asia Pacific, and via third‑party distributors, licensees and joint ventures in other regions.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	1,874	1,755	2,243	2,685	2,415
Cost of goods sold	988	977	1,369	1,614	1,385
Gross profit	887	778	874	1,070	1,030
Selling, general and administrative expenses	730	690	856	906	818
Gain on sale of businesses, trademarks and long-lived assets	0	−9	−90	−90	0
Impairment, Long-Lived Asset, Held-for-Use	0	9	185	429	0
Environmental and other related costs (income), net of recoveries	7	−10	−10	34	56
Operating profit (loss)	150	98	−67	−208	156
Interest expense, net	33	43	64	47	37
Other expense (income), net	−4	−3	3	−3	4
Total other expenses	29	39	66	45	75
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	122	58	−133	−253	80
Income tax expense (benefit)	21	9	−95	−64	13
Net earnings (loss)	101	49	−38	−189	67
Less: net earnings attributable to noncontrolling interests	5	4	400,000	−800,000	−2
Net earnings (loss) attributable to Wolverine World Wide, Inc.	96	45	−39	−188	69
Earnings per share - Basic	1.14	0.55	−0.49	−2.37	0.82
Earnings per share - Diluted	1.14	0.55	−0.49	−2.37	0.81

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation	206	152	179	132	162
Accounts Receivable, after Allowance for Credit Loss, Current	162	209	231	242	320
Finished products, net	273	245	372	743	354
Raw materials and work-in-process, net	2	3	2	2	11
Total inventories	274	248	374	745	366
Prepaid expenses and other current assets	87	86	81	79	57
Total current assets	729	696	1,025	1,265	904
Property, plant and equipment, net	81	90	96	136	129
Lease right-of-use assets	100	102	118	175	138
Goodwill	431	425	427	485	557
Indefinite-lived intangibles	180	173	174	274	718
Amortizable intangibles, net	29	32	35	67	75
Deferred Income Tax Assets, Net	84	92	116	25	2
Other assets	75	66	71	66	64
Total assets	1,709	1,674	2,063	2,493	2,586
Accounts payable	175	201	206	272	222
Accrued salaries and wages	43	35	37	32	42
Other accrued liabilities	193	183	252	323	223
Lease liabilities	35	34	35	39	38
Current maturities of long-term debt	0	10	10	10	10
Borrowings under revolving credit agreements	75	70	305	425	225
Total current liabilities	521	533	869	1,110	760
Current maturities of long-term debt	547	568	606	723	732
Accrued pension liabilities	56	71	78	73	107
Deferred income taxes	29	29	27	35	119
Lease liabilities, noncurrent	105	116	132	154	118
Other liabilities	28	35	50	59	106
Common stock par value $1, authorized 320,000,000 shares; 115,472,632, and 113,721,605 shares issued	116	114	113	112	112
Additional paid-in capital	407	383	364	325	299
Retained earnings	917	855	835	907	1,128
Accumulated other comprehensive loss	−126	−148	−142	−133	−99
Cost of shares in treasury; 34,285,955, and 33,392,585 shares	−905	−891	−891	−891	−810
Total Wolverine World Wide, Inc. stockholders equity	408	313	279	321	630
Noncontrolling interest	15	9	21	18	15
Total stockholders equity	423	322	308	346	644
Total liabilities and stockholders equity	1,709	1,674	2,063	2,493	2,586

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	26	26	35	35	33
Deferred income taxes	8	21	−96	−106	−15
Stock-based compensation expense	24	19	15	33	38
Pension and SERP expense	−1	200,000	700,000	9	14
Impairment of Intangible Assets (Excluding Goodwill)	0	9	185	429	0
Environmental and other related costs	−15	−13	−55	−23	34
Gain (Loss) on Disposition of Intangible Assets	0	9	90	90	0
Other	−13	−8	−2	−3	−2
Accounts receivable	54	17	3	85	−49
Inventories	−21	131	285	−429	−77
Other operating assets	−18	−6	−17	−21	−2
Accounts payable	−30	−3	−66	63	23
Income taxes	0	−4	−2	2	2
Other operating liabilities	23	−48	−37	26	16
Net cash provided by operating activities	140	180	122	−179	87
Additions to property, plant and equipment	−15	−20	−15	−37	−18
Proceeds from Sales of Assets, Investing Activities	0	102	189	90	0
Proceeds from Life Insurance Policy	2	8	0	0	0
Other	−2	−3	−3	4	−2
Net cash provided by (used in) investing activities	−14	87	172	55	−437
Repayments of Lines of Credit	486	619	743	740	435
Proceeds from Lines of Credit	491	384	623	940	660
Cash Received From Borrowings Against Company Owned Life Insurance Policies	0	7	0	31	0
Payments on long-term debt	−33	−39	−118	−10	−730
Payments of debt issuance and debt extinguishment costs	−4	0	−900,000	0	−10
Cash dividends paid	−33	−33	−33	−33	−34
Purchase of common stock for treasury	−15	0	0	−81	−40
Payments Related to Tax Withholding for Share-based Compensation	11	3	6	8	14
Proceeds from the exercise of stock options	12	3	100,000	1	17
Contributions from noncontrolling interests	0	0	31	7	5
Net cash used in financing activities	−78	−299	−246	107	169
Effect of foreign exchange rate changes	6	−200,000	2	−9	−5
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation, Total	54	−33	49	−26	−186
Interest paid	34	44	64	43	35
Net income taxes paid	12	—	—	—	—
Income Tax Paid, State and Local, after Refund Received	−200,000	—	—	—	—
Net income taxes paid	25	20	27	44	28
Additions to property, plant and equipment not yet paid	0	1	300,000	3	3

Filings

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