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Business Segment

12 Months Ended

Dec. 31, 2024

Business Segment

Business Segment

Note 15: Business Segment

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MPC has one reportable segment — its Powerboat Manufacturing business. The Chief Operating Decision Maker (CODM) makes resource allocation and performance assessment decisions based on this segment as a whole. MPC's CODM is the Chief Executive Officer.

​

Significant segment expenses for the years ended December 31, 2024, 2023 and 2022 are shown in the following table:

​

​	​	​	​	​	​	​	​	​	​
(in thousands)		2024		​	2023		​	2022
Materials	​	$	123,441	​	$	203,847	​	$	199,469
Overhead	​	​	22,987	​	​	25,575	​	​	23,428
Labor costs	​	​	25,887	​	​	33,907	​	​	33,147
Other cost of goods sold (1)	​	​	18,742	​	​	30,021	​	​	31,234
Cost of goods sold	​	$	191,057	​	$	293,350	​	$	287,278
​	​	​	​	​	​	​	​	​	​
Employment costs	​	$	17,580	​	$	28,439	​	$	26,713
Warranty expense	​	​	3,616	​	​	5,829	​	​	5,903
Other selling, general and administrative expenses (2)	​	​	6,180	​	​	8,945	​	​	9,305
Selling, general and administrative expenses	​	$	27,376	​	$	43,213	​	$	41,921

⁽¹⁾ Comprised primarily of accessories costs.

⁽²⁾ Includes professional fees, advertising & promotions, and other costs.

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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.

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