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SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2019
SEGMENT INFORMATION |
SEGMENT INFORMATION | 18. SEGMENT INFORMATION The Company has two reportable segments: North American wholesale operations (“wholesale”) and North American retail operations (“retail”). The chief operating decision maker, the Company’s Chief Executive Officer, evaluates the performance of the Company’s segments based on earnings from operations. Therefore, interest income or expense, other income or expense, and income taxes are not allocated to the segments. The “other” category in the table below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification. In the wholesale segment, shoes are marketed through more than 10,000 footwear, department and specialty stores, primarily in the United States and Canada. Licensing revenues are also included in the Company’s wholesale segment. The Company has licensing agreements with third parties who sell its branded apparel, accessories and specialty footwear in the United States, as well as its footwear in Mexico and certain markets overseas. In 2019 and 2018, there was no single customer with sales of 10% or more of the Company’s total sales. In the retail segment, the Company operated eight brick and mortar retail stores and e-commerce businesses in the United States at December 31, 2019. Sales in retail outlets are made directly to the consumer by Company employees. These retail stores sell the Company’s branded footwear, primarily Florsheim, and accessories. The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies. Summarized segment data for the years ended December 31, 2019 and 2018 was as follows:
|  | Wholesale |  | Retail |  | Other |  | Total
|  | (Dollars in thousands)
2019 |  |  |  |  |  |  |  |  |  |  |  |
Product sales |  | $ | 239,091 |  | $ | 25,231 |  | $ | 36,653 |  | $ | 300,975
Licensing revenues |  |  | 3,036 |  |  | — |  |  | — |  |  | 3,036
Net sales |  |  | 242,127 |  |  | 25,231 |  |  | 36,653 |  |  | 304,011
Depreciation |  |  | 2,088 |  |  | 315 |  |  | 889 |  |  | 3,292
Earnings (loss) from operations |  |  | 27,755 |  |  | 2,791 |  |  | (3,506) |  |  | 27,040
Total assets |  |  | 250,266 |  |  | 11,783 |  |  | 34,868 |  |  | 296,917
Capital expenditures |  |  | 6,902 |  |  | 20 |  |  | 470 |  |  | 7,392
2018 |  |  |  |  |  |  |  |  |  |  |  |
Product sales |  | $ | 230,831 |  | $ | 22,683 |  | $ | 42,330 |  | $ | 295,844
Licensing revenues |  |  | 2,531 |  |  | — |  |  | — |  |  | 2,531
Net sales |  |  | 233,362 |  |  | 22,683 |  |  | 42,330 |  |  | 298,375
Depreciation |  |  | 2,425 |  |  | 331 |  |  | 956 |  |  | 3,712
Earnings (loss) from operations |  |  | 23,106 |  |  | 2,732 |  |  | (379) |  |  | 25,459
Total assets |  |  | 239,119 |  |  | 4,440 |  |  | 26,485 |  |  | 270,044
Capital expenditures |  |  | 648 |  |  | 76 |  |  | 686 |  |  | 1,410
All North American corporate office assets are included in the wholesale segment. Transactions between segments primarily consist of sales between the wholesale and retail segments. Intersegment sales are valued at the cost of inventory plus an estimated cost to ship the products. Intersegment sales have been eliminated and are excluded from net sales in the above table. Geographic Segments Financial information relating to the Company’s business by geographic area was as follows for the years ended December 31, 2019 and 2018:
|  | 2019 |  | 2018
|  | (Dollars in thousands)
Net Sales |  |  |  |  |  |
United States |  | $ | 245,073 |  | $ | 234,782
Canada |  |  | 22,285 |  |  | 21,263
Europe |  |  | 6,223 |  |  | 7,849
Australia |  |  | 22,459 |  |  | 26,038
Asia |  |  | 5,085 |  |  | 5,442
South Africa |  |  | 2,886 |  |  | 3,001
Total |  | $ | 304,011 |  | $ | 298,375
Long-Lived Assets |  |  |  |  |  |
United States |  | $ | 81,603 |  | $ | 70,018
Other |  |  | 16,972 |  |  | 6,490
|  | $ | 98,575 |  | $ | 76,508
Net sales attributed to geographic locations are based on the location of the assets producing the sales. Long-lived assets by geographic location consist of property, plant and equipment (net), operating lease ROU assets, goodwill, trademarks, investment in real estate and amortizable intangible assets.

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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 + Details
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