v3.26.1
Segment Information
 6 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
FASB’s Accounting Standards Codification 280, Segment Reporting, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. Our CODM is our Chief Executive Officer. Our reportable segments coincide with the geographic operating segments which include North America, EMEA, Asia-Pacific, and Latin America. The measure of segment profit is income from operations. Our CODM utilizes income from operations to analyze and compare year-over-year and budget-to-actual segment-level operational performance and profitability before non-operational items, ensure optimal alignment with our strategic priorities and make strategic decisions concerning resource allocation across our operating segments.
Geographic areas in which we operated our reportable segments during the periods presented include North America (the United States and Canada), EMEA (Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hungary, Ireland, Israel, Italy, Kosovo, Lebanon, Luxembourg, Macedonia, Morocco, Netherlands, Norway, Oman, Pakistan, Poland, Portugal, Qatar, Romania, Saudi Arabia, Serbia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Arab Emirates and the United Kingdom), Asia-Pacific (Australia, Bangladesh, the People’s Republic of China including Hong Kong and Taiwan, India, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Sri Lanka, and Thailand) and Latin America (Brazil, Chile, Colombia, Costa Rica, Mexico, Peru, Uruguay and our Latin American export operations in Miami).
We do not allocate stock-based compensation expense or time-vested and performance-vested cash-based compensation recognized to our reportable segments (see Note 3, “Employee Awards”) and certain Corporate costs; therefore, we are reporting these amounts separately. Assets by reportable segment are not presented below as our CODM does not review assets by reportable segment.
Financial information by reportable segment is as follows:
Thirteen Weeks EndedTwenty-Six Weeks Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net sales
North America$5,280,152 $4,982,224 $10,278,531 $9,416,775 
EMEA3,746,319 3,479,414 7,652,573 6,904,151 
Asia-Pacific4,420,853 3,478,838 8,526,730 7,097,020 
Latin America1,083,745 853,480 2,036,216 1,656,853 
Total$14,531,069 $12,793,956 $28,494,050 $25,074,799 
Thirteen Weeks EndedTwenty-Six Weeks Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Significant segment expenses
Cost of sales
North America$4,916,964 $4,635,787 $9,543,998 $8,717,727 
EMEA3,460,377 3,214,261 7,080,434 6,383,746 
Asia-Pacific4,223,104 3,332,841 8,160,106 6,808,610 
Latin America971,945 771,908 1,824,817 1,496,795 
Total$13,572,390 $11,954,797 $26,609,355 $23,406,878 
Compensation
North America$202,997 $215,061 $394,402 $422,254 
EMEA148,613 137,416 294,141 265,466 
Asia-Pacific57,407 52,969 111,395 103,716 
Latin America40,146 32,698 77,844 64,443 
Total$449,163 $438,144 $877,782 $855,879 
Depreciation costs
North America$21,988 $21,739 $44,140 $42,336 
EMEA3,143 3,830 6,324 7,344 
Asia-Pacific1,280 1,463 2,682 2,988 
Latin America1,205 1,051 2,476 2,016 
Total$27,616 $28,083 $55,622 $54,684 
Intangible asset amortization
North America$10,037 $10,529 $20,077 $21,043 
EMEA6,445 6,234 12,899 12,096 
Asia-Pacific4,295 4,307 8,604 8,584 
Latin America882 797 1,763 1,574 
Total$21,659 $21,867 $43,343 $43,297 
Other departmental operating expenses (a)
North America$68,376 $51,034 $141,010 $101,792 
EMEA44,316 41,738 89,827 81,487 
Asia-Pacific19,186 25,819 39,103 45,537 
Latin America16,961 12,343 32,794 25,688 
Total$148,839 $130,934 $302,734 $254,504 
Integration and transition costs (b)
North America$69 $33,338 $79 $35,177 
EMEA101 40 444 356 
Asia-Pacific1,089 38 1,095 125 
Latin America195 9 274 11 
Total$1,454 $33,425 $1,892 $35,669 
Other segment items (c)
North America$(13,810)$(18,109)$(21,208)$(40,781)
EMEA28,745 20,181 51,652 40,694 
Asia-Pacific20,512 17,767 44,460 37,493 
Latin America11,885 9,553 21,683 18,235 
Total$47,332 $29,392 $96,587 $55,641 
Total segment expenses$14,268,453 $12,636,642 $27,987,315 $24,706,552 
Thirteen Weeks EndedTwenty-Six Weeks Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Income from operations
North America$73,531 $32,845 $156,033 $117,227 
EMEA54,579 55,714 116,852 112,962 
Asia-Pacific93,980 43,634 159,285 89,967 
Latin America40,526 25,121 74,565 48,091 
Segment profit$262,616 $157,314 $506,735 $368,247 
Reconciliation of segment profit to income before income taxes
Corporate$(13,008)$(2,698)$(20,841)$(5,510)
Cash-based compensation(2,629)(5,475)(2,798)(9,968)
Stock-based compensation(11,009)(6,325)(24,211)(9,089)
Other (income) expense
Interest income$(14,897)$(10,065)$(25,142)$(23,883)
Interest expense76,253 72,884 146,789 147,773 
Net foreign currency exchange loss11,716 20,611 11,414 44,328 
Other expense (income)5,355 (499)27,672 15,174 
Income before income taxes$157,543 $59,885 $298,152 $160,288 
(a) Other Departmental Operating Expenses consist primarily of professional and outside service costs, lease rental and occupancy costs, repair and maintenance costs as well as other miscellaneous operating expenses.
(b) Costs are primarily related to (i) legal settlements, (ii) charges associated with business exit and liquidation-related items, (iii) acquisition-related items and (iv) consulting, retention and transition costs associated with our reorganization programs charged to SG&A expenses.
(c) Other segment items consist primarily of management fees and direct management costs which represent costs that are incurred by the North American segment and allocated to the other segments, as well as bad debt/credit/flooring costs, restructuring costs and credit card fees.