Skechers U.S.A. (SKX) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	SKX
Security Exchange Name	NYSE
Entity Registrant Name	SKECHERS USA INC
Entity Central Index Key	0001065837
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity File Number	001-14429
Entity Tax Identification Number	95-4376145
Entity Address, Address Line One	228 Manhattan Beach Blvd.
Entity Address, City or Town	Manhattan Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90266
City Area Code	310
Local Phone Number	318-3100
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		134,172,217
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		20,949,425

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 1,284,540	$ 1,370,826
Short-term investments	106,028	100,767
Trade accounts receivable, less allowances of $47,468 and $48,562	798,836	619,800
Other receivables	70,758	69,222
Total receivables	869,594	689,022
Inventory	1,067,437	1,016,774
Prepaid expenses and other current assets	137,138	166,962
Total current assets ($920,986 and $862,954 related to VIEs)	3,464,737	3,344,351
Property, plant and equipment, net	992,512	935,441
Operating lease right-of-use assets	1,159,339	1,171,521
Deferred tax assets	63,339	63,884
Long-term investments	124,379	108,412
Goodwill	93,497	93,497
Other assets, net	87,763	95,263
Total non-current assets ($686,035 and $682,068 related to VIEs)	2,520,829	2,468,018
TOTAL ASSETS	5,985,566	5,812,369
Current liabilities
Current installments of long-term borrowings	60,942	52,250
Short-term borrowings	1,138	3,297
Accounts payable	807,949	744,077
Operating lease liabilities	217,241	204,370
Accrued expenses	184,109	208,712
Total current liabilities ($544,355 and $526,466 related to VIEs)	1,271,379	1,212,706
Long-term borrowings, excluding current installments	717,595	679,415
Long-term operating lease liabilities	1,039,763	1,065,069
Deferred tax liabilities	10,835	11,439
Other long-term liabilities	114,448	118,077
Total non-current liabilities ($385,807 and $365,235 related to VIEs)	1,882,641	1,874,000
Total liabilities	3,154,020	3,086,706
Commitments and contingencies (Note 10)
Stockholders’ equity
Preferred Stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding
Additional paid-in capital	377,350	372,165
Accumulated other comprehensive loss	(36,349)	(27,285)
Retained earnings	2,234,973	2,136,400
Skechers U.S.A., Inc. equity	2,576,129	2,481,435
Noncontrolling interests	255,417	244,228
Total stockholders' equity	2,831,546	2,725,663
TOTAL LIABILITIES AND EQUITY	5,985,566	5,812,369
Class A Common Stock [Member]
Stockholders’ equity
Common Stock	134	134
Class B Common Stock [Member]
Stockholders’ equity
Common Stock	$ 21	$ 21

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Trade accounts receivable, allowances	$ 47,468	$ 48,562
Current assets related to VIEs	3,464,737	3,344,351
Non-current assets related to VIEs	2,520,829	2,468,018
Current liabilities related to VIEs	1,271,379	1,212,706
Non-current liabilities related to VIEs	$ 1,882,641	$ 1,874,000
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Variable interest entity, primary beneficiary [Member]
Current assets related to VIEs	$ 920,986	$ 862,954
Non-current assets related to VIEs	686,035	682,068
Current liabilities related to VIEs	544,355	526,466
Non-current liabilities related to VIEs	$ 385,807	$ 365,235
Class A Common Stock [Member]
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	500,000,000	500,000,000
Common Stock, shares issued	134,172,000	133,618,000
Common Stock, shares outstanding	134,172,000	133,618,000
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	20,949,000	21,016,000
Common Stock, shares outstanding	20,949,000	21,016,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Sales	$ 1,428,418	$ 1,242,345
Cost of sales	748,796	694,677
Gross profit	679,622	547,668
Royalty income	6,037	5,248
Operating income	685,659	552,916
Operating expenses
Selling	85,296	74,055
General and administrative	442,695	434,051
Selling, general and administrative	527,991	508,106
Earnings from operations	157,668	44,810
Other income (expense)
Interest income	796	2,307
Interest expense	(4,113)	(1,999)
Other, net	(10,857)	3,471
Total other income (expense)	(14,174)	3,779
Earnings before income tax expense	143,494	48,589
Income tax expense	28,985	7,429
Net earnings	114,509	41,160
Less: Net earnings (loss) attributable to noncontrolling interests	15,936	(7,941)
Net earnings attributable to Skechers U.S.A., Inc.	$ 98,573	$ 49,101
Net earnings per share attributable to Skechers U.S.A., Inc.
Basic	$ 0.64	$ 0.32
Diluted	$ 0.63	$ 0.32
Weighted-average shares used in calculating net earnings per share attributable to Skechers U.S.A, Inc.
Basic	154,818	153,555
Diluted	155,936	154,652

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net earnings	$ 114,509	$ 41,160
Other comprehensive income, net of tax
Loss on foreign currency translation adjustment	(12,505)	(29,764)
Comprehensive income	102,004	11,396
Less: Comprehensive income (loss) attributable to noncontrolling interests	12,495	(14,879)
Comprehensive income attributable to Skechers U.S.A., Inc.	$ 89,509	$ 26,275

