Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Earnings

v3.2.0.727
Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Net sales $ 800,464 $ 587,051 $ 1,568,461 $ 1,133,569
Cost of sales 425,856 317,676 861,313 623,791
Gross profit 374,608 269,375 707,148 509,778
Royalty income 3,630 1,836 5,512 4,858
Operating income 378,238 271,211 712,660 514,636
Operating expenses:        
Selling 64,875 53,839 113,967 90,581
General and administrative 201,021 163,616 398,162 322,139
Operating expenses 265,896 217,455 512,129 412,720
Earnings from operations 112,342 53,756 200,531 101,916
Other income (expense):        
Interest income 157 197 344 300
Interest expense (3,041) (3,656) (5,878) (6,352)
Other, net 2,990 148 (1,771) (934)
Total other income (expense) 106 (3,311) (7,305) (6,986)
Earnings before income tax expense 112,448 50,445 193,226 94,930
Income tax expense 25,383 12,232 44,503 23,669
Net earnings 87,065 38,213 148,723 71,261
Less: Net earnings attributable to non-controlling interests 7,283 3,411 12,861 5,494
Net earnings attributable to Skechers U.S.A., Inc. $ 79,782 $ 34,802 $ 135,862 $ 65,767
Net earnings per share attributable to Skechers U.S.A., Inc.:        
Basic $ 1.57 $ 0.69 $ 2.67 $ 1.30
Diluted $ 1.55 $ 0.68 $ 2.65 $ 1.29
Weighted average shares used in calculating net earnings per share attributable to Skechers U.S.A, Inc.:        
Basic 50,904 50,565 50,855 50,562
Diluted 51,342 50,914 51,259 50,879