Segmented Information
Unaudited; Expressed in thousands
As reported in the Company's fiscal 2023 Annual Report on Form 10-K filed with the SEC on March 21, 2024, the Company changed its operating segments during the fourth quarter of fiscal 2023. The Company reports three segments: Americas, China Mainland, and Rest of World, which is Asia Pacific (“APAC”) and Europe and the Middle East (“EMEA”) on a combined basis. Previously, the Company's segments were based on selling channel. Please refer to Note 23. Segmented Information included in Item 8 in the Company's fiscal 2023 Annual Report on Form 10-K for further information.
The following table recasts the quarterly segment information for fiscal 2023 to reflect the current presentation:
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| | Fiscal 2023 |
| | Q1 | | Q2 | | Q3 | | Q4 | | Total |
| Net revenue: | | | | | | | | | | |
| Americas | | $ | 1,567,738 | | | $ | 1,719,773 | | | $ | 1,732,398 | | | $ | 2,611,738 | | | $ | 7,631,647 | |
| China Mainland | | 210,068 | | | 234,445 | | | 228,595 | | | 290,652 | | | 963,760 | |
| Rest of World | | 222,986 | | | 254,947 | | | 243,225 | | | 302,713 | | | 1,023,871 | |
| | $ | 2,000,792 | | | $ | 2,209,165 | | | $ | 2,204,218 | | | $ | 3,205,103 | | | $ | 9,619,278 | |
| Segmented income from operations: | | | | | | | | | | |
| Americas | | $ | 581,222 | | | $ | 660,570 | | | $ | 636,714 | | | $ | 1,058,678 | | | $ | 2,937,184 | |
| (Percentage of net revenue of respective operating segment) | | 37.1 | % | | 38.4 | % | | 36.8 | % | | 40.5 | % | | 38.5 | % |
| China Mainland | | 73,885 | | | 83,481 | | | 76,792 | | | 103,158 | | | 337,316 | |
| (Percentage of net revenue of respective operating segment) | | 35.2 | % | | 35.6 | % | | 33.6 | % | | 35.5 | % | | 35.0 | % |
| Rest of World | | 43,794 | | | 51,292 | | | 45,552 | | | 61,194 | | | 201,832 | |
| (Percentage of net revenue of respective operating segment) | | 19.6 | % | | 20.1 | % | | 18.7 | % | | 20.2 | % | | 19.7 | % |
| | $ | 698,901 | | | $ | 795,343 | | | $ | 759,058 | | | $ | 1,223,030 | | | $ | 3,476,332 | |
| General corporate expenses | | 295,609 | | | 314,207 | | | 321,480 | | | 309,140 | | | 1,240,436 | |
| lululemon Studio obsolescence provision | | — | | | — | | | 23,709 | | | — | | | 23,709 | |
| Impairment of assets and restructuring costs | | — | | | — | | | 74,501 | | | — | | | 74,501 | |
| Amortization of intangible assets | | 1,878 | | | 1,879 | | | 1,253 | | | — | | | 5,010 | |
| | | | | | | | | | |
| Income from operations | | $ | 401,414 | | | $ | 479,257 | | | $ | 338,115 | | | $ | 913,890 | | | $ | 2,132,676 | |