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($)	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]	NON CONTROLLING INTEREST [Member]
Beginning Balance at Dec. 31, 2019	$ 2,536,107,000			$ 131,000	$ 22,000	$ 306,669,000	$ (29,993,000)	$ 2,037,836,000	$ 2,314,665,000	$ 221,442,000
Beginning Balance, Shares at Dec. 31, 2019		131,071,000	22,408,000
Net earnings	41,160,000							49,101,000	49,101,000	(7,941,000)
Foreign currency translation adjustment	(29,764,000)						(22,826,000)		(22,826,000)	(6,938,000)
Distributions to noncontrolling interests	(14,865,000)									(14,865,000)
Noncontrolling interest of acquired businesses	49,045,000									49,045,000
Stock compensation expense	12,441,000					12,441,000			12,441,000
Shares issued under the incentive award plan, Shares		376,000
Shares redeemed for employee tax withholdings	(5,659,000)					(5,659,000)			(5,659,000)
Shares redeemed for employee tax withholdings, Shares		(171,000)
Ending Balance at Mar. 31, 2020	2,588,465,000			131,000	22,000	313,451,000	(52,819,000)	2,086,937,000	2,347,722,000	240,743,000
Ending Balance, Shares at Mar. 31, 2020		131,276,000	22,408,000
Beginning Balance at Dec. 31, 2020	2,725,663,000			134,000	21,000	372,165,000	(27,285,000)	2,136,400,000	2,481,435,000	244,228,000
Beginning Balance, Shares at Dec. 31, 2020		133,618,000	21,016,000
Net earnings	114,509,000							98,573,000	98,573,000	15,936,000
Foreign currency translation adjustment	(12,505,000)						(9,064,000)		(9,064,000)	(3,441,000)
Contribution from noncontrolling interests	14,000									14,000
Purchase of noncontrolling interest	(9,928,000)					(6,856,000)			(6,856,000)	(3,072,000)
Net unrealized gain on derivative contract	1,752,000									1,752,000
Stock compensation expense	12,041,000					12,041,000			12,041,000
Shares issued under the incentive award plan, Shares		487,000
Conversion of Class B Common Stock into Class A Common Stock, Shares		67,000	(67,000)
Ending Balance at Mar. 31, 2021	$ 2,831,546,000			$ 134,000	$ 21,000	$ 377,350,000	$ (36,349,000)	$ 2,234,973,000	$ 2,576,129,000	$ 255,417,000
Ending Balance, Shares at Mar. 31, 2021		134,172,000	20,949,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net earnings	$ 114,509	$ 41,160
Adjustments to reconcile net earnings to net cash from operating activities
Depreciation and amortization	33,008	39,559
Provision for bad debts and returns	7,348	26,277
Stock compensation	12,041	12,441
Deferred income taxes	(446)	(4,885)
Net settlement gain		(13,877)
Net foreign currency adjustments	6,015	6,513
Changes in operating assets and liabilities
Receivables	(196,331)	(187,786)
Inventory	(57,392)	77,539
Other assets	29,705	29,733
Accounts payable	69,184	(141,815)
Other liabilities	(31,415)	(19,840)
Net cash used in operating activities	(13,774)	(134,981)
Cash flows from investing activities
Capital expenditures	(84,237)	(74,887)
Purchases of investments	(71,132)	(43,788)
Proceeds from sales and maturities of investments	49,905	42,418
Net cash used in investing activities	(105,464)	(76,257)
Cash flows from financing activities
Repayments on long-term borrowings	(46)	(107)
Proceeds from long-term borrowings	46,918	570,767
Proceeds from (repayments on) short-term borrowings, net	(2,159)	7,912
Payments for employee taxes related to stock compensation		(5,659)
Purchase of noncontrolling interest	(9,928)
Contributions from noncontrolling interests	14
Distributions to noncontrolling interests		(14,865)
Net cash provided by financing activities	34,799	558,048
Effect of exchange rate changes on cash and cash equivalents	(1,847)	(12,920)
Net change in cash and cash equivalents	(86,286)	333,890
Cash and cash equivalents at beginning of the period	1,370,826	824,876
Cash and cash equivalents at end of the period	1,284,540	1,158,766
Cash paid during the period for
Interest	3,992	2,000
Income taxes, net	18,291	13,044
Non-cash transactions
ROU assets exchanged for lease liabilities	$ 42,143	$ 9,581

General

General	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
General	(1) GENERAL Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Skechers U.S.A., Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S‑X. In the opinion of management, all normal adjustments and accruals considered necessary to provide a fair statement of the results of operations for the interim periods presented have been included. The December 31, 2020 balance sheet data was derived from audited financial statements; however, the accompanying notes to condensed consolidated financial statements do not include all of the annual disclosures required under GAAP and should be read in conjunction with the Company’s 2020 Annual Report on Form 10-K. As previously disclosed in the Company’s 2020 Annual Report on Form 10-K, the duration and magnitude of the COVID-19 pandemic remains uncertain. The COVID-19 pandemic has had and may continue to have a significant impact on the Company’s consolidated results of operations, financial position and cash flows. Noncontrolling Interests The Company has equity interests in several joint ventures that were established either to exclusively distribute the Company’s products throughout Mexico, Asia and the Middle East or to construct the Company’s domestic distribution facility. These joint ventures are variable interest entities (“VIE”), and the Company is considered the primary beneficiary. This determination is based on the relationships between the Company and the VIE, including management agreements, governance documents and other contractual arrangements. Specifically, the Company has both of the following characteristics: (a) the power to direct the activities of the entity that most significantly impact the entity’s economic performance; and (b) the obligation to absorb losses of the entity that could potentially be significant to the VIE, or the right to receive benefits from the entity that could potentially be significant to the VIE. The assets and liabilities and results of operations of these entities are included in the Company’s condensed consolidated financial statements, even though the Company may not hold a majority equity interest. In March 2021, the minority interest related to the Hong Kong joint venture was purchased for $10.0 million. Other than the change in the Company’s ownership of the Hong Kong entity, which continues to be included in the Company’s condensed consolidated financial statements 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 and U.S. Treasury securities; Level 2 investments primarily include corporate notes and bonds, asset-backed securities, U.S. Agency securities, and actively traded mutual funds; and the Company does not currently have any Level 3 assets or liabilities. The Company has one Level 2 derivative instrument which is an interest rate swap related to the refinancing of its U.S. distribution center (see Note 4 – Financial Commitments) classified as other long-term liabilities . The fair value of the interest rate swap was determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipt was based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Credit valuation adjustments were incorporated to appropriately reflect both the Company’s nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. The carrying amount of receivables, payables and other amounts arising out of the normal course of business approximates fair value because of the relatively short maturity of such instruments. The carrying amount of the Company’s short-term and long-term borrowings, which are considered Level 2 liabilities, approximates fair value based on current rates and terms available to the Company for similar debt. DERIVATIVE INSTRUMENTS The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements. To accomplish this objective, the Company uses an interest rate swap as part of its interest rate risk management strategy. The Company’s interest rate swap, designated as a cash flow hedge, involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. By utilizing an interest rate swap, the Company is exposed to credit-related losses in the event that the counterparty fails to perform under the terms of the derivative contract. To mitigate this risk, the Company enters into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assesses the creditworthiness of its counterparties. As of March 31, 2021, all counterparties to the interest rate swap had performed in accordance with their contractual obligations. Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, 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,

