10-Q Filing

SKECHERS USA INC CIK: 1065837 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-047516`
Period End Date	20110331
Filing Date	20110509
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	skx-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 50 Cash Flow Statement 63

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$265.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$233.56M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$197.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$325.88M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$320.18M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$266.06M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$9.65M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$10.43M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$275.71M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$330.60M	USD	Point-in-time
Inventories, net	`InventoryNet`	$398.59M	USD	Point-in-time
Inventories, net	`InventoryNet`	$376.19M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$53.79M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$48.65M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$11.72M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$11.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$973.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$965.06M	USD	Point-in-time
Property and equipment, at cost, less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$329.70M	USD	Point-in-time
Property and equipment, at cost, less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$293.80M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsGross`	$7.37M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsGross`	$6.98M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$12.32M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$12.32M	USD	Point-in-time
Other assets, at cost	`OtherAssetsNoncurrent`	$18.00M	USD	Point-in-time
Other assets, at cost	`OtherAssetsNoncurrent`	$17.94M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.33B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.30B	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$5.13M	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$11.98M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$18.35M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$34.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$250.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$246.59M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$24.43M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$30.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$307.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$314.18M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtAndCapitalLeaseObligations`	$50.40M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtAndCapitalLeaseObligations`	$51.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$358.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$364.57M	USD	Point-in-time
Preferred Stock, $.001 par value; 100,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $.001 par value; 100,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$308.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$303.88M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.26M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$611.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$600.01M	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$929.13M	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$908.20M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$37.63M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$38.36M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$945.83M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$967.49M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$1.30B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$1.33B	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$476.23M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$492.76M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$283.62M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$255.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$237.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$192.61M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$385.00K	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$1.65M	USD	1 Quarter
Operating income	`OperatingIncome`	$237.80M	USD	1 Quarter
Operating income	`OperatingIncome`	$194.26M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$34.31M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$37.56M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$141.98M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$122.49M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$179.54M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$156.80M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$14.71M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$81.01M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.43M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$587.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$715.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.97M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$349.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$209.00K	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$-1.03M	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$922.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$81.93M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.69M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.53M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$25.81M	USD	1 Quarter
Net earnings	`ProfitLoss`	$56.12M	USD	1 Quarter
Net earnings	`ProfitLoss`	$12.15M	USD	1 Quarter
Less: Net earnings (loss) attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-173.00K	USD	1 Quarter
Less: Net earnings (loss) attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$345.00K	USD	1 Quarter
Net earnings attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$56.30M	USD	1 Quarter
Net earnings attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$11.81M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.20	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.15	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	46.78M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	48.24M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.74M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.28M	shares	1 Quarter
Net earnings	`NetIncomeLoss`	$56.30M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$11.81M	USD	1 Quarter
Gain (loss) on foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$4.27M	USD	1 Quarter
Gain (loss) on foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-4.27M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$52.03M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.08M	USD	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$56.30M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$11.81M	USD	1 Quarter
Non-controlling interest in subsidiaries	`NetIncomeLossAttributableToNoncontrollingInterest`	$-173.00K	USD	1 Quarter
Non-controlling interest in subsidiaries	`NetIncomeLossAttributableToNoncontrollingInterest`	$345.00K	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$5.32M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$7.36M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$370.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$371.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$395.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$393.00K	USD	1 Quarter
Provision for bad debts and returns	`ProvisionForDoubtfulAccountsAndSalesReturns`	$4.23M	USD	1 Quarter
Provision for bad debts and returns	`ProvisionForDoubtfulAccountsAndSalesReturns`	$2.59M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$3.31M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$3.71M	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	$-90.00K	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	$-132.00K	USD	1 Quarter
Provision benefit for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-7.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$55.12M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$70.52M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-34.53M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-22.57M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.18M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.21M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.69M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$97.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-12.24M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-5.91M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$9.21M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.04M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.35M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.38M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.65M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$30.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$23.35M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.38M	USD	1 Quarter
Net proceeds from the issuances of stock through employee stock purchase plan and the exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$840.00K	USD	1 Quarter
Net proceeds from the issuances of stock through employee stock purchase plan and the exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$8.29M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$133.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$8.07M	USD	1 Quarter
Increase (decrease) in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-684.00K	USD	1 Quarter
Increase (decrease) in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$16.03M	USD	1 Quarter
Contribution from non-controlling interest of consolidated entity	`ProceedsFromMinorityShareholders`	$115.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$5.70M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$299.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.17M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.21M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-36.22M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$60.87M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-669.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$555.00K	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$265.68M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$233.56M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$197.90M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$325.88M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$265.68M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$233.56M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$197.90M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$325.88M	USD	Point-in-time
Interest	`InterestPaid`	$1.12M	USD	1 Quarter
Interest	`InterestPaid`	$1.45M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$2.61M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$13.54M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.