Document_and_Entity_Informatio
Document and Entity Information (USD $) | 9 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Sep. 30, 2013 | Jul. 31, 2013 | Sep. 30, 2012 |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'NU SKIN ENTERPRISES INC | ' | ' |
Entity Central Index Key | '0001021561 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $2.70 |
Entity Common Stock, Shares Outstanding | ' | 59,482,398 | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $553,499 | $320,025 |
Current investments | 12,099 | 13,378 |
Accounts receivable | 50,506 | 36,850 |
Inventories, net | 254,187 | 135,874 |
Prepaid expenses and other | 143,066 | 93,276 |
Total current assets | 1,013,357 | 599,403 |
Property and equipment, net | 352,709 | 229,787 |
Goodwill | 112,446 | 112,446 |
Other intangible assets, net | 85,901 | 92,518 |
Other assets | 124,074 | 118,753 |
Total assets | 1,688,487 | 1,152,907 |
Current liabilities: | ' | ' |
Accounts payable | 67,516 | 47,882 |
Accrued expenses | 572,432 | 233,202 |
Current portion of long-term debt | 68,562 | 39,019 |
Total current liabilities | 708,510 | 320,103 |
Long-term debt | 120,606 | 154,963 |
Other liabilities | 116,942 | 87,229 |
Total liabilities | 946,058 | 562,295 |
Commitments and contingencies (Note 9) | ' | ' |
Stockholders' equity: | ' | ' |
Class A common stock - 500 million shares authorized, $.001 par value, 90.6 million shares issued | 91 | 91 |
Additional paid-in capital | 357,701 | 317,293 |
Treasury stock, at cost - 31.7 million and 32.2 million shares | -788,128 | -714,853 |
Accumulated other comprehensive loss | -53,864 | -51,822 |
Retained earnings | 1,226,629 | 1,039,903 |
Total stockholders' equity | 742,429 | 590,612 |
Total liabilities and stockholders' equity | $1,688,487 | $1,152,907 |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) Parenthetical (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Stockholders' equity: | ' | ' |
Common stock - authorized (in shares) | 500 | 500 |
Common stock - par value (in dollars per share) | $0.00 | $0.00 |
Common stock - issued (in shares) | 90.6 | 90.6 |
Treasury stock, at cost (in shares) | 32.1 | 32.2 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data in Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidated Statements of Income (Unaudited) [Abstract] | ' | ' | ' | ' |
Revenue | $927,612 | $526,182 | $2,160,633 | $1,581,419 |
Cost of sales | 139,816 | 86,768 | 341,134 | 258,108 |
Gross profit | 787,796 | 439,414 | 1,819,499 | 1,323,311 |
Operating expenses: | ' | ' | ' | ' |
Selling expenses | 456,975 | 235,701 | 1,007,627 | 705,599 |
General and administrative expenses | 162,546 | 121,346 | 446,355 | 365,770 |
Total operating expenses | 619,521 | 357,047 | 1,453,982 | 1,071,369 |
Operating income | 168,275 | 82,367 | 365,517 | 251,942 |
Other income (expense), net | 504 | 1,239 | -571 | 1,505 |
Income before provision for income taxes | 168,779 | 83,606 | 364,946 | 253,447 |
Provision for income taxes | 57,879 | 29,430 | 125,329 | 91,035 |
Net income | $110,900 | $54,176 | $239,617 | $162,412 |
Net income per share (Note 2): | ' | ' | ' | ' |
Basic (in dollars per share) | $1.89 | $0.91 | $4.09 | $2.65 |
Diluted (in dollars per share) | $1.80 | $0.87 | $3.91 | $2.55 |
Weighted-average common shares outstanding (000s): | ' | ' | ' | ' |
Basic (in shares) | 58,661 | 59,780 | 58,544 | 61,265 |
Diluted (in shares) | 61,508 | 62,060 | 61,234 | 63,742 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidated Statements of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net Income (Loss) Attributable to Parent | $110,900 | $54,176 | $239,617 | $162,412 |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' |
Foreign currency translation adjustment | 2,463 | 1,372 | -484 | 2,640 |
Net unrealized gains/(losses) on foreign currency cash flow hedges | -130 | -544 | 1,431 | 1,416 |
Less: Reclassification adjustment for realized losses/gains in current earnings | -924 | -78 | -2,988 | 52 |
Total | 1,409 | 750 | -2,041 | 4,108 |
Comprehensive Income | $112,309 | $54,926 | $237,576 | $166,520 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $239,617 | $162,412 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 24,026 | 25,228 |
Foreign currency (gains)/losses | 1,663 | -224 |
Stock-based compensation | 23,004 | 16,256 |
Deferred taxes | 3,163 | 2,026 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -16,073 | -10,435 |
Inventories, net | -120,153 | -23,492 |
Prepaid expenses and other | -42,059 | 3,515 |
Other assets | -13,237 | -10,419 |
Accounts payable | 21,652 | 8,306 |
Accrued expenses | 355,190 | 57,725 |
Other liabilities | 7,350 | 8,352 |
Net cash provided by operating activities | 484,143 | 239,250 |
Cash flows from investing activities: | ' | ' |
Purchases of property and equipment | -143,068 | -64,467 |
Proceeds of investment sales | 13,148 | 16,999 |
Purchases of investments | -11,869 | -15,075 |
Net cash used in investing activities | -141,789 | -62,543 |
Cash flows from financing activities: | ' | ' |
Exercise of employee stock options | 18,361 | 2,591 |
Payment of debt | -23,902 | -26,279 |
Payment of cash dividends | -52,891 | -36,626 |
Income tax benefit of options exercised | 16,687 | 6,845 |
Proceeds from debt | 35,000 | 100,006 |
Repurchases of shares of common stock | -90,866 | -179,608 |
Net cash used in financing activities | -97,611 | -133,071 |
Effect of exchange rate changes on cash | -11,269 | 5,319 |
Net increase in cash and cash equivalents | 233,474 | 48,955 |
Cash and cash equivalents, beginning of period | 320,025 | 272,974 |
Cash and cash equivalents, end of period | $553,499 | $321,929 |
THE_COMPANY
THE COMPANY | 9 Months Ended | |
Sep. 30, 2013 | ||
THE COMPANY [Abstract] | ' | |
THE COMPANY | ' | |
1 | THE COMPANY | |
