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BUSINESS SEGMENTS (Tables) | 12 Months Ended
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Dec. 31, 2015
Segment Reporting Information | The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. While the three segments distribute similar products, the segments have been distinct due to the different methods the Company uses to sell, market and distribute the products. Management evaluates the performance of the U.S. Wholesale, International and Retail Direct segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Wholesale |  | $ | 458,593 |  |  | $ | 441,293 |  |  | $ | 444,187 |
International |  |  | 108,000 |  |  |  | 125,230 |  |  |  | 38,907 |
Retail Direct |  |  | 21,077 |  |  |  | 19,487 |  |  |  | 20,680 |
Non-operating adjustment(1) |  |  | — |  |  |  | — |  |  |  | (1,053 | )
Total net sales |  | $ | 587,670 |  |  | $ | 586,010 |  |  | $ | 502,721 |
Income from operations: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Wholesale(2) |  | $ | 41,343 |  |  | $ | 34,874 |  |  | $ | 46,303 |
International (3) |  |  | (1,600 | ) |  |  | 3,759 |  |  |  | (2,151 | )
Retail Direct |  |  | (596 | ) |  |  | (1,034 | ) |  |  | (62 | )
Non-operating adjustment(1) |  |  | — |  |  |  | — |  |  |  | (1,053 | )
Unallocated corporate expenses |  |  | (14,916 | ) |  |  | (16,215 | ) |  |  | (14,851 | )
Total income from operations |  | $ | 24,231 |  |  | $ | 21,384 |  |  | $ | 28,186 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Wholesale |  | $ | 8,784 |  |  | $ | 8,618 |  |  | $ | 8,549 |
International |  |  | 5,272 |  |  |  | 5,379 |  |  |  | 1,601 |
Retail Direct |  |  | 147 |  |  |  | 203 |  |  |  | 265 |
Total depreciation and amortization |  | $ | 14,203 |  |  | $ | 14,200 |  |  | $ | 10,415 |
Note:
(1) | In 2013, the Company recorded a non-operating adjustment to reduce accounts receivable for previously issued credits within the Retail Direct business which related to 2010 and earlier periods.
(2) | In 2014, income from operations for the U.S. Wholesale segment included a $3.4 million of intangible asset impairment charge and $4.2 million related to the reduction in certain contingent consideration accruals.
(3) | In 2015, income from operations for the International segment includes a $1.0 million net charge related to the change in certain contingent consideration accruals.
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Wholesale |  | $ | 269,764 |  |  | $ | 287,744 |  |  | $ | 291,757 |
International |  |  | 115,128 |  |  |  | 128,055 |  |  |  | 35,365 |
Retail Direct |  |  | 443 |  |  |  | 535 |  |  |  | 730 |
Unallocated/ corporate/ other |  |  | 13,617 |  |  |  | 5,068 |  |  |  | 8,887 |
Total assets |  | $ | 398,952 |  |  | $ | 421,402 |  |  | $ | 336,739 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Wholesale |  | $ | 4,087 |  |  | $ | 5,431 |  |  | $ | 3,375 |
International |  |  | 1,004 |  |  |  | 650 |  |  |  | 272 |
Retail Direct |  |  | 75 |  |  |  | 90 |  |  |  | 195 |
Total capital expenditures |  | $ | 5,166 |  |  | $ | 6,171 |  |  | $ | 3,842 |
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Goodwill: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Wholesale |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 2,412 |  |  | $ | 2,412 |  |  | $ | 2,412 |
Acquisition activity |  |  | — |  |  |  | — |  |  |  | — |
Ending balance |  |  | 2,412 |  |  |  | 2,412 |  |  |  | 2,412 |
International |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  |  | 15,689 |  |  |  | 2,673 |  |  |  | 2,673 |
Acquisition activity |  |  | — |  |  |  | 13,016 |  |  |  | — |
Ending balance |  |  | 15,689 |  |  |  | 15,689 |  |  |  | 2,673 |
Total goodwill (1) |  | $ | 18,101 |  |  | $ | 18,101 |  |  | $ | 5,085 |
Note:
(1) | No goodwill is allocated to the Company’s Retail Direct reportable segment.
Net Sales and Long-Lived Assets by Major Geographic Locations | The following table sets forth net sales and long-lived assets by the major geographic locations:
|  | Year ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 462,234 |  |  | $ | 436,049 |  |  | $ | 439,129 |
United Kingdom |  |  | 81,347 |  |  |  | 93,432 |  |  |  | 29,012 |
Rest of World |  |  | 44,089 |  |  |  | 56,529 |  |  |  | 34,580 |
Total |  | $ | 587,670 |  |  | $ | 586,010 |  |  | $ | 502,721 |
|  | December 31, |
|  | 2015 |  |  | 2014 |
|  | (in thousands) |
Long-lived assets, excluding intangible assets, at period-end: |  |  |  |  |  |  |  |
United States |  | $ | 49,990 |  |  | $ | 54,594 |
United Kingdom |  |  | 1,550 |  |  |  | 3,927 |
Rest of World |  |  | 953 |  |  |  | 1,167 |
Total |  | $ | 52,493 |  |  | $ | 59,688 |
Net Sales by Major Product Categories | The following table sets forth net sales by major product categories included within the Company’s U.S. Wholesale operating segment:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Category: |  |  |  |  |  |  |  |  |  |  |  |
Kitchenware |  | $ | 271,045 |  |  | $ | 269,265 |  |  | $ | 281,211 |
Tableware |  |  | 124,353 |  |  |  | 117,546 |  |  |  | 110,108 |
Home Solutions |  |  | 63,195 |  |  |  | 54,482 |  |  |  | 52,868 |
Total |  | $ | 458,593 |  |  | $ | 441,293 |  |  | $ | 444,187 |
The following table sets forth net sales by major product categories included within the Company’s International operating segment:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Category: |  |  |  |  |  |  |  |  |  |  |  |
Kitchenware |  | $ | 61,291 |  |  | $ | 67,604 |  |  | $ | — |
Tableware |  |  | 46,709 |  |  |  | 57,626 |  |  |  | 38,907 |
Total |  | $ | 108,000 |  |  | $ | 125,230 |  |  | $ | 38,907 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: 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=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8736-108599 + Details
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