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General (Policies)
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6 Months Ended |
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Jun. 30, 2011
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| General Policies [Abstract] | |
| Basis of Presentation |
Basis of Presentation
The accompanying condensed consolidated financial statements of Skechers U.S.A., Inc. (the
“Company”) have been prepared in accordance with accounting principles generally accepted in the
United States of America for interim financial information and in accordance with the instructions
to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include certain footnotes
and financial presentations normally required under accounting principles generally accepted in the
United States of America for complete financial reporting. The interim financial information is
unaudited, but reflects all normal adjustments and accruals which are, in the opinion of
management, considered necessary to provide a fair presentation for the interim periods presented.
The accompanying condensed consolidated financial statements should be read in conjunction with the
audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2010.
The results of operations for the three and six months ended June 30, 2011 are not necessarily
indicative of the results to be expected for the entire fiscal year ending December 31, 2011.
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| Use of Estimates |
Use of Estimates
The preparation of the condensed consolidated financial statements, in conformity with
accounting principles generally accepted in the United States of America, requires management to
make estimates and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenses during the reporting periods. Actual results could differ
from those estimates.
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| Non-controlling interests |
Non-controlling interests
The Company has interests in certain joint ventures which are consolidated into its financial
statements. Non-controlling interest was a loss of $0.1 million and income of $0.1 million for the
three months ended June 30, 2011 and 2010, respectively, which represents the share of net earnings
or loss that is attributable to our joint venture partners. Non-controlling interest was income of
$0.2 million and a loss of $0.1 million for the six months ended June 30, 2011 and 2010,
respectively.
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| Recent Accounting Pronouncements |
Recent Accounting Pronouncements
In June 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards
Update No. 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income,” (“ASU
2011-05”). ASU 2011-05 eliminates the option to report other comprehensive income and its
components in the statement of changes in equity. ASU 2011-05 requires that all non-owner changes
in stockholders’ equity be presented in either a single continuous statement of comprehensive
income or in two separate but consecutive statements. This new guidance is to be applied
retrospectively. ASU 2011-05 is effective for annual periods beginning after December 15, 2011.
We do not expect that the adoption of this standard update will have a material impact on the
Company’s consolidated financial statements.
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