10-Q Filing

SKECHERS USA INC CIK: 1065837 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-010930`
Period End Date	20180331
Filing Date	20180504
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	skx-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 44 Cash Flow Statement 64 Comprehensive Income 10

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$51.18M	USD	Point-in-time
Trade accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$19.89M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$718.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$700.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$607.81M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$736.43M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade accounts receivable, less allowances of $19,885 in 2018 and $51,180 in 2017	`AccountsReceivableNetCurrent`	$405.92M	USD	Point-in-time
Trade accounts receivable, less allowances of $19,885 in 2018 and $51,180 in 2017	`AccountsReceivableNetCurrent`	$692.57M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$31.27M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$27.08M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$433.00M	USD	Point-in-time
Total receivables	`ReceivablesNetCurrent`	$723.84M	USD	Point-in-time
Inventories	`FIFOInventoryAmount`	$873.02M	USD	Point-in-time
Inventories	`FIFOInventoryAmount`	$800.32M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$62.57M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$68.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.29B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.11B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$552.54M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$541.60M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$29.92M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$29.57M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$58.53M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$60.72M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$642.83M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$630.06M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.94B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.74B	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtCurrent`	$1.80M	USD	Point-in-time
Current installments of long-term borrowings	`LongTermDebtCurrent`	$1.80M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$8.01M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$12.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$524.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$505.33M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$82.20M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$135.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$674.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$597.35M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtNoncurrent`	$70.65M	USD	Point-in-time
Long-term borrowings, excluding current installments	`LongTermDebtNoncurrent`	$71.10M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$161.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$161.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$107.83M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$118.26M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$189.52M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$178.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$852.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$786.87M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$450.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$453.42M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.74M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.39B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.51B	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$1.95B	USD	Point-in-time
Skechers U.S.A., Inc. equity	`StockholdersEquity`	$1.83B	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$119.15M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$137.16M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$95.36M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$81.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.95B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.08B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$2.74B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$2.94B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$1.07B	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$1.25B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$596.31M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$666.97M	USD	1 Quarter
Gross profit	`GrossProfit`	$476.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$583.10M	USD	1 Quarter
Royalty income	`RoyaltyOperatingIncomeExcludedFromGrossProfit`	$4.23M	USD	1 Quarter
Royalty income	`RoyaltyOperatingIncomeExcludedFromGrossProfit`	$5.52M	USD	1 Quarter
Operating income	`OperatingIncome`	$480.73M	USD	1 Quarter
Operating income	`OperatingIncome`	$588.63M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$73.81M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$84.45M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$355.38M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$282.50M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$356.31M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$439.83M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$124.42M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$148.80M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$413.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$755.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.08M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.49M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$3.40M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$696.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$3.08M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-381.00K	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$151.88M	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$124.04M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$17.41M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$14.62M	USD	1 Quarter
Net earnings	`ProfitLoss`	$137.26M	USD	1 Quarter
Net earnings	`ProfitLoss`	$106.64M	USD	1 Quarter
Less: Net earnings attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$19.61M	USD	1 Quarter
Less: Net earnings attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$12.64M	USD	1 Quarter
Net earnings attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$94.00M	USD	1 Quarter
Net earnings attributable to Skechers U.S.A., Inc.	`NetIncomeLoss`	$117.65M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.75	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.61	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.75	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.60	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	155.10M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	156.43M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	157.63M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	155.93M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$137.26M	USD	1 Quarter
Net earnings	`ProfitLoss`	$106.64M	USD	1 Quarter
Depreciation and amortization of property, plant and equipment	`DepreciationAndAmortization`	$18.88M	USD	1 Quarter
Depreciation and amortization of property, plant and equipment	`DepreciationAndAmortization`	$24.18M	USD	1 Quarter
Amortization of other assets	`AmortizationOfIntangibleAssets`	$3.45M	USD	1 Quarter
Amortization of other assets	`AmortizationOfIntangibleAssets`	$3.00M	USD	1 Quarter
Provision for bad debts and returns	`ProvisionForDoubtfulAccounts`	$13.57M	USD	1 Quarter
Provision for bad debts and returns	`ProvisionForDoubtfulAccounts`	$11.99M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$6.63M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$8.68M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$435.00K	USD	1 Quarter
Gain (loss) on non-current assets	`GainLossOnDispositionOfAssets`	$-17.00K	USD	1 Quarter
Gain (loss) on non-current assets	`GainLossOnDispositionOfAssets`	$585.00K	USD	1 Quarter
Net foreign currency adjustments	`ForeignCurrencyTransactionGainLossUnrealized`	$492.00K	USD	1 Quarter
Net foreign currency adjustments	`ForeignCurrencyTransactionGainLossUnrealized`	$469.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$233.68M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$275.84M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-117.96M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-79.93M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$180.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.91M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.09M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$711.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-98.28M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.10M	USD	1 Quarter
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-12.65M	USD	1 Quarter
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$10.31M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.54M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-84.41M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.46M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.88M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$684.00K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$1.47M	USD	1 Quarter
Proceeds from sales of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$240.00K	USD	1 Quarter
Proceeds from sales of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$347.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-29.33M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-35.59M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$458.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$444.00K	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.06M	USD	1 Quarter
Proceeds (payments) from short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-219.00K	USD	1 Quarter
Proceeds (payments) from short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$4.19M	USD	1 Quarter
Payments for taxes related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$8.72M	USD	1 Quarter
Distributions to non-controlling interests of consolidated entity	`PaymentsToMinorityShareholders`	$4.44M	USD	1 Quarter
Distributions to non-controlling interests of consolidated entity	`PaymentsToMinorityShareholders`	$892.00K	USD	1 Quarter
Contributions from non-controlling interests of consolidated entity	`ProceedsFromMinorityShareholders`	$46.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-12.42M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$556.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-113.17M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-44.47M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.45M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$8.11M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$718.54M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$700.07M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$607.81M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$736.43M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$718.54M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$700.07M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$607.81M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$736.43M	USD	Point-in-time
Interest	`InterestPaid`	$1.08M	USD	1 Quarter
Interest	`InterestPaid`	$1.46M	USD	1 Quarter
Income taxes, net	`IncomeTaxesPaidNet`	$10.54M	USD	1 Quarter
Income taxes, net	`IncomeTaxesPaidNet`	$16.28M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$137.26M	USD	1 Quarter
Net earnings	`ProfitLoss`	$106.64M	USD	1 Quarter
Gain on foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.33M	USD	1 Quarter
Gain on foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.58M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$111.22M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$142.59M	USD	1 Quarter
Less: Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$22.45M	USD	1 Quarter
Less: Comprehensive income attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$14.32M	USD	1 Quarter
Comprehensive income attributable to Skechers U.S.A., Inc.	`ComprehensiveIncomeNetOfTax`	$96.89M	USD	1 Quarter
Comprehensive income attributable to Skechers U.S.A., Inc.	`ComprehensiveIncomeNetOfTax`	$120.15M	USD	1 Quarter

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