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REVENUE
 6 Months Ended
Jul. 01, 2023
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 include advance cash deposits received from customers for certain customized product orders and unredeemed gift card liabilities. As products are shipped and control transfers, we recognize contract liabilities as revenue.

During the second quarter of 2023, we began issuing gift cards as remedies in connection with our voluntary recalls. We recognize sales from gift cards as they are redeemed for products. As of July 1, 2023, $9.6 million of our contract liabilities represented unredeemed gift card liabilities. See Note 10 for further discussion of our recalls.

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

July 1,
2023		December 31,
2022
Accounts receivable, net$131,599 $79,446 
Contract liabilities$(18,274)$(7,702)
For the six months ended July 1, 2023, we recognized $7.7 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 (based on end-consumer location) for the periods indicated (in thousands):
Three Months EndedSix Months Ended
July 1,
2023(1)
July 2,
2022
July 1,
2023(1)
July 2,
2022
Net Sales by Channel
Wholesale$176,175 $195,195 $312,004 $332,861 
Direct-to-consumer226,388 224,847 393,355 380,809 
Total net sales$402,563 $420,042 $705,359 $713,670 
Net Sales by Category
Coolers & Equipment$156,610 $193,415 $260,964 $296,373 
Drinkware233,417 216,070 423,704 400,068 
Other12,536 10,557 20,691 17,229 
Total net sales$402,563 $420,042 $705,359 $713,670 
Net Sales by Geographic Region
United States$345,888 $371,918 $598,874 $628,171 
International56,675 48,124 106,485 85,499 
Total net sales$402,563 $420,042 $705,359 $713,670 
_________________________
(1)Includes an unfavorable impact from the recall reserve adjustment. See Note 10 for further discussion of our recalls.

For the three and six months ended July 1, 2023, our largest single customer represented approximately 12% and 10% of gross sales, respectively. For both the three and six months ended July 2, 2022, our largest single customer represented approximately 12% of gross sales.