Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.20.2
Goodwill and Other Intangible Assets
9 Months Ended
Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

(3)

GOODWILL AND OTHER INTANGIBLE ASSETS

The Company evaluated the impairment of goodwill and other intangible assets. Based on the evaluation performed, no impairment loss was recorded for the goodwill and other intangible assets during the quarter ended September 30, 2020. As of September 30, 2020 and December 31, 2019, the net carrying amount of goodwill and other intangible assets were $135.0 million and $72.3 million.

 

 

 

September 30, 2020

 

 

December 31, 2019

 

Goodwill

 

 

 

 

 

 

 

 

Skechers Mexico

 

$

91,563

 

 

$

69,836

 

Others

 

 

1,934

 

 

 

1,576

 

Total goodwill

 

 

93,497

 

 

 

71,412

 

 

 

 

 

 

 

 

 

 

Other intangible assets

 

 

 

 

 

 

 

 

Reacquired rights

 

 

46,100

 

 

 

641

 

Customer relationships and other acquisition related

 

 

5,478

 

 

 

 

Others

 

 

13,441

 

 

 

13,290

 

Total gross carrying amount

 

 

65,019

 

 

 

13,931

 

Less: Accumulated amortization

 

 

(23,490

)

 

 

(13,066

)

Total other intangible assets, net

 

 

41,529

 

 

 

865

 

Total

 

$

135,026

 

 

$

72,277

 

 

The expected future amortization expense for other intangible assets were as follows (in thousands):

 

 

 

September 30, 2020

 

2020 remaining months

 

$

1,720

 

2021

 

 

6,871

 

2022

 

 

6,871

 

2023

 

 

6,871

 

2024

 

 

6,871

 

Thereafter

 

 

12,325

 

Total

 

$

41,529