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10-Q Filing

INTERPARFUMS INC CIK: 822663 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001213900-21-025384
Period End Date 20210331
Filing Date 20210510
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance f10q0321_interparfums_htm.xml
Balance Sheet 81 line items
Line Item Tag Value Unit Period
Preferred stock, par value (in Dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, par value (in Dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred stock, authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $143.31M USD Point-in-time
Preferred stock, issued PreferredStockSharesIssued - shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $133.42M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $169.68M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $83.56M USD Point-in-time
Preferred stock, issued PreferredStockSharesIssued - shares Point-in-time
Short-term investments ShortTermInvestments $126.63M USD Point-in-time
Common stock, par value (in Dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value (in Dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Short-term investments ShortTermInvestments $150.54M USD Point-in-time
Common stock, authorized CommonStockSharesAuthorized 100.00M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $124.06M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $149.94M USD Point-in-time
Common stock, authorized CommonStockSharesAuthorized 100.00M shares Point-in-time
Inventories InventoryNet $148.69M USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 31.65M shares Point-in-time
Inventories InventoryNet $158.82M USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 31.61M shares Point-in-time
Receivables, other OtherReceivablesNetCurrent $1.65M USD Point-in-time
Treasury stock TreasuryStockShares 9.86M shares Point-in-time
Receivables, other OtherReceivablesNetCurrent $1.81M USD Point-in-time
Treasury stock TreasuryStockShares 9.86M shares Point-in-time
Other current assets OtherAssetsCurrent $18.58M USD Point-in-time
Other current assets OtherAssetsCurrent $16.91M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $2.81M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $404.00K USD Point-in-time
Total current assets AssetsCurrent $600.72M USD Point-in-time
Total current assets AssetsCurrent $613.12M USD Point-in-time
Equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $18.86M USD Point-in-time
Equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $19.58M USD Point-in-time
Right-of-use assets, net OperatingLeaseRightOfUseAsset $22.81M USD Point-in-time
Right-of-use assets, net OperatingLeaseRightOfUseAsset $24.73M USD Point-in-time
Trademarks, licenses and other intangible assets, net IntangibleAssetsNetExcludingGoodwill $202.25M USD Point-in-time
Trademarks, licenses and other intangible assets, net IntangibleAssetsNetExcludingGoodwill $214.11M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $7.67M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $8.04M USD Point-in-time
Other assets OtherAssetsNoncurrent $22.96M USD Point-in-time
Other assets OtherAssetsNoncurrent $23.01M USD Point-in-time
Total assets Assets $887.72M USD Point-in-time
Total assets Assets $890.14M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $1.07M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $14.57M USD Point-in-time
Current portion of lease liabilities OperatingLeaseLiabilityCurrent $4.98M USD Point-in-time
Current portion of lease liabilities OperatingLeaseLiabilityCurrent $5.13M USD Point-in-time
Accounts payable trade AccountsPayableCurrent $44.68M USD Point-in-time
Accounts payable trade AccountsPayableCurrent $35.58M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $88.60M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $95.63M USD Point-in-time
Income taxes payable DividendsPayableCurrent $5.30M USD Point-in-time
Income taxes payable DividendsPayableCurrent $12.77M USD Point-in-time
Total current liabilities LiabilitiesCurrent $156.21M USD Point-in-time
Total current liabilities LiabilitiesCurrent $152.11M USD Point-in-time
Longterm debt, less current portion LongTermDebtNoncurrent $10.14M USD Point-in-time
Longterm debt, less current portion LongTermDebtNoncurrent $9.17M USD Point-in-time
Lease liabilities, less current portion OperatingLeaseLiabilityNoncurrent $19.77M USD Point-in-time
Lease liabilities, less current portion OperatingLeaseLiabilityNoncurrent $21.35M 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 31,652,038 and 31,608,588 shares at March 31, 2021 and December 31, 2020, respectively CommonStockValue $32.00K USD Point-in-time
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 31,652,038 and 31,608,588 shares at March 31, 2021 and December 31, 2020, respectively CommonStockValue $32.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $77.57M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $75.71M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $523.60M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $503.57M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-23.61M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-6.00M USD Point-in-time
Treasury stock, at cost, 9,864,805 shares at March 31, 2021 and December 31, 2020 TreasuryStockValue $37.48M USD Point-in-time
