Annual report pursuant to Section 13 and 15(d)

Noncontrolling Interests

v3.10.0.1
Noncontrolling Interests
12 Months Ended
Dec. 31, 2018
Noncontrolling Interest [Abstract]  
Noncontrolling Interests

 

(11)

NONCONTROLLING INTERESTS

 

The following VIEs 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, 2018

 

 

December 31, 2017

 

Current assets

 

$

2,121

 

 

$

1,540

 

Non-current assets

 

 

98,148

 

 

 

103,407

 

Total assets

 

$

100,269

 

 

$

104,947

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

$

2,738

 

 

$

2,718

 

Non-current liabilities

 

 

64,702

 

 

 

66,367

 

Total liabilities

 

$

67,440

 

 

$

69,085

 

 

Distribution joint ventures (1)

 

December 31, 2018

 

 

December 31, 2017

 

Current assets

 

$

540,768

 

 

$

389,687

 

Non-current assets

 

 

128,250

 

 

 

90,972

 

Total assets

 

$

669,018

 

 

$

480,659

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

$

294,640

 

 

$

188,700

 

Non-current liabilities

 

 

26,444

 

 

 

9,201

 

Total liabilities

 

$

321,084

 

 

$

197,901

 

 

 

(1)

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

The following is a summary of net earnings attributable to, distributions to and contributions from non-controlling interests (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Net earnings attributable to non-controlling

   interests

 

$

70,232

 

 

$

55,914

 

 

$

41,866

 

Distributions to:

 

 

 

 

 

 

 

 

 

 

 

 

HF Logistics-SKX, LLC

 

 

4,374

 

 

 

3,787

 

 

 

4,091

 

Skechers China Limited

 

 

19,915

 

 

 

20,620

 

 

 

11,922

 

Skechers Southeast Asia Limited

 

 

2,025

 

 

 

1,347

 

 

 

1,280

 

Skechers Hong Kong Limited

 

 

618

 

 

 

199

 

 

 

451

 

India distribution joint ventures

 

 

68

 

 

 

 

 

 

 

Contributions from:

 

 

 

 

 

 

 

 

 

 

 

 

India distribution joint ventures

 

 

 

 

 

 

 

 

2,943

 

Skechers Korea Co., Ltd.

 

 

 

 

 

 

 

 

8,273

 

Skechers Footwear Ltd. (Israel)

 

 

 

 

 

46

 

 

 

2,764