10-Q Filing

SKECHERS USA INC CIK: 1065837 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-222445`
Period End Date	20130331
Filing Date	20130515
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	skx-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 44 Cash Flow Statement 64 Comprehensive Income 10

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$16.92M	USD	Point-in-time
Trade accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$18.00M	USD	Point-in-time
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$351.14M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$325.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$391.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$264.66M	USD	Point-in-time
Trade accounts receivable,less allowances of $18,000 in 2013 and $16,922 in 2012	`AccountsReceivableNetCurrent`	$213.70M	USD	Point-in-time
Trade accounts receivable,less allowances of $18,000 in 2013 and $16,922 in 2012	`AccountsReceivableNetCurrent`	$283.44M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Other receivables	`OtherReceivables`	$7.49M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Other receivables	`OtherReceivables`	$7.12M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$221.19M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$290.56M	USD	Point-in-time
Inventories	`InventoryNet`	$253.66M	USD	Point-in-time
Inventories	`InventoryNet`	$339.01M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$26.65M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$27.75M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$26.53M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$26.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$862.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$940.31M	USD	Point-in-time
Property, plant and equipment, at cost, less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$361.40M	USD	Point-in-time
Property, plant and equipment, at cost, less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$362.45M	USD	Point-in-time
Goodwill and other intangible assets, less accumulated amortization	`OtherIntangibleAssetsNet`	$3.24M	USD	Point-in-time
Goodwill and other intangible assets, less accumulated amortization	`OtherIntangibleAssetsNet`	$3.02M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$15.26M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$16.39M	USD	Point-in-time
Other assets, at cost	`OtherAssetsNoncurrent`	$20.32M	USD	Point-in-time
Other assets, at cost	`OtherAssetsNoncurrent`	$17.83M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$399.91M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$399.99M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.34B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.26B	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$11.67M	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$11.75M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$3.04M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$2.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$241.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$162.02M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$36.92M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$30.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$207.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$292.54M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtAndCapitalLeaseObligations`	$128.52M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtAndCapitalLeaseObligations`	$125.55M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$72.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$73.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$125.62M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$128.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$421.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$332.89M	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 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $.001 par value; 10,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$336.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$336.86M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$542.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$548.72M	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$875.97M	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$883.09M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$40.38M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$39.97M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$43.12M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$46.06M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$919.09M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$929.16M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$1.26B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$1.34B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$351.27M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$451.62M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$258.89M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$195.58M	USD	1 Quarter
Gross profit	`GrossProfit`	$192.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$155.70M	USD	1 Quarter
Royalty income, net	`RoyaltyRevenue`	$1.77M	USD	1 Quarter
Royalty income, net	`RoyaltyRevenue`	$1.14M	USD	1 Quarter
Operating income	`OperatingIncome`	$194.50M	USD	1 Quarter
Operating income	`OperatingIncome`	$156.83M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$37.70M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$30.35M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$141.47M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$130.88M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$179.16M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$161.23M	USD	1 Quarter
Earnings (loss) from operations	`OperatingIncomeLoss`	$15.34M	USD	1 Quarter
Earnings (loss) from operations	`OperatingIncomeLoss`	$-4.39M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$245.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$71.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.97M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.62M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-2.92M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-140.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.47M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.86M	USD	1 Quarter
Earnings (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.25M	USD	1 Quarter
Earnings (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.87M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-3.85M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$2.28M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$-3.41M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$7.59M	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$256.00K	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$908.00K	USD	1 Quarter
Net earnings (loss) attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$6.68M	USD	1 Quarter
Net earnings (loss) attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$-3.67M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	49.27M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	50.30M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	50.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.27M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net earnings (loss)	`ProfitLoss`	$-3.41M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$7.59M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$10.41M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$9.75M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$300.00K	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`	$226.00K	USD	1 Quarter
Provision for (recovery of) bad debts and returns	`ProvisionForDoubtfulAccountsAndSalesReturns`	$-671.00K	USD	1 Quarter
Provision for (recovery of) bad debts and returns	`ProvisionForDoubtfulAccountsAndSalesReturns`	$1.86M	USD	1 Quarter
Tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$183.00K	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$3.48M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$579.00K	USD	1 Quarter
(Gain) on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	$1.00K	USD	1 Quarter
(Gain) on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Deferred income tax	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred income tax	`DeferredIncomeTaxExpenseBenefit`	$1.12M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$70.55M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$47.27M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-84.93M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-13.15M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-51.81M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.02M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-139.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-80.63M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$19.32M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.99M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-6.57M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-52.72M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$49.58M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.59M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.77M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.77M	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`	-	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.88M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.47M	USD	1 Quarter
Increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$603.00K	USD	1 Quarter
Increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$4.12M	USD	1 Quarter
Contributions from non-controlling interest of consolidated entity	`ProceedsFromMinorityShareholders`	-	USD	1 Quarter
Contributions from non-controlling interest of consolidated entity	`ProceedsFromMinorityShareholders`	$3.15M	USD	1 Quarter
Distributions to non-controlling interest of consolidated entity	`PaymentsToMinorityShareholders`	-	USD	1 Quarter
Distributions to non-controlling interest of consolidated entity	`PaymentsToMinorityShareholders`	$1.18M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.66M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-300.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-60.79M	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`	$-376.00K	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`	$351.14M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$325.83M	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`	$264.66M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$351.14M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$325.83M	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`	$264.66M	USD	Point-in-time
Interest	`InterestPaid`	$2.47M	USD	1 Quarter
Interest	`InterestPaid`	$1.42M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$1.59M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$-54.14M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings (loss)	`ProfitLoss`	$-3.41M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$7.59M	USD	1 Quarter
(Loss) gain on foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-75.00K	USD	1 Quarter
(Loss) gain on foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.70M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.51M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.29M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$968.00K	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$409.00K	USD	1 Quarter
Comprehensive income attributable to Skechers U.S.A., Inc.	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$6.54M	USD	1 Quarter
Comprehensive income attributable to Skechers U.S.A., Inc.	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$877.00K	USD	1 Quarter

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