Nu Skin Enterprises, Inc. (the "Company") is a leading, global direct selling company that develops and distributes premium-quality, innovative personal care products and nutritional supplements that are sold worldwide under the Nu Skin and Pharmanex brands and a small number of other products and services. The Company reports revenue from five geographic regions: North Asia, which consists of Japan and South Korea; Greater China, which consists of Mainland China, Hong Kong, Macau and Taiwan; South Asia/Pacific, which consists of Australia, Brunei, French Polynesia, Indonesia, Malaysia, New Caledonia, New Zealand, the Philippines, Singapore, Thailand and Vietnam; Americas, which consists of the United States, Canada and Latin America; and EMEA, which consists of several markets in Europe as well as Israel, Russia and South Africa (the Company's subsidiaries operating in these countries are collectively referred to as the "Subsidiaries"). | ||
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The unaudited consolidated financial statements include the accounts of the Company and its Subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement of the Company's financial information as of September 30, 2013, and for the three- and nine-month periods ended September 30, 2013 and 2012. The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the fiscal year. For further information, refer to the consolidated financial statements and accompanying footnotes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012. |
NET_INCOME_PER_SHARE
NET INCOME PER SHARE | 9 Months Ended | |
Sep. 30, 2013 | ||
NET INCOME PER SHARE [Abstract] | ' | |
NET INCOME PER SHARE | ' | |
2 | NET INCOME PER SHARE | |
Net income per share is computed based on the weighted-average number of common shares outstanding during the periods presented. Additionally, diluted earnings per share data gives effect to all potentially dilutive common shares that were outstanding during the periods presented. For the three-month periods ended September 30, 2013 and 2012, other stock options totaling 1.6 million and 0.2 million, respectively, and for the nine-month periods ended September 30, 2013 and 2012, other stock options totaling 0.8 million and 0.1 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive. |
DIVIDENDS_PER_SHARE
DIVIDENDS PER SHARE | 9 Months Ended | |
Sep. 30, 2013 | ||
DIVIDENDS PER SHARE [Abstract] | ' | |
DIVIDENDS PER SHARE | ' | |
3 | DIVIDENDS PER SHARE | |
In February, May and July 2013, the Company's board of directors declared quarterly cash dividends of $0.30 per share for all shares of Class A common stock. These quarterly cash dividends totaling $17.5 million, $17.6 million and $17.8 million were paid on March 13, 2013, June 12, 2013 and September 11, 2013, to stockholders of record on February 22, 2013, May 24, 2013 and August 23, 2013. In October 2013, the Company's board of directors declared a quarterly cash dividend of $0.30 per share to be paid December 4, 2013 to stockholders of record on November 22, 2013. | ||
-5- | ||
NU SKIN ENTERPRISES, INC. | ||
Notes to Consolidated Financial Statements | ||
DERIVATIVE_FINANCIAL_INSTRUMEN
DERIVATIVE FINANCIAL INSTRUMENTS | 9 Months Ended | |
Sep. 30, 2013 | ||
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract] | ' | |
DERIVATIVE FINANCIAL INSTRUMENTS | ' | |
4 | DERIVATIVE FINANCIAL INSTRUMENTS | |
The Company held mark-to-market forward contracts designated as foreign currency cash flow hedges with notional amounts totaling 3.0 billion Japanese yen and 6.0 million euros ($30.5 million and $8.1 million, respectively) as of September 30, 2013 and 1.9 billion Japanese yen ($21.9 million) and no euros as of December 31, 2012 to hedge forecasted foreign-currency-denominated intercompany transactions. | ||
The contracts held at September 30, 2013 have maturities through September 30, 2014 and accordingly, all unrealized gains and losses on foreign currency cash flow hedges included in accumulated other comprehensive income will be recognized in current earnings over the next 12 months. The pre-tax net losses/gains on foreign currency cash flow hedges reclassified from accumulated other comprehensive income to revenue were $1.4 million and $4.7 million for the three- and nine-month periods ended September 30, 2013 and were immaterial for the three- and nine-month periods ended September 30, 2012. The corresponding tax effects of these transactions were recorded in provision for income tax expense. As of September 30, 2013 and December 31, 2012, there were $0.3 million and $1.9 million of unrealized gains included in accumulated other comprehensive income related to foreign currency cash flow hedges. The remaining $53.6 million and $49.9 million as of September 30, 2013 and December 31, 2012, respectively, in accumulated other comprehensive income are related to cumulative translation adjustments. |
REPURCHASES_OF_COMMON_STOCK
REPURCHASES OF COMMON STOCK | 9 Months Ended | |
Sep. 30, 2013 | ||
REPURCHASES OF COMMON STOCK [Abstract] | ' | |
REPURCHASES OF COMMON STOCK | ' | |
5 | REPURCHASES OF COMMON STOCK | |
During the three- and nine-month periods ended September 30, 2013, the Company repurchased approximately 0.9 and 1.3 million shares of its Class A common stock under its open market repurchase plan for approximately $76.3 million and $90.9 million, respectively. During the three- and nine-month periods ended September 30, 2012, the Company repurchased approximately 1.5 million and 4.1 million shares of its Class A common stock under its open market repurchase plan for approximately $66.3 million and $179.6 million, respectively. In July 2013, the Company's board of directors authorized a $400.0 million extension of the Company's ongoing share repurchase authorization. At September 30, 2013, $444.5 million was available for repurchases under the stock repurchase program. |
SEGMENT_INFORMATION
SEGMENT INFORMATION | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ||||||||||||||||
SEGMENT INFORMATION | ' | ||||||||||||||||
6 | SEGMENT INFORMATION | ||||||||||||||||
