SEGMENTS AND GEOGRAPHIC INFORMATION

12 Months Ended

Feb. 03, 2018

SEGMENTS AND GEOGRAPHIC INFORMATION

SEGMENTS AND GEOGRAPHIC INFORMATION

12. SEGMENTS AND GEOGRAPHIC INFORMATION

We consider Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice to be our operating segments for purposes of determining reportable segments based on the criteria of ASC 280, Segment Reporting (“ASC 280”). We determined that Michaels-U.S., Michaels-Canada, Aaron Brothers and Pat Catan’s have similar economic characteristics and meet the aggregation criteria set forth in ASC 280. Therefore, we combine these operating segments into one reporting segment. Darice does not meet the materiality criteria in ASC 280 and, therefore, is not disclosed as a reportable segment. Our chief operating decision makers evaluate historical operating performance and forecast future periods’ operating performance based on operating income.

Our net sales by country and sales by product category are as follows (in thousands):

	Fiscal Year
	2017		2016		2015
Net Sales:
United States	$	4,856,275	$	4,736,578	$	4,473,454
Canada		505,685		460,714		439,328
Total	$	5,361,960	$	5,197,292	$	4,912,782
Sales by Product Category:
General crafts	$	2,670,721	$	2,630,398	$	2,487,288
Home décor and seasonal		1,177,069		1,088,989		1,003,436
Framing		891,010		903,143		927,588
Papercrafting		623,160		574,762		494,470
Total	$	5,361,960	$	5,197,292	$	4,912,782

Our total assets by country are as follows (in thousands):

	Fiscal Year
	2017		2016
Total Assets:
United States	$	2,145,244	$	1,969,889
Canada		154,971		177,751
Total	$	2,300,215	$	2,147,640

We present assets based on their geographic location. Certain assets located in the U.S. are also used to support our Canadian operations but are not allocated to Canada.