YETI Holdings Inc
For the period ended Dec 28, 2024. Filed Feb 24, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 24, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
15. Segment Information
- SEGMENT INFORMATION
Our Chief Operating Decision Maker (“CODM”), who is our Chief Executive Officer, reviews financial information, makes operating decisions, evaluates operating performance, and allocates resources based on consolidated net income. We manage our business as one reportable operating segment that constitutes consolidated results. Our operational structure, which includes sales, research, product design, operations, marketing, and administrative functions, is focused on the entire product suite rather than individual product categories, channels, and geographies.
The following table presents segment information for net sales, segment profit, and significant expenses (in thousands):
| Fiscal Year Ended | |||
|---|---|---|---|
| December 28,2024 | December 30,2023 | December 31,2022 | |
| Net sales | 1,829,873 | 1,658,713 | 1,595,222 |
| Cost of goods sold(1) | 766,589 | 715,527 | 831,821 |
| Gross profit | 1,063,284 | 943,186 | 763,401 |
| Selling, general, and administrative expenses | |||
| Distribution and fulfillment | 322,957 | 310,148 | 261,803 |
| Compensation and benefits(2) | 193,366 | 153,511 | 109,954 |
| Marketing | 141,490 | 126,894 | 110,981 |
| General and administration(3) | 129,099 | 108,710 | 93,316 |
| Depreciation and amortization | 29,155 | 29,847 | 29,076 |
| Product recall(4) | 1,841 | (11,382) | 31,910 |
| Total selling, general and administrative expenses | 817,908 | 717,728 | 637,040 |
| Operating income | 245,376 | 225,458 | 126,361 |
| Interest income (expense), net | 660 | (942) | (4,466) |
| Other (expense) income, net | (13,188) | 1,430 | (5,718) |
| Income before income taxes | 232,848 | 225,946 | 116,177 |
| Income tax expense | (57,159) | (56,061) | (26,484) |
| Net income | $175,689 | $169,885 | $89,693 |
(1)Includes depreciation expense of $19.0 million,, $16.6 million, and $10.8 million for the years ended December 28, 2024, December 30, 2023 and December 31, 2022.
(2)Represents employee compensation and benefits, including non-cash stock-based compensation expense.
(3)Includes information technology, corporate infrastructure costs, contract labor, professional fees and services, asset impairments, and organizational realignment costs.
(4)Represents adjustments and charges associated with product recalls. Refer to Note 12 for further information.
For net sales by geographic region, refer to Note 3. For long-lived asset by geographic region, refer to Note 5.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.