2016 Q1 Form 10-Q Financial Statement

#000162828016015809 Filed on May 06, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q1
Revenue $329.4M $344.3M $323.9M
YoY Change 1.67% 0.5% 6.34%
Cost Of Revenue $213.2M $220.1M $212.6M
YoY Change 0.28% -2.22% 8.3%
Gross Profit $116.2M $124.2M $111.4M
YoY Change 4.33% 5.7% 2.8%
Gross Profit Margin 35.28% 36.07% 34.38%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.201M $6.900M $4.525M
YoY Change 14.94% 68.29% 34.11%
% of Gross Profit 4.48% 5.56% 4.06%
Operating Expenses $88.49M $85.50M $82.40M
YoY Change 7.39% 0.0% 9.11%
Operating Profit $29.88M $38.70M $29.85M
YoY Change 0.11% 20.94% -17.08%
Interest Expense -$200.0K $1.900M $500.0K
YoY Change -140.0% -2000.0% -50.0%
% of Operating Profit -0.67% 4.91% 1.68%
Other Income/Expense, Net -$1.400M
YoY Change -300.0%
Pretax Income $29.70M $39.20M $30.34M
YoY Change -2.11% 20.62% -18.05%
Income Tax $5.808M $13.40M $10.41M
% Of Pretax Income 19.55% 34.18% 34.3%
Net Earnings $23.66M $25.70M $19.82M
YoY Change 19.35% 22.38% -16.13%
Net Earnings / Revenue 7.18% 7.46% 6.12%
Basic Earnings Per Share $0.41 $0.33
Diluted Earnings Per Share $0.39 $285.6K $0.32
COMMON SHARES
Basic Shares Outstanding 57.71M shares 62.58M shares 59.61M shares
Diluted Shares Outstanding 60.25M shares 62.08M shares

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $105.3M $104.8M $77.80M
YoY Change 35.35% -6.93% -57.67%
Cash & Equivalents $70.91M $72.41M $50.46M
Short-Term Investments $34.40M $32.40M $27.30M
Other Short-Term Assets $41.70M $53.70M $54.60M
YoY Change -23.63% 26.95% 89.58%
Inventory $80.36M $102.1M $76.03M
Prepaid Expenses
Receivables $217.1M $198.4M $215.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $444.6M $459.0M $423.5M
YoY Change 4.97% 3.79% -10.62%
LONG-TERM ASSETS
Property, Plant & Equipment $72.73M $72.01M $69.26M
YoY Change 5.0% 4.51% 18.53%
Goodwill $138.1M $137.1M $143.7M
YoY Change -3.91% -11.41% 49.95%
Intangibles $150.5M $149.8M $151.9M
YoY Change -0.89% 7.23% 15.44%
Long-Term Investments $87.60M $88.50M $90.90M
YoY Change -3.63% -2.1% -1.09%
Other Assets $4.748M $5.088M $7.593M
YoY Change -37.47% -49.3% 21.94%
Total Long-Term Assets $457.2M $455.4M $468.4M
YoY Change -2.38% -2.9% 8.5%
TOTAL ASSETS
Total Short-Term Assets $444.6M $459.0M $423.5M
Total Long-Term Assets $457.2M $455.4M $468.4M
Total Assets $901.8M $914.4M $891.9M
YoY Change 1.11% 0.35% -1.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $86.83M $79.79M $99.31M
YoY Change -12.57% -13.87% 11.5%
Accrued Expenses $47.41M $72.11M $44.42M
YoY Change 6.73% 6.31% 27.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $9.469M
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $152.4M $174.8M $166.5M
YoY Change -8.5% -1.57% 22.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $19.50M $21.50M $39.90M
YoY Change -51.13% -45.43% 14.0%
Total Long-Term Liabilities $19.50M $21.50M $39.90M
YoY Change -51.13% -45.43% 14.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $152.4M $174.8M $166.5M
Total Long-Term Liabilities $19.50M $21.50M $39.90M
Total Liabilities $198.1M $235.7M $231.2M
YoY Change -14.31% -2.48% 24.32%
SHAREHOLDERS EQUITY
Retained Earnings $916.8M $896.8M $803.7M
YoY Change 14.07% 14.41% 15.53%
Common Stock $6.000K $6.000K $6.000K
YoY Change 0.0% 0.0% -25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $526.6M $512.6M $429.7M
YoY Change 22.55% 35.98% 62.74%
Treasury Stock Shares 23.96M shares 35.36M shares 21.30M shares
Shareholders Equity $703.3M $678.4M $660.3M
YoY Change
Total Liabilities & Shareholders Equity $901.8M $914.4M $891.9M
YoY Change 1.11% 0.35% 3.24%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q1
OPERATING ACTIVITIES
Net Income $23.66M $25.70M $19.82M
YoY Change 19.35% 22.38% -16.13%
Depreciation, Depletion And Amortization $5.201M $6.900M $4.525M
YoY Change 14.94% 68.29% 34.11%
Cash From Operating Activities $15.25M $85.90M -$2.446M
YoY Change -723.26% 9.85% -111.35%
INVESTING ACTIVITIES
Capital Expenditures $4.384M -$6.000M $3.669M
YoY Change 19.49% 5.26% -16.46%
Acquisitions $0.00 $9.129M
YoY Change -100.0% 35.24%
Other Investing Activities $1.000M -$10.00M -$6.700M
YoY Change -114.93% -91.9% -58.64%
Cash From Investing Activities -$3.347M -$16.00M -$10.37M
YoY Change -67.71% -87.62% -49.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.03M $52.78M
YoY Change -73.41% 79.91%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$13.84M -34.80M -$18.18M
YoY Change -23.89% -6.2% -35.49%
NET CHANGE
Cash From Operating Activities $15.25M 85.90M -$2.446M
Cash From Investing Activities -$3.347M -16.00M -$10.37M
Cash From Financing Activities -$13.84M -34.80M -$18.18M
Net Change In Cash -$1.941M 35.10M -$31.00M
YoY Change -93.74% -139.84% 13.93%
FREE CASH FLOW
Cash From Operating Activities $15.25M $85.90M -$2.446M
Capital Expenditures $4.384M -$6.000M $3.669M
Free Cash Flow $10.86M $91.90M -$6.115M
YoY Change -277.61% 9.54% -135.62%

