Skechers U.S.A. (SKX) 10-Q 4 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	SKX
Security Exchange Name	NYSE
Entity Registrant Name	SKECHERS USA INC
Entity Central Index Key	0001065837
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity File Number	001-14429
Entity Tax Identification Number	95-4376145
Entity Address, Address Line One	228 Manhattan Beach Blvd.
Entity Address, City or Town	Manhattan Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90266
City Area Code	310
Local Phone Number	318-3100
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		134,368,462
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		20,385,569

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 896,514	$ 615,733
Short-term investments	80,648	102,166
Trade accounts receivable, less allowances of $61,984 and $59,472	940,201	848,287
Other receivables	69,307	86,036
Inventory	1,486,012	1,818,016
Prepaid expenses and other	197,007	176,035
Total current assets ($1,061,021 and $1,014,962 related to VIEs)	3,669,689	3,646,273
Property, plant and equipment, net	1,417,225	1,345,370
Operating lease right-of-use assets	1,230,635	1,200,565
Deferred tax assets	461,021	454,190
Long-term investments	96,591	70,498
Goodwill	101,483	93,497
Other assets, net	131,013	83,094
Total non-current assets ($608,819 and $598,973 related to VIEs)	3,437,968	3,247,214
TOTAL ASSETS	7,107,657	6,893,487
Current liabilities
Accounts payable	802,234	957,384
Accrued expenses	300,071	294,143
Operating lease liabilities	261,954	238,694
Current installments of long-term borrowings	76,388	103,184
Short-term borrowings	36,654	19,635
Total current liabilities ($538,025 and $568,158 related to VIEs)	1,477,301	1,613,040
Long-term operating lease liabilities	1,069,384	1,063,672
Long-term borrowings	236,763	216,488
Deferred tax liabilities	20,224	8,656
Other long-term liabilities	112,523	120,045
Total non-current liabilities ($310,148 and $293,726 related to VIEs)	1,438,894	1,408,861
Total liabilities	2,916,195	3,021,901
Commitments and contingencies (Note 10)	0	0
Stockholders’ equity
Preferred Stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	362,769	403,799
Accumulated other comprehensive loss	(87,707)	(84,897)
Retained earnings	3,564,133	3,250,931
Skechers U.S.A., Inc. equity	3,839,349	3,569,988
Noncontrolling interests	352,113	301,598
Total stockholders' equity	4,191,462	3,871,586
TOTAL LIABILITIES AND EQUITY	7,107,657	6,893,487
Class A Common Stock [Member]
Stockholders’ equity
Common Stock	134	134
Class B Common Stock [Member]
Stockholders’ equity
Common Stock	$ 20	$ 21

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Trade accounts receivable, allowances	$ 68,501	$ 59,472
Current assets related to VIEs	3,669,689	3,646,273
Non-current assets related to VIEs	3,437,968	3,247,214
Current liabilities related to VIEs	1,477,301	1,613,040
Non-current liabilities related to VIEs	$ 1,438,894	$ 1,408,861
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Variable interest entity, primary beneficiary [Member]
Current assets related to VIEs	$ 1,100,137	$ 1,014,962
Non-current assets related to VIEs	616,850	598,973
Current liabilities related to VIEs	533,807	568,158
Non-current liabilities related to VIEs	$ 313,526	$ 293,726
Class A Common Stock [Member]
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	500,000,000	500,000,000
Common Stock, shares issued	134,291,000	134,473,000
Common Stock, shares outstanding	134,291,000	134,473,000
Class B Common Stock [Member]
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	75,000,000	75,000,000
Common Stock, shares issued	20,464,000	20,810,000
Common Stock, shares outstanding	20,464,000	20,810,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Sales	$ 2,012,516	$ 1,867,804	$ 4,014,444	$ 3,687,398
Cost of sales	951,992	970,225	1,975,341	1,965,656
Gross profit	1,060,524	897,579	2,039,103	1,721,742
Operating expenses
Selling	187,118	166,609	315,678	274,818
General and administrative	655,673	576,812	1,282,115	1,116,862
Total operating expenses	842,791	743,421	1,597,793	1,391,680
Earnings from operations	217,733	154,158	441,310	330,062
Other income (expense)	2,792	(19,259)	12,715	(25,005)
Earnings before income taxes	220,525	134,899	454,025	305,057
Income tax expense	38,942	28,739	82,158	62,731
Net earnings	181,583	106,160	371,867	242,326
Less: Net earnings attributable to noncontrolling interests	28,824	15,756	58,665	30,699
Net earnings attributable to Skechers U.S.A., Inc.	$ 152,759	$ 90,404	$ 313,202	$ 211,627
Net earnings per share attributable to Skechers U.S.A., Inc.
Basic	$ 0.99	$ 0.58	$ 2.02	$ 1.36
Diluted	$ 0.98	$ 0.58	$ 2	$ 1.35
Weighted-average shares used in calculating net earnings per share attributable to Skechers U.S.A., Inc.
Basic	154,970	155,941	155,055	155,969
Diluted	156,571	156,748	156,654	157,074

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 181,583	$ 106,160	$ 371,867	$ 242,326
Other comprehensive income, net of tax
Net unrealized gain (loss) on derivative contract	499	1,254	(917)	7,097
Loss on foreign currency translation adjustment	(16,144)	(42,229)	(9,293)	(40,740)
Comprehensive income	165,938	65,185	361,657	208,683
Less: Comprehensive income attributable to noncontrolling interests	20,669	3,743	51,265	23,764
Comprehensive income attributable to Skechers U.S.A., Inc.	$ 145,269	$ 61,442	$ 310,392	$ 184,919

