Major Customer, Segment and Geographic Information

12 Months Ended

Dec. 28, 2019

Major Customer, Segment and Geographic Information

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 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.

The Company manages its business primarily on a geographic basis. The Company's reportable operating segments are comprised of (i) Americas, (ii) Europe and (iii) Asia. Each reportable operating segment includes sales to wholesale and distributor customers, and sales through Company-owned retail stores and e-commerce activities based on the location of the selling entity. The Americas segment primarily includes sales to customers based in Canada, Latin America and the United States. The Europe segment primarily includes sales to customers based in European countries, the Middle East and Africa. The Asia segment primarily includes sales to customers based in Australia, China (including Hong Kong, Macau and Taiwan), India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea and Thailand. 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 (loss). Net sales for geographic segments are based on the location of the selling entity. Operating income (loss) for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Corporate includes peripheral revenue generating activities from factories and intellectual property and general corporate expenses, including certain administrative, legal, accounting, technology support costs, equity compensation costs, payroll costs attributable to executive management, brand management, product development, art, creative/product design, marketing, strategy, compliance and back office supply chain expenses that are not allocated to the various segments because they are managed at the corporate level internally. The Company does not include intercompany transfers between segments for management reporting purposes.

Summary information by operating segment was as follows (in thousands):



	Fiscal Year 2019
	Net Sales		Operating Income (Loss)			Depreciation and Amortization		Long-term Assets		Total Assets
Americas	$	949,965	$	66,703		$	15,104	$	164,097	$	474,428
Europe	715,494		88,323			15,099		171,952		406,603
Asia	535,156		101,209			6,724		89,434		298,034
Corporate	17,097		(284,618		)	16,515		119,791		425,667
Consolidated	$	2,217,712	$	(28,383	)	$	53,442	$	545,274	$	1,604,732



	Fiscal Year 2018
	Net Sales		Operating Income (Loss)			Depreciation and Amortization		Long-term Assets		Total Assets
Americas	$	1,174,507	$	185,094		$	16,542	$	61,914	$	393,273
Europe	856,291		129,610			18,933		99,253		353,797
Asia	505,473		87,515			8,016		29,990		173,666
Corporate	5,217		(339,508		)	23,588		125,472		654,462
Consolidated	$	2,541,488	$	62,711		$	67,079	$	316,629	$	1,575,198



	Fiscal Year 2017
	Net Sales		Operating Income			Depreciation and Amortization		Long-term Assets		Total Assets
Americas	$	1,314,348	$	(47,836	)	$	21,214	$	81,444	$	463,175
Europe	971,820		32,871			21,368		113,621		471,375
Asia	496,392		(12,490		)	10,798		33,160		216,660
Corporate	5,603		(396,821		)	28,197		139,159		507,162
Consolidated	$	2,788,163	$	(424,276	)	$	81,577	$	367,384	$	1,658,372

The following table shows revenue for each class of similar products for fiscal years 2019, 2018 and 2017 (in thousands):



	Fiscal Year 2019				Fiscal Year 2018				Fiscal Year 2017
	Net Sales		Percentage of Total		Net Sales		Percentage of Total		Net Sales		Percentage of Total
Watches	$	1,802,481	81.3	%	$	2,033,021	80.0	%	$	2,199,031	78.9	%
Leathers	238,619		10.8		289,385		11.4		325,502		11.7
Jewelry	123,177		5.6		167,775		6.6		211,694		7.6
Other	53,435		2.3		51,307		2.0		51,936		1.8
Total	$	2,217,712	100.0	%	$	2,541,488	100.0	%	$	2,788,163	100.0	%

Geographic Information

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



	Fiscal Year 2019
	Net Sales ⁽¹⁾			Long-term Assets
United States	$	819,825		$	239,032
Europe	718,216		⁽²⁾	184,507
Asia	537,503			99,565
All other international	142,168			22,170
Consolidated	$	2,217,712		$	545,274



	Fiscal Year 2018
	Net Sales ⁽¹⁾			Long-term Assets
United States	$	1,017,919		$	159,062
Europe	857,972		⁽²⁾	111,964
Asia	507,523			36,945
All other international	158,074			8,658
Consolidated	$	2,541,488		$	316,629



	Fiscal Year 2017
	Net Sales ⁽¹⁾			Long-term Assets
United States	$	1,157,568		$	189,209
Europe	974,198		⁽²⁾	127,344
Asia	497,816			40,874
All other international	158,581			9,957
Consolidated	$	2,788,163		$	367,384

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⁽¹⁾	Net sales are based on the location of the selling entity (including exports).

⁽²⁾

Net sales from Germany (including exports) accounted for more than 10% of the Company's consolidated net sales and were approximately $310.1 million, $359.9 million and $406.2 million in fiscal years 2019, 2018 and 2017, respectively.