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Major Customer, Segment And Geographic Information
 12 Months Ended
Dec. 31, 2011
Major Customer, Segment And Geographic Information [Abstract]  
Major Customer, Segment And Geographic Information

17. Major Customer, Segment and Geographic Information

In accordance with ASC 280, Segment Reporting ("ASC 280") the Company reports segment information based on the "management" approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company's reportable segments.

Major Customer

Wholesale customers of the Company consist principally of major department stores and specialty retail stores located throughout the world. No individual customer accounts for 10% or more of the Company's net sales.

Segment Information

The Company manages its business primarily on a geographic basis. The Company's reportable operating segments are comprised of North America wholesale, Europe wholesale, Asia Pacific wholesale and Direct to consumer. The North America wholesale, Europe wholesale and Asia Pacific wholesale reportable segments do not include activities related to the Direct to consumer segment. The North America wholesale segment primarily includes sales to wholesale or distributor customers based in Canada, Mexico, the United States and countries in South America. The Europe wholesale segment primarily includes sales to wholesale or distributor customers based in European countries, the Middle East and Africa. The Asia Pacific wholesale segment primarily includes sales to wholesale or distributor customers based in Australia, China (including the Company's assembly and procurement operations), India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan and Thailand. The Direct to consumer segment includes Company-owned retail stores, e-commerce sales and catalog activities. Each reportable operating segment provides similar products and services.

The Company evaluates the performance of its reportable segments based on net sales and operating income. Net sales for geographic segments are generally based on the location of the customers. Operating income for each segment includes net sales to third-parties, related cost of sales and operating expenses directly attributable to the segment. General corporate expenses, including certain administrative, legal, accounting, technology support costs, equity compensation costs, payroll costs attributable to executive management and amounts related to intercompany eliminations are not allocated to the various segments. Intercompany sales of products between segments are referred to as intersegment items.

Certain reclassifications were made to prior fiscal year amounts to conform with current fiscal year presentation. Due to changes in the Company's reportable segments as discussed in Note 1 to the consolidated financial statements, segment results for fiscal years 2009 were recast to present results on a comparable basis. These changes had no impact on consolidated net sales or operating income. Summary information by operating segment is as follows (in thousands):

 

Fiscal Year 2011  
     Net Sales     Operating
Income		     Depreciation and
Amortization		      Long-lived
Assets 		     Total Assets   

North America wholesale:

        $ 2,912       $ 65,332       $ 524,615   

External customers

    $ 967,493      $ 235,003           

Intersegment

      161,640             

Europe wholesale:

          5,377         83,107         436,775   

External customers

      695,391        187,762           

Intersegment

      154,654             

Asia Pacific wholesale:

          2,448         16,067         258,343   

External customers

      297,045        108,756           

Intersegment

      709,336             

Direct to consumer

      607,373        87,187        21,409         141,039         246,911   

Intersegment items

      (1,025,630 )           

Corporate

        (146,717 )      13,074         101,975         176,278   
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Consolidated

    $ 2,567,302      $ 471,991      $ 45,220       $ 407,520       $ 1,642,922   
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

 

     Fiscal Year 2010  
     Net Sales     Operating
Income		     Depreciation and
Amortization		      Long-lived
Assets 		     Total Assets   

North America wholesale:

        $ 3,547       $ 98,970       $ 585,616   

External customers

    $ 779,159      $ 188,155           

Intersegment

      151,304             

Europe wholesale:

          3,954         85,048         383,301   

External customers

      547,428        154,729           

Intersegment

      100,661             

Asia Pacific wholesale:

          2,291         17,193         188,459   

External customers

      220,777        82,037           

Intersegment

      592,403             

Direct to consumer

      483,326        66,339        21,452         96,017         217,620   

Intersegment items

      (844,368 )           

Corporate

        (114,846 )      9,058         29,528         92,577   
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Consolidated

    $ 2,030,690      $ 376,414      $ 40,302       $ 326,756       $ 1,467,573   
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

 

 

     Fiscal Year 2009  
     Net Sales     Operating
Income		     Depreciation and
Amortization		      Long-lived
Assets 		     Total Assets   

North America wholesale:

        $ 3,355       $ 93,065       $ 459,076   

External customers

    $ 551,117      $ 103,272           

Intersegment

      181,207             

Europe wholesale:

          4,176         104,813         430,921   

External customers

      467,099        91,295           

Intersegment

      43,037             

Asia Pacific wholesale:

          2,303         18,793         189,172   

External customers

      153,739        57,507           

Intersegment

      349,896             

Direct to consumer

      376,138        39,047        21,385         82,766         142,986   

Intersegment items

      (574,140 )           

Corporate

        (79,494 )      9,661         30,573         54,328   
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Consolidated

    $ 1,548,093      $ 211,627      $ 40,880       $ 330,010       $ 1,276,483   
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

The following table indicates revenue for each class of similar products for fiscal years 2011, 2010, and 2009 (in thousands):

 

     Fiscal Year 2011     Fiscal Year 2010     Fiscal Year 2009  
     Net Sales      Percentage of Total     Net Sales      Percentage of Total     Net Sales      Percentage of Total  

Watches

    $ 1,843,909         71.8 %    $ 1,419,205         69.9 %    $ 1,021,181         66.0 % 

Leathers

      427,771         16.7        340,405         16.8        297,591         19.2   

Jewelry

      190,126         7.4        166,183         8.2        133,949         8.7   

Other

      105,496         4.1        104,897         5.1        95,372         6.1   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

Total

    $ 2,567,302         100.0 %    $ 2,030,690         100.0 %    $ 1,548,093         100.0 % 
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

Geographic Information

Net sales, operating income and long-lived assets related to the Company's operations in the U.S., Europe, Asia Pacific and all other international markets were as follows (in thousands):

 

     Fiscal Year 2011  
     Net Sales      Long-lived Assets   

United States

    $ 1,255,148       $ 209,576   

Europe

      858,452         158,324   

Asia Pacific

      358,904         31,609   

All other international

      94,798         8,011   
  

 

 

     

 

 

  

Consolidated

    $ 2,567,302       $ 407,520   
  

 

 

     

 

 

  

 

     Fiscal Year 2010  
     Net Sales      Long-lived Assets   

United States

    $ 1,028,840       $ 161,472   

Europe

      670,959         135,087   

Asia Pacific

      267,158         23,617   

All other international

      63,733         6,580   
  

 

 

     

 

 

  

Consolidated

    $ 2,030,690       $ 326,756   
  

 

 

     

 

 

  

 

     Fiscal Year 2009  
     Net Sales      Long-lived Assets   

United States

    $ 757,837       $ 161,636   

Europe

      563,061         142,234   

Asia Pacific

      183,599         19,418   

All other international

      43,596         6,722   
  

 

 

     

 

 

  

Consolidated

    $ 1,548,093       $ 330,010