Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Jun. 30, 2013 | Jan. 31, 2014 | Jan. 31, 2014 | |
Class A Common Stock | Class B Convertible Common Stock | |||
Entity Information [Line Items] | ' | ' | ' | ' |
Document Type | '10-K | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' |
Trading Symbol | 'UA | ' | ' | ' |
Entity Registrant Name | 'Under Armour, Inc. | ' | ' | ' |
Entity Central Index Key | '0001336917 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 85,828,707 | 20,000,000 |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Public Float | ' | $5,022,472,095 | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $347,489 | $341,841 |
Accounts receivable, net | 209,952 | 175,524 |
Inventories | 469,006 | 319,286 |
Prepaid expenses and other current assets | 63,987 | 43,896 |
Deferred income taxes | 38,377 | 23,051 |
Total current assets | 1,128,811 | 903,598 |
Property and equipment, net | 223,952 | 180,850 |
Goodwill | 122,244 | 0 |
Intangible assets, net | 24,097 | 4,483 |
Deferred income taxes | 31,094 | 22,606 |
Other long term assets | 47,543 | 45,546 |
Total assets | 1,577,741 | 1,157,083 |
Liabilities and Stockholdersb Equity | ' | ' |
Revolving credit facility | 100,000 | 0 |
Accounts payable | 165,456 | 143,689 |
Accrued expenses | 133,729 | 85,077 |
Current maturities of long term debt | 4,972 | 9,132 |
Other current liabilities | 22,473 | 14,330 |
Total current liabilities | 426,630 | 252,228 |
Long term debt, net of current maturities | 47,951 | 52,757 |
Other long term liabilities | 49,806 | 35,176 |
Total liabilities | 524,387 | 340,161 |
Commitments and contingencies (see Note 7) | ' | ' |
Stockholdersb equity | ' | ' |
Additional paid-in capital | 397,283 | 321,338 |
Retained earnings | 653,842 | 493,181 |
Accumulated other comprehensive income | 2,194 | 2,368 |
Total stockholdersb equity | 1,053,354 | 816,922 |
Total liabilities and stockholdersb equity | 1,577,741 | 1,157,083 |
Class A Common Stock | ' | ' |
Stockholdersb equity | ' | ' |
Common Stock | 28 | 28 |
Total stockholdersb equity | 28 | 28 |
Class B Convertible Common Stock | ' | ' |
Stockholdersb equity | ' | ' |
Common Stock | 7 | 7 |
Total stockholdersb equity | $7 | $7 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Class A Common Stock | ' | ' |
Par value per share | $0.00 | $0.00 |
Shares authorized | 200,000,000 | 200,000,000 |
Shares issued | 85,814,354 | 83,461,106 |
Shares authorized | 85,814,354 | 83,461,106 |
Class B Convertible Common Stock | ' | ' |
Par value per share | $0.00 | $0.00 |
Shares authorized | 20,000,000 | 21,300,000 |
Shares issued | 20,000,000 | 21,300,000 |
Shares authorized | 20,000,000 | 21,300,000 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Net revenues | $2,332,051 | $1,834,921 | $1,472,684 |
Cost of goods sold | 1,195,381 | 955,624 | 759,848 |
Gross profit | 1,136,670 | 879,297 | 712,836 |
Selling, general and administrative expenses | 871,572 | 670,602 | 550,069 |
Income from operations | 265,098 | 208,695 | 162,767 |
Interest expense, net | -2,933 | -5,183 | -3,841 |
Other expense, net | -1,172 | -73 | -2,064 |
Income before income taxes | 260,993 | 203,439 | 156,862 |
Provision for income taxes | 98,663 | 74,661 | 59,943 |
Net income | $162,330 | $128,778 | $96,919 |
Net income available per common share | ' | ' | ' |
Basic (USD Per Share) | $1.54 | $1.23 | $0.94 |
Diluted (USD Per Share) | $1.50 | $1.21 | $0.92 |
Weighted average common shares outstanding | ' | ' | ' |
Basic (In Shares) | 105,348 | 104,343 | 103,140 |
Diluted (In Shares) | 107,979 | 106,380 | 105,052 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $162,330 | $128,778 | $96,919 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation adjustment | -897 | 423 | -13 |
Unrealized gain (loss) on cash flow hedge, net of tax of $505 and $58 for the year ended December 31, 2013 and 2012, respectively | 723 | -83 | 0 |
Total other comprehensive income (loss) | -174 | 340 | -13 |
Comprehensive income | $162,156 | $129,118 | $96,906 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' |
Unrealized gain (loss) on cash flow hedge, tax | $505 | $58 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity And Comprehensive Income (USD $) | Total | Class A Common Stock | Class B Convertible Common Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
In Thousands, unless otherwise specified | ||||||
Beginning balance at Dec. 31, 2010 | $496,966 | $26 | $8 | $224,870 | $270,021 | $2,041 |
Beginning balance (shares) at Dec. 31, 2010 | ' | 77,320 | 25,000 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Exercise of stock options (shares) | 1,126 | 1,126 | ' | ' | ' | ' |
Exercise of stock options | 12,853 | ' | ' | 12,853 | ' | ' |
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements (shares) | ' | -23 | ' | ' | ' | ' |
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements | -776 | ' | ' | ' | -776 | ' |
Issuance of Class A Common Stock, net of forfeitures (shares) | ' | 69 | ' | ' | ' | ' |
Issuance of Class A Common Stock, net of forfeitures | 2,041 | ' | ' | 2,041 | ' | ' |
Class B Convertible Common Stock converted to Class A Common Stock (shares) | ' | 2,500 | -2,500 | ' | ' | ' |
Class B Convertible Common Stock converted to Class A Common Stock | 0 | 1 | -1 | ' | ' | ' |
Stock-based compensation expense | 18,063 | ' | ' | 18,063 | ' | ' |
Net excess tax benefits from stock-based compensation arrangements | 10,379 | ' | ' | 10,379 | ' | ' |
Comprehensive income | 96,906 | ' | ' | ' | 96,919 | -13 |
Ending balance at Dec. 31, 2011 | 636,432 | 27 | 7 | 268,206 | 366,164 | 2,028 |
Ending balance (shares) at Dec. 31, 2011 | ' | 80,992 | 22,500 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Exercise of stock options (shares) | 1,218 | 1,218 | ' | ' | ' | ' |
Exercise of stock options | 12,371 | 1 | ' | 12,370 | ' | ' |
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements (shares) | ' | -38 | ' | ' | ' | ' |
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements | -1,761 | ' | ' | ' | -1,761 | ' |
Issuance of Class A Common Stock, net of forfeitures (shares) | ' | 89 | ' | ' | ' | ' |
Issuance of Class A Common Stock, net of forfeitures | 3,247 | ' | ' | 3,247 | ' | ' |
Class B Convertible Common Stock converted to Class A Common Stock (shares) | ' | 1,200 | -1,200 | ' | ' | ' |
Class B Convertible Common Stock converted to Class A Common Stock | 0 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 19,845 | ' | ' | 19,845 | ' | ' |
Net excess tax benefits from stock-based compensation arrangements | 17,670 | ' | ' | 17,670 | ' | ' |
Comprehensive income | 129,118 | ' | ' | ' | 128,778 | 340 |
Ending balance at Dec. 31, 2012 | 816,922 | 28 | 7 | 321,338 | 493,181 | 2,368 |
Ending balance (shares) at Dec. 31, 2012 | ' | 83,461 | 21,300 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Exercise of stock options (shares) | 911 | 911 | ' | ' | ' | ' |
Exercise of stock options | 12,159 | ' | ' | 12,159 | ' | ' |
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements (shares) | ' | -24 | ' | ' | ' | ' |
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements | -1,669 | ' | ' | ' | -1,669 | ' |
Issuance of Class A Common Stock, net of forfeitures (shares) | ' | 166 | ' | ' | ' | ' |
Issuance of Class A Common Stock, net of forfeitures | 3,439 | ' | ' | 3,439 | ' | ' |
Class B Convertible Common Stock converted to Class A Common Stock (shares) | ' | 1,300 | -1,300 | ' | ' | ' |
Class B Convertible Common Stock converted to Class A Common Stock | 0 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 43,184 | ' | ' | 43,184 | ' | ' |
Net excess tax benefits from stock-based compensation arrangements | 17,163 | ' | ' | 17,163 | ' | ' |
Comprehensive income | 162,156 | ' | ' | ' | 162,330 | -174 |
Ending balance at Dec. 31, 2013 | $1,053,354 | $28 | $7 | $397,283 | $653,842 | $2,194 |
Ending balance (shares) at Dec. 31, 2013 | ' | 85,814 | 20,000 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net income | $162,330 | $128,778 | $96,919 |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' | ' |
Depreciation and amortization | 50,549 | 43,082 | 36,301 |
Unrealized foreign currency exchange rate (gains) losses | 1,905 | -2,464 | 4,027 |
Loss on disposal of property and equipment | 332 | 524 | 36 |
Stock-based compensation | 43,184 | 19,845 | 18,063 |
Gain on bargain purchase of corporate headquarters (excludes transaction costs of $1.9 million) | 0 | 0 | -3,300 |
Deferred income taxes | -18,832 | -12,973 | 3,620 |
Changes in reserves and allowances | 13,945 | 13,916 | 5,536 |
Changes in operating assets and liabilities, net of effects of acquisitions: | ' | ' | ' |
Accounts receivable | -35,960 | -53,433 | -33,923 |
Inventories | -156,900 | 4,699 | -114,646 |
Prepaid expenses and other assets | -19,049 | -4,060 | -42,633 |
Accounts payable | 14,642 | 35,370 | 17,209 |
Accrued expenses and other liabilities | 56,481 | 21,966 | 23,442 |
Income taxes payable and receivable | 7,443 | 4,511 | 4,567 |
Net cash provided by operating activities | 120,070 | 199,761 | 15,218 |
Cash flows from investing activities | ' | ' | ' |
Purchases of property and equipment | -87,830 | -50,650 | -56,228 |
Purchases of businesses, net of cash acquired | -148,097 | 0 | -23,164 |
Purchases of other assets | -475 | -1,310 | -1,153 |
Purchase of long term investment | 0 | 0 | -3,862 |
Change in loans receivable | -1,700 | 0 | 0 |
Change in restricted cash | 0 | 5,029 | -5,029 |
Net cash used in investing activities | -238,102 | -46,931 | -89,436 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from revolving credit facility | 100,000 | 0 | 30,000 |
Payments on revolving credit facility | 0 | 0 | 30,000 |
Proceeds from term loan | 0 | 0 | 25,000 |
Payments on term loan | 0 | -25,000 | 0 |
Proceeds from long term debt | 0 | 50,000 | 5,644 |
Payments on long term debt | -5,471 | -44,330 | -7,418 |
Excess tax benefits from stock-based compensation arrangements | 17,167 | 17,868 | 10,260 |
Proceeds from exercise of stock options and other stock issuances | 15,099 | 14,776 | 14,645 |
Payments of debt financing costs | 0 | -1,017 | -2,324 |
Net cash provided by financing activities | 126,795 | 12,297 | 45,807 |
Effect of exchange rate changes on cash and cash equivalents | -3,115 | 1,330 | -75 |
Net increase in cash and cash equivalents | 5,648 | 166,457 | -28,486 |
Cash and cash equivalents | ' | ' | ' |
Beginning of period | 341,841 | 175,384 | 203,870 |
End of period | 347,489 | 341,841 | 175,384 |
Debt assumed and property and equipment acquired in connection with purchase of corporate headquarters | 0 | 0 | 38,556 |
Increase in accrual for property and equipment | 3,786 | 12,137 | 157 |
Cash paid for income taxes | 85,570 | 57,739 | 56,940 |
Cash paid for interest | $1,505 | $3,306 | $2,305 |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Parenthetical) (USD $) | 5 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2011 |
Statement of Cash Flows [Abstract] | ' | ' |
Transaction Costs on Purchase of Headquarters | $1.90 | $1.90 |
Description_of_the_Business
Description of the Business | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Description of the Business | ' |
Description of the Business | |
Under Armour, Inc. is a developer, marketer and distributor of branded performance apparel, footwear and accessories. These products are sold worldwide and worn by athletes at all levels, from youth to professional on playing fields around the globe, as well as by consumers with active lifestyles. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Summary of Significant Accounting Policies | ' | ||||||||
Summary of Significant Accounting Policies | |||||||||
Basis of Presentation | |||||||||
The accompanying consolidated financial statements include the accounts of Under Armour, Inc. and its wholly owned subsidiaries (the “Company”). All intercompany balances and transactions have been eliminated. The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America. | |||||||||
On June 11, 2012 the Board of Directors declared a two-for-one stock split of the Company's Class A and Class B common stock, which was effected in the form of a 100% common stock dividend distributed on July 9, 2012. Stockholders' equity and all references to share and per share amounts in the accompanying consolidated financial statements have been retroactively adjusted to reflect the two-for-one stock split for all periods presented. | |||||||||
Cash and Cash Equivalents | |||||||||
The Company considers all highly liquid investments with an original maturity of three months or less at date of inception to be cash and cash equivalents. Included in interest expense, net for the years ended December 31, 2013, 2012 and 2011 was interest income of $23.7 thousand, $25.2 thousand and $30.0 thousand, respectively, related to cash and cash equivalents. | |||||||||
