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.