v2.4.0.8
Segment Information
 12 Months Ended
Dec. 28, 2013
Segment Information
8. Segment Information
 
The Company has identified five operating segments for external reporting purposes – auto/mobile, aviation, marine, outdoor and fitness. There are three operating segments (auto PND, auto OEM and mobile) that are not reported separately but aggregated within the auto/mobile reportable segment. Each operating segment is individually reviewed and evaluated by our Chief Operating Decision Maker (CODM), who allocates resources and assesses performance of each segment individually.
 
All of the Company’s reportable segments offer products through the Company’s network of independent dealers and distributors as well as through OEM’s. However, the nature of products and types of customers for the five reportable segments vary. The Company’s marine, auto/mobile, outdoor, and fitness segments include portable global positioning system (GPS) receivers and accessories sold primarily to retail outlets. These products are produced primarily by the Company’s subsidiary in Taiwan. The Company’s aviation products are portable and panel mount avionics for Visual Flight Rules and Instrument Flight Rules navigation and are sold primarily to aviation dealers and certain aircraft manufacturers.
 
The Company’s Chief Executive Officer has been identified as the CODM. The CODM evaluates performance and allocates resources based on income before income taxes of each segment. Income before income taxes represents net sales less operating expenses including certain allocated general and administrative costs, interest income and expense, foreign currency adjustments, and other non-operating corporate expenses. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. There are no inter-segment sales or transfers.
 
The Company’s reportable segments share many common resources, infrastructures and assets in the normal course of business. Thus, the Company does not report accounts receivable, inventories, property and equipment, intangible assets, or capital expenditures by segment to the CODM.
 
Revenues, interest income, and income before income taxes for each of the Company’s reportable segments are presented below:
  
 
 
Fiscal Year Ended December 28, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Auto/
 
 
 
 
 
 
Aviation
 
Outdoor
 
Fitness
 
Marine
 
Mobile
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales to external customers
 
$
339,337
 
$
410,989
 
$
356,283
 
$
222,928
 
$
1,302,314
 
$
2,631,851
 
Allocated interest income
 
 
2,445
 
 
6,030
 
 
5,150
 
 
3,777
 
 
17,869
 
 
35,271
 
Income before income taxes
 
 
93,083
 
 
168,549
 
 
131,411
 
 
25,993
 
 
234,522
 
 
653,558
 
 
 
 
Fiscal Year Ended December 29, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Auto/
 
 
 
 
 
 
Aviation
 
Outdoor
 
Fitness
 
Marine
 
Mobile
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales to external customers
 
$
291,564
 
$
401,747
 
$
321,788
 
$
208,136
 
$
1,492,440
 
$
2,715,675
 
Allocated interest income
 
 
1,546
 
 
3,951
 
 
3,799
 
 
2,838
 
 
22,974
 
 
35,108
 
Income before income taxes
 
 
75,177
 
 
167,734
 
 
114,274
 
 
35,725
 
 
231,618
 
 
624,528
 
 
 
 
Fiscal Year Ended December 31, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Auto/
 
 
 
 
 
 
Aviation
 
Outdoor
 
Fitness
 
Marine
 
Mobile
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales to external customers
 
$
284,855
 
$
363,223
 
$
298,163
 
$
221,730
 
$
1,590,598
 
$
2,758,569
 
Allocated interest income
 
 
1,250
 
 
4,496
 
 
4,342
 
 
2,934
 
 
19,790
 
 
32,812
 
Income before income taxes
 
 
73,226
 
 
171,245
 
 
107,881
 
 
60,092
 
 
171,717
 
 
584,161
 
 
Net sales, long-lived assets (property and equipment), and net assets by geographic area are as shown below for the years ended December 28, 2013, December 29, 2012, and December 31, 2011. Note that APAC refers to the Asia Pacific region, and EMEA includes Europe, the Middle East and Africa.
 
 
 
Americas
 
APAC
 
EMEA
 
Total
 
December 28, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales to external customers
 
$
1,432,895
 
$
243,056
 
$
955,900
 
$
2,631,851
 
Property and equipment, net
 
 
239,528
 
 
121,012
 
 
54,308
 
 
414,848
 
Net assets (1)
 
 
1,338,401
 
 
2,048,903
 
 
272,402
 
 
3,659,706
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 29, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales to external customers
 
$
1,513,457
 
$
256,882
 
$
945,336
 
$
2,715,675
 
Property and equipment, net
 
 
222,310
 
 
134,257
 
 
53,184
 
 
409,751
 
Net assets (1)
 
 
1,262,498
 
 
2,028,984
 
 
240,314
 
 
3,531,796
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales to external customers
 
$
1,527,508
 
$
248,057
 
$
983,004
 
$
2,758,569
 
Property and equipment, net
 
 
225,505
 
 
143,913
 
 
47,687
 
 
417,105
 
Net assets (1)
 
 
1,155,653
 
 
1,915,284
 
 
185,644
 
 
3,256,581
 
 
(1) Americas and APAC net assets are primarily held in the United States and Taiwan, respectively.