Concentration of Credit Risk | |||||||||
Financial instruments that subject the Company to significant concentration of credit risk consist primarily of accounts receivable. The majority of the Company’s accounts receivable is due from large sporting goods retailers. Credit is extended based on an evaluation of the customer’s financial condition and collateral is not required. The most significant customers that accounted for a large portion of net revenues and accounts receivable are as follows: | |||||||||
Customer | Customer | Customer | |||||||
A | B | C | |||||||
Net revenues | |||||||||
2013 | 16.6 | % | 5.3 | % | 4.8 | % | |||
2012 | 16.6 | % | 5.8 | % | 5.2 | % | |||
2011 | 18.2 | % | 7.4 | % | 5.6 | % | |||
Accounts receivable | |||||||||
2013 | 27.1 | % | 9.1 | % | 5.1 | % | |||
2012 | 26.4 | % | 8.8 | % | 7 | % | |||
2011 | 25.4 | % | 8.6 | % | 5.5 | % | |||
Allowance for Doubtful Accounts | |||||||||
The Company makes ongoing estimates relating to the collectability of accounts receivable and maintains an allowance for estimated losses resulting from the inability of its customers to make required payments. In determining the amount of the reserve, the Company considers historical levels of credit losses and significant economic developments within the retail environment that could impact the ability of its customers to pay outstanding balances and makes judgments about the creditworthiness of significant customers based on ongoing credit evaluations. Because the Company cannot predict future changes in the financial stability of its customers, actual future losses from uncollectible accounts may differ from estimates. If the financial condition of customers were to deteriorate, resulting in their inability to make payments, a larger reserve might be required. In the event the Company determines a smaller or larger reserve is appropriate, it would record a benefit or charge to selling, general and administrative expense in the period in which such a determination was made. As of December 31, 2013 and 2012, the allowance for doubtful accounts was $2.9 million and $3.3 million, respectively. | |||||||||
Inventories | |||||||||
Inventories consist primarily of finished goods. Costs of finished goods inventories include all costs incurred to bring inventory to its current condition, including inbound freight, duties and other costs. The Company values its inventory at standard cost which approximates landed cost, using the first-in, first-out method of cost determination. Market value is estimated based upon assumptions made about future demand and retail market conditions. If the Company determines that the estimated market value of its inventory is less than the carrying value of such inventory, it records a charge to cost of goods sold to reflect the lower of cost or market. If actual market conditions are less favorable than those projected by the Company, further adjustments may be required that would increase the cost of goods sold in the period in which such a determination was made. | |||||||||
Income Taxes | |||||||||
Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities at tax rates expected to be in effect when such assets or liabilities are realized or settled. Deferred income tax assets are reduced by valuation allowances when necessary. | |||||||||
Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company’s deferred tax assets, which increase income tax expense in the period when such a determination is made. | |||||||||
Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the consolidated statements of income. | |||||||||
Property and Equipment | |||||||||
Property and equipment are stated at cost, including the cost of internal labor for software customized for internal use, less accumulated depreciation and amortization. Property and equipment is depreciated using the straight-line method over the estimated useful lives of the assets: 3 to 10 years for furniture, office equipment, software and plant equipment and 10 to 35 years for site improvements, buildings and building equipment. Leasehold and tenant improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. The cost of in-store apparel and footwear fixtures and displays are capitalized, included in furniture, fixtures and displays, and depreciated over 3 years. The Company periodically reviews assets’ estimated useful lives based upon actual experience and expected future utilization. A change in useful life is treated as a change in accounting estimate and is applied prospectively. | |||||||||
The Company capitalizes the cost of interest for long term property and equipment projects based on the Company’s weighted average borrowing rates in place while the projects are in progress. Capitalized interest was $0.4 million and $0.5 million as of December 31, 2013 and 2012, respectively. | |||||||||
Upon retirement or disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in selling, general and administrative expenses for that period. Major additions and betterments are capitalized to the asset accounts while maintenance and repairs, which do not improve or extend the lives of assets, are expensed as incurred. | |||||||||
Goodwill, Intangible Assets and Long-Lived Assets | |||||||||
Goodwill and intangible assets are recorded at their estimated fair values at the date of acquisition and are allocated to the reporting units that are expected to receive the related benefits. Goodwill and indefinite lived intangible assets are not amortized and are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. In conducting an annual impairment test, the Company first reviews qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If factors indicate that is the case, the Company performs a quantitative assessment over relevant reporting units, analyzing the expected present value of future cash flows and quantifies the amount of impairment, if any. The Company performs its annual impairment tests in the fourth quarter of each fiscal year. | |||||||||
The Company continually evaluates whether events and circumstances have occurred that indicate the remaining estimated useful life of long-lived assets may warrant revision or that the remaining balance may not be recoverable. These factors may include a significant deterioration of operating results, changes in business plans, or changes in anticipated cash flows. When factors indicate that an asset should be evaluated for possible impairment, the Company reviews long-lived assets to assess recoverability from future operations using undiscounted cash flows. If future undiscounted cash flows are less than the carrying value, an impairment is recognized in earnings to the extent that the carrying value exceeds fair value. | |||||||||
No material impairments were recorded related to goodwill, intangible assets or long-lived assets during the years ended December 31, 2013, 2012 and 2011. | |||||||||
Accrued Expenses | |||||||||
At December 31, 2013, accrued expenses primarily included $56.7 million and $11.9 million of accrued compensation and benefits and marketing expenses, respectively. At December 31, 2012, accrued expenses primarily included $37.9 million and $13.6 million of accrued compensation and benefits and marketing expenses, respectively. | |||||||||
Foreign Currency Translation and Transactions | |||||||||
The functional currency for each of the Company’s wholly owned foreign subsidiaries is generally the applicable local currency. The translation of foreign currencies into U.S. dollars is performed for assets and liabilities using current foreign currency exchange rates in effect at the balance sheet date and for revenue and expense accounts using average foreign currency exchange rates during the period. Capital accounts are translated at historical foreign currency exchange rates. Translation gains and losses are included in stockholders’ equity as a component of accumulated other comprehensive income. Adjustments that arise from foreign currency exchange rate changes on transactions, primarily driven by intercompany transactions, denominated in a currency other than the functional currency are included in other expense, net on the consolidated statements of income. | |||||||||
Derivatives and Hedging Activities | |||||||||
The Company uses derivative financial instruments in the form of foreign currency forward and interest rate swap contracts to minimize the risk associated with foreign currency exchange rate and interest rate fluctuations. The Company accounts for derivative financial instruments pursuant to applicable accounting guidance. This guidance establishes accounting and reporting standards for derivative financial instruments and requires all derivatives to be recognized as either assets or liabilities on the balance sheet and to be measured at fair value. Unrealized derivative gain positions are recorded as other current assets or other long term assets, and unrealized derivative loss positions are recorded as accrued expenses or other long term liabilities, depending on the derivative financial instrument’s maturity date. | |||||||||
Currently, the Company’s foreign currency forward contracts are not designated as cash flow hedges, and accordingly, changes in their fair value are included in other expense, net on the consolidated statements of income. The Company has designated its interest rate swap contract as a cash flow hedge and accordingly, the effective portion of changes in fair value are recorded in other comprehensive income and reclassified into interest expense over the life of the underlying debt obligation. The ineffective portion, if any, is recognized in current period earnings. The Company does not enter into derivative financial instruments for speculative or trading purposes. | |||||||||
Revenue Recognition | |||||||||
The Company recognizes revenue pursuant to applicable accounting standards. Net revenues consist of both net sales and license and other revenues. Net sales are recognized upon transfer of ownership, including passage of title to the customer and transfer of risk of loss related to those goods. Transfer of title and risk of loss is based upon shipment under free on board shipping point for most goods or upon receipt by the customer depending on the country of the sale and the agreement with the customer. In some instances, transfer of title and risk of loss takes place at the point of sale, for example, at the Company’s brand and factory house stores. The Company may also ship product directly from its supplier to the customer and recognize revenue when the product is delivered to and accepted by the customer. License and other revenues are primarily recognized based upon shipment of licensed products sold by the Company’s licensees. Sales taxes imposed on the Company’s revenues from product sales are presented on a net basis on the consolidated statements of income and therefore do not impact net revenues or costs of goods sold. | |||||||||
The Company records reductions to revenue for estimated customer returns, allowances, markdowns and discounts. The Company bases its estimates on historical rates of customer returns and allowances as well as the specific identification of outstanding returns, markdowns and allowances that have not yet been received by the Company. The actual amount of customer returns and allowances, which is inherently uncertain, may differ from the Company’s estimates. If the Company determines that actual or expected returns or allowances are significantly higher or lower than the reserves it established, it would record a reduction or increase, as appropriate, to net sales in the period in which it makes such a determination. Provisions for customer specific discounts are based on contractual obligations with certain major customers. Reserves for returns, allowances, markdowns and discounts are recorded as an offset to accounts receivable as settlements are made through offsets to outstanding customer invoices. As of December 31, 2013 and 2012, there were $43.8 million and $40.7 million, respectively, in reserves for customer returns, allowances, markdowns and discounts. | |||||||||
Advertising Costs | |||||||||
Advertising costs are charged to selling, general and administrative expenses. Advertising production costs are expensed the first time an advertisement related to such production costs is run. Media (television, print and radio) placement costs are expensed in the month during which the advertisement appears, and costs related to event sponsorships are expensed when the event occurs. In addition, advertising costs include sponsorship expenses. Accounting for sponsorship payments is based upon specific contract provisions and the payments are generally expensed uniformly over the term of the contract after recording expense related to specific performance incentives once they are deemed probable. Advertising expense, including amortization of in-store marketing fixtures and displays, was $246.5 million, $205.4 million and $167.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. At December 31, 2013 and 2012, prepaid advertising costs were $22.0 million and $17.5 million, respectively. | |||||||||
