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Segment Information

12 Months Ended

Dec. 30, 2017

Segment Reporting [Abstract]

Segment Information

8. Segment Information

The Company has identified five reportable segments for external reporting purposes – auto, aviation, marine, outdoor and fitness. There are two operating segments (auto PND and auto OEM) that are not reported separately but aggregated within the auto reportable segment. Each operating segment is individually reviewed and evaluated by the 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 OEMs. However, the nature of products and types of customers for the five reportable segments vary. The Company’s marine, auto, 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 uses operating income as the measure of profit or loss to assess segment performance and allocate resources. Operating income represents net sales less costs of goods sold and operating expenses, including certain allocated general and administrative costs. 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, gross profit, and operating income for each of the Company’s reportable segments are presented below. In 2016 the Company moved action camera related revenue and expenses from the outdoor segment to the auto segment, allowing for alignment and synergies with other camera-based efforts occurring within the auto segment. The overall impact of the move was immaterial. However, action camera related operating results for the 52-weeks ended December 26, 2015 has been recast to conform to the 2017 and 2016 presentation.

		Reportable Segments

52-Weeks Ended December 30, 2017		Outdoor				Fitness				Marine				Auto				Aviation				Total

Net sales		$	698,867			$	762,194			$	374,001			$	750,583			$	501,359			$	3,087,004
Gross profit			448,410				422,636				212,592				327,921				371,605				1,783,164
Operating income			249,867				146,765				50,328				67,967				153,933				668,860

53-Weeks Ended December 31, 2016

Net sales		$	546,326			$	818,486			$	331,947			$	882,558			$	439,348			$	3,018,665
Gross profit			340,504				437,205				183,709				388,747				329,405				1,679,570
Operating income			184,035				160,596				52,167				102,347				124,764				623,909

52-Weeks Ended December 26, 2015

Net sales		$	411,184			$	661,599			$	286,778			$	1,062,091			$	398,618			$	2,820,270
Gross profit			254,878				366,139				158,493				464,480				294,714				1,538,704
Operating income			139,070				134,574				28,611				136,069				111,257				549,581

Net sales, long-lived assets (property and equipment), and net assets by geographic area are as shown below for the years ended December 30, 2017, December 31, 2016, and December 26, 2015. Note that APAC refers to the Asia Pacific region, and EMEA includes Europe, the Middle East and Africa.

		Americas				APAC				EMEA				Total
December 30, 2017
Net sales to external customers ⁽¹⁾		$	1,475,661			$	436,188			$	1,175,155			$	3,087,004
Property and equipment, net			381,974				173,392				40,318				595,684
Net assets ⁽²⁾			2,325,569				982,898				493,999				3,802,466

December 31, 2016
Net sales to external customers ⁽¹⁾		$	1,518,934			$	386,549			$	1,113,182			$	3,018,665
Property and equipment, net			300,158				144,470				38,250				482,878
Net assets ⁽²⁾			2,153,161				933,999				330,843				3,418,003

December 26, 2015
Net sales to external customers ⁽¹⁾		$	1,469,243			$	337,888			$	1,013,139			$	2,820,270
Property and equipment, net			294,234				111,700				40,154				446,089
Net assets ⁽²⁾			2,110,108				921,410				313,608				3,345,126

⁽¹⁾The U.S. is the only country which constitutes greater than 10% of net sales to external customers.

⁽²⁾Americas and APAC net assets are primarily held in the United States and Taiwan, respectively.