Cash, Cash Equivalents, Short-T

Cash, Cash Equivalents, Short-Term And Long-Term Investments	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 866,621 $ 866,621 $ 866,621 $ — $ — Level 1 Money market funds 417,919 417,919 417,919 — — U.S. Treasury securities 22,551 22,551 — 8,362 14,189 Total level 1 440,470 440,470 417,919 8,362 14,189 Level 2 Corporate notes and bonds 138,507 138,507 — 93,422 45,085 Asset-backed securities 25,831 25,831 — 2,257 23,574 U.S. Agency securities 1,987 1,987 — 1,987 — Mutual funds 41,531 41,531 — — 41,531 Total level 2 207,856 207,856 — 97,666 110,190 TOTAL $ 1,514,947 $ 1,514,947 $ 1,284,540 $ 106,028 $ 124,379 As of December 31, 2020 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 946,961 $ 946,961 $ 946,961 $ — $ — Level 1 Money market funds 423,865 423,865 423,865 — — U.S. Treasury securities 21,146 21,146 — 8,067 13,079 Total level 1 445,011 445,011 423,865 8,067 13,079 Level 2 Corporate notes and bonds 117,253 117,253 — 83,521 33,732 Asset-backed securities 28,253 28,253 — 5,498 22,755 U.S. Agency securities 3,681 3,681 — 3,681 — Mutual funds 38,846 38,846 — — 38,846 Total level 2 188,033 188,033 — 92,700 95,333 TOTAL $ 1,580,005 $ 1,580,005 $ 1,370,826 $ 100,767 $ 108,412 The Company’s investments consist of United States (“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. When evaluating an investment for its current expected credit losses, the Company reviews factors such as historical experience with defaults, losses, credit ratings, term, market sector and macroeconomic trends, including current conditions and forecasts to the extent they are reasonable and supportable.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2021
Payables And Accruals [Abstract]
Accrued Expenses	(3) ACCRUED EXPENSES Accrued expenses at March 31, 2021 and December 31, 2020 are summarized as follows: As of March 31, As of December 31, (in thousands) 2021 2020 Accrued payroll, taxes, and other $ 71,013 $ 104,004 Return reserve liability 77,675 77,219 Accrued inventory purchases 35,421 27,489 Accrued expenses $ 184,109 $ 208,712

Financial Commitments

Financial Commitments	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Financial Commitments	(4) FINANCIAL COMMITMENTS The Company had $37.0 million Long-term borrowings were as follows: As of March 31, As of December 31, (in thousands) 2021 2020 Revolving Credit Facility $ 452,500 $ 452,500 HF-T1 Distribution Center Loan 129,505 129,505 HF-T2 Distribution Center Construction Loan 36,532 22,169 China Distribution Center Construction Loan 78,302 77,501 China Operational Loans 80,497 48,743 Other 1,201 1,247 Subtotal 778,537 731,665 Less: Current installments (60,942 ) (52,250 ) Total long-term borrowings $ 717,595 $ 679,415 Revolving Credit Facility The weighted-average annual interest rate on borrowings under the 2019 revolving credit facility was approximately 1.37% during the three months ended March 31, 2021 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. As of March 31, 2021 and December 31, 2020, the unused credit capacity March 31, 2021 HF-T1 Distribution Center Loan T he 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 LIBOR 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. The Company’s objective in using the Swap Agreement is to stabilize interest expense and manage exposure to interest rate volatility. Pursuant to the Swap Agreement, on August 14, 2015, HF-T1 entered into a confirmation of swap transactions (the “Interest Rate Swap”) as amended (the “Swap Agreement Amendment”) on March 18, 2020 with Bank of America, N.A with a maturity date of March 18, 2025. The Swap Agreement Amendment fixes the effective interest rate on the HF-T1 2020 Loan at 2.55% per annum. The HF-T1 2020 Loan and Swap Agreement Amendment are subject to customary covenants and events of default. Bank of America, N.A. also acts as a lender and syndication agent under the Company’s 2019 Credit Agreement. The Interest Rate Swap involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of both March 31, 2021 and December 31, 2020, the Interest Rate Swap had an aggregate notional amount of $ . HF-T2 Distribution Center Construction Loan The weighted-average annual interest rate on borrowings under the 2020 distribution center construction loan was approximately 2.02% during the three months ended March 31, 2021 China Distribution Center Construction Loan The interest rate at March 31, 2021 was 4.15% and may increase or decrease over the life of the loan, and will be evaluated every 12 months. Beginning in 2021, the principal of the loan will be repaid in semi-annual installments of variable amounts. The obligations of the China distribution center construction loan, entered through the Company’s Taicang Subsidiary are jointly and severally guaranteed by the Company’s China joint venture. As of March 31, 2021, the outstanding balance under this loan included approximately $13.9 million classified as short-term borrowings in the Company’s condensed consolidated balance sheets. China Operational Loans The balance of working capital loans was approximately $61.4 million with interest rates ranging from 1.73% to 3.65% per annum as of March 31, 2021. The balance of working capital loans as of December 31, 2020 was approximately $30.1 million with interest rates ranging from 1.75% to 3.92% per annum.

