JOHNSON OUTDOORS INCJOUT
JOHNSON OUTDOORS INC Segments Disclosure
SEGMENTS OF BUSINESS
The Company conducts its worldwide operations through separate business segments, each of which represent major product lines. Operations are conducted in the U.S. and various foreign countries, primarily in Europe, Canada and the Pacific Basin. During the years ended October 3, 2025, September 27, 2024, and September 29, 2023, combined sales to one customer of the Company's Fishing, Camping and Watercraft Recreation segments represented approximately $119,540, $113,509, and $101,392 respectively, of the Company's consolidated revenues.
The Company has historically reported "Camping" and "Watercraft Recreation" segments separately. Starting in the first fiscal quarter of 2025, the Company combined these two segments into one segment, "Camping & Watercraft Recreation," consistent with the manner in which its chief operating decision maker ("CODM") assesses performance and makes resource allocations. The operating segment change was for financial reporting purposes only and did not impact or result in changes to operations of the business segments, nor did it impact the Company's consolidated financial statements, but it did impact our previous segment footnote disclosure and the table below, including the corresponding items of segment information disclosed in the prior year.
The Company sold the Military and Commercial Tent product lines of its Camping & Watercraft Recreation business segment to a third party in an asset sale for a purchase price of $14,990 during the second quarter of fiscal 2023, resulting in a gain on sale, net of final working capital true-up, of approximately $6,560, which was recorded in Other (income) expense, net in the Company’s accompanying Consolidated Statements of Operations. The sale did not include the Eureka! brand name or the Eureka! consumer/recreational Camping business line.
During fiscal 2024 and 2025, the Company also exited the Eureka! brand of the Camping & Watercraft Recreation segment, which included liquidating all remaining consumer inventory of Eureka! branded products and winding down operations. Discontinuing the Eureka! branded product line allows the Company to focus solely on the Jetboil product line, which we believe has a strong position in the outdoor cooking market. The Company incurred expenses of approximately $4,800 in fiscal 2023 related to the wind down of the Eureka! branded business, which included accruing exit costs and increasing inventory reserves, as well as incurring a contribution expense for a $2,000 donation of Eureka! inventory to a nonprofit organization. The related costs in fiscal 2025 and 2024 were insignificant. These costs are recorded in Costs of Sales and Operating Expenses in the Consolidated Statements of Operations.
The Company’s Chief Executive Officer, who has been identified as the CODM, primarily uses operating profit as the measure of profit or loss to assess segment performance and allocate resources. Operating profit represents net sales less cost of goods sold and operating expenses. Net Sales are directly attributed to each segment. Segment operating expenses include operating expenses directly attributable to the segment, as well as certain shared corporate administration and other costs which are allocated to the segments in a reasonable manner considering the specific facts and circumstances of the expenses being allocated. The CODM evaluates segment profitability based on operating profit (loss) because it provides key insights to operational leverage and other key operational metrics for each segment. Additionally, segment operating profit (loss) is used in the annual budgeting and forecasting process, and budget-to-actual and forecast-to-actual variances are considered when determining how resources should be allocated to each segment.
Net sales and operating profit include both sales to customers, as reported in the Company’s accompanying Consolidated Statements of Operations, and inter-unit transfers, which are priced to recover costs plus an appropriate profit margin. Total assets represent assets that are used in the Company’s operations in each business segment at the end of the years presented. The accounting policies of the Company’s reportable segments are the same as those described in Note 1. Summary of Significant Accounting Policies.