The Company operates in a single operating segment by selling products to a global network of independent distributors that operates in a seamless manner from market to market, except for its operations in Mainland China. In Mainland China, the Company utilizes an employed sales force and contractual sales promoters to sell products through its stores, and independent direct sellers who can sell away from the Company's stores where the Company has obtained a direct sales license. Selling expenses are the Company's largest expense comprised of the commissions paid to its worldwide independent distributors as well as remuneration to its sales force in Mainland China. The Company manages its business primarily by managing its global distributors. The Company does not use profitability reports on a regional or divisional basis for making business decisions. However, the Company does report revenue in five geographic regions: Greater China, North Asia, South Asia/Pacific, Americas and EMEA. | |||||||||||||||||
-6- | |||||||||||||||||
NU SKIN ENTERPRISES, INC. | |||||||||||||||||
Notes to Consolidated Financial Statements | |||||||||||||||||
Revenue generated in each of these regions is set forth below (U.S. dollars in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
Revenue: | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Greater China | $ | 269,146 | $ | 199,728 | $ | 444,852 | $ | 292,339 | |||||||||
North Asia | 196,757 | 177,695 | 384,950 | 359,895 | |||||||||||||
South Asia/Pacific | 85,916 | 98,344 | 153,158 | 175,665 | |||||||||||||
Americas | 84,289 | 71,766 | 160,830 | 138,106 | |||||||||||||
EMEA | 46,819 | 45,702 | 89,231 | 89,232 | |||||||||||||
Totals | $ | 682,927 | $ | 593,235 | $ | 1,233,021 | $ | 1,055,237 | |||||||||
Revenue generated by each of the Company's product lines is set forth below (U.S. dollars in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
Revenue: | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Nu Skin | $ | 417,483 | $ | 295,068 | $ | 743,669 | $ | 544,583 | |||||||||
Pharmanex | 264,198 | 296,292 | 486,592 | 506,597 | |||||||||||||
Other | 1,246 | 1,875 | 2,760 | 4,057 | |||||||||||||
Totals | $ | 682,927 | $ | 593,235 | $ | 1,233,021 | $ | 1,055,237 | |||||||||
Additional information as to the Company's operations in its most significant geographic areas is set forth below (U.S. dollars in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
Revenue: | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Mainland China | $ | 197,609 | $ | 57,299 | $ | 321,662 | $ | 108,137 | |||||||||
Japan | 98,869 | 115,615 | 205,551 | 225,679 | |||||||||||||
South Korea | 97,888 | 62,080 | 179,399 | 134,216 | |||||||||||||
United States | 62,350 | 57,485 | 120,112 | 111,401 | |||||||||||||
Europe | 41,430 | 40,100 | 78,551 | 77,842 | |||||||||||||
Long-lived assets: | 30-Sep-13 | 31-Dec-12 | |||||||||||||||
Mainland China | $ | 49,150 | $ | 30,199 | |||||||||||||
Japan | 7,235 | 8,441 | |||||||||||||||
South Korea | 13,135 | 14,030 | |||||||||||||||
United States | 222,172 | 163,137 | |||||||||||||||
Europe | 2,584 | 2,622 | |||||||||||||||
-7- | |||||||||||||||||
NU SKIN ENTERPRISES, INC. | |||||||||||||||||
Notes to Consolidated Financial Statements | |||||||||||||||||
DEFERRED_TAX_ASSETS_AND_LIABIL
DEFERRED TAX ASSETS AND LIABILITIES | 9 Months Ended | |
Sep. 30, 2013 | ||
DEFERRED TAX ASSETS AND LIABILITIES [Abstract] | ' | |
DEFERRED TAX ASSETS AND LIABILITIES | ' | |
7 | DEFERRED TAX ASSETS AND LIABILITIES | |
The Company accounts for income taxes in accordance with the Income Taxes Topic of the Financial Accounting Standards Codification. These standards establish financial accounting and reporting standards for the effects of income taxes that result from an enterprise's activities during the current and preceding years. The Company takes an asset and liability approach for financial accounting and reporting of income taxes. The Company pays income taxes in many foreign jurisdictions based on the profits realized in those jurisdictions, which can be significantly impacted by terms of intercompany transactions between the Company and its foreign affiliates. Deferred tax assets and liabilities are created in this process. As of September 30, 2013 the Company had net deferred tax assets of $34.5 million. The Company nets these deferred tax assets and deferred tax liabilities by jurisdiction. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be ultimately realized. | ||
The Company evaluates its indefinite reinvestment assertions with respect to foreign earnings for each quarter and except for certain earnings the Company intends to reinvest indefinitely, accrues for the U.S. federal and foreign income tax applicable to the earnings. During the first half of 2013, the Company determined that $40.0 million of its non-US subsidiaries' earnings will be indefinitely reinvested. The Company intends to utilize the offshore earnings to fund foreign investments, specifically, capital expenditures. Undistributed earnings that the Company will indefinitely reinvest, and for which no income taxes have been provided, aggregate to $50.0 million and $10.0 million at September 30, 2013 and December 31, 2012, respectively. |
UNCERTAIN_TAX_POSITIONS
UNCERTAIN TAX POSITIONS | 9 Months Ended | |
Sep. 30, 2013 | ||
UNCERTAIN TAX POSITIONS [Abstract] | ' | |
UNCERTAIN TAX POSITIONS | ' | |
8 | UNCERTAIN TAX POSITIONS | |
The Company files income tax returns in the U.S. federal jurisdiction, and in various state and foreign jurisdictions. In 2011, the Company entered into a closing agreement with the United States Internal Revenue Service (the "IRS") for all adjustments for the 2005 through 2008 tax years. As a result of entering into the closing agreement, the Company is no longer subject to tax examinations from the IRS for years before 2009. With a few exceptions, the Company is no longer subject to state and local income tax examination by tax authorities for the years before 2005. In 2009, the Company entered into a voluntary program with the IRS called Compliance Assurance Process ("CAP"). The objective of CAP is to contemporaneously work with the IRS to achieve federal tax compliance and resolve all or most of the issues prior to filing of the tax return. The Company has elected to participate in the CAP program for 2013 and may elect to continue participating in CAP for future tax years; the Company may withdraw from the program at any time. In major foreign jurisdictions, the Company is no longer subject to income tax examinations for years before 2006. Along with the IRS examination, the Company is currently under examination in certain foreign jurisdictions; however, the outcomes of those reviews are not yet determinable. | ||
