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| |X| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                                                                                                                                                                                                                                                                                                          |
| SECURITIES EXCHANGE ACT OF 1934                                                                                                                                                                                                                                                                                                                                      |
| For the quarterly period ended March 31, 2002                                                                                                                                                                                                                                                                                                                        |
| OR                                                                                                                                                                                                                                                                                                                                                                   |
| |_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                                                                                                                                                                                                                                                                                                         |
| SECURITIES EXCHANGE ACT OF 1934                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                      |
| Commission file number 1-9340                                                                                                                                                                                                                                                                                                                                        |
| **REEBOK INTERNATIONAL LTD.**                                                                                                                                                                                                                                                                                                                                        |
| Incorporated pursuant to the Laws of The Commonwealth of Massachusetts                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                      |
| Internal Revenue Service-- Employer Identification No. 04-2678061                                                                                                                                                                                                                                                                                                    |
| 1895 J.W. Foster Boulevard, Canton, Massachusetts, 02021                                                                                                                                                                                                                                                                                                             |
| (781) 401-5000                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports) and (2) has been subject to such filing requirements for the past 90 days. Yes |X| No |_| |
| The total number of shares of the registrant's Common Stock, par value $.01 per share, outstanding on April 26, 2002 was 59,495,650.                                                                                                                                                                                                                                 |
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| REEBOK INTERNATIONAL LTD.                                                                                                                                  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ***INDEX***                                                                                                                                                |
| ***PART I.    FINANCIAL INFORMATION:***                                                                                                                    |
|                                                                                                                                                            |
| Item 1.  Financial Statements (Unaudited)                                                                                                                  |
|                                                                                                                                                            |
|                                                                                                                                                            |
|             Condensed Consolidated Balance Sheets--                                            |
|                   March 31, 2002 and 2001, and December 31, 2001 | 3 |
|                                                                                                                                                            |
|             Condensed Consolidated Statements of Income--                                      |
|                   Three Months Ended March 31, 2002 and 2001     | 4 |
|                                                                                                                                                            |
|             Condensed Consolidated Statements of Cash Flows--                                  |
|                   Three Months Ended March 31, 2002 and 2001     | 5 |
|                                                                                                                                                            |
|             Notes to Condensed Consolidated Financial Statements                               | 6 - 9 |
|                                                                                                                                                            |
|                                                                                                                                                            |
| Item 2.  Management's  Discussion  and  Analysis  of                                                                                                       |
|             Results of  Operations and Financial Condition                                     | 10 - 15 |
|                                                                                                                                                            |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                                                                         | 15 |
|                                                                                                                                                            |
|                                                                                                                                                            |
| ***Part II. OTHER INFORMATION:***                                                                                                                          |
|                                                                                                                                                            |
|                                                                                                                                                            |
| Item 1. Legal Proceedings                                                                                                                                  | 16 |
|                                                                                                                                                            |
| Item 2. Changes in Securities                                                                                                                              | 16 |
|                                                                                                                                                            |
| Item 3. Defaults Upon Senior  Securities                                                                                                                   | 16 |
|                                                                                                                                                            |
| Item 4. Submission  of Matters to a Vote of  Security-Holders                                                                                              | 16 |
|                                                                                                                                                            |
| Item 5. Other Information                                                                                                                                  | 16 |
|                                                                                                                                                            |
| Item 6. Exhibits                                                                                                                                           | 16 |

