10-Q Filing

SKECHERS USA INC CIK: 1065837 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-191957`
Period End Date	20140331
Filing Date	20140509
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	skx-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 44 Cash Flow Statement 62 Comprehensive Income 10

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$20.51M	USD	Point-in-time
Trade accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.93M	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`	$325.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$372.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$264.66M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$329.45M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Trade accounts receivable, less allowances of $20,513 in 2014 and $15,926 in 2013	`AccountsReceivableNetCurrent`	$225.94M	USD	Point-in-time
Trade accounts receivable, less allowances of $20,513 in 2014 and $15,926 in 2013	`AccountsReceivableNetCurrent`	$312.32M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$10.60M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$9.56M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$236.54M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$321.88M	USD	Point-in-time
Inventories	`FIFOInventoryAmount`	$358.17M	USD	Point-in-time
Inventories	`FIFOInventoryAmount`	$312.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$26.09M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$27.45M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$22.11M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$22.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.01B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.01B	USD	Point-in-time
Property, plant and equipment, at cost, less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$361.75M	USD	Point-in-time
Property, plant and equipment, at cost, less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$362.57M	USD	Point-in-time
Goodwill and other intangible assets, less accumulated amortization	`IntangibleAssetsNetIncludingGoodwill`	$2.38M	USD	Point-in-time
Goodwill and other intangible assets, less accumulated amortization	`IntangibleAssetsNetIncludingGoodwill`	$2.14M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.49M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$9.95M	USD	Point-in-time
Other assets, at cost	`OtherAssetsNoncurrent`	$19.52M	USD	Point-in-time
Other assets, at cost	`OtherAssetsNoncurrent`	$19.56M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$385.73M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$393.64M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.41B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.40B	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$12.03M	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$12.12M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$87.00K	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$87.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$258.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$215.43M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$42.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$40.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$269.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$310.42M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtAndCapitalLeaseObligations`	$113.42M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtAndCapitalLeaseObligations`	$116.49M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.74M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.39M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$118.23M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$115.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$385.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$428.65M	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`	$343.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$342.14M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$627.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$596.83M	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$930.32M	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$963.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$50.28M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$43.12M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$46.06M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$49.60M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.01B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$979.92M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$1.40B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$1.41B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$451.62M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$546.52M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$258.89M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$306.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$192.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$240.40M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$3.02M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$1.77M	USD	1 Quarter
Operating income	`OtherOperatingIncome`	$243.43M	USD	1 Quarter
Operating income	`OtherOperatingIncome`	$194.50M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$36.74M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$37.70M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$158.52M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$141.47M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$179.16M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$195.26M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$48.16M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$15.34M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$71.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$103.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.62M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.08M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-2.92M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-3.67M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.47M	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.48M	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.87M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.44M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.28M	USD	1 Quarter
Net earnings	`ProfitLoss`	$7.59M	USD	1 Quarter
Net earnings	`ProfitLoss`	$33.05M	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.08M	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$908.00K	USD	1 Quarter
Net earnings attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$30.96M	USD	1 Quarter
Net earnings attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$6.68M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.61	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.61	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	50.30M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	50.56M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	50.84M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	50.49M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$7.59M	USD	1 Quarter
Net earnings	`ProfitLoss`	$33.05M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$11.29M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$10.41M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$300.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$300.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$226.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$234.00K	USD	1 Quarter
Provision for bad debts and returns	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$1.86M	USD	1 Quarter
Provision for bad debts and returns	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$5.10M	USD	1 Quarter
Tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-8.00K	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$579.00K	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$1.32M	USD	1 Quarter
Loss (gain) on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	$1.00K	USD	1 Quarter
Loss (gain) on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	$-128.00K	USD	1 Quarter
Deferred income tax	`DeferredIncomeTaxExpenseBenefit`	$1.12M	USD	1 Quarter
Deferred income tax	`DeferredIncomeTaxExpenseBenefit`	$8.46M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$89.38M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$70.55M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-84.93M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-45.52M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.38M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.02M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$273.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-43.17M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-80.63M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.23M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-6.57M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-52.72M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-26.58M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.77M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.37M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.37M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.77M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.88M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.97M	USD	1 Quarter
Proceeds (payments) on short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$603.00K	USD	1 Quarter
Proceeds (payments) on short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-1.00K	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`	$1.32M	USD	1 Quarter
Distributions to non-controlling interest of consolidated entity	`PaymentsToMinorityShareholders`	$1.18M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.30M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-300.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-60.79M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-42.25M	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`	$-316.00K	USD	1 Quarter
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`	$372.01M	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 beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$329.45M	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`	$372.01M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$264.66M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$329.45M	USD	Point-in-time
Interest	`InterestPaid`	$2.49M	USD	1 Quarter
Interest	`InterestPaid`	$2.47M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$2.42M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$1.59M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$7.59M	USD	1 Quarter
Net earnings	`ProfitLoss`	$33.05M	USD	1 Quarter
(Loss) gain on foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$302.00K	USD	1 Quarter
(Loss) gain on foreign currency translation adjustment, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-75.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$7.51M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$33.35M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$2.00M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$968.00K	USD	1 Quarter
Comprehensive income attributable to Skechers U.S.A., Inc.	`ComprehensiveIncomeNetOfTax`	$31.35M	USD	1 Quarter
Comprehensive income attributable to Skechers U.S.A., Inc.	`ComprehensiveIncomeNetOfTax`	$6.54M	USD	1 Quarter

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