REVENUE

12 Months Ended

Jan. 01, 2022

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 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 contract liabilities relate to advance cash deposits received from customers for certain customized product orders. As products are shipped and control transfers, we recognize contract liabilities as revenue.

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

	January 1, 2022		January 2, 2021
Accounts receivable, net	$	109,530	$	65,417
Contract liabilities	(20,761)		(11,074)

During the year ended January 1, 2022, we recognized $11.1 million of revenue that was previously included in the contract liability balance at the beginning of the period.

Disaggregation of Revenue

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

	2021		2020		2019
Net Sales by Channel:
Wholesale	$	626,259	$	510,861	$	527,634
Direct-to-consumer	784,730		580,860		386,100
Total net sales	$	1,410,989	$	1,091,721	$	913,734
Net Sales by Category:
Coolers & Equipment	$	551,861	$	446,585	$	368,874
Drinkware	832,428		628,566		526,241
Other	26,700		16,570		18,619
Total net sales	$	1,410,989	$	1,091,721	$	913,734
Net Sales by Geographic Region:
United States	$	1,277,177	$	1,025,393	$	873,867
International	133,812		66,328		39,867
Total net sales	$	1,410,989	$	1,091,721	$	913,734

Customers that accounted for 10% or more of gross sales were as follows:

	2021		2020	2019
Customer A	10	%	*	15	%

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*Gross sales were less than 10%.