The Company's unrecognized tax benefits relate to multiple foreign and domestic jurisdictions. Due to potential increases in unrecognized tax benefits from the multiple jurisdictions in which the Company operates, as well as the expiration of various statutes of limitation, it is reasonably possible that the Company's gross unrecognized tax benefits, net of foreign currency adjustments, may decrease within the next 12 months by a range of approximately $2 to $4 million. | ||
-8- | ||
NU SKIN ENTERPRISES, INC. | ||
Notes to Consolidated Financial Statements | ||
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended | |
Sep. 30, 2013 | ||
COMMITMENTS AND CONTINGENCIES [Abstract] | ' | |
COMMITMENTS AND CONTINGENCIES | ' | |
9 | COMMITMENTS AND CONTINGENCIES | |
The Company is subject to governmental regulations pertaining to product formulation, labeling and packaging, product claims and advertising and to the Company's direct selling system. The Company is also subject to the jurisdiction of numerous foreign tax and customs authorities. Any assertions or determination that either the Company or the Company's distributors is not in compliance with existing statutes, laws, rules or regulations could have a material adverse effect on the Company's operations. In addition, in any country or jurisdiction, the adoption of new statutes, laws, rules or regulations or changes in the interpretation of existing statutes, laws, rules or regulations could have a material adverse effect on the Company and its operations. Although management believes that the Company is in compliance in all material respects with the statutes, laws, rules and regulations of every jurisdiction in which it operates, no assurance can be given that the Company's compliance with applicable statutes, laws, rules and regulations will not be challenged by foreign authorities or that such challenges will not have a material adverse effect on the Company's financial position or results of operations or cash flows. The Company and its Subsidiaries are defendants in litigation and proceedings involving various matters. Except as noted below, in the opinion of the Company's management, based upon advice of its counsel handling such litigation and proceedings, adverse outcomes, if any, will not likely result in a material effect on the Company's consolidated financial condition, results of operations or cash flows. | ||
The Company is subject to regular audits by federal, state and foreign tax authorities. These audits may result in additional tax liabilities. The Company believes it has appropriately provided for income taxes for all years. Several factors drive the calculation of its tax reserves. Some of these factors include: (i) the expiration of various statutes of limitations; (ii) changes in tax law and regulations; (iii) issuance of tax rulings; and (iv) settlements with tax authorities. Changes in any of these factors may result in adjustments to the Company's reserves, which would impact its reported financial results. | ||
-9- | ||
NU SKIN ENTERPRISES, INC. | ||
Notes to Consolidated Financial Statements | ||
The Company is currently involved in a dispute with customs authorities in Japan related to additional customs assessments on several of the Company's Pharmanex nutritional products made by Yokohama Customs for the period of October 2006 through September 2009 in connection with post-importation audits, as well as the disputed portion of the Company's import duties from October 2009 to the present, which the Company has or will hold in bond or pay under protest. This dispute is separate and distinct from the dispute related to customs assessments on certain of the Company's products imported into Japan during the period of October 2002 through July 2005. The aggregate amount of these assessments and disputed duties was approximately 4.3 billion Japanese yen as of September 30, 2013 (approximately $44.1 million), net of any recovery of consumption taxes. Additional assessments related to any prior period would be barred by applicable statutes of limitations. The issue in this case is whether a United States entity utilizing a commissionaire agent in Japan to import its products can use the manufacturer's invoice or must use another valuation method, and, if an alternative method must be used, what the allowable deductions would be in determining the proper valuation. Following the Company's review of the assessments and after consulting with the Company's legal and customs advisors, the Company believes that the additional assessments are improper and are not supported by applicable customs laws. The Company filed letters of protest with Yokohama Customs, which were rejected. The Company then appealed the matter to the Ministry of Finance in Japan. In the second quarter of 2011, the Ministry of Finance in Japan denied the Company's administrative appeal. The Company disagrees with the Ministry of Finance's administrative decision. The Company is now pursuing the matter in Tokyo District Court, which the Company believes will provide a more independent determination of the matter. In addition, the Company is currently required to post a bond or make a deposit equal to the difference between the Company's declared duties and the amount the customs authorities have determined the Company should be paying on all current imports. Because the Company believes that the assessment of higher duties by the customs authorities is an improper application of the regulations, the Company is currently expensing the portion of the duties the Company believes is supported under applicable customs law, and recording the additional deposit or payment as a receivable within long-term assets on its consolidated financial statements. If the Company is unsuccessful in recovering the amounts assessed and paid, the Company will record a non-cash expense for the full amount of the disputed assessments. The Company anticipates that additional disputed duties will be reduced going forward as the Company now purchases a majority of the affected products in Japan from a Japanese company that purchases and imports the products from the manufacturer. | ||
