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10-Q Filing

INTERPARFUMS INC CIK: 822663 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001144204-13-027052
Period End Date 20130331
Filing Date 20130508
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance ipar-20130331.xml
Balance Sheet 79 line items
Line Item Tag Value Unit Period
Preferred stock, par PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, par PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $307.33M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $27.41M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued - shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $35.86M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $146.21M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued - shares Point-in-time
Common stock, par CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Short-term investments ShortTermInvestments $166.89M USD Point-in-time
Short-term investments ShortTermInvestments - USD Point-in-time
Common stock, par CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $149.34M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 100.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 100.00M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $190.22M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 30.70M shares Point-in-time
Inventories InventoryNet $142.61M USD Point-in-time
Inventories InventoryNet $110.83M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 30.68M shares Point-in-time
Receivables, other OtherReceivablesNetCurrent $2.00M USD Point-in-time
Treasury shares, shares TreasuryStockShares 9.98M shares Point-in-time
Treasury shares, shares TreasuryStockShares 9.98M shares Point-in-time
Receivables, other OtherReceivablesNetCurrent $2.53M USD Point-in-time
Other current assets OtherAssetsCurrent $5.90M USD Point-in-time
Other current assets OtherAssetsCurrent $4.74M USD Point-in-time
Income taxes receivable IncomeTaxReceivable $1.97M USD Point-in-time
Income taxes receivable IncomeTaxReceivable $204.00K USD Point-in-time
Deferred tax assets DeferredTaxAssetsLiabilitiesNetCurrent $6.69M USD Point-in-time
Deferred tax assets DeferredTaxAssetsLiabilitiesNetCurrent $13.13M USD Point-in-time
Total current assets AssetsCurrent $627.77M USD Point-in-time
Total current assets AssetsCurrent $622.82M USD Point-in-time
Equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $11.60M USD Point-in-time
Equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $12.29M USD Point-in-time
Trademarks, licenses and other intangible assets, net IntangibleAssetsNetExcludingGoodwill $113.04M USD Point-in-time
Trademarks, licenses and other intangible assets, net IntangibleAssetsNetExcludingGoodwill $108.58M USD Point-in-time
Goodwill Goodwill $931.00K USD Point-in-time
Goodwill Goodwill $954.00K USD Point-in-time
Other assets OtherAssetsNoncurrent $10.82M USD Point-in-time
Other assets OtherAssetsNoncurrent $10.71M USD Point-in-time
Total assets Assets $759.92M USD Point-in-time
Total assets Assets $759.60M USD Point-in-time
Loans payable - banks LoansPayableToBankCurrent $27.78M USD Point-in-time
Loans payable - banks LoansPayableToBankCurrent $26.69M USD Point-in-time
Accounts payable - trade AccountsPayableCurrent $60.54M USD Point-in-time
Accounts payable - trade AccountsPayableCurrent $73.11M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $49.15M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $68.77M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $90.55M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $84.03M USD Point-in-time
Dividends payable DividendsPayableCurrent $3.68M USD Point-in-time
Dividends payable DividendsPayableCurrent $2.45M USD Point-in-time
Total current liabilities LiabilitiesCurrent $230.61M USD Point-in-time
Total current liabilities LiabilitiesCurrent $256.14M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesNoncurrent $3.80M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesNoncurrent $3.68M USD Point-in-time
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued PreferredStockValue - USD Point-in-time
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued PreferredStockValue - USD Point-in-time
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 30,702,159 and 30,680,834 shares at March 31, 2013 and December 31, 2012, respectively CommonStockValue $31.00K USD Point-in-time
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 30,702,159 and 30,680,834 shares at March 31, 2013 and December 31, 2012, respectively CommonStockValue $31.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $54.68M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $55.06M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $377.72M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $349.67M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $2.12M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $12.50M USD Point-in-time
Treasury stock, at cost, 9,976,524 common shares at March 31, 2013 and December 31, 2012 TreasuryStockValue $35.40M USD Point-in-time
