10-Q Filing

G III APPAREL GROUP LTD /DE/ CIK: 821002 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001571049-16-015748`
Period End Date	20160430
Filing Date	20160602
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	giii-20160430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 109 Income Statement 37 Cash Flow Statement 49

Balance Sheet 109 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts and sales discounts on accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$74.26M	USD	Point-in-time
Allowance for doubtful accounts and sales discounts on accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$60.68M	USD	Point-in-time
Allowance for doubtful accounts and sales discounts on accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$48.57M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$85.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$128.35M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$95.45M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.59M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts and sales discounts of $60,682, $48,574 and $74,261, respectively	`AccountsReceivableNetCurrent`	$208.77M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net of allowances for doubtful accounts and sales discounts of $60,682, $48,574 and $74,261, respectively	`AccountsReceivableNetCurrent`	$213.75M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts and sales discounts of $60,682, $48,574 and $74,261, respectively	`AccountsReceivableNetCurrent`	$221.50M	USD	Point-in-time
Inventories	`InventoryNet`	$485.31M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$371.22M	USD	Point-in-time
Inventories	`InventoryNet`	$406.72M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$8.71M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$25.36M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$23.35M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.96M	shares	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetCurrent`	$16.06M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetCurrent`	$17.58M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetCurrent`	$17.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	46.23M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	46.21M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$22.14M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	984,000.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$26.50M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	667,000.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	667,000.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$22.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$902.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$785.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$712.62M	USD	Point-in-time
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	`EquityMethodInvestments`	$25.66M	USD	Point-in-time
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	`EquityMethodInvestments`	$61.46M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$84.40M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$103.72M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$103.58M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$25.63M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$27.03M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$24.89M	USD	Point-in-time
OTHER INTANGIBLES, NET	`OtherIntangibleAssetsNet`	$10.74M	USD	Point-in-time
OTHER INTANGIBLES, NET	`OtherIntangibleAssetsNet`	$10.80M	USD	Point-in-time
OTHER INTANGIBLES, NET	`OtherIntangibleAssetsNet`	$11.65M	USD	Point-in-time
TRADEMARKS, NET	`FiniteLivedTrademarksNet`	$67.27M	USD	Point-in-time
TRADEMARKS, NET	`FiniteLivedTrademarksNet`	$67.04M	USD	Point-in-time
TRADEMARKS, NET	`FiniteLivedTrademarksNet`	$69.37M	USD	Point-in-time
GOODWILL	`Goodwill`	$49.32M	USD	Point-in-time
GOODWILL	`Goodwill`	$49.44M	USD	Point-in-time
GOODWILL	`Goodwill`	$50.41M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.11B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.18B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$952.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$102.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$173.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$100.22M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$71.22M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$44.40M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$51.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$147.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$244.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.85M	USD	Point-in-time
DEFERRED INCOME TAXES, NET	`DeferredTaxLiabilitiesNoncurrent`	$18.68M	USD	Point-in-time
DEFERRED INCOME TAXES, NET	`DeferredTaxLiabilitiesNoncurrent`	$23.84M	USD	Point-in-time
DEFERRED INCOME TAXES, NET	`DeferredTaxLiabilitiesNoncurrent`	$25.19M	USD	Point-in-time
CONTINGENT PURCHASE PRICE PAYABLE	`BusinessCombinationContingentConsiderationLiability`	$868.00K	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$28.00M	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$27.30M	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$24.19M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$205.03M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$190.90M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$295.94M	USD	Point-in-time
Preferred stock; 1,000 shares authorized; No shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; 1,000 shares authorized; No shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; 1,000 shares authorized; No shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $.01 par value; 120,000 shares authorized; 46,231, 45,964 and 46,212 shares issued	`CommonStockValue`	$229.00K	USD	Point-in-time
Common stock - $.01 par value; 120,000 shares authorized; 46,231, 45,964 and 46,212 shares issued	`CommonStockValue`	$230.00K	USD	Point-in-time
Common stock - $.01 par value; 120,000 shares authorized; 46,231, 45,964 and 46,212 shares issued	`CommonStockValue`	$229.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$353.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$333.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$358.46M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.66M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-21.23M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.69M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$563.26M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$452.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$560.49M	USD	Point-in-time
