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Segment Reporting

12 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company has three reportable segments, Malibu, Cobalt and Pursuit. The Malibu segment participates in the manufacturing, distribution, marketing and sale of Malibu and Axis performance sports boats throughout the world. The Cobalt and Pursuit segments participate in the manufacturing, distribution, marketing and sale of Cobalt and Pursuit boats, respectively, throughout the world.

The Company revised its segment reporting effective July 1, 2019 to conform to changes in its internal management reporting based on the Company’s boat manufacturing operations. Prior to this change in reporting segments, the Company had four reportable segments, Malibu U.S., Malibu Australia, Cobalt and Pursuit. The Company now aggregates Malibu U.S. and Malibu Australia into one reportable segment as they have similar economic characteristics and qualitative factors. All segment information in the accompanying consolidated financial statements has been revised to conform to the Company’s current reporting segments for comparison purposes.

The following table presents financial information for the Company’s reportable segments for fiscal years ended June 30, 2020, 2019, and 2018.

Fiscal Year Ended June 30, 2020
			Malibu						Cobalt						Pursuit 1						Total
Net sales			$	354,769					$	174,768					$	123,626					$	653,163
Depreciation and amortization			8,809						5,258						4,313						18,380
Net income before provision for income taxes			55,567						17,275						10,890						83,732
Capital expenditures			10,260						8,850						22,181						41,291
Long-lived assets			49,771						121,508						114,196						285,475
Total assets			$	194,502					$	153,820					$	129,024					$	477,346
Fiscal Year Ended June 30, 2019
			Malibu						Cobalt						Pursuit 1						Total
Net sales			$	374,611					$	206,598					$	102,807					$	684,016
Depreciation and amortization			7,674						5,252						3,034						15,960
Net income before provision for income taxes			54,160						28,691						8,946						91,797
Capital expenditures			9,153						4,404						4,381						17,938
Long-lived assets			49,207						117,702						96,312						263,221
Total assets			$	185,154					$	151,481					$	114,679					$	451,314
Fiscal Year Ended June 30, 2018
			Malibu						Cobalt						Pursuit 1						Total
Net sales			$	316,687					$	180,315					$	—					$	497,002
Depreciation and amortization			7,468						5,386						—						12,854
Net income before provision for income taxes			69,670						19,717						—						89,387
Capital expenditures			9,279						1,170						—						10,449
Long-lived assets			48,784						118,512						—						167,296
Total assets			$	208,152					$	157,616					—						$	365,768

¹ Represents the results of Pursuit since the acquisition on October 15, 2018.

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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