Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net loss attributable to Skechers U.S.A. Inc. $ (5,448) $ (18,108)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Net earnings attributable to non-controlling interest 694 209
Depreciation of property and equipment 20,769 15,088
Amortization of deferred financing costs 475 652
Amortization of intangible assets 453 790
Provision for bad debts and returns 1,707 5,748
Tax benefits from share-based compensation (79) 0
Non-cash share-based compensation 6,650 7,242
Loss on disposal of equipment 7 232
Deferred income taxes (8,748) 75
(Increase) decrease in assets:    
Receivables (58,258) (8,271)
Inventories (31,375) 73,875
Prepaid expenses and other current assets 56,563 (15,973)
Other assets (538) 65
Increase (decrease) in liabilities:    
Accounts payable 54,255 1,871
Accrued expenses 2,731 (11,428)
Net cash provided by operating activities 39,858 52,067
Cash flows from investing activities:    
Capital expenditures (22,588) (92,881)
Net cash used in investing activities (22,588) (92,881)
Cash flows from financing activities:    
Net proceeds from the issuances of stock through employee stock purchase plan and the exercise of stock options 1,349 2,042
Increase in long-term borrowings 0 36,751
Payments on long-term debt (5,030) (9,390)
Increase in short-term borrowings 9,805 27,705
Contribution from non-controlling interest of consolidated entity 0 115
Excess tax benefits from stock-based compensation 0 219
Net cash provided by financing activities 6,124 57,442
Net increase in cash and cash equivalents 23,394 16,628
Effect of exchange rates on cash and cash equivalents (349) 596
Cash and cash equivalents at beginning of the period 351,144 233,558
Cash and cash equivalents at end of the period 374,189 250,782
Cash paid (received) during the period for:    
Interest 5,749 2,439
Income taxes $ (50,572) $ 7,588