XML 23 R12.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information
 6 Months Ended
Jun. 27, 2020
Segment Reporting [Abstract]  
Segment Information

4.

Segment Information

 

The Company has identified five reportable segments – auto, aviation, fitness, marine, and outdoor.  There are two operating segments, auto personal navigation devices (“auto PND”) and auto original equipment manufacturer solutions (“auto OEM”) that are not reported separately but are aggregated within the auto reportable segment.  The Company’s Chief Executive Officer, who has been identified as the Chief Operating Decision Maker (CODM), uses operating income as the measure of profit or loss, combined with other measures, to assess segment performance and allocate resources. Operating income represents net sales less costs of goods sold and operating expenses. Net sales are directly attributed to each segment. Most costs of goods sold and the majority of operating expenses are also directly attributed to each segment, while certain other costs of goods sold and operating expenses are allocated to the segments in a manner appropriate to the specific facts and circumstances of the expenses being allocated.

 

Net sales (“revenue”), gross profit, and operating income for each of the Company’s reportable segments are presented below.

 

 

 

Reportable Segments

 

 

 

Fitness

 

 

Outdoor

 

 

Aviation

 

 

Auto

 

 

Marine

 

 

Total

 

13-Weeks Ended June 27, 2020

 

Net sales

 

$

294,642

 

 

$

206,200

 

 

$

126,140

 

 

$

85,058

 

 

$

157,827

 

 

$

869,867

 

Gross profit

 

 

156,817

 

 

 

133,189

 

 

 

92,036

 

 

 

39,918

 

 

 

93,470

 

 

 

515,430

 

Operating income

 

 

71,981

 

 

 

67,414

 

 

 

15,566

 

 

 

(10,125

)

 

 

43,553

 

 

 

188,389

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13-Weeks Ended June 29, 2019

 

Net sales

 

$

251,653

 

 

$

210,404

 

 

$

183,965

 

 

$

157,411

 

 

$

151,407

 

 

$

954,840

 

Gross profit

 

 

135,136

 

 

 

135,508

 

 

 

138,177

 

 

 

74,861

 

 

 

91,683

 

 

 

575,365

 

Operating income

 

 

50,413

 

 

 

71,336

 

 

 

66,834

 

 

 

24,908

 

 

 

42,730

 

 

 

256,221

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26-Weeks Ended June 27, 2020

 

Net sales

 

$

518,242

 

 

$

381,302

 

 

$

314,739

 

 

$

190,860

 

 

$

320,832

 

 

$

1,725,975

 

Gross profit

 

 

269,142

 

 

 

245,447

 

 

 

230,844

 

 

 

89,257

 

 

 

187,680

 

 

 

1,022,370

 

Operating income

 

 

102,992

 

 

 

114,581

 

 

 

74,887

 

 

 

(10,300

)

 

 

83,712

 

 

 

365,872

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26-Weeks Ended June 29, 2019

 

Net sales

 

$

431,908

 

 

$

364,455

 

 

$

354,741

 

 

$

284,410

 

 

$

285,376

 

 

$

1,720,890

 

Gross profit

 

 

225,970

 

 

 

232,996

 

 

 

266,160

 

 

 

132,198

 

 

 

169,739

 

 

 

1,027,063

 

Operating income

 

 

68,537

 

 

 

113,290

 

 

 

124,451

 

 

 

33,121

 

 

 

68,205

 

 

 

407,604

 

 

 

Net sales to external customers by geographic region were as follows for the 13-week and 26-week periods ended June 27, 2020 and June 29, 2019. Note that APAC includes Asia Pacific and Australian Continent and EMEA includes Europe, the Middle East and Africa:

 

 

 

 

 

13-Weeks Ended

 

 

26-Weeks Ended

 

 

 

June 27, 2020

 

 

June 29, 2019

 

 

June 27, 2020

 

 

June 29, 2019

 

Americas

 

$

423,091

 

 

$

470,840

 

 

$

850,491

 

 

$

850,296

 

EMEA

 

 

335,201

 

 

 

338,595

 

 

 

635,069

 

 

 

598,615

 

APAC

 

 

111,575

 

 

 

145,405

 

 

 

240,415

 

 

 

271,979

 

Net sales to external customers

 

$

869,867

 

 

$

954,840

 

 

$

1,725,975

 

 

$

1,720,890

 

 

Net property and equipment by geographic region as of June 27, 2020 and June 29, 2019 are presented below.

 

 

 

Americas

 

 

APAC

 

 

EMEA

 

 

Total

 

June 27, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$

465,023

 

 

$

247,617

 

 

$

78,535

 

 

$

791,175

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 29, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$

424,127

 

 

$

216,648

 

 

$

61,333

 

 

$

702,108