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Class B Common Stock [Member]	Common Stock [Member] Class A Common Stock [Member]	Common Stock [Member] Class B Common Stock [Member]	Additional Paid-in-Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Skechers U.S.A., Inc. Equity [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2021	$ 3,542,072			$ 135	$ 21	$ 429,608	$ (48,323)	$ 2,877,903	$ 3,259,344	$ 282,728
Beginning Balance, Shares at Dec. 31, 2021				135,107,000	20,939,000
Net earnings	242,326							211,627	211,627	30,699
Foreign currency translation adjustment	(40,740)						(27,461)		(27,461)	(13,279)
Distributions to noncontrolling interests	(4,650)									4,650
Net unrealized gain (loss) on derivative contract	7,097					753			753	6,344
Stock compensation expense	33,796					33,796			33,796
Proceeds from the employee stock purchase plan, Shares				144,000
Proceeds from the employee stock purchase plan	4,836					4,836			4,836
Shares issued under the incentive award plan				$ 1		(1)
Shares issued under the incentive award plan, Shares				1,258,000
Shares redeemed for employee tax withholdings	17,401					17,401			17,401
Shares redeemed for employee tax withholdings, Shares				427,000
Repurchases of common stock	$ (49,232)			$ 1		49,231			49,232
Repurchases of common stock, Shares	(1,287,486)			1,287,000
Conversion of Class B Common Stock into Class A Common Stock, Shares				50,000	(50,000)
Ending Balance at Jun. 30, 2022	$ 3,718,104			$ 135	$ 21	402,360	(75,784)	3,089,530	3,416,262	301,842
Ending Balance, Shares at Jun. 30, 2022				134,845,000	20,889,000
Beginning Balance at Mar. 31, 2022	3,665,916			$ 135	$ 21	415,357	(46,822)	2,999,126	3,367,817	298,099
Beginning Balance, Shares at Mar. 31, 2022				134,829,000	20,939,000
Net earnings	106,160							90,404	90,404	15,756
Foreign currency translation adjustment	(42,229)						(28,962)		(28,962)	(13,267)
Net unrealized gain (loss) on derivative contract	1,254									1,254
Stock compensation expense	15,828					15,828			15,828
Proceeds from the employee stock purchase plan, Shares				144,000
Proceeds from the employee stock purchase plan	4,836					4,836			4,836
Shares issued under the incentive award plan				$ 1		(1)
Shares issued under the incentive award plan, Shares				692,000
Shares redeemed for employee tax withholdings	9,429					9,429			9,429
Shares redeemed for employee tax withholdings, Shares				234,000
Repurchases of common stock	$ (24,232)			$ 1		24,231			24,232
Repurchases of common stock, Shares	(635,712)			636,000
Conversion of Class B Common Stock into Class A Common Stock, Shares				50,000	(50,000)
Ending Balance at Jun. 30, 2022	$ 3,718,104			$ 135	$ 21	402,360	(75,784)	3,089,530	3,416,262	301,842
Ending Balance, Shares at Jun. 30, 2022				134,845,000	20,889,000
Beginning Balance at Dec. 31, 2022	3,871,586			$ 134	$ 21	403,799	(84,897)	3,250,931	3,569,988	301,598
Beginning Balance, Shares at Dec. 31, 2022		134,473,000	20,810,000	134,473,000	20,810,000
Net earnings	371,867							313,202	313,202	58,665
Foreign currency translation adjustment	(9,293)						(2,810)		(2,810)	(6,483)
Distributions to noncontrolling interests	(750)									750
Net unrealized gain (loss) on derivative contract	(917)									(917)
Stock compensation expense	31,968					31,968			31,968
Proceeds from the employee stock purchase plan, Shares				148,000
Proceeds from the employee stock purchase plan	5,402					5,402			5,402
Shares issued under the incentive award plan				$ 1		(1)
Shares issued under the incentive award plan, Shares				938,000
Shares redeemed for employee tax withholdings	18,375					18,375			18,375
Shares redeemed for employee tax withholdings, Shares				358,000
Repurchases of common stock	$ (60,026)			$ 2		60,024			60,026
Repurchases of common stock, Shares	(1,255,665)			1,256,000
Conversion of Class B Common Stock into Class A Common Stock				$ 1	$ (1)
Conversion of Class B Common Stock into Class A Common Stock, Shares				346,000	(346,000)
Ending Balance at Jun. 30, 2023	$ 4,191,462			$ 134	$ 20	362,769	(87,707)	3,564,133	3,839,349	352,113
Ending Balance, Shares at Jun. 30, 2023		134,291,000	20,464,000	134,291,000	20,464,000
Beginning Balance at Mar. 31, 2023	4,046,295			$ 134	$ 20	383,540	(80,217)	3,411,374	3,714,851	331,444
Beginning Balance, Shares at Mar. 31, 2023				134,259,000	20,474,000
Net earnings	181,583							152,759	152,759	28,824
Foreign currency translation adjustment	(16,144)						7,490		7,490	8,654
Net unrealized gain (loss) on derivative contract	(499)									(499)
Stock compensation expense	17,716					17,716			17,716
Proceeds from the employee stock purchase plan, Shares				148,000
Proceeds from the employee stock purchase plan	5,402					5,402			5,402
Shares issued under the incentive award plan				$ 1		(1)
Shares issued under the incentive award plan, Shares				713,000
Shares redeemed for employee tax withholdings	(13,877)					(13,877)			(13,877)
Shares redeemed for employee tax withholdings, Shares				260,000
Repurchases of common stock	$ (30,012)			$ (1)		(30,011)			(30,012)
Repurchases of common stock, Shares	(579,475)			579,000
Conversion of Class B Common Stock into Class A Common Stock, Shares				10,000	(10,000)
Ending Balance at Jun. 30, 2023	$ 4,191,462			$ 134	$ 20	$ 362,769	$ (87,707)	$ 3,564,133	$ 3,839,349	$ 352,113
Ending Balance, Shares at Jun. 30, 2023		134,291,000	20,464,000	134,291,000	20,464,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net earnings	$ 371,867	$ 242,326
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	85,395	72,032
Provision for bad debts and returns	35,169	9,542
Stock compensation	31,968	33,796
Deferred income taxes	(5,381)	(4,110)
Net foreign currency adjustments	(16,211)	12,336
Changes in operating assets and liabilities
Receivables	(61,318)	(210,229)
Inventory	353,102	(125,485)
Other assets	(27,440)	10,766
Accounts payable	(164,224)	118,667
Other liabilities	(27,668)	(4,932)
Net cash provided by operating activities	575,259	154,709
Cash flows from investing activities
Capital expenditures	(147,425)	(163,511)
Acquisitions, net of cash acquired	(70,369)
Purchases of investments	(73,034)	(32,770)
Proceeds from sales and maturities of investments	68,458	82,418
Net cash used in investing activities	(222,370)	(113,863)
Cash flows from financing activities
Net proceeds from the employee stock purchase plan	5,402	4,836
Repayments on long-term borrowings	(28,031)	(29,777)
Proceeds from long-term borrowings	21,510	16,040
Net proceeds from (repayments on) short-term borrowings	17,019	(1,195)
Payments for employee taxes related to stock compensation	(18,375)	(17,401)
Repurchases of common stock	(60,026)	(49,232)
Distributions to noncontrolling interests	(750)	(4,650)
Net cash used in financing activities	(63,251)	(81,379)
Effect of exchange rate changes on cash and cash equivalents	(8,857)	(3,846)
Net change in cash and cash equivalents	280,781	(44,379)
Cash and cash equivalents at beginning of the period	615,733	796,283
Cash and cash equivalents at end of the period	896,514	751,904
Cash paid during the period for
Interest	10,770	8,855
Income taxes, net	66,782	50,817
Non-cash transactions
Right-of-use assets exchanged for lease liabilities	143,941	$ 154,448
Non-cash consideration for acquired business	$ 9,180

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 152,759	$ 90,404	$ 313,202	$ 211,627

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General

General	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
General	(1) General Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Skechers U.S.A., Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S‑X. In the opinion of management, all normal adjustments and accruals considered necessary to provide a fair statement of the results of operations for the interim periods presented have been included. The December 31, 2022 balance sheet data was derived from audited financial statements; however, the accompanying notes to condensed consolidated financial statements do not include all of the annual disclosures required under GAAP and should be read in conjunction with the Company’s 2022 Annual Report on Form 10-K. Certain reclassifications have been made to the condensed consolidated financial statements in prior years to conform to the current year presentation. Noncontrolling Interests The Company has equity interests in several joint ventures that were established either to exclusively distribute the Company’s products throughout Mexico, Asia and the Middle East or to construct the Company’s domestic distribution facility. These joint ventures are variable interest entities (“VIE”), and the Company is considered the primary beneficiary. This determination is based on the relationships between the Company and the VIE, including management agreements, governance documents and other contractual arrangements. Specifically, the Company has both of the following characteristics: (a) the power to direct the activities of the entity that most significantly impact the entity’s economic performance; and (b) the obligation to absorb losses of the entity that could potentially be significant to the VIE, or the right to receive benefits from the entity that could potentially be significant to the VIE. The assets and liabilities and results of operations of these entities are included in the Company’s condensed consolidated financial statements, even though the Company may not hold a majority equity interest. The Company continues to reassess these relationships quarterly. The assets of these joint ventures are restricted, as they are not available for general business use outside the context of such joint ventures. The holders of the liabilities of each joint venture have no recourse to the Company. FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value hierarchy as defined by applicable accounting standards prioritizes the use of inputs used in valuation techniques into the following three levels: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own assumptions. The Company’s Level 1 investments primarily include money market funds, United States (“U.S.”) Treasury securities and actively traded mutual funds; Level 2 investments primarily include corporate notes and bonds, asset-backed securities and U.S. Agency securities; and the Company does not currently have any Level 3 assets or liabilities. The Company has one Level 2 derivative instrument which is an interest rate swap related to the refinancing of its U.S. distribution center (see Note 4 – Financial Commitments) classified as other assets, net. The fair value of the interest rate swap was determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipt was based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Credit valuation adjustments were incorporated to appropriately reflect both the Company’s nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. The carrying amount of receivables, payables and other amounts arising out of the normal course of business approximates fair value because of the relatively short maturity of such instruments. The carrying amount of the Company’s short-term and long-term borrowings, which are considered Level 2 liabilities, approximates fair value based on current rates and terms available to the Company for similar debt. DERIVATIVE INSTRUMENTS The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements . To accomplish this objective, the Company uses an interest rate swap as part of its interest rate risk management strategy. The Company’s interest rate swap, designated as a cash flow hedge, involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. By utilizing an interest rate swap, the Company is exposed to credit-related losses in the event that the counterparty fails to perform under the terms of the derivative contract. To mitigate this risk, the Company enters into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assesses the creditworthiness of its counterparties. As of June 30, 2023 , all counterparties to the interest rate swap had performed in accordance with their contractual obligations. RecentLY ADOPTED Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, as amended and supplemented by subsequent ASUs (collectively, “ASU 2020-04” and “ASU 2022-06”), which provides practical expedients for contract modifications and certain hedging relationships associated with the transition from reference rates that are expected to be discontinued. This guidance is applicable for borrowing instruments, which use London Interbank Offered Rate ("LIBOR") as a reference rate, and is available through December 31, 2024. During the second quarter of 2023, the Company amended certain terms of our loan agreement with Bank of America and the related interest rate swap to replace the LIBOR with the daily Secured Overnight Financing Rate ("SOFR") as part of our planned reference rate reform activities, as discussed in Note 4 - Financial Commitments . The Company elected to apply the practical expedient which allows us to account for the modification of the amended agreements as if the modifications were not substantial. These amendments did not result in any change to our application of hedge accounting or and did not have a material impact to our consolidated financial statements.