Facts In Submission

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CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3327000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
26343000 USD
CY2016Q1 us-gaap Foreign Currency Contract Asset Fair Value Disclosure
ForeignCurrencyContractAssetFairValueDisclosure
72000 USD
CY2015Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
-254000
CY2016Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
80000
CY2015Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
609000 USD
CY2016Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
CY2015Q1 us-gaap Goodwill
Goodwill
143719000 USD
CY2015Q4 us-gaap Goodwill
Goodwill
137097000 USD
CY2016Q1 us-gaap Goodwill
Goodwill
138096000 USD
CY2015Q1 us-gaap Gross Profit
GrossProfit
111378000 USD
CY2016Q1 us-gaap Gross Profit
GrossProfit
116202000 USD
CY2015Q1 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
3045000 USD
CY2016Q1 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
30343000 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
29704000 USD
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10408000 USD
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9505000 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-16996000 USD
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-17655000 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9140000 USD
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
14270000 USD
CY2015Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-19000 USD
CY2015 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
71000 USD
CY2016Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-16000 USD
CY2015Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-3809000 USD
CY2016Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-4367000 USD
CY2015Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
17149000 USD
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
21724000 USD
CY2015 us-gaap Increase Decrease In Notes Receivable Related Parties
IncreaseDecreaseInNotesReceivableRelatedParties
71 USD
CY2015Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
0 USD
CY2016Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
902000 USD
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1564000 USD
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1501000 USD
CY2015Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-29628000 USD
CY2016Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-33022000 USD
CY2015Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
151899000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
149758000 USD
CY2016Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
150546000 USD
CY2015Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
496000 USD
CY2016Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-176000 USD
CY2015Q1 us-gaap Inventory Net
InventoryNet
76029000 USD
CY2015Q4 us-gaap Inventory Net
InventoryNet
102080000 USD
CY2016Q1 us-gaap Inventory Net
InventoryNet
80356000 USD
CY2015Q1 us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
345000 USD
CY2016Q1 us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
308000 USD
CY2015Q1 us-gaap Liabilities
Liabilities
231165000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
235722000 USD
CY2016Q1 us-gaap Liabilities
Liabilities
211834000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
891856000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
914385000 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
915500000 USD
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
166523000 USD
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
174799000 USD
CY2016Q1 us-gaap Liabilities Current
LiabilitiesCurrent
152365000 USD
CY2016Q1 us-gaap Line Of Credit Facility Collateral
LineOfCreditFacilityCollateral
.85
CY2016Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
30000000 USD
CY2015Q1 us-gaap Loss Contingency Accrual Carrying Value Period Increase Decrease
LossContingencyAccrualCarryingValuePeriodIncreaseDecrease
427000 USD
CY2016Q1 us-gaap Loss Contingency Accrual Carrying Value Period Increase Decrease
LossContingencyAccrualCarryingValuePeriodIncreaseDecrease
0 USD
CY2015Q1 us-gaap Minority Interest
MinorityInterest
385000 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
259000 USD
CY2016Q1 us-gaap Minority Interest
MinorityInterest
347000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18182000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10142000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10367000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3347000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2446000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11980000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
19824000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
19962000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
111000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
237000 USD
CY2015Q1 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
1727000 USD
CY2015Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
1158000 USD
CY2016Q1 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
1238000 USD
CY2015Q1 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
3244000 USD
CY2015Q4 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
2990000 USD
CY2016Q1 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
2903000 USD
CY2007Q2 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
3000000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
82404000 USD
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
88493000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
29847000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
29880000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7593000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
5088000 USD
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4748000 USD
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-5984000 USD
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
5153000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-5822000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
7570000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-5984000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
5153000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5881000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
6688000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-59000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-882000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
248000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-242000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
842000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
1754000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
535000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1114000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-307000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-640000 USD
CY2015Q1 us-gaap Other Liabilities
OtherLiabilities
658000 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
1488000 USD
CY2016Q1 us-gaap Other Liabilities
OtherLiabilities
2390000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
52777000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
14034000 USD
CY2015Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
19090000 USD
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
3497000 USD
CY2015Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
9129000 USD
CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3669000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4384000 USD
CY2014Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
29176000 USD
CY2015Q1 us-gaap Prepaid Taxes
PrepaidTaxes
11332000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
20641000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
25961000 USD
CY2015Q1 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
103000 USD
CY2015 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
409000 USD
CY2016Q1 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
103000 USD
CY2016Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
803728000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
896842000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
916801000 USD
CY2015Q4 us-gaap Prepaid Taxes
PrepaidTaxes
17484000 USD
CY2016Q1 us-gaap Prepaid Taxes
PrepaidTaxes
14548000 USD
CY2015 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
466000 USD
CY2016Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
USD
CY2015Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
21521000 USD
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
4534000 USD
CY2015Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
9469000 USD