Treasury stock, at cost, 9,976,524 common shares at March 31, 2013 and December 31, 2012 TreasuryStockValue $35.40M USD Point-in-time
Total Inter Parfums, Inc. shareholders? equity StockholdersEquity $381.48M USD Point-in-time
Total Inter Parfums, Inc. shareholders? equity StockholdersEquity $399.53M USD Point-in-time
Noncontrolling interest MinorityInterest $125.78M USD Point-in-time
Noncontrolling interest MinorityInterest $118.50M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $499.98M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $525.31M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $352.36M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $759.60M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $759.92M USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $213.81M USD 1 Quarter
Net sales SalesRevenueNet $165.37M USD 1 Quarter
Cost of sales CostOfGoodsSold $58.69M USD 1 Quarter
Cost of sales CostOfGoodsSold $79.17M USD 1 Quarter
Gross margin GrossProfit $134.64M USD 1 Quarter
Gross margin GrossProfit $106.68M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $67.67M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $74.92M USD 1 Quarter
Income from operations OperatingIncomeLoss $66.98M USD 1 Quarter
Income from operations OperatingIncomeLoss $31.75M USD 1 Quarter
Interest expense InterestExpense $362.00K USD 1 Quarter
Interest expense InterestExpense $457.00K USD 1 Quarter
Loss on foreign currency ForeignCurrencyTransactionGainLossBeforeTax $-248.00K USD 1 Quarter
Loss on foreign currency ForeignCurrencyTransactionGainLossBeforeTax $-1.44M USD 1 Quarter
Interest and dividend income InvestmentIncomeInterest $1.19M USD 1 Quarter
Interest and dividend income InvestmentIncomeInterest $524.00K USD 1 Quarter
Nonoperating expense (income) NonoperatingIncomeExpense $-86.00K USD 1 Quarter
Nonoperating expense (income) NonoperatingIncomeExpense $-711.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $31.67M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $66.27M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $23.32M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $11.41M USD 1 Quarter
Net income ProfitLoss $42.94M USD 1 Quarter
Net income ProfitLoss $20.25M USD 1 Quarter
Less: Net income attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $4.76M USD 1 Quarter
Less: Net income attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $11.25M USD 1 Quarter
Net income attributable to Inter Parfums, Inc. NetIncomeLoss $15.50M USD 1 Quarter
Net income attributable to Inter Parfums, Inc. NetIncomeLoss $31.70M USD 1 Quarter
Basic EarningsPerShareBasic $0.51 USD 1 Quarter
Basic EarningsPerShareBasic $1.03 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.51 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.03 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 30,687.00 shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 30,551.00 shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 30,686.00 shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 30,847.00 shares 1 Quarter
Dividends declared per share CommonStockDividendsPerShareDeclared $0.08 USD 1 Quarter
Dividends declared per share CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $42.94M USD 1 Quarter
Net income ProfitLoss $20.25M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $3.69M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $3.66M USD 1 Quarter
Provision For Reduction Of Doubtful Accounts ProvisionForReductionOfDoubtfulAccounts $-75.00K USD 1 Quarter
Provision For Reduction Of Doubtful Accounts ProvisionForReductionOfDoubtfulAccounts $-29.00K USD 1 Quarter
Noncash stock compensation ShareBasedCompensation $220.00K USD 1 Quarter
Noncash stock compensation ShareBasedCompensation $212.00K USD 1 Quarter
Deferred tax provision DeferredIncomeTaxExpenseBenefit $31.00K USD 1 Quarter
Deferred tax provision DeferredIncomeTaxExpenseBenefit $6.26M USD 1 Quarter
Change in fair value of derivatives UnrealizedGainLossOnDerivatives $30.00K USD 1 Quarter
Change in fair value of derivatives UnrealizedGainLossOnDerivatives - USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $46.28M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-16.01M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $15.15M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-29.26M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-1.33M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $370.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-29.22M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-28.88M USD 1 Quarter
Income taxes, net IncreaseDecreaseInAccruedTaxesPayable $10.98M USD 1 Quarter
Income taxes, net IncreaseDecreaseInAccruedTaxesPayable $3.41M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $19.52M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-1.08M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $172.12M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments - USD 1 Quarter
