Annual report pursuant to Section 13 and 15(d)

The Company and Summary Of Significant Accounting Policies (Tables)

v2.4.0.8
The Company and Summary Of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Carrying Amounts and Classification of Assets and Liabilities for VIEs

The following VIE’s 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-SKX, LLC

   December 31, 2013      December 31, 2012  

Current assets

   $ 3,076       $ 5,239   

Noncurrent assets

     129,796         133,235   
  

 

 

    

 

 

 

Total assets

   $ 132,872       $ 138,474   
  

 

 

    

 

 

 

Current liabilities

   $ 1,835       $ 1,958   

Noncurrent liabilities

     79,389         80,678   
  

 

 

    

 

 

 

Total liabilities

   $ 81,224       $ 82,636   
  

 

 

    

 

 

 

 

Distribution joint ventures (1)

   December 31, 2013      December 31, 2012  

Current assets

   $   49,835       $ 34,781   

Noncurrent assets

     9,209         7,978   
  

 

 

    

 

 

 

Total assets

   $ 59,044       $ 42,759   
  

 

 

    

 

 

 

Current liabilities

   $ 15,687       $ 13,222   

Noncurrent liabilities

     32         34   
  

 

 

    

 

 

 

Total liabilities

   $ 15,719       $ 13,256   
  

 

 

    

 

 

 

 

(1) Distribution joint ventures include Skechers China Limited, Skechers Southeast Asia Limited, Skechers Thailand Limited and Skechers South Asia Private Limited.
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:

 

Buildings

   20 years

Building improvements

   10 years

Furniture, fixtures and equipment

   5 to 20 years

Leasehold improvements

   Useful life or remaining lease term, whichever is shorter
Schedule of Goodwill and Intangible Assets

Intangible assets, which were primarily allocated to the domestic wholesale segment, as of December 31, 2013 and 2012 are as follows (in thousands):

 

     2013     2012  

Intellectual property

   $ 7,887      $ 7,840   

Goodwill

     1,575        1,575   

Less accumulated amortization

     (7,085     (6,173
  

 

 

   

 

 

 

Total intangible assets

   $ 2,377      $ 3,242   
  

 

 

   

 

 

 
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):

 

     Years Ended December 31,  

Basic earnings (loss) per share

   2013      2012      2011  

Net earnings (loss)

   $ 54,788       $ 9,512       $ (67,484

Weighted average common shares outstanding

     50,363         49,495         48,491   

Basic earnings (loss) per share

   $ 1.09       $ 0.19       $ (1.39

 

     Years Ended December 31,  

Diluted earnings (loss) per share

   2013      2012      2011  

Net earnings (loss)

   $ 54,788       $ 9,512       $ (67,484

Weighted average common shares outstanding

     50,363         49,495         48,491   

Dilutive stock options

     200         447         0   
  

 

 

    

 

 

    

 

 

 

Weighted average common shares outstanding

     50,563         49,942         48,491   
  

 

 

    

 

 

    

 

 

 

Diluted earnings (loss) per share

   $ 1.08       $ 0.19       $ (1.39