Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.2.u1
Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information
NOTE 9 — SEGMENT INFORMATION

The Company has four reportable geographic segments: U.S., LAAP, EMEA, and 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 outdoor, active and lifestyle products, including apparel, footwear, accessories, and equipment. Intersegment net sales and intersegment profits, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material. Unallocated corporate expenses consist of expenses incurred by centrally-managed departmental functions, including information technology, certain supply chain functions, finance, human resources and legal, as well as executive compensation, unallocated benefit program expense, and other miscellaneous costs.

The following tables present financial information for the Company's reportable segments:

Three Months Ended June 30,
 Six Months Ended June 30,
(in thousands)
 2024 2023 2024 2023
Net sales to unrelated entities:
U.S. $ 340,228  $ 399,109  $ 814,634  $ 916,584 
LAAP 99,484  93,329  238,130  229,742 
EMEA 103,922  100,854  208,442  209,143 
Canada 26,610  27,641  79,020  86,057 
$ 570,244  $ 620,933  $ 1,340,226  $ 1,441,526 
Segment operating income (loss):
U.S. $ 23,466  $ 55,058  $ 96,459  $ 136,658 
LAAP 6,082  4,097  27,904  22,423 
EMEA 14,419  15,041  33,565  35,395 
Canada (23) 114  11,145  10,915 
Total segment operating income 43,944  74,310  169,073  205,391 
Unallocated corporate expenses (67,746) (68,081) (148,194) (142,735)
Interest income, net 8,344  3,506  17,541  6,789 
Other non-operating income (expense), net 476  (185) 747  665 
Income (loss) before income tax $ (14,982) $ 9,550  $ 39,167  $ 70,110 
CONCENTRATIONS

The Company had one customer that accounted for approximately 13.7%, 19.8% and 14.6% of Accounts receivable, net as of June 30, 2024, December 31, 2023 and June 30, 2023, respectively. The Company did not have any customers that accounted for 10% or more of Net sales for the three and six months ended June 30, 2024 and 2023.