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Major Customer, Segment and Geographic Information | 12 Months Ended
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Dec. 28, 2013
Major Customer, Segment and Geographic Information |
Major Customer, Segment and Geographic Information | 19. 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 activities and catalog costs. 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. Intercompany profit attributable to the Company's factory operations is included in the Asia Pacific wholesale and Europe wholesale segments in accordance with the geographic location of the factories. These intercompany factory profits are eliminated in consolidation. Summary information by operating segment is as follows (in thousands):
|  | Fiscal Year 2013 |
--- | --- | --- | ---
|  | Net Sales |  | Operating Income |  | Depreciation and Amortization |  | Long-term Assets |  | Total Assets |
North America wholesale: |  |  |  |  |  |  |  | $ | 7,886 |  | $ | 260,506 |  | $ | 680,025 |
External customers |  | $ | 1,216,634 |  | $ | 305,834 |  |  |  |  |  |  |  |  |  |
Intersegment |  |  | 209,913 |  |  |  |  |  |  |  |  |  |  |  |  |
Europe wholesale: |  |  |  |  |  |  |  |  | 9,324 |  |  | 185,892 |  |  | 535,261 |
External customers |  |  | 828,098 |  |  | 219,041 |  |  |  |  |  |  |  |  |  |
Intersegment |  |  | 172,943 |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific wholesale: |  |  |  |  |  |  |  |  | 4,764 |  |  | 42,943 |  |  | 516,553 |
External customers |  |  | 396,641 |  |  | 129,971 |  |  |  |  |  |  |  |  |  |
Intersegment |  |  | 970,985 |  |  |  |  |  |  |  |  |  |  |  |  |
Direct to consumer |  |  | 818,598 |  |  | 88,082 |  |  | 30,798 |  |  | 161,245 |  |  | 335,208 |
Intersegment items |  |  | (1,353,841 | ) |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  |  |  |  |  | (181,332 | ) |  | 21,495 |  |  | 100,366 |  |  | 163,367 |
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Consolidated |  | $ | 3,259,971 |  | $ | 561,596 |  | $ | 74,267 |  | $ | 750,952 |  | $ | 2,230,414 |
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|  | Fiscal Year 2012 |
--- | --- | --- | ---
|  | Net Sales |  | Operating Income |  | Depreciation and Amortization |  | Long-term Assets |  | Total Assets |
North America wholesale: |  |  |  |  |  |  |  | $ | 4,880 |  | $ | 236,639 |  | $ | 610,979 |
External customers |  | $ | 1,083,489 |  | $ | 246,616 |  |  |  |  |  |  |  |  |  |
Intersegment |  |  | 203,266 |  |  |  |  |  |  |  |  |  |  |  |  |
Europe wholesale: |  |  |  |  |  |  |  |  | 6,529 |  |  | 150,977 |  |  | 354,823 |
External customers |  |  | 696,988 |  |  | 174,469 |  |  |  |  |  |  |  |  |  |
Intersegment |  |  | 166,952 |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific wholesale: |  |  |  |  |  |  |  |  | 3,958 |  |  | 37,639 |  |  | 416,825 |
External customers |  |  | 361,514 |  |  | 127,263 |  |  |  |  |  |  |  |  |  |
Intersegment |  |  | 757,480 |  |  |  |  |  |  |  |  |  |  |  |  |
Direct to consumer |  |  | 715,517 |  |  | 98,754 |  |  | 26,259 |  |  | 170,461 |  |  | 313,498 |
Intersegment items |  |  | (1,127,698 | ) |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  |  |  |  |  | (158,262 | ) |  | 18,880 |  |  | 102,161 |  |  | 145,864 |
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Consolidated |  | $ | 2,857,508 |  | $ | 488,840 |  | $ | 60,506 |  | $ | 697,877 |  | $ | 1,841,989 |
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|  | Fiscal Year 2011 |
--- | --- | --- | ---
|  | Net Sales |  | Operating Income |  | Depreciation and Amortization |  | Long-term 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 |
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Consolidated |  | $ | 2,567,302 |  | $ | 471,991 |  | $ | 45,220 |  | $ | 407,520 |  | $ | 1,642,922 |
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The following table indicates revenue for each class of similar products for fiscal years 2013, 2012 and 2011 (in thousands):
|  | Fiscal Year 2013 |  | Fiscal Year 2012 |  | Fiscal Year 2011 |
--- | --- | --- | --- | --- | --- | --- | ---
|  | Net Sales |  | Percentage of Total |  | Net Sales |  | Percentage of Total |  | Net Sales |  | Percentage of Total |
Watches |  | $ | 2,513,081 |  |  | 77.1 | % | $ | 2,141,481 |  |  | 74.9 | % | $ | 1,843,909 |  |  | 71.8 | %
Leathers |  |  | 436,285 |  |  | 13.4 |  |  | 440,113 |  |  | 15.4 |  |  | 427,771 |  |  | 16.7 |
Jewelry |  |  | 228,748 |  |  | 7.0 |  |  | 181,636 |  |  | 6.4 |  |  | 190,126 |  |  | 7.4 |
Other |  |  | 81,857 |  |  | 2.5 |  |  | 94,278 |  |  | 3.3 |  |  | 105,496 |  |  | 4.1 |
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Total |  | $ | 3,259,971 |  |  | 100.0 | % | $ | 2,857,508 |  |  | 100.0 | % | $ | 2,567,302 |  |  | 100.0 | %
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Geographic Information Net sales 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 2013 |
--- | --- | --- | ---
|  | Net Sales |  | Long-term Assets |
United States |  | $ | 1,525,107 |  | $ | 411,458 |
Europe |  |  | 1,052,497 | (1) |  | 264,173 |
Asia Pacific |  |  | 504,124 |  |  | 65,091 |
All other international |  |  | 178,243 |  |  | 10,230 |
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Consolidated |  | $ | 3,259,971 |  | $ | 750,952 |
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|  | Fiscal Year 2012 |
--- | --- | --- | ---
|  | Net Sales |  | Long-term Assets |
United States |  | $ | 1,354,337 |  | $ | 391,232 |
Europe |  |  | 880,012 | (1) |  | 241,766 |
Asia Pacific |  |  | 448,217 |  |  | 54,150 |
All other international |  |  | 174,942 |  |  | 10,729 |
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Consolidated |  | $ | 2,857,508 |  | $ | 697,877 |
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|  | Fiscal Year 2011 |
--- | --- | --- | ---
|  | Net Sales |  | Long-term Assets |
United States |  | $ | 1,255,148 |  | $ | 209,576 |
Europe |  |  | 858,452 | (1) |  | 158,324 |
Asia Pacific |  |  | 358,904 |  |  | 31,609 |
All other international |  |  | 94,798 |  |  | 8,011 |
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Consolidated |  | $ | 2,567,302 |  | $ | 407,520 |
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(1) Wholesale sales within Germany, excluding sales to third-party distributors, accounted for more than 10% of the Company's consolidated net sales and were approximately $425.1 million, $354.4 million and $384.9 million of consolidated net sales in fiscal years 2013, 2012 and 2011, respectively. These sales include $100.7 million, $72.4 million and $71.9 million of sales by our German entity to countries outside Germany, excluding sales to third-party distributors, for fiscal years 2013, 2012 and 2011, respectively.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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