Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.1.u1
Segment Information
 3 Months Ended
Mar. 31, 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 March 31,
(in thousands)
 2024 2023
Net sales to unrelated entities:
U.S. $ 474,406  $ 517,475 
LAAP 138,646  136,413 
EMEA 104,520  108,289 
Canada 52,410  58,416 
$ 769,982  $ 820,593 
Segment operating income:
U.S. $ 72,993  $ 81,600 
LAAP 21,822  18,326 
EMEA 19,146  20,354 
Canada 11,168  10,801 
Total segment operating income 125,129  131,081 
Unallocated corporate expenses (80,448) (74,654)
Interest income, net 9,197  3,283 
Other non-operating income, net 271  850 
Income before income tax $ 54,149  $ 60,560 
CONCENTRATIONS

The Company had one customer that accounted for approximately 14.4%, 19.8% and 12.3% of Accounts receivable, net as of March 31, 2024, December 31, 2023 and March 31, 2023, respectively. The Company did not have any customers that accounted for 10% or more of Net sales for the three months ended March 31, 2024 and 2023.