Cash, Cash Equivalents, Short-T

Cash, Cash Equivalents, Short-Term And Long-Term Investments	6 Months Ended
	Jun. 30, 2023
Cash Cash Equivalents And Short Term And Long Term Investments [Abstract]
Cash, Cash Equivalents, Short-Term and Long-Term Investments	(2) Cash, Cash Equivalents, Short-term and Long-term Investments The following tables show the Company’s cash, cash equivalents, short-term and long-term investments by significant investment category: As of June 30, 2023 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 789,496 $ 789,496 $ 789,496 $ — $ — Level 1 Money market funds 98,033 98,033 98,033 — — U.S. Treasury securities 14,119 14,119 2,999 11,120 — Mutual funds N/A 11,355 — — 11,355 Total level 1 112,152 123,507 101,032 11,120 11,355 Level 2 Corporate notes and bonds 98,921 98,921 5,986 66,526 26,409 Asset-backed securities 8,547 8,547 — — 8,547 U.S. Agency securities 4,710 4,710 — 3,002 1,708 Total level 2 112,178 112,178 5,986 69,528 36,664 Total $ 1,013,826 $ 1,025,181 $ 896,514 $ 80,648 $ 48,019 As of December 31, 2022 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 539,730 $ 539,730 $ 539,730 $ — $ — Level 1 Money market funds 71,503 71,503 71,503 — — U.S. Treasury securities 18,201 18,201 2,000 16,201 — Mutual funds N/A 5,893 — — 5,893 Total level 1 89,704 95,597 73,503 16,201 5,893 Level 2 Corporate notes and bonds 101,959 101,959 2,500 85,731 13,728 Asset-backed securities 4,641 4,641 — 234 4,407 Total level 2 106,600 106,600 2,500 85,965 18,135 Total $ 736,034 $ 741,927 $ 615,733 $ 102,166 $ 24,028 The Company’s investments consist of U.S. Treasury securities, corporate notes and bonds, asset-backed securities and U.S. agency securities, which the Company has the intent and ability to hold to maturity and therefore are classified as held-to-maturity. The Company holds mutual funds in its deferred compensation plan which are classified as trading securities. The Company may sell certain of its investments prior to their stated maturities for strategic reasons including, but not limited to, anticipation of credit deterioration and duration management. The maturities of the Company’s long-term investments are less than two years . The Company minimizes the potential risk of principal loss by investing in highly-rated securities and limiting the amount of credit exposure to any one issuer. Fair values were determined for each individual security in the investment portfolio. Included in long-term investments on the Condensed Consolidated Balance Sheets are company owned life insurance contracts of $ 48.6 million and $ 46.5 million as of June 30, 2023 and December 31, 2022. Interest income was $ 5.2 million and $ 1.6 million for three months ended June 30, 2023 and 2022, and $ 7.9 million and $ 2.7 million for six months ended June 30, 2023 and 2022. When evaluating an investment for its current expected credit losses, the Company reviews factors such as historical experience with defaults, losses, credit ratings, term and macroeconomic trends, including current conditions and forecasts to the extent they are reasonable and supportable.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	(3) Accrued Expenses Accrued expenses were as follows: As of As of (in thousands) June 30, 2023 December 31, 2022 Accrued payroll, taxes, and other $ 147,217 $ 143,664 Return reserve liability 80,072 60,482 Accrued inventory purchases 72,782 89,997 Accrued expenses $ 300,071 $ 294,143

Financial Commitments

Financial Commitments	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Financial Commitments	(4) Financial Commitments The Company had $ 3.1 million and $ 2.7 million letters of credit as of June 30, 2023 and December 31, 2022, and approximately $ 36.7 million and $ 19.6 million in short-term borrowings as of June 30, 2023 and December 31, 2022. Interest expense was $ 6.0 million and $ 4.6 million for the three months ended June 30, 2023 and 2022, and $ 11.1 million and $ 9.1 million for six months ended June 30, 2023 and 2022. Long-term borrowings were as follows: As of As of (in thousands) June 30, 2023 December 31, 2022 HF-T1 Distribution Center Loan $ 129,505 $ 129,505 HF-T2 Distribution Center Construction Loan 73,017 72,098 China Distribution Center Construction Loan 19,255 41,329 China Distribution Center Expansion Construction Loan 34,015 14,507 China Operational Loans 53,051 54,361 Other 4,308 7,872 Subtotal 313,151 319,672 Less: Current installments 76,388 103,184 Total long-term borrowings $ 236,763 $ 216,488 Revolving Credit Facility The Company maintains a revolving credit facility to manage liquidity, including working capital and capital expenditures. On December 15, 2021, the Company amended its $ 500.0 million senior, unsecured revolving credit agreement dated November 21, 2019 (the “Amended Credit Agreement”). The Amended Credit Agreement expands its senior, unsecured credit facility to $ 750.0 million, which may be increased by up to $ 250.0 million under certain conditions and provides for the issuance of letters of credit up to a maximum of $ 100.0 million and swingline loans up to a maximum of $ 50.0 million. The Amended Credit Agreement extends the maturity date of the credit agreement, which was due to expire on November 21, 2024 , to December 15, 2026 . As of June 30, 2023 , there was no outstanding balance under the revolving credit facility. The unused credit capacity was $ 746.9 million and $ 747.3 million as of June 30, 2023 and December 31 , 2022. The Company is required to maintain a maximum total adjusted net leverage ratio of 3.75 :1, except in the event of an acquisition in which case the ratio may be increased at the Company’s election to 4.25 :1 for the quarter in which such acquisition occurs and for the next three quarters thereafter. The Company was in compliance with the financial covenants as of June 30, 2023 . In addition, the Company had $ 36.7 million and $ 19.6 million outstanding under short-term borrowings as of June 30, 2023 and December 31, 2022. Included in these amounts are $ 30.8 million and $ 14.5 million as of June 30, 2023 and December 31, 2022, related to our subsidiary in India, which has a line of credit of $ 42.9 million and $ 34.1 million as of June 30, 2023 and December 31, 2022, and a weighted average interest rate of 8.7 % for the six months ended June 30, 2023. HF-T1 Distribution Center Loan To finance construction and improvements to the Company’s North American distribution center, the Company’s joint venture with HF Logistics I, LLC (“HF”), HF Logistics-SKX, LLC (the “JV”) , through a wholly-owned subsidiary of the JV (“HF - T1”), entered into a $ 129.5 million construction loan agreement which matures on March 18, 2025 (the “HF-T1 2020 Loan”) with interest of SOFR Daily Floating Rate plus a margin of 1.75 % per annum. HF-T1 also entered into an ISDA master agreement (together with the schedule related thereto, the “Swap Agreement”) with Bank of America, N.A. to govern derivative and/or hedging transactions that HF-T1 concurrently entered into with Bank of America, N.A. Pursuant to the Swap Agreement, on August 14, 2015 , HF-T1 entered into a confirmation of swap transactions (the “Interest Rate Swap”) as amended (the “Swap Agreement Amendment”) on March 18, 2020 with Bank of America, N.A. with a maturity date of March 18, 2025 . The Swap Agreement Amendment fixes the effective interest rate on the HF-T1 2020 Loan at 2.55 % per annum. The HF-T1 2020 Loan and Swap Agreement Amendment are subject to customary covenants and events of default. Bank of America, N.A. also acts as a lender and syndication agent under the Company’s revolving credit facility. The obligations of the JV under this loan are guaranteed by HF. The Interest Rate Swap involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. During the second quarter of 2023, the Company amended certain terms of our loan agreement with Bank of America and the related interest rate swap to replace the LIBOR with the daily SOFR as part of our planned reference rate reform activities. As of both June 30, 2023 and December 31, 2022, the Interest Rate Swap had an aggregate notional amount of $ 129.5 million. Under the terms of the Swap Agreement Amendment, the Company will pay a weighted-average fixed rate of 0.778 % on the notional amount and receive payments from the counterparty based on the 30-day SOFR rate, effectively modifying the Company’s exposure to interest rate risk by converting floating-rate debt to a fixed rate of 2.63 %. HF-T2 Distribution Center Construction Loan To finance the expansion of the Company’s North American distribution center, the JV, through HF Logistics-SKX T2, LLC, a wholly-owned subsidiary of the JV (“HF-T2”) entered into a construction loan agreement of up to $ 73.0 million which matures on April 3, 2025 . Under the 2020 Construction Loan Agreement, the interest rate per annum on the HF-T2 2020 Construction Loan based on the Bloomberg Short-Term Bank Yield Index (“BSBY”) Daily Floating Rate (as defined therein) plus a margin of 190 basis points, reducing to 175 basis points upon substantial completion of the construction and certain other conditions being satisfied. The weighted-average annual interest rate on borrowings under the HF-T2 Distribution Center Construction Loan was approximately 6.63 % during the six months ended June 30, 2023 . The obligations of the JV under this loan are guaranteed by TGD Holdings I, LLC, which is an affiliate of HF. China Distribution Center Construction Loan The Company entered into a 700.0 million yuan loan agreement to finance the construction of its distribution center in China which matures on September 28, 2023 . The interest rate at June 30, 2023 was 4.00 % and may increase or decrease over the life of the loan, and will be evaluated every 12 months. Beginning in 2021, the principal of the loan is repaid in semi-annual installments of variable amounts. The obligations of the China distribution center construction loan, entered through the Company’s Taicang Subsidiary are jointly and severally guaranteed by the Company’s China joint venture. As of June 30, 2023 and December 31, 2022, the outstanding balance under this loan included approximately $ 19.3 million and $ 41.3 million classified as current installments of long-term borrowings. China Distribution Center Expansion Construction Loan On October 18, 2022, the Company entered into a loan agreement for 1.1 billion yuan with Bank of China Co., Ltd to finance the construction of its distribution center expansion in China. Interest is paid quarterly. The interest rate at June 30, 2023 was 3.4 % and may increase or decrease over the life of the loan, and will be evaluated every 12 months. This loan matures 10 years from the initial receipt of funds. Beginning in 2026, the principal of the loan will be repaid in semi-annual installments of variable amounts. The obligations of this loan entered through the Company’s Taicang Subsidiary are jointly and severally guaranteed by the Company’s China joint venture. China Operational Loans The Company has certain secured credit facilities to support the operations of its China joint venture. The balance of working capital loans was approximately $ 53.1 million with interest rates ranging from 2.90 % to 3.00 % per annum as of June 30, 2023 . The balance of working capital loans as of December 31, 2022 was approximately $ 54.4 million with interest rates ranging from 2.90 % to 3.41 % per annum. The outstanding balances under these working capital loans are classified as current installments of long-term borrowings.

