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Business Segments, Geographic Data and Sales by Major Customers | 6 Months Ended
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Jun. 30, 2024
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, 2024 and 2023 and as of June 30, 2024 and December 31, 2023 are as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Toys/Consumer Products |  | $ | 104,570 |  |  | $ | 117,934 |  |  | $ | 187,480 |  |  | $ | 215,827 |
Costumes |  |  | 44,049 |  |  |  | 48,999 |  |  |  | 51,215 |  |  |  | 58,590 |
|  | $ | 148,619 |  |  | $ | 166,933 |  |  | $ | 238,695 |  |  | $ | 274,417 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Income (Loss) from Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Toys/Consumer Products |  | $ | 9,710 |  |  | $ | 15,687 |  |  | $ | (7,500 | ) |  | $ | 14,526 |
Costumes |  |  | (2,067 | ) |  |  | 761 |  |  |  | (6,181 | ) |  |  | (2,478 | )
|  | $ | 7,643 |  |  | $ | 16,448 |  |  | $ | (13,681 | ) |  | $ | 12,048 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Depreciation and Amortization Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Toys/Consumer Products |  | $ | 2,096 |  |  | $ | 2,330 |  |  | $ | 3,595 |  |  | $ | 3,490 |
Costumes |  |  | 38 |  |  |  | 63 |  |  |  | 53 |  |  |  | 94 |
|  | $ | 2,134 |  |  | $ | 2,393 |  |  | $ | 3,648 |  |  | $ | 3,584 |
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Assets |  |  |  |  |  |  |  |
Toys/Consumer Products |  | $ | 311,399 |  |  | $ | 383,812 |
Costumes |  |  | 66,852 |  |  |  | 15,139 |
|  | $ | 378,251 |  |  | $ | 398,951 |
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, 2024 and December 31, 2023 and for the three and six months ended June 30, 2024 and 2023 (in thousands):
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Long-lived Assets |  |  |  |  |  |  |  |
United States |  | $ | 19,240 |  |  | $ | 21,206 |
China |  |  | 15,316 |  |  |  | 13,794 |
United Kingdom |  |  | 1,007 |  |  |  | 892 |
Hong Kong |  |  | 980 |  |  |  | 1,410 |
Italy |  |  | 817 |  |  |  | 811 |
Mexico |  |  | 43 |  |  |  | 55 |
Canada |  |  | 10 |  |  |  | 23 |
|  | $ | 37,413 |  |  | $ | 38,191 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net Sales by Customer Area |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 125,837 |  |  | $ | 136,187 |  |  | $ | 196,267 |  |  | $ | 216,630 |
Europe |  |  | 10,264 |  |  |  | 16,638 |  |  |  | 15,999 |  |  |  | 26,800 |
Latin America |  |  | 3,239 |  |  |  | 3,067 |  |  |  | 11,235 |  |  |  | 12,271 |
Canada |  |  | 6,288 |  |  |  | 6,799 |  |  |  | 9,658 |  |  |  | 10,853 |
Australia & New Zealand |  |  | 1,607 |  |  |  | 1,756 |  |  |  | 2,953 |  |  |  | 3,364 |
Asia |  |  | 1,268 |  |  |  | 1,831 |  |  |  | 2,233 |  |  |  | 3,211 |
Middle East & Africa |  |  | 116 |  |  |  | 655 |  |  |  | 350 |  |  |  | 1,288 |
|  | $ | 148,619 |  |  | $ | 166,933 |  |  | $ | 238,695 |  |  | $ | 274,417 |
Major Customers Net sales to major customers for the three and six months ended June 30, 2024 and 2023 were as follows (in thousands, except for percentages):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  |  |  |  |  | Percentage |  |  |  |  |  |  | Percentage |  |  |  |  |  |  | Percentage |  |  |  |  |  |  | Percentage |
|  | Amount |  |  | of Net Sales |  |  | Amount |  |  | of Net Sales |  |  | Amount |  |  | of Net Sales |  |  | Amount |  |  | of Net Sales |
Target |  | $ | 41,412 |  |  |  | 27.8 | % |  | $ | 49,646 |  |  |  | 29.8 | % |  | $ | 68,079 |  |  |  | 28.5 | % |  | $ | 79,081 |  |  |  | 28.8 | %
Walmart |  |  | 34,745 |  |  |  | 23.4 |  |  |  | 35,085 |  |  |  | 21.0 |  |  |  | 56,039 |  |  |  | 23.5 |  |  |  | 58,359 |  |  |  | 21.3 |
|  | $ | 76,157 |  |  |  | 51.2 | % |  | $ | 84,731 |  |  |  | 50.8 | % |  | $ | 124,118 |  |  |  | 52.0 | % |  | $ | 137,440 |  |  |  | 50.1 | %
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. 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