Stock Compensation

Stock Compensation	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Compensation	( 5 ) STOCK COMPENSATION INCENTIVE AWARD PLAN As of March 31, 2021, there were 5,121,800 shares available for grant as equity awards under the 2017 Incentive Award Plan. In the first quarter of 2021, 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 The Company issued the following stock-based instruments: Three Months Ended March 31, 2021 2020 Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Restricted stock 406,250 $ 39.53 1,013,500 $ 36.96 Performance-based restricted stock 108,750 $ 38.95 — $ — Market-based restricted stock 108,750 $ 54.34 — $ — A summary of the status and changes of the Company’s unvested shares is presented below: Shares Weighted-Average Grant-Date Fair Value Unvested at December 31, 2020 3,112,023 $ 35.06 Granted 623,750 $ 42.01 Vested (487,550 ) $ 36.59 Cancelled (8,500 ) $ 37.31 Unvested at March 31, 2021 3,239,723 $ 36.16 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 that have a performance-based vesting requirement, the Company evaluates the probability of achieving the performance criteria throughout the performance period and will adjust stock compensation expense up or down based on its estimated probable outcome. Certain performance-based awards contain market condition components which are valued on the date of grant using a Monte Carlo simulation model. For the three months ended March 31, 2021 and 2020 , the Company recognized $12.0 million and $12.4 million of compensation expense for grants under the 2017 Incentive Award Plan. As of March 31, 2021, the balance of unamortized stock compensation was $92.9 million which is expected to be recognized over a weighted-average period of 2.06 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	(6) EARNINGS PER SHARE Basic EPS and diluted EPS are calculated by dividing net earnings by the following: for basic EPS, the weighted-average number of common shares outstanding for the period; and for diluted EPS, the sum of the weighted-average number of both outstanding common shares and potentially dilutive common shares using the treasury stock method . The calculation of EPS is as follows: Three Months Ended March 31, (in thousands, except per share data) 2021 2020 Net earnings attributable to Skechers U.S.A., Inc. $ 98,573 $ 49,101 Weighted-average common shares outstanding, basic 154,818 153,555 Dilutive effect of nonvested shares 1,118 1,097 Weighted-average common shares outstanding, diluted 155,936 154,652 Anti-dilutive common shares excluded above 52,792 36,766 Net earnings attributable to Skechers U.S.A., Inc. per common share Basic $ 0.64 $ 0.32 Diluted $ 0.63 $ 0.32

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	(7) INCOME TAXES The tax provisions for the three months ended March 31, 2021 and 2020 were computed using the estimated effective tax rates applicable to each of the domestic and international taxable jurisdictions for the full year. The Company’s tax rate is subject to management’s quarterly review and revision, as necessary. The Company’s provision for income tax expense and effective income tax rate are significantly impacted by the mix of the Company’s domestic and foreign earnings (loss) before income taxes. In the foreign jurisdictions in which the Company has operations, the applicable statutory rates range from 0.0% to 34.0%, which is on average significantly lower than the U.S. federal and state combined statutory rate of approximately 24.5%. The Company’s effective tax rate was 20.2% and 15.3% for the three months ended March 31, 2021 and 2020. The increase primarily reflects the increased profitability in certain higher tax jurisdictions such as China and the United States.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
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 also officers and directors of the Foundation. The terms of the sale were no less favorable than could be obtained from an unrelated third party.

Segment and Geographic Informat

Segment and Geographic Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment and Geographic Information	(9) SEGMENT AND GEOGRAPHIC INFORMATION The Company has three reportable segments – Domestic Wholesale, International Wholesale and Direct-to-Consumer. Management evaluates segment performance based primarily on sales and gross margin. All 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 for the periods indicated: Three Months Ended March 31, (in thousands) 2021 2020 Sales Domestic Wholesale $ 374,665 $ 377,962 International Wholesale 712,175 575,199 Direct-to-Consumer 341,578 289,184 Total $ 1,428,418 $ 1,242,345 Gross profit Domestic Wholesale $ 139,924 $ 145,277 International Wholesale 320,781 240,475 Direct-to-Consumer 218,917 161,916 Total $ 679,622 $ 547,668 Sales (1) United States $ 602,117 $ 555,174 International 826,301 687,171 Total $ 1,428,418 $ 1,242,345 (1) March 31, 2021 and 2020, ales in China were $250.6 million and $91. . The Company’s sales to its five largest customers accounted for approximately 9.5% and 11.4% of total sales for the three months ended March 31, 2021 and 2020. The following summarizes the Company’s assets by segment and geographic area for the periods indicated: (in thousands) As of March 31, 2021 As of December 31, 2020 Identifiable assets Domestic Wholesale $ 1,971,630 $ 1,945,681 International Wholesale 2,616,429 2,436,568 Direct-to-Consumer 1,397,507 1,430,120 Total $ 5,985,566 $ 5,812,369 Three Months Ended March 31, (in thousands) 2021 2020 Additions to property, plant and equipment Domestic Wholesale $ 64,121 $ 11,818 International Wholesale 10,813 44,900 Direct-to-Consumer 9,303 18,169 Total $ 84,237 $ 74,887 (in thousands) As of March 31, 2021 As of December 31, 2020 Property, plant and equipment, net (1) United States $ 588,542 $ 535,648 International 403,970 399,793 Total $ 992,512 $ 935,441 ( 1 ) . 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 $3.7 billion and $3.1 billion at March 31, 2021 and December 31, 2020, respectively. 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 credit losses charged to expense for the three months ended March 31, 2021 and 2020 were $6.3 million and $1.5 million. The Company’s accounts receivables, excluding the allowance for bad debts, sales returns and chargebacks, in different geographic areas are summarized as follows: (in thousands) As of March 31, 2021 As of December 31, 2020 Domestic Accounts Receivable $ 314,131 $ 230,546 Foreign Accounts Receivable 532,173 437,816 For the periods presented below, the Company’s top five manufacturers produced, as a percentage of total production, the following: Three Months Ended March 31, 2021 2020 Manufacturer #1 18.6 % 24.9 % Manufacturer #2 5.0 % 7.5 % Manufacturer #3 4.8 % 6.7 % Manufacturer #4 4.8 % 3.9 % Manufacturer #5 4.3 % 3.7 % 37.5 % 46.7 %