Stockholders Equity and Stock C

Stockholders Equity and Stock Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stockholders Equity and Stock Compensation	(5) Stockholders Equity and Stock Compensation SHARE REPURCHASE PROGRAM On January 31, 2022, the Company’s Board of Directors authorized a share repurchase program (the “Share Repurchase Program”), pursuant to which the Company may, from time to time, purchase shares of its Class A common stock, for an aggregate repurchase price not to exceed $ 500 million. The Share Repurchase Program expires on January 31, 2025 and does not obligate the Company to acquire any particular amount of shares. As of June 30, 2023, there was $ 365.7 million remaining to repurchase shares under the Share Repurchase Program. The following table provides a summary the Company’s stock repurchase activities: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Shares repurchased 579,475 635,712 1,255,665 1,287,486 Average cost per share $ 51.79 $ 38.12 $ 47.80 $ 38.24 Total cost of shares repurchased (in thousands) $ 30,012 $ 24,232 $ 60,026 $ 49,232 INCENTIVE AWARD PLAN On April 6, 2023, the Company's Board of Directors adopted the 2023 Incentive Award Plan (the "2023 Plan"), which became effective upon approval by the Company's stockholders on June 12, 2023. The 2023 Plan replaced and superseded in its entirety the 2017 Plan. A total of 7,500,000 shares of Class A Common Stock are reserved for issuance under the 2023 Plan, which provides for the grants of ISOs, non-qualified stock options, restricted stock and various other types of equity awards as described in the plan to the employees, consultants, and directors of the Company. The 2023 Plan is administered by the Company's Board of Directors with respect to awards to non-employee directors and by the Company's Compensation Committee with respect to other eligible participants. In the six months ended June 30, 2023 , the Company granted restricted stock with time-based vesting as well as performance-based awards. The performance-based awards include a market condition tied to the Company’s total shareholder return in relation to its peer companies as well as a financial performance condition tied to annual earnings per share (“EPS”) growth. The vesting and ultimate payout of performance awards is determined at the end of the three-year performance period and can vary from zero to 200 % based on actual results. As of June 30, 2023 , there were 6,768,539 shares available for grant as equity awards under the 2023 Incentive Award Plan if target levels are achieved for performance-based awards and 6,292,756 if maximum levels are achieved. The Company issued the following stock-based instruments: Six Months Ended June 30, 2023 2022 Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Restricted stock 885,490 $ 45.83 1,314,850 $ 38.57 Performance-based restricted stock 121,225 $ 43.34 116,250 $ 42.46 Market-based restricted stock 121,225 $ 59.71 116,250 $ 58.85 A summary of the status and changes of the Company’s unvested shares is presented below: Shares Weighted-Average Grant-Date Fair Value Unvested at December 31, 2022 3,423,902 $ 40.62 Granted 1,127,940 47.06 Vested ( 938,237 ) 38.96 Cancelled ( 37,000 ) 40.63 Unvested at June 30, 2023 3,576,605 $ 43.08 The Company determines the fair value of restricted stock awards and any performance-related components based on the closing market price of the Company’s common stock on the date of grant. For share-based awards with a performance-based vesting requirement, the Company evaluates the probability of achieving the performance criteria throughout the performance period and will adjust stock compensation expense up or down based on its estimated probable outcome. Certain performance-based awards contain market condition components which are valued on the date of grant using a Monte Carlo simulation model. For the three months ended June 30, 2023 and 2022, the Company recognized $ 16.9 million and $ 15.1 million of incentive stock compensation expense. For the six months ended June 30, 2023 and 2022 , the Company recognized $ 30.4 million and $ 32.3 million of incentive stock compensation expense. As of June 30, 2023 , the unamortized stock compensation of $ 111.6 million is expected to be recognized over a weighted-average period of 1.93 years. STOCK PURCHASE PLAN A total of 5,000,000 shares of Class A Common Stock are available for sale under the 2018 Employee Stock Purchase Plan (“2018 ESPP”). The 2018 ESPP provides eligible employees of the Company and its subsidiaries the opportunity to purchase shares of the Company’s Class A Common Stock at a purchase price equal to 85 % of the fair market value on the first trading day or last trading day of each purchase period, whichever is lower. Eligible employees can invest up to 15 % of their compensation through payroll deductions during each purchase period. The purchase price discount and the look-back feature cause the 2018 ESPP to be compensatory and the Company recognizes compensation expense, which is computed using the Black-Scholes valuation model. For the three months ended June 30, 2023 and 2022, the Company recognized $ 0.8 million and $ 0.7 million of ESPP stock compensation expense. For the six months ended June 30, 2023 and 2022, the Company recognized $ 1.5 million of ESPP stock compensation expense. As of June 30, 2023 , there were 3,667,869 shares available for sale under the 2018 ESPP.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	(6) Earnings Per Share Basic EPS and diluted EPS are calculated by dividing net earnings by the following: for basic EPS, the weighted-average number of common shares outstanding for the period; and for diluted EPS, the sum of the weighted-average number of both outstanding common shares and potentially dilutive common shares using the treasury stock method. The calculation of EPS is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2023 2022 2023 2022 Net earnings attributable to Skechers U.S.A., Inc. $ 152,759 $ 90,404 $ 313,202 $ 211,627 Weighted-average common shares outstanding, basic 154,970 155,941 155,055 155,969 Dilutive effect of nonvested shares 1,601 807 1,599 1,105 Weighted-average common shares outstanding, diluted 156,571 156,748 156,654 157,074 Anti-dilutive common shares excluded above 12 67 14 37 Net earnings per share attributable to Skechers U.S.A., Inc. Basic $ 0.99 $ 0.58 $ 2.02 $ 1.36 Diluted $ 0.98 $ 0.58 $ 2.00 $ 1.35

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	(7) Income Taxes The tax provisions for the three and six months ended June 30, 2023 and 2022, were computed using the estimated effective tax rates applicable to each of the domestic and international taxable jurisdictions for the full year. The Company’s tax rate is subject to management’s quarterly review and revision, as necessary. The Company’s provision for income tax expense and effective income tax rate are significantly impacted by the mix of the Company’s domestic and foreign earnings (loss) before income taxes. In the foreign jurisdictions in which the Company has operations, the applicable statutory rates range from 0 % to 35 % , which is on average significantly lower than the U.S. federal and state combined statutory rate of approximately 25 %. The Company’s effective tax rate was 17.7 % and 21.3 % for the three months ended June 30, 2023 and 2022, and 18.1 % and 20.6 % for the six months ended June 30, 2023 and 2022. The decrease for the quarterly rates is primarily due to the positive impact of discrete items.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	(8) Related Party Transactions The Skechers Foundation (the “Foundation”) is a 501(c)(3) non-profit entity and not a subsidiary or otherwise affiliated with the Company. The Company does not have a financial interest in the Foundation. However, two officers and directors of the Company, Michael Greenberg, the Company’s President, and David Weinberg, the Company’s Chief Operating Officer, are officers and directors of the Foundation. During the three months ended June 30, 2023 and June 30, 2022 , the Company made contributions of $ 1.0 million and $ 0.5 million, and contributions of $ 1.0 million for each of the six-month periods ended June 30, 2023 and June 30, 2022 .

