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10-Q Filing

SKECHERS USA INC CIK: 1065837 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001564590-19-018382
Period End Date 20190331
Filing Date 20190510
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance skx-20190331.xml
Balance Sheet 84 line items
Line Item Tag Value Unit Period
Trade accounts receivable, allowances AllowanceForDoubtfulAccountsReceivableCurrent $25.62M USD Point-in-time
Trade accounts receivable, allowances AllowanceForDoubtfulAccountsReceivableCurrent $25.21M 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 $687.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $872.24M USD 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 authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $718.54M USD Point-in-time
Preferred Stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Short-term investments ShortTermInvestments $100.03M USD Point-in-time
Preferred Stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Short-term investments ShortTermInvestments $96.39M USD Point-in-time
Preferred Stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Trade accounts receivable, less allowances of $25,206 in 2019 and $25,616 in 2018 AccountsReceivableNetCurrent $736.56M USD Point-in-time
Preferred Stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Trade accounts receivable, less allowances of $25,206 in 2019 and $25,616 in 2018 AccountsReceivableNetCurrent $501.91M USD Point-in-time
Other receivables OtherReceivablesNetCurrent $35.35M USD Point-in-time
Other receivables OtherReceivablesNetCurrent $55.68M USD Point-in-time
Total receivables ReceivablesNetCurrent $771.91M USD Point-in-time
Total receivables ReceivablesNetCurrent $557.60M USD Point-in-time
Inventories FIFOInventoryAmount $863.26M USD Point-in-time
Inventories FIFOInventoryAmount $740.87M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $85.14M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $79.02M USD Point-in-time
Total current assets AssetsCurrent $2.38B USD Point-in-time
Total current assets AssetsCurrent $2.47B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $605.88M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $585.46M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $970.38M USD Point-in-time
Deferred tax assets DeferredTaxAssetsNetNoncurrent $36.56M USD Point-in-time
Deferred tax assets DeferredTaxAssetsNetNoncurrent $39.43M USD Point-in-time
Long-term investments LongTermInvestments $95.91M USD Point-in-time
Long-term investments LongTermInvestments $93.75M USD Point-in-time
Long-term investments LongTermInvestments $93.75M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $36.89M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $37.48M USD Point-in-time
Total non-current assets AssetsNoncurrent $1.75B USD Point-in-time
Total non-current assets AssetsNoncurrent $756.12M USD Point-in-time
TOTAL ASSETS Assets $4.13B USD Point-in-time
TOTAL ASSETS Assets $3.23B USD Point-in-time
Current installments of long-term borrowings LongTermDebtCurrent $1.67M USD Point-in-time
Current installments of long-term borrowings LongTermDebtCurrent $1.58M USD Point-in-time
Short-term borrowings ShortTermBorrowings $14.97M USD Point-in-time
Short-term borrowings ShortTermBorrowings $7.22M USD Point-in-time
Accounts payable AccountsPayableCurrent $679.55M USD Point-in-time
Accounts payable AccountsPayableCurrent $456.31M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $170.83M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $175.49M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $161.78M USD Point-in-time
Total current liabilities LiabilitiesCurrent $819.17M USD Point-in-time
Total current liabilities LiabilitiesCurrent $850.22M USD Point-in-time
Long-term borrowings, excluding current installments LongTermDebtNoncurrent $93.75M USD Point-in-time
Long-term borrowings, excluding current installments LongTermDebtNoncurrent $88.12M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $875.70M USD Point-in-time
Deferred tax liabilities DeferredTaxLiabilitiesNoncurrent $443.00K USD Point-in-time
Deferred tax liabilities DeferredTaxLiabilitiesNoncurrent $451.00K USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $102.82M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $100.19M USD Point-in-time
Total non-current liabilities LiabilitiesNoncurrent $1.07B USD Point-in-time
Total non-current liabilities LiabilitiesNoncurrent $188.76M USD Point-in-time
Total liabilities Liabilities $1.89B USD Point-in-time
Total liabilities Liabilities $1.04B 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 $375.02M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $291.87M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-31.49M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-29.52M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.69B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.80B USD Point-in-time
Skechers U.S.A., Inc. equity StockholdersEquity $2.03B USD Point-in-time
Skechers U.S.A., Inc. equity StockholdersEquity $2.06B USD Point-in-time
Non-controlling interests MinorityInterest $172.99M USD Point-in-time