Shipping and Handling Costs | |||||||||
The Company charges certain customers shipping and handling fees. These fees are recorded in net revenues. The Company includes the majority of outbound handling costs as a component of selling, general and administrative expenses. Outbound handling costs include costs associated with preparing goods to ship to customers and certain costs to operate the Company’s distribution facilities. These costs, included within selling, general and administrative expenses, were $46.1 million, $34.8 million and $26.1 million for the years ended December 31, 2013, 2012 and 2011, respectively. The Company includes outbound freight costs associated with shipping goods to customers as a component of cost of goods sold. | |||||||||
Minority Investment | |||||||||
The Company holds a minority investment in Dome Corporation (“Dome”), the Company’s Japanese licensee. The Company invested ¥1,140.0 million, or $15.5 million, in exchange for 19.5% common stock ownership in Dome. As of December 31, 2013 and 2012, the carrying value of the Company’s investment was $15.2 million and $14.6 million, respectively, and was included in other long term assets on the consolidated balance sheet. The investment is subject to foreign currency translation rate fluctuations as it is held by the Company’s European subsidiary. | |||||||||
The Company accounts for its investment in Dome under the cost method given that it does not have the ability to exercise significant influence. Additionally, the Company concluded that no event or change in circumstances occurred during the year ended December 31, 2013 that may have a significant adverse effect on the fair value of the investment. | |||||||||
Earnings per Share | |||||||||
Basic earnings per common share is computed by dividing net income available to common stockholders for the period by the weighted average number of common shares outstanding during the period. Any stock-based compensation awards that are determined to be participating securities, which are stock-based compensation awards that entitle the holders to receive dividends prior to vesting, are included in the calculation of basic earnings per share using the two class method. Diluted earnings per common share is computed by dividing net income available to common stockholders for the period by the diluted weighted average common shares outstanding during the period. Diluted earnings per share reflects the potential dilution from common shares issuable through stock options, warrants, restricted stock units and other equity awards. Refer to Note 11 for further discussion of earnings per share. | |||||||||
Stock-Based Compensation | |||||||||
The Company accounts for stock-based compensation in accordance with accounting guidance that requires all stock-based compensation awards granted to employees and directors to be measured at fair value and recognized as an expense in the financial statements. In addition, this guidance requires that excess tax benefits related to stock-based compensation awards be reflected as financing cash flows. | |||||||||
The Company uses the Black-Scholes option-pricing model to estimate the fair market value of stock-based compensation awards. The Company uses the “simplified method” to estimate the expected life of options, as permitted by accounting guidance. The “simplified method” calculates the expected life of a stock option equal to the time from grant to the midpoint between the vesting date and contractual term, taking into account all vesting tranches. The risk free interest rate is based on the yield for the U.S. Treasury bill with a maturity equal to the expected life of the stock option. Expected volatility is based on the Company's historical average. Compensation expense is recognized net of forfeitures on a straight-line basis over the total vesting period, which is the implied requisite service period. Compensation expense for performance-based awards is recorded over the implied requisite service period when achievement of the performance target is deemed probable. The forfeiture rate is estimated at the date of grant based on historical rates. | |||||||||
The Company issues new shares of Class A Common Stock upon exercise of stock options, grant of restricted stock or share unit conversion. Refer to Note 12 for further details on stock-based compensation. | |||||||||
Management Estimates | |||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |||||||||
Fair Value of Financial Instruments | |||||||||
The carrying amounts shown for the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short term maturity of those instruments. The fair value of the long term debt approximates its carrying value based on the variable nature of interest rates and current market rates available to the Company. The fair value of foreign currency forward contracts is based on the net difference between the U.S. dollars to be received or paid at the contracts’ settlement date and the U.S. dollar value of the foreign currency to be sold or purchased at the current forward exchange rate. The fair value of the interest rate swap contract is based on the net difference between the fixed interest to be paid and variable interest to be received over the term of the contract based on current market rates. | |||||||||
Recently Issued Accounting Standards | |||||||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update which requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions. This guidance is effective for annual and interim reporting periods beginning after December 15, 2013, with early adoption permitted. The Company believes the adoption of this pronouncement will not have a material impact on its consolidated financial statements. | |||||||||
Recently Adopted Accounting Standards | |||||||||
In February 2013, the FASB issued an Accounting Standards Update which requires companies to present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. This guidance is effective for annual and interim reporting periods beginning after December 15, 2012. The adoption of this pronouncement did not have a material impact on the Company's consolidated financial statements. | |||||||||
In July 2012, the FASB issued an Accounting Standards Update which allows companies to assess qualitative factors to determine the likelihood of indefinite-lived intangible asset impairment and whether it is necessary to perform the quantitative impairment test currently required. This guidance is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The adoption of this pronouncement did not have an impact on the Company's consolidated financial statements. |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2013 | |
Acquisitions [Abstract] | ' |
Acquisitions | ' |
Acquisitions | |
MapMyFitness | |
On December 6, 2013, the Company acquired 100% of the outstanding equity of MapMyFitness, Inc., a digital connected fitness platform, for $150.0 million in cash, subject to adjustment for final working capital. The purchase price was financed through $100.0 million in debt under the Company's existing revolving credit facility and cash on hand. Through this acquisition, the Company expects to engage and grow the acquired connected fitness community, while also increasing awareness and sales of the Company's existing product offerings through our North American wholesale and direct to consumer channels. | |
The acquisition was accounted for as a business combination. The Company allocated the total purchase price to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date, with the remaining unallocated purchase price recorded as goodwill. As a result of the initial purchase price allocation, the Company recorded intangible assets of $20.6 million, goodwill of $122.2 million, and other net assets of $6.6 million, primarily consisting of $4.7 million of net deferred tax assets. The purchase price allocation is preliminary, pending the settlement of working capital. | |
Intangible assets consist of $12.0 million of technology, $5.0 million of trade name, and $3.6 million of customer relationships. The Company estimated the acquisition date fair values of the intangible assets based on income based discounted cash flow models using estimates and assumptions regarding future operations. The Company will amortize the intangible assets on a straight-line basis over their estimated useful lives of two to seven years. | |
The goodwill recorded as a result of the acquisition primarily reflects unidentified intangible assets acquired, including the value of integrating and innovating acquired technologies and engaging and growing the digital community. The acquired goodwill has been allocated primarily within the Company's North America operating segment as well as the MapMyFitness operating segment. The goodwill associated with this acquisition is not deductible for tax purposes. | |
In connection with this acquisition, the Company incurred acquisition related expenses of approximately $2.5 million. These expenses were included in selling, general and administrative expenses on the consolidated statements of income during the year ended December 31, 2013. This acquisition did not have a material impact to the Company’s consolidated statements of income during the year ended December 31, 2013. Pro forma results are not presented, as the acquisition was not considered material to the consolidated Company. | |
Corporate Headquarters | |
In July 2011, the Company acquired approximately 400 thousand square feet of office space comprising its corporate headquarters for $60.5 million. The acquisition included land, buildings, tenant improvements and third party lease-related intangible assets. As of December 31, 2013, 116 thousand square feet of the 400 thousand square feet acquired was leased to third party tenants with remaining lease terms ranging from 1 month to 12.5 years. The Company intends to occupy additional space as it becomes available. | |
The acquisition included the assumption of a $38.6 million loan secured by the property and the remaining purchase price was paid in cash funded primarily by a $25.0 million term loan borrowed in May 2011. The carrying value of the assumed loan approximated its fair value on the date of the acquisition. Refer to Note 6 for a discussion of the assumed loan and term loan. A $1.0 million deposit was paid upon signing the purchase agreement in November 2010. | |
The aggregate fair value of the acquisition was $63.8 million. The fair value was estimated using a combination of market, income and cost approaches. The acquisition was accounted for as a business combination, and as such the Company recognized a bargain purchase gain in the year ended December 31, 2011 of $3.3 million, as the amount by which the fair value of the net assets acquired exceeded the fair value of the purchase price. | |
In connection with this acquisition, the Company incurred acquisition related expenses of approximately $1.9 million. Both the acquisition related expenses and pre-tax bargain purchase gain were included in selling, general and administrative expenses on the consolidated statements of income during the year ended December 31, 2011. This transaction did not have a material impact to the Company’s consolidated statements of income during the year ended December 31, 2013. |
Property_And_Equipment_Net
Property And Equipment, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property and Equipment, Net | ' | ||||||||
4. Property and Equipment, Net | |||||||||
Property and equipment consisted of the following: | |||||||||
December 31, | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Leasehold and tenant improvements | $ | 97,776 | $ | 75,058 | |||||
Furniture, fixtures and displays | 68,045 | 59,849 | |||||||
Buildings | 45,903 | 42,533 | |||||||
Software | 51,984 | 40,836 | |||||||
Office equipment | 39,551 | 35,752 | |||||||
Plant equipment | 45,509 | 30,214 | |||||||
Land | 17,628 | 17,628 | |||||||
Construction in progress | 28,471 | 23,005 | |||||||
Other | 1,219 | 1,246 | |||||||
Subtotal property and equipment | 396,086 | 326,121 | |||||||
Accumulated depreciation | (172,134 | ) | (145,271 | ) | |||||
Property and equipment, net | $ | 223,952 | $ | 180,850 | |||||
