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Segment Information and Geographic Data | 3 Months Ended
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Mar. 29, 2025
Segment Reporting [Abstract] |
Segment Information and Geographic Data | 11. Segment Information and Geographic Data Garmin is organized in the five operating segments of fitness, outdoor, aviation, marine, and auto OEM, which represent the primary markets served by the Company. These operating segments are also the Company's reportable segments. The Company’s Chief Executive Officer, who has been identified as the Company’s Chief Operating Decision Maker (CODM), primarily 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. 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 reasonable manner considering the specific facts and circumstances of the expenses being allocated. The accounting policies of the segments are the same as those described in Note 1 - Accounting Policies. There are no inter-segment sales or transfers. The Company’s segments share many common resources, infrastructures and assets in the normal course of business, and certain assets are therefore not separately tracked by segment. Thus, the Company does not report accounts receivable, inventories, property and equipment, intangible assets, capital expenditures, depreciation expense, or amortization expense by segment to the CODM. The CODM utilizes operating income to assess segment performance and make strategic decisions about the allocation of operating and capital resources by analyzing future opportunities and recent operating income results, trends, and variances of each segment in relation to forecasts and historical performance. Net sales (“revenue”), cost of goods sold, gross profit, significant segment expenses, and operating income for each of the Company’s five reportable segments are presented below.
|  | Fitness |  |  | Outdoor |  |  | Aviation |  |  | Marine |  |  | Auto OEM |  |  | Total |
13-Weeks Ended March 29, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 384,722 |  |  | $ | 438,496 |  |  | $ | 223,114 |  |  | $ | 319,438 |  |  | $ | 169,329 |  |  | $ | 1,535,099 |
Cost of goods sold |  |  | 164,580 |  |  |  | 155,960 |  |  |  | 55,212 |  |  |  | 135,505 |  |  |  | 139,297 |  |  |  | 650,554 |
Gross profit |  |  | 220,142 |  |  |  | 282,536 |  |  |  | 167,902 |  |  |  | 183,933 |  |  |  | 30,032 |  |  |  | 884,545 |
Research and development expense |  |  | 50,457 |  |  |  | 63,063 |  |  |  | 84,198 |  |  |  | 43,986 |  |  |  | 26,416 |  |  |  | 268,120 |
Selling, general and administrative expenses |  |  | 91,973 |  |  |  | 90,685 |  |  |  | 35,348 |  |  |  | 53,082 |  |  |  | 12,513 |  |  |  | 283,601 |
Operating income (loss) |  |  | 77,712 |  |  |  | 128,788 |  |  |  | 48,356 |  |  |  | 86,865 |  |  |  | (8,897 | ) |  |  | 332,824 |
13-Weeks Ended March 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 342,892 |  |  | $ | 366,193 |  |  | $ | 216,855 |  |  | $ | 326,736 |  |  | $ | 128,973 |  |  | $ | 1,381,649 |
Cost of goods sold |  |  | 148,090 |  |  |  | 123,454 |  |  |  | 54,229 |  |  |  | 147,484 |  |  |  | 106,253 |  |  |  | 579,510 |
Gross profit |  |  | 194,802 |  |  |  | 242,739 |  |  |  | 162,626 |  |  |  | 179,252 |  |  |  | 22,720 |  |  |  | 802,139 |
Research and development expense |  |  | 43,789 |  |  |  | 56,671 |  |  |  | 77,647 |  |  |  | 39,036 |  |  |  | 25,392 |  |  |  | 242,535 |
Selling, general and administrative expenses |  |  | 82,880 |  |  |  | 79,118 |  |  |  | 32,845 |  |  |  | 52,524 |  |  |  | 13,827 |  |  |  | 261,194 |
Operating income (loss) |  |  | 68,133 |  |  |  | 106,950 |  |  |  | 52,134 |  |  |  | 87,692 |  |  |  | (16,499 | ) |  |  | 298,410 |
Net sales to external customers by geographic region for the 13-week period ended March 29, 2025 and March 30, 2024 are presented below. Note that Americas includes North America and South America, EMEA includes Europe, the Middle East and Africa, and APAC includes Asia Pacific and Australian Continent.
|  | 13-Weeks Ended |
|  | March 29, 2025 |  |  | March 30, 2024 |
Americas (1) |  | $ | 745,733 |  |  | $ | 716,116 |
EMEA |  |  | 568,953 |  |  |  | 463,384 |
APAC |  |  | 220,413 |  |  |  | 202,149 |
Net sales to external customers |  | $ | 1,535,099 |  |  | $ | 1,381,649 |
(1) The United States is the only country which constitutes greater than 10% of net sales to external customers. |

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- Definition The entire disclosure for reporting segments including data and tables. 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