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

Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

Acquisition (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Summary of Allocation of Total Consideration

The allocation of the total consideration has been recorded as follows (in thousands):

Cash		$	1,061
Accounts receivable			31,763
Inventory⁽¹⁾			47,890
VAT receivable			12,658
Deferred tax assets			2,180
Property, plant, and equipment			12,531
Reacquired rights intangible assets⁽²⁾			46,100
Customer relationships intangible assets⁽²⁾			3,000
Goodwill			91,563
Total assets acquired			248,746

Accounts payable			25,454
VAT payable			4,721
Deferred tax liability			17,129
Total liabilities assumed			47,304

Non-controlling interest			79,798
Total purchase price		$	121,644

⁽¹⁾	Included a step-up to fair market adjustment of $8.0 million, which was amortized over a period of less than 12 months.

⁽²⁾	Reacquired rights will be amortized over 1 to 7 years, and customer relationships will be amortized over 10 years.