Construction in progress primarily includes costs incurred for software systems, leasehold improvements and in-store fixtures and displays not yet placed in use. | |||||||||
Depreciation expense related to property and equipment was $48.3 million, $39.8 million and $32.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets, Net | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure | ' | ||||||||||||||||||||||||
. Goodwill and Intangible Assets, Net | |||||||||||||||||||||||||
The following table summarizes changes in the carrying amount of the Company’s goodwill by reportable segment as of the periods indicated: | |||||||||||||||||||||||||
(In thousands) | North America | Other foreign countries and businesses | Total | ||||||||||||||||||||||
Balance as of December 31, 2012 | $ | — | $ | — | $ | — | |||||||||||||||||||
Goodwill acquired | 119,799 | 2,445 | 122,244 | ||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 119,799 | $ | 2,445 | $ | 122,244 | |||||||||||||||||||
The following table summarizes the Company’s intangible assets as of the periods indicated: | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
(In thousands) | Gross | Accumulated | Net Carrying | Gross | Accumulated | Net Carrying | |||||||||||||||||||
Carrying | Amortization | Amount | Carrying | Amortization | Amount | ||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||
Intangible assets subject to amortization: | |||||||||||||||||||||||||
Technology | $ | 12,000 | $ | (126 | ) | $ | 11,874 | $ | — | $ | — | $ | — | ||||||||||||
Trade name | 5,000 | (53 | ) | 4,947 | — | — | — | ||||||||||||||||||
Customer relationships | 3,600 | (38 | ) | 3,562 | — | — | — | ||||||||||||||||||
Lease-related intangible assets | 3,896 | (2,605 | ) | 1,291 | 3,896 | (1,974 | ) | 1,922 | |||||||||||||||||
Other | 3,648 | (2,914 | ) | 734 | 3,087 | (2,215 | ) | 872 | |||||||||||||||||
Total | $ | 28,144 | $ | (5,736 | ) | $ | 22,408 | $ | 6,983 | $ | (4,189 | ) | $ | 2,794 | |||||||||||
Indefinite-lived intangible assets | 1,689 | 1,689 | |||||||||||||||||||||||
Intangible assets, net | $ | 24,097 | $ | 4,483 | |||||||||||||||||||||
Technology, trade-name and customer relationship intangible assets were acquired with the purchase of MapMyFitness and are amortized on a straight-line basis over 84 months, 48 months and 24 months. respectively. Lease-related intangible assets were acquired with the purchase of the Company’s corporate headquarters and are amortized over the remaining third party lease terms, which ranged from 9 months to 15 years on the date of purchase. Other intangible assets are amortized using estimated useful lives of 55 months to 120 months with no residual value. Amortization expense, which is included in selling, general and administrative expenses, was $1.6 million, $2.2 million and $2.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. The estimated amortization expense of the Company’s intangible assets is $5.4 million, $5.0 million, $3.3 million, $3.1 million and $1.9 million for the years ending December 31, 2014, 2015, 2016, 2017 and 2018, respectively. |
Credit_Facility_and_Long_Term_
Credit Facility and Long Term Debt | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Debt Disclosure [Abstract] | ' | |||
Credit Facility and Long Term Debt | ' | |||
. Credit Facility and Long Term Debt | ||||
Credit Facility | ||||
The Company has a credit facility with certain lending institutions. The credit facility has a term of four years through March 2015 and provides for a committed revolving credit line of up to $300.0 million. The commitment amount under the revolving credit facility may be increased by an additional $50.0 million, subject to certain conditions and approvals as set forth in the credit agreement. | ||||
The credit facility may be used for working capital and general corporate purposes and is secured by a first priority lien on substantially all of the assets of the Company and the assets of certain of its domestic subsidiaries (other than trademarks and the land and buildings comprising the Company’s corporate headquarters) and by a pledge of the equity interests of certain of its domestic subsidiaries and 65% of the equity interests of certain of the Company’s foreign subsidiaries. Up to $5.0 million of the facility may be used to support letters of credit, of which none were outstanding as of December 31, 2013. The Company is required to maintain a certain leverage ratio and interest coverage ratio as set forth in the credit agreement. As of December 31, 2013, the Company was in compliance with these ratios. The credit agreement also provides the lenders with the ability to reduce the borrowing base, even if the Company is in compliance with all conditions of the credit agreement, upon a material adverse change to the business, properties, assets, financial condition or results of operations of the Company. The credit agreement contains a number of restrictions that limit the Company’s ability, among other things, and subject to certain limited exceptions, to incur additional indebtedness, pledge its assets as security, guaranty obligations of third parties, make investments, undergo a merger or consolidation, dispose of assets, or materially change its line of business. In addition, the credit agreement includes a cross default provision whereby an event of default under other debt obligations, as defined in the credit agreement, will be considered an event of default under the credit agreement. | ||||
Borrowings under the credit facility bear interest based on the daily balance outstanding at LIBOR (with no rate floor) plus an applicable margin (varying from 1.25% to 1.75%) or, in certain cases a base rate (based on a certain lending institution’s Prime Rate or as otherwise specified in the credit agreement, with no rate floor) plus an applicable margin (varying from 0.25% to 0.75%). The credit facility also carries a commitment fee equal to the unused borrowings multiplied by an applicable margin (varying from 0.25% to 0.35%). The applicable margins are calculated quarterly and vary based on the Company’s leverage ratio as set forth in the credit agreement. | ||||
During the three months ended December 31, 2013, the Company borrowed $100.0 million under the revolving credit facility to partially fund the acquisition of MapMyFitness. The interest rate under the revolving credit facility was 1.5% during the three months ended December 31, 2013. No balance was outstanding under the revolving credit facility as of December 31, 2012. | ||||
Long Term Debt | ||||
The Company has long term debt agreements with various lenders to finance the acquisition or lease of qualifying capital investments. Loans under these agreements are collateralized by a first lien on the related assets acquired. As these agreements are not committed facilities, each advance is subject to approval by the lenders. Additionally, these agreements include a cross default provision whereby an event of default under other debt obligations, including the Company’s credit facility, will be considered an event of default under these agreements. These agreements require a prepayment fee if the Company pays outstanding amounts ahead of the scheduled terms. The terms of the credit facility limit the total amount of additional financing under these agreements to $40.0 million, of which $18.0 million was available for additional financing as of December 31, 2013. At December 31, 2013 and 2012, the outstanding principal balance under these agreements was $4.9 million and $11.9 million, respectively. Currently, advances under these agreements bear interest rates which are fixed at the time of each advance. The weighted average interest rates on outstanding borrowings were 3.3%, 3.7% and 3.5% for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||
In July 2011, in connection with the Company’s acquisition of its corporate headquarters, the Company assumed a $38.6 million nonrecourse loan secured by a mortgage on the acquired property. The assumed loan had an original term of approximately 10 years with a scheduled maturity date of March 2013. The loan includes a balloon payment of $37.3 million due at maturity. The assumed loan is nonrecourse with the lender’s remedies for non-performance limited to action against the acquired property and certain required reserves and a cash collateral account, except for nonrecourse carve outs related to fraud, breaches of certain representations, warranties or covenants, including those related to environmental matters, and other standard carve outs for a loan of this type. The loan requires certain minimum cash flows and financial results from the property, and if those requirements are not met, additional reserves may be required. The assumed loan requires prior approval of the lender for certain matters related to the property, including material leases, changes to property management, transfers of any part of the property and material alterations to the property. The loan had an interest rate of 6.73%. | ||||
In December 2012, the Company repaid the remaining balance of the assumed nonrecourse loan of $37.7 million and entered into a $50.0 million recourse loan collateralized by the land, buildings and tenant improvements comprising the Company's corporate headquarters. The loan has a seven year term and maturity date of December 2019. The loan bears interest at one month LIBOR plus a margin of 1.50%, and allows for prepayment without penalty. The Company is required to maintain the same leverage ratio and interest coverage ratio as set forth in the credit facility. As of December 31, 2013, the Company was in compliance with these ratios. The loan contains a number of restrictions that limit the Company’s ability, among other things, and subject to certain limited exceptions, to incur additional indebtedness, pledge its assets as a security, guaranty obligations of third parties, make investments, undergo a merger or consolidation, dispose of assets, or materially change its line of business. The loan requires prior approval of the lender for certain matters related to the property, including transfers of any interest in the property. In addition, the loan includes a cross default provision similar to the cross default provision in the credit facility discussed above. As of December 31, 2013 and 2012, the outstanding balance on the loan was $48.0 million and $50.0 million, respectively. The weighted average interest rate on the loan was 1.7% for the years ended December 31, 2013 and 2012. | ||||
The following are the scheduled maturities of long term debt as of December 31, 2013: | ||||
(In thousands) | ||||
2014 | $ | 4,972 | ||
2015 | 3,951 | |||
2016 | 2,000 | |||
2017 | 2,000 | |||
2018 | 2,000 | |||
2019 and thereafter | 38,000 | |||
Total scheduled maturities of long term debt | 52,923 | |||
Less current maturities of long term debt | (4,972 | ) | ||
Long term debt obligations | $ | 47,951 | ||
Interest expense was $2.9 million, $5.2 million and $3.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. Interest expense includes the amortization of deferred financing costs and interest expense under the credit and long term debt facilities, as well as the assumed loan discussed above. | ||||
The Company monitors the financial health and stability of the lenders under the revolving credit and long term debt facilities, however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities. |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Commitments And Contingencies | ' | ||||
7. Commitments and Contingencies | |||||
Obligations Under Operating Leases | |||||
The Company leases warehouse space, office facilities, space for its brand and factory house stores and certain equipment under non-cancelable operating leases. The leases expire at various dates through 2028, excluding extensions at the Company’s option, and include provisions for rental adjustments. The table below includes executed lease agreements for brand and factory house stores that the Company did not yet occupy as of December 31, 2013 and does not include contingent rent the Company may incur at its stores based on future sales above a specified minimum or payments made for maintenance, insurance and real estate taxes. The following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of December 31, 2013 as well as significant operating lease agreements entered into during the period after December 31, 2013 through the date of this report: | |||||
(In thousands) | |||||
2014 | $ | 44,292 | |||
2015 | 44,116 | ||||
2016 | 37,308 | ||||
2017 | 32,532 | ||||
2018 | 29,347 | ||||
2019 and thereafter | 136,329 | ||||
Total future minimum lease payments | $ | 323,924 | |||