Segment and Geographic Informat

Segment and Geographic Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment and Geographic Information	(9) Segment and Geographic Information The Company has two reportable segments, Wholesale and Direct-to-Consumer. Management evaluates segment performance based primarily on sales and gross margin. Other costs and expenses of the Company are analyzed on an aggregate basis and not allocated to the segments. The following summarizes the Company’s operations by segment and geographic area: Segment Information Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Wholesale sales $ 1,073,019 $ 1,140,325 $ 2,367,576 $ 2,391,631 Gross profit 431,551 414,479 943,550 869,439 Gross margin 40.2 % 36.3 % 39.9 % 36.4 % Direct-to-Consumer sales $ 939,497 $ 727,479 $ 1,646,868 $ 1,295,767 Gross profit 628,973 483,100 1,095,553 852,303 Gross margin 66.9 % 66.4 % 66.5 % 65.8 % Total sales $ 2,012,516 $ 1,867,804 $ 4,014,444 $ 3,687,398 Gross profit 1,060,524 897,579 2,039,103 1,721,742 Gross margin 52.7 % 48.1 % 50.8 % 46.7 % (in thousands) As of As of Identifiable assets Wholesale $ 3,575,560 $ 3,682,860 Direct-to-Consumer 3,532,097 3,210,627 Total $ 7,107,657 $ 6,893,487 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Additions to property, plant and equipment Wholesale $ 55,916 $ 49,965 $ 107,432 $ 114,663 Direct-to-Consumer 20,296 24,148 39,993 48,848 Total $ 76,212 $ 74,113 $ 147,425 $ 163,511 Geographic Information Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Geographic sales Domestic Wholesale $ 390,783 $ 521,041 $ 832,685 $ 1,059,610 Domestic Direct-to-Consumer 411,063 319,508 710,027 558,956 Total domestic sales 801,846 840,549 1,542,712 1,618,566 International Wholesale 682,236 619,284 1,534,891 1,332,021 International Direct-to-Consumer 528,434 407,971 936,841 736,811 Total international sales 1,210,670 1,027,255 2,471,732 2,068,832 Total sales $ 2,012,516 $ 1,867,804 $ 4,014,444 $ 3,687,398 Regional Sales Americas (AMER) $ 1,027,006 $ 1,033,879 $ 1,972,936 $ 1,980,765 Europe, Middle East & Africa (EMEA) 433,351 374,566 967,845 815,767 Asia Pacific (APAC) 552,159 459,359 1,073,663 890,866 Total sales $ 2,012,516 $ 1,867,804 $ 4,014,444 $ 3,687,398 China sales $ 302,401 $ 254,917 $ 584,354 $ 527,948 (in thousands) As of As of Property, plant and equipment, net Domestic $ 901,797 $ 870,924 International 515,428 474,446 Total $ 1,417,225 $ 1,345,370 China property plant and equipment, net $ 280,463 $ 264,422 The Company’s sales to its five largest customers accounted for approximately 8.0 % and 11.1 % of total sales for the three months ended June 30, 2023 and 2022, and for the six months ended June 30, 2023 and 2022 were 7.8 % and 10.2 % . Assets located outside the U.S. consist primarily of cash, accounts receivable, inventory, property, plant and equipment, and other assets. Net assets held outside the U.S. were $ 4.8 billion and $ 4.4 billion at June 30, 2023 and December 31, 2022. Goodwill of $ 101.5 million and $ 93.5 million is included in the Wholesale segment as of June 30, 2023 and December 31, 2022. The Company performs regular evaluations concerning the ability of customers to satisfy their obligations and provides for estimated doubtful accounts. Domestic accounts receivable generally do not require collateral. Foreign accounts receivable are generally collateralized by letters of credit. The Company’s additions to the provision for expected credit losses for the three months ended June 30, 2023 and 2022 were $ 0.4 million and $ 0.7 million, and for the six months ended June 30, 2023 and 2022 were $ 1.1 million and $ 1.0 million. The Company’s accounts receivables, excluding allowances for bad debts and chargebacks, by geography are summarized as follows: (in thousands) As of As of Domestic Accounts Receivable $ 331,663 $ 310,138 International Accounts Receivable 677,039 597,621 The Company’s top five manufacturers produced the following: Three Months Ended June 30, Six Months Ended June 30, (percentage of total production) 2023 2022 2023 2022 Manufacturer #1 17.1 16.1 19.8 16.9 Manufacturer #2 7.1 6.3 6.5 5.6 Manufacturer #3 6.8 6.1 6.5 5.6 Manufacturer #4 6.1 6.0 5.7 5.1 Manufacturer #5 5.5 5.0 5.2 4.7 Total 42.6 39.5 43.7 37.9

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(10) Commitments and Contingencies In accordance with GAAP, the Company records a liability in its condensed consolidated financial statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. Estimates of probable losses resulting from litigation and governmental proceedings are inherently difficult to predict, particularly when the matters are in the procedural stages or with unspecified or indeterminate claims for damages, potential penalties, or fines. Accordingly, the Company cannot determine the final amount, if any, of its liability beyond the amount accrued in the condensed consolidated financial statements as of June 30, 2023 , nor is it possible to estimate what litigation-related costs will be in the future; however, the Company believes that the likelihood that claims related to litigation would result in a material loss to the Company, either individually or in the aggregate, is remote.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2023
Business Combinations [Abstract]
Business Combinations	(11) Business Combinations Business acquisitions are accounted for under the acquisition method by assigning the purchase consideration to tangible and intangible assets acquired and liabilities assumed. The results of businesses acquired in a business combination are included in the consolidated financial statements from the date of acquisition. Assets acquired and liabilities assumed are recorded at their fair values and the excess of the purchase consideration over the amounts assigned is recorded as goodwill. Purchased intangible assets with finite lives are amortized over their estimated useful lives. Fair value determinations require judgment and may involve the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives, and market multiples, among other items. On May 31, 2023, the Company acquired 100 % of the equity interests of Sports Connection Holdings ApS ("Sports Connection"), a Denmark-based company and a former distributor, to further broaden our reach in Europe. The total consideration is approximately $ 84.0 million and consisted of an initial cash payment of $ 74.8 million, the settlement of pre-existing receivables of $ 1.7 million and a contingent consideration payable of up to $ 7.5 million, subject to the acquiree achieving certain 2023 financial results. On the acquisition date, we recorded intangible assets of $ 54.4 million, goodwill of $ 8.0 million and other net assets of $ 21.6 million. The intangible assets have an estimated life of 7 years and are primarily related to reacquired rights. The acquisition is a non-taxable business combination and goodwill is not deductible for tax purposes. The results of Sports Connection's operations have been included in, but are not material to, the Company's consolidated results of operations since the date of acquisition. Unaudited supplemental pro forma results of operations have not been presented because the effect of the acquisition was not material to the Company's condensed consolidated financial statements. One-time acquisition related costs of $ 1.4 million were expensed as general and administrative expenses as incurred. The purchase accounting for the Sports Connection acquisition remains preliminary. Although the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, as well as any contingent consideration, the estimates are inherently uncertain and subject to refinement. As a result, any adjustments will be recognized in the reporting period in which the amounts are determined, but not to exceed twelve months from the acquisition date.

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Skechers U.S.A., Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S‑X. In the opinion of management, all normal adjustments and accruals considered necessary to provide a fair statement of the results of operations for the interim periods presented have been included. The December 31, 2022 balance sheet data was derived from audited financial statements; however, the accompanying notes to condensed consolidated financial statements do not include all of the annual disclosures required under GAAP and should be read in conjunction with the Company’s 2022 Annual Report on Form 10-K. Certain reclassifications have been made to the condensed consolidated financial statements in prior years to conform to the current year presentation.
Noncontrolling Interests	Noncontrolling Interests The Company has equity interests in several joint ventures that were established either to exclusively distribute the Company’s products throughout Mexico, Asia and the Middle East or to construct the Company’s domestic distribution facility. These joint ventures are variable interest entities (“VIE”), and the Company is considered the primary beneficiary. This determination is based on the relationships between the Company and the VIE, including management agreements, governance documents and other contractual arrangements. Specifically, the Company has both of the following characteristics: (a) the power to direct the activities of the entity that most significantly impact the entity’s economic performance; and (b) the obligation to absorb losses of the entity that could potentially be significant to the VIE, or the right to receive benefits from the entity that could potentially be significant to the VIE. The assets and liabilities and results of operations of these entities are included in the Company’s condensed consolidated financial statements, even though the Company may not hold a majority equity interest. The Company continues to reassess these relationships quarterly. The assets of these joint ventures are restricted, as they are not available for general business use outside the context of such joint ventures. The holders of the liabilities of each joint venture have no recourse to the Company.
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value hierarchy as defined by applicable accounting standards prioritizes the use of inputs used in valuation techniques into the following three levels: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own assumptions. The Company’s Level 1 investments primarily include money market funds, United States (“U.S.”) Treasury securities and actively traded mutual funds; Level 2 investments primarily include corporate notes and bonds, asset-backed securities and U.S. Agency securities; and the Company does not currently have any Level 3 assets or liabilities. The Company has one Level 2 derivative instrument which is an interest rate swap related to the refinancing of its U.S. distribution center (see Note 4 – Financial Commitments) classified as other assets, net. The fair value of the interest rate swap was determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipt was based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Credit valuation adjustments were incorporated to appropriately reflect both the Company’s nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. The carrying amount of receivables, payables and other amounts arising out of the normal course of business approximates fair value because of the relatively short maturity of such instruments. The carrying amount of the Company’s short-term and long-term borrowings, which are considered Level 2 liabilities, approximates fair value based on current rates and terms available to the Company for similar debt.
Derivative Instruments	DERIVATIVE INSTRUMENTS The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements . To accomplish this objective, the Company uses an interest rate swap as part of its interest rate risk management strategy. The Company’s interest rate swap, designated as a cash flow hedge, involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. By utilizing an interest rate swap, the Company is exposed to credit-related losses in the event that the counterparty fails to perform under the terms of the derivative contract. To mitigate this risk, the Company enters into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assesses the creditworthiness of its counterparties. As of June 30, 2023 , all counterparties to the interest rate swap had performed in accordance with their contractual obligations.
Recently Adopted Accounting Pronouncements	RecentLY ADOPTED Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, as amended and supplemented by subsequent ASUs (collectively, “ASU 2020-04” and “ASU 2022-06”), which provides practical expedients for contract modifications and certain hedging relationships associated with the transition from reference rates that are expected to be discontinued. This guidance is applicable for borrowing instruments, which use London Interbank Offered Rate ("LIBOR") as a reference rate, and is available through December 31, 2024. During the second quarter of 2023, the Company amended certain terms of our loan agreement with Bank of America and the related interest rate swap to replace the LIBOR with the daily Secured Overnight Financing Rate ("SOFR") as part of our planned reference rate reform activities, as discussed in Note 4 - Financial Commitments . The Company elected to apply the practical expedient which allows us to account for the modification of the amended agreements as if the modifications were not substantial. These amendments did not result in any change to our application of hedge accounting or and did not have a material impact to our consolidated financial statements.

