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Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information
NOTE 3 — SEGMENT INFORMATION

The Company defines its operating segments on the basis of the way in which internally reported financial information is regularly reviewed by the chief operating decision maker ("CODM") to analyze performance, make decisions, and allocate resources. The Company aggregates its operating segments with similar economic and operating characteristics into four reportable segments: U.S., LAAP, EMEA, and Canada. These reportable segments are organized by geographic location. 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.

The Company’s CODM is the Company’s president and chief executive officer. The Company’s CODM assesses the segments’ performance by using each segment's operating income.

The CODM uses each segment's operating income to allocate resources predominantly in the annual budget and forecasting process. The CODM considers plan-to-actual variances on a quarterly basis for the segment operating income profit measure when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses this profit measure to assess the performance of each segment by comparing the results of each segment with one another, and in the overall strategic planning for each segment.

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, intangible asset and goodwill impairment charges, and other miscellaneous costs.

The following tables present segment financial information for the Company's reportable segments:
Three Months Ended September 30, 2025
(in thousands)
U.S.
LAAP
EMEA
Canada
Total
Net sales
$546,690 $143,358 $164,461 $88,916 $943,425 
Cost of sales
275,920 66,286 82,662 46,739 471,607 
Segment selling, general and administrative expenses
157,008 50,260 39,864 15,321 262,453 
Other segment items(a)
16,708 5,694 3,714 4,035 30,151 
Segment operating income
97,054 21,118 38,221 22,821 179,214 
Reconciliation to income before income tax:
Unallocated corporate expenses
111,828 
Operating income
67,386 
Interest income, net
2,870 
Other non-operating income, net
732 
Income before income tax
$70,988 
(a) For each reportable segment, other segment items include certain corporate expenses and net licensing income allocated to each of the reportable segments, as well as net licensing income directly attributable to each of the reportable segments.

Three Months Ended September 30, 2024
(in thousands)
U.S.
LAAP
EMEA
Canada
Total
Net sales
$571,306 $134,985 $141,785 $83,692 $931,768 
Cost of sales
288,997 61,430 71,400 42,382 464,209 
Segment selling, general and administrative expenses
147,606 45,964 33,204 14,178 240,952 
Other segment items(a)
19,347 7,156 3,943 4,763 35,209 
Segment operating income115,356 20,435 33,238 22,369 191,398 
Reconciliation to income before income tax:
Unallocated corporate expenses
78,857 
Operating income112,541 
Interest income, net
5,364 
Other non-operating income, net
1,283 
Income before income tax$119,188 
(a) For each reportable segment, other segment items include certain corporate expenses and net licensing income allocated to each of the reportable segments, as well as net licensing income directly attributable to each of the reportable segments.

Nine Months Ended September 30, 2025
(in thousands)
U.S.
LAAP
EMEA
Canada
Total
Net sales
$1,352,988 $407,901 $402,503 $163,731 $2,327,123 
Cost of sales
681,608 186,537 209,765 84,230 1,162,140 
Segment selling, general and administrative expenses
437,791 148,077 101,836 38,020 725,724 
Other segment items(a)
53,241 18,818 12,074 11,651 95,784 
Segment operating income
180,348 54,469 78,828 29,830 343,475 
Reconciliation to income before income tax:
Unallocated corporate expenses
253,172 
Operating income90,303 
Interest income, net
14,525 
Other non-operating income, net
4,447 
Income before income tax$109,275 
(a) For each reportable segment, other segment items include certain corporate expenses and net licensing income allocated to each of the reportable segments, as well as net licensing income directly attributable to each of the reportable segments.

Nine Months Ended September 30, 2024
(in thousands)
U.S.LAAPEMEACanadaTotal
Net sales
$1,385,940 $373,115 $350,227 $162,712 $2,271,994 
Cost of sales
707,841 166,762 184,472 82,382 1,141,457 
Segment selling, general and administrative expenses
406,113 136,902 86,194 34,079 663,288 
Other segment items(a)
60,171 21,111 12,759 12,736 106,777 
Segment operating income
211,815 48,340 66,802 33,515 360,472 
Reconciliation to income before income tax:
Unallocated corporate expenses
227,052 
Operating income
133,420 
Interest income, net
22,905 
Other non-operating income, net
2,030 
Income before income tax
$158,355 
(a) For each reportable segment, other segment items include certain corporate expenses and net licensing income allocated to each of the reportable segments, as well as net licensing income directly attributable to each of the reportable segments.

The following table presents segment depreciation and amortization expense information:
Three Months Ended September 30,
Nine Months Ended
September 30,
(in thousands)
2025202420252024
Depreciation and amortization expense:
U.S.$6,663 $5,667 $19,405 $17,244 
LAAP1,842 1,403 5,020 4,222 
EMEA1,207 1,028 3,420 2,959 
Canada797 763 2,318 2,166 
Unallocated corporate expense3,707 4,183 11,984 15,596 
$14,216 $13,044 $42,147 $42,187 
The following table presents segment asset information:
 As of
(in thousands)
September 30, 2025December 31, 2024September 30, 2024
Inventories:
U.S.$500,095 $450,014 $521,705 
LAAP130,530 108,818 122,892 
EMEA109,852 79,710 91,923 
Canada59,873 51,973 61,633 
Total segment assets
800,350 690,515 798,153 
All other assets
1,912,197 2,284,750 1,962,587 
Total assets
$2,712,547 $2,975,265 $2,760,740 

CONCENTRATIONS

No single customer accounted for 10% or more of Net sales for the three and nine months ended September 30, 2025 and 2024.