Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.3
Segment Information
 9 Months Ended
Sep. 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 September 30,
 Nine Months Ended September 30,
(in thousands)
 2023 2022 2023 2022
Net sales to unrelated entities:
U.S. $ 635,413  $ 607,074  $ 1,551,997  $ 1,521,453 
LAAP 115,357  115,328  345,099  309,896 
EMEA 129,351  153,530  338,494  305,789 
Canada 105,562  79,127  191,619  157,494 
$ 985,683  $ 955,059  $ 2,427,209  $ 2,294,632 
Segment operating income:
U.S. $ 131,602  $ 145,268  $ 268,260  $ 325,790 
LAAP 14,509  11,771  36,932  21,712 
EMEA 34,241  35,567  69,636  51,036 
Canada 30,150  20,237  41,065  31,913 
Total segment operating income 210,502  212,843  415,893  430,451 
Unallocated corporate expenses (75,948) (67,582) (218,683) (192,751)
Interest income, net 1,870  765  8,659  1,659 
Other non-operating income (expense), net (311) (269) 354  (1,660)
Income before income tax $ 136,113  $ 145,757  $ 206,223  $ 237,699 
CONCENTRATIONS

The Company had one customer that accounted for approximately 11.6% and 13.8% of Accounts receivable, net as of September 30, 2023 and December 31, 2022, respectively. The Company did not have any customer that accounted for 10% or more of Accounts receivable, net as of September 30, 2022. 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, 2023 and September 30, 2022.