Included in selling, general and administrative expense was rent expense of $41.8 million, $31.1 million and $26.7 million for the years ended December 31, 2013, 2012 and 2011, respectively, under non-cancelable operating lease agreements. Included in these amounts was contingent rent expense of $7.8 million, $6.2 million and $3.6 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||
Sponsorships and Other Marketing Commitments | |||||
Within the normal course of business, the Company enters into contractual commitments in order to promote the Company’s brand and products. These commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels, official supplier agreements, athletic event sponsorships and other marketing commitments. The following is a schedule of the Company’s future minimum payments under its sponsorship and other marketing agreements as of December 31, 2013, as well as significant sponsorship and other marketing agreements entered into during the period after December 31, 2013 through the date of this report: | |||||
(In thousands) | |||||
2014 | $ | 80,875 | |||
2015 | 59,132 | ||||
2016 | 35,440 | ||||
2017 | 25,195 | ||||
2018 | 21,351 | ||||
2019 and thereafter | 50,696 | ||||
Total future minimum sponsorship and other marketing payments | $ | 272,689 | |||
The amounts listed above are the minimum obligations required to be paid under the Company’s sponsorship and other marketing agreements. The amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements. It is not possible to determine how much the Company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products. The amount of product provided to the sponsorships depends on many factors including general playing conditions, the number of sporting events in which they participate and the Company’s decisions regarding product and marketing initiatives. In addition, the costs to design, develop, source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers. | |||||
Other | |||||
From time to time, the Company is involved in litigation and other proceedings, including matters related to commercial disputes and intellectual property, as well as trade, regulatory and other claims related to its business. The Company believes that all current proceedings are routine in nature and incidental to the conduct of its business, and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position, results of operations or cash flows. | |||||
In connection with various contracts and agreements, the Company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items. Generally, such indemnification obligations do not apply in situations in which the counterparties are grossly negligent, engage in willful misconduct, or act in bad faith. Based on the Company’s historical experience and the estimated probability of future loss, the Company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity | ' |
8. Stockholders’ Equity | |
The Company’s Class A Common Stock and Class B Convertible Common Stock have an authorized number of shares at December 31, 2013 of 200.0 million shares and 20.0 million shares, respectively, and each have a par value of $0.0003 1/3 per share. Holders of Class A Common Stock and Class B Convertible Common Stock have identical rights, including liquidation preferences, except that the holders of Class A Common Stock are entitled to one vote per share and holders of Class B Convertible Common Stock are entitled to 10 votes per share on all matters submitted to a stockholder vote. Class B Convertible Common Stock may only be held by Kevin Plank, the Company’s founder and Chief Executive Officer, or a related party of Mr. Plank, as defined in the Company’s charter. As a result, Mr. Plank has a majority voting control over the Company. Upon the transfer of shares of Class B Convertible Stock to a person other than Mr. Plank or a related party of Mr. Plank, the shares automatically convert into shares of Class A Common Stock on a one-for-one basis. In addition, all of the outstanding shares of Class B Convertible Common Stock will automatically convert into shares of Class A Common Stock on a one-for-one basis upon the death or disability of Mr. Plank or on the record date for any stockholders’ meeting upon which the shares of Class A Common Stock and Class B Convertible Common Stock beneficially owned by Mr. Plank is less than 15% of the total shares of Class A Common Stock and Class B Convertible Common Stock outstanding. Holders of the Company’s common stock are entitled to receive dividends when and if authorized and declared out of assets legally available for the payment of dividends. | |
During the year ended December 31, 2013, 1.3 million shares of Class B Convertible Common Stock were converted into shares of Class A Common Stock on a one-for-one basis in connection with stock sales. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||
9. Fair Value Measurements | |||||||||||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The fair value accounting guidance outlines a valuation framework, creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures, and prioritizes the inputs used in measuring fair value as follows: | |||||||||||||||||||||||||
Level 1: | Observable inputs such as quoted prices in active markets; | ||||||||||||||||||||||||
Level 2: | Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and | ||||||||||||||||||||||||
Level 3: | Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. | ||||||||||||||||||||||||
Financial assets and (liabilities) measured at fair value are set forth in the table below: | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Derivative foreign currency forward contracts (see Note 14) | $ | — | $ | 12 | $ | — | $ | — | $ | 5 | $ | — | |||||||||||||
Interest rate swap contract (see Note 14) | — | 1,087 | — | — | (141 | ) | — | ||||||||||||||||||
TOLI policies held by the Rabbi Trust (see Note 13) | — | 4,625 | — | — | 4,250 | — | |||||||||||||||||||
Deferred Compensation Plan obligations (see Note 13) | — | (3,338 | ) | — | — | (2,837 | ) | — | |||||||||||||||||
Fair values of the financial assets and liabilities listed above are determined using inputs that use as their basis readily observable market data that are actively quoted and are validated through external sources, including third-party pricing services and brokers. The foreign currency forward contracts represent gains and losses on derivative contracts, which is the net difference between the U.S. dollar value to be received or paid at the contracts’ settlement date and the U.S. dollar value of the foreign currency to be sold or purchased at the current forward exchange rate. The interest rate swap contract represents gains and losses on the derivative contract, which is the net difference between the fixed interest to be paid and variable interest to be received over the term of the contract based on current market rates. The fair value of the trust owned life insurance (“TOLI”) policies held by the Rabbi Trust is based on the cash-surrender value of the life insurance policies, which are invested primarily in mutual funds and a separately managed fixed income fund. These investments are initially made in the same funds and purchased in substantially the same amounts as the selected investments of participants in the Under Armour, Inc. Deferred Compensation Plan (the “Deferred Compensation Plan”), which represent the underlying liabilities to participants in the Deferred Compensation Plan. Liabilities under the Deferred Compensation Plan are recorded at amounts due to participants, based on the fair value of participants’ selected investments. | |||||||||||||||||||||||||
The carrying value of the Company's long term debt approximated its fair value as of December 31, 2013 and 2012. The fair value of the Company's long term debt was estimated based upon quoted prices for similar instruments (Level 2 input). |
Provision_For_Income_Taxes
Provision For Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Taxes Payable [Abstract] | ' | ||||||||||||
Provision For Income Taxes | ' | ||||||||||||
10. Provision for Income Taxes | |||||||||||||
Income before income taxes is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Income before income taxes: | |||||||||||||
United States | $ | 196,558 | $ | 155,514 | $ | 122,774 | |||||||
Foreign | 64,435 | 47,925 | 34,088 | ||||||||||
Total | $ | 260,993 | $ | 203,439 | $ | 156,862 | |||||||
The components of the provision for income taxes consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Current | |||||||||||||
Federal | $ | 85,542 | $ | 66,533 | $ | 38,209 | |||||||
State | 19,130 | 12,962 | 10,823 | ||||||||||
Other foreign countries | 13,295 | 8,139 | 7,291 | ||||||||||
117,967 | 87,634 | 56,323 | |||||||||||
Deferred | |||||||||||||
Federal | (14,722 | ) | (9,606 | ) | 5,604 | ||||||||
State | (5,541 | ) | (3,563 | ) | 548 | ||||||||
Other foreign countries | 959 | 196 | (2,532 | ) | |||||||||
(19,304 | ) | (12,973 | ) | 3,620 | |||||||||
Provision for income taxes | $ | 98,663 | $ | 74,661 | $ | 59,943 | |||||||
A reconciliation from the U.S. statutory federal income tax rate to the effective income tax rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory income tax rate | 35 | % | 35 | % | 35 | % | |||||||
State taxes, net of federal tax impact | 2.4 | 2.1 | 4.1 | ||||||||||
Unrecognized tax benefits | 2.5 | 2.7 | 3.1 | ||||||||||
Nondeductible expenses | 1.1 | 0.6 | 0.8 | ||||||||||
Foreign rate differential | (3.3 | ) | (4.1 | ) | (4.8 | ) | |||||||
Other | 0.1 | 0.4 | — | ||||||||||
Effective income tax rate | 37.8 | % | 36.7 | % | 38.2 | % | |||||||
The increase in the 2013 full year effective income tax rate, as compared to 2012, is primarily due to increased foreign investments driving a lower proportion of foreign taxable income, along with increased non-deductible expenses, including acquisition related expenses, in the current year. | |||||||||||||
Deferred tax assets and liabilities consisted of the following: | |||||||||||||
December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Deferred tax asset | |||||||||||||
Stock-based compensation | $ | 25,472 | $ | 13,157 | |||||||||
Allowance for doubtful accounts and other reserves | 16,262 | 14,000 | |||||||||||
Foreign net operating loss carryforward | 13,829 | 12,416 | |||||||||||
U. S. net operating loss carryforward | 10,119 | — | |||||||||||
Deferred rent | 8,980 | 6,007 | |||||||||||
Inventory obsolescence reserves | 6,269 | 4,138 | |||||||||||
Tax basis inventory adjustment | 5,633 | 3,581 | |||||||||||
State tax credits, net of federal tax impact | 5,342 | 2,856 | |||||||||||
Foreign tax credits | 3,807 | 2,210 | |||||||||||
Accrued expenses | 3,403 | 1,266 | |||||||||||
Deferred compensation | 1,372 | 1,170 | |||||||||||
Other | 5,889 | 3,652 | |||||||||||
Total deferred tax assets | 106,377 | 64,453 | |||||||||||
Less: valuation allowance | (8,091 | ) | (3,966 | ) | |||||||||
Total net deferred tax assets | 98,286 | 60,487 | |||||||||||
Deferred tax liability | |||||||||||||
Property, plant and equipment | (13,375 | ) | (10,116 | ) | |||||||||
Intangible assets | (8,627 | ) | (610 | ) | |||||||||
Prepaid expenses | (6,380 | ) | (4,153 | ) | |||||||||
Other | (447 | ) | — | ||||||||||
Total deferred tax liabilities | (28,829 | ) | (14,879 | ) | |||||||||
Total deferred tax assets, net | $ | 69,457 | $ | 45,608 | |||||||||
In connection with the Company's acquisition of MapMyFitness (see Note 3), the Company acquired $10.5 million in deferred tax assets associated with approximately $42.5 million in federal and state net operating loss (“NOLs”) carryforwards. The acquisition resulted in a “change of ownership” within the meaning of Section 382 of the Internal Revenue Code, and, as a result, such NOLs are subject to an annual limitation. Based upon the historical taxable income and projections of future taxable income over periods in which these NOLs will be deductible, the Company believes that it is more likely than not that the Company will be able to fully utilize these NOLs before the carry-forward periods expire beginning 2029 through 2033, and therefore a valuation allowance is not required. | |||||||||||||
As of December 31, 2013, the Company had $13.8 million in deferred tax assets associated with approximately $55.2 million in foreign net operating loss carryforwards which will begin to expire in 2 to 9 years. As of December 31, 2013, the Company believes certain deferred tax assets associated with foreign net operating loss carryforwards will expire unused based on the Company's projections. Therefore, a valuation allowance of $2.5 million was recorded against the Company's net deferred tax assets in 2013. | |||||||||||||