-10- | ||
NU SKIN ENTERPRISES, INC. | ||
Notes to Consolidated Financial Statements | ||
LONG_TERM_DEBT
LONG TERM DEBT | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
LONG TERM DEBT [Abstract] | ' | ||||||||||
LONG TERM DEBT | ' | ||||||||||
10 | LONG-TERM DEBT | ||||||||||
The Company currently has debt pursuant to various credit facilities and other borrowings. The Company's book value for both the individual and consolidated debt included in the table below approximates fair value. The estimated fair value of the Company's debt is based on interest rates available for debt with similar terms and remaining maturities. The Company has classified these instruments as Level 2 in the fair value hierarchy. The following table summarizes the Company's long-term debt arrangements: | |||||||||||
Facility or | Original Principal Amount | Balance as of | Balance as of | Interest Rate | Repayment terms | ||||||
Arrangement | September 30, 2013(1) | December 31, 2012 | |||||||||
Multi-currency uncommitted shelf facility: | |||||||||||
U.S. dollar denominated: | $40.0 million | $ | 17.1 million | $22.9 million | 6.20% | Notes due July 2016 with annual principal payments that began in July 2010. | |||||
$20.0 million | $11.4 million | $14.3 million | 6.20% | Notes due January 2017 with annual principal payments that began in January 2011. | |||||||
Japanese yen denominated: | 3.1 billion yen | 0.4 billion yen ($4.6 million as of September 30, 2013) | 0.9 billion yen ($10.2 million as of December 31, 2012) | 1.70% | Notes due April 2014 with annual principal payments that began in April 2008. | ||||||
2.3 billion yen | 1.3 billion yen ($13.2 million as of September 30, 2013) | 1.6 billion yen ($18.7 million as of December 31, 2012) | 2.60% | Notes due September 2017 with annual principal payments that began in September 2011. | |||||||
2.2 billion yen | 1.2 billion yen ($12.6 million as of September 30, 2013) | 1.6 billion yen ($17.9 million as of December 31, 2012) | 3.30% | Notes due January 2017 with annual principal payments that began in January 2011. | |||||||
8.0 billion yen | 8.0 billion yen ($81.3 million as of September 30, 2013) | 8.0 billion yen ($92.0 million as of December 31, 2012) | 1.70% | Notes due May 2022 with annual principal payments that begin in May 2016. | |||||||
Committed loan(2): | |||||||||||
U.S. dollar denominated: | $30.0 million | $14.0 million | $18.0 million | 1.19% | Amortizes at $0.5 million every 30 days. | ||||||
Revolving credit facility(3) | |||||||||||
2010 | $35.0 million | $35.0 million | N/A | 0.69% | Revolving line of credit. | ||||||
2013(3) | $0 | $0 | N/A | N/A | Revolving line of credit. | ||||||
-1 | The current portion of the Company's long-term debt (i.e. becoming due in the next 12 months) includes $11.0 million of the balance of its Japanese yen-denominated debt under the multi-currency uncommitted shelf facility, $8.6 million of the balance on its U.S. dollar denominated debt under the multi-currency uncommitted shelf facility, $14.0 million of the Company's committed loan and $35.0 million of its revolving loan. | ||||||||||
-2 | The committed loan is secured by deeds of trust with respect to the Company's corporate headquarters and distribution center in Provo, Utah. | ||||||||||
-3 | On September 5, 2013, the Company entered into a loan agreement with Bank of America, N.A. for a 364 day revolving line of credit with a commitment amount of $50.0 million. The interest rate will be equal to 1, 2 or 3 month LIBOR plus 42.5 basis points. | ||||||||||
-11- | |||||||||||
NU SKIN ENTERPRISES, INC. | |||||||||||
Notes to Consolidated Financial Statements | |||||||||||
ACCOUNTING_PRONOUNCEMENTS
ACCOUNTING PRONOUNCEMENTS | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Pronouncements [Abstract] | ' | |
Accounting Pronouncements | ' | |
11 | ACCOUNTING PRONOUNCEMENTS | |
In July 2012, the FASB issued ASU No. 2012-02, Intangibles-Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment. The standard gives companies the option to perform a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired rather than calculating the fair value of the indefinite-lived intangible asset. It is effective prospectively for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The Company does not expect to apply the qualitative assessment provisions of ASU 2012-02. | ||
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This pronouncement was issued to improve the reporting of reclassifications out of accumulated other comprehensive income. The amendments in this update seek to attain that objective by requiring an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is reclassified to a balance sheet account (i.e. inventory) instead of directly to income or expense in the same reporting period. This pronouncement is effective prospectively for reporting periods beginning after December 15, 2012. The adoption of ASU 2013-02 did not have a material impact to the consolidated financial position, results of operations or cash flows. See Note 4 for disclosures regarding ASU 2013-02. | ||
In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the Emerging Issues Task Force). This ASU addresses when unrecognized tax benefits should be presented as reductions to deferred tax assets for net operating loss carryforwards in the financial statements. This ASU is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption and retrospective application is permitted. The Company does not anticipate the adoption of ASU 2013-11 to have a material impact to the consolidated financial position, results of operations or cash flows. | ||
