Concentration of Business

12 Months Ended

Mar. 31, 2023

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


	Years Ended March 31,
	2023			2022			2021
International net sales	$	1,175,789		$	982,546		$	784,164
% of net sales	32.4		%	31.2		%	30.8		%
Net sales in foreign currencies	$	832,632		$	744,213		$	611,897
% of net sales	23.0		%	23.6		%	24.0		%
Ten largest customers as % of net sales	25.2		%	27.4		%	27.8		%

For the years ended March 31, 2023, 2022, and 2021, no single foreign country comprised 10.0% or more of the Company’s total net sales. No single global customer accounted for 10.0% or more of the Company’s net sales during the years ended March 31, 2023, 2022, and 2021.

As of March 31, 2023, the Company has no customers that represent 10.0% 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.

Cash and Cash Equivalents. The Company maintains a portion of its cash in Federal Deposit Insurance Corporation (FDIC) insured bank deposit accounts which, at times, may exceed federally insured limits. To date, the Company has not experienced any losses in such accounts. The Company does not believe, based on the size and strength of the banking institutions used, it is exposed to any significant credit risks in cash.

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).

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


	As of March 31,
	2023		2022
United States	$	244,529	$	208,078
Foreign*	22,150		14,371
Total	$	266,679	$	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 March 31, 2023, and 2022.