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Operating Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment |
For the three months ended, |  | Wholesale Footwear |  | Wholesale Accessories/Apparel |  | Direct-to-Consumer |  | Licensing |  | Total Segment |  | Corporate (1) |  | Consolidated
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 299,315 |  |  | $ | 196,400 |  |  | $ | 125,455 |  |  | $ | 3,505 |  |  | $ | 624,675 |  |  | $ | — |  |  | $ | 624,675 |
Gross profit |  | $ | 110,778 |  |  | $ | 64,963 |  |  | $ | 80,298 |  |  | $ | 3,505 |  |  | $ | 259,544 |  |  | $ | — |  |  | $ | 259,544 |
Income/(loss) from operations |  | $ | 64,255 |  |  | $ | 30,661 |  |  | $ | 1,499 |  |  | $ | 3,228 |  |  | $ | 99,643 |  |  | $ | (25,065) |  |  | $ | 74,578 |
Depreciation and amortization |  | $ | 855 |  |  | $ | 1,154 |  |  | $ | 1,816 |  |  | $ | — |  |  | $ | 3,825 |  |  | $ | 1,342 |  |  | $ | 5,167 |
Capital expenditures |  | $ | 682 |  |  | $ | 10 |  |  | $ | 6,033 |  |  | $ | — |  |  | $ | 6,725 |  |  | $ | 645 |  |  | $ | 7,370 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 306,058 |  |  | $ | 127,395 |  |  | $ | 116,393 |  |  | $ | 2,886 |  |  | $ | 552,732 |  |  | $ | — |  |  | $ | 552,732 |
Gross profit |  | $ | 112,288 |  |  | $ | 43,366 |  |  | $ | 74,085 |  |  | $ | 2,886 |  |  | $ | 232,625 |  |  | $ | — |  |  | $ | 232,625 |
Income/(loss) from operations |  | $ | 68,291 |  |  | $ | 24,164 |  |  | $ | 9,741 |  |  | $ | 2,157 |  |  | $ | 104,353 |  |  | $ | (21,615) |  |  | $ | 82,738 |
Depreciation and amortization |  | $ | 619 |  |  | $ | 575 |  |  | $ | 1,122 |  |  | $ | — |  |  | $ | 2,316 |  |  | $ | 1,565 |  |  | $ | 3,881 |
Capital expenditures |  | $ | 1,577 |  |  | $ | 39 |  |  | $ | 3,520 |  |  | $ | — |  |  | $ | 5,136 |  |  | $ | 970 |  |  | $ | 6,106 |
For the nine months ended, |  | Wholesale Footwear |  | Wholesale Accessories/Apparel |  | Direct-to-Consumer |  | Licensing |  | Total Segment |  | Corporate (1) |  | Consolidated
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 832,000 |  |  | $ | 487,252 |  |  | $ | 374,194 |  |  | $ | 7,163 |  |  | $ | 1,700,609 |  |  | $ | — |  |  | $ | 1,700,609 |
Gross profit |  | $ | 298,186 |  |  | $ | 158,558 |  |  | $ | 237,581 |  |  | $ | 7,163 |  |  | $ | 701,488 |  |  | $ | — |  |  | $ | 701,488 |
Income/(loss) from operations |  | $ | 166,309 |  |  | $ | 64,178 |  |  | $ | 14,564 |  |  | $ | 5,924 |  |  | $ | 250,975 |  |  | $ | (72,781) |  |  | $ | 178,194 |
Depreciation and amortization |  | $ | 2,230 |  |  | $ | 3,445 |  |  | $ | 4,796 |  |  | $ | — |  |  | $ | 10,471 |  |  | $ | 4,265 |  |  | $ | 14,736 |
Capital expenditures |  | $ | 2,304 |  |  | $ | 198 |  |  | $ | 12,277 |  |  | $ | — |  |  | $ | 14,779 |  |  | $ | 1,863 |  |  | $ | 16,642 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 823,288 |  |  | $ | 286,935 |  |  | $ | 344,197 |  |  | $ | 7,448 |  |  | $ | 1,461,868 |  |  | $ | — |  |  | $ | 1,461,868 |
Gross profit |  | $ | 298,856 |  |  | $ | 96,590 |  |  | $ | 214,693 |  |  | $ | 7,448 |  |  | $ | 617,587 |  |  | $ | — |  |  | $ | 617,587 |
Income/(loss) from operations |  | $ | 174,072 |  |  | $ | 44,983 |  |  | $ | 15,823 |  |  | $ | 5,247 |  |  | $ | 240,125 |  |  | $ | (66,836) |  |  | $ | 173,289 |
Depreciation and amortization |  | $ | 1,806 |  |  | $ | 1,730 |  |  | $ | 3,238 |  |  | $ | — |  |  | $ | 6,774 |  |  | $ | 4,364 |  |  | $ | 11,138 |
Capital expenditures |  | $ | 2,271 |  |  | $ | 130 |  |  | $ | 7,633 |  |  | $ | — |  |  | $ | 10,034 |  |  | $ | 3,865 |  |  | $ | 13,899 |
(1) Corporate does not constitute a reportable segment and includes costs not directly attributable to the segments. These costs are primarily related to expenses associated with corporate executives, corporate finance, corporate social responsibility, legal, human resources, information technology, cyber security and other shared services.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The following table reconciles total segment gross profit to income before provision for income taxes.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Total segment gross profit |  | $ | 259,544 |  |  | $ | 232,625 |  |  | $ | 701,488 |  |  | $ | 617,587 |
Operating expenses |  | (178,915) |  |  | (149,887) |  |  | (507,343) |  |  | (444,298) |
Change in valuation of contingent payment liability |  | 2,584 |  |  | — |  |  | (5,616) |  |  | — |
Impairment of intangibles |  | (8,635) |  |  | — |  |  | (10,335) |  |  | — |
Interest and other income - net |  | 1,400 |  |  | 1,922 |  |  | 4,309 |  |  | 5,898 |
Income before provision for income taxes |  | $ | 75,978 |  |  | $ | 84,660 |  |  | $ | 182,503 |  |  | $ | 179,187 |
The following table reconciles total segment income from operations to income before provision for income taxes.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Total segment income from operations |  | $ | 99,643 |  |  | $ | 104,353 |  |  | $ | 250,975 |  |  | $ | 240,125 |
Corporate costs |  | (25,065) |  |  | (21,615) |  |  | (72,781) |  |  | (66,836) |
Interest and other income - net |  | 1,400 |  |  | 1,922 |  |  | 4,309 |  |  | 5,898 |
Income before provision for income taxes |  | $ | 75,978 |  |  | $ | 84,660 |  |  | $ | 182,503 |  |  | $ | 179,187 |
Revenue from External Customers by Geographic Areas | The following table summarizes revenue by geographic areas:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Domestic (1) |  | $ | 503,269 |  |  | $ | 443,435 |  |  | $ | 1,386,593 |  |  | $ | 1,182,981 |
International |  | 121,406 |  |  | 109,297 |  |  | 314,016 |  |  | 278,887 |
Total |  | $ | 624,675 |  |  | $ | 552,732 |  |  | $ | 1,700,609 |  |  | $ | 1,461,868 |
(1) Includes revenues of $77,005 and $245,128, respectively, for the three and nine months ended September 30, 2024 and $73,205 and $195,272, respectively, for the comparable period in 2023 related to sales to U.S. customers where the title is transferred outside the U.S. and the sale is recorded by the Company's international entities.

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