| Schedule of Segment Reporting Information, by Operating Segment |
Summarized financial information for the Company’s reportable segments is shown in the following tables, including significant segment expenses that are regularly reviewed by the CODM.
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Year Ended |
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2024 |
|
Direct selling |
|
Hiya direct-to-consumer |
|
Other |
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Total |
Net Sales (1)
|
$ |
845,789 |
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|
$ |
1,970 |
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|
$ |
6,744 |
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|
$ |
854,503 |
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| Less: |
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| Cost of sales |
157,094 |
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|
598 |
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|
3,520 |
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|
161,212 |
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| Associate incentives |
363,183 |
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— |
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|
516 |
|
|
363,699 |
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| Selling, general and administrative |
254,733 |
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|
1,226 |
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|
7,309 |
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|
263,268 |
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| Segment earnings (loss) from operations |
$ |
70,779 |
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|
$ |
146 |
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$ |
(4,601) |
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$ |
66,324 |
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| Reconciliation of segment earnings from operations |
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| Interest income |
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11,319 |
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| Interest expense |
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(281) |
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| Other, net |
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(1,011) |
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| Earnings before income taxes |
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$ |
76,351 |
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______________________________
(1)The direct selling segment excludes $2,087 of intersegment net sales.
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Year Ended |
|
2023 |
|
Direct selling |
|
Other |
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Total |
Net Sales (1)
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$ |
915,212 |
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|
$ |
5,798 |
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|
$ |
921,010 |
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| Less: |
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| Cost of sales |
173,432 |
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|
3,261 |
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|
176,693 |
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| Associate incentives |
393,932 |
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|
325 |
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|
394,257 |
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| Selling, general and administrative |
251,495 |
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|
5,494 |
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|
256,989 |
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| Segment earnings (loss) from operations |
$ |
96,353 |
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|
$ |
(3,282) |
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$ |
93,071 |
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| Reconciliation of segment earnings from operations |
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| Interest income |
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9,637 |
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| Interest expense |
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(262) |
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| Other, net |
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|
7 |
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| Earnings before income taxes |
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$ |
102,453 |
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______________________________
(1)The direct selling segment excludes $1,425 of intersegment net sales.
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Year Ended |
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2022 |
|
Direct selling |
|
Other |
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Total |
Net Sales (1)
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$ |
995,042 |
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|
$ |
3,559 |
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$ |
998,601 |
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| Less: |
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| Cost of sales |
191,994 |
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|
1,896 |
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|
193,890 |
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| Associate incentives |
434,514 |
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|
279 |
|
|
434,793 |
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| Selling, general and administrative |
259,036 |
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|
3,268 |
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|
262,304 |
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| Segment earnings (loss) from operations |
$ |
109,498 |
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|
$ |
(1,884) |
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$ |
107,614 |
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| Reconciliation of segment earnings from operations |
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| Interest income |
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3,789 |
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| Interest expense |
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(192) |
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| Other, net |
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(2,590) |
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| Earnings before income taxes |
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$ |
108,621 |
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______________________________
(1)There was no intersegment net sales.
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Year Ended |
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2024 |
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2023 |
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2022 |
| Depreciation and amortization: |
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| Direct selling |
$ |
12,851 |
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$ |
11,855 |
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$ |
12,966 |
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| Hiya direct-to-consumer |
294 |
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|
— |
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— |
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| Other |
1,394 |
|
|
847 |
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|
427 |
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| Consolidated Total |
$ |
14,539 |
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$ |
12,702 |
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$ |
13,393 |
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| Schedule of Revenue by Geographic Region |
Financial information on net sales and long-lived assets (excluding intangible assets), presented by geographic region is listed below:
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Year Ended |
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2024 |
|
2023 |
|
2022 |
| Net Sales to External Customers |
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| Asia Pacific |
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| Greater China |
$ |
457,976 |
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$ |
475,099 |
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$ |
502,486 |
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| Southeast Asia Pacific |
146,795 |
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|
163,890 |
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|
190,478 |
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| North Asia |
78,214 |
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|
101,446 |
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|
108,952 |
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| Asia Pacific Total |
682,985 |
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|
740,435 |
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|
801,916 |
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| Americas and Europe |
171,518 |
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|
180,575 |
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|
196,685 |
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| Consolidated Total |
$ |
854,503 |
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|
$ |
921,010 |
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$ |
998,601 |
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|
December 28,
2024 |
|
December 30,
2023 |
| Long-lived Assets |
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| Asia Pacific |
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| Greater China |
$ |
31,668 |
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$ |
34,892 |
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| Southeast Asia Pacific |
13,893 |
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|
17,504 |
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| North Asia |
8,820 |
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|
2,235 |
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| Asia Pacific Total |
54,381 |
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|
54,631 |
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| Americas and Europe |
83,460 |
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|
85,213 |
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| Consolidated Total |
$ |
137,841 |
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$ |
139,844 |
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| Total Assets |
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| Asia Pacific |
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| Greater China |
$ |
202,428 |
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$ |
219,781 |
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| Southeast Asia Pacific |
44,793 |
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|
57,820 |
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| North Asia |
25,930 |
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|
21,807 |
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| Asia Pacific Total |
273,151 |
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|
299,408 |
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| Americas and Europe |
475,042 |
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|
333,349 |
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| Consolidated Total |
$ |
748,193 |
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$ |
632,757 |
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| Schedule of Markets Representing Ten Percent Or More of Consolidated Net Sales and Long-Lived Assets |
The following table provides further information on markets representing ten percent or more of consolidated net sales and long-lived assets (excluding intangible assets), respectively:
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Year Ended |
|
2024 |
|
2023 |
|
2022 |
| Net sales: |
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| China |
$ |
413,471 |
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$ |
427,265 |
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$ |
453,134 |
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| United States |
$ |
91,796 |
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$ |
95,906 |
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$ |
106,087 |
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| South Korea |
$ |
76,445 |
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$ |
99,108 |
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$ |
106,391 |
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| Long-lived Assets: |
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| United States |
$ |
81,459 |
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$ |
81,914 |
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| China |
$ |
29,304 |
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$ |
33,241 |
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