Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.2
Segment Information
 6 Months Ended
Jun. 30, 2023
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 consumer digital 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)
 2023 2022 2023 2022
Net sales to unrelated entities:
U.S. $ 399,109  $ 412,485  $ 916,584  $ 914,379 
LAAP 93,329  72,825  229,742  194,568 
EMEA 100,854  57,542  209,143  152,259 
Canada 27,641  35,211  86,057  78,367 
$ 620,933  $ 578,063  $ 1,441,526  $ 1,339,573 
Segment operating income (loss):
U.S. $ 55,058  $ 67,346  $ 136,658  $ 180,522 
LAAP 4,097  (3,061) 22,423  9,941 
EMEA 15,041  (1,030) 35,395  15,469 
Canada 114  3,535  10,915  11,676 
Total segment operating income 74,310  66,790  205,391  217,608 
Unallocated corporate expenses (68,081) (58,017) (142,735) (125,169)
Interest income, net 3,506  499  6,789  894 
Other non-operating income (expense), net (185) (1,435) 665  (1,391)
Income before income tax $ 9,550  $ 7,837  $ 70,110  $ 91,942 
CONCENTRATIONS

The Company had one customer that accounted for approximately 14.6%, 13.8% and 12.3% of Accounts receivable, net as of June 30, 2023, December 31, 2022 and June 30, 2022, respectively. The Company did not have any customer that accounted for 10% or more of Net sales for the three and six months ended June 30, 2023 and June 30, 2022.