Treasury stock, at cost, 9,864,805 shares at March 31, 2021 and December 31, 2020 TreasuryStockValue $37.48M USD Point-in-time
Total Inter Parfums, Inc. shareholders equity StockholdersEquity $540.11M USD Point-in-time
Total Inter Parfums, Inc. shareholders equity StockholdersEquity $535.84M USD Point-in-time
Noncontrolling interest MinorityInterest $166.62M USD Point-in-time
Noncontrolling interest MinorityInterest $166.55M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $602.29M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $702.45M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $706.66M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $890.14M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $887.72M USD Point-in-time
Income Statement 41 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $198.53M USD 1 Quarter
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $144.82M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $73.28M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $55.78M USD 1 Quarter
Gross margin GrossProfit $125.25M USD 1 Quarter
Gross margin GrossProfit $89.04M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $71.26M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $74.90M USD 1 Quarter
Impairment loss ImpairmentOfLeasehold $2.39M USD 1 Quarter
Income from operations OperatingIncomeLoss $17.78M USD 1 Quarter
Income from operations OperatingIncomeLoss $47.96M USD 1 Quarter
Interest expense InterestExpense $377.00K USD 1 Quarter
Interest expense InterestExpense $1.00M USD 1 Quarter
Gain on foreign currency ForeignCurrencyTransactionGainLossBeforeTax $1.87M USD 1 Quarter
Gain on foreign currency ForeignCurrencyTransactionGainLossBeforeTax $954.00K USD 1 Quarter
Interest income InvestmentIncomeInterestAndDividend $1.01M USD 1 Quarter
Interest income InvestmentIncomeInterestAndDividend $386.00K USD 1 Quarter
Other income OtherIncome - USD 1 Quarter
Other income OtherIncome $192.00K USD 1 Quarter
Other expenses (income) NonoperatingIncomeExpense $960.00K USD 1 Quarter
Other expenses (income) NonoperatingIncomeExpense $2.07M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $18.74M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $50.03M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $5.44M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $13.40M USD 1 Quarter
Net income ProfitLoss $13.30M USD 1 Quarter
Net income ProfitLoss $36.63M USD 1 Quarter
Less: Net income attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $3.24M USD 1 Quarter
Less: Net income attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $8.96M USD 1 Quarter
Net income attributable to Inter Parfums, Inc. NetIncomeLoss $27.66M USD 1 Quarter
Net income attributable to Inter Parfums, Inc. NetIncomeLoss $10.06M USD 1 Quarter
Basic (in Dollars per share) EarningsPerShareBasic $0.32 USD 1 Quarter
Basic (in Dollars per share) EarningsPerShareBasic $0.87 USD 1 Quarter
Diluted (in Dollars per share) EarningsPerShareDiluted $0.87 USD 1 Quarter
Diluted (in Dollars per share) EarningsPerShareDiluted $0.32 USD 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 31.53M shares 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 31.63M shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 31.71M shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 31.77M shares 1 Quarter
Dividends declared per share (in Dollars per share) CommonStockDividendsPerShareDeclared $0.25 USD 1 Quarter
Dividends declared per share (in Dollars per share) CommonStockDividendsPerShareDeclared $0.33 USD 1 Quarter
Cash Flow Statement 63 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $13.30M USD 1 Quarter
Net income ProfitLoss $36.63M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $2.23M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $2.53M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $1.35M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $444.00K USD 1 Quarter
Noncash stock compensation ShareBasedCompensation $732.00K USD 1 Quarter
Noncash stock compensation ShareBasedCompensation $124.00K USD 1 Quarter
Share of income of equity investment IncomeLossFromEquityMethodInvestments $192.00K USD 1 Quarter
Share of income of equity investment IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Impairment loss AssetImpairmentCharges $2.39M USD 1 Quarter
Impairment loss AssetImpairmentCharges - USD 1 Quarter
Lease expense OperatingLeaseExpense $236.00K USD 1 Quarter
Lease expense OperatingLeaseExpense $19.00K USD 1 Quarter
Deferred tax provision (benefit) DeferredIncomeTaxExpenseBenefit $58.00K USD 1 Quarter
Deferred tax provision (benefit) DeferredIncomeTaxExpenseBenefit $-463.00K USD 1 Quarter
Change in fair value of derivatives UnrealizedGainLossOnDerivatives $-1.70M USD 1 Quarter
Change in fair value of derivatives UnrealizedGainLossOnDerivatives $170.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $32.57M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $4.54M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $4.70M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-4.95M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $3.54M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $3.82M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-29.82M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $8.10M USD 1 Quarter