| **Reebok International Ltd.**                                                                                   |
|-----------------------------------------------------------------------------------------------------------------|
| **Condensed Consolidated Balance Sheets**                                                                       |
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|                                                                                                                 |  |  |
| Amounts in thousands, except share data                                                                         |  |  |  |  |  |  |
||
|                                                                                                                 |  |  |
| **Assets**                                                                                                      |
| Current assets:                                                                                                 |
|      Cash and cash equivalents                                                         | $ | 359,981 |  | $ | 109,593 |  | $ | 413,281 |  |
|      Accounts receivable, net of allowance for                                         |
|           doubtful accounts (March 2002, $55,671; March 2001, |
|           $48,757; December 2001, $55,240)                    |  | 488,522 |  |  | 568,334 |  |  | 383,372 |
|      Inventory                                                                         |  | 349,571 |  |  | 416,006 |  |  | 362,927 |
|      Deferred income taxes                                                             |  | 104,334 |  |  | 102,630 |  |  | 104,280 |
|      Prepaid expenses and other current assets                                         |  | 41,611 |  |  | 51,641 |  |  | 30,835 |
|                                                                                                                 |  |  |
|           Total current assets                                |  | 1,344,019 |  |  | 1,248,204 |  |  | 1,294,695 |
|                                                                                                                 |  |  |
| Property and equipment, net                                                                                     |  | 132,483 |  |  | 136,758 |  |  | 133,952 |
| Other non-current assets:                                                                                       |
|           Goodwill, net                                       |  | 31,613 |  |  | 33,451 |  |  | 31,294 |
|           Intangibles, net of amortization                    |  | 45,063 |  |  | 29,791 |  |  | 45,392 |
|           Deferred income taxes                               |  | 13,575 |  |  | 10,369 |  |  | 16,094 |
|           Other                                               |  | 21,395 |  |  | 27,103 |  |  | 21,746 |
|                                                                                                                 |  |  |
|           Total Assets                                        | $ | 1,588,148 |  | $ | 1,485,676 |  | $ | 1,543,173 |  |
|                                                                                                                 |  |  |
| **Liabilities and Stockholders' Equity**                                                                        |
| Current liabilities:                                                                                            |
|      Notes payable to banks                                                            | $ | 14,638 |  | $ | 28,685 |  | $ | 11,779 |  |
|      Current portion of long-term debt                                                 |  | 98 |  |  | 134 |  |  | 97 |  |
|      Accounts payable                                                                  |  | 117,285 |  |  | 146,759 |  |  | 127,286 |  |
|      Accrued expenses                                                                  |  | 271,840 |  |  | 266,779 |  |  | 269,738 |  |
|      Income taxes payable                                                              |  | 46,201 |  |  | 29,992 |  |  | 40,506 |  |
|                                                                                                                 |  |  |
|           Total current liabilities                           |  | 450,062 |  |  | 472,349 |  |  | 449,406 |  |
|                                                                                                                 |  |  |
| Long-term debt, net of current portion                                                                          |  | 350,016 |  |  | 351,173 |  |  | 351,210 |  |
| Minority interest and other long-term liabilities                                                               |  | 22,790 |  |  | 19,146 |  |  | 22,619 |  |
| Commitments and contingencies                                                                                   |
| Stockholders' equity:                                                                                           |
| Common stock, par value $.01; authorized 250,000 shares;                                                        |
|      issued shares: March 2002, 98,464;                                                |
|      March 2001, 97,205; December 2001, 98,050                                         |  | 985 |  |  | 972 |  |  | 981 |  |
| Retained earnings                                                                                               |  | 1,497,248 |  |  | 1,355,603 |  |  | 1,453,348 |  |
|           Less shares in treasury at cost: March 2002, 39,011 |
|           March 2001, 38,716; December 2001, 39,011           |  | ( 660,422 | ) |  | ( 653,370 | ) |  | ( 660,422 | ) |
| Unearned compensation                                                                                           |  | ( 2,494 | ) |  | ( 552 | ) |  | ( 2,736 | ) |
| Accumulated   other   comprehensive   income  (expense)                                                         |  | ( 70,037 | ) |  | ( 59,645 | ) |  | ( 71,233 | ) |
|                                                                                                                 |  |  |
|           Total Stockholders' Equity                          |  | 765,280 |  |  | 643,008 |  |  | 719,938 |  |
|                                                                                                                 |  |  |
| Total  Liabilities  and  Stockholders'  Equity                                                                  | $ | 1,588,148 |  | $ | 1,485,676 |  | $ | 1,543,173 |  |
|                                                                                                                 |  |  |

The accompanying notes are an integral part of the condensed consolidated financialstatements. 

| **Reebok International Ltd.**                                                                            |
|----------------------------------------------------------------------------------------------------------|
| **Condensed Consolidated Statements of Income**                                                          |
||
|                                                                                                          |
|                                                                                                          |
| Amounts in thousands, except per share data                                                              |  |
||
|                                                                                                          |
|                                                                                                          |
| Net sales                                                                                                | $ | 735,986 |  | $ | 769,928 |  |
| Costs and expenses:                                                                                      |
|           Cost of sales                                |  | 461,849 |  |  | 482,474 |
|           Selling, general and administrative expenses |  | 213,638 |  |  | 223,460 |
|           Special charges                              |  |  |  |  | ( 6,339 | ) |
|           Other expenses, net                          |  | 1,243 |  |  | 4,963 |
|           Interest expense, net                        |  | 3,365 |  |  | 4,009 |
|                                                                                                          |  |
|                                                                                                          |  | 680,095 |  |  | 708,567 |  |
|                                                                                                          |  |
| Income before income taxes and minority interest                                                         |  | 55,891 |  |  | 61,361 |  |
| Income taxes                                                                                             |  | 17,326 |  |  | 19,022 |  |
|                                                                                                          |  |
| Income before minority interest                                                                          |  | 38,565 |  |  | 42,339 |  |
| Minority interest                                                                                        |  | 1,493 |  |  | 1,135 |  |
|                                                                                                          |  |
| Net income                                                                                               | $ | 37,072 |  | $ | 41,204 |  |
|                                                                                                          |  |
| Basic earnings per share                                                                                 | $ | .63 |  | $ | .71 |  |
|                                                                                                          |  |
| Diluted earnings per share                                                                               | $ | .58 |  | $ | .68 |  |
|                                                                                                          |  |

