MARINE PRODUCTS GROUP, LLC Segments Disclosure
Note 14: Business Segment
MPC has one reportable segment — its Powerboat Manufacturing business. The Chief Operating Decision Maker (CODM) makes resource allocation and performance assessment decisions based on this segment as a whole. MPC's CODM is the Chief Executive Officer.
Significant segment expenses for the years ended December 31, 2025, 2024 and 2023 are shown in the following table:
(in thousands) | 2025 | 2024 | 2023 | |||||||
Materials | $ | 128,705 | $ | 123,441 | $ | 203,847 | ||||
Overhead | 23,124 | 22,987 | 25,575 | |||||||
Labor costs | 26,660 | 25,887 | 33,907 | |||||||
Other cost of goods sold (1) | 19,155 | 18,742 | 30,021 | |||||||
Cost of goods sold | $ | 197,644 | $ | 191,057 | $ | 293,350 | ||||
Employment costs | $ | 18,016 | $ | 17,580 | $ | 28,439 | ||||
Warranty expense | 4,536 | 3,616 | 5,829 | |||||||
Other selling, general and administrative expenses (2) | 10,195 | 6,180 | 8,945 | |||||||
Selling, general and administrative expenses | $ | 32,747 | $ | 27,376 | $ | 43,213 | ||||
(1) | Comprised primarily of accessories costs. |
(2) Includes professional fees, transactions costs related to the Mergers, advertising and promotions, and other costs.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
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.