| Noncontrolling Interests |
|
|
(12)
|
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 (1)
|
|
December 31, 2019
|
|
|
December 31, 2018
|
|
|
Current assets
|
|
$
|
5,297
|
|
|
$
|
2,121
|
|
|
Non-current assets
|
|
|
104,527
|
|
|
|
98,148
|
|
|
Total assets
|
|
$
|
109,824
|
|
|
$
|
100,269
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities
|
|
$
|
64,600
|
|
|
$
|
2,738
|
|
|
Non-current liabilities
|
|
|
1,009
|
|
|
|
64,702
|
|
|
Total liabilities
|
|
$
|
65,609
|
|
|
$
|
67,440
|
|
|
Product distribution joint ventures
|
|
December 31, 2019 (2)
|
|
|
December 31, 2018 (3)
|
|
|
Current assets
|
|
$
|
747,668
|
|
|
$
|
540,768
|
|
|
Non-current assets
|
|
|
325,283
|
|
|
|
128,250
|
|
|
Total assets
|
|
$
|
1,072,951
|
|
|
$
|
669,018
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities
|
|
$
|
430,282
|
|
|
$
|
294,640
|
|
|
Non-current liabilities
|
|
|
135,903
|
|
|
|
26,444
|
|
|
Total liabilities
|
|
$
|
566,185
|
|
|
$
|
321,084
|
|
|
(1)
|
Includes HF Logistics-SKX, LLC and HF Logistics-SKX, T2, LLC.
|
|
(2)
|
Distribution joint ventures include Skechers Footwear Ltd. (Israel), Skechers China Limited, Skechers Korea Limited, Skechers Southeast Asia Limited, Skechers (Thailand) Limited, and Manhattan SKMX, S. de R.L. de C.V. (Mexico).
|
|
(3)
|
Distribution joint ventures include Skechers Footwear Ltd. (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,
|
|
|
|
|
2019
|
|
|
2018
|
|
|
2017
|
|
|
Net earnings attributable to non-controlling
interests
|
|
$
|
80,692
|
|
|
$
|
70,232
|
|
|
$
|
55,914
|
|
|
Distributions to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HF Logistics-SKX, LLC
|
|
|
3,784
|
|
|
|
4,374
|
|
|
|
3,787
|
|
|
Skechers China Limited
|
|
|
32,245
|
|
|
|
19,915
|
|
|
|
20,620
|
|
|
Skechers Southeast Asia Limited
|
|
|
2,028
|
|
|
|
2,025
|
|
|
|
1,347
|
|
|
Skechers Hong Kong Limited
|
|
|
618
|
|
|
|
618
|
|
|
|
199
|
|
|
India distribution joint ventures
|
|
|
—
|
|
|
|
68
|
|
|
|
—
|
|
|
Contributions from:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Skechers Korea Co., Ltd.
|
|
|
6,594
|
|
|
|
—
|
|
|
|
—
|
|
|
Skechers Footwear Ltd. (Israel)
|
|
|
—
|
|
|
|
—
|
|
|
|
46
|
|
|
HF Logistics-SKX, LLC
|
|
|
7,565
|
|
|
|
—
|
|
|
|
—
|
|
|
Manhattan SKMX, S. de R.L. de C.V.
|
|
|
22,776
|
|
|
|
—
|
|
|
|
—
|
|
|