HanesBrands Inc. reports that it has received at least $20.5 million in insurance compensation in 2023 for the 2022 ransomware attack, which cost the manufacturer around $100 million in global sales, according to an article from the Winston-Salem Journal.

HanesBrands announced in a regulatory filing that it began experiencing the ransomware attack on May 24, 2022. The apparel manufacturer disclosed the insurance payments in its third-quarter regulatory filing that represents compensation for lost profits.

HanesBrands said in the article that the ransomware attack affected its global supply chain network and ability to fulfill customer orders for about three weeks. The attack resulted in a $35 million reduction in adjusted operating profit for the second quarter of fiscal 2022, while lowering adjusted earnings per share by 8 cents.

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