As of December 31, 2013, the Company had $3.8 million in deferred tax assets associated with foreign tax credits. As of December 31, 2013 the Company believes that a portion of the foreign taxes paid would not be creditable against its future income taxes. Therefore, a valuation allowance of $1.6 million was recorded against the Company's net deferred tax assets in 2013. | |||||||||||||
As of December 31, 2013, approximately $95.2 million of cash and cash equivalents was held by the Company's non-U.S. subsidiaries whose cumulative undistributed earnings total $102.5 million. Withholding and U.S. taxes have not been provided on the undistributed earnings as the earnings are being permanently reinvested in its non-U.S. subsidiaries. Determining the tax liability that would arise if these earnings were repatriated is not practical. | |||||||||||||
As of December 31, 2013 and 2012, the total liability for unrecognized tax benefits, including related interest and penalties, was approximately $24.1 million and $17.1 million, respectively. The following table represents a reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties, for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Beginning of year | $ | 15,297 | $ | 9,783 | $ | 5,165 | |||||||
Increases as a result of tax positions taken in a prior period | — | — | — | ||||||||||
Decreases as a result of tax positions taken in a prior period | — | — | — | ||||||||||
Increases as a result of tax positions taken during the current period | 7,526 | 5,702 | 4,959 | ||||||||||
Decreases as a result of tax positions taken during the current period | — | — | — | ||||||||||
Decreases as a result of settlements during the current period | — | — | — | ||||||||||
Reductions as a result of a lapse of statute of limitations during the current period | (1,111 | ) | (188 | ) | (341 | ) | |||||||
End of year | $ | 21,712 | $ | 15,297 | $ | 9,783 | |||||||
As of December 31, 2013, $20.1 million of unrecognized tax benefits, excluding interest and penalties, would impact the Company's effective tax rate if recognized. | |||||||||||||
As of December 31, 2013, 2012 and 2011, the liability for unrecognized tax benefits included $2.4 million, $1.8 million and $1.4 million, respectively, for the accrual of interest and penalties. For each of the years ended December 31, 2013, 2012 and 2011, the Company recorded $1.0 million, $0.7 million and $0.4 million, respectively, for the accrual of interest and penalties in its consolidated statements of income. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the consolidated statements of income. | |||||||||||||
The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The majority of the Company's returns for years before 2010 are no longer subject to U.S. federal, state and local or foreign income tax examinations by tax authorities. The Company does not expect any material changes to the total unrecognized tax benefits within the next twelve months. |
Earnings_per_Share
Earnings per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Earnings per Share | ' | ||||||||||||
11. Earnings per Share | |||||||||||||
The calculation of earnings per share for common stock shown below excludes the income attributable to outstanding restricted stock awards from the numerator and excludes the impact of these awards from the denominator. The following is a reconciliation of basic earnings per share to diluted earnings per share: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands, except per share amounts) | 2013 | 2012 | 2011 | ||||||||||
Numerator | |||||||||||||
Net income | $ | 162,330 | $ | 128,778 | $ | 96,919 | |||||||
Net income attributable to participating securities | (162 | ) | (386 | ) | (582 | ) | |||||||
Net income available to common shareholders (1) | $ | 162,168 | $ | 128,392 | $ | 96,337 | |||||||
Denominator | |||||||||||||
Weighted average common shares outstanding | 105,267 | 104,055 | 102,454 | ||||||||||
Effect of dilutive securities | 2,631 | 2,037 | 1,912 | ||||||||||
Weighted average common shares and dilutive securities outstanding | 107,898 | 106,092 | 104,366 | ||||||||||
Earnings per share—basic | $ | 1.54 | $ | 1.23 | $ | 0.94 | |||||||
Earnings per share—diluted | $ | 1.5 | $ | 1.21 | $ | 0.92 | |||||||
(1) Basic weighted average common shares outstanding | 105,267 | 104,055 | 102,454 | ||||||||||
Basic weighted average common shares outstanding and participating securities | 105,348 | 104,343 | 103,140 | ||||||||||
Percentage allocated to common stockholders | 99.9 | % | 99.7 | % | 99.4 | % | |||||||
Effects of potentially dilutive securities are presented only in periods in which they are dilutive. Stock options, restricted stock units and warrants representing 0.1 million shares of common stock were outstanding for each of the years ended December 31, 2013, 2012 and 2011, but were excluded from the computation of diluted earnings per share because their effect would be anti-dilutive. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | ||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||
. Stock-Based Compensation | |||||||||||||||||||||||
Stock Compensation Plans | |||||||||||||||||||||||
The Under Armour, Inc. Amended and Restated 2005 Omnibus Long-Term Incentive Plan (the “2005 Plan”) provides for the issuance of stock options, restricted stock, restricted stock units and other equity awards to officers, directors, key employees and other persons. Stock options and restricted stock and restricted stock unit awards under the 2005 Plan generally vest ratably over a two to four year period. The contractual term for stock options is generally ten years from the date of grant. The Company generally receives a tax deduction for any ordinary income recognized by a participant in respect to an award under the 2005 Plan. The 2005 Plan terminates in 2015. As of December 31, 2013, 9.7 million shares are available for future grants of awards under the 2005 Plan. | |||||||||||||||||||||||
Total stock-based compensation expense for the years ended December 31, 2013, 2012 and 2011 was $43.2 million, $19.8 million and $18.1 million, respectively. As of December 31, 2013, the Company had $20.0 million of unrecognized compensation expense expected to be recognized over a weighted average period of 1.2 years. This unrecognized compensation expense does not include any expense related to performance-based restricted stock units for which the performance targets have not been achieved as of December 31, 2013. Refer to “Restricted Stock and Restricted Stock Units” below for further information on these awards. | |||||||||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||||||||
The Company’s Employee Stock Purchase Plan (the “ESPP”) allows for the purchase of Class A Common Stock by all eligible employees at a 15% discount from fair market value subject to certain limits as defined in the ESPP. As of December 31, 2013, 1.5 million shares are available for future purchases under the ESPP. During the years ended December 31, 2013, 2012 and 2011, 54.2 thousand, 56.9 thousand and 59.9 thousand shares were purchased under the ESPP, respectively. | |||||||||||||||||||||||
Non-Employee Director Compensation Plan and Deferred Stock Unit Plan | |||||||||||||||||||||||
The Company’s Non-Employee Director Compensation Plan (the “Director Compensation Plan”) provides for cash compensation and equity awards to non-employee directors of the Company under the 2005 Plan. Non-employee directors have the option to defer the value of their annual cash retainers as deferred stock units in accordance with the Under Armour, Inc. Non-Employee Deferred Stock Unit Plan (the “DSU Plan”). Each new non-employee director receives an award of restricted stock units upon the initial election to the Board of Directors, with the units covering stock valued at $0.1 million on the grant date and vesting in three equal annual installments. In addition, each non-employee director receives, following each annual stockholders’ meeting, a grant under the 2005 Plan of restricted stock units covering stock valued at $75.0 thousand on the grant date. Each award vests 100% on the date of the next annual stockholders’ meeting following the grant date. | |||||||||||||||||||||||
The receipt of the shares otherwise deliverable upon vesting of the restricted stock units automatically defers into deferred stock units under the DSU Plan. Under the DSU Plan each deferred stock unit represents the Company’s obligation to issue one share of the Company’s Class A Common Stock with the shares delivered six months following the termination of the director’s service. | |||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||
The weighted average fair value of a stock option granted for the years ended December 31, 2013 and 2011 was $25.82 and $19.28, respectively. There were no stock options granted during the year ended December 31, 2012. The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: | |||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Risk-free interest rate | 1.20% | — | 1.2% - 2.6% | ||||||||||||||||||||
Average expected life in years | 6.25 | — | 6.25 | ||||||||||||||||||||
Expected volatility | 55.40% | — | 54.4% - 56.1% | ||||||||||||||||||||
Expected dividend yield | — | % | — | % | — | % | |||||||||||||||||
A summary of the Company’s stock options as of December 31, 2013, 2012 and 2011, and changes during the years then ended is presented below: | |||||||||||||||||||||||
(In thousands, except per share amounts) | Year Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Number | Weighted | Number | Weighted | Number | Weighted | ||||||||||||||||||
of Stock | Average | of Stock | Average | of Stock | Average | ||||||||||||||||||
Options | Exercise | Options | Exercise | Options | Exercise | ||||||||||||||||||
Price | Price | Price | |||||||||||||||||||||
Outstanding, beginning of year | 3,149 | $ | 15.31 | 4,808 | $ | 13.99 | 5,948 | $ | 12.66 | ||||||||||||||
Granted, at fair market value | 10 | 48.7 | — | — | 220 | 36.05 | |||||||||||||||||
Exercised | (911 | ) | 13.35 | (1,218 | ) | 10.17 | (1,126 | ) | 11.42 | ||||||||||||||
Expired | — | — | — | — | (26 | ) | 9.47 | ||||||||||||||||
Forfeited | (112 | ) | 16.82 | (441 | ) | 15.19 | (208 | ) | 13.41 | ||||||||||||||
Outstanding, end of year | 2,136 | $ | 16.22 | 3,149 | $ | 15.31 | 4,808 | $ | 13.99 | ||||||||||||||
Options exercisable, end of year | 1,173 | $ | 15.59 | 968 | $ | 13.1 | 846 | $ | 12.71 | ||||||||||||||
The intrinsic value of stock options exercised during the years ended December 31, 2013, 2012 and 2011 was $44.1 million, $44.5 million and $27.4 million, respectively. | |||||||||||||||||||||||
The following table summarizes information about stock options outstanding and exercisable as of December 31, 2013: | |||||||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||
Number of | Weighted | Weighted | Total | Number of | Weighted | Weighted | Total | ||||||||||||||||
Underlying | Average | Average | Intrinsic | Underlying | Average | Average | Intrinsic | ||||||||||||||||
Shares | Exercise | Remaining | Value | Shares | Exercise | Remaining | Value | ||||||||||||||||
Price Per | Contractual | Price Per | Contractual | ||||||||||||||||||||
Share | Life (Years) | Share | Life (Years) | ||||||||||||||||||||
2,136 | $ | 16.22 | 5.9 | $ | 151,835 | 1,173 | $ | 15.59 | 5.6 | $ | 84,140 | ||||||||||||
Included in the tables above are 2.3 million and 2.5 million performance-based stock options granted to officers and key employees under the 2005 Plan during the years ended December 31, 2010 and 2009. These performance-based stock options have a weighted average exercise price of $10.38, and a term of ten years. These performance-based options had vestings that were tied to the achievement of certain combined annual operating income targets. Upon the achievement of each of the combined operating income targets, 50% of the options vest and the remaining 50% vest one year later. As of December 31, 2013, the combined operating income targets related to all performance-based stock options were met. For performance-based stock options granted in 2009, 50% of the options vested in February 2011, and the remaining 50% vested in February 2012. For the stock options granted in 2010, 50% of the options vested in February 2013 and the remaining 50% will vest in February 2014, subject to continued employment. | |||||||||||||||||||||||
The weighted average fair value of these performance-based stock options is $5.83, and was estimated using the Black-Scholes option-pricing model consistent with the weighted average assumptions included in the table above. During the years ended December 31, 2013 and 2012, the Company recorded $1.4 million and $3.9 million, respectively, in stock-based compensation expense for these performance-based stock options. | |||||||||||||||||||||||
Restricted Stock and Restricted Stock Units | |||||||||||||||||||||||