Cash, Cash Equivalents, Short_2

Cash, Cash Equivalents, Short-Term And Long-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Cash Cash Equivalents And Short Term And Long Term Investments [Abstract]
Summary of Cash, Cash Equivalents, Short-Term and Long-Term Investments by Significant Investment Category	The following tables show the Company’s cash, cash equivalents, short-term and long-term investments by significant investment category: As of June 30, 2023 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 789,496 $ 789,496 $ 789,496 $ — $ — Level 1 Money market funds 98,033 98,033 98,033 — — U.S. Treasury securities 14,119 14,119 2,999 11,120 — Mutual funds N/A 11,355 — — 11,355 Total level 1 112,152 123,507 101,032 11,120 11,355 Level 2 Corporate notes and bonds 98,921 98,921 5,986 66,526 26,409 Asset-backed securities 8,547 8,547 — — 8,547 U.S. Agency securities 4,710 4,710 — 3,002 1,708 Total level 2 112,178 112,178 5,986 69,528 36,664 Total $ 1,013,826 $ 1,025,181 $ 896,514 $ 80,648 $ 48,019 As of December 31, 2022 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 539,730 $ 539,730 $ 539,730 $ — $ — Level 1 Money market funds 71,503 71,503 71,503 — — U.S. Treasury securities 18,201 18,201 2,000 16,201 — Mutual funds N/A 5,893 — — 5,893 Total level 1 89,704 95,597 73,503 16,201 5,893 Level 2 Corporate notes and bonds 101,959 101,959 2,500 85,731 13,728 Asset-backed securities 4,641 4,641 — 234 4,407 Total level 2 106,600 106,600 2,500 85,965 18,135 Total $ 736,034 $ 741,927 $ 615,733 $ 102,166 $ 24,028

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses were as follows: As of As of (in thousands) June 30, 2023 December 31, 2022 Accrued payroll, taxes, and other $ 147,217 $ 143,664 Return reserve liability 80,072 60,482 Accrued inventory purchases 72,782 89,997 Accrued expenses $ 300,071 $ 294,143

Financial Commitments (Tables)

Financial Commitments (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-Term Borrowings	Long-term borrowings were as follows: As of As of (in thousands) June 30, 2023 December 31, 2022 HF-T1 Distribution Center Loan $ 129,505 $ 129,505 HF-T2 Distribution Center Construction Loan 73,017 72,098 China Distribution Center Construction Loan 19,255 41,329 China Distribution Center Expansion Construction Loan 34,015 14,507 China Operational Loans 53,051 54,361 Other 4,308 7,872 Subtotal 313,151 319,672 Less: Current installments 76,388 103,184 Total long-term borrowings $ 236,763 $ 216,488

Stockholders Equity and Stock_2

Stockholders Equity and Stock Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Summary of Stock Repurchase Activities	The following table provides a summary the Company’s stock repurchase activities: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Shares repurchased 579,475 635,712 1,255,665 1,287,486 Average cost per share $ 51.79 $ 38.12 $ 47.80 $ 38.24 Total cost of shares repurchased (in thousands) $ 30,012 $ 24,232 $ 60,026 $ 49,232
Summary of Stock-Based Instruments	The Company issued the following stock-based instruments: Six Months Ended June 30, 2023 2022 Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Restricted stock 885,490 $ 45.83 1,314,850 $ 38.57 Performance-based restricted stock 121,225 $ 43.34 116,250 $ 42.46 Market-based restricted stock 121,225 $ 59.71 116,250 $ 58.85
Summary of Unvested Shares	A summary of the status and changes of the Company’s unvested shares is presented below: Shares Weighted-Average Grant-Date Fair Value Unvested at December 31, 2022 3,423,902 $ 40.62 Granted 1,127,940 47.06 Vested ( 938,237 ) 38.96 Cancelled ( 37,000 ) 40.63 Unvested at June 30, 2023 3,576,605 $ 43.08

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of Calculation of EPS	The calculation of EPS is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2023 2022 2023 2022 Net earnings attributable to Skechers U.S.A., Inc. $ 152,759 $ 90,404 $ 313,202 $ 211,627 Weighted-average common shares outstanding, basic 154,970 155,941 155,055 155,969 Dilutive effect of nonvested shares 1,601 807 1,599 1,105 Weighted-average common shares outstanding, diluted 156,571 156,748 156,654 157,074 Anti-dilutive common shares excluded above 12 67 14 37 Net earnings per share attributable to Skechers U.S.A., Inc. Basic $ 0.99 $ 0.58 $ 2.02 $ 1.36 Diluted $ 0.98 $ 0.58 $ 2.00 $ 1.35

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting Information	Segment Information Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Wholesale sales $ 1,073,019 $ 1,140,325 $ 2,367,576 $ 2,391,631 Gross profit 431,551 414,479 943,550 869,439 Gross margin 40.2 % 36.3 % 39.9 % 36.4 % Direct-to-Consumer sales $ 939,497 $ 727,479 $ 1,646,868 $ 1,295,767 Gross profit 628,973 483,100 1,095,553 852,303 Gross margin 66.9 % 66.4 % 66.5 % 65.8 % Total sales $ 2,012,516 $ 1,867,804 $ 4,014,444 $ 3,687,398 Gross profit 1,060,524 897,579 2,039,103 1,721,742 Gross margin 52.7 % 48.1 % 50.8 % 46.7 % (in thousands) As of As of Identifiable assets Wholesale $ 3,575,560 $ 3,682,860 Direct-to-Consumer 3,532,097 3,210,627 Total $ 7,107,657 $ 6,893,487 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Additions to property, plant and equipment Wholesale $ 55,916 $ 49,965 $ 107,432 $ 114,663 Direct-to-Consumer 20,296 24,148 39,993 48,848 Total $ 76,212 $ 74,113 $ 147,425 $ 163,511
Geographic Information	Geographic Information Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Geographic sales Domestic Wholesale $ 390,783 $ 521,041 $ 832,685 $ 1,059,610 Domestic Direct-to-Consumer 411,063 319,508 710,027 558,956 Total domestic sales 801,846 840,549 1,542,712 1,618,566 International Wholesale 682,236 619,284 1,534,891 1,332,021 International Direct-to-Consumer 528,434 407,971 936,841 736,811 Total international sales 1,210,670 1,027,255 2,471,732 2,068,832 Total sales $ 2,012,516 $ 1,867,804 $ 4,014,444 $ 3,687,398 Regional Sales Americas (AMER) $ 1,027,006 $ 1,033,879 $ 1,972,936 $ 1,980,765 Europe, Middle East & Africa (EMEA) 433,351 374,566 967,845 815,767 Asia Pacific (APAC) 552,159 459,359 1,073,663 890,866 Total sales $ 2,012,516 $ 1,867,804 $ 4,014,444 $ 3,687,398 China sales $ 302,401 $ 254,917 $ 584,354 $ 527,948 (in thousands) As of As of Property, plant and equipment, net Domestic $ 901,797 $ 870,924 International 515,428 474,446 Total $ 1,417,225 $ 1,345,370 China property plant and equipment, net $ 280,463 $ 264,422
Summary of Accounts Receivables Excluding the Allowance for Bad Debts and Chargebacks	The Company’s accounts receivables, excluding allowances for bad debts and chargebacks, by geography are summarized as follows: (in thousands) As of As of Domestic Accounts Receivable $ 331,663 $ 310,138 International Accounts Receivable 677,039 597,621
Company's Top Five Manufacturers Produced	The Company’s top five manufacturers produced the following: Three Months Ended June 30, Six Months Ended June 30, (percentage of total production) 2023 2022 2023 2022 Manufacturer #1 17.1 16.1 19.8 16.9 Manufacturer #2 7.1 6.3 6.5 5.6 Manufacturer #3 6.8 6.1 6.5 5.6 Manufacturer #4 6.1 6.0 5.7 5.1 Manufacturer #5 5.5 5.0 5.2 4.7 Total 42.6 39.5 43.7 37.9

General - Additional Informatio

General - Additional Information (Detail)	Jun. 30, 2023 Derivative
Interest Rate Swap [Member] | Level 2 [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of derivative instrument	1