Income taxes, net IncreaseDecreaseInAccruedTaxesPayable $10.41M USD 1 Quarter
Income taxes, net IncreaseDecreaseInAccruedTaxesPayable $2.01M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $32.52M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-25.12M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $2.34M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $30.37M USD 1 Quarter
Purchases of equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $1.21M USD 1 Quarter
Purchases of equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $1.25M USD 1 Quarter
Payment for intangible assets acquired PaymentsToAcquireIntangibleAssets $302.00K USD 1 Quarter
Payment for intangible assets acquired PaymentsToAcquireIntangibleAssets $460.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-31.87M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-4.06M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $14.32M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $6.58M USD 1 Quarter
Proceeds from exercise of options ProceedsFromStockOptionsExercised $1.47M USD 1 Quarter
Proceeds from exercise of options ProceedsFromStockOptionsExercised $641.00K USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $7.91M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $10.40M USD 1 Quarter
Dividends paid to noncontrolling interest PaymentsOfDividendsMinorityInterest $324.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-16.66M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-20.77M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $-6.24M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $-4.03M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-26.37M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-49.86M USD 1 Quarter
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $143.31M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $133.42M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $169.68M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $83.56M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $143.31M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $133.42M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $169.68M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $83.56M USD Point-in-time
Interest InterestPaidNet $462.00K USD 1 Quarter
Interest InterestPaidNet $375.00K USD 1 Quarter
Income taxes IncomeTaxesPaid $2.86M USD 1 Quarter
Income taxes IncomeTaxesPaid $3.71M USD 1 Quarter
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $602.29M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $702.45M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $706.66M USD Point-in-time
Net income ProfitLoss $13.30M USD 1 Quarter
Net income ProfitLoss $36.63M USD 1 Quarter
Net derivative instrument gain (loss), net of tax OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest $57.00K USD 1 Quarter
Net derivative instrument gain (loss), net of tax OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest $-164.00K USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $602.29M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $702.45M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $706.66M USD Point-in-time
Comprehensive Income 20 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $13.30M USD 1 Quarter
Net income ProfitLoss $36.63M USD 1 Quarter
Net derivative instrument gain (loss), net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $257.00K USD 1 Quarter
Net derivative instrument gain (loss), net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-600.00K USD 1 Quarter
Transfer from other comprehensive income into earnings ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent $52.00K USD 1 Quarter
Transfer from other comprehensive income into earnings ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent - USD 1 Quarter
Translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-11.92M USD 1 Quarter
Translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-26.12M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $9.91M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $1.58M USD 1 Quarter
Net income NetIncomeLossAttributableToNoncontrollingInterest $3.24M USD 1 Quarter
Net income NetIncomeLossAttributableToNoncontrollingInterest $8.96M USD 1 Quarter
Net derivative instrument gain (loss), net of tax OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest $57.00K USD 1 Quarter
Net derivative instrument gain (loss), net of tax OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest $-164.00K USD 1 Quarter
Translation adjustments, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-3.53M USD 1 Quarter
Translation adjustments, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-8.94M USD 1 Quarter
Comprehensive loss attributable to the noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-141.00K USD 1 Quarter
Comprehensive loss attributable to the noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-232.00K USD 1 Quarter
Comprehensive income attributable to Inter Parfums, Inc. ComprehensiveIncomeNetOfTax $10.05M USD 1 Quarter
Comprehensive income attributable to Inter Parfums, Inc. ComprehensiveIncomeNetOfTax $1.81M USD 1 Quarter

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

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