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CONCENTRATION OF BUSINESS | 12 Months Ended
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Mar. 31, 2024
Risks and Uncertainties [Abstract] |
CONCENTRATION OF BUSINESS | CONCENTRATION OF BUSINESS Regions and Customers. The Company sells its products globally to customers and consumers in various countries, with net sales concentrations as follows:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
International net sales | $ | 1,424,089 |  |  | $ | 1,175,789 |  |  | $ | 982,546 |
% of net sales | 33.2 | % |  | 32.4 | % |  | 31.2 | %
Net sales in foreign currencies | $ | 1,105,057 |  |  | $ | 832,632 |  |  | $ | 744,213 |
% of net sales | 25.8 | % |  | 23.0 | % |  | 23.6 | %
Ten largest global customers as % of net sales | 24.2 | % |  | 25.2 | % |  | 27.4 | %
For the years ended March 31, 2024, 2023, and 2022, no single foreign country comprised 10.0% or more of the Company’s total net sales. No single global customer accounted for 10.0% or more of the Company’s total net sales during the years ended March 31, 2024, 2023, and 2022. As of March 31, 2024, the Company has two customers that represent 31.2% of trade accounts receivable, net, compared to no customers that represent 10.0% of trade accounts receivable, net, as of March 31, 2023. Management performs regular evaluations concerning the ability of the Company’s customers to satisfy their obligations to the Company and recognizes an allowance for doubtful accounts based on these evaluations. Cash and Cash Equivalents. The Company maintains a portion of its cash in Federal Deposit Insurance Corporation insured bank deposit accounts which, at times, may exceed federally insured limits. To date, the Company has not experienced any losses in such accounts. Based on the size and strength of the banking institutions used, the Company does not believe it is exposed to any significant credit risks in cash. Designated Suppliers. The Company outsources the production of its products to independent manufacturers, which are primarily located in Asia. Sheepskin is the principal raw material for certain UGG brand products and most of the Company’s sheepskin is purchased from two tanneries in China, which is sourced primarily from Australia, and is also the source of the repurposed wool in UGGplush. Sugarcane-derived EVA is also utilized within certain UGG brand products and is predominately purchased by our designated suppliers from one company in Brazil for the production of soles. Excluding sheepskin, UGGplush, sugarcane-derived EVA, and certain branded materials for materials like outsoles, the Company believes substantially all raw materials and components used to manufacture its products, including virgin wool, rubber, leather, and nylon webbing, are generally available from multiple sources at competitive prices. Long-Lived Assets. Long-lived assets, which consist of property and equipment, net, recorded in the consolidated balance sheets, are as follows:
| As of March 31,
| 2024 |  | 2023
United States | $ | 270,561 |  |  | $ | 244,529 |
Foreign (1) | 31,561 |  |  | 22,150 |
Total | $ | 302,122 |  |  | $ | 266,679 |
(1) No single foreign country’s property and equipment, net, represents 10.0% or more of the Company’s total property and equipment, net, as of March 31, 2024, and 2023.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent + Details
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