        Theaccompanying notes are an integral part of the condensed consolidated financialstatements. 

| **Reebok International Ltd.**                                                                                                 |
|-------------------------------------------------------------------------------------------------------------------------------|
| **Condensed Consolidated Statements of Cash Flows**                                                                           |
||
|                                                                                                                               |
|                                                                                                                               |
| Amounts in thousands, except per share data                                                                                   |  |
||
|                                                                                                                               |  |  |
| Cash flows from operating activities:                                                                                         |
| Net income                                                                                                                    | $ | 37,072 |  |  | $ | 41,204 |  |
| Adjustments to reconcile net income to net cash                                                                               |
|      used for operating activities:                                                                  |
|           Depreciation and amortization                                     |  | 8,131 |  |  |  | 10,008 |  |
|           Minority interest                                                 |  | 1,493 |  |  |  | 1,135 |  |
|           Deferred income taxes                                             |  | 2,464 |  |  |  | 6,826 |  |
|           Other                                                             |  |  |  |  |  | ( 4,951 | ) |
| Changes in operating assets and liabilities exclusive of                                                                      |
|      changes arising from business acquisitions:                                                     |
|           Accounts receivable                                               |  | ( 105,320 | ) |  |  | ( 161,570 | ) |
|           Inventory                                                         |  | 11,166 |  |  |  | ( 34,915 | ) |
|           Prepaid expenses and other                                        |  | ( 10,701 | ) |  |  | ( 11,528 | ) |
|               Accounts payable and accrued expenses     |  | ( 2,068 | ) |  |  | ( 11,468 | ) |
|           Dividends to minority shareholders                                |  | 7,530 |  |  |  | 8,409 |  |
|           Income taxes payable                                              |  | ( 2,543 | ) |  |  | ( 8,215 | ) |
|                                                                                                                               |  |  |  |
|                   Total adjustments |  | ( 89,848 | ) |  |  | ( 206,269 | ) |
|                                                                                                                               |  |  |  |
| Net cash used for operating activities:                                                                                       |  | ( 52,776 | ) |  |  | ( 165,065 | ) |
|                                                                                                                               |  |  |  |
| Cash flows used for investing activities:                                                                                     |
|           Payments to acquire property and equipment                        |  | ( 6,174 | ) |  |  | ( 3,741 | ) |
|           Proceeds from sale of assets                                      |  |  |  |  |  | 3,248 |
|           Acquisition of minority interest in and purchase of certain       |
|               subsidiaries                              |  |  |  |  |  | ( 11,428 | ) |
|                                                                                                                               |  |  |  |
| Net cash used for investing activities                                                                                        |  | ( 6,174 | ) |  |  | ( 11,921 | ) |
|                                                                                                                               |  |  |  |
| Cash flows provided by financing activities:                                                                                  |
|           Net borrowings of notes payable to banks                          |  | 2,880 |  |  |  | 21,159 |  |
|           Net proceeds from issuance of convertible debentures              |  |  |  |  |  | 244,729 |  |
|           Repayments of long-term debt                                      |  | ( 1,169 | ) |  |  | ( 257,398 | ) |
|           Proceeds from issuance of common stock to employees               |  | 4,875 |  |  |  | 13,140 |  |
|                                                                                                                               |  |  |  |
| Net cash provided by financing activities                                                                                     |  | 6,586 |  |  |  | 21,630 |  |
|                                                                                                                               |  |  |  |
| Effect of exchange rate changes on cash and                                                                                   |
|      cash equivelants                                                                                |  | ( 936 | ) |  |  | ( 3,716 | ) |
|                                                                                                                               |  |  |  |
| Net decrease in cash and cash equivalents                                                                                     |  | ( 53,300 | ) |  |  | ( 159,072 | ) |
| Cash and cash equivalents at beginning of period                                                                              |  | 413,281 |  |  |  | 268,665 |  |
|                                                                                                                               |  |  |  |
| Cash and cash equivalents at end of period                                                                                    | $ | 359,981 |  |  | $ | 109,593 |  |
|                                                                                                                               |  |  |  |
| Supplemental disclosures of cash flow information:                                                                            |
| Interest paid                                                                                                                 | $ | 9,793 |  |  | $ | 8,657 |  |
| Income taxes paid                                                                                                             |  | 7,668 |  |  |  | 5,184 |  |
| The accompanying notes are an integral part of the condensed consolidated financialstatements.                                |

Reebok International Ltd.Notes to Condensed  Consolidated  Financial Statements (Unaudited) (Dollar amounts in thousands, except per share data)

1

SUMMARY OF SIGNIFICANT