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	( 10 ) COMMITMENTS AND CONTINGENCIES In accordance with GAAP, the Company records a liability in its condensed consolidated financial statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. Estimates of probable losses resulting from litigation and governmental proceedings are inherently difficult to predict, particularly when the matters are in the procedural stages or with unspecified or indeterminate claims for damages, potential penalties, or fines. Accordingly, the Company cannot determine the final amount, if any, of its liability beyond the amount accrued in the condensed consolidated financial statements as of March 31, 2021, 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.

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Skechers U.S.A., Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S‑X. In the opinion of management, all normal adjustments and accruals considered necessary to provide a fair statement of the results of operations for the interim periods presented have been included. The December 31, 2020 balance sheet data was derived from audited financial statements; however, the accompanying notes to condensed consolidated financial statements do not include all of the annual disclosures required under GAAP and should be read in conjunction with the Company’s 2020 Annual Report on Form 10-K. As previously disclosed in the Company’s 2020 Annual Report on Form 10-K, the duration and magnitude of the COVID-19 pandemic remains uncertain. The COVID-19 pandemic has had and may continue to have a significant impact on the Company’s consolidated results of operations, financial position and cash flows.
Noncontrolling Interests	Noncontrolling Interests The Company has equity interests in several joint ventures that were established either to exclusively distribute the Company’s products throughout Mexico, Asia and the Middle East or to construct the Company’s domestic distribution facility. These joint ventures are variable interest entities (“VIE”), and the Company is considered the primary beneficiary. This determination is based on the relationships between the Company and the VIE, including management agreements, governance documents and other contractual arrangements. Specifically, the Company has both of the following characteristics: (a) the power to direct the activities of the entity that most significantly impact the entity’s economic performance; and (b) the obligation to absorb losses of the entity that could potentially be significant to the VIE, or the right to receive benefits from the entity that could potentially be significant to the VIE. The assets and liabilities and results of operations of these entities are included in the Company’s condensed consolidated financial statements, even though the Company may not hold a majority equity interest. In March 2021, the minority interest related to the Hong Kong joint venture was purchased for $10.0 million. Other than the change in the Company’s ownership of the Hong Kong entity, which continues to be included in the Company’s condensed consolidated financial statements
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 and U.S. Treasury securities; Level 2 investments primarily include corporate notes and bonds, asset-backed securities, U.S. Agency securities, and actively traded mutual funds; and the Company does not currently have any Level 3 assets or liabilities. The Company has one Level 2 derivative instrument which is an interest rate swap related to the refinancing of its U.S. distribution center (see Note 4 – Financial Commitments) classified as other long-term liabilities . The fair value of the interest rate swap was determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipt was based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Credit valuation adjustments were incorporated to appropriately reflect both the Company’s nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. The carrying amount of receivables, payables and other amounts arising out of the normal course of business approximates fair value because of the relatively short maturity of such instruments. The carrying amount of the Company’s short-term and long-term borrowings, which are considered Level 2 liabilities, approximates fair value based on current rates and terms available to the Company for similar debt.
Derivative Instruments	DERIVATIVE INSTRUMENTS The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements. To accomplish this objective, the Company uses an interest rate swap as part of its interest rate risk management strategy. The Company’s interest rate swap, designated as a cash flow hedge, involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. By utilizing an interest rate swap, the Company is exposed to credit-related losses in the event that the counterparty fails to perform under the terms of the derivative contract. To mitigate this risk, the Company enters into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assesses the creditworthiness of its counterparties. As of March 31, 2021, all counterparties to the interest rate swap had performed in accordance with their contractual obligations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, 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,

Cash, Cash Equivalents, Short_2

Cash, Cash Equivalents, Short-Term And Long-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 866,621 $ 866,621 $ 866,621 $ — $ — Level 1 Money market funds 417,919 417,919 417,919 — — U.S. Treasury securities 22,551 22,551 — 8,362 14,189 Total level 1 440,470 440,470 417,919 8,362 14,189 Level 2 Corporate notes and bonds 138,507 138,507 — 93,422 45,085 Asset-backed securities 25,831 25,831 — 2,257 23,574 U.S. Agency securities 1,987 1,987 — 1,987 — Mutual funds 41,531 41,531 — — 41,531 Total level 2 207,856 207,856 — 97,666 110,190 TOTAL $ 1,514,947 $ 1,514,947 $ 1,284,540 $ 106,028 $ 124,379 As of December 31, 2020 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 946,961 $ 946,961 $ 946,961 $ — $ — Level 1 Money market funds 423,865 423,865 423,865 — — U.S. Treasury securities 21,146 21,146 — 8,067 13,079 Total level 1 445,011 445,011 423,865 8,067 13,079 Level 2 Corporate notes and bonds 117,253 117,253 — 83,521 33,732 Asset-backed securities 28,253 28,253 — 5,498 22,755 U.S. Agency securities 3,681 3,681 — 3,681 — Mutual funds 38,846 38,846 — — 38,846 Total level 2 188,033 188,033 — 92,700 95,333 TOTAL $ 1,580,005 $ 1,580,005 $ 1,370,826 $ 100,767 $ 108,412

