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Segment Information
 3 Months Ended
Mar. 31, 2026
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 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 certain information technology, supply chain, finance, human resources, and legal functions, as well as executive compensation, unallocated benefit program expense, and other miscellaneous costs.

The following tables present segment financial information for the Company's reportable segments:
Three Months Ended March 31, 2026
(in thousands)
U.S.
LAAP
EMEA
Canada
Total
Net sales
$422,454 $160,243 $145,349 $50,967 $779,013 
Cost of sales
217,989 69,116 70,496 26,450 384,051 
Segment selling, general and administrative expenses
137,410 56,757 42,057 12,424 248,648 
Other segment items(a)
18,043 7,475 4,645 3,873 34,036 
Segment operating income
49,012 26,895 28,151 8,220 112,278 
Reconciliation to income before income tax:
Unallocated corporate expenses
70,285 
Operating income
41,993 
Interest income, net
4,883 
Other non-operating income, net
397 
Income before income tax
$47,273 
(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 March 31, 2025
(in thousands)
U.S.
LAAP
EMEA
Canada
Total
Net sales
$471,181 $152,210 $107,480 $47,581 $778,452 
Cost of sales
239,908 66,278 52,855 23,354 382,395 
Segment selling, general and administrative expenses
146,383 53,081 32,138 11,539 243,141 
Other segment items(a)
18,936 6,521 3,509 3,725 32,691 
Segment operating income65,954 26,330 18,978 8,963 120,225 
Reconciliation to income before income tax:
Unallocated corporate expenses
73,717 
Operating income46,508 
Interest income, net
6,817 
Other non-operating income, net
1,551 
Income before income tax$54,876 
(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 March 31,
(in thousands)
20262025
Depreciation and amortization expense:
U.S.$6,125 $6,101 
LAAP1,650 1,538 
EMEA1,289 1,054 
Canada758 710 
Unallocated corporate expense3,869 4,062 
$13,691 $13,465 

The following table presents segment asset information:

 As of
(in thousands)
March 31, 2026December 31, 2025
Inventories:
U.S.$402,376 $416,041 
LAAP92,212 118,633 
EMEA87,619 106,508 
Canada41,764 48,274 
Total segment assets
623,971 689,456 
All other assets
1,939,615 2,239,037 
Total assets
$2,563,586 $2,928,493 
CONCENTRATIONS

No single customer accounted for 10% or more of Net sales for the three months ended March 31, 2026 and 2025.