Skechers U.S.A., Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Noncontrolling Interests

Noncontrolling Interests

12 Months Ended

Dec. 31, 2015

Noncontrolling Interest [Abstract]

Noncontrolling Interests

(9)

NONCONTROLLING INTERESTS

The following VIE’s are consolidated into the Company’s consolidated financial statements and the carrying amounts and classification of assets and liabilities were as follows (in thousands):

HF Logistics-SKX, LLC	December 31, 2015		December 31, 2014
Current assets	$	2,111	$	6,812
Noncurrent assets		113,928		118,837
Total assets	$	116,039	$	125,649

Current liabilities	$	2,461	$	78,668
Noncurrent liabilities		69,951		1,194
Total liabilities	$	72,412	$	79,862

Distribution joint ventures ⁽¹⁾	December 31, 2015		December 31, 2014
Current assets	$	154,060	$	94,819
Noncurrent assets		34,782		10,322
Total assets	$	188,842	$	105,141

Current liabilities	$	68,198	$	38,470
Noncurrent liabilities		62		66
Total liabilities	$	68,260	$	38,536

⁽¹⁾

Distribution joint ventures include Skechers China Limited, Skechers Southeast Asia Limited, Skechers Thailand Limited, Skechers Retail India Private Limited, and Skechers South Asia Private Limited.

Noncontrolling interest earnings were $29.1 million, $13.4 million and $6.1 million for the years ended December 31, 2015, 2014 and 2013, respectively, which represents the share of net earnings or loss that is attributable to the Company’s joint venture partners. HF Logistics-SKX, LLC made cash capital distributions of $38.6 million, $3.7 million, and $3.2 million during the years ended December 31, 2015, 2014, and 2013 respectively. Skechers China Limited made capital distributions of $0.5 million and $0.4 million during the years ended December 31, 2015 and 2014. The distribution joint venture partners made cash capital contributions of $2.3 million, $0.5 million and $3.6 million during the years ended December 31, 2015, 2014 and 2013, respectively.