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2021
Payables And Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses at March 31, 2021 and December 31, 2020 are summarized as follows: As of March 31, As of December 31, (in thousands) 2021 2020 Accrued payroll, taxes, and other $ 71,013 $ 104,004 Return reserve liability 77,675 77,219 Accrued inventory purchases 35,421 27,489 Accrued expenses $ 184,109 $ 208,712

Financial Commitments (Tables)

Financial Commitments (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Borrowings	Long-term borrowings were as follows: As of March 31, As of December 31, (in thousands) 2021 2020 Revolving Credit Facility $ 452,500 $ 452,500 HF-T1 Distribution Center Loan 129,505 129,505 HF-T2 Distribution Center Construction Loan 36,532 22,169 China Distribution Center Construction Loan 78,302 77,501 China Operational Loans 80,497 48,743 Other 1,201 1,247 Subtotal 778,537 731,665 Less: Current installments (60,942 ) (52,250 ) Total long-term borrowings $ 717,595 $ 679,415

Stock Compensation (Tables)

Stock Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Summary of Stock-Based Instruments	The Company issued the following stock-based instruments: Three Months Ended March 31, 2021 2020 Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Restricted stock 406,250 $ 39.53 1,013,500 $ 36.96 Performance-based restricted stock 108,750 $ 38.95 — $ — Market-based restricted stock 108,750 $ 54.34 — $ —
Summary of Unvested Shares	A summary of the status and changes of the Company’s unvested shares is presented below: Shares Weighted-Average Grant-Date Fair Value Unvested at December 31, 2020 3,112,023 $ 35.06 Granted 623,750 $ 42.01 Vested (487,550 ) $ 36.59 Cancelled (8,500 ) $ 37.31 Unvested at March 31, 2021 3,239,723 $ 36.16

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Summary of Calculation of EPS	The calculation of EPS is as follows: Three Months Ended March 31, (in thousands, except per share data) 2021 2020 Net earnings attributable to Skechers U.S.A., Inc. $ 98,573 $ 49,101 Weighted-average common shares outstanding, basic 154,818 153,555 Dilutive effect of nonvested shares 1,118 1,097 Weighted-average common shares outstanding, diluted 155,936 154,652 Anti-dilutive common shares excluded above 52,792 36,766 Net earnings attributable to Skechers U.S.A., Inc. per common share Basic $ 0.64 $ 0.32 Diluted $ 0.63 $ 0.32

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting Information	Three Months Ended March 31, (in thousands) 2021 2020 Sales Domestic Wholesale $ 374,665 $ 377,962 International Wholesale 712,175 575,199 Direct-to-Consumer 341,578 289,184 Total $ 1,428,418 $ 1,242,345 Gross profit Domestic Wholesale $ 139,924 $ 145,277 International Wholesale 320,781 240,475 Direct-to-Consumer 218,917 161,916 Total $ 679,622 $ 547,668 Sales (1) United States $ 602,117 $ 555,174 International 826,301 687,171 Total $ 1,428,418 $ 1,242,345 (1) March 31, 2021 and 2020, ales in China were $250.6 million and $91. .
Geographic Information	The following summarizes the Company’s assets by segment and geographic area for the periods indicated: (in thousands) As of March 31, 2021 As of December 31, 2020 Identifiable assets Domestic Wholesale $ 1,971,630 $ 1,945,681 International Wholesale 2,616,429 2,436,568 Direct-to-Consumer 1,397,507 1,430,120 Total $ 5,985,566 $ 5,812,369 Three Months Ended March 31, (in thousands) 2021 2020 Additions to property, plant and equipment Domestic Wholesale $ 64,121 $ 11,818 International Wholesale 10,813 44,900 Direct-to-Consumer 9,303 18,169 Total $ 84,237 $ 74,887 (in thousands) As of March 31, 2021 As of December 31, 2020 Property, plant and equipment, net (1) United States $ 588,542 $ 535,648 International 403,970 399,793 Total $ 992,512 $ 935,441 ( 1 ) .
Summary of Accounts Receivables Excluding the Allowance for Bad Debts Sales Returns and Chargebacks	The Company’s accounts receivables, excluding the allowance for bad debts, sales returns and chargebacks, in different geographic areas are summarized as follows: (in thousands) As of March 31, 2021 As of December 31, 2020 Domestic Accounts Receivable $ 314,131 $ 230,546 Foreign Accounts Receivable 532,173 437,816
Company's Top Five Manufacturers Produced, as Percentage of Total Production	For the periods presented below, the Company’s top five manufacturers produced, as a percentage of total production, the following: Three Months Ended March 31, 2021 2020 Manufacturer #1 18.6 % 24.9 % Manufacturer #2 5.0 % 7.5 % Manufacturer #3 4.8 % 6.7 % Manufacturer #4 4.8 % 3.9 % Manufacturer #5 4.3 % 3.7 % 37.5 % 46.7 %

General - Additional Informatio

General - Additional Information (Detail) $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2021USD ($)Derivative	Mar. 31, 2021Derivative
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2021	Jan. 1, 2021
Change in accounting principle, accounting standards update, immaterial effect	true	true
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201912Member
Interest Rate Swap [Member] | Level 2 [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of derivative instrument | Derivative	1	1
Skechers Hong Kong Limited [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Purchase of joint venture | $	$ 10

