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SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2020
SEGMENT INFORMATION |
SEGMENT INFORMATION | 17. SEGMENT INFORMATION The Company has two reportable segments: North American wholesale operations (“wholesale”) and North American retail operations (“retail”). The Company’s Chief Executive Officer, evaluates the performance of the Company’s segments based on earnings (loss) 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 2020 and 2019, there was no single customer with sales of 10% or more of the Company’s total sales. In the retail segment, the Company operated e-commerce businesses and five brick and mortar retail stores in the United States at December 31, 2020. Retail sales are made directly to the consumer by Company employees. 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, 2020 and 2019 was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Wholesale |  | Retail |  | Other |  | Total
​ | ​ | (Dollars in thousands)
2020 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product sales | ​ | $ | 151,012 | ​ | $ | 21,499 | ​ | $ | 21,690 | ​ | $ | 194,201
Licensing revenues | ​ |  | 1,174 | ​ |  | — | ​ |  | — | ​ |  | 1,174
Net sales | ​ |  | 152,186 | ​ |  | 21,499 | ​ |  | 21,690 | ​ |  | 195,375
Depreciation | ​ |  | 1,973 | ​ |  | 211 | ​ |  | 717 | ​ |  | 2,901
Earnings (loss) from operations | ​ |  | 975 | (1) |  | (1,073) | (2) |  | (7,500) | (3) |  | (7,598)
Total assets | ​ |  | 222,255 | ​ |  | 7,374 | ​ |  | 27,090 | ​ |  | 256,719
Capital expenditures | ​ |  | 3,095 | ​ |  | 30 | ​ |  | 243 | ​ |  | 3,368
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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
​
(1) | Includes $2.0 million in employee costs related to restructuring and temporary closures, $4.3 million from two large customer receivable write-offs due to bankruptcies filed during the pandemic, and $0.2 million in other related charges, partially offset by $1.7 million of income from government wage subsidies.
(2) | Includes $0.3 million in employee costs related to restructuring and temporary closures, $1.0 million for the impairment of retail store fixed assets, and $1.5 million in early lease termination charges, partially offset by $0.2 million of income from government wage subsidies.
(3) | Includes $3.6 million in employee costs related to restructuring and temporary closures, $2.1 million for the impairment of retail store fixed assets and operating lease right-of-use assets, $2.0 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.3 million in related charges, partially offset by $3.5 million of income from government wage and rent subsidies.
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, 2020 and 2019:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
​ | ​ | (Dollars in thousands)
Net Sales |  | ​ |  |  | ​ |
United States | ​ | $ | 155,955 | ​ | $ | 245,073
Canada | ​ |  | 17,730 | ​ |  | 22,285
Europe | ​ |  | 2,600 | ​ |  | 6,223
Australia | ​ |  | 15,252 | ​ |  | 22,459
Asia | ​ |  | 1,969 | ​ |  | 5,085
South Africa | ​ |  | 1,869 | ​ |  | 2,886
Total | ​ | $ | 195,375 | ​ | $ | 304,011
​ | ​ | ​ | ​ | ​ | ​ | ​
Long-Lived Assets | ​ |  |  | ​ |  |
United States | ​ | $ | 77,975 | ​ | $ | 81,603
Other | ​ |  | 9,756 | ​ |  | 16,972
​ | ​ | $ | 87,731 | ​ | $ | 98,575
​ 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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