v3.26.3
Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information
NOTE 3 — SEGMENT INFORMATION

The Company defines its operating segments on the basis of the way in which internally reported financial information is regularly reviewed by the chief operating decision maker ("CODM") to analyze performance, make decisions, and allocate resources. The Company aggregates its operating segments with similar economic and operating characteristics into four reportable segments: U.S., LAAP, EMEA, and Canada. These reportable segments are organized by geographic location. Each geographic segment operates predominantly in one industry: the design, development, marketing, and distribution of outdoor, active and lifestyle products, including apparel, footwear, accessories, and equipment.

The Company’s CODM is the Company’s Chief Executive Officer. The Company’s CODM assesses the segments’ performance by using each segment's operating income.

The CODM uses each segment's operating income to allocate resources predominantly in the annual budget and forecasting process. The CODM considers plan-to-actual variances on a quarterly basis for the segment operating income profit measure when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses this profit measure to assess the performance of each segment by comparing the results of each segment with one another, and in the overall strategic planning for each segment.

Intersegment net sales and intersegment profits, which are recorded at a negotiated mark-up and eliminated in consolidation, are not material. Unallocated corporate expenses consist of expenses incurred by centrally-managed departmental functions, including certain information technology, supply chain, finance, human resources, and legal functions, as well as executive compensation, unallocated benefit program expense, indefinite-lived intangible asset and goodwill impairment charges, and other miscellaneous costs.

The following tables present segment financial information for the Company's reportable segments:
Three Months Ended September 30, 2026
(in thousands)
U.S.
LAAP
EMEA
Canada
Total
Net sales
$540,872 $159,453 $175,285 $86,972 $962,582 
Cost of sales
280,758 74,399 85,155 43,251 483,563 
Segment selling, general and administrative expenses
142,791 53,557 46,782 15,783 258,913 
Other segment items(a)
15,822 6,870 4,096 4,053 30,841 
Segment operating income101,501 24,627 39,252 23,885 189,265 
Reconciliation to income before income tax:
Unallocated corporate expenses
79,656 
Operating income
109,609 
Interest income, net
2,795 
Other non-operating expense, net(837)
Income before income tax
$111,567 
(a) For each reportable segment, other segment items include certain corporate expenses and net licensing income allocated to each of the reportable segments, as well as net licensing income directly attributable to each of the reportable segments.


Three Months Ended September 30, 2025
(in thousands)
U.S.
LAAP
EMEA
Canada
Total
Net sales
$546,690 $143,358 $164,461 $88,916 $943,425 
Cost of sales
275,920 66,286 82,662 46,739 471,607 
Segment selling, general and administrative expenses
157,008 50,260 39,864 15,321 262,453 
Other segment items(a)
16,708 5,694 3,714 4,035 30,151 
Segment operating income97,054 21,118 38,221 22,821 179,214 
Reconciliation to income before income tax:
Unallocated corporate expenses
111,828 
Operating income67,386 
Interest income, net
2,870 
Other non-operating income, net
732 
Income before income tax$70,988 
(a) For each reportable segment, other segment items include certain corporate expenses and net licensing income allocated to each of the reportable segments, as well as net licensing income directly attributable to each of the reportable segments.
The following table presents segment depreciation and amortization expense information:

Three Months Ended September 30,
Nine Months Ended September 30,
(in thousands)
2026202520262025
Depreciation and amortization expense:
U.S.$6,189 $6,663 $18,726 $19,405 
LAAP1,580 1,842 4,845 5,020 
EMEA1,367 1,207 3,936 3,420 
Canada720 797 2,249 2,318 
Unallocated corporate expense3,733 3,707 11,338 11,984 
$13,589 $14,216 $41,094 $42,147 

The following table presents segment asset information:
 As of
(in thousands)
September 30, 2026December 31, 2025
Inventories:
U.S.$558,613 $416,041 
LAAP145,339 118,633 
EMEA126,628 106,508 
Canada58,662 48,274 
Total segment assets
889,242 689,456 
All other assets
1,901,124 2,239,037 
Total assets
$2,790,366 $2,928,493 
CONCENTRATIONS

No single customer accounted for 10% or more of Net sales for the three and nine months ended September 30, 2026 and 2025.