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	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and cash equivalents	$ 1,284,540	$ 1,370,826	$ 1,158,766	$ 824,876
Short-Term Investments	106,028	100,767
Long-Term Investments	124,379	108,412
Adjusted Cost	1,514,947	1,580,005
Fair Value	1,514,947	1,580,005
Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and cash equivalents	417,919	423,865
Short-Term Investments	8,362	8,067
Long-Term Investments	14,189	13,079
Adjusted Cost	440,470	445,011
Fair Value	440,470	445,011
Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Short-Term Investments	97,666	92,700
Long-Term Investments	110,190	95,333
Adjusted Cost	207,856	188,033
Fair Value	207,856	188,033
Money market funds [Member] | Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and cash equivalents	417,919	423,865
Adjusted Cost	417,919	423,865
Fair Value	417,919	423,865
U.S. Treasury Securities [Member] | Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Short-Term Investments	8,362	8,067
Long-Term Investments	14,189	13,079
Adjusted Cost	22,551	21,146
Fair Value	22,551	21,146
Corporate Notes and Bonds [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Short-Term Investments	93,422	83,521
Long-Term Investments	45,085	33,732
Adjusted Cost	138,507	117,253
Fair Value	138,507	117,253
Asset-backed Securities [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Short-Term Investments	2,257	5,498
Long-Term Investments	23,574	22,755
Adjusted Cost	25,831	28,253
Fair Value	25,831	28,253
U.S. Agency Securities [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Short-Term Investments	1,987	3,681
Adjusted Cost	1,987	3,681
Fair Value	1,987	3,681
Mutual Funds [Member] | Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Long-Term Investments	41,531	38,846
Adjusted Cost	41,531	38,846
Fair Value	41,531	38,846
Cash [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and cash equivalents	866,621	946,961
Fair Value	$ 866,621	$ 946,961

Cash, Cash Equivalents, Short_4

Cash, Cash Equivalents, Short-Term and Long-Term Investments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021
Maximum [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Long-term investments maturity period	2 years

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Accrued payroll, taxes, and other	$ 71,013	$ 104,004
Return reserve liability	77,675	77,219
Accrued inventory purchases	35,421	27,489
Accrued expenses	$ 184,109	$ 208,712

Financial Commitments - Additio

Financial Commitments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 18, 2020
Debt Instrument [Line Items]
Outstanding letters of credit	$ 37,000,000	$ 38,700,000
Short-term borrowings	1,138,000	3,297,000
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Aggregate notional amount	$ 129,500,000	$ 129,500,000
Weighted-average fixed rate	0.795%	0.795%
Derivative, fixed interest rate	4.08%	4.08%
China Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Debt instrument variable rate	4.15%
Line of credit facility, frequency of payment and payment term	The interest rate at March 31, 2021 was 4.15% and may increase or decrease over the life of the loan, and will be evaluated every 12 months. Beginning in 2021, the principal of the loan will be repaid in semi-annual installments of variable amounts.
Outstanding balance	$ 13,900,000
Other China Operational Loans [Member]
Debt Instrument [Line Items]
Outstanding balance	47,000,000
Maximum amount of credit facility	61,400,000	$ 30,100,000
Other China Operational Loans [Member] | Shanghai
Debt Instrument [Line Items]
Maximum amount of credit facility	$ 19,100,000	18,600,000
Joint Venture with HF Logistics [Member] | HF-T2 Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Weighted-average annual interest rate	2.02%
Interest Rate Swap [Member] | Joint Venture with HF Logistics [Member] | 2020 Amendment Loan [Member] | LIBOR Loans [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	LIBOR 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
2019 Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Weighted-average annual interest rate	1.37%
Debt instrument unused credit capacity	$ 10,500,000	$ 8,800,000
2019 Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Increase in leverage ratio	4.25%
2019 Revolving Credit Facility [Member] | Line of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Adjusted net leverage ratio	3.75
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] | LIBOR 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 1.84% to 3.87% per Annum [Member] | Maximum [Member] | Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate	3.65%	3.92%
Interests at a Range of 1.84% to 3.87% per Annum [Member] | Minimum [Member] | Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate	1.73%	1.75%
Interest at 4.28% per Annum [Member] | Other China Operational Loans [Member] | Shanghai
Debt Instrument [Line Items]
Debt instrument variable rate	4.28%	4.28%

Financial Commitments - Long-Te

Financial Commitments - Long-Term Borrowings (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term borrowings	$ 778,537	$ 731,665
Less: Current installments	(60,942)	(52,250)
Long-term borrowings, excluding current installments	717,595	679,415
China Operational Loans [Member]
Debt Instrument [Line Items]
Long-term borrowings	80,497	48,743
China Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Long-term borrowings	78,302	77,501
Other [Member]
Debt Instrument [Line Items]
Long-term borrowings	1,201	1,247
2019 Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term borrowings	452,500	452,500
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	$ 36,532	$ 22,169

Stock Compensation - Additional

Stock Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Performance-Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Performance-Based Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage of performance awards	0.00%
Performance-Based Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage of performance awards	200.00%
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that remain available for grant	5,121,800
Recognized compensation expense	$ 12	$ 12.4
Unrecognized compensation cost related to nonvested common shares	$ 92.9
Weighted average period for recognition of cost	2 years 21 days

Stock Compensation - Summary of

Stock Compensation - Summary of Stock-Based Instruments (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	623,750
Weighted-Average Grant-Date Fair Value, shares	$ 42.01
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	406,250	1,013,500
Weighted-Average Grant-Date Fair Value, shares	$ 39.53	$ 36.96
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	108,750
Weighted-Average Grant-Date Fair Value, shares	$ 38.95
Market-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	108,750
Weighted-Average Grant-Date Fair Value, shares	$ 54.34

