BUSINESS SEGMENT

3 Months Ended

Mar. 31, 2025

BUSINESS SEGMENT

BUSINESS SEGMENT

7.    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. In addition, the Company’s results of operations and its financial condition are not significantly reliant upon any single customer or product model.

Significant segment expenses for the three months ended March 31, 2025 and 2024 are shown in the following table:

	Three months ended March 31,
(in thousands)	2025		2024
Materials	$	31,129	$	36,300
Overhead		5,697		6,180
Labor costs		6,387		6,978
Other cost of goods sold (1)		4,836		5,898
Cost of goods sold	$	48,049	$	55,356
Employment costs	$	3,806	$	5,324
Warranty expense		927		1,101
Other selling, general and administrative expenses (2)		3,607		2,317
Selling, general and administrative expenses	$	8,340	$	8,742

(1) Comprised primarily of accessories cost.

(2) Includes professional fees, advertising and promotions, and other costs.