-12- | ||
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ||||||||||||||||
Revenue and Long-Lived Assets by Geographic Region | ' | ||||||||||||||||
Revenue generated in each of these regions is set forth below (U.S. dollars in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
Revenue: | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Greater China | $ | 269,146 | $ | 199,728 | $ | 444,852 | $ | 292,339 | |||||||||
North Asia | 196,757 | 177,695 | 384,950 | 359,895 | |||||||||||||
South Asia/Pacific | 85,916 | 98,344 | 153,158 | 175,665 | |||||||||||||
Americas | 84,289 | 71,766 | 160,830 | 138,106 | |||||||||||||
EMEA | 46,819 | 45,702 | 89,231 | 89,232 | |||||||||||||
Totals | $ | 682,927 | $ | 593,235 | $ | 1,233,021 | $ | 1,055,237 | |||||||||
Revenue Generated by Each of the Company's Major Product Lines | ' | ||||||||||||||||
Revenue generated by each of the Company's product lines is set forth below (U.S. dollars in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
Revenue: | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Nu Skin | $ | 417,483 | $ | 295,068 | $ | 743,669 | $ | 544,583 | |||||||||
Pharmanex | 264,198 | 296,292 | 486,592 | 506,597 | |||||||||||||
Other | 1,246 | 1,875 | 2,760 | 4,057 | |||||||||||||
Totals | $ | 682,927 | $ | 593,235 | $ | 1,233,021 | $ | 1,055,237 | |||||||||
Revenue and long-lived assets by significant geographic area | ' | ||||||||||||||||
Additional information as to the Company's operations in its most significant geographic areas is set forth below (U.S. dollars in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
Revenue: | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Mainland China | $ | 197,609 | $ | 57,299 | $ | 321,662 | $ | 108,137 | |||||||||
Japan | 98,869 | 115,615 | 205,551 | 225,679 | |||||||||||||
South Korea | 97,888 | 62,080 | 179,399 | 134,216 | |||||||||||||
United States | 62,350 | 57,485 | 120,112 | 111,401 | |||||||||||||
Europe | 41,430 | 40,100 | 78,551 | 77,842 | |||||||||||||
Long-lived assets: | 30-Sep-13 | 31-Dec-12 | |||||||||||||||
Mainland China | $ | 49,150 | $ | 30,199 | |||||||||||||
Japan | 7,235 | 8,441 | |||||||||||||||
South Korea | 13,135 | 14,030 | |||||||||||||||
United States | 222,172 | 163,137 | |||||||||||||||
Europe | 2,584 | 2,622 | |||||||||||||||
-7- | |||||||||||||||||
NU SKIN ENTERPRISES, INC. | |||||||||||||||||
Notes to Consolidated Financial Statements | |||||||||||||||||
LONG_TERM_DEBT_Tables
LONG TERM DEBT (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
LONG TERM DEBT [Abstract] | ' | ||||||||||
Summary of Long-Term Debt Arrangements | ' | ||||||||||
The Company currently has debt pursuant to various credit facilities and other borrowings. The Company's book value for both the individual and consolidated debt included in the table below approximates fair value. The estimated fair value of the Company's debt is based on interest rates available for debt with similar terms and remaining maturities. The Company has classified these instruments as Level 2 in the fair value hierarchy. The following table summarizes the Company's long-term debt arrangements: | |||||||||||
Facility or | Original Principal Amount | Balance as of | Balance as of | Interest Rate | Repayment terms | ||||||
Arrangement | September 30, 2013(1) | December 31, 2012 | |||||||||
Multi-currency uncommitted shelf facility: | |||||||||||
U.S. dollar denominated: | $40.0 million | $ | 17.1 million | $22.9 million | 6.20% | Notes due July 2016 with annual principal payments that began in July 2010. | |||||
$20.0 million | $11.4 million | $14.3 million | 6.20% | Notes due January 2017 with annual principal payments that began in January 2011. | |||||||
Japanese yen denominated: | 3.1 billion yen | 0.4 billion yen ($4.6 million as of September 30, 2013) | 0.9 billion yen ($10.2 million as of December 31, 2012) | 1.70% | Notes due April 2014 with annual principal payments that began in April 2008. | ||||||
2.3 billion yen | 1.3 billion yen ($13.2 million as of September 30, 2013) | 1.6 billion yen ($18.7 million as of December 31, 2012) | 2.60% | Notes due September 2017 with annual principal payments that began in September 2011. | |||||||
2.2 billion yen | 1.2 billion yen ($12.6 million as of September 30, 2013) | 1.6 billion yen ($17.9 million as of December 31, 2012) | 3.30% | Notes due January 2017 with annual principal payments that began in January 2011. | |||||||
8.0 billion yen | 8.0 billion yen ($81.3 million as of September 30, 2013) | 8.0 billion yen ($92.0 million as of December 31, 2012) | 1.70% | Notes due May 2022 with annual principal payments that begin in May 2016. | |||||||
Committed loan(2): | |||||||||||
U.S. dollar denominated: | $30.0 million | $14.0 million | $18.0 million | 1.19% | Amortizes at $0.5 million every 30 days. | ||||||
Revolving credit facility(3) | |||||||||||
2010 | $35.0 million | $35.0 million | N/A | 0.69% | Revolving line of credit. | ||||||
2013(3) | $0 | $0 | N/A | N/A | Revolving line of credit. | ||||||
-1 | The current portion of the Company's long-term debt (i.e. becoming due in the next 12 months) includes $11.0 million of the balance of its Japanese yen-denominated debt under the multi-currency uncommitted shelf facility, $8.6 million of the balance on its U.S. dollar denominated debt under the multi-currency uncommitted shelf facility, $14.0 million of the Company's committed loan and $35.0 million of its revolving loan. | ||||||||||
-2 | The committed loan is secured by deeds of trust with respect to the Company's corporate headquarters and distribution center in Provo, Utah. | ||||||||||
-3 | On September 5, 2013, the Company entered into a loan agreement with Bank of America, N.A. for a 364 day revolving line of credit with a commitment amount of $50.0 million. The interest rate will be equal to 1, 2 or 3 month LIBOR plus 42.5 basis points. | ||||||||||
