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

Quarterly report pursuant to Section 13 or 15(d)

Line of Credit, Short -Term and Long -Term Borrowings

Line of Credit, Short -Term and Long -Term Borrowings

6 Months Ended

Jun. 30, 2012

Line of Credit, Short-Term and Long-Term Borrowings [Abstract]

LINE OF CREDIT, SHORT-TERM AND LONG-TERM BORROWINGS

(7) LINE OF CREDIT, SHORT-TERM AND LONG-TERM BORROWINGS

The Company and its subsidiaries had $4.1 million of outstanding letters of credit and short-term borrowings of $60.2 million as of June 30, 2012.

Long-term debt is as follows (in thousands):


	June 30, 2012		December 31, 2011
Note payable to bank, due in monthly installments of $531.4 (includes principal and interest), fixed rate interest at 3.54%, secured by property, balloon payment of $12,635 due December 2015	$	31,658	$	34,259
Note payable to bank, due in monthly installments of $483.9 (includes principal and interest), fixed rate interest at 3.19%, secured by property, balloon payment of $11,670 due June 2016		31,628		34,005
Loan from HF Logistics I, LLC		18,210		18,297
Capital lease obligations		18		29

Subtotal		81,514		86,590
Less current installments		10,229		10,059

Total long-term debt	$	71,285	$	76,531

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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