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The Company And Summary Of Significant Accounting Policies (Tables)
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12 Months Ended |
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Dec. 31, 2012
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| Carrying Amounts and Classification of Assets and Liabilities |
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):
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December 31, 2012
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December 31, 2011 |
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| HF Logistics-SKX, LLC |
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Current assets
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$ |
5,239 |
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$ |
11,400 |
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Noncurrent
assets
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133,235 |
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132,925 |
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Total assets
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$ |
138,474 |
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$ |
144,325 |
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Current
liabilities
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$ |
1,958 |
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$ |
62,076 |
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Noncurrent
liabilities
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80,678 |
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18,297 |
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Total
liabilities
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$ |
82,636 |
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$ |
80,373 |
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December 31, 2012
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December 31, 2011 |
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Distribution joint
ventures (1)
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Current assets
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$ |
34,781 |
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$ |
28,028 |
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Noncurrent
assets
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7,978 |
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7,225 |
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Total assets
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$ |
42,759 |
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$ |
35,253 |
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Current
liabilities
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$ |
13,222 |
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$ |
12,495 |
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Noncurrent
liabilities
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34 |
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73 |
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Total
liabilities
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$ |
13,256 |
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$ |
12,568 |
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| (1) |
Distribution joint ventures include Skechers China Limited,
Skechers Southeast Asia Limited, Skechers Thailand Limited and
Skechers South Asia Private Limited.
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| Summary of Estimated Useful Lives of Property, Plant and Equipment |
Depreciation
and amortization of property, plant and equipment is computed using
the straight-line method based on the following estimated useful
lives:
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Buildings
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20 years |
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Building
improvements
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10 years |
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Furniture, fixtures and
equipment
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5 to 20 years |
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Leasehold
improvements
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Useful life or remaining lease term, whichever is shorter |
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| Schedule of Goodwill and Intangible Assets |
Intangible
assets, which were primarily allocated to the domestic wholesale
segment, as of December 31, 2012 and 2011 are as follows (in
thousands):
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2012 |
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2011 |
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Intellectual
property
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$ |
7,840 |
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$ |
7,840 |
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Goodwill
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1,575 |
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1,575 |
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Less accumulated
amortization
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(6,173 |
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(5,267 |
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Total Intangible
Assets
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$ |
3,242 |
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$ |
4,148 |
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| Reconciliation of Net Earnings (Loss) and Weighted Average Common Shares Outstanding |
The following is a reconciliation of net earnings (loss) and
weighted average common shares outstanding for purposes of
calculating earnings (loss) per share (in thousands):
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Years Ended
December 31, |
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Basic
earnings (loss) per share
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2012 |
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2011 |
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2010 |
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Net earnings
(loss)
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$ |
9,512 |
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$ |
(67,484 |
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$ |
136,148 |
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Weighted average common
shares outstanding
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49,495 |
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48,491 |
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47,433 |
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Basic earnings (loss) per
share
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$ |
0.19 |
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$ |
(1.39 |
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$ |
2.87 |
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Years Ended
December 31, |
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Diluted
earnings (loss) per share
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2012 |
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2011 |
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2010 |
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Net earnings
(loss)
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$ |
9,512 |
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$ |
(67,484 |
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$ |
136,148 |
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Weighted average common
shares outstanding
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49,495 |
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48,491 |
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47,433 |
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Dilutive stock
options
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447 |
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0 |
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1,617 |
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Weighted average common
shares outstanding
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49,942 |
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48,491 |
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49,050 |
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Diluted earnings (loss) per
share
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$ |
0.19 |
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$ |
(1.39 |
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$ |
2.78 |
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