Purchases of equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $3.95M USD 1 Quarter
Purchases of equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $1.43M USD 1 Quarter
Payment for intangible assets acquired PaymentsToAcquireIntangibleAssets $518.00K USD 1 Quarter
Payment for intangible assets acquired PaymentsToAcquireIntangibleAssets $2.34M USD 1 Quarter
Net cash provided used in investing activities NetCashProvidedByUsedInInvestingActivities $-6.29M USD 1 Quarter
Net cash provided used in investing activities NetCashProvidedByUsedInInvestingActivities $-174.06M USD 1 Quarter
Proceeds from (repayments of) loans payable - banks, net ProceedsFromRepaymentsOfDebt $-278.00K USD 1 Quarter
Proceeds from (repayments of) loans payable - banks, net ProceedsFromRepaymentsOfDebt $1.44M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $1.42M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Proceeds from exercise of options ProceedsFromStockOptionsExercised $256.00K USD 1 Quarter
Proceeds from exercise of options ProceedsFromStockOptionsExercised $247.00K USD 1 Quarter
Proceeds from sale of stock of subsidiary ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Proceeds from sale of stock of subsidiary ProceedsFromIssuanceOfCommonStock $145.00K USD 1 Quarter
Dividends paid PaymentsOfDividends $2.45M USD 1 Quarter
Dividends paid PaymentsOfDividends $2.44M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.48M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.03M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $959.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-4.12M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-161.13M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-8.45M USD 1 Quarter
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $307.33M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $27.41M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $35.86M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $146.21M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $307.33M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $27.41M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $35.86M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $146.21M USD Point-in-time
Interest InterestPaid $369.00K USD 1 Quarter
Interest InterestPaid $446.00K USD 1 Quarter
Income taxes IncomeTaxesPaid $8.06M USD 1 Quarter
Income taxes IncomeTaxesPaid $8.27M USD 1 Quarter
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $499.98M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $525.31M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $352.36M USD Point-in-time
Net income ProfitLoss $42.94M USD 1 Quarter
Net income ProfitLoss $20.25M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-14.37M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $9.52M USD 1 Quarter
Net derivative instrument gain, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $9.00K USD 1 Quarter
Net derivative instrument gain, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $102.00K USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $499.98M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $525.31M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $352.36M USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $42.94M USD 1 Quarter
Net income ProfitLoss $20.25M USD 1 Quarter
Net derivative instrument gain, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $9.00K USD 1 Quarter
Net derivative instrument gain, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $102.00K USD 1 Quarter
Translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-14.37M USD 1 Quarter
Translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $9.52M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $28.58M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $29.87M USD 1 Quarter
Net income NetIncomeLossAttributableToNoncontrollingInterest $4.76M USD 1 Quarter
Net income NetIncomeLossAttributableToNoncontrollingInterest $11.25M USD 1 Quarter
Net derivative instrument gain, net of tax OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest $5.00K USD 1 Quarter
Net derivative instrument gain, net of tax OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest $25.00K USD 1 Quarter
Translation adjustments, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $2.40M USD 1 Quarter
Translation adjustments, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-3.99M USD 1 Quarter
Comprehensive income attributable to the noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $7.18M USD 1 Quarter
Comprehensive income attributable to the noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $7.26M USD 1 Quarter
Comprehensive income attributable to Inter Parfums, Inc. ComprehensiveIncomeNetOfTax $22.69M USD 1 Quarter
Comprehensive income attributable to Inter Parfums, Inc. ComprehensiveIncomeNetOfTax $21.32M USD 1 Quarter

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

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