Stock Compensation - Summary _2

Stock Compensation - Summary of Unvested Shares (Detail)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Unvested, Shares, Beginning of Period | shares	3,112,023
Granted, Shares | shares	623,750
Vested, Shares | shares	(487,550)
Cancelled, Shares | shares	(8,500)
Unvested, Shares, End of Period | shares	3,239,723
Unvested, Weighted Average Grant-Date Fair Value, Beginning of Period | $ / shares	$ 35.06
Granted, Weighted Average Grant-Date Fair Value | $ / shares	42.01
Vested, Weighted Average Grant-Date Fair Value | $ / shares	36.59
Cancelled, Weighted Average Grant-Date Fair Value | $ / shares	37.31
Unvested, Weighted Average Grant-Date Fair Value, End of Period | $ / shares	$ 36.16

Earnings Per Share - Summary of

Earnings Per Share - Summary of Calculation of EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net earnings attributable to Skechers U.S.A., Inc.	$ 98,573	$ 49,101
Weighted-average common shares outstanding, basic	154,818	153,555
Dilutive effect of nonvested shares	1,118	1,097
Weighted-average common shares outstanding, diluted	155,936	154,652
Anti-dilutive common shares excluded above	52,792	36,766
Net earnings attributable to Skechers U.S.A., Inc. per common share
Basic	$ 0.64	$ 0.32
Diluted	$ 0.63	$ 0.32

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Schedule Of Income Taxes [Line Items]
U.S. federal and state statutory rate	24.50%
Effective tax rate	20.20%	15.30%
Foreign Jurisdictions [Member] | Minimum [Member]
Schedule Of Income Taxes [Line Items]
Statutory federal rate	0.00%
Foreign Jurisdictions [Member] | Maximum [Member]
Schedule Of Income Taxes [Line Items]
Statutory federal rate	34.00%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	1 Months Ended	3 Months Ended
	Mar. 31, 2021USD ($)Property	Mar. 31, 2021USD ($)Property	Mar. 31, 2020USD ($)
Management [Member]
Related Party Transaction [Line Items]
Contribution to Skechers Foundation for various charitable purposes		$ 500,000	$ 500,000
Entity Controlled by President [Member]
Related Party Transaction [Line Items]
Number of purchased properties | Property	2	2
Purchases during the period	$ 2,700,000

Segment and Geographic Inform_3

Segment and Geographic Information - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)SegmentCustomer	Mar. 31, 2020USD ($)Customer	Dec. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	3
Credit losses attributable to expense	$ 7,348	$ 26,277
Non-US [Member]
Segment Reporting Information [Line Items]
Net assets held outside the United States	3,700,000		$ 3,100,000
Credit losses attributable to expense	$ 6,300	$ 1,500
Sales [Member] | Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Number of largest customers | Customer	5	5
Percentage of concentration risk	9.50%	11.40%

Segment and Geographic Inform_4

Segment and Geographic Information - Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Sales	$ 1,428,418	$ 1,242,345
Gross profit	679,622	547,668
Identifiable assets	5,985,566		$ 5,812,369
Additions to property, plant and equipment	84,237	74,887
Domestic Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	374,665	377,962
Gross profit	139,924	145,277
Identifiable assets	1,971,630		1,945,681
Additions to property, plant and equipment	64,121	11,818
International Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	712,175	575,199
Gross profit	320,781	240,475
Identifiable assets	2,616,429		2,436,568
Additions to property, plant and equipment	10,813	44,900
Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	341,578	289,184
Gross profit	218,917	161,916
Identifiable assets	1,397,507		$ 1,430,120
Additions to property, plant and equipment	$ 9,303	$ 18,169

Segment and Geographic Inform_5

Segment and Geographic Information - Geographic Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Sales	$ 1,428,418	$ 1,242,345
Property, plant and equipment, net
Property, plant and equipment, net	992,512		$ 935,441
Domestic [Member]
Segment Reporting Information [Line Items]
Sales	602,117	555,174
Property, plant and equipment, net
Property, plant and equipment, net	588,542		535,648
International [Member]
Segment Reporting Information [Line Items]
Sales	826,301	$ 687,171
Property, plant and equipment, net
Property, plant and equipment, net	$ 403,970		$ 399,793

Segment and Geographic Inform_6

Segment and Geographic Information - Geographic Information (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Sales	$ 1,428,418	$ 1,242,345
Property, plant and equipment, net	992,512		$ 935,441
China [Member]
Segment Reporting Information [Line Items]
Sales	250,600	$ 91,000
Property, plant and equipment, net	$ 245,400		$ 241,600

Segment and Geographic Inform_7

Segment and Geographic Information - Summary of Accounts Receivables Excluding the Allowance for Bad Debts Sales Returns and Chargebacks (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Domestic [Member]
Segment Reporting Information [Line Items]
Accounts receivable	$ 314,131	$ 230,546
Non-US [Member]
Segment Reporting Information [Line Items]
Accounts receivable	$ 532,173	$ 437,816

Segment and Geographic Inform_8

Segment and Geographic Information - Company's Top Five Manufacturers Produced, as Percentage of Total Production (Detail) - Cost of Goods, Total [Member] - Supplier Concentration Risk [Member]	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Percentage of Total Production	37.50%	46.70%
Manufacturer One [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	18.60%	24.90%
Manufacturer Two [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	5.00%	7.50%
Manufacturer Three [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	4.80%	6.70%
Manufacturer Four [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	4.80%	3.90%
Manufacturer Five [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	4.30%	3.70%