Common stock held in treasury, at cost - 667, 984 and 667 shares respectively	`TreasuryStockValue`	$2.64M	USD	Point-in-time
Common stock held in treasury, at cost - 667, 984 and 667 shares respectively	`TreasuryStockValue`	$2.64M	USD	Point-in-time
Common stock held in treasury, at cost - 667, 984 and 667 shares respectively	`TreasuryStockValue`	$3.90M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$901.65M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$888.13M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$761.15M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$952.05M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$1.11B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$1.18B	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$457.40M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$432.96M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$278.54M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$291.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$154.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$165.67M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$153.10M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$137.03M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.69M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$5.37M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$11.71M	USD	1 Quarter
Equity income in joint venture	`VentureCapitalGainsLossesNet`	$269.00K	USD	1 Quarter
Interest and financing charges, net	`FinancingInterestExpense`	$975.00K	USD	1 Quarter
Interest and financing charges, net	`FinancingInterestExpense`	$1.24M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.40M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.73M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.97M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.63M	USD	1 Quarter
Net income	`ProfitLoss`	$6.76M	USD	1 Quarter
Net income	`ProfitLoss`	$2.77M	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	44,965.00	shares	1 Quarter
Weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	45,549.00	shares	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.15	USD	1 Quarter
Net income per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	46,942.00	shares	1 Quarter
Weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	46,210.00	shares	1 Quarter
Net income	`NetIncomeLoss`	$6.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.77M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-11.12M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.03M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-11.12M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$6.03M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$8.80M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-4.36M	USD	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$6.76M	USD	1 Quarter
Net income	`ProfitLoss`	$2.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.69M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.19M	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-149.00K	USD	1 Quarter
Equity income in joint venture	`VentureCapitalGainsLossesNet`	$269.00K	USD	1 Quarter
Equity based compensation	`ShareBasedCompensation`	$4.47M	USD	1 Quarter
Equity based compensation	`ShareBasedCompensation`	$3.62M	USD	1 Quarter
Deferred financing charges	`AmortizationOfFinancingCosts`	$184.00K	USD	1 Quarter
Deferred financing charges	`AmortizationOfFinancingCosts`	$182.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$10.88M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-7.97M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-79.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-54.10M	USD	1 Quarter
Income taxes, net	`IncreaseDecreaseInIncomeTaxes`	$-2.51M	USD	1 Quarter
Income taxes, net	`IncreaseDecreaseInIncomeTaxes`	$-1.30M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-692.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.28M	USD	1 Quarter
Other assets, net	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.22M	USD	1 Quarter
Other assets, net	`IncreaseDecreaseInOtherNoncurrentAssets`	$484.00K	USD	1 Quarter
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-92.19M	USD	1 Quarter
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-93.56M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-35.76M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.83M	USD	1 Quarter
Investment in unconsolidated affiliate	`PaymentsToAcquireEquityMethodInvestments`	$35.43M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$7.69M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.69M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-41.53M	USD	1 Quarter
Proceeds from exercise of equity awards	`ProceedsFromStockOptionsExercised`	$303.00K	USD	1 Quarter
Proceeds from exercise of equity awards	`ProceedsFromStockOptionsExercised`	$247.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$247.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$303.00K	USD	1 Quarter
Foreign currency translation adjustments	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.31M	USD	1 Quarter
Foreign currency translation adjustments	`EffectOfExchangeRateOnCashAndCashEquivalents`	$497.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-37.14M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-42.65M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$85.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$128.35M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$95.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$132.59M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$85.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$128.35M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$95.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$132.59M	USD	Point-in-time
Interest	`InterestPaid`	$749.00K	USD	1 Quarter
Interest	`InterestPaid`	$939.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$5.80M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$2.77M	USD	1 Quarter

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