REVENUE

12 Months Ended

Dec. 28, 2019

Revenue from Contract with Customer [Abstract]

Contract Balances

Accounts receivable represent an unconditional right to receive consideration from a customer and are recorded at net invoiced amounts, less an estimated allowance for doubtful accounts.

Contract liabilities are recorded when the customer pays consideration before the transfer of a good to the customer and thus represent our obligation to transfer the good to the customer at a future date. Our primary contract liabilities relate to payment advances for certain customized product transactions and gift cards. We recognize contract liabilities as revenue once all performance obligations have been satisfied.

The following table provides information about accounts receivable and contract liabilities at the periods indicated (in thousands):


	December 28, 2019		At Adoption - December 30, 2018 ⁽¹⁾
Accounts receivable, net	$	82,688	$	60,336
Contract liabilities	(4,499)		(9,457)

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(1)We adopted ASC 606 on December 30, 2018. See Note 1 for additional information.

During the year ended December 28, 2019, we recognized $9.2 million of revenue that was previously included in the contract liability balance at the beginning of the period. The change in the contract liability balance primarily results from timing differences between the customer’s payment and our satisfaction of performance obligations.

Disaggregation of Revenue

The following table disaggregates our net sales by channel, product category, and geography for the periods indicated (in thousands):


	2019		2018⁽¹⁾		2017⁽¹⁾
Net Sales by Channel
Wholesale	$	527,634	$	491,431	$	444,854
Direct-to-consumer	386,100		287,402		194,385
Total net sales	$	913,734	$	778,833	$	639,239

Net Sales by Category
Coolers & Equipment	$	368,874	$	331,224	$	312,237
Drinkware	526,241		424,164		310,287
Other	18,619		23,445		16,715
Total net sales	$	913,734	$	778,833	$	639,239

Net Sales by Geographic Region
United States	$	873,867	$	761,880	$	635,195
International	39,867		16,953		4,044
Total net sales	$	913,734	$	778,833	$	639,239

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(1)Prior year information is presented in accordance with accounting guidance in effect during that period and has not been updated to reflect the impact of ASC 606. See Note 1 for additional information.

For 2019, 2018, and 2017, our largest single customer represented approximately 15%, 16%, and 14% of gross sales, respectively. In 2019 and 2018, Amazon Marketplace accounted for 13% and 10% of gross sales, respectively. No other customer accounted for more than 10% of gross sales in 2019, 2018 or 2017.