Concentration of Business

9 Months Ended

Dec. 31, 2021

Regions and Customers. The Company sells its products to customers throughout the US and to foreign customers in various countries, with concentrations that were as follows:


	Three Months Ended December 31,						Nine Months Ended December 31,
	2021			2020			2021			2020
International net sales	$	391,603		$	307,239		$	767,489		$	602,221
% of net sales	33.0		%	28.5		%	31.8		%	30.3		%
Net sales in foreign currencies	$	332,968		$	260,552		$	580,949		$	472,906
% of net sales	28.0		%	24.2		%	24.1		%	23.8		%
Ten largest customers as % of net sales	26.4		%	31.0		%	28.8		%	29.6		%

For the three and nine months ended December 31, 2021 and 2020, no single foreign country comprised 10.0% or more of the Company's total net sales. No single customer accounted for 10.0% or more of the Company's net sales during the three and nine months ended December 31, 2021 and 2020. The Company sells its products to customers for trade accounts receivable and, as of December 31, 2021, has two customers that represent 26.2% of trade accounts receivable, net, compared to one that represents 12.8% of trade accounts receivable, net, as of March 31, 2021. Management performs regular evaluations concerning the ability of the Company’s customers to satisfy their obligations to the Company and recognizes an allowance for doubtful accounts based on these evaluations.

Suppliers. The Company's production is concentrated at a limited number of independent manufacturing factories, primarily in Asia. Sheepskin is the principal raw material for certain UGG brand products and most of the Company's sheepskin is purchased from two tanneries in China, which is sourced primarily from Australia and the United Kingdom (UK). The Company believes significant factors affecting the price of sheepskin include weather patterns, harvesting decisions, incidence of disease, the price of other commodities such as wool and leather, the demand for the Company's products and the products of its competitors, the use of substitute products or components, and global economic conditions.

Long-Lived Assets. Long-lived assets, which consist of property and equipment, net, recorded in the condensed consolidated balance sheets, are as follows:


	December 31, 2021		March 31, 2021
US	$	208,190	$	194,833
Foreign*	12,823		11,377
Total	$	221,013	$	206,210

*No single foreign country’s property and equipment, net, represented 10.0% or more of the Company’s total property and equipment, net, as of December 31, 2021 and March 31, 2021.