10-Q Filing

SKECHERS USA INC CIK: 1065837 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-224748`
Period End Date	20120331
Filing Date	20120510
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	skx-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 44 Cash Flow Statement 64 Comprehensive Income 6

Balance Sheet 76 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
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$197.90M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$391.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$233.56M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$351.14M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$176.02M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$228.92M	USD	Point-in-time
Other receivables	`OtherReceivables`	$6.64M	USD	Point-in-time
Other receivables	`OtherReceivables`	$4.87M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$182.65M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$233.79M	USD	Point-in-time
Inventories	`InventoryNet`	$214.58M	USD	Point-in-time
Inventories	`InventoryNet`	$226.41M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$36.53M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$88.00M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$39.14M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$39.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$887.35M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$915.65M	USD	Point-in-time
Property, plant and equipment, at cost, less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$376.45M	USD	Point-in-time
Property, plant and equipment, at cost, less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$379.22M	USD	Point-in-time
Goodwill and other intangible assets, less accumulated amortization	`IntangibleAssetsGross`	$3.92M	USD	Point-in-time
Goodwill and other intangible assets, less accumulated amortization	`IntangibleAssetsGross`	$4.15M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$530.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$530.00K	USD	Point-in-time
Other assets, at cost	`OtherAssetsNoncurrent`	$13.41M	USD	Point-in-time
Other assets, at cost	`OtherAssetsNoncurrent`	$13.19M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$394.54M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$396.86M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.28B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.31B	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$10.14M	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$10.06M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$50.41M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$54.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$252.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$231.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$16.99M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$20.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$337.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$308.47M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtAndCapitalLeaseObligations`	$73.94M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtAndCapitalLeaseObligations`	$76.53M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$4.36M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$4.37M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$78.31M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$80.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$389.36M	USD	Point-in-time
Total liabilities	`Liabilities`	$415.39M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, $.001 par value; 10,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $.001 par value; 10,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$320.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$324.19M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-894.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$532.53M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$528.86M	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$852.56M	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$856.75M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$40.38M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$37.63M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$38.36M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$39.97M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$897.12M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$892.53M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$1.28B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$1.31B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$476.23M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$351.27M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$195.58M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$283.62M	USD	1 Quarter
Gross profit	`GrossProfit`	$192.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$155.70M	USD	1 Quarter
Royalty income, net	`RoyaltyRevenue`	$1.14M	USD	1 Quarter
Royalty income, net	`RoyaltyRevenue`	$1.65M	USD	1 Quarter
Operating income	`OperatingIncome`	$194.26M	USD	1 Quarter
Operating income	`OperatingIncome`	$156.83M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$30.35M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$37.56M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$130.88M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$141.43M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$178.99M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$161.23M	USD	1 Quarter
Earnings (loss) from operations	`OperatingIncomeLoss`	$15.27M	USD	1 Quarter
Earnings (loss) from operations	`OperatingIncomeLoss`	$-4.39M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$245.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$587.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.97M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.97M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-140.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-207.00K	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$-2.86M	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$-1.58M	USD	1 Quarter
Earnings (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.69M	USD	1 Quarter
Earnings (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.25M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-3.85M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.53M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$-3.41M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$12.15M	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$345.00K	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$256.00K	USD	1 Quarter
Net earnings (loss) attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$-3.67M	USD	1 Quarter
Net earnings (loss) attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$11.81M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	49.27M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	48.24M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.27M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.28M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net earnings (loss)	`NetIncomeLoss`	$-3.67M	USD	1 Quarter
Net earnings (loss)	`NetIncomeLoss`	$11.81M	USD	1 Quarter
Non-controlling interest in subsidiaries	`NetIncomeLossAttributableToNoncontrollingInterest`	$345.00K	USD	1 Quarter
Non-controlling interest in subsidiaries	`NetIncomeLossAttributableToNoncontrollingInterest`	$256.00K	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$7.36M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$9.75M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$371.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$238.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$226.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$395.00K	USD	1 Quarter
Provision for (recovery of) bad debts and returns	`ProvisionForDoubtfulAccountsAndSalesReturns`	$4.23M	USD	1 Quarter
Provision for (recovery of) bad debts and returns	`ProvisionForDoubtfulAccountsAndSalesReturns`	$-671.00K	USD	1 Quarter
Tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$183.00K	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$3.48M	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`	-	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$47.27M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$55.12M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-22.57M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-13.15M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.21M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-51.81M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$97.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-139.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$19.32M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.00M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-5.91M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.99M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.04M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$49.58M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.38M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.38M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.59M	USD	1 Quarter
Net proceeds from the issuances of stock through employee stock purchase plan and the exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$7.00K	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
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$8.07M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.47M	USD	1 Quarter
Increase (decrease) in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$4.12M	USD	1 Quarter
Increase (decrease) in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$16.03M	USD	1 Quarter
Contribution from non-controlling interest of consolidated entity	`ProceedsFromMinorityShareholders`	-	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`	-	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$299.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.21M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.66M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-36.22M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$39.65M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$555.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$827.00K	USD	1 Quarter
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`	$391.62M	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`	$351.14M	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`	$391.62M	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`	$351.14M	USD	Point-in-time
Interest	`InterestPaid`	$1.45M	USD	1 Quarter
Interest	`InterestPaid`	$1.42M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$-54.14M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$2.61M	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net earnings (loss)	`NetIncomeLoss`	$-3.67M	USD	1 Quarter
Net earnings (loss)	`NetIncomeLoss`	$11.81M	USD	1 Quarter
Gain on foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$4.27M	USD	1 Quarter
Gain on foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$4.54M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.08M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$877.00K	USD	1 Quarter

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