BUSINESS SEGMENT

12 Months Ended

Dec. 31, 2025

BUSINESS SEGMENT

BUSINESS SEGMENT

Note 14: Business Segment

MPC has one reportable segment — its Powerboat Manufacturing business. The Chief Operating Decision Maker (CODM) makes resource allocation and performance assessment decisions based on this segment as a whole. MPC's CODM is the Chief Executive Officer.

Significant segment expenses for the years ended December 31, 2025, 2024 and 2023 are shown in the following table:

(in thousands)	2025		2024		2023
Materials	$	128,705	$	123,441	$	203,847
Overhead		23,124		22,987		25,575
Labor costs		26,660		25,887		33,907
Other cost of goods sold (1)		19,155		18,742		30,021
Cost of goods sold	$	197,644	$	191,057	$	293,350
Employment costs	$	18,016	$	17,580	$	28,439
Warranty expense		4,536		3,616		5,829
Other selling, general and administrative expenses (2)		10,195		6,180		8,945
Selling, general and administrative expenses	$	32,747	$	27,376	$	43,213

⁽¹⁾ Comprised primarily of accessories costs.

⁽²⁾ Includes professional fees, transactions costs related to the Mergers, advertising and promotions, and other costs.