Segment and Geographic Information
|6 Months Ended|
Jun. 30, 2021
|Segment Reporting [Abstract]|
|Segment and Geographic Information||
The Company has three reportable segments – Domestic Wholesale, International Wholesale and Direct-to-Consumer. Management evaluates segment performance based primarily on sales and gross margin. All other costs and expenses of the Company are analyzed on an aggregate basis and not allocated to the segments. The following summarizes the Company’s operations by segment and geographic area:
The Company’s sales to its five largest customers accounted for approximately 9.0% and 8.6% of total sales for the three months ended June 30, 2021 and 2020, and for the six months ended June 30, 2021 and 2020 were 8.3% and 9.2%.
The following summarizes the Company’s assets by segment and geographic area:
Assets located outside the U.S. consist primarily of cash, accounts receivable, inventory, property, plant and equipment, and other assets. Net assets held outside the U.S. were $3.6 billion and $3.1 billion at June 30, 2021 and December 31, 2020.
The Company performs regular evaluations concerning the ability of customers to satisfy their obligations and provides for estimated doubtful accounts. Domestic accounts receivable generally do not require collateral. Foreign accounts receivable are generally collateralized by letters of credit. The Company’s additions to the provision for expected credit losses for the three months ended June 30, 2021 and 2020 were $0.3 million and $11.1 million and for the six months ended June 30, 2021 and 2020 were $0.3 million and $16.7 million.
The Company’s accounts receivables, excluding the allowance for bad debts, allowances and chargebacks, in different geographic areas are summarized as follows:
The Company’s top five manufacturers produced, as a percentage of total production, the following:
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef