Skechers U.S.A. (SKX) 10-K 28 Feb 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 21, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	SKX
Entity Registrant Name	SKECHERS USA INC
Entity Central Index Key	0001065837
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Document Financial Statement Error Correction [Flag]	false
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Security Exchange Name	NYSE
Entity File Number	001-14429
Entity Incorporation, State or Country Code	DE
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
Document Annual Report	true
Document Transition Report	false
Entity Public Float			$ 7.3
ICFR Auditor Attestation Flag	true
Auditor Name	BDO USA, P.C.
Auditor Location	Los Angeles, California
Auditor Firm ID	243
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement issued in connection with the 2024 Annual Meeting of the Stockholders of the registrant are incorporated by reference into Part III.
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		133,094,103
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		20,181,683

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 1,189,910	$ 615,733
Short-term investments	72,595	102,166
Trade accounts receivable, less allowances of $57,867 and $59,472	860,300	848,287
Other receivables	82,253	86,036
Inventory	1,525,409	1,818,016
Prepaid expenses and other	222,137	176,035
Total current assets ($1,252,372 and $1,014,962 related to VIEs)	3,952,604	3,646,273
Property, plant and equipment, net	1,506,690	1,345,370
Operating lease right-of-use assets	1,276,171	1,200,565
Deferred tax assets	450,574	454,190
Long-term investments	123,996	70,498
Goodwill	101,230	93,497
Other assets, net	136,086	83,094
Total non-current assets ($641,879 and $598,973 related to VIEs)	3,594,747	3,247,214
TOTAL ASSETS	7,547,351	6,893,487
Current liabilities
Accounts payable	1,008,001	957,384
Accrued expenses	320,105	294,143
Operating lease liabilities	274,296	238,694
Current installments of long-term borrowings	46,571	103,184
Short-term borrowings	11,894	19,635
Total current liabilities ($600,337 and $568,158 related to VIEs)	1,660,867	1,613,040
Long-term operating lease liabilities	1,108,110	1,063,672
Long-term borrowings	242,944	216,488
Deferred tax liabilities	12,594	8,656
Other long-term liabilities	122,794	120,045
Total non-current liabilities ($329,219 and $293,726 related to VIEs)	1,486,442	1,408,861
Total liabilities	3,147,309	3,021,901
Commitments and contingencies (Note 7)	0	0
Stockholders’ equity
Preferred Stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding
Additional paid-in capital	295,847	403,799
Accumulated other comprehensive loss	(73,388)	(84,897)
Retained earnings	3,796,730	3,250,931
Skechers U.S.A., Inc. equity	4,019,342	3,569,988
Noncontrolling interests	380,700	301,598
Total stockholders' equity	4,400,042	3,871,586
TOTAL LIABILITIES AND EQUITY	7,547,351	6,893,487
Class A Common Stock [Member]
Stockholders’ equity
Common Stock	133	134
Class B Common Stock [Member]
Stockholders’ equity
Common Stock	$ 20	$ 21

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade accounts receivable, allowances	$ 57,867	$ 59,472
Assets, Current	3,952,604	3,646,273
Assets, Noncurrent	3,594,747	3,247,214
Liabilities, Current	1,660,867	1,613,040
Liabilities, Noncurrent	$ 1,486,442	$ 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]
Assets, Current	$ 1,252,372	$ 1,014,962
Assets, Noncurrent	641,879	598,973
Liabilities, Current	600,337	568,158
Liabilities, Noncurrent	$ 329,219	$ 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	132,837,000	134,473,000
Common Stock, shares outstanding	132,837,000	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	20,182,000	20,810,000
Common Stock, shares outstanding	20,182,000	20,810,000

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Sales	$ 8,000,342	$ 7,444,550	$ 6,310,187
Cost of sales	3,847,938	3,929,193	3,185,816
Gross profit	4,152,404	3,515,357	3,124,371
Operating expenses
Selling	676,890	583,626	499,532
General and administrative	2,690,728	2,385,061	2,026,652
Total operating expenses	3,367,618	2,968,687	2,526,184
Earnings from operations	784,786	546,670	598,187
Total other income (expense)	16,086	(24,413)	(28,430)
Earnings before income taxes	800,872	522,257	569,757
Income tax expense (benefit)	150,949	93,095	(245,875)
Net earnings	649,923	429,162	815,632
Less: Net earnings attributable to noncontrolling interest	104,124	56,134	74,129
Net earnings attributable to Skechers U.S.A., Inc.	$ 545,799	$ 373,028	$ 741,503
Net earnings per share attributable to Skechers U.S.A., Inc.
Basic	$ 3.53	$ 2.40	$ 4.77
Diluted	$ 3.49	$ 2.38	$ 4.73
Weighted-average shares used in calculating net earnings per share attributable to Skechers U.S.A., Inc.
Basic	154,533	155,627	155,539
Diluted	156,256	156,608	156,794

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 649,923	$ 429,162	$ 815,632
Other comprehensive income, net of tax
Net unrealized gain (loss) on derivative contract	(3,888)	9,787	3,372
Gain (loss) on foreign currency translation adjustment	11,241	(53,552)	(22,141)
Comprehensive income	657,276	385,397	796,863
Less: Comprehensive income attributable to noncontrolling interests	99,968	48,190	76,398
Comprehensive income attributable to Skechers U.S.A., Inc.	$ 557,308	$ 337,207	$ 720,465

Consolidated Statements of Equi

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, 2020	$ 2,725,663			$ 134	$ 21	$ 372,165	$ (27,285)	$ 2,136,400	$ 2,481,435	$ 244,228
Beginning Balance, Shares at Dec. 31, 2020				133,618,000	21,016,000
Net earnings	815,632							741,503	741,503	74,129
Foreign currency translation adjustment	(22,141)						(21,038)		(21,038)	(1,103)
Contributions from noncontrolling interests	6,731									6,731
Distributions to noncontrolling interests	(41,557)									(41,557)
Purchase of noncontrolling interest	(9,928)					(6,856)			(6,856)	(3,072)
Net unrealized gain (loss) on derivative contract	3,372									3,372
Stock compensation expense	60,108					60,108			60,108
Proceeds from the employee stock purchase plan	7,276					7,276			7,276
Proceeds from the employee stock purchase plan, Shares				226,000
Shares issued under the incentive award plan				$ 1		(1)
Shares issued under the incentive award plan, Shares				1,252,000
Shares redeemed for employee tax withholdings	(3,084)					(3,084)			(3,084)
Shares redeemed for employee tax withholdings, Shares				(66,000)
Conversion of Class B Common Stock into Class A Common Stock, Shares				77,000	(77,000)
Ending Balance at Dec. 31, 2021	3,542,072			$ 135	$ 21	429,608	(48,323)	2,877,903	3,259,344	282,728
Ending Balance, Shares at Dec. 31, 2021				135,107,000	20,939,000
Net earnings	429,162							373,028	373,028	56,134
Foreign currency translation adjustment	(53,552)						(36,574)		(36,574)	(16,978)
Distributions to noncontrolling interests	(29,320)									29,320
Net unrealized gain (loss) on derivative contract	9,787					753			753	9,034
Stock compensation expense	59,874					59,874			59,874
Proceeds from the employee stock purchase plan	8,131					8,131			8,131
Proceeds from the employee stock purchase plan, Shares				243,000
Shares issued under the incentive award plan	1			$ 2		(1)			1
Shares issued under the incentive award plan, Shares				1,424,000
Shares redeemed for employee tax withholdings	(20,324)			$ (1)		(20,323)			(20,324)
Shares redeemed for employee tax withholdings, Shares				(503,000)
Repurchases of common stock	$ (74,245)			$ (2)		(74,243)			(74,245)
Repurchases of common stock, Shares	(1,926,781)			(1,927,000)
Conversion of Class B Common Stock into Class A Common Stock, Shares				129,000	(129,000)
Ending Balance at Dec. 31, 2022	$ 3,871,586			$ 134	$ 21	403,799	(84,897)	3,250,931	3,569,988	301,598
Ending Balance, Shares at Dec. 31, 2022		134,473,000	20,810,000	134,473,000	20,810,000
Net earnings	649,923							545,799	545,799	104,124
Foreign currency translation adjustment	11,241						11,509		11,509	(268)
Distributions to noncontrolling interests	(17,719)									(17,719)
Purchase of noncontrolling interest	(6,000)					(2,853)			(2,853)	(3,147)
Net unrealized gain (loss) on derivative contract	(3,888)									(3,888)
Stock compensation expense	67,960					67,960			67,960
Proceeds from the employee stock purchase plan	9,445					9,445			9,445
Proceeds from the employee stock purchase plan, Shares				242,000
Shares issued under the incentive award plan				$ 1		(1)
Shares issued under the incentive award plan, Shares				1,120,000
Shares redeemed for employee tax withholdings	(22,442)					(22,442)			(22,442)
Shares redeemed for employee tax withholdings, Shares				(429,000)
Repurchases of common stock	$ (160,064)			$ (3)		(160,061)			(160,064)
Repurchases of common stock, Shares	(3,197,345)			(3,197,000)
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				628,000	(628,000)
Ending Balance at Dec. 31, 2023	$ 4,400,042			$ 133	$ 20	$ 295,847	$ (73,388)	$ 3,796,730	$ 4,019,342	$ 380,700
Ending Balance, Shares at Dec. 31, 2023		132,837,000	20,182,000	132,837,000	20,182,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net earnings	$ 649,923	$ 429,162	$ 815,632
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	181,925	153,716	139,577
Provision for bad debts and returns	48,539	37,806	62,771
Stock compensation	67,960	59,874	60,108
Deferred income taxes	(2,370)	(6,489)	(387,250)
Net foreign currency adjustments	(18,492)	(2,366)	2,154
Changes in operating assets and liabilities
Receivables	(3,416)	(179,734)	(154,248)
Inventory	324,193	(389,026)	(458,002)
Other assets	(98,041)	(33,007)	(110,464)
Accounts payable	41,565	107,199	135,140
Other liabilities	39,378	61,190	106,734
Net cash provided by operating activities	1,231,164	238,325	212,152
Cash flows from investing activities
Capital expenditures	(323,722)	(358,992)	(309,674)
Acquisitions, net of cash acquired	(70,370)
Purchases of investments	(160,233)	(70,837)	(215,164)
Proceeds from sales and maturities of investments	136,306	142,343	180,172
Net cash used in investing activities	(418,019)	(287,486)	(344,666)
Cash flows from financing activities
Net proceeds from the employee stock purchase plan	9,445	8,131	7,276
Repayments on long-term borrowings	(78,256)	(95,410)	(487,441)
Proceeds from long-term borrowings	48,100	74,670	96,187
Net proceeds from (repayments on) short-term borrowings	(7,741)	18,439	(2,102)
Payments for employee taxes related to stock compensation	(22,442)	(20,324)	(3,084)
Repurchases of common stock	(160,064)	(74,245)
Purchase of noncontrolling interest	(6,000)		(9,928)
Contributions from noncontrolling interests			6,731
Distributions to noncontrolling interests	(17,719)	(29,320)	(41,557)
Net cash used in financing activities	(234,677)	(118,059)	(433,918)
Effect of exchange rates on cash and cash equivalents	(4,291)	(13,330)	(8,111)
Net change in cash and cash equivalents	574,177	(180,550)	(574,543)
Cash and cash equivalents at beginning of the period	615,733	796,283	1,370,826
Cash and cash equivalents at end of the period	1,189,910	615,733	796,283
Cash paid during the period for:
Interest	21,871	19,293	14,579
Income taxes, net	147,095	113,933	125,082
Non-cash transactions:
Right-of-use assets exchanged for lease liabilities	343,438	$ 327,022	$ 356,855
Non-cash consideration for acquired business	$ 8,873

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 545,799	$ 373,028	$ 741,503

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(1) Summary of Significant Accounting Policies BASIS OF PRESENTATION Skechers U.S.A., Inc. and subsidiaries (the “Company”) designs, develops, markets and distributes footwear, apparel and accessories. The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) as codified in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”). All significant intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications of prior period balances have been made to conform to current presentation. USE OF ESTIMATES The Company has made a number of estimates and assumptions relating to the reporting of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with GAAP. Significant areas requiring the use of estimates relate primarily to allowances for bad debts, returns and customer chargebacks, inventory reserves, litigation reserves and valuation of deferred income taxes. Actual results could differ materially from those estimates. REVENUE RECOGNITION The Company derives income from the sale of footwear, apparel and accessories and royalties earned from licensing the Skechers brand. The Company recognizes sales revenue, net of estimated returns and excluding sales and value added taxes. Revenue is recognized at point of sale or upon shipment, the point in time where control transfers to the customer. Wholesale sales are recognized upon shipment. Direct-to-consumer sales are recognized at the point of sale for transactions with customers at the Company’s retail stores and recognized upon shipment for sales made through its websites. Sales are reduced by an estimate of customer merchandise returns, which is calculated based on historical experience. The Company reserves for potential disputed amounts or chargebacks from its customers. The Company’s chargeback reserve is based on a factors such as historical trends, customer behavior and nature of the chargeback. ALLOWANCE FOR BAD DEBTS The Company provides a reserve for estimated losses that may result from its customers’ inability to pay. The Company determines the amount of the reserve by analyzing known uncollectible accounts, aged receivables, historical losses and its customers’ credit-worthiness. Allowances for bad debts are recorded to general and administrative expenses. WAREHOUSE AND DISTRIBUTION COSTS The Company’s distribution network-related costs are included in general and administrative expenses. Distribution expenses, including the functions of purchasing, receiving, inspecting, allocating, surface transportation, warehousing and packaging product totaled $ 565.1 million, $ 538.7 million and $ 376.5 million for 2023, 2022 and 2021 . PRODUCT DESIGN AND DEVELOPMENT COSTS The Company charges product design and development costs to general and administrative expenses. Aggregate product design and development costs were approximately $ 27.9 million, $ 28.1 million, and $ 24.6 million during the years ended December 31, 2023, 2022 and 2021 . ADVERTISING Advertising costs are expensed in the period in which an advertisement first runs, or over the life of an endorsement contract. Advertising expense for the years ended December 31, 2023, 2022 and 2021 was approximately $ 562.1 million, $ 473.7 million and $ 375.0 million. Prepaid advertising costs were $ 24.3 million at December 31, 2023 , consisting of $ 13.8 million short-term and $ 10.5 million long-term, which is included in other assets, net, in the Company’s consolidated balance sheets. Prepaid amounts represent the unamortized portion of endorsement contracts, advertising in trade publications and media productions created, but not run. INCOME TAXES The Company recognizes deferred tax liabilities for taxable temporary differences and deferred tax assets for deductible temporary differences and operating loss carry‑forwards using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit or expense is recognized as a result of changes in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all of any deferred tax assets will not be realized. CASH AND CASH EQUIVALENTS Cash and cash equivalents include short-term investments, which are highly liquid investments with maturities of three months or less when purchased. INVENTORY Inventory is stated at the lower of cost (based on the first-in, first-out method) or net realizable value. Cost of product includes shipping and handling fees. The Company estimates losses from obsolete or slow-moving inventory and reserves the cost of inventory at the time such determinations are made. Expense associated with inventory reserves is recognized in cost of sales. PROPERTY, PLANT, AND EQUIPMENT Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. The Company reviews stores for impairment annually or when facts and circumstances indicate that the carrying values may be impaired. The Company did not record material impairment charges during the years ended December 31, 2023, 2022 or 2021 . The principal estimated useful lives are as follows: Buildings 20 to 40 years Building improvements 10 to 20 years Furniture, fixtures and equipment 5 to 20 years Leasehold improvements Shorter of useful life or remaining lease term GOODWILL Business acquisitions are accounted for under the acquisition method by assigning the purchase price to tangible and intangible assets acquired and liabilities assumed. Assets acquired and liabilities assumed are recorded at their fair values and the excess of the purchase price over the amounts assigned is recorded as goodwill. As of December 31, 2023 and December 31, 2022 , the Company had $ 101.2 million and $ 93.5 million of goodwill included in the Wholesale segment. The increase of $ 7.7 million of goodwill included in the Wholesale segment relates to the acquisition of Sports Connection. Goodwill is not amortized but is tested at least annually in the fourth quarter for impairment or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. See Note 14 – Business Combinations of the Consolidated Financial Statements for additional information. INTANGIBLE ASSETS Within other assets, net, the Company has amortizable intangible assets consisting of reacquired rights with a gross carrying value of $ 108.4 million and $ 49.1 million and accumulated amortization of $ 42.2 million and $ 25.9 million as of December 31, 2023 and December 31, 2022 . Purchased intangible assets with finite lives are amortized over their estimated useful lives. Amortization expense related to amortizable intangible assets were $ 11.4 million, $ 6.9 million and $ 6.9 million for years ended December 31, 2023, 2022 and 2021 . Future amortization expense related to amortizable intangible assets is expected to be approximately $ 14.6 million per year for each of the years 2024 and 2025, $ 9.7 million for 2026, $ 8.1 million for each of the years 2027 and 2028, and $ 11.1 million thereafter. The weighted-average amortization period for amortizable reacquired rights is 7 years. NONCONTROLLING INTERESTS The Company established several joint ventures either to distribute the Company’s products 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 consolidated financial statements, even though the Company may not hold a majority equity interest. The Company continues to reassess these relationships based on events and circumstances. 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. In December 2023, the Company increased the ownership interest related to the Israel joint venture from 51 % to 75 % for $ 6.0 million. In March 2021, the minority interest related to the Hong Kong joint venture was purchased for $ 10.0 million. The change in the Company’s ownership of the Hong Kong and Israel entities continues to be included in the Company’s consolidated financial statements. FOREIGN CURRENCY TRANSLATION The Company’s reporting currency is the U.S. dollar. Certain international operations use the respective local currency as their functional currency, while others use the U.S. dollar as their functional currency. Translation adjustments for subsidiaries with non-U.S. dollar functional currencies are included in other comprehensive income. Foreign currency transaction gains (losses), resulting from exchange rate fluctuations, on transactions denominated in a currency other than the functional currency are reported in earnings. Assets and liabilities of subsidiaries with non-U.S. dollar functional currencies are translated at the balance sheet date exchange rate. Net earnings and cash flow items are translated at the weighted-average exchange rates during the period. Translations of intercompany loans of a long-term investment nature are included as a component of translation adjustment in other comprehensive income. 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, U.S. Treasury securities and 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 (see Note 6 – Financial Commitments) classified as other assets, net at both December 31, 2023 and 2022. 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. As of December 31, 2023 , all counterparties to the interest rate swap had performed in accordance with their contractual obligations. RECENT ACCOUNTING PRONOUNCEMENTS In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. Among other new disclosure requirements, ASU 2023-07 requires companies to disclose significant segment expenses that are regularly provided to the chief operating decision maker. ASU 2023-07 will be effective for annual periods beginning on January 1, 2024 and interim periods beginning on January 1, 2025. ASU 2023-07 must be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the disclosure impact of ASU 2023-07. In December 2023, the FASB issued ASU No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 requires companies to disclose, on an annual basis, specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires companies to disclose additional information about income taxes paid. ASU 2023-09 will be effective for annual periods beginning January 1, 2025 and will be applied on a prospective basis with the option to apply the standard retrospectively. We are evaluating the disclosure impact of ASU 2023-09; however, the standard will not have an impact on the company’s consolidated financial position, results of operations and/or cash flows. 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 6 - 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 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	12 Months Ended
	Dec. 31, 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 December 31, 2023 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 972,278 $ 972,278 $ 972,278 $ — $ — Level 1 Money market funds 176,317 176,317 176,317 — — U.S. Treasury securities 39,769 39,769 29,942 9,827 — Mutual funds N/A 8,535 — — 8,535 Total level 1 216,086 224,621 206,259 9,827 8,535 Level 2 Corporate notes and bonds 97,795 97,795 9,374 50,949 37,472 Asset-backed securities 11,159 11,159 — — 11,159 U.S. Agency securities 27,269 27,269 1,999 11,819 13,451 Total level 2 136,223 136,223 11,373 62,768 62,082 Total $ 1,324,587 $ 1,333,122 $ 1,189,910 $ 72,595 $ 70,617 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 Consolidated Balance Sheets are company owned life insurance contracts of $ 53.4 million and $ 46.5 million as of December 31, 2023 and December 31, 2022 . Interest income was $ 24.8 million, $ 6.0 million, and $ 3.3 million for years ended December 31, 2023, 2022 and 2021. 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.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	(3) Leases The Company regularly enters into non-cancellable operating leases for retail stores, distribution facilities, offices, showrooms and automobiles. Retail stores typically have initial terms ranging from 5 to 10 years and other real estate or facility leases may have initial lease terms of up to 25 years. The Company’s leases are recorded as operating lease right-of-use (“ROU”) assets and operating leases liabilities. Operating lease liabilities are recognized based on the present value of the fixed portion of lease payments over the lease term at the commencement date. Net present value is calculated using an incremental borrowing rate based on a combination of market-based factors, such as market quoted forward yield curves and Company specific factors, such as lease size and duration. Many of the Company’s real estate leases include options to extend and are included in the lease obligations when considered reasonably certain. ROU assets are recognized based on operating lease liabilities reduced by lease incentives and initial direct costs incurred. Fixed lease cost is recognized on a straight-line basis over the lease term. The Company’s real estate leases may require additional payments for percentage rent, real estate taxes, or other occupancy-related costs. Percentage rent, a variable cost, is recognized in the consolidated financial statements when incurred and is based on the specific terms in the lease agreement. Real estate taxes and other occupancy-related costs are non-lease components. Operating lease cost and other information: Year Ended December 31, (in thousands) 2023 2022 2021 Fixed lease cost $ 361,894 $ 307,265 $ 290,509 Variable lease cost 11,424 10,803 5,354 Operating cash flows used for leases 359,727 303,721 286,411 Weighted-average remaining lease term 5.43 years 5.52 years 5.95 years Weighted-average discount rate 4.16 % 3.12 % 3.07 % The following table presents future lease payments as of December 31, 2023: Year (in thousands) Operating Leases 2024 $ 327,964 2025 289,527 2026 235,132 2027 194,505 2028 145,699 Thereafter 409,751 Total lease payments 1,602,578 Less: Imputed interest ( 220,172 ) Operating lease liabilities $ 1,382,406 As of December 31, 2023, the Company has operating leases, primarily for new retail stores, that have not yet commenced which will generate additional ROU assets of $ 45.5 million.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	(4) Property, Plant and Equipment Property, plant and equipment is summarized as follows: As of December 31, (in thousands) 2023 2022 Land $ 122,433 $ 122,433 Buildings and improvements 720,663 634,683 Furniture, fixtures and equipment 954,482 803,043 Leasehold improvements 669,886 612,610 Total property, plant and equipment 2,467,464 2,172,769 Less accumulated depreciation and amortization 960,774 827,399 Property, plant and equipment, net $ 1,506,690 $ 1,345,370 Depreciation expense was $ 156.5 million, $ 131.3 million and $ 122.2 million for the years ended December 31, 2023, 2022 and 2021 as calculated using the straight-line method.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	(5) Accrued Expenses Accrued expenses at December 31, 2023 and 2022 are summarized as follows: As of December 31, (in thousands) 2023 2022 Accrued payroll, taxes, and other $ 166,132 $ 143,664 Return reserve liability 80,968 60,482 Accrued inventory purchases 73,005 89,997 Accrued expenses $ 320,105 $ 294,143

Financial Commitments

Financial Commitments	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Financial Commitments	(6) Financial Commitments The Company had $ 32.5 million and $ 2.7 million of outstanding letters of credit as of December 31, 2023 and December 31, 2022, and approximately $ 11.9 million and $ 19.6 million in short-term borrowings as of December 31, 2023 and December 31, 2022. Interest expense for the years ended December 31, 2023, 2022 and 2021 was $ 22.4 million, $ 19.7 million and $ 14.9 million. Long-term borrowings were as follows: As of December 31, (in thousands) 2023 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 — 41,329 China Distribution Center Expansion Construction Loan 40,330 14,507 China Operational Loans 46,228 54,361 Other 435 7,872 Subtotal 289,515 319,672 Less: Current installments 46,571 103,184 Total long-term borrowings $ 242,944 $ 216,488 Revolving Credit Facility The Company maintains a revolving credit facility with Bank of America, N.A. which allows for an unsecured credit facility to $ 750.0 million, which may be increased 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 expiration date is December 15, 2026 . The Company may use the proceeds for working capital and other lawful corporate purposes. Borrowings and letters of credit bear interest, at the Company’s option, at a rate equal to (a) Term SOFR plus an applicable margin between 1.000 % and 1.500 % based upon the Company’s Total Adjusted Net Leverage Ratio or (b) a base rate (defined as the highest of (i) the Federal Funds Rate plus 0.50 %, (ii) the Bank of America prime rate, (iii) Term SOFR plus 1.00 %, and (iv) 1.00 %) plus an applicable margin between 0 % and 0.500 % based upon the Company’s Total Adjusted Net Leverage Ratio. As of December 31, 2023 , there was no outstanding balance under this revolving credit facility. The unused credit capacity was $ 746.9 million and $ 747.3 million as of December 31, 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 December 31, 2023. Our subsidiary in India had a line of credit of $ 42.4 million and $ 34.1 million at December 31, 2023 and December 31, 2022, and a weighted average interest rate of 8.0 % for the year ended December 31, 2023 . Borrowings on the line of credit are due in 180 days . The balances of $ 6.0 million and $ 14.5 million were recorded as short-term borrowings as of December 31, 2023 and December 31, 2022. 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. 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. 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 agreement without exchange of the underlying notional amount. As of both December 31, 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 On April 3, 2020, the JV, through HF Logistics-SKX T2, LLC, a wholly-owned subsidiary of the JV (“HF-T2”), entered into a construction loan agreement up to $ 73.0 with Bank of America, N.A. to expand the North American distribution center. The maturity date is April 3, 2025 . The interest rate is based on the Bloomberg Short-Term Bank Yield Index Daily Floating Rate 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 was 6.86 % during the year ended December 31, 2023. The obligations of the JV are guaranteed by TGD Holdings I, LLC, which is an affiliate of HF. China Distribution Center Construction Loan The Company had a loan agreement to finance the construction of its distribution center in China which matured on September 28, 2023 . The interest rate was 4.00 % at December 31, 2022. 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 December 31, 2023 was 3.40 % and may increase or decrease over the life of the loan, and is 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 at December 31, 2023 was $ 46.2 million with interest rates ranging from 2.75 % to 2.90 % per annum, payable at terms agreed by the lender and at December 31, 2022, was $ 54.4 million with interest rates ranging from 2.90 % to 3.41 % per annum. As of December 31, 2023, the outstanding balances is classified as current borrowings in the Company’s consolidated balance sheets. The following table presents the future principal payments required under the Company’s debt obligations, discussed above: Year (in thousands) Maturities 2024 $ 46,571 2025 202,615 2026 5,133 2027 5,133 2028 5,133 Thereafter 24,930 $ 289,515

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(7) Commitments and Contingencies PRODUCT AND OTHER FINANCING The Company finances production activities in part through the use of interest-bearing open purchase arrangements with certain of its international manufacturers. These arrangements currently bear interest at rates between 0.0 % and 0.4 % for 30 - to 60 -day financing. The amounts included in accounts payable and outstanding under these arrangements were $ 298.9 million and $ 345.4 million at December 31, 2023 and 2022. Interest expense incurred by the Company under these arrangements totaled $ 6.5 million in 2023, $ 6.1 million in 2022, and $ 6.5 million in 2021. The Company has open purchase commitments with its foreign manufacturers of $ 1.4 billion and warehouse and equipment and corporate construction contracts of $ 168.0 million for the expansion of its distribution centers and corporate headquarters, which are not included in the consolidated balance sheets at December 31, 2023. LITIGATION In accordance with GAAP, the Company records a liability in its 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 consolidated financial statements as of December 31, 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. The Company recognizes legal expense in connection with loss contingencies as incurred.

Stockholders' Equity and Stock

Stockholders' Equity and Stock Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity and Stock Compensation	(8) Stockholders’ Equity and Stock Compensation COMMON STOCK The authorized capital stock of the Company consists of 500 million shares of Class A Common Stock, par value $ 0.001 per share (“Class A Common Stock”), 75 million shares of Class B Common Stock, par value $ 0.001 per share (“Class B Common Stock”), and 10 million shares of Preferred Stock, par value $ 0.001 per share. The Company has two classes of issued and outstanding common stock: Class A Common Stock and Class B Common Stock. Holders of Class A Common Stock and holders of Class B Common Stock have substantially identical rights, including rights with respect to any declared dividends or distributions of cash or property, and the right to receive proceeds on liquidation or dissolution of the Company after payment of the Company’s indebtedness. The two classes have different voting rights, with holders of Class A Common Stock entitled to one vote per share while holders of Class B Common Stock are entitled to ten votes per share on all matters submitted to a vote of stockholders. The Company uses the two-class method for calculating net earnings per share (“EPS”). Basic and diluted net EPS of Class A Common Stock and Class B Common Stock are identical. The shares of Class B Common Stock are convertible at any time at the option of the holder into shares of Class A Common Stock on a share-for-share basis. In addition, shares of Class B Common Stock will be automatically converted into a like number of shares of Class A Common Stock upon transfer to any person or entity who is not a permitted transferee. During the years ended December 31, 2023, 2022 and 2021 certain Class B stockholders converted 627,632 , 128,530 and 77,562 shares, respectively, of Class B Common Stock to Class A Common Stock. 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. The following table provides a summary of the Company’s stock repurchase activities: Year Ended December 31, 2023 2022 Shares repurchased 3,197,345 1,926,781 Average cost per share $ 50.06 $ 38.53 Total cost of shares repurchased (in thousands) $ 160,064 $ 74,245 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 superseded prior plans. Awards issued and outstanding under the prior plan vest in accordance with the original terms. 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 restricted stock, restricted stock units 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. For the year ended December 31, 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 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 December 31, 2023, a total of 6,523,913 shares remain available for grant as equity awards under the 2023 Plan if target levels are achieved for performance-based awards and 5,862,548 available if maximum levels are achieved. The Company issued the following stock-based instruments: Year Ended December 31, 2023 2022 2021 Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Restricted stock 959,690 $ 46.24 1,446,550 $ 38.27 1,201,600 $ 42.88 Performance-based restricted stock 121,225 $ 43.34 116,250 $ 42.46 108,750 $ 38.95 Market-based restricted stock 121,225 $ 59.71 116,250 $ 58.85 108,750 $ 54.34 A summary of the status and changes of the Company’s unvested shares related to the Plan is presented below: Shares Weighted-Average Grant-Date Fair Value Unvested at December 31, 2020 3,112,023 35.06 Granted 1,419,100 43.46 Vested/Released ( 1,252,108 ) 34.36 Cancelled ( 25,699 ) 39.01 Unvested at December 31, 2021 3,253,316 38.97 Granted 1,679,050 39.98 Vested/Released ( 1,423,531 ) 36.13 Cancelled ( 84,933 ) 39.72 Unvested at December 31, 2022 3,423,902 40.62 Granted 1,202,140 47.31 Vested/Released ( 1,119,837 ) 38.76 Cancelled ( 43,500 ) 41.19 Unvested at December 31, 2023 3,462,705 43.54 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. The fair value of such awards is expensed ratably over the performance period and is not adjusted for actual achievement. The Company recognized, as part of general and administrative, compensation expense of $ 65.1 million, $ 57.3 million and $ 57.9 million for grants under the Plan for the years ended December 31, 2023, 2022, and 2021. Related excess tax expense (benefit) on stock compensation recorded in the consolidated statements of earnings, for the years ended December 31, 2023, 2022 and 2021, were $ ( 0.9 ) million, $ 1.3 million, and $ 1.0 million. Nonvested shares generally vest over a graded vesting schedule from one to four years from the date of grant. For grants that have a service requirement, the Company accounts for forfeitures upon occurrence, rather than estimating the probability of forfeiture at the date of grant. Accordingly, the Company recognizes the full grant-date fair value of these awards on a straight-line basis throughout the requisite service period, reversing any expense if, and only if, there is a forfeiture. There was $ 80.4 million of unrecognized compensation cost related to nonvested common shares as of December 31, 2023, which is expected to be recognized over a weighted-average period of 1.34 years. The total fair value of shares vested during the years ended December 31, 2023, 2022 and 2021 was $ 43.4 million, $ 51.4 million and $ 43.1 million. STOCK PURCHASE PLAN As approved by the Company’s stockholders on May 23, 2017, the 2018 Employee Stock Purchase Plan (the “2018 ESPP”) provides a total of 5,000,000 shares of Class A Common Stock for sale. 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 years ended December 31, 2023, 2022 and 2021 , the Company recognized $ 2.9 million, $ 2.6 million, and $ 2.2 million of ESPP stock compensation expense. Under the 2018 ESPP, the Company received approximately $ 9.4 million, $ 8.1 million and $ 7.3 million, and issued 242,166 , 243,166 and 225,665 shares, for the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023 , there were 3,573,580 shares available for sale under the 2018 ESPP.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	(9) 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: Year Ended December 31, (in thousands, except per share data) 2023 2022 2021 Net earnings attributable to Skechers U.S.A., Inc. $ 545,799 $ 373,028 $ 741,503 Weighted-average common shares outstanding, basic 154,533 155,627 155,539 Dilutive effect of nonvested shares 1,723 981 1,255 Weighted-average common shares outstanding, diluted 156,256 156,608 156,794 Anti-dilutive common shares excluded above 5 37 5 Net earnings attributable to Skechers U.S.A., Inc. per common share: Basic $ 3.53 $ 2.40 $ 4.77 Diluted $ 3.49 $ 2.38 $ 4.73

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	(10) Income Taxes The Company’s earnings before income tax expense consists of the following: Year Ended December 31, (in thousands) 2023 2022 2021 U.S. operations $ 16,740 $ ( 48,311 ) $ 71,900 Foreign operations 784,132 570,568 497,857 Earnings before income taxes $ 800,872 $ 522,257 $ 569,757 Income tax consists of the following: Year Ended December 31, (in thousands) 2023 2022 2021 Current Federal $ 16,839 $ 256 $ 34,288 State 7,986 9,564 7,268 Foreign 130,655 84,904 102,062 155,480 94,724 143,618 Deferred Federal ( 2,079 ) 7,043 ( 27,074 ) State ( 4,598 ) ( 1,287 ) ( 4,481 ) Foreign 2,146 ( 7,385 ) ( 357,938 ) ( 4,531 ) ( 1,629 ) ( 389,493 ) Income tax expense (benefit) $ 150,949 $ 93,095 $ ( 245,875 ) Income taxes differ from the statutory tax rates as applied to earnings before income taxes as follows: Year Ended December 31, (in thousands) 2023 2022 2021 Expected income tax expense $ 168,183 $ 109,674 $ 119,649 State income tax, net of federal benefit ( 832 ) ( 1,597 ) ( 172 ) Rate differential on foreign income ( 27,931 ) ( 49,175 ) ( 24,615 ) Change in unrecognized tax benefits 3,841 12,310 11,538 Intra-entity intellectual property transfer — ( 3,232 ) ( 346,776 ) FDII deduction — — ( 10,695 ) Non-deductible compensation 14,397 13,668 8,693 Tax credits ( 6,813 ) ( 7,544 ) ( 7,547 ) Excess tax expense (benefit) on stock compensation ( 854 ) 1,305 976 Benefits provided by the Coronavirus Aid, Relief, and Economic Security Act — — ( 905 ) U.S. tax on foreign earnings 8,180 7,611 — Other ( 5,235 ) 217 ( 927 ) Change in valuation allowance ( 1,987 ) 9,858 4,906 Income tax expense (benefit) $ 150,949 $ 93,095 $ ( 245,875 ) Effective tax rate 18.8 % 17.8 % ( 43.2 )% The Company’s income tax expense (benefit) 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 non-U.S. jurisdictions in which the Company has operations, the applicable statutory rates are generally lower than in the U.S., ranging from 0 % to 35 % . The Company’s income tax expense (benefit) was calculated using the applicable rate for each jurisdiction applied to the Company’s pre-tax earnings (loss) while the Company’s effective tax rate is calculated by dividing income tax expense (benefit) by earnings before income taxes. For 2023 , the effective tax rate was lower than the U.S. federal and state combined statutory rate of approximately 25.1 %, primarily due to tax benefits related to earnings from foreign operations in jurisdictions imposing either lower tax rates on corporate earnings or no corporate income tax. The Company is subject to a tax on global intangible low-taxed income (“GILTI”). GILTI taxes foreign income in excess of a deemed return on tangible assets of foreign corporations and is treated as a period cost. The tax effects of temporary differences giving rise to deferred tax assets and liabilities are presented below: As of December 31, (in thousands) 2023 2022 Deferred tax assets Inventory adjustments $ 9,413 $ 10,810 Accrued expenses 109,510 99,185 Allowances for bad debts and chargebacks 5,648 4,728 Advance payment — 6,339 Intra-entity IP transfer 330,545 343,106 Section 174 Capitalized Costs 43,130 15,721 Loss carryforwards 46,021 50,558 Business credit carryforward 22,571 25,289 Share-based compensation 10,486 7,725 Operating lease liabilities 338,389 317,449 Valuation allowance ( 56,334 ) ( 58,321 ) Total deferred tax assets 859,379 822,589 Deferred tax liabilities Prepaid expenses 3,873 5,073 Right-of-use assets 338,389 317,449 Foreign intangibles 16,116 6,970 Depreciation on property, plant and equipment 63,021 47,563 Total deferred tax liabilities 421,399 377,055 Net deferred tax assets $ 437,980 $ 445,534 At December 31, 2023 , combined foreign net operating loss carry-forwards were approximately $ 157.0 million of which $ 1.2 million expire in 2024 and $ 40.9 million can be carried forward indefinitely. A valuation allowance of $ 56.3 million is recorded for the amount of deferred tax assets which is not likely to be fully utilized. The $ 2.0 million decrease in the valuation allowance primarily relates to decreases in deferred tax assets in certain foreign non-benefited loss jurisdictions. U.S. federal tax credit carry-forward at December 31, 2023 was $ 5.0 million. State tax credit and net operating loss carry-forwards at December 31, 2023 were $ 27.2 million and $ 53.8 million. The state tax credit carries forward indefinitely and the net operating loss carry-forward amounts begin to expire in 2033 . No valuation allowance has been recorded, as the Company believes they will be fully utilized. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: As of December 31, (in thousands) 2023 2022 Beginning balance $ 41,247 $ 66,951 Additions for current year tax positions 4,530 5,345 Additions for prior year tax positions 1,379 4,616 Reductions for prior year tax positions — ( 674 ) Settlement of uncertain tax positions ( 1,722 ) ( 32,954 ) Reductions related to lapse of statute of limitations ( 2,218 ) ( 2,037 ) Ending balance $ 43,216 $ 41,247 Current unrecognized tax benefits are recorded as a reduction in prepaid expense and included in tax expense when recorded. Long-term unrecognized tax benefits are recorded as an increase in long-term taxes payable with a portion included in tax expense and a portion recorded as a reduction in deferred tax liabilities when recorded. If recognized, $ 37.4 million of unrecognized tax benefits would be recorded as a reduction in income tax expense, and $ 5.8 million would be recorded as a net increase in deferred tax liabilities. The amount of income taxes the Company pays is subject to ongoing audits by taxing jurisdictions around the world. The Company’s estimate of the potential outcome of any uncertain tax position is subject to its assessment of relevant risks, facts, and circumstances existing at that time. The Company believes that it has adequately provided for these matters. However, the Company’s future results may include favorable or unfavorable adjustments to its estimates in the period the audits are resolved, which may impact the Company’s effective tax rate. As of December 31, 2023, our U.S. federal tax returns are under investigation for fiscal years ended December 31, 2015, 2018, 2019 and 2020 by the Internal Revenue Service. We are unable to determine the impact of this examination due to the audit process having not been completed. As of December 31, 2023 , the Company’s tax filings are generally subject to examination in most foreign jurisdictions for years ending on or after December 31, 2019, and in several Asian and European tax jurisdictions for years ending on or after December 31, 2013. During the year, the Company reduced the balance of unrecognized tax benefits by $ 2.2 million as a result of expiring statutes and $ 1.7 million from the settlements and decision on a foreign tax ruling. It is reasonably possible that certain foreign statutes will expire and certain domestic audits will be settled during the next twelve months which would reduce the balance of 2023 and prior year unrecognized tax benefits by $ 0.3 million and $ 11.9 million. The Company estimates interest and penalties related to income tax matters which are included in income tax expense (benefits). Amounts were $ 2.3 million, $ ( 1.9 ) million, and $ 3.6 million for the years ended December 31, 2023, 2022, and 2021 . Accrued interest and penalties were $ 6.4 million and $ 4.2 million as of December 31, 2023 and 2022. The Company’s cash and cash equivalents held in the U.S. and cash provided from operations are sufficient to meet the Company’s liquidity needs in the U.S. for the next twelve months. However, the Company may repatriate certain funds held outside the U.S. for which all applicable U.S. and non-U.S. tax has been fully provided as of December 31, 2023 . The Company has provided for the tax impact of expected distributions from its joint venture in China as well as from its subsidiary in Chile to its intermediate parent company in Switzerland. Otherwise, because of the need for cash for operating capital and continued overseas expansion, the Company does not foresee the need for any of its other foreign subsidiaries to distribute funds up to an intermediate foreign parent company in any form of taxable dividend. Under current applicable tax laws, if the Company chooses to repatriate some or all of the funds the Company has designated as indefinitely reinvested outside the U.S., the amount repatriated would not be subject to federal income tax but may be subject to applicable non-U.S. income and withholding taxes, and to certain state income taxes. In addition to certain tax restrictions, our joint venture in China has limitations on its distribution of earnings, as local law currently requires it to maintain $ 27.5 million of its earnings in a statutory reserve.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	(11) Employee Benefit Plans The Company has a 401(k) profit sharing plan covering U.S. employees who are 21 years of age. The Company’s contribution is based on a non-discretionary match as defined by the plan which vests immediately. The Company made contributions of $ 6.5 million, $ 4.2 million, and $ 4.7 million to the plan for the years ended December 31, 2023, 2022, and 2021. The Skechers U.S.A., Inc. Deferred Compensation Plan allows eligible employees to defer compensation up to a maximum amount to a future date on a nonqualified basis. The Plan provides for the Company to make discretionary contributions to participating employees as determined by the Company’s Compensation Committee. No contributions were made for the years ended December 31, 2023, and 2022 and $ 0.1 million was contributed for the year ended December 31, 2021. Deferred compensation is recognized based on the fair value of the participants’ accounts.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	(12) 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 years ended December 31, 2023, 2022, and 2021 , the Company made contributions of $ 2.0 million, $ 2.0 million, and $ 3.0 million to the Foundation. The Company had receivables from officers and employees of $ 0.6 million and $ 1.9 million at December 31, 2023 and 2022 . These amounts relate to travel advances, incidental personal purchases on Company-issued credit cards and employee loans. These receivables are short-term and are expected to be repaid within a reasonable period of time.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment and Geographic Information	(13) 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 Year Ended December 31, (in thousands) 2023 2022 2021 Wholesale sales $ 4,504,776 $ 4,632,429 $ 3,758,640 Gross profit 1,846,819 1,669,276 1,437,517 Gross margin 41.0 % 36.0 % 38.2 % Direct-to-Consumer sales $ 3,495,566 $ 2,812,121 $ 2,551,547 Gross profit 2,305,585 1,846,081 1,686,854 Gross margin 66.0 % 65.6 % 66.1 % Total sales $ 8,000,342 $ 7,444,550 $ 6,310,187 Gross profit 4,152,404 3,515,357 3,124,371 Gross margin 51.9 % 47.2 % 49.5 % As of December 31, (in thousands) 2023 2022 Identifiable assets Wholesale $ 3,607,537 $ 3,682,860 Direct-to-Consumer 3,939,814 3,210,627 Total $ 7,547,351 $ 6,893,487 Year Ended December 31, (in thousands) 2023 2022 2021 Additions to property, plant and equipment Wholesale $ 225,217 $ 255,311 $ 245,008 Direct-to-Consumer 98,505 103,681 64,666 Total $ 323,722 $ 358,992 $ 309,674 Geographic Information Year Ended December 31, (in thousands) 2023 2022 2021 Geographic sales Domestic Wholesale $ 1,567,806 $ 1,831,642 $ 1,448,339 Domestic Direct-to-Consumer 1,482,392 1,243,511 1,115,018 Total domestic sales 3,050,198 3,075,153 2,563,357 International Wholesale 2,936,970 2,800,787 2,310,302 International Direct-to-Consumer 2,013,174 1,568,610 1,436,528 Total international sales 4,950,144 4,369,397 3,746,830 Total sales $ 8,000,342 $ 7,444,550 $ 6,310,187 Regional Sales Americas (AMER) $ 3,945,735 $ 3,854,392 $ 3,152,304 Europe, Middle East & Africa (EMEA) 1,831,848 1,699,215 1,282,902 Asia Pacific (APAC) 2,222,759 1,890,943 1,874,981 Total sales $ 8,000,342 $ 7,444,550 $ 6,310,187 China sales $ 1,228,630 $ 1,062,724 $ 1,247,949 As of December 31, (in thousands) 2023 2022 Property, plant and equipment, net Domestic $ 957,569 $ 870,924 International 549,121 474,446 Total $ 1,506,690 $ 1,345,370 China property plant and equipment, net $ 286,854 $ 264,422 The Company’s sales to its five largest customers accounted for approximately 8.4 % , 9.6 % , and 8.6 % of total sales for the years ended December 31, 2023, 2022 and 2021. 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 $ 5.1 billion and $ 4.4 billion at December 31, 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 year ended December 31, 2023, 2022, and 2021 were $ 3.9 million, $ 5.3 million, and $ 3.3 million. The Company’s accounts receivables, excluding allowances for bad debts and chargebacks, by geography are summarized as follows: As of December 31, (in thousands) 2023 2022 Domestic Accounts Receivable $ 276,918 $ 310,138 International Accounts Receivable 641,249 597,621 The Company’s top five manufacturers produced the following: Year Ended December 31, (percentage of total production) 2023 2022 2021 Manufacturer #1 21.4 16.5 18.0 Manufacturer #2 7.5 7.0 5.3 Manufacturer #3 6.7 5.2 4.8 Manufacturer #4 5.6 5.2 4.6 Manufacturer #5 4.5 5.1 4.4 45.7 39.0 37.1

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2023
Business Combinations [Abstract]
Business Combinations	(14) 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 $ 83.7 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, and reduced by a working capital adjustment of $ 0.3 million. On the acquisition date, we re corded intangible assets of $ 54.4 million, goodwill of $ 7.7 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 consolidated financial statements. One-time acquisition related costs of $ 1.6 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.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	(in thousands) Balance at Costs Deductions Balance at Year-ended December 31, 2021 Allowance for chargebacks $ 26,674 $ 45,957 $ ( 32,497 ) $ 40,134 Allowance for doubtful accounts 21,888 10,551 ( 9,889 ) 22,550 Liability for sales returns and allowances 77,219 6,263 ( 14,538 ) 68,944 Reserve for inventory 8,220 24,899 ( 25,608 ) 7,511 Year-ended December 31, 2022 Allowance for chargebacks $ 40,134 $ 25,558 $ ( 29,275 ) $ 36,417 Allowance for doubtful accounts 22,550 6,804 ( 6,299 ) 23,055 Liability for sales returns and allowances 68,944 5,444 ( 13,906 ) 60,482 Reserve for inventory 7,511 31,825 ( 21,606 ) 17,730 Year-ended December 31, 2023 Allowance for chargebacks $ 36,417 $ 24,076 $ ( 27,190 ) $ 33,303 Allowance for doubtful accounts 23,055 3,665 ( 2,156 ) 24,564 Liability for sales returns and allowances 60,482 20,798 ( 312 ) 80,968 Reserve for inventory 17,730 29,703 ( 30,524 ) 16,909

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Skechers U.S.A., Inc. and subsidiaries (the “Company”) designs, develops, markets and distributes footwear, apparel and accessories. The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) as codified in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”). All significant intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications of prior period balances have been made to conform to current presentation.
Use of Estimates	USE OF ESTIMATES The Company has made a number of estimates and assumptions relating to the reporting of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with GAAP. Significant areas requiring the use of estimates relate primarily to allowances for bad debts, returns and customer chargebacks, inventory reserves, litigation reserves and valuation of deferred income taxes. Actual results could differ materially from those estimates.
Revenue Recognition	REVENUE RECOGNITION The Company derives income from the sale of footwear, apparel and accessories and royalties earned from licensing the Skechers brand. The Company recognizes sales revenue, net of estimated returns and excluding sales and value added taxes. Revenue is recognized at point of sale or upon shipment, the point in time where control transfers to the customer. Wholesale sales are recognized upon shipment. Direct-to-consumer sales are recognized at the point of sale for transactions with customers at the Company’s retail stores and recognized upon shipment for sales made through its websites. Sales are reduced by an estimate of customer merchandise returns, which is calculated based on historical experience. The Company reserves for potential disputed amounts or chargebacks from its customers. The Company’s chargeback reserve is based on a factors such as historical trends, customer behavior and nature of the chargeback.
Allowance for Bad Debts	ALLOWANCE FOR BAD DEBTS The Company provides a reserve for estimated losses that may result from its customers’ inability to pay. The Company determines the amount of the reserve by analyzing known uncollectible accounts, aged receivables, historical losses and its customers’ credit-worthiness. Allowances for bad debts are recorded to general and administrative expenses.
Warehouse and Distribution Costs	WAREHOUSE AND DISTRIBUTION COSTS The Company’s distribution network-related costs are included in general and administrative expenses. Distribution expenses, including the functions of purchasing, receiving, inspecting, allocating, surface transportation, warehousing and packaging product totaled $ 565.1 million, $ 538.7 million and $ 376.5 million for 2023, 2022 and 2021 .
Product Design and Development Costs	PRODUCT DESIGN AND DEVELOPMENT COSTS The Company charges product design and development costs to general and administrative expenses. Aggregate product design and development costs were approximately $ 27.9 million, $ 28.1 million, and $ 24.6 million during the years ended December 31, 2023, 2022 and 2021 .
Advertising	ADVERTISING Advertising costs are expensed in the period in which an advertisement first runs, or over the life of an endorsement contract. Advertising expense for the years ended December 31, 2023, 2022 and 2021 was approximately $ 562.1 million, $ 473.7 million and $ 375.0 million. Prepaid advertising costs were $ 24.3 million at December 31, 2023 , consisting of $ 13.8 million short-term and $ 10.5 million long-term, which is included in other assets, net, in the Company’s consolidated balance sheets. Prepaid amounts represent the unamortized portion of endorsement contracts, advertising in trade publications and media productions created, but not run.
Income Taxes	INCOME TAXES The Company recognizes deferred tax liabilities for taxable temporary differences and deferred tax assets for deductible temporary differences and operating loss carry‑forwards using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit or expense is recognized as a result of changes in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all of any deferred tax assets will not be realized.
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS Cash and cash equivalents include short-term investments, which are highly liquid investments with maturities of three months or less when purchased.
Inventory	INVENTORY Inventory is stated at the lower of cost (based on the first-in, first-out method) or net realizable value. Cost of product includes shipping and handling fees. The Company estimates losses from obsolete or slow-moving inventory and reserves the cost of inventory at the time such determinations are made. Expense associated with inventory reserves is recognized in cost of sales.
Property, Plant and Equipment	PROPERTY, PLANT, AND EQUIPMENT Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. The Company reviews stores for impairment annually or when facts and circumstances indicate that the carrying values may be impaired. The Company did not record material impairment charges during the years ended December 31, 2023, 2022 or 2021 . The principal estimated useful lives are as follows: Buildings 20 to 40 years Building improvements 10 to 20 years Furniture, fixtures and equipment 5 to 20 years Leasehold improvements Shorter of useful life or remaining lease term
Goodwill	GOODWILL Business acquisitions are accounted for under the acquisition method by assigning the purchase price to tangible and intangible assets acquired and liabilities assumed. Assets acquired and liabilities assumed are recorded at their fair values and the excess of the purchase price over the amounts assigned is recorded as goodwill. As of December 31, 2023 and December 31, 2022 , the Company had $ 101.2 million and $ 93.5 million of goodwill included in the Wholesale segment. The increase of $ 7.7 million of goodwill included in the Wholesale segment relates to the acquisition of Sports Connection. Goodwill is not amortized but is tested at least annually in the fourth quarter for impairment or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. See Note 14 – Business Combinations of the Consolidated Financial Statements for additional information.
Intangible Assets	INTANGIBLE ASSETS Within other assets, net, the Company has amortizable intangible assets consisting of reacquired rights with a gross carrying value of $ 108.4 million and $ 49.1 million and accumulated amortization of $ 42.2 million and $ 25.9 million as of December 31, 2023 and December 31, 2022 . Purchased intangible assets with finite lives are amortized over their estimated useful lives. Amortization expense related to amortizable intangible assets were $ 11.4 million, $ 6.9 million and $ 6.9 million for years ended December 31, 2023, 2022 and 2021 . Future amortization expense related to amortizable intangible assets is expected to be approximately $ 14.6 million per year for each of the years 2024 and 2025, $ 9.7 million for 2026, $ 8.1 million for each of the years 2027 and 2028, and $ 11.1 million thereafter. The weighted-average amortization period for amortizable reacquired rights is 7 years.
Noncontrolling Interests	NONCONTROLLING INTERESTS The Company established several joint ventures either to distribute the Company’s products 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 consolidated financial statements, even though the Company may not hold a majority equity interest. The Company continues to reassess these relationships based on events and circumstances. 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. In December 2023, the Company increased the ownership interest related to the Israel joint venture from 51 % to 75 % for $ 6.0 million. In March 2021, the minority interest related to the Hong Kong joint venture was purchased for $ 10.0 million. The change in the Company’s ownership of the Hong Kong and Israel entities continues to be included in the Company’s consolidated financial statements.
Foreign Currency Translation	FOREIGN CURRENCY TRANSLATION The Company’s reporting currency is the U.S. dollar. Certain international operations use the respective local currency as their functional currency, while others use the U.S. dollar as their functional currency. Translation adjustments for subsidiaries with non-U.S. dollar functional currencies are included in other comprehensive income. Foreign currency transaction gains (losses), resulting from exchange rate fluctuations, on transactions denominated in a currency other than the functional currency are reported in earnings. Assets and liabilities of subsidiaries with non-U.S. dollar functional currencies are translated at the balance sheet date exchange rate. Net earnings and cash flow items are translated at the weighted-average exchange rates during the period. Translations of intercompany loans of a long-term investment nature are included as a component of translation adjustment in other comprehensive income.
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, U.S. Treasury securities and 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 (see Note 6 – Financial Commitments) classified as other assets, net at both December 31, 2023 and 2022. 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. As of December 31, 2023 , all counterparties to the interest rate swap had performed in accordance with their contractual obligations.
Recently Adopted Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. Among other new disclosure requirements, ASU 2023-07 requires companies to disclose significant segment expenses that are regularly provided to the chief operating decision maker. ASU 2023-07 will be effective for annual periods beginning on January 1, 2024 and interim periods beginning on January 1, 2025. ASU 2023-07 must be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the disclosure impact of ASU 2023-07. In December 2023, the FASB issued ASU No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 requires companies to disclose, on an annual basis, specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires companies to disclose additional information about income taxes paid. ASU 2023-09 will be effective for annual periods beginning January 1, 2025 and will be applied on a prospective basis with the option to apply the standard retrospectively. We are evaluating the disclosure impact of ASU 2023-09; however, the standard will not have an impact on the company’s consolidated financial position, results of operations and/or cash flows. 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 6 - 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 and did not have a material impact to our consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Principal Estimated Useful Lives	The principal estimated useful lives are as follows: Buildings 20 to 40 years Building improvements 10 to 20 years Furniture, fixtures and equipment 5 to 20 years Leasehold improvements Shorter of useful life or remaining lease term

Cash, Cash Equivalents, Short_2

Cash, Cash Equivalents, Short-Term And Long-Term Investments (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2023 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 972,278 $ 972,278 $ 972,278 $ — $ — Level 1 Money market funds 176,317 176,317 176,317 — — U.S. Treasury securities 39,769 39,769 29,942 9,827 — Mutual funds N/A 8,535 — — 8,535 Total level 1 216,086 224,621 206,259 9,827 8,535 Level 2 Corporate notes and bonds 97,795 97,795 9,374 50,949 37,472 Asset-backed securities 11,159 11,159 — — 11,159 U.S. Agency securities 27,269 27,269 1,999 11,819 13,451 Total level 2 136,223 136,223 11,373 62,768 62,082 Total $ 1,324,587 $ 1,333,122 $ 1,189,910 $ 72,595 $ 70,617 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

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Summary of Operating Lease Cost and Other Information	Operating lease cost and other information: Year Ended December 31, (in thousands) 2023 2022 2021 Fixed lease cost $ 361,894 $ 307,265 $ 290,509 Variable lease cost 11,424 10,803 5,354 Operating cash flows used for leases 359,727 303,721 286,411 Weighted-average remaining lease term 5.43 years 5.52 years 5.95 years Weighted-average discount rate 4.16 % 3.12 % 3.07 %
Summary of Future Lease Payments	The following table presents future lease payments as of December 31, 2023: Year (in thousands) Operating Leases 2024 $ 327,964 2025 289,527 2026 235,132 2027 194,505 2028 145,699 Thereafter 409,751 Total lease payments 1,602,578 Less: Imputed interest ( 220,172 ) Operating lease liabilities $ 1,382,406

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment is summarized as follows: As of December 31, (in thousands) 2023 2022 Land $ 122,433 $ 122,433 Buildings and improvements 720,663 634,683 Furniture, fixtures and equipment 954,482 803,043 Leasehold improvements 669,886 612,610 Total property, plant and equipment 2,467,464 2,172,769 Less accumulated depreciation and amortization 960,774 827,399 Property, plant and equipment, net $ 1,506,690 $ 1,345,370

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses at December 31, 2023 and 2022 are summarized as follows: As of December 31, (in thousands) 2023 2022 Accrued payroll, taxes, and other $ 166,132 $ 143,664 Return reserve liability 80,968 60,482 Accrued inventory purchases 73,005 89,997 Accrued expenses $ 320,105 $ 294,143

Financial Commitments (Tables)

Financial Commitments (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Long-Term Borrowings	Long-term borrowings were as follows: As of December 31, (in thousands) 2023 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 — 41,329 China Distribution Center Expansion Construction Loan 40,330 14,507 China Operational Loans 46,228 54,361 Other 435 7,872 Subtotal 289,515 319,672 Less: Current installments 46,571 103,184 Total long-term borrowings $ 242,944 $ 216,488
Schedule of Future Principal Payments	The following table presents the future principal payments required under the Company’s debt obligations, discussed above: Year (in thousands) Maturities 2024 $ 46,571 2025 202,615 2026 5,133 2027 5,133 2028 5,133 Thereafter 24,930 $ 289,515

Stockholders Equity and Stock C

Stockholders Equity and Stock Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Summary of Stock Repurchase Activities	The following table provides a summary of the Company’s stock repurchase activities: Year Ended December 31, 2023 2022 Shares repurchased 3,197,345 1,926,781 Average cost per share $ 50.06 $ 38.53 Total cost of shares repurchased (in thousands) $ 160,064 $ 74,245
Summary of Stock-Based Instruments	The Company issued the following stock-based instruments: Year Ended December 31, 2023 2022 2021 Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Restricted stock 959,690 $ 46.24 1,446,550 $ 38.27 1,201,600 $ 42.88 Performance-based restricted stock 121,225 $ 43.34 116,250 $ 42.46 108,750 $ 38.95 Market-based restricted stock 121,225 $ 59.71 116,250 $ 58.85 108,750 $ 54.34
Summary of Unvested Shares Related to the Plans	A summary of the status and changes of the Company’s unvested shares related to the Plan is presented below: Shares Weighted-Average Grant-Date Fair Value Unvested at December 31, 2020 3,112,023 35.06 Granted 1,419,100 43.46 Vested/Released ( 1,252,108 ) 34.36 Cancelled ( 25,699 ) 39.01 Unvested at December 31, 2021 3,253,316 38.97 Granted 1,679,050 39.98 Vested/Released ( 1,423,531 ) 36.13 Cancelled ( 84,933 ) 39.72 Unvested at December 31, 2022 3,423,902 40.62 Granted 1,202,140 47.31 Vested/Released ( 1,119,837 ) 38.76 Cancelled ( 43,500 ) 41.19 Unvested at December 31, 2023 3,462,705 43.54

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Summary of Calculation of EPS	The calculation of EPS is as follows: Year Ended December 31, (in thousands, except per share data) 2023 2022 2021 Net earnings attributable to Skechers U.S.A., Inc. $ 545,799 $ 373,028 $ 741,503 Weighted-average common shares outstanding, basic 154,533 155,627 155,539 Dilutive effect of nonvested shares 1,723 981 1,255 Weighted-average common shares outstanding, diluted 156,256 156,608 156,794 Anti-dilutive common shares excluded above 5 37 5 Net earnings attributable to Skechers U.S.A., Inc. per common share: Basic $ 3.53 $ 2.40 $ 4.77 Diluted $ 3.49 $ 2.38 $ 4.73

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Earnings before Income Tax Expense	The Company’s earnings before income tax expense consists of the following: Year Ended December 31, (in thousands) 2023 2022 2021 U.S. operations $ 16,740 $ ( 48,311 ) $ 71,900 Foreign operations 784,132 570,568 497,857 Earnings before income taxes $ 800,872 $ 522,257 $ 569,757
Summary of Income Tax	Income tax consists of the following: Year Ended December 31, (in thousands) 2023 2022 2021 Current Federal $ 16,839 $ 256 $ 34,288 State 7,986 9,564 7,268 Foreign 130,655 84,904 102,062 155,480 94,724 143,618 Deferred Federal ( 2,079 ) 7,043 ( 27,074 ) State ( 4,598 ) ( 1,287 ) ( 4,481 ) Foreign 2,146 ( 7,385 ) ( 357,938 ) ( 4,531 ) ( 1,629 ) ( 389,493 ) Income tax expense (benefit) $ 150,949 $ 93,095 $ ( 245,875 )
Summary of Earnings before Income Taxes	Income taxes differ from the statutory tax rates as applied to earnings before income taxes as follows: Year Ended December 31, (in thousands) 2023 2022 2021 Expected income tax expense $ 168,183 $ 109,674 $ 119,649 State income tax, net of federal benefit ( 832 ) ( 1,597 ) ( 172 ) Rate differential on foreign income ( 27,931 ) ( 49,175 ) ( 24,615 ) Change in unrecognized tax benefits 3,841 12,310 11,538 Intra-entity intellectual property transfer — ( 3,232 ) ( 346,776 ) FDII deduction — — ( 10,695 ) Non-deductible compensation 14,397 13,668 8,693 Tax credits ( 6,813 ) ( 7,544 ) ( 7,547 ) Excess tax expense (benefit) on stock compensation ( 854 ) 1,305 976 Benefits provided by the Coronavirus Aid, Relief, and Economic Security Act — — ( 905 ) U.S. tax on foreign earnings 8,180 7,611 — Other ( 5,235 ) 217 ( 927 ) Change in valuation allowance ( 1,987 ) 9,858 4,906 Income tax expense (benefit) $ 150,949 $ 93,095 $ ( 245,875 ) Effective tax rate 18.8 % 17.8 % ( 43.2 )%
Deferred Tax Assets and Liabilities	The tax effects of temporary differences giving rise to deferred tax assets and liabilities are presented below: As of December 31, (in thousands) 2023 2022 Deferred tax assets Inventory adjustments $ 9,413 $ 10,810 Accrued expenses 109,510 99,185 Allowances for bad debts and chargebacks 5,648 4,728 Advance payment — 6,339 Intra-entity IP transfer 330,545 343,106 Section 174 Capitalized Costs 43,130 15,721 Loss carryforwards 46,021 50,558 Business credit carryforward 22,571 25,289 Share-based compensation 10,486 7,725 Operating lease liabilities 338,389 317,449 Valuation allowance ( 56,334 ) ( 58,321 ) Total deferred tax assets 859,379 822,589 Deferred tax liabilities Prepaid expenses 3,873 5,073 Right-of-use assets 338,389 317,449 Foreign intangibles 16,116 6,970 Depreciation on property, plant and equipment 63,021 47,563 Total deferred tax liabilities 421,399 377,055 Net deferred tax assets $ 437,980 $ 445,534
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: As of December 31, (in thousands) 2023 2022 Beginning balance $ 41,247 $ 66,951 Additions for current year tax positions 4,530 5,345 Additions for prior year tax positions 1,379 4,616 Reductions for prior year tax positions — ( 674 ) Settlement of uncertain tax positions ( 1,722 ) ( 32,954 ) Reductions related to lapse of statute of limitations ( 2,218 ) ( 2,037 ) Ending balance $ 43,216 $ 41,247

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Reporting Information	Segment Information Year Ended December 31, (in thousands) 2023 2022 2021 Wholesale sales $ 4,504,776 $ 4,632,429 $ 3,758,640 Gross profit 1,846,819 1,669,276 1,437,517 Gross margin 41.0 % 36.0 % 38.2 % Direct-to-Consumer sales $ 3,495,566 $ 2,812,121 $ 2,551,547 Gross profit 2,305,585 1,846,081 1,686,854 Gross margin 66.0 % 65.6 % 66.1 % Total sales $ 8,000,342 $ 7,444,550 $ 6,310,187 Gross profit 4,152,404 3,515,357 3,124,371 Gross margin 51.9 % 47.2 % 49.5 % As of December 31, (in thousands) 2023 2022 Identifiable assets Wholesale $ 3,607,537 $ 3,682,860 Direct-to-Consumer 3,939,814 3,210,627 Total $ 7,547,351 $ 6,893,487 Year Ended December 31, (in thousands) 2023 2022 2021 Additions to property, plant and equipment Wholesale $ 225,217 $ 255,311 $ 245,008 Direct-to-Consumer 98,505 103,681 64,666 Total $ 323,722 $ 358,992 $ 309,674
Geographic Information	Geographic Information Year Ended December 31, (in thousands) 2023 2022 2021 Geographic sales Domestic Wholesale $ 1,567,806 $ 1,831,642 $ 1,448,339 Domestic Direct-to-Consumer 1,482,392 1,243,511 1,115,018 Total domestic sales 3,050,198 3,075,153 2,563,357 International Wholesale 2,936,970 2,800,787 2,310,302 International Direct-to-Consumer 2,013,174 1,568,610 1,436,528 Total international sales 4,950,144 4,369,397 3,746,830 Total sales $ 8,000,342 $ 7,444,550 $ 6,310,187 Regional Sales Americas (AMER) $ 3,945,735 $ 3,854,392 $ 3,152,304 Europe, Middle East & Africa (EMEA) 1,831,848 1,699,215 1,282,902 Asia Pacific (APAC) 2,222,759 1,890,943 1,874,981 Total sales $ 8,000,342 $ 7,444,550 $ 6,310,187 China sales $ 1,228,630 $ 1,062,724 $ 1,247,949 As of December 31, (in thousands) 2023 2022 Property, plant and equipment, net Domestic $ 957,569 $ 870,924 International 549,121 474,446 Total $ 1,506,690 $ 1,345,370 China property plant and equipment, net $ 286,854 $ 264,422
Summary of Accounts Receivables Excluding Allowances for Bad Debts and Chargebacks	The Company’s accounts receivables, excluding allowances for bad debts and chargebacks, by geography are summarized as follows: As of December 31, (in thousands) 2023 2022 Domestic Accounts Receivable $ 276,918 $ 310,138 International Accounts Receivable 641,249 597,621
Company's Top Five Manufacturers Produced	The Company’s top five manufacturers produced the following: Year Ended December 31, (percentage of total production) 2023 2022 2021 Manufacturer #1 21.4 16.5 18.0 Manufacturer #2 7.5 7.0 5.3 Manufacturer #3 6.7 5.2 4.8 Manufacturer #4 5.6 5.2 4.6 Manufacturer #5 4.5 5.1 4.4 45.7 39.0 37.1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands		1 Months Ended	12 Months Ended
	May 31, 2023 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) Derivative	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Warehouse and distribution costs			$ 565,100	$ 538,700	$ 376,500
Product design and development costs			27,900	28,100	24,600
Advertising expense			562,100	473,700	375,000
Prepaid advertising costs			24,300
Goodwill			101,230	93,497
Minority interest purchased			6,000		9,928
Other Noncurrent Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Prepaid advertising costs			10,500
Other Current Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Prepaid advertising costs			$ 13,800
Interest Rate Swap [Member] | Level 2 [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of derivative instrument | Derivative			1
Sports Connection Holdings Aps [Member]
Summary Of Significant Accounting Policies [Line Items]
Goodwill	$ 7,700		$ 7,700
Weighted-average amortization period for amortizable intangible assets	7 years
Israel Joint Venture [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase in ownership interest			$ 6,000
Israel Joint Venture [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of increase in ownership interest			51%
Israel Joint Venture [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of increase in ownership interest			75%
Hong Kong Joint Venture [Member]
Summary Of Significant Accounting Policies [Line Items]
Minority interest purchased		$ 10,000
Reacquired Rights [Member]
Summary Of Significant Accounting Policies [Line Items]
Amortizable intangible assets, gross carrying value			$ 108,400	49,100
Amortizable intangible assets, accumulated amortization			42,200	25,900
Amortization expense related to amortizable intangible assets			11,400	$ 6,900	$ 6,900
Future amortization expense related to amortizable intangible assets, 2024			14,600
Future amortization expense related to amortizable intangible assets, 2025			14,600
Future amortization expense related to amortizable intangible assets, 2026			9,700
Future amortization expense related to amortizable intangible assets, 2027			8,100
Future amortization expense related to amortizable intangible assets, 2028			8,100
Future amortization expense related to amortizable intangible assets, thereafter			$ 11,100
Weighted-average amortization period for amortizable intangible assets			7 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Principal Estimated Useful Lives (Detail)	Dec. 31, 2023
Buildings [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Buildings [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Building improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Building improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Furniture, fixtures and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture, fixtures and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember

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	Dec. 31, 2023	Dec. 31, 2022
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	$ 1,189,910	$ 615,733
Short-Term Investments	72,595	102,166
Long-Term Investments	70,617	24,028
Adjusted Cost	1,324,587	736,034
Fair Value	1,333,122	741,927
Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	206,259	73,503
Fair Value	224,621	95,597
Short-Term Investments	9,827	16,201
Long-Term Investments	8,535	5,893
Adjusted Cost	216,086	89,704
Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	11,373	2,500
Fair Value	136,223	106,600
Short-Term Investments	62,768	85,965
Long-Term Investments	62,082	18,135
Adjusted Cost	136,223	106,600
Money market funds [Member] | Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	176,317	71,503
Fair Value	176,317	71,503
Adjusted Cost	176,317	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	29,942	2,000
Fair Value	39,769	18,201
Short-Term Investments	9,827	16,201
Adjusted Cost	39,769	18,201
Mutual Funds [Member] | Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Fair Value	8,535	5,893
Long-Term Investments	8,535	5,893
Corporate Notes and Bonds [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	9,374	2,500
Fair Value	97,795	101,959
Short-Term Investments	50,949	85,731
Long-Term Investments	37,472	13,728
Adjusted Cost	97,795	101,959
Asset-backed Securities [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Fair Value	11,159	4,641
Short-Term Investments		234
Long-Term Investments	11,159	4,407
Adjusted Cost	11,159	4,641
Cash [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	972,278	539,730
Fair Value	972,278	$ 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	1,999
Fair Value	27,269
Short-Term Investments	11,819
Long-Term Investments	13,451
Adjusted Cost	$ 27,269

Cash, Cash Equivalents, Short_4

Cash, Cash Equivalents, Short-Term and Long-Term Investments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Interest income	$ 24,800	$ 6,000	$ 3,300
Company owned life insurance contracts	123,996	70,498
Life Insurance Contracts [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Company owned life insurance contracts	$ 53,400	$ 46,500
Maximum [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Long-term investments maturity period	2 years

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leased Assets [Line Items]
Operating lease ROU assets	$ 1,276,171	$ 1,200,565
Retail Stores Leases [Member] | Minimum [Member]
Operating Leased Assets [Line Items]
Lease term	5 years
Retail Stores Leases [Member] | Maximum [Member]
Operating Leased Assets [Line Items]
Lease term	10 years
Other Real Estate or Facility Leases [Member] | Maximum [Member]
Operating Leased Assets [Line Items]
Lease term	25 years
New Retail Stores Leases [Member]
Operating Leased Assets [Line Items]
Operating lease ROU assets	$ 45,500

Leases - Summary of Operating L

Leases - Summary of Operating Lease Cost and Other Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease, Cost [Abstract]
Fixed lease cost	$ 361,894	$ 307,265	$ 290,509
Variable lease cost	11,424	10,803	5,354
Operating cash flows used for leases	$ 359,727	$ 303,721	$ 286,411
Weighted-average remaining lease term	5 years 5 months 4 days	5 years 6 months 7 days	5 years 11 months 12 days
Weighted-average discount rate	4.16%	3.12%	3.07%

Leases - Summary of Future Leas

Leases - Summary of Future Lease Payments (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024	$ 327,964
2025	289,527
2026	235,132
2027	194,505
2028	145,699
Thereafter	409,751
Total lease payments	1,602,578
Less: Imputed interest	(220,172)
Operating lease liabilities	$ 1,382,406

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Land	$ 122,433	$ 122,433
Buildings and improvements	720,663	634,683
Furniture, fixtures and equipment	954,482	803,043
Leasehold improvements	669,886	612,610
Total property, plant and equipment	2,467,464	2,172,769
Less accumulated depreciation and amortization	960,774	827,399
Property, plant and equipment, net	$ 1,506,690	$ 1,345,370

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 156.5	$ 131.3	$ 122.2

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued payroll, taxes, and other	$ 166,132	$ 143,664
Return reserve liability	80,968	60,482
Accrued inventory purchases	73,005	89,997
Accrued expenses	$ 320,105	$ 294,143

Financial Commitments - Additio

Financial Commitments - Additional Information (Detail) ¥ in Billions					12 Months Ended
	Oct. 18, 2022 CNY (¥)	Dec. 15, 2021 USD ($)	Apr. 03, 2020 USD ($)	Mar. 18, 2020	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Outstanding letters of credit					$ 32,500,000	$ 2,700,000
Short-term borrowings					$ 11,894,000	19,635,000
Line of credit facilty expiration period					180 days
Interest Expense					$ 22,400,000	19,700,000	$ 14,900,000
Weighted-average annual interest rate					8%
China Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Debt instrument maturity date					Sep. 28, 2023
Debt instrument variable rate					4%
Line of credit facility, frequency of payment and payment term					The interest rate was 4.00%
Loan amount | ¥	¥ 1.1
Debt instrument rate					3.40%
Debt instrument, term	10 years
Other China Operational Loans [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility					$ 46,200,000	54,400,000
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					6.86%
Interest rate of line of credit agreement			1.90%
Debt instrument basis spread on variable rate					The interest rate is based on the Bloomberg Short-Term Bank Yield Index Daily Floating Rate plus a margin of 190 basis points, reducing to 175 basis points upon substantial completion of the construction and certain other conditions being satisfied.
Debt instrument maturity date			Apr. 03, 2025
Debt instrument, decrease in basis points			1.75%
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Aggregate notional amount					$ 129,500,000	$ 129,500,000
Weighted-average fixed rate					0.778%	0.778%
Derivative, fixed interest rate					2.63%	2.63%
Interest Rate Swap [Member] | Joint Venture with HF Logistics [Member] | 2020 Amendment Loan [Member] | Term SOFR Loans [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate					SOFR Daily Floating Rate plus a margin of 1.75% per annum
Interest Rate Swap [Member] | Joint Venture with HF Logistics [Member] | Construction Loan Agreement [Member]
Debt Instrument [Line Items]
Interest rate swap agreement date				Aug. 14, 2015
India
Debt Instrument [Line Items]
Short-term borrowings					$ 6,000,000	$ 14,500,000
Maximum [Member]
Debt Instrument [Line Items]
Line of credit					42,400,000	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
Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument unused credit capacity					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
Maturity date of credit agreement		Dec. 15, 2026
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 [Member]
Debt Instrument [Line Items]
Short-term borrowings					$ 0
Amended Credit Agreement [Member] | Revolving Credit Facility and Letter of Credit [Member] | Term SOFR Loans [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement		1%
Amended Credit Agreement [Member] | Revolving Credit Facility and Letter of Credit [Member] | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Interest rate of line of credit agreement		0.50%
Amended Credit Agreement [Member] | Revolving Credit Facility and Letter of Credit [Member] | Term SOFR plus 1.00% [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement		1%
Amended Credit Agreement [Member] | Revolving Credit Facility and Letter of Credit [Member] | Maximum [Member] | Term SOFR Loans [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement		1.50%
Amended Credit Agreement [Member] | Revolving Credit Facility and Letter of Credit [Member] | Maximum [Member] | Term SOFR plus 1.00% [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement		0.50%
Amended Credit Agreement [Member] | Revolving Credit Facility and Letter of Credit [Member] | Minimum [Member] | Term SOFR Loans [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement		1%
Amended Credit Agreement [Member] | Revolving Credit Facility and Letter of Credit [Member] | Minimum [Member] | Term SOFR plus 1.00% [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement		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] | Interest Rate Swap [Member] | Joint Venture with HF Logistics [Member] | 2020 Amendment Loan [Member] | Term SOFR Loans [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement					1.75%
HF-T1 Distribution Center Loan [Member] | Interest Rate Swap [Member] | Joint Venture with HF Logistics [Member] | Construction Loan Agreement [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
Interests at a Range of 2.75% to 2.90% per Annum [Member] | Maximum [Member] | Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate					2.90%
Interests at a Range of 2.75% to 2.90% per Annum [Member] | Minimum [Member] | Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate					2.75%
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	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term borrowings	$ 289,515	$ 319,672
Current installments of long-term borrowings	46,571	103,184
Long-term borrowings	242,944	216,488
China Operational Loans [Member]
Debt Instrument [Line Items]
Long-term borrowings	46,228	54,361
China Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Long-term borrowings		41,329
China Distribution Center Expansion Construction Loan
Debt Instrument [Line Items]
Long-term borrowings	40,330	14,507
Other [Member]
Debt Instrument [Line Items]
Long-term borrowings	435	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

Financial Commitments - Schedul

Financial Commitments - Schedule of Future Principal Payments (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 46,571
2025	202,615
2026	5,133
2027	5,133
2028	5,133
Thereafter	24,930
Long-term borrowings	$ 289,515	$ 319,672

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments And Contingencies Disclosure [Line Items]
Minimum percentage of interest-bearing open purchase arrangements	0%
Maximum percentage of interest-bearing open purchase arrangements	0.40%
Minimum financing days of interest- bearing open purchase arrangements	30 days
Maximum financing days of interest- bearing open purchase arrangements	60 days
Amounts outstanding under interest- bearing open purchase arrangements	$ 298.9	$ 345.4
Interest expense under interest- bearing open purchase arrangements	6.5	$ 6.1	$ 6.5
Open purchase commitments	1,400
Warehouse and Equipment and Corporate Construction Contracts [Member]
Commitments And Contingencies Disclosure [Line Items]
Open purchase commitments	$ 168

Stockholders' Equity and Stoc_2

Stockholders' Equity and Stock Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2022	May 23, 2017
Class Of Stock [Line Items]
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, par value	$ 0.001	$ 0.001
Stock repurchase program expiration date	Jan. 31, 2025
Recognized stock compensation expense	$ 65,100	$ 57,300	$ 57,900
Excess income tax (benefit) on stock compensation recorded in earnings	(900)	1,300	1,000
Unrecognized compensation cost related to nonvested common shares	$ 80,400
Weighted average period for recognition of cost	1 year 4 months 2 days
Total fair value of shares vested	$ 43,400	51,400	43,100
Proceeds from the employee stock purchase plan	9,445	8,131	7,276
ESPP
Class Of Stock [Line Items]
Recognized stock compensation expense	$ 2,900	2,600	2,200
Maximum [Member]
Class Of Stock [Line Items]
Vesting period of shares from the date of grant	4 years
Minimum [Member]
Class Of Stock [Line Items]
Vesting period of shares from the date of grant	1 year
Performance-Based Awards [Member]
Class Of Stock [Line Items]
Performance period	3 years
Performance-Based Awards [Member] | Maximum [Member]
Class Of Stock [Line Items]
Payout percentage of performance awards	200%
Performance-Based Awards [Member] | Minimum [Member]
Class Of Stock [Line Items]
Payout percentage of performance awards	0%
2018 ESPP [Member]
Class Of Stock [Line Items]
Number of shares available for sale under employee stock purchase plan	3,573,580
Percentage of price of common stock purchased	85%
Maximum percentage of employee's compensation to purchase common stock	15%
Proceeds from the employee stock purchase plan	$ 9,400	$ 8,100	$ 7,300
Proceeds from the employee stock purchase plan, Shares	242,166	243,166	225,665
2023 Plan [Member] | Performance-Based Awards [Member]
Class Of Stock [Line Items]
Number of shares that remain available for grant	6,523,913
2023 Plan [Member] | Performance-Based Awards [Member] | Maximum [Member]
Class Of Stock [Line Items]
Number of shares that remain available for grant	5,862,548
Class A Common Stock [Member]
Class Of Stock [Line Items]
Common Stock, shares authorized	500,000,000	500,000,000
Common Stock, par value	$ 0.001	$ 0.001
Common stock, voting rights	one vote per share
Stock repurchase program authorized amount				$ 500,000
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
Class A Common Stock [Member] | 2023 Plan [Member]
Class Of Stock [Line Items]
Number of shares reserved for issuance	7,500,000
Class B Common Stock [Member]
Class Of Stock [Line Items]
Common Stock, shares authorized	75,000,000	75,000,000
Common Stock, par value	$ 0.001	$ 0.001
Common stock, voting rights	ten votes per share
Certain Class B stockholders converted into Class A	627,632	128,530	77,562

Stockholders Equity and Stock_2

Stockholders Equity and Stock Compensation - Summary of Stock Repurchase Activities (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Shares repurchased	3,197,345	1,926,781
Average cost per share	$ 50.06	$ 38.53
Total cost of shares repurchased (in thousands)	$ 160,064	$ 74,245

Stockholders' Equity and Stoc_3

Stockholders' Equity and Stock Compensation - Summary of Stock-Based Instruments (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	1,202,140	1,679,050	1,419,100
Weighted-Average Grant-Date Fair Value, per share	$ 47.31	$ 39.98	$ 43.46
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	959,690	1,446,550	1,201,600
Weighted-Average Grant-Date Fair Value, per share	$ 46.24	$ 38.27	$ 42.88
Performance-Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	121,225	116,250	108,750
Weighted-Average Grant-Date Fair Value, per share	$ 43.34	$ 42.46	$ 38.95
Market-Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	121,225	116,250	108,750
Weighted-Average Grant-Date Fair Value, per share	$ 59.71	$ 58.85	$ 54.34

Stockholders' Equity and Stoc_4

Stockholders' Equity and Stock Compensation - Summary of Unvested Shares Related to the Plans (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Unvested, Shares, Beginning of Period	3,423,902	3,253,316	3,112,023
Granted, Shares	1,202,140	1,679,050	1,419,100
Vested/Released, Shares	(1,119,837)	(1,423,531)	(1,252,108)
Cancelled, Shares	(43,500)	(84,933)	(25,699)
Unvested, Shares, End of Period	3,462,705	3,423,902	3,253,316
Unvested, Weighted Average Grant-Date Fair Value, Beginning of Period	$ 40.62	$ 38.97	$ 35.06
Granted, Weighted Average Grant-Date Fair Value	47.31	39.98	43.46
Vested/Released, Weighted Average Grant-Date Fair Value	38.76	36.13	34.36
Cancelled, Weighted Average Grant-Date Fair Value	41.19	39.72	39.01
Unvested, Weighted Average Grant-Date Fair Value, End of Period	$ 43.54	$ 40.62	$ 38.97

