Annual report pursuant to Section 13 and 15(d)

Noncontrolling Interests

v2.4.1.9
Noncontrolling Interests
12 Months Ended
Dec. 31, 2014
Noncontrolling Interest [Abstract]  
Noncontrolling Interests
  (8) NONCONTROLLING INTERESTS

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, 2014      December 31, 2013  

Current assets

   $ 6,812       $ 3,076   

Noncurrent assets

     118,837         129,796   
  

 

 

    

 

 

 

Total assets

$ 125,649    $ 132,872   
  

 

 

    

 

 

 

Current liabilities

$ 78,668    $ 1,835   

Noncurrent liabilities

  1,194      79,389   
  

 

 

    

 

 

 

Total liabilities

$ 79,862    $ 81,224   
  

 

 

    

 

 

 

 

Distribution joint ventures (1)

   December 31, 2014      December 31, 2013  

Current assets

   $ 94,819       $ 49,835   

Noncurrent assets

     10,322         9,209   
  

 

 

    

 

 

 

Total assets

$ 105,141    $ 59,044   
  

 

 

    

 

 

 

Current liabilities

$ 38,470    $ 15,687   

Noncurrent liabilities

  66      32   
  

 

 

    

 

 

 

Total liabilities

$ 38,536    $ 15,719   
  

 

 

    

 

 

 

 

(1)

Distribution joint ventures include Skechers China Limited, Skechers Southeast Asia Limited, Skechers Thailand Limited, Skechers South Asia Private Limited, and Skechers Retail India Private Limited.

Noncontrolling interest earnings was $13.4 million, $6.1 million and $1.0 million for the years ended December 31, 2014, 2013 and 2012, respectively, which represents the share of net earnings or loss that is attributable to the Company’s joint venture partners. HF Logistics-SKX, LLC made cash capital distributions of $3.7 million and $3.2 million during the years ended December 31, 2014 and 2013, respectively. Skechers China Limited made capital distributions of $0.4 million during the year ended December 31, 2014. The distribution joint venture partners made cash capital contributions of $0.5 million, $3.6 million and $3.5 million during the year ended December 31, 2014, 2013 and 2012, respectively.