10-Q Filing

G III APPAREL GROUP LTD /DE/ CIK: 821002 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-263282`
Period End Date	20120430
Filing Date	20120607
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	giii-20120430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 115 Income Statement 34 Cash Flow Statement 56

Balance Sheet 115 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$23.97M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$34.44M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.48M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.04M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.34M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts and sales discounts of $31,480, $23,972 and $34,436, respectively	`AccountsReceivableNetCurrent`	$176.53M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts and sales discounts of $31,480, $23,972 and $34,436, respectively	`AccountsReceivableNetCurrent`	$128.22M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts and sales discounts of $31,480, $23,972 and $34,436, respectively	`AccountsReceivableNetCurrent`	$162.51M	USD	Point-in-time
Inventories	`InventoryNet`	$208.75M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$167.75M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$253.52M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$584.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$2.81M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetCurrent`	$10.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.46M	shares	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetCurrent`	$9.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.28M	shares	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetCurrent`	$9.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.19M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.04M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	367,225.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	492,225.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	492,225.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.42M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$338.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$451.18M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$464.78M	USD	Point-in-time
INVESTMENT IN JOINT VENTURE	`EquityMethodInvestments`	$2.38M	USD	Point-in-time
INVESTMENT IN JOINT VENTURE	`EquityMethodInvestments`	$2.42M	USD	Point-in-time
INVESTMENT IN JOINT VENTURE	`EquityMethodInvestments`	$1.19M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$33.41M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$33.37M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$24.32M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxAssetsNetNoncurrent`	$1.80M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxAssetsNetNoncurrent`	-	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxAssetsNetNoncurrent`	-	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$1.83M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$1.78M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$2.15M	USD	Point-in-time
INTANGIBLES, NET	`IntangibleAssetsNetExcludingGoodwill`	$17.42M	USD	Point-in-time
INTANGIBLES, NET	`IntangibleAssetsNetExcludingGoodwill`	$18.24M	USD	Point-in-time
INTANGIBLES, NET	`IntangibleAssetsNetExcludingGoodwill`	$17.61M	USD	Point-in-time
GOODWILL	`Goodwill`	$26.10M	USD	Point-in-time
GOODWILL	`Goodwill`	$26.10M	USD	Point-in-time
GOODWILL	`Goodwill`	$26.10M	USD	Point-in-time
Total assets	`Assets`	$532.27M	USD	Point-in-time
Total assets	`Assets`	$546.10M	USD	Point-in-time
Total assets	`Assets`	$412.36M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$83.07M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$30.05M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$35.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$6.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$96.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$55.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$49.22M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.43M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$43.53M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$20.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$98.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$159.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$176.52M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$1.29M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$1.29M	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$10.32M	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$10.81M	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$7.62M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$188.13M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$171.80M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$106.27M	USD	Point-in-time
Preferred stock; 1,000,000 shares authorized; No shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; 1,000,000 shares authorized; No shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; 1,000,000 shares authorized; No shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $.01 par value; 80,000,000, 40,000,000 and 80,000,000 shares authorized; 20,461,840, 20,188,889 and 20,279,132 shares issued	`CommonStockValue`	$202.00K	USD	Point-in-time
Common stock - $.01 par value; 80,000,000, 40,000,000 and 80,000,000 shares authorized; 20,461,840, 20,188,889 and 20,279,132 shares issued	`CommonStockValue`	$203.00K	USD	Point-in-time
Common stock - $.01 par value; 80,000,000, 40,000,000 and 80,000,000 shares authorized; 20,461,840, 20,188,889 and 20,279,132 shares issued	`CommonStockValue`	$205.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$155.48M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$163.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$160.10M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-41.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$201.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$151.42M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$200.72M	USD	Point-in-time
Common stock held in treasury, at cost - 492,225, 367,225 and 492,225 shares	`TreasuryStockValue`	$3.90M	USD	Point-in-time
Common stock held in treasury, at cost - 492,225, 367,225 and 492,225 shares	`TreasuryStockValue`	$3.90M	USD	Point-in-time
Common stock held in treasury, at cost - 492,225, 367,225 and 492,225 shares	`TreasuryStockValue`	$970.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$357.97M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$360.47M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$306.09M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$546.10M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$412.36M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$532.27M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$229.45M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$196.87M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$137.42M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$160.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$59.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$68.69M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$57.92M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$66.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.05M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$6.00K	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$23.00K	USD	1 Quarter
Equity loss in joint venture	`MinorityInterestInNetIncomeLossJointVenturePartners`	$99.00K	USD	1 Quarter
Equity loss in joint venture	`MinorityInterestInNetIncomeLossJointVenturePartners`	$286.00K	USD	1 Quarter
Interest and financing charges, net	`FinancingInterestExpense`	$1.10M	USD	1 Quarter
Interest and financing charges, net	`FinancingInterestExpense`	$759.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-852.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.37M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-520.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-332.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-520.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-847.00K	USD	1 Quarter
Net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	19.72M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	19.86M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-520.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-847.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease`	$-2.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease`	$22.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$22.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$-2.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-845.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-542.00K	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-520.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-847.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.05M	USD	1 Quarter
Equity based compensation	`ShareBasedCompensation`	$923.00K	USD	1 Quarter
Equity based compensation	`ShareBasedCompensation`	$1.51M	USD	1 Quarter
Tax benefit from exercise/vesting of equity awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-730.00K	USD	1 Quarter
Tax benefit from exercise/vesting of equity awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-290.00K	USD	1 Quarter
Deferred financing charges	`AmortizationOfFinancingCosts`	$59.00K	USD	1 Quarter
Deferred financing charges	`AmortizationOfFinancingCosts`	$162.00K	USD	1 Quarter
Equity loss in joint venture	`IncomeLossFromEquityMethodInvestments`	$-286.00K	USD	1 Quarter
Equity loss in joint venture	`IncomeLossFromEquityMethodInvestments`	$-99.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-10.12M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$14.02M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-44.77M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-37.24M	USD	1 Quarter
Income taxes, net	`IncreaseDecreaseInIncomeTaxes`	$-2.85M	USD	1 Quarter
Income taxes, net	`IncreaseDecreaseInIncomeTaxes`	$-6.80M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.89M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.75M	USD	1 Quarter
Other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-25.00K	USD	1 Quarter
Other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$8.00K	USD	1 Quarter
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-73.12M	USD	1 Quarter
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-63.14M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-29.85M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-38.30M	USD	1 Quarter
Investment in equity of joint venture	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$250.00K	USD	1 Quarter
Investment in equity of joint venture	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$1.35M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.05M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.91M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.16M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.40M	USD	1 Quarter
Proceeds from notes payable, net	`ProceedsFromNotesPayable`	$35.00M	USD	1 Quarter
Proceeds from notes payable, net	`ProceedsFromNotesPayable`	$53.02M	USD	1 Quarter
Proceeds from exercise of equity awards	`ProceedsFromStockOptionsExercised`	$494.00K	USD	1 Quarter
Proceeds from exercise of equity awards	`ProceedsFromStockOptionsExercised`	$158.00K	USD	1 Quarter
Excess tax benefit from exercise/vesting of equity awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.43M	USD	1 Quarter
Excess tax benefit from exercise/vesting of equity awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$946.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.93M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$54.13M	USD	1 Quarter
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.00K	USD	1 Quarter
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-22.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.66M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.68M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.04M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.66M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.04M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.66M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.34M	USD	Point-in-time
Interest	`InterestPaid`	$562.00K	USD	1 Quarter
Interest	`InterestPaid`	$989.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$4.42M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$785.00K	USD	1 Quarter

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