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v3.23.2

Business Segments, Geographic Data, and Sales by Major Customers | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | Note 2 — Business Segments, Geographic Data and Sales by Major Customers The Company is a worldwide producer and marketer of children’s toys and other consumer products, principally engaged in the design, development, production, marketing and distribution of its diverse portfolio of products. The Company’s segments are (i) Toys/Consumer Products and (ii) Costumes. The Toys/Consumer Products segment includes action figures, vehicles, play sets, plush products, dolls, electronic products, construction toys, infant and pre-school toys, child-sized and hand-held role play toys and everyday costume play, foot-to-floor ride-on vehicles, wagons, novelty toys, seasonal and outdoor products, kids’ indoor and outdoor furniture, and related products. The Costumes segment, under its Disguise branding, designs, develops, markets and sells a wide range of every-day and special occasion dress-up costumes and related accessories in support of Halloween, Carnival, Children’s Day, Book Day/Week, and every-day/any-day costume play. Segment performance is measured at the operating income (loss) level. All sales are made to external customers and general corporate expenses have been attributed to the segments based upon relative sales volumes. Segment assets are primarily comprised of accounts receivable and inventories, net of applicable reserves and allowances, goodwill and other assets. Certain assets which are not tracked by operating segment and/or that benefit multiple operating segments have been allocated on the same basis. Results are not necessarily those which would be achieved if each segment was an unaffiliated business enterprise. Information by segment and a reconciliation to reported amounts for the three and six months ended June 30, 2023 and 2022 and as of June 30, 2023 and December 31, 2022 are as follows (in thousands):
` |  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Toys/Consumer Products |  | $ | 117,934 |  |  | $ | 148,860 |  |  | $ | 215,827 |  |  | $ | 259,983 |
Costumes |  |  | 48,999 |  |  |  | 71,562 |  |  |  | 58,590 |  |  |  | 81,320 |
|  | $ | 166,933 |  |  | $ | 220,422 |  |  | $ | 274,417 |  |  | $ | 341,303 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Income from Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Toys/Consumer Products |  | $ | 15,687 |  |  | $ | 18,447 |  |  | $ | 14,526 |  |  | $ | 20,454 |
Costumes |  |  | 761 |  |  |  | 5,213 |  |  |  | (2,478 | ) |  |  | 2,472 |
|  | $ | 16,448 |  |  | $ | 23,660 |  |  | $ | 12,048 |  |  | $ | 22,926 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Depreciation and Amortization Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Toys/Consumer Products |  | $ | 2,330 |  |  | $ | 2,312 |  |  | $ | 3,490 |  |  | $ | 4,037 |
Costumes |  |  | 63 |  |  |  | 244 |  |  |  | 94 |  |  |  | 331 |
|  | $ | 2,393 |  |  | $ | 2,556 |  |  | $ | 3,584 |  |  | $ | 4,368 |
|  |  |  |  |  |  |  | June 30, |  |  | December 31, |
|  |  |  |  |  |  |  |  |  | 2023 |  |  | 2022 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Toys/Consumer Products |  |  |  |  |  |  |  |  |  | $ | 297,441 |  |  | $ | 377,605 |
Costumes |  |  |  |  |  |  |  |  |  |  | 71,500 |  |  |  | 27,737 |
|  |  |  |  |  |  |  |  |  | $ | 368,941 |  |  | $ | 405,342 |
Net revenues are categorized based upon location of the customer, while long-lived assets are categorized based upon the location of the Company’s assets. The following tables present information about the Company by geographic area as of June 30, 2023 and December 31, 2022 and for the three and six months ended June 30, 2023 and 2022 (in thousands):
|  |  |  |  |  |  |  | June 30, |  |  | December 31, |
|  |  |  |  |  |  |  | 2023 |  |  | 2022 |
Long-lived Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
China |  |  |  |  |  |  |  |  |  | $ | 16,734 |  |  | $ | 14,161 |
United States |  |  |  |  |  |  |  |  |  |  | 13,062 |  |  |  | 17,383 |
Hong Kong |  |  |  |  |  |  |  |  |  |  | 1,736 |  |  |  | 2,142 |
United Kingdom |  |  |  |  |  |  |  |  |  |  | 896 |  |  |  | 974 |
Mexico |  |  |  |  |  |  |  |  |  |  | 64 |  |  |  | 69 |
Canada |  |  |  |  |  |  |  |  |  |  | 35 |  |  |  | 46 |
|  |  |  |  |  |  |  |  |  | $ | 32,527 |  |  | $ | 34,775 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Net Sales by Customer Area |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 136,187 |  |  | $ | 192,484 |  |  | $ | 216,630 |  |  | $ | 289,534 |
Europe |  |  | 16,638 |  |  |  | 14,447 |  |  |  | 26,800 |  |  |  | 27,836 |
Latin America |  |  | 3,067 |  |  |  | 3,823 |  |  |  | 12,271 |  |  |  | 6,208 |
Canada |  |  | 6,799 |  |  |  | 5,537 |  |  |  | 10,853 |  |  |  | 8,916 |
Australia & New Zealand |  |  | 1,756 |  |  |  | 1,582 |  |  |  | 3,364 |  |  |  | 3,073 |
Asia |  |  | 1,831 |  |  |  | 2,363 |  |  |  | 3,211 |  |  |  | 4,439 |
Middle East & Africa |  |  | 655 |  |  |  | 186 |  |  |  | 1,288 |  |  |  | 1,297 |
|  | $ | 166,933 |  |  | $ | 220,422 |  |  | $ | 274,417 |  |  | $ | 341,303 |
Major Customers Net sales to major customers for the three and six months ended June 30, 2023 and 2022 were as follows (in thousands, except for percentages):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  |  |  |  |  | Percentage |  |  |  |  |  |  | Percentage |  |  |  |  |  |  | Percentage |  |  |  |  |  |  | Percentage |
|  | Amount |  |  | of Net Sales |  |  | Amount |  |  | of Net Sales |  |  | Amount |  |  | of Net Sales |  |  | Amount |  |  | of Net Sales |
Target |  | $ | 49,646 |  |  |  | 29.8 | % |  | $ | 65,122 |  |  |  | 29.6 | % |  | $ | 79,081 |  |  |  | 28.8 | % |  | $ | 100,792 |  |  |  | 29.5 | %
Wal-Mart |  |  | 35,085 |  |  |  | 21.0 |  |  |  | 70,371 |  |  |  | 31.9 |  |  |  | 58,359 |  |  |  | 21.3 |  |  |  | 93,391 |  |  |  | 27.4 |
|  | $ | 84,731 |  |  |  | 50.8 | % |  | $ | 135,493 |  |  |  | 61.5 | % |  | $ | 137,440 |  |  |  | 50.1 | % |  | $ | 194,183 |  |  |  | 56.9 | %
No other customer accounted for more than 10% of the Company's total net sales. The concentration of the Company’s business with a relatively small number of customers may expose the Company to material adverse effects if one or more of its large customers were to experience financial difficulty. The Company performs ongoing credit evaluations of its top customers and maintains an allowance for potential credit losses.

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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