Cash, Cash Equivalents, Short_3

Cash, Cash Equivalents, Short-Term and Long-Term Investments - Summary of Cash, Cash Equivalents, Short-Term and Long-Term Investments by Significant Investment Category (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	$ 896,514	$ 615,733
Short-Term Investments	80,648	102,166
Long-Term Investments	48,019	24,028
Adjusted Cost	1,013,826	736,034
Fair Value	1,025,181	741,927
Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	101,032	73,503
Fair Value	123,507	95,597
Short-Term Investments	11,120	16,201
Long-Term Investments	11,355	5,893
Adjusted Cost	112,152	89,704
Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	5,986	2,500
Fair Value	112,178	106,600
Short-Term Investments	69,528	85,965
Long-Term Investments	36,664	18,135
Adjusted Cost	112,178	106,600
Money market funds [Member] | Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	98,033	71,503
Fair Value	98,033	71,503
Short-Term Investments	0	0
Long-Term Investments	0	0
Adjusted Cost	98,033	71,503
U.S. Treasury Securities [Member] | Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	2,999	2,000
Fair Value	14,119	18,201
Short-Term Investments	11,120	16,201
Long-Term Investments	0	0
Adjusted Cost	14,119	18,201
Mutual Funds [Member] | Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	0	0
Fair Value	11,355	5,893
Short-Term Investments	0	0
Long-Term Investments	11,355	5,893
Adjusted Cost	0	0
Corporate Notes and Bonds [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	5,986	2,500
Fair Value	98,921	101,959
Short-Term Investments	66,526	85,731
Long-Term Investments	26,409	13,728
Adjusted Cost	98,921	101,959
Asset-backed Securities [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	0	0
Fair Value	8,547	4,641
Short-Term Investments	0	234
Long-Term Investments	8,547	4,407
Adjusted Cost	8,547	4,641
Cash [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	789,496	539,730
Short-Term Investments	0	0
Long-Term Investments	0	0
Fair Value	789,496	$ 539,730
U.S. Agency securities [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	0
Fair Value	4,710
Short-Term Investments	3,002
Long-Term Investments	1,708
Adjusted Cost	$ 4,710

Cash, Cash Equivalents, Short_4

Cash, Cash Equivalents, Short-Term and Long-Term Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Interest income	$ 5,200	$ 1,600	$ 7,900	$ 2,700
Company owned life insurance contracts	96,591		96,591		$ 70,498
Life Insurance Contracts [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Company owned life insurance contracts	$ 48,600		$ 48,600		$ 46,500
Maximum [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Long-term investments maturity period			2 years

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued payroll, taxes, and other	$ 147,217	$ 143,664
Return reserve liability	80,072	60,482
Accrued inventory purchases	72,782	89,997
Accrued expenses	$ 300,071	$ 294,143

Financial Commitments - Additio

Financial Commitments - Additional Information (Detail) ¥ in Millions					3 Months Ended		6 Months Ended
	Oct. 18, 2022 CNY (¥)	Dec. 15, 2021 USD ($)	Mar. 18, 2020	Nov. 21, 2019 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Outstanding letters of credit					$ 3,100,000		$ 3,100,000			$ 2,700,000
Short-term borrowings					36,654,000		36,654,000			19,635,000
Interest Expense					$ 6,000,000	$ 4,600,000	$ 11,100,000	$ 9,100,000
Weighted-average annual interest rate					8.70%		8.70%		8.70%
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Aggregate notional amount					$ 129,500,000		$ 129,500,000			$ 129,500,000
Weighted-average fixed rate					0.778%		0.778%		0.778%	0.778%
Derivative, fixed interest rate					2.63%		2.63%		2.63%	2.63%
China Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility | ¥									¥ 700
Debt instrument maturity date							Sep. 28, 2023
Debt instrument variable rate					4%		4%		4%
Line of credit facility, frequency of payment and payment term							The interest rate at June 30, 2023 was 4.00% and may increase or decrease over the life of the loan, and will be evaluated every 12 months.
Outstanding balance					$ 19,300,000		$ 19,300,000			$ 41,300,000
Loan amount | ¥	¥ 1,100
Debt instrument rate					3.40%		3.40%		3.40%
Debt instrument, term	10 years
Other China Operational Loans [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility					$ 53,100,000		$ 53,100,000			54,400,000
Joint Venture with HF Logistics [Member] | 2020 Amendment Loan [Member] | SOFR Loans [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate							SOFR Daily Floating Rate plus a margin of 1.75% per annum.
Joint Venture with HF Logistics [Member] | Construction Loan Agreement [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Interest rate swap agreement date			Aug. 14, 2015
Joint Venture with HF Logistics [Member] | 2020 Construction Loan Agreement [Member] | HF-T2 Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Weighted-average annual interest rate					6.63%		6.63%		6.63%
Debt instrument maturity date							Apr. 03, 2025
Interest rate of line of credit agreement							1.90%
Debt instrument basis spread on variable rate							Under the 2020 Construction Loan Agreement, the interest rate per annum on the HF-T2 2020 Construction Loan
Debt instrument, decrease in basis points							1.75%
India [Member]
Debt Instrument [Line Items]
Short-term borrowings					$ 30,800,000		$ 30,800,000			14,500,000
Maximum [Member]
Debt Instrument [Line Items]
Line of credit					42,900,000		42,900,000			34,100,000
Maximum [Member] | Joint Venture with HF Logistics [Member] | 2020 Construction Loan Agreement [Member] | HF-T2 Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Borrowing under loan agreement					73,000,000		73,000,000
Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument unused credit capacity					746,900,000		746,900,000			$ 747,300,000
Amended Credit Agreement [Member] | Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility		$ 750,000,000		$ 500,000,000
Maturity date of credit agreement		Dec. 15, 2026		Nov. 21, 2024
Amended Credit Agreement [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Increase in leverage ratio		4.25%
Amended Credit Agreement [Member] | Line of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit, increase		$ 250,000,000
Adjusted net leverage ratio		3.75
Amended Credit Agreement [Member] | Letters of Credit [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility		$ 100,000,000
Amended Credit Agreement [Member] | Swingline Loans [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility		$ 50,000,000
Amended Credit Agreement [Member] | Revolving Credit Facility
Debt Instrument [Line Items]
Short-term borrowings					0		$ 0
HF-T1 Distribution Center Loan [Member] | Joint Venture with HF Logistics [Member] | 2020 Amendment Loan [Member]
Debt Instrument [Line Items]
Debt instrument maturity date							Mar. 18, 2025
HF-T1 Distribution Center Loan [Member] | Joint Venture with HF Logistics [Member] | 2020 Amendment Loan [Member] | SOFR Loans [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement							1.75%
HF-T1 Distribution Center Loan [Member] | Joint Venture with HF Logistics [Member] | Construction Loan Agreement [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Derivative maturity date			Mar. 18, 2025
Effective fixed interest rate of loan with swap			2.55%
HF-T1 Distribution Center Loan [Member] | Minimum [Member] | 2020 Amendment Loan [Member]
Debt Instrument [Line Items]
Borrowing under loan agreement					$ 129,500,000		$ 129,500,000
Interests at a Range of 2.90% to 3.00% per Annum [Member] | Maximum [Member] | Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate					3%		3%		3%
Interests at a Range of 2.90% to 3.00% per Annum [Member] | Minimum [Member] | Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate					2.90%		2.90%		2.90%
Interests at a Range of 2.90% to 3.41% per Annum [Member] | Maximum [Member] | Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate										3.41%
Interests at a Range of 2.90% to 3.41% per Annum [Member] | Minimum [Member] | Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate										2.90%

Financial Commitments - Long-Te

Financial Commitments - Long-Term Borrowings (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term borrowings	$ 313,151	$ 319,672
Current installments of long-term borrowings	76,388	103,184
Long-term borrowings	236,763	216,488
China Operational Loans [Member]
Debt Instrument [Line Items]
Long-term borrowings	53,051	54,361
China Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Long-term borrowings	19,255	41,329
China Distribution Center Expansion Construction Loan
Debt Instrument [Line Items]
Long-term borrowings	34,015	14,507
Other [Member]
Debt Instrument [Line Items]
Long-term borrowings	4,308	7,872
HF-T1 Distribution Center Loan [Member]
Debt Instrument [Line Items]
Long-term borrowings	129,505	129,505
HF-T2 Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Long-term borrowings	$ 73,017	$ 72,098

Stockholders Equity and Stock_3

Stockholders Equity and Stock Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jan. 31, 2022
Class Of Stock [Line Items]
Stock repurchase program expiration date			Jan. 31, 2025
Remaining to repurchase shares under Share Repurchase Program	$ 365.7		$ 365.7
Recognized stock compensation expense	16.9	$ 15.1	30.4	$ 32.3
Unrecognized compensation cost related to nonvested common shares	111.6		$ 111.6
Weighted average period for recognition of cost			1 year 11 months 4 days
ESPP
Class Of Stock [Line Items]
Recognized stock compensation expense	$ 0.8	$ 0.7	$ 1.5	$ 1.5
Performance-Based Awards [Member]
Class Of Stock [Line Items]
Performance period			3 years
Performance-Based Awards [Member] | Minimum [Member]
Class Of Stock [Line Items]
Payout percentage of performance awards			0%
Performance-Based Awards [Member] | Maximum [Member]
Class Of Stock [Line Items]
Payout percentage of performance awards			200%
2018 ESPP [Member]
Class Of Stock [Line Items]
Number of shares available for sale under employee stock purchase plan	3,667,869		3,667,869
Percentage of price of common stock purchased			85%
Maximum percentage of employee's compensation to purchase common stock	15%		15%
2023 Plan [Member] | Performance-Based Awards [Member]
Class Of Stock [Line Items]
Number of shares that remain available for grant	6,768,539		6,768,539
2023 Plan [Member] | Performance-Based Awards [Member] | Maximum [Member]
Class Of Stock [Line Items]
Number of shares that remain available for grant	6,292,756		6,292,756
Class A Common Stock [Member]
Class Of Stock [Line Items]
Stock repurchase program authorized amount					$ 500
Class A Common Stock [Member] | 2018 ESPP [Member]
Class Of Stock [Line Items]
Number of shares available for sale under employee stock purchase plan	5,000,000		5,000,000
Class A Common Stock [Member] | 2023 Plan [Member]
Class Of Stock [Line Items]
Number of shares reserved for issuance	7,500,000		7,500,000