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
16807000 USD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3678000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
19935000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
20199000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
69262000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
72010000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
72727000 USD
CY2015Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
192120000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
155211000 USD
CY2016Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
188233000 USD
us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.06
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4123000 shares
CY2015Q1 us-gaap Revenues
Revenues
323945000 USD
CY2016Q1 us-gaap Revenues
Revenues
329357000 USD
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
323945000 USD
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
329357000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4758000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4927000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
191000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
273000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
35.80
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
34.06
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4067000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4055000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4202000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
24.69
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
22.84
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
25.32
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
25.81
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
135000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
126000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
21.23
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
29.51
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2006Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
4050000 shares
CY2007Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5231250 shares
CY2009Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
13716000 shares
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
23466000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3602000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1161000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
24.66
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
27446000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
11030000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
16000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
29.27
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
63500 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.48
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.26
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2016000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1653500 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
23.51
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
27.36
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
14373000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
16012000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
9.00
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y5M
CY2015Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
9469000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
31.91
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2016Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2016Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
186054000 USD
CY2016Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
136000000 USD
CY2016Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
391685 shares
CY2015Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
0 shares
CY2016Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
0 shares
CY2016Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
19864000 shares
CY2016Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
410000 shares
CY2015Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0.00 USD
CY2016Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0.00 USD
CY2016Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
14034000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
660306000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
678404000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
703319000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
660691000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
678663000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
703666000 USD
CY2015Q1 us-gaap Straight Line Rent
StraightLineRent
100000 USD
CY2016Q1 us-gaap Straight Line Rent
StraightLineRent
204000 USD
CY2016Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
35.83
CY2014Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
21300000 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
23570000 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
23962000 shares
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
429719000 USD
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
512579000 USD
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
526613000 USD
CY2014Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
19626000 USD
CY2014Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
21756000 USD
CY2015Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
18143000 USD
CY2015Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2473000 shares
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2061000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62078000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59770000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59605000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57709000 shares
CY2016Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Reporting</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements of Steven Madden, Ltd. and subsidiaries (the &#8220;Company&#8221;) have been prepared in accordance with generally accepted accounting principles in the United States of America (&#8220;GAAP&#8221;) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the &#8220;SEC&#8221;). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair presentation of the financial position of the Company and the results of its operations and cash flows for the periods presented. Certain adjustments were made to prior years' amounts to conform to the </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> presentation. The results of operations for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> month period ended </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the operating results for the full year. These financial statements should be read in conjunction with the financial statements and related disclosures for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> included in the Annual Report of Steven Madden, Ltd. on Form 10-K filed with the SEC on February 26, 2016.</font></div></div>
CY2016Q1 us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Sales Deductions</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company supports retailers&#8217; initiatives to maximize sales of the Company&#8217;s products on the retail floor by subsidizing the co-op advertising programs of such retailers, providing them with inventory markdown allowances and participating in various other marketing initiatives of its major customers. In addition, the Company accepts returns for damaged products for which the Company&#8217;s costs are normally charged back to the responsible third-party factory. Such expenses are reflected in the condensed consolidated financial statements as deductions to arrive at net sales.</font></div></div>
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant areas involving management estimates include allowances for bad debts, returns and customer chargebacks, inventory valuation, valuation of intangible assets, litigation reserves and contingent payment liabilities. The Company provides reserves on trade accounts receivables and factor receivables for future customer chargebacks and markdown allowances, discounts, returns and other miscellaneous compliance-related deductions that relate to the current period sales. The Company evaluates anticipated chargebacks by reviewing several performance indicators of its major customers. These performance indicators, which include retailers&#8217; inventory levels, sell-through rates and gross margin levels, are analyzed by management to estimate the amount of the anticipated customer allowance.</font></div></div>

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