Earnings Per Share - Summary of

Earnings Per Share - Summary of Calculation of EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Income (Loss)	$ 545,799	$ 373,028	$ 741,503
Weighted-average common shares outstanding, basic	154,533	155,627	155,539
Dilutive effect of nonvested shares	1,723	981	1,255
Weighted-average common shares outstanding, diluted	156,256	156,608	156,794
Anti-dilutive common shares excluded above	5	37	5
Net earnings attributable to Skechers U.S.A., Inc. per common share:
Basic	$ 3.53	$ 2.40	$ 4.77
Diluted	$ 3.49	$ 2.38	$ 4.73

Income Taxes - Schedule of Earn

Income Taxes - Schedule of Earnings before Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. operations	$ 16,740	$ (48,311)	$ 71,900
Foreign operations	784,132	570,568	497,857
Earnings before income taxes	$ 800,872	$ 522,257	$ 569,757

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Federal	$ 16,839	$ 256	$ 34,288
State	7,986	9,564	7,268
Foreign	130,655	84,904	102,062
Current income tax expense (benefit)	155,480	94,724	143,618
Deferred
Federal	(2,079)	7,043	(27,074)
State	(4,598)	(1,287)	(4,481)
Foreign	2,146	(7,385)	(357,938)
Deferred income tax expense (benefit)	(4,531)	(1,629)	(389,493)
Income tax expense (benefit)	$ 150,949	$ 93,095	$ (245,875)

Income Taxes - Summary of Earni

Income Taxes - Summary of Earnings before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Expected income tax expense	$ 168,183	$ 109,674	$ 119,649
State income tax, net of federal benefit	(832)	(1,597)	(172)
Rate differential on foreign income	(27,931)	(49,175)	(24,615)
Change in unrecognized tax benefits	3,841	12,310	11,538
Intra-entity intellectual property transfer		(3,232)	(346,776)
FDII deduction			(10,695)
Non-deductible compensation	14,397	13,668	8,693
Tax credits	(6,813)	(7,544)	(7,547)
Excess tax (benefit) on stock compensation	(854)	1,305	976
Benefits provided by the Coronavirus Aid, Relief, and Economic Security Act			(905)
U.S. tax on foreign earnings	8,180	7,611
Other	(5,235)	217	(927)
Change in valuation allowance	(1,987)	9,858	4,906
Income tax expense (benefit)	$ 150,949	$ 93,095	$ (245,875)
Effective tax rate	18.80%	17.80%	(43.20%)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Income Taxes [Line Items]
U.S. federal and state statutory rate	25.10%
Decrease in valuation allowance	$ 2,000
Unrecognized tax benefits that would be recorded as reduction in income tax expense if recognized	37,400
Unrecognized tax benefits that would be recorded as increase in deferred tax liabilities if recognized	5,800
Interest and penalties	2,300	$ (1,900)	$ 3,600
Accrued interest and penalties	6,400	4,200
Unrecognized tax benefits by result of expiring statutes	2,218	2,037
Reduction in settlements and decision on foreign tax	1,722	$ 32,954
Settlement of Domestic Audits [Member]
Schedule Of Income Taxes [Line Items]
Reasonably possible decrease in unrecognized tax benefits in next twelve month	11,900
China [Member]
Schedule Of Income Taxes [Line Items]
Local law requires to maintain earnings in a statutory reserve	27,500
Non-U.S jurisdictions [Member]
Schedule Of Income Taxes [Line Items]
Net operating loss carry-forwards	157,000
Net operating loss carry-forwards expire in 2024	$ 1,200
Operating loss expiration year	2024
Net operating loss carry-forward indefinitely	$ 40,900
Deferred tax assets valuation allowance recorded for credit and loss carryforwards	56,300
Non-U.S jurisdictions [Member] | Settlement with Taxing Authority [Member]
Schedule Of Income Taxes [Line Items]
Reasonably possible decrease in unrecognized tax benefits in next twelve month	300
U.S. Federal [Member]
Schedule Of Income Taxes [Line Items]
Tax credits due to operating loss carried back	5,000
State [Member]
Schedule Of Income Taxes [Line Items]
Net operating loss carry-forwards	53,800
Deferred tax assets valuation allowance recorded for credit and loss carryforwards	0
Tax credits due to operating loss carried back	$ 27,200
Tax credit and operating loss carry-forward expiration, description	The state tax credit carries forward indefinitely and the net operating loss carry-forward amounts begin to expire in 2033.
Minimum [Member] | Non-U.S jurisdictions [Member]
Schedule Of Income Taxes [Line Items]
Statutory federal rate	0%
Maximum [Member] | Non-U.S jurisdictions [Member]
Schedule Of Income Taxes [Line Items]
Statutory federal rate	35%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets
Inventory adjustments	$ 9,413	$ 10,810
Accrued expenses	109,510	99,185
Allowances for bad debts and chargebacks	5,648	4,728
Advance payment		6,339
Intra-entity IP transfer	330,545	343,106
Section 174 Capitalized Costs	43,130	15,721
Loss carryforwards	46,021	50,558
Business credit carryforward	22,571	25,289
Share-based compensation	10,486	7,725
Operating lease liabilities	338,389	317,449
Valuation allowance	(56,334)	(58,321)
Total deferred tax assets	859,379	822,589
Deferred tax liabilities
Prepaid expenses	3,873	5,073
Right-of-use assets	338,389	317,449
Foreign intangibles	16,116	6,970
Depreciation on property, plant and equipment	63,021	47,563
Total deferred tax liabilities	421,399	377,055
Net deferred tax assets	$ 437,980	$ 445,534

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Beginning balance	$ 41,247	$ 66,951
Additions for current year tax positions	4,530	5,345
Additions for prior year tax positions	1,379	4,616
Reductions for prior year tax positions		(674)
Settlement of uncertain tax positions	(1,722)	(32,954)
Reductions related to lapse of statute of limitations	(2,218)	(2,037)
Ending balance	$ 43,216	$ 41,247

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure [Line Items]
Minimum age for employees to be covered under profit sharing plan	21 years
Employer contributions	$ 6,500,000	$ 4,200,000	$ 4,700,000
Deferred Compensation Plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Employer contributions	$ 0	$ 0	$ 100,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Contributions to Skechers Foundation for various charitable purposes	$ 2,000	$ 2,000	$ 3,000
Receivables	82,253	86,036
Officers and Employees [Member]
Related Party Transaction [Line Items]
Receivables	$ 600	$ 1,900

Segment and Geographic Inform_3

Segment and Geographic Information - Segment Reporting Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Sales	$ 8,000,342	$ 7,444,550	$ 6,310,187
Gross profit	$ 4,152,404	$ 3,515,357	$ 3,124,371
Gross margin	51.90%	47.20%	49.50%
Identifiable assets	$ 7,547,351	$ 6,893,487
Additions to property, plant and equipment	323,722	358,992	$ 309,674
Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	4,504,776	4,632,429	3,758,640
Gross profit	$ 1,846,819	$ 1,669,276	$ 1,437,517
Gross margin	41%	36%	38.20%
Identifiable assets	$ 3,607,537	$ 3,682,860
Additions to property, plant and equipment	225,217	255,311	$ 245,008
Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	3,495,566	2,812,121	2,551,547
Gross profit	$ 2,305,585	$ 1,846,081	$ 1,686,854
Gross margin	66%	65.60%	66.10%
Identifiable assets	$ 3,939,814	$ 3,210,627
Additions to property, plant and equipment	$ 98,505	$ 103,681	$ 64,666

Segment and Geographic Inform_4

Segment and Geographic Information - Geographic Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Sales	$ 8,000,342	$ 7,444,550	$ 6,310,187
Property, plant and equipment, net
Property, plant and equipment, net	1,506,690	1,345,370
Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	4,504,776	4,632,429	3,758,640
Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	3,495,566	2,812,121	2,551,547
Domestic [Member]
Segment Reporting Information [Line Items]
Sales	3,050,198	3,075,153	2,563,357
Property, plant and equipment, net
Property, plant and equipment, net	957,569	870,924
Domestic [Member] | Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	1,567,806	1,831,642	1,448,339
Domestic [Member] | Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	1,482,392	1,243,511	1,115,018
Americas (AMER) [Member]
Segment Reporting Information [Line Items]
Sales	3,945,735	3,854,392	3,152,304
Europe, Middle East & Africa (EMEA) [Member]
Segment Reporting Information [Line Items]
Sales	1,831,848	1,699,215	1,282,902
Asia Pacific (APAC) [Member]
Segment Reporting Information [Line Items]
Sales	2,222,759	1,890,943	1,874,981
China Operational Loans [Member]
Segment Reporting Information [Line Items]
Sales	1,228,630	1,062,724	1,247,949
Property, plant and equipment, net
Property, plant and equipment, net	286,854	264,422
International [Member]
Segment Reporting Information [Line Items]
Sales	4,950,144	4,369,397	3,746,830
Property, plant and equipment, net
Property, plant and equipment, net	549,121	474,446
International [Member] | Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	2,936,970	2,800,787	2,310,302
International [Member] | Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	$ 2,013,174	$ 1,568,610	$ 1,436,528

Segment and Geographic Inform_5

Segment and Geographic Information - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) Customer	Dec. 31, 2022 USD ($) Customer	Dec. 31, 2021 USD ($) Customer
Segment Reporting Information [Line Items]
Provision for expected credit losses	$ 48,539	$ 37,806	$ 62,771
International [Member]
Segment Reporting Information [Line Items]
Net assets held outside the United States	5,100,000	4,400,000
Provision for expected credit losses	$ 3,900	$ 5,300	$ 3,300
Sales [Member] | Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Number of largest customers | Customer	5	5	5
Sales [Member] | Customer Concentration Risk [Member] | Five Largest Customers [Member]
Segment Reporting Information [Line Items]
Percentage of concentration risk	8.40%	9.60%	8.60%

Segment and Geographic Inform_6

Segment and Geographic Information - Summary of Accounts Receivables Excluding Allowances for Bad Debts and Chargebacks (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Domestic [Member]
Segment Reporting Information [Line Items]
Accounts receivable	$ 276,918	$ 310,138
International [Member]
Segment Reporting Information [Line Items]
Accounts receivable	$ 641,249	$ 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]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Manufacturer One [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	21.40%	16.50%	18%
Manufacturer Two [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	7.50%	7%	5.30%
Manufacturer Three [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	6.70%	5.20%	4.80%
Manufacturer Four [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	5.60%	5.20%	4.60%
Manufacturer Five [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	4.50%	5.10%	4.40%
Top Five Manufacturers [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	45.70%	39%	37.10%

Business Combinations - Additio

Business Combinations - Additional Information (Details) - USD ($) $ in Thousands	May 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 101,230	$ 93,497
Other net assets		136,086	$ 83,094
Sports Connection Holdings Aps [Member]
Business Acquisition [Line Items]
Company acquired equity interest	100%
Business combination, consideration transferred	$ 83,700
Business combination, cash payments	74,800
Business combination, settlement of pre-existing receivables	1,700
Business combination, working capital adjustment	300
Business combination, intangible assets acquired	54,400
Goodwill	7,700	$ 7,700
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	$ 1,600

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for chargebacks [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ 36,417	$ 40,134	$ 26,674
Costs Charged to Expenses	24,076	25,558	45,957
Deductions and Write-offs	(27,190)	(29,275)	(32,497)
Balance at End of Year	33,303	36,417	40,134
Allowance for doubtful accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	23,055	22,550	21,888
Costs Charged to Expenses	3,665	6,804	10,551
Deductions and Write-offs	(2,156)	(6,299)	(9,889)
Balance at End of Year	24,564	23,055	22,550
Liability for sales returns and allowances [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	60,482	68,944	77,219
Costs Charged to Expenses	20,798	5,444	6,263
Deductions and Write-offs	(312)	(13,906)	(14,538)
Balance at End of Year	80,968	60,482	68,944
Reserve for inventory [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	17,730	7,511	8,220
Costs Charged to Expenses	29,703	31,825	24,899
Deductions and Write-offs	(30,524)	(21,606)	(25,608)
Balance at End of Year	$ 16,909	$ 17,730	$ 7,511