Non-controlling interests MinorityInterest $154.32M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.24B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.08B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.95B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.19B USD Point-in-time
TOTAL LIABILITIES AND EQUITY LiabilitiesAndStockholdersEquity $3.23B USD Point-in-time
TOTAL LIABILITIES AND EQUITY LiabilitiesAndStockholdersEquity $4.13B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.28B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.25B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $666.97M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $686.25M USD 1 Quarter
Gross profit GrossProfit $590.51M USD 1 Quarter
Gross profit GrossProfit $583.10M USD 1 Quarter
Royalty income RoyaltyOperatingIncomeExcludedFromGrossProfit $5.52M USD 1 Quarter
Royalty income RoyaltyOperatingIncomeExcludedFromGrossProfit $5.20M USD 1 Quarter
Operating income OperatingIncome $588.63M USD 1 Quarter
Operating income OperatingIncome $595.71M USD 1 Quarter
Selling SellingAndMarketingExpense $84.45M USD 1 Quarter
Selling SellingAndMarketingExpense $70.21M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $355.38M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $359.63M USD 1 Quarter
Operating expenses OperatingExpenses $439.83M USD 1 Quarter
Operating expenses OperatingExpenses $429.85M USD 1 Quarter
Earnings from operations OperatingIncomeLoss $165.86M USD 1 Quarter
Earnings from operations OperatingIncomeLoss $148.80M USD 1 Quarter
Interest income InvestmentIncomeInterest $755.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $3.14M USD 1 Quarter
Interest expense InterestExpense $1.28M USD 1 Quarter
Interest expense InterestExpense $1.08M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-4.99M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $3.40M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $3.08M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-3.12M USD 1 Quarter
Earnings before income tax expense IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $151.88M USD 1 Quarter
Earnings before income tax expense IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $162.74M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $14.62M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $31.72M USD 1 Quarter
Net earnings ProfitLoss $137.26M USD 1 Quarter
Net earnings ProfitLoss $131.02M USD 1 Quarter
Less: Net earnings attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $22.26M USD 1 Quarter
Less: Net earnings attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $19.61M USD 1 Quarter
Net earnings attributable to Skechers U.S.A., Inc. NetIncomeLoss $108.76M USD 1 Quarter
Net earnings attributable to Skechers U.S.A., Inc. NetIncomeLoss $117.65M USD 1 Quarter
Basic EarningsPerShareBasic $0.71 USD 1 Quarter
Basic EarningsPerShareBasic $0.75 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.71 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.75 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 153.48M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 156.43M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 154.13M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 157.63M 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 $131.02M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $27.42M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $27.18M USD 1 Quarter
Provision for bad debts and returns ProvisionForDoubtfulAccounts $9.66M USD 1 Quarter
Provision for bad debts and returns ProvisionForDoubtfulAccounts $13.57M USD 1 Quarter
Share based compensation ShareBasedCompensation $8.94M USD 1 Quarter
Share based compensation ShareBasedCompensation $8.68M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $3.07M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $435.00K USD 1 Quarter
Other items, net OtherNoncashExpense $304.00K USD 1 Quarter
Other items, net OtherNoncashExpense $17.00K USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossUnrealized $-4.42M USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossUnrealized $469.00K USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $218.86M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $275.84M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-126.81M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-79.93M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $8.62M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $27.23M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $11.10M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-135.98M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $6.91M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $10.31M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-63.51M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $3.54M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $34.46M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $38.14M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $1.47M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $63.58M USD 1 Quarter
Proceeds from sales and maturities of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $65.06M USD 1 Quarter