A summary of the Company’s operations by business segment is presented below:
| Twelve Months Ended October 3, 2025 | Fishing | Camping & Watercraft Recreation | Diving | Other/Corporate | Total | ||||||||||||||||||||||||
| Unaffiliated customers | $ | 458,099 | $ | 57,990 | $ | 75,436 | $ | 890 | $ | 592,415 | |||||||||||||||||||
| Interunit transfers | 1,063 | 81 | 22 | (1,166) | — | ||||||||||||||||||||||||
| Net Sales | 459,162 | 58,071 | 75,458 | (276) | 592,415 | ||||||||||||||||||||||||
| Cost of goods sold | 319,740 | 32,888 | 32,236 | (542) | 384,322 | ||||||||||||||||||||||||
| Gross profit | 139,422 | 25,183 | 43,222 | 266 | 208,093 | ||||||||||||||||||||||||
| Marketing and selling expense | 85,917 | 17,129 | 20,620 | 10,789 | 134,455 | ||||||||||||||||||||||||
| Administrative management, finance and information systems expense | 10,133 | 4,492 | 15,961 | 27,041 | 57,627 | ||||||||||||||||||||||||
| Goodwill impairment | — | — | — | — | — | ||||||||||||||||||||||||
| Research and development expense | 23,802 | 2,644 | 4,974 | 782 | 32,202 | ||||||||||||||||||||||||
| Operating profit (loss) | $ | 19,570 | $ | 918 | $ | 1,667 | $ | (38,346) | $ | (16,191) | |||||||||||||||||||
| Depreciation and amortization expense | $ | 14,797 | $ | 1,697 | $ | 1,045 | $ | 3,088 | $ | 20,627 | |||||||||||||||||||
| Capital expenditures | $ | 13,152 | $ | 514 | $ | 1,325 | $ | 984 | $ | 15,975 | |||||||||||||||||||
| Goodwill, net | $ | — | $ | — | $ | 10,456 | $ | — | $ | 10,456 | |||||||||||||||||||
| Total assets (end of period) | $ | 279,007 | $ | 70,944 | $ | 92,718 | $ | 161,434 | $ | 604,103 | |||||||||||||||||||
| Twelve Months Ended September 27, 2024 | Fishing | Camping & Watercraft Recreation | Diving | Other/Corporate | Total | ||||||||||||||||||||||||
| Unaffiliated customers | $ | 451,842 | $ | 66,529 | $ | 73,610 | $ | 865 | $ | 592,846 | |||||||||||||||||||
| Interunit transfers | 499 | 106 | 18 | (623) | — | ||||||||||||||||||||||||
| Net Sales | 452,341 | 66,635 | 73,628 | 242 | 592,846 | ||||||||||||||||||||||||
| Cost of goods sold | 316,370 | 40,664 | 34,900 | (68) | 391,866 | ||||||||||||||||||||||||
| Gross profit | 135,971 | 25,971 | 38,728 | 310 | 200,980 | ||||||||||||||||||||||||
| Marketing and selling expense | 96,959 | 18,427 | 20,535 | 8,643 | 144,564 | ||||||||||||||||||||||||
| Administrative management, finance and information systems expense | 10,249 | 5,140 | 15,395 | 26,859 | 57,643 | ||||||||||||||||||||||||
| Goodwill impairment | 11,173 | — | — | — | 11,173 | ||||||||||||||||||||||||
| Research and development expense | 24,188 | 2,892 | 4,042 | — | 31,122 | ||||||||||||||||||||||||
| Operating profit (loss) | $ | (6,598) | $ | (488) | $ | (1,244) | $ | (35,192) | $ | (43,522) | |||||||||||||||||||
| Depreciation and amortization expense | $ | 13,871 | $ | 1,626 | $ | 763 | $ | 3,348 | $ | 19,608 | |||||||||||||||||||
| Capital expenditures | $ | 17,248 | $ | 1,229 | $ | 990 | $ | 2,551 | $ | 22,018 | |||||||||||||||||||
| Goodwill, net | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
| Total assets (end of period) | $ | 325,882 | $ | 69,516 | $ | 77,465 | $ | 162,349 | $ | 635,212 | |||||||||||||||||||
| Twelve Months Ended September 29, 2023 | Fishing | Camping & Watercraft Recreation | Diving | Other/Corporate | Total | ||||||||||||||||||||||||
| Unaffiliated customers | $ | 491,890 | $ | 85,848 | $ | 85,031 | $ | 1,075 | $ | 663,844 | |||||||||||||||||||