Stockholders Equity and Stock_4

Stockholders Equity and Stock Compensation - Summary of Stock Repurchase Activities (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Shares repurchased	579,475	635,712	1,255,665	1,287,486
Average cost per share	$ 51.79	$ 38.12	$ 47.8	$ 38.24
Total cost of shares repurchased (in thousands)	$ 30,012	$ 24,232	$ 60,026	$ 49,232

Stockholders Equity and Stock_5

Stockholders Equity and Stock Compensation - Summary of Stock-Based Instruments (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	1,127,940
Weighted-Average Grant-Date Fair Value, shares	$ 47.06
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	885,490	1,314,850
Weighted-Average Grant-Date Fair Value, shares	$ 45.83	$ 38.57
Performance-Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	121,225	116,250
Weighted-Average Grant-Date Fair Value, shares	$ 43.34	$ 42.46
Market-Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	121,225	116,250
Weighted-Average Grant-Date Fair Value, shares	$ 59.71	$ 58.85

Stockholders Equity and Stock_6

Stockholders Equity and Stock Compensation - Summary of Unvested Shares (Detail)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Unvested, Shares, Beginning of Period | shares	3,423,902
Granted, Shares | shares	1,127,940
Vested, Shares | shares	(938,237)
Cancelled, Shares | shares	(37,000)
Unvested, Shares, End of Period | shares	3,576,605
Unvested, Weighted Average Grant-Date Fair Value, Beginning of Period | $ / shares	$ 40.62
Granted, Weighted Average Grant-Date Fair Value | $ / shares	47.06
Vested, Weighted Average Grant-Date Fair Value | $ / shares	38.96
Cancelled, Weighted Average Grant-Date Fair Value | $ / shares	40.63
Unvested, Weighted Average Grant-Date Fair Value, End of Period | $ / shares	$ 43.08

Earnings Per Share - Summary of

Earnings Per Share - Summary of Calculation of EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss)	$ 152,759	$ 90,404	$ 313,202	$ 211,627
Weighted-average common shares outstanding, basic	154,970	155,941	155,055	155,969
Dilutive effect of nonvested shares	1,601	807	1,599	1,105
Weighted-average common shares outstanding, diluted	156,571	156,748	156,654	157,074
Anti-dilutive common shares excluded above	12	67	14	37
Net earnings per share attributable to Skechers U.S.A., Inc.
Basic	$ 0.99	$ 0.58	$ 2.02	$ 1.36
Diluted	$ 0.98	$ 0.58	$ 2	$ 1.35

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule Of Income Taxes [Line Items]
U.S. federal and state statutory rate			25%
Effective tax rate	17.70%	21.30%	18.10%	20.60%
Non-U.S jurisdictions [Member] | Minimum [Member]
Schedule Of Income Taxes [Line Items]
Statutory federal rate			0%
Non-U.S jurisdictions [Member] | Maximum [Member]
Schedule Of Income Taxes [Line Items]
Statutory federal rate			35%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Related Party Transactions [Abstract]
Contributions to Skechers Foundation for various charitable purposes	$ 1	$ 0.5	$ 1	$ 1

Segment and Geographic Inform_3

Segment and Geographic Information - Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Sales	$ 2,012,516	$ 1,867,804	$ 4,014,444	$ 3,687,398
Gross profit	$ 1,060,524	$ 897,579	$ 2,039,103	$ 1,721,742
Gross margin	52.70%	48.10%	50.80%	46.70%
Identifiable assets	$ 7,107,657		$ 7,107,657		$ 6,893,487
Additions to property, plant and equipment	76,212	$ 74,113	147,425	$ 163,511
Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	1,073,019	1,140,325	2,367,576	2,391,631
Gross profit	$ 431,551	$ 414,479	$ 943,550	$ 869,439
Gross margin	40.20%	36.30%	39.90%	36.40%
Identifiable assets	$ 3,575,560		$ 3,575,560		3,682,860
Additions to property, plant and equipment	55,916	$ 49,965	107,432	$ 114,663
Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	939,497	727,479	1,646,868	1,295,767
Gross profit	$ 628,973	$ 483,100	$ 1,095,553	$ 852,303
Gross margin	66.90%	66.40%	66.50%	65.80%
Identifiable assets	$ 3,532,097		$ 3,532,097		$ 3,210,627
Additions to property, plant and equipment	$ 20,296	$ 24,148	$ 39,993	$ 48,848

Segment and Geographic Inform_4

Segment and Geographic Information - Geographic Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Sales	$ 2,012,516	$ 1,867,804	$ 4,014,444	$ 3,687,398
Property, plant and equipment, net
Property, plant and equipment, net	1,417,225		1,417,225		$ 1,345,370
Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	1,073,019	1,140,325	2,367,576	2,391,631
Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	939,497	727,479	1,646,868	1,295,767
Domestic [Member]
Segment Reporting Information [Line Items]
Sales	801,846	840,549	1,542,712	1,618,566
Property, plant and equipment, net
Property, plant and equipment, net	901,797		901,797		870,924
Domestic [Member] | Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	390,783	521,041	832,685	1,059,610
Domestic [Member] | Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	411,063	319,508	710,027	558,956
Americas (AMER) [Member]
Segment Reporting Information [Line Items]
Sales	1,027,006	1,033,879	1,972,936	1,980,765
Europe, Middle East & Africa (EMEA) [Member]
Segment Reporting Information [Line Items]
Sales	433,351	374,566	967,845	815,767
Asia Pacific (APAC) [Member]
Segment Reporting Information [Line Items]
Sales	552,159	459,359	1,073,663	890,866
China Operational Loans [Member]
Segment Reporting Information [Line Items]
Sales	302,401	254,917	584,354	527,948
Property, plant and equipment, net
Property, plant and equipment, net	280,463		280,463		264,422
International [Member]
Segment Reporting Information [Line Items]
Sales	1,210,670	1,027,255	2,471,732	2,068,832
Property, plant and equipment, net
Property, plant and equipment, net	515,428		515,428		$ 474,446
International [Member] | Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	682,236	619,284	1,534,891	1,332,021
International [Member] | Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	$ 528,434	$ 407,971	$ 936,841	$ 736,811

Segment and Geographic Inform_5

Segment and Geographic Information - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) Customer	Jun. 30, 2022 USD ($) Customer	Jun. 30, 2023 USD ($) Customer	Jun. 30, 2022 USD ($) Customer	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Goodwill	$ 101,483		$ 101,483		$ 93,497
Provision for expected credit losses			35,169	$ 9,542
Wholesale [Member]
Segment Reporting Information [Line Items]
Goodwill	101,500		101,500		93,500
International [Member]
Segment Reporting Information [Line Items]
Net assets held outside the United States	4,800,000		4,800,000		$ 4,400,000
Provision for expected credit losses	$ 400	$ 700	$ 1,100	$ 1,000
Sales [Member] | Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Number of largest customers | Customer	5	5	5	5
Sales [Member] | Customer Concentration Risk [Member] | Five Largest Customers [Member]
Segment Reporting Information [Line Items]
Percentage of concentration risk	8%	11.10%	7.80%	10.20%

Segment and Geographic Inform_6

Segment and Geographic Information - Summary of Accounts Receivables Excluding the Allowance for Bad Debts and Chargebacks (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Domestic [Member]
Segment Reporting Information [Line Items]
Accounts receivable	$ 331,663	$ 310,138
International [Member]
Segment Reporting Information [Line Items]
Accounts receivable	$ 677,039	$ 597,621

Segment and Geographic Inform_7

Segment and Geographic Information - Company's Top Five Manufacturers Produced (Detail) - Cost of Goods, Total [Member] - Supplier Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Manufacturer One [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	17.10%	16.10%	19.80%	16.90%
Manufacturer Two [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	7.10%	6.30%	6.50%	5.60%
Manufacturer Three [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	6.80%	6.10%	6.50%	5.60%
Manufacturer Four [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	6.10%	6%	5.70%	5.10%
Manufacturer Five [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	5.50%	5%	5.20%	4.70%
Top Five Manufacturers [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	42.60%	39.50%	43.70%	37.90%

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands	May 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 101,483	$ 93,497
Other net assets		$ 131,013	$ 83,094
Sports Connection Holdings Aps [Member]
Business Acquisition [Line Items]
Company acquired equity interest	100%
Business combination, consideration transferred	$ 84,000
Business combination, cash payments	74,800
Business combination, settlement of pre-existing receivables	1,700
Business combination, intangible assets acquired	54,400
Goodwill	8,000
Other net assets	$ 21,600
Intangible assets, estimated life	7 years
Sports Connection Holdings Aps [Member] | Maximum [Member]
Business Acquisition [Line Items]
Business combination, contingent consideration payable	$ 7,500
Sports Connection Holdings Aps [Member] | General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related costs	$ 1,400