A summary of the Company’s restricted stock and restricted stock units as of December 31, 2013, 2012 and 2011, and changes during the years then ended is presented below: | |||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(In thousands, except per share amounts) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Number | Weighted | Number | Weighted | Number | Weighted | ||||||||||||||||||
of | Average | of | Average | of | Average | ||||||||||||||||||
Restricted | Fair Value | Restricted | Fair Value | Restricted | Fair Value | ||||||||||||||||||
Shares | Shares | Shares | |||||||||||||||||||||
Outstanding, beginning of year | 2,257 | $ | 39.02 | 1,646 | $ | 29.11 | 824 | $ | 18.02 | ||||||||||||||
Granted | 841 | 52.7 | 1,329 | 45.84 | 1,576 | 33.1 | |||||||||||||||||
Forfeited | (205 | ) | 34.74 | (379 | ) | 33.45 | (454 | ) | 29.76 | ||||||||||||||
Vested | (271 | ) | 33.51 | (339 | ) | 23.31 | (300 | ) | 18.59 | ||||||||||||||
Outstanding, end of year | 2,622 | $ | 44.38 | 2,257 | $ | 39.02 | 1,646 | $ | 29.11 | ||||||||||||||
Included in the table above are 0.7 million, 1.0 million and 0.8 million performance-based restricted stock units awarded to certain executives and key employees under the 2005 Plan during the years ended December 31, 2013, 2012 and 2011, respectively. These performance-based restricted stock units have a weighted average fair value of $42.81 and have vesting that is tied to the achievement of certain combined annual operating income targets. | |||||||||||||||||||||||
As of December 31, 2013, a portion of the combined operating income targets related to the 2011 performance-based restricted stock units were achieved. For performance-based restricted stock units granted in 2011, 50% of the awards will vest in February 2014, and the remaining 50% will vest in February 2015, subject to continued employment. Upon the achievement of the combined operating income targets for the 2012 awards, 50% of the restricted stock units will vest in February 2015 and the remaining 50% will vest in February 2016. Upon the achievement of the combined operating income targets for the 2013 awards, one third of the restricted stock units will vest in February 2015, one third will vest in February 2016 and the remaining one third will vest in February 2017. If certain lower levels of combined operating income are achieved, fewer or no restricted stock units will vest, and the remaining restricted stock units will be forfeited. | |||||||||||||||||||||||
During the year ended December 31, 2013, the Company deemed the achievement of certain operating income targets probable for the awards granted in 2013, 2012 and 2011, and recorded $30.8 million for a portion of these awards, including cumulative adjustments of $9.0 million during the three months ended March 31, 2013 and $11.3 million during the three months ended December 31, 2013. During the year ended December 31, 2012, the Company deemed the achievement of certain operating income targets probable for the awards granted in 2011, and recorded $4.1 million for a portion of these awards, including a cumulative adjustment of $2.4 million during the three months ended March 31, 2012. The Company will assess the probability of the achievement of the operating income targets at the end of each reporting period. If it becomes probable that the remaining performance targets related to these performance-based restricted stock units will be achieved, a cumulative adjustment will be recorded as if ratable stock-based compensation expense had been recorded since the grant date. Additional stock based compensation of up to $5.6 million would have been recorded through December 31, 2013 for all performance-based restricted stock units had the full achievement of these operating income targets been deemed probable. | |||||||||||||||||||||||
Warrants | |||||||||||||||||||||||
In 2006, the Company issued fully vested and non-forfeitable warrants to purchase 960.0 thousand shares of the Company’s Class A Common Stock to NFL Properties as partial consideration for footwear promotional rights which were recorded as an intangible asset. With the assistance of an independent third party valuation firm, the Company assessed the fair value of the warrants using various fair value models. Using these measures, the Company concluded that the fair value of the warrants was $8.5 million. The warrants have a term of 12 years from the date of issuance and an exercise price of $18.50 per share, which is the adjusted closing price of the Company’s Class A Common Stock on the date of issuance. As of December 31, 2013, all outstanding warrants were exercisable, and no warrants were exercised. |
Other_Employee_Benefits
Other Employee Benefits | 12 Months Ended |
Dec. 31, 2013 | |
Compensation Related Costs [Abstract] | ' |
Other Employee Benefits | ' |
13. Other Employee Benefits | |
The Company offers a 401(k) Deferred Compensation Plan for the benefit of eligible employees. Employee contributions are voluntary and subject to Internal Revenue Service limitations. The Company matches a portion of the participant’s contribution and recorded expense of $2.7 million, $2.3 million and $1.8 million for the years ended December 31, 2013, 2012 and 2011, respectively. Shares of the Company’s Class A Common Stock are not an investment option in this plan. | |
In addition, the Company offers the Under Armour, Inc. Deferred Compensation Plan which allows a select group of management or highly compensated employees, as approved by the Compensation Committee, to make an annual base salary and/or bonus deferral for each year. As of December 31, 2013 and 2012, the Deferred Compensation Plan obligations were $3.3 million and $2.8 million, respectively, and were included in other long term liabilities on the consolidated balance sheets. | |
The Company established the Rabbi Trust to fund obligations to participants in the Deferred Compensation Plan. As of December 31, 2013 and 2012, the assets held in the Rabbi Trust were TOLI policies with cash-surrender values of $4.6 million and $4.3 million, respectively. These assets are consolidated and are included in other long term assets on the consolidated balance sheet. Refer to Note 9 for a discussion of the fair value measurements of the assets held in the Rabbi Trust and the Deferred Compensation Plan obligations. |
Risk_Management_and_Derivative
Risk Management and Derivatives | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Foreign Currency Risk Management and Derivatives | ' | ||||||||||||
14. Risk Management and Derivatives | |||||||||||||
Foreign Currency Risk Management | |||||||||||||
The Company is exposed to gains and losses resulting from fluctuations in foreign currency exchange rates relating to transactions generated by its international subsidiaries in currencies other than their local currencies. These gains and losses are primarily driven by intercompany transactions. From time to time, the Company may elect to enter into foreign currency forward contracts to reduce the risk associated with foreign currency exchange rate fluctuations on intercompany transactions and projected inventory purchases for its European and Canadian subsidiaries. In addition, the Company may elect to enter into foreign currency forward contracts to reduce the risk associated with foreign currency exchange rate fluctuations on Pound Sterling denominated balance sheet items. | |||||||||||||
As of December 31, 2013, the aggregate notional value of our outstanding foreign currency forward contracts was $20.6 million, which was comprised of Canadian Dollar/U.S. Dollar, Euro/U.S. Dollar, and Pound Sterling/Euro currency pairs with contract maturities of 1 month. The foreign currency forward contracts are not designated as cash flow hedges, and accordingly, changes in their fair value are recorded in earnings. The fair values of the Company’s foreign currency forward contracts were assets of $12.1 thousand and $4.8 thousand as of December 31, 2013 and 2012, respectively, and were included in prepaid expenses and other current assets on the consolidated balance sheet. Refer to Note 9 for a discussion of the fair value measurements. Included in other expense, net were the following amounts related to changes in foreign currency exchange rates and derivative foreign currency forward contracts: | |||||||||||||
(In thousands) | Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Unrealized foreign currency exchange rate gains (losses) | $ | (1,905 | ) | $ | 2,464 | $ | (4,027 | ) | |||||
Realized foreign currency exchange rate gains (losses) | 477 | (182 | ) | 298 | |||||||||
Unrealized derivative gains (losses) | 13 | 675 | (31 | ) | |||||||||
Realized derivative gains (losses) | 243 | (3,030 | ) | 1,696 | |||||||||
Interest Rate Risk Management | |||||||||||||
In order to maintain liquidity and fund business operations, the Company enters into long term debt arrangements with various lenders which bear a range of fixed and variable rates of interest. The nature and amount of the Company's long-term debt can be expected to vary as a result of future business requirements, market conditions and other factors. The Company may elect to enter into interest rate swap contracts to reduce the impact associated with interest rate fluctuations. In December 2012, the Company began utilizing an interest rate swap contract to convert a portion of variable rate debt under the $50.0 million loan to fixed rate debt. The contract pays fixed and receives variable rates of interest based on one-month LIBOR and has a maturity date of December 2019. The interest rate swap contract is accounted for as a cash flow hedge and accordingly, the effective portion of the changes in fair value are recorded in other comprehensive income and reclassified into interest expense over the life of the underlying debt obligation. | |||||||||||||
As of December 31, 2013, the notional value of the Company's outstanding interest rate swap contract was $25.0 million. During the years ended December 31, 2013 and 2012, the Company recorded a $317.6 thousand and $21.1 thousand increase in interest expense, representing the effective portion of the contract reclassified from accumulated other comprehensive income. The fair value of the interest rate swap contract was an asset of $1.1 million as of December 31, 2013, and was included in other long term assets on the consolidated balance sheet. The fair value of the interest rate swap contract was a liability of $0.1 million as of December 31, 2012, and was included in other long term liabilities on the consolidated balance sheet. | |||||||||||||
The Company enters into derivative contracts with major financial institutions with investment grade credit ratings and is exposed to credit losses in the event of non-performance by these financial institutions. This credit risk is generally limited to the unrealized gains in the contracts. However, the Company monitors the credit quality of these financial institutions and considers the risk of counterparty default to be minimal. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
. Related Party Transactions | |
The Company has an agreement to license a software system with a vendor whose Co-CEO is a director of the Company. During the years ended December 31, 2013, 2012 and 2011, the Company paid $3.7 million, $1.9 million and $1.8 million, respectively, in licensing fees and related support services to this vendor. There were no amounts payable to this related party as of December 31, 2013 and 2012. | |
The Company has an operating lease agreement with an entity controlled by the Company’s CEO to lease an aircraft for business purposes. The Company paid $1.0 million, $0.8 million and $0.7 million in lease payments to the entity for its use of the aircraft during the years ended December 31, 2013, 2012 and 2011, respectively. No amounts were payable to this related party as of December 31, 2013 and 2012. The Company determined the lease payments charged are at or below fair market lease rates. |
Segment_Data_and_Related_Infor
Segment Data and Related Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Data and Related Information | ' | ||||||||||||
16. Segment Data and Related Information | |||||||||||||
The Company’s operating segments are based on how the Chief Operating Decision Maker (“CODM”) makes decisions about allocating resources and assessing performance. As such, the CODM receives discrete financial information for the Company's principal business by geographic region based on the Company’s strategy to become a global brand. These geographic regions include North America; Latin America; Europe, the Middle East and Africa (“EMEA”); and Asia. Each geographic segment operates exclusively in one industry: the development, marketing and distribution of branded performance apparel, footwear and accessories. Beginning in 2013, the CODM also receives discrete financial information for the Company's acquired MapMyFitness business. Due to the insignificance of the EMEA, Latin America, Asia and MapMyFitness operating segments, they have been combined into other foreign countries and businesses for disclosure purposes. | |||||||||||||