| Interunit transfers | 1,037 | 239 | 38 | (1,314) | — | ||||||||||||||||||||||||
| Net Sales | 492,927 | 86,087 | 85,069 | (239) | 663,844 | ||||||||||||||||||||||||
| Cost of goods sold | 328,190 | 52,807 | 39,406 | (646) | 419,757 | ||||||||||||||||||||||||
| Gross profit | 164,737 | 33,280 | 45,663 | 407 | 244,087 | ||||||||||||||||||||||||
| Marketing and selling expense | 89,592 | 23,554 | 22,269 | 9,031 | 144,446 | ||||||||||||||||||||||||
| Administrative management, finance and information systems expense | 9,671 | 7,562 | 13,531 | 25,733 | 56,497 | ||||||||||||||||||||||||
| Goodwill impairment | — | — | — | — | — | ||||||||||||||||||||||||
| Research and development expense | 24,149 | 3,484 | 3,771 | — | 31,404 | ||||||||||||||||||||||||
| Operating profit (loss) | $ | 41,325 | $ | (1,320) | $ | 6,092 | $ | (34,357) | $ | 11,740 | |||||||||||||||||||
| Depreciation and amortization expense | $ | 11,653 | $ | 1,157 | $ | 711 | $ | 2,774 | $ | 16,295 | |||||||||||||||||||
| Capital expenditures | $ | 17,427 | $ | 2,553 | $ | 828 | $ | 1,860 | $ | 22,668 | |||||||||||||||||||
| Goodwill, net | $ | 11,172 | $ | — | $ | — | $ | — | $ | 11,172 | |||||||||||||||||||
| Total assets (end of period) | $ | 363,463 | $ | 79,956 | $ | 83,555 | $ | 154,632 | $ | 681,606 | |||||||||||||||||||
The Company attributes revenue to individual countries based on the customer's location, not the shipping point or manufacturing site. A summary of the Company’s operations by geographic area is presented below:
| 2025 | 2024 | 2023 | |||||||||||||||
| Net sales: | |||||||||||||||||
| United States: | |||||||||||||||||
| Unaffiliated customers | $ | 516,567 | $ | 513,978 | $ | 569,383 | |||||||||||
| Interunit transfers | 22,333 | 20,958 | 33,873 | ||||||||||||||
| Europe: | |||||||||||||||||
| Unaffiliated customers | 34,952 | 34,406 | 39,155 | ||||||||||||||
| Interunit transfers | 9,231 | 8,456 | 9,866 | ||||||||||||||
| Canada: | |||||||||||||||||
| Unaffiliated customers | 28,448 | 31,502 | 39,465 | ||||||||||||||
| Interunit transfers | — | 93 | — | ||||||||||||||
| Other: | |||||||||||||||||
| Unaffiliated customers | 12,449 | 12,959 | 15,841 | ||||||||||||||
| Interunit transfers | 3,712 | 57 | 18 | ||||||||||||||
| Eliminations | (35,277) | (29,563) | (43,757) | ||||||||||||||
| $ | 592,415 | $ | 592,846 | $ | 663,844 | ||||||||||||
| Total assets: | |||||||||||||||||
| United States | $ | 478,102 | $ | 520,834 | |||||||||||||
| Europe | 54,810 | 52,486 | |||||||||||||||
Canada | 39,151 | 38,431 | |||||||||||||||
Other | 32,040 | 23,461 | |||||||||||||||
| $ | 604,103 | $ | 635,212 | ||||||||||||||
Long-term assets (1): | |||||||||||||||||
| United States | $ | 176,136 | $ | 174,106 | |||||||||||||
| Europe | 5,855 | 6,468 | |||||||||||||||
Canada | 1,134 | 1,162 | |||||||||||||||
Other | 9,116 | 1,327 | |||||||||||||||
| $ | 192,241 | $ | 183,063 | ||||||||||||||
(1)Long term assets consist of net property, plant and equipment, right of use assets, net intangible assets, goodwill and other assets excluding deferred income taxes.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 12, 2025 | Showing above |
| 2024 | Dec 11, 2024 | |
| 2023 | Dec 8, 2023 | |
| 2022 | Dec 9, 2022 | |
| 2021 | Dec 10, 2021 | |
| 2020 | Dec 11, 2020 | |
| 2019 | Dec 6, 2019 | |
| 2018 | Dec 7, 2018 | |
| 2017 | Dec 8, 2017 | |
| 2016 | Dec 13, 2016 | |
| 2015 | Dec 8, 2015 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.