Annual report pursuant to Section 13 and 15(d)

Noncontrolling Interests (Tables)

v3.19.3.a.u2
Noncontrolling Interests (Tables)
12 Months Ended
Dec. 31, 2019
Noncontrolling Interest [Abstract]  
Carrying Amounts and Classification of Assets and Liabilities for VIEs

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.

Net Earnings Attributable to Non-controlling Interest, Distributions and Contributions

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