XML 19 R9.htm IDEA: XBRL DOCUMENT v3.21.1
REVENUE
 3 Months Ended
Apr. 03, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
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 credit losses.

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. 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):

April 3, 2021January 2,
2021
Accounts receivable, net$67,051 $65,417 
Contract liabilities(10,073)(11,074)

For the three months ended April 3, 2021, we recognized $11.1 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 (based on ship to destination) for the periods indicated (in thousands):
Three Months Ended
April 3,
2021		March 28,
2020
Net Sales by Channel
Wholesale$120,780 $94,816 
Direct-to-consumer126,774 79,596 
Total net sales$247,554 $174,412 
Net Sales by Category
Coolers & Equipment$93,458 $59,494 
Drinkware148,879 112,617 
Other5,217 2,301 
Total net sales$247,554 $174,412 
Net Sales by Geographic Region
United States$224,358 $164,998 
International23,196 9,414 
Total net sales$247,554 $174,412 
For the three months ended April 3, 2021 and March 28, 2020, no single customer represented over 10% of gross sales.