Annual report pursuant to Section 13 and 15(d)

OPERATING BUSINESS SEGMENT AND INTERNATIONAL OPERATION INFORMATION (Tables)

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OPERATING BUSINESS SEGMENT AND INTERNATIONAL OPERATION INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of reportable business segment information
Reportable business segment information for the years ended December 31, 2023 and 2022 is as follows (dollar amounts in thousands):
Year Ended December 31, 2023 2022
Net sales:    
Asia $ 201,251  $ 186,292 
Europe 81,101  78,991 
North America 139,804  133,214 
Latin America and Other 23,164  23,413 
Total net sales 445,320  421,910 
Contribution margin (1):    
Asia 96,365  85,876 
Europe 25,456  25,911 
North America 54,877  47,615 
Latin America and Other 9,109  9,981 
Total contribution margin 185,807  169,383 
Selling, general and administrative (2) 167,058  153,125 
Operating income 18,749  16,258 
Other income (loss), net 1,453  (1,043)
Income before provision for income taxes $ 20,202  $ 15,215 
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(1) Contribution margin consists of net sales less cost of sales and volume incentives expense.

(2) Service fees in China totaled $16.6 million and $14.9 million for the years ended December 31, 2023 and 2022, respectively. These service fees are included in our selling, general and administrative expenses.

Year Ended December 31, 2023 2022
Capital expenditures:    
Asia $ 1,882  $ 1,830 
Europe 138  57 
North America 8,431  5,573 
Latin America and Other 27  168 
Total capital expenditures $ 10,478  $ 7,628 
Depreciation and amortization:    
Asia $ 1,812  $ 1,856 
Europe 54  123 
North America 9,890  8,863 
Latin America and Other 60  183 
Total depreciation and amortization $ 11,816  $ 11,025 
As of December 31, 2023 2022
Assets:    
Asia $ 105,636  $ 95,362 
Europe 20,920  15,773 
North America 116,052  112,319 
Latin America and Other 7,165  6,324 
Total assets $ 249,773  $ 229,778 
Schedule of consolidated net sales revenue by geographical locations
From an individual country/region perspective, only the United States, South Korea and Taiwan comprise 10 percent or more of consolidated net sales for the years ended December 31, 2023 and 2022 as follows (dollar amounts in thousands):
Year Ended December 31, 2023 2022
Net sales:    
United States $ 129,305  $ 122,863 
Taiwan 61,691  48,474 
South Korea 49,845  54,935 
Other 204,479  195,638 
Total net sales $ 445,320  $ 421,910 
Schedule of revenue generated by each of the Company's product lines
Revenue generated by each of our product lines is set forth below (dollars in thousands):
Year Ended December 31, 2023 2022
Asia:    
General health $ 69,037  $ 53,603 
Immunity 5,420  3,283 
Cardiovascular 57,771  55,312 
Digestive 36,434  37,457 
Personal care 5,586  9,205 
Weight management 27,003  27,432 
  201,251  186,292 
Europe:    
General health $ 34,709  $ 34,438 
Immunity 8,222  8,489 
Cardiovascular 9,143  9,380 
Digestive 22,111  20,024 
Personal care 4,977  4,854 
Weight management 1,939  1,806 
  81,101  78,991 
North America:    
General health $ 63,742  $ 64,488 
Immunity 16,124  14,966 
Cardiovascular 14,959  14,383 
Digestive 34,628  28,490 
Personal care 6,476  6,212 
Weight management 3,875  4,675 
  139,804  133,214 
Latin America and Other:    
General health $ 6,286  $ 6,728 
Immunity 2,703  2,901 
Cardiovascular 1,718  1,662 
Digestive 10,693  10,040 
Personal care 1,262  1,399 
Weight management 502  683 
  23,164  23,413 
Total net sales $ 445,320  $ 421,910 
Schedule of consolidated property, plant and equipment by geographical locations
From an individual country perspective, only the United States comprise 10 percent or more of consolidated property, plant and equipment as follows (dollar amounts in thousands):
As of December 31  2023 2022
Property, plant and equipment, net    
United States $ 41,239  $ 42,389 
Other 3,761  3,773 
Total property, plant and equipment $ 45,000  $ 46,162