-11- | |||||||||||
NU SKIN ENTERPRISES, INC. | |||||||||||
Notes to Consolidated Financial Statements | |||||||||||
THE_COMPANY_Details
THE COMPANY (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Region | |
THE COMPANY [Abstract] | ' |
Number of geographic regions | 5 |
NET_INCOME_PER_SHARE_Details
NET INCOME PER SHARE (Details) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
NET INCOME PER SHARE [Abstract] | ' | ' | ' | ' |
Other shares excluded from the calculation of diluted earnings per share (in shares) | 1.6 | 0.2 | 0.8 | 0.1 |
DIVIDENDS_PER_SHARE_Details
DIVIDENDS PER SHARE (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 |
DIVIDENDS PER SHARE [Abstract] | ' | ' | ' | ' | ' | ' |
Date declared | '2013-07 | '2013-05 | ' | '2013-07 | ' | '2013-02 |
Cash dividend declared (in dollars per share) | $0.30 | ' | $0.30 | ' | ' | ' |
Payment of cash dividends | $17,800 | $17,600 | $17,500 | $52,891 | $36,626 | ' |
Date paid | 11-Sep-13 | ' | 13-Mar-13 | ' | ' | ' |
Date of record | 23-Aug-13 | ' | 22-Feb-13 | ' | ' | ' |
DERIVATIVE_FINANCIAL_INSTRUMEN1
DERIVATIVE FINANCIAL INSTRUMENTS (Details) | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | USD ($) | JPY (¥) | USD ($) | USD ($) | JPY (¥) | Forward Contracts - Yen [Member] | Forward Contracts - Euros [Member] | Foreign Currency Cash Flow Hedges [Member] | Foreign Currency Cash Flow Hedges [Member] | Foreign Currency Translation Adjustment [Member] | Foreign Currency Translation Adjustment [Member] |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of foreign currency cash flow hedges | ' | ¥ 3,000 | ' | $21.90 | ¥ 1,900 | $30.50 | $6 | ' | ' | ' | ' |
Currency bought | ' | ' | ' | ' | ' | 'Japanese yen | '8.1 | ' | ' | ' | ' |
Net unrealized gain | 4.7 | ' | 1.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized gains included in accumulated other comprehensive income | ' | ' | ' | ' | ' | ' | ' | $0.30 | $1.90 | $53.60 | $49.90 |
REPURCHASES_OF_COMMON_STOCK_De
REPURCHASES OF COMMON STOCK (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Jul. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' |
Common stock repurchased (in shares) | ' | 0.9 | 1.3 | 1.5 | ' | 4.1 |
Common stock repurchased | ' | $76.30 | $90.90 | $66.30 | ' | $179.60 |
Available for repurchase under the repurchase program | $400 | ' | ' | ' | $444.50 | ' |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Region | North Asia [Member] | North Asia [Member] | North Asia [Member] | North Asia [Member] | Greater China [Member] | Greater China [Member] | Greater China [Member] | Greater China [Member] | Americas [Member] | Americas [Member] | Americas [Member] | Americas [Member] | South Asia/Pacific [Member] | South Asia/Pacific [Member] | South Asia/Pacific [Member] | South Asia/Pacific [Member] | Europe - By Region [Member] | Europe - By Region [Member] | Europe - By Region [Member] | Europe - By Region [Member] | Japan [Member] | Japan [Member] | Japan [Member] | Japan [Member] | Japan [Member] | South Korea [Member] | South Korea [Member] | South Korea [Member] | South Korea [Member] | South Korea [Member] | Hong Kong [Member] | Hong Kong [Member] | Hong Kong [Member] | Hong Kong [Member] | Hong Kong [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | Mainland China [Member] | Mainland China [Member] | Mainland China [Member] | Mainland China [Member] | Mainland China [Member] | Taiwan [Member] | Taiwan [Member] | Taiwan [Member] | Taiwan [Member] | Taiwan [Member] | Malaysia [Member] | Malaysia [Member] | Malaysia [Member] | Malaysia [Member] | Malaysia [Member] | ||||
ProductLine | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of geographic regions | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of product lines | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $927,612 | $526,182 | $2,160,633 | $1,581,419 | $204,714 | $184,743 | $589,664 | $544,638 | $464,605 | $136,633 | $909,457 | $428,972 | $85,654 | $70,479 | $246,484 | $208,585 | $127,545 | $91,124 | $280,703 | $266,789 | $45,094 | $43,203 | $134,325 | $132,435 | $92,756 | $120,756 | $298,307 | $346,435 | ' | $111,958 | $63,987 | $291,357 | $198,203 | ' | $53,435 | $31,905 | $106,037 | $150,694 | ' | $59,427 | $56,382 | $179,539 | $167,783 | ' | $345,731 | $68,242 | $667,393 | $176,379 | ' | $65,439 | $36,486 | $136,027 | $101,899 | ' | $49,278 | $16,324 | $95,236 | $49,506 | ' |
Long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7,250 | ' | $7,250 | ' | $8,441 | $14,245 | ' | $14,245 | ' | $14,030 | ' | ' | $287 | ' | $559 | $254,201 | ' | $254,201 | ' | $163,137 | $63,587 | ' | $63,587 | ' | $30,199 | ' | ' | $1,699 | ' | $1,945 | ' | ' | $1,279 | ' | $730 |
SEGMENT_INFORMATION_Products_a
SEGMENT INFORMATION, Products and Services (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | $927,612 | $526,182 | $2,160,633 | $1,581,419 |
Nu Skin [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | 455,277 | 271,269 | 1,198,946 | 815,852 |
Pharmanex [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | 470,977 | 253,121 | 957,569 | 759,718 |
Other Product Lines [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenue | $1,358 | $1,792 | $4,118 | $5,849 |
DEFERRED_TAX_ASSETS_AND_LIABIL1
DEFERRED TAX ASSETS AND LIABILITIES (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
DEFERRED TAX ASSETS AND LIABILITIES [Abstract] | ' | ' |
Net deferred tax assets | $24.10 | ' |
Foreign earnings indefinitely reinvested, during the period | 40 | ' |
Accumulated reinvested foreign earnings | $50 | $10 |
UNCERTAIN_TAX_POSITIONS_Detail
UNCERTAIN TAX POSITIONS (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
UNCERTAIN TAX POSITIONS [Abstract] | ' |
Estimate of change in gross unrecognized tax benefits, net of foreign currency adjustments, within the next 12 months - minimum | $2 |
Estimate of change in gross unrecognized tax benefits, net of foreign currency adjustments, within the next 12 months - maximum | $4 |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Details) | Sep. 30, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | USD ($) | JPY (¥) |
