Concentration of Business

9 Months Ended

Dec. 31, 2022

Regions and Customers. The Company sells its products globally to customers and end consumers in various countries, with net sales concentrations as follows:


	Three Months Ended December 31,						Nine Months Ended December 31,
	2022			2021			2022			2021
International net sales	$	438,797		$	391,603		$	926,648		$	767,489
% of net sales	32.6		%	33.0		%	32.7		%	31.8		%
Net sales in foreign currencies	$	329,911		$	332,968		$	631,982		$	580,949
% of net sales	24.5		%	28.0		%	22.3		%	24.1		%
Ten largest global customers as % of net sales	24.6		%	26.4		%	27.4		%	28.8		%

For the three and nine months ended December 31, 2022, and 2021, no single foreign country comprised 10.0% or more of the Company's total net sales. For the three and nine months ended December 31, 2022, and 2021, no single global customer accounted for 10.0% or more of the Company's net sales.

As of December 31, 2022, the Company has one customer that represents 16.2% of trade accounts receivable, net, compared to one customer that represents 11.2% of trade accounts receivable, net, as of March 31, 2022. 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, 2022		March 31, 2022
United States	$	224,773	$	208,078
Foreign*	17,821		14,371
Total	$	242,594	$	222,449

*No single foreign country’s property and equipment, net, represents 10.0% or more of the Company’s total property and equipment, net, as of December 31, 2022, and March 31, 2022.