Proceeds from sales and maturities of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $347.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-35.59M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-36.66M USD 1 Quarter
Repayments on long-term borrowings RepaymentsOfLongTermDebtAndCapitalSecurities $458.00K USD 1 Quarter
Repayments on long-term borrowings RepaymentsOfLongTermDebtAndCapitalSecurities $457.00K USD 1 Quarter
Proceeds from long-term borrowings ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet $3.85M USD 1 Quarter
Proceeds from short-term borrowings ProceedsFromRepaymentsOfShortTermDebt $7.74M USD 1 Quarter
Proceeds 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
Payments for taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.82M USD 1 Quarter
Cash used for purchase of non-controlling interest PaymentsForRepurchaseOfRedeemableNoncontrollingInterest $82.89M USD 1 Quarter
Distributions to non-controlling interests PaymentsToMinorityShareholders $4.44M USD 1 Quarter
Distributions to non-controlling interests PaymentsToMinorityShareholders $1.01M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-12.42M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-93.59M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $8.11M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $9.02M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-36.36M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-184.74M USD 1 Quarter
Cash and cash equivalents at beginning of the period CashAndCashEquivalentsAtCarryingValue $687.50M USD Point-in-time
Cash and cash equivalents at beginning of the period CashAndCashEquivalentsAtCarryingValue $872.24M 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 beginning of the period CashAndCashEquivalentsAtCarryingValue $718.54M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalentsAtCarryingValue $687.50M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalentsAtCarryingValue $872.24M USD Point-in-time
Cash and cash equivalents at end 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
Interest InterestPaidNet $1.29M USD 1 Quarter
Interest InterestPaidNet $1.08M USD 1 Quarter
Income taxes, net IncomeTaxesPaidNet $18.39M USD 1 Quarter
Income taxes, net IncomeTaxesPaidNet $16.28M USD 1 Quarter
Land and other assets contribution from non-controlling interest ContributionOfProperty $7.57M USD 1 Quarter
Note payable contribution from non-controlling interest NotePayableContributionFromNoncontrollingInterest $2.15M USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.24B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.08B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.95B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.19B USD Point-in-time
Net earnings ProfitLoss $137.26M USD 1 Quarter
Net earnings ProfitLoss $131.02M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $5.33M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $3.45M USD 1 Quarter
Contribution from noncontrolling interest of consolidated entity NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $7.57M USD 1 Quarter
Distribution to noncontrolling interest of consolidated entity MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $4.44M USD 1 Quarter
Distribution to noncontrolling interest of consolidated entity MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $1.01M USD 1 Quarter
Purchase of non-controlling interest MinorityInterestDecreaseFromRedemptions $82.89M USD 1 Quarter
Stock compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.94M USD 1 Quarter
Stock compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.68M USD 1 Quarter
Shares redeemed for employee tax withholdings StockRedeemedOrCalledDuringPeriodValue $5.82M USD 1 Quarter
Shares redeemed for employee tax withholdings StockRedeemedOrCalledDuringPeriodValue $8.72M USD 1 Quarter
Repurchases of common stock StockRepurchasedDuringPeriodValue $15.01M USD 1 Quarter
Repurchases of common stock StockRepurchasedDuringPeriodValue $3.00M USD 1 Quarter
Repurchase of common stock, Shares StockRepurchasedDuringPeriodShares 75,991.00 shares 1 Quarter
Repurchase of common stock, Shares StockRepurchasedDuringPeriodShares 457,951.00 shares 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.24B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.08B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.95B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.19B USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $137.26M USD 1 Quarter
Net earnings ProfitLoss $131.02M USD 1 Quarter
Gain on foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $5.33M USD 1 Quarter
Gain on foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $3.45M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $142.59M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $134.47M USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $23.75M USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $22.45M USD 1 Quarter
Comprehensive income attributable to Skechers U.S.A., Inc. ComprehensiveIncomeNetOfTax $110.72M 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.

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