Loss Contingencies [Line Items] | ' | ' |
Aggregate amount of assessments and disputed duties | $44.50 | ¥ 4,300 |
LONG_TERM_DEBT_Details
LONG TERM DEBT (Details) | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Feb. 05, 2014 | Feb. 05, 2013 | Sep. 30, 2013 | |||||||||||||
USD ($) | JPY (¥) | USD ($) | JPY (¥) | Multi-currency uncommitted shelf facility, U.S. dollar denominated 1 [Member] | Multi-currency uncommitted shelf facility, U.S. dollar denominated 1 [Member] | Multi-currency uncommitted shelf facility, U.S. dollar denominated 2 [Member] | Multi-currency uncommitted shelf facility, U.S. dollar denominated 2 [Member] | Multi-currency uncommitted shelf facility, total U.S. dollar-denominated debt [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 1 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 1 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 1 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 1 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 2 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 2 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 2 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 2 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 3 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 3 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 3 [Member] | Multi-currency uncommitted shelf facility, Japanese yen denominated 3 [Member] | Multi-currency uncommitted shelf facility, total Japanese yen-denominated debt [Member] | Committed loan, U.S. dollar denominated [Member] | Committed loan, U.S. dollar denominated [Member] | Revolving credit facility [Member] | Revolving credit facility [Member] | Revolving credit facility [Member] | Revolving Credit Facility Member [Member] | |||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | JPY (¥) | USD ($) | JPY (¥) | USD ($) | JPY (¥) | USD ($) | JPY (¥) | USD ($) | JPY (¥) | USD ($) | JPY (¥) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Original principal amount - facilities | ' | ¥ 8,000,000,000 | ' | ' | $40,000,000 | ' | $20,000,000 | ' | ' | ' | ¥ 3,100,000,000 | ' | ' | ' | ¥ 2,300,000,000 | ' | ' | ' | ¥ 2,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Balance - facilities | 81,300,000 | [1] | 8,000,000,000 | [1] | 92,000,000 | 8,000,000,000 | 17,100,000 | [1] | 22,900,000 | 11,400,000 | [1],[2],[3] | 14,300,000 | ' | 4,600,000 | 400,000,000 | [1] | 10,200,000 | [1] | 900,000,000 | 13,200,000 | 1,300,000,000 | [1] | 18,700,000 | 1,600,000,000 | 12,600,000 | 1,200,000,000 | [1] | 17,900,000 | 1,600,000,000 | ' | ' | ' | 35,000,000 | [1],[2],[3] | ' | ' | ' | |||
Interest rate - facilities (in hundredths) | 1.70% | 1.70% | ' | ' | 6.20% | ' | 6.20% | ' | ' | 1.70% | 1.70% | ' | ' | 2.60% | 2.60% | ' | ' | 3.30% | 3.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Repayment terms | 'Notes due May 2022 with annual principal payments that begin in May 2016. | 'Notes due May 2022 with annual principal payments that begin in May 2016. | ' | ' | 'Notes due July 2016 with annual principal payments that began in July 2010. | ' | 'Notes due January 2017 with annual principal payments that began in January 2011. | ' | ' | 'Notes due April 2014 with annual principal payments that began in April 2008. | 'Notes due April 2014 with annual principal payments that began in April 2008. | ' | ' | 'Notes due September 2017 with annual principal payments that began in September 2011. | 'Notes due September 2017 with annual principal payments that began in September 2011. | ' | ' | 'Notes due January 2017 with annual principal payments that began in January 2011. | 'Notes due January 2017 with annual principal payments that began in January 2011. | ' | ' | ' | ' | ' | 'Revolving line of credit. | [2] | ' | ' | 'Revolving line of credit. | [2] | ||||||||||
Original principal amount - other borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | [3] | ' | 35,000,000 | [2] | ' | ' | 0 | [2] | |||||||||
Balance - other borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | 14,000,000 | ' | 35,000,000 | 50,000,000 | 0 | ' | ||||||||||||
Interest rate description - other borrowings | '1, 2 or 3 month LIBOR plus 42.5 basis points | '1, 2 or 3 month LIBOR plus 42.5 basis points | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Variable 30 day: 1.186% | [3] | ' | 'Variable 30 day: 0.690% | [2] | ' | ' | ' | ||||||||||
Interest rate - other borrowings (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.19% | [3] | ' | 0.69% | [2] | ' | ' | ' | ||||||||||
Maturity Date | 1-May-22 | 1-May-22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Amortization per 30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | [3] | ' | ' | ' | |||||||||||
Current portion of long-term debt | $68,562,000 | ' | $39,019,000 | ' | ' | ' | ' | ' | $8,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,000,000 | [3] | $18,000,000 | [3] | ' | ' | ' | $0 | [2] | |||||||||
[1] | The current portion of the Companybs long-term debt (i.e. becoming due in the next 12 months) includes $10.9 million of the balance of its Japanese yen-denominated debt under the multi-currency uncommitted shelf facility, $8.6 million of the balance on its U.S. dollar denominated debt under the multi-currency uncommitted shelf facility, $15.0 million of the Companybs committed loan and $35.0 million of its revolving loan. | |||||||||||||||||||||||||||||||||||||||
[2] | On February 5, 2013, the Company entered into a second amendment of the amended and restated credit agreement. The amendment increased the commitment amount from $25.0 million to $100.0 million from February 2013 to February 2014, after which the commitment amount returns to the current level over a three-month period. | |||||||||||||||||||||||||||||||||||||||
[3] | The committed loan is secured by deeds of trust with respect to the Companybs corporate headquarters and distribution center in Provo, Utah. |