Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.3
Segment Information
 9 Months Ended
Sep. 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 September 30,
 Nine Months Ended September 30,
(in thousands)
 2024 2023 2024 2023
Net sales to unrelated entities:
U.S. $ 571,306  $ 635,413  $ 1,385,940  $ 1,551,997 
LAAP 134,985  115,357  373,115  345,099 
EMEA 141,785  129,351  350,227  338,494 
Canada 83,692  105,562  162,712  191,619 
$ 931,768  $ 985,683  $ 2,271,994  $ 2,427,209 
Segment operating income:
U.S. $ 115,356  $ 131,602  $ 211,815  $ 268,260 
LAAP 20,435  14,509  48,340  36,932 
EMEA 33,238  34,241  66,802  69,636 
Canada 22,369  30,150  33,515  41,065 
Total segment operating income 191,398  210,502  360,472  415,893 
Unallocated corporate expenses (78,857) (75,948) (227,052) (218,683)
Interest income, net 5,364  1,870  22,905  8,659 
Other non-operating income (expense), net 1,283  (311) 2,030  354 
Income before income tax $ 119,188  $ 136,113  $ 158,355  $ 206,223 
CONCENTRATIONS

The Company had one customer that accounted for approximately 11.9%, 19.8% and 11.6% of Accounts receivable, net as of September 30, 2024, December 31, 2023 and September 30, 2023, respectively. The Company did not have any customers that accounted for 10% or more of Net sales for the three and nine months ended September 30, 2024 and 2023.