| Segment Information |
SEGMENT INFORMATION
The Company operates in four geographic segments: (1) the United States, (2) Latin America and Asia Pacific (“LAAP”), (3) Europe, Middle East and Africa (“EMEA”), and (4) Canada, which are reflective of the Company’s internal organization, management, and oversight structure. Each geographic segment operates predominantly in one industry: the design, development, marketing and distribution of active outdoor apparel, footwear, accessories and equipment.
The geographic distribution of the Company’s net sales, income before income taxes, interest income (expense), income tax (expense) benefit, and depreciation and amortization expense are summarized in the following tables (in thousands) for the years ended December 31, 2013, 2012 and 2011 and for identifiable assets at December 31, 2013 and 2012. Intersegment net sales, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013 |
|
2012 |
|
2011 |
Net sales to unrelated entities: |
|
|
|
|
|
|
United States |
|
$ |
971,321 |
|
|
$ |
946,710 |
|
|
$ |
947,970 |
|
LAAP |
|
354,345 |
|
|
377,545 |
|
|
340,977 |
|
EMEA |
|
240,702 |
|
|
230,624 |
|
|
275,416 |
|
Canada |
|
118,628 |
|
|
114,684 |
|
|
129,622 |
|
|
|
$ |
1,684,996 |
|
|
$ |
1,669,563 |
|
|
$ |
1,693,985 |
|
|
|
|
|
|
|
|
Segment income (loss) from operations: |
|
|
|
|
|
|
United States |
|
$ |
83,663 |
|
|
$ |
68,504 |
|
|
$ |
63,847 |
|
LAAP |
|
41,896 |
|
|
51,219 |
|
|
46,214 |
|
EMEA |
|
(975 |
) |
|
7,993 |
|
|
13,779 |
|
Canada |
|
7,210 |
|
|
5,812 |
|
|
12,566 |
|
Total income from operations |
|
131,794 |
|
|
133,528 |
|
|
136,406 |
|
Interest |
|
503 |
|
|
379 |
|
|
1,274 |
|
Other non-operating expense |
|
(871 |
) |
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income tax |
|
$ |
131,426 |
|
|
$ |
133,907 |
|
|
$ |
137,680 |
|
|
|
|
|
|
|
|
Interest income (expense), net: |
|
|
|
|
|
|
United States |
|
$ |
4,501 |
|
|
$ |
5,121 |
|
|
$ |
4,565 |
|
LAAP |
|
(162 |
) |
|
(1,097 |
) |
|
(666 |
) |
EMEA |
|
(556 |
) |
|
293 |
|
|
648 |
|
Canada |
|
(3,280 |
) |
|
(3,938 |
) |
|
(3,273 |
) |
|
|
$ |
503 |
|
|
$ |
379 |
|
|
$ |
1,274 |
|
|
|
|
|
|
|
|
Income tax (expense) benefit: |
|
|
|
|
|
|
United States |
|
$ |
(28,629 |
) |
|
$ |
(21,961 |
) |
|
$ |
(19,233 |
) |
LAAP |
|
(11,135 |
) |
|
(13,792 |
) |
|
(12,163 |
) |
EMEA |
|
2,959 |
|
|
1,527 |
|
|
(80 |
) |
Canada |
|
(1,018 |
) |
|
178 |
|
|
(2,725 |
) |
|
|
$ |
(37,823 |
) |
|
$ |
(34,048 |
) |
|
$ |
(34,201 |
) |
|
|
|
|
|
|
|
Depreciation and amortization expense: |
|
|
|
|
|
|
United States |
|
$ |
29,922 |
|
|
$ |
31,025 |
|
|
$ |
33,100 |
|
LAAP |
|
4,061 |
|
|
4,214 |
|
|
3,241 |
|
EMEA |
|
4,032 |
|
|
4,112 |
|
|
6,292 |
|
Canada |
|
2,856 |
|
|
1,541 |
|
|
927 |
|
|
|
$ |
40,871 |
|
|
$ |
40,892 |
|
|
$ |
43,560 |
|
|
|
|
|
|
|
|
Assets: |
|
|
|
|
|
|
United States |
|
$ |
1,156,323 |
|
|
$ |
1,031,838 |
|
|
|
LAAP |
|
287,754 |
|
|
229,139 |
|
|
|
EMEA |
|
317,717 |
|
|
293,878 |
|
|
|
Canada |
|
179,047 |
|
|
177,912 |
|
|
|
Total identifiable assets |
|
1,940,841 |
|
|
1,732,767 |
|
|
|
Eliminations and reclassifications |
|
(335,253 |
) |
|
(273,925 |
) |
|
|
|
|
$ |
1,605,588 |
|
|
$ |
1,458,842 |
|
|
|
|
|
|
|
|
|
|
Net sales by product category: |
|
|
|
|
|
|
Apparel, accessories and equipment |
|
$ |
1,374,598 |
|
|
$ |
1,347,005 |
|
|
$ |
1,334,883 |
|
Footwear |
|
310,398 |
|
|
322,558 |
|
|
359,102 |
|
|
|
$ |
1,684,996 |
|
|
$ |
1,669,563 |
|
|
$ |
1,693,985 |
|
|