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Segment Information
 12 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment Information

21.  SEGMENT INFORMATION:

Change in Reportable Segments

Effective May 2, 2021, our reportable segments changed as a result of the Company’s acquisition of Cruisers Yachts, which changed management’s reporting structure and operating activities. We now report our operations through two new reportable segments: Retail Operations and Product Manufacturing.

Reportable Segments

The Company’s segments are defined by management’s reporting structure and operating activities. Our chief operating decision maker (“CODM”) is our Chief Executive Officer. Our CODM reviews operational income statement information by segment for purposes of making operating decisions, assessing financial performance, and allocating resources. The CODM is not provided asset information by segment. The Company’s reportable segments are the following:

Retail Operations. As of September 30, 2021, the Retail Operations segment includes the sale of new and used recreational boats, including pleasure and fishing boats, with a focus on premium brands in each segment. We also sell related marine products, including engines, trailers, parts, and accessories. In addition, we provide repair, maintenance, and slip and storage services; we arrange related boat financing, insurance, and extended service contracts; we offer boat and yacht brokerage sales; yacht charter services. In the British Virgin Islands we offer the charter of catamarans, through MarineMax Vacations. Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies with operations in multiple countries, are also included in this segment. The Retail Operations segment includes the majority of all corporate costs.

Product Manufacturing. As of September 30, 2021, the Product Manufacturing segment includes activity of Cruisers Yachts, a wholly-owned MarineMax subsidiary, manufacturing sport yacht and yachts with sales through our select retail dealership locations and through independent dealers. Cruisers Yachts is recognized as one of the world’s premier manufacturers of premium sport yacht and yachts, producing models from 33’ to 60’ feet.

Intersegment revenue represents yachts that were manufactured in our Product Manufacturing segment and were sold to our Retail Operations segment. The Product Manufacturing segment supplies our Retail Operations segment along with various independent dealers.

The following table sets forth depreciation and amortization for each of the Company’s reportable segments for the fiscal years ended September 30,

 

 

 

2019

 

 

2020

 

 

2021

 

 

 

(Amounts in thousands)

 

Depreciation:

 

 

 

 

 

 

 

 

 

 

 

 

Retail Operations

 

$

11,583

 

 

$

12,756

 

 

$

13,821

 

Product Manufacturing

 

 

—

 

 

 

—

 

 

 

32

 

Depreciation

 

$

11,583

 

 

$

12,756

 

 

$

13,853

 

Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Retail Operations

 

$

14

 

 

$

16

 

 

$

1,429

 

Product Manufacturing

 

 

—

 

 

 

—

 

 

 

324

 

Amortization

 

$

14

 

 

$

16

 

 

$

1,753

 

 

The following table sets forth revenue and income from operations for each of the Company’s reportable segments for the fiscal years ended September 30,

 

 

 

2019

 

 

2020

 

 

2021

 

 

 

(Amounts in thousands)

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Retail Operations

 

$

1,237,153

 

 

$

1,509,713

 

 

$

2,043,613

 

Product Manufacturing

 

 

—

 

 

 

—

 

 

 

44,000

 

Elimination of intersegment revenue

 

 

—

 

 

 

—

 

 

 

(24,356

)

Revenue

 

$

1,237,153

 

 

$

1,509,713

 

 

$

2,063,257

 

Income from operations:

 

 

 

 

 

 

 

 

 

 

 

 

Retail Operations

 

$

60,532

 

 

$

106,715

 

 

$

207,034

 

Product Manufacturing

 

 

—

 

 

 

—

 

 

 

6,940

 

Elimination of intersegment income from operations

 

 

—

 

 

 

—

 

 

 

(4,515

)

Income from operations

 

$

60,532

 

 

$

106,715

 

 

$

209,459