The net revenues and operating income (loss) associated with the Company's segments are summarized in the following tables. Net revenues represent sales to external customers for each segment. In addition to net revenues, operating income (loss) is a primary financial measure used by the Company to evaluate performance of each segment. Intercompany balances were eliminated for separate disclosure and the majority of corporate expenses within North America have not been allocated to other foreign countries and businesses. Certain corporate services costs, previously included within North America, have been allocated to other foreign countries and businesses. Prior period segment data has been recast within the tables below to conform to current year presentation. | |||||||||||||
(In thousands) | Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net revenues | |||||||||||||
North America | $ | 2,193,739 | $ | 1,726,733 | $ | 1,383,346 | |||||||
Other foreign countries and businesses | 138,312 | 108,188 | 89,338 | ||||||||||
Total net revenues | $ | 2,332,051 | $ | 1,834,921 | $ | 1,472,684 | |||||||
(In thousands) | Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Operating income (loss) | |||||||||||||
North America | $ | 271,338 | $ | 200,084 | $ | 150,559 | |||||||
Other foreign countries and businesses | (6,240 | ) | 8,611 | 12,208 | |||||||||
Total operating income | 265,098 | 208,695 | 162,767 | ||||||||||
Interest expense, net | (2,933 | ) | (5,183 | ) | (3,841 | ) | |||||||
Other expense, net | (1,172 | ) | (73 | ) | (2,064 | ) | |||||||
Income before income taxes | $ | 260,993 | $ | 203,439 | $ | 156,862 | |||||||
Net revenues by product category are as follows: | |||||||||||||
(In thousands) | Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Apparel | $ | 1,762,150 | $ | 1,385,350 | $ | 1,122,031 | |||||||
Footwear | 298,825 | 238,955 | 181,684 | ||||||||||
Accessories | 216,098 | 165,835 | 132,400 | ||||||||||
Total net sales | 2,277,073 | 1,790,140 | 1,436,115 | ||||||||||
Licensing and other revenues | 54,978 | 44,781 | 36,569 | ||||||||||
Total net revenues | $ | 2,332,051 | $ | 1,834,921 | $ | 1,472,684 | |||||||
As of December 31, 2013 and 2012, substantially all of the Company’s long-lived assets were located in the United States. Net revenues in the United States were $2,082.5 million, $1,650.4 million and $1,325.8 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Unaudited_Quarterly_Financial_
Unaudited Quarterly Financial Data | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||||
Unaudited Quarterly Financial Data | ' | ||||||||||||||||||||
17. Unaudited Quarterly Financial Data | |||||||||||||||||||||
(In thousands) | Quarter Ended (unaudited) | Year Ended | |||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | December 31, | |||||||||||||||||
2013 | |||||||||||||||||||||
Net revenues | $ | 471,608 | $ | 454,541 | $ | 723,146 | $ | 682,756 | $ | 2,332,051 | |||||||||||
Gross profit | 216,551 | 219,631 | 350,135 | 350,353 | 1,136,670 | ||||||||||||||||
Income from operations | 13,492 | 32,310 | 120,829 | 98,467 | 265,098 | ||||||||||||||||
Net income | 7,814 | 17,566 | 72,784 | 64,166 | 162,330 | ||||||||||||||||
Earnings per share-basic | $ | 0.07 | $ | 0.17 | $ | 0.69 | $ | 0.61 | $ | 1.54 | |||||||||||
Earnings per share-diluted | $ | 0.07 | $ | 0.16 | $ | 0.68 | $ | 0.59 | $ | 1.5 | |||||||||||
2012 | |||||||||||||||||||||
Net revenues | $ | 384,389 | $ | 369,473 | $ | 575,196 | $ | 505,863 | $ | 1,834,921 | |||||||||||
Gross profit | 175,204 | 169,467 | 280,391 | 254,235 | 879,297 | ||||||||||||||||
Income from operations | 24,403 | 11,720 | 90,980 | 81,592 | 208,695 | ||||||||||||||||
Net income | 14,661 | 6,668 | 57,317 | 50,132 | 128,778 | ||||||||||||||||
Earnings per share-basic | $ | 0.14 | $ | 0.06 | $ | 0.55 | $ | 0.48 | $ | 1.23 | |||||||||||
Earnings per share-diluted | $ | 0.14 | $ | 0.06 | $ | 0.54 | $ | 0.47 | $ | 1.21 | |||||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
18. Subsequent Events | |
Acquisitions | |
On January 2, 2014, the Company acquired certain assets of its distributor in Mexico. Following the acquisition, the Company has begun selling its products in Mexico directly rather than through a distributor. The operating results for this acquisition will be included in the Company’s consolidated statements of income from the date of acquisition. The Company is currently in the process of assessing the fair value of the assets acquired and liabilities assumed, which is expected to be final during the first quarter of 2014. This acquisition is not material to the Company. | |
Stockholders’ Equity | |
In February 2014, 0.3 million shares of Class B Convertible Common Stock were converted into shares of Class A Common Stock on a one-for-one basis in connection with a stock sale. | |
Stock-Based Compensation | |
In February 2014, 0.4 million performance-based restricted stock units were awarded to certain officers and key employees under the 2005 Plan. The performance-based restricted stock units have vesting that is tied to the achievement of certain combined annual operating income targets for 2014 and 2015. Upon the achievement of the combined operating income target, one third of the restricted stock units will vest in February 2016, one third will vest in February 2017 and the remaining one third will vest in February 2018. If certain lower levels of combined operating income for 2014 and 2015 are achieved, fewer or no restricted stock units will vest at each vest date, and the remaining restricted stock units will be forfeited. |
Valuation_And_Qualifying_Accou
Valuation And Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Valuation And Qualifying Accounts | ' | ||||||||||||||||
Schedule II | |||||||||||||||||
Valuation and Qualifying Accounts | |||||||||||||||||
(In thousands) | |||||||||||||||||
Description | Balance at | Charged to | Write-Offs | Balance at | |||||||||||||
Beginning | Costs and | Net of | End of | ||||||||||||||
of Year | Expenses | Recoveries | Year | ||||||||||||||
Allowance for doubtful accounts | |||||||||||||||||
For the year ended December 31, 2013 | $ | 3,286 | $ | 210 | $ | (558 | ) | $ | 2,938 | ||||||||
For the year ended December 31, 2012 | 4,070 | (108 | ) | (676 | ) | 3,286 | |||||||||||
For the year ended December 31, 2011 | 4,869 | 699 | (1,498 | ) | 4,070 | ||||||||||||
Sales returns and allowances | |||||||||||||||||
For the year ended December 31, 2013 | $ | 32,919 | $ | 135,739 | $ | (134,556 | ) | $ | 34,102 | ||||||||
For the year ended December 31, 2012 | 20,600 | 107,536 | (95,217 | ) | 32,919 | ||||||||||||
For the year ended December 31, 2011 | 16,827 | 74,245 | (70,472 | ) | 20,600 | ||||||||||||
Deferred tax asset valuation allowance | |||||||||||||||||
For the year ended December 31, 2013 | $ | 3,996 | $ | 4,095 | $ | — | $ | 8,091 | |||||||||
For the year ended December 31, 2012 | 1,784 | 2,855 | (643 | ) | 3,996 | ||||||||||||
For the year ended December 31, 2011 | 1,765 | 1,784 | (1,765 | ) | 1,784 | ||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Basis of Presentation and Significant Accounting Policies | ' | ||||||||
Basis of Presentation | |||||||||
The accompanying consolidated financial statements include the accounts of Under Armour, Inc. and its wholly owned subsidiaries (the “Company”). All intercompany balances and transactions have been eliminated. The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America. | |||||||||
On June 11, 2012 the Board of Directors declared a two-for-one stock split of the Company's Class A and Class B common stock, which was effected in the form of a 100% common stock dividend distributed on July 9, 2012. Stockholders' equity and all references to share and per share amounts in the accompanying consolidated financial statements have been retroactively adjusted to reflect the two-for-one stock split for all periods presented. | |||||||||
Earnings Per Share, Policy | ' | ||||||||
Earnings per Share | |||||||||
Basic earnings per common share is computed by dividing net income available to common stockholders for the period by the weighted average number of common shares outstanding during the period. Any stock-based compensation awards that are determined to be participating securities, which are stock-based compensation awards that entitle the holders to receive dividends prior to vesting, are included in the calculation of basic earnings per share using the two class method. Diluted earnings per common share is computed by dividing net income available to common stockholders for the period by the diluted weighted average common shares outstanding during the period. Diluted earnings per share reflects the potential dilution from common shares issuable through stock options, warrants, restricted stock units and other equity awards. Refer to Note 11 for further discussion of earnings per share. | |||||||||
Cost Based Investment | ' | ||||||||
Minority Investment | |||||||||
The Company holds a minority investment in Dome Corporation (“Dome”), the Company’s Japanese licensee. The Company invested ¥1,140.0 million, or $15.5 million, in exchange for 19.5% common stock ownership in Dome. As of December 31, 2013 and 2012, the carrying value of the Company’s investment was $15.2 million and $14.6 million, respectively, and was included in other long term assets on the consolidated balance sheet. The investment is subject to foreign currency translation rate fluctuations as it is held by the Company’s European subsidiary. | |||||||||
The Company accounts for its investment in Dome under the cost method given that it does not have the ability to exercise significant influence. Additionally, the Company concluded that no event or change in circumstances occurred during the year ended December 31, 2013 that may have a significant adverse effect on the fair value of the investment. | |||||||||
Advertising Costs, Policy | ' | ||||||||
Advertising Costs | |||||||||
Advertising costs are charged to selling, general and administrative expenses. Advertising production costs are expensed the first time an advertisement related to such production costs is run. Media (television, print and radio) placement costs are expensed in the month during which the advertisement appears, and costs related to event sponsorships are expensed when the event occurs. In addition, advertising costs include sponsorship expenses. Accounting for sponsorship payments is based upon specific contract provisions and the payments are generally expensed uniformly over the term of the contract after recording expense related to specific performance incentives once they are deemed probable. Advertising expense, including amortization of in-store marketing fixtures and displays, was $246.5 million, $205.4 million and $167.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. At December 31, 2013 and 2012, prepaid advertising costs were $22.0 million and $17.5 million, respectively. | |||||||||
Foreign Currency Transactions and Translations Policy | ' | ||||||||
Foreign Currency Translation and Transactions | |||||||||
The functional currency for each of the Company’s wholly owned foreign subsidiaries is generally the applicable local currency. The translation of foreign currencies into U.S. dollars is performed for assets and liabilities using current foreign currency exchange rates in effect at the balance sheet date and for revenue and expense accounts using average foreign currency exchange rates during the period. Capital accounts are translated at historical foreign currency exchange rates. Translation gains and losses are included in stockholders’ equity as a component of accumulated other comprehensive income. Adjustments that arise from foreign currency exchange rate changes on transactions, primarily driven by intercompany transactions, denominated in a currency other than the functional currency are included in other expense, net on the consolidated statements of income. | |||||||||
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy | ' | ||||||||
Goodwill, Intangible Assets and Long-Lived Assets | |||||||||
Goodwill and intangible assets are recorded at their estimated fair values at the date of acquisition and are allocated to the reporting units that are expected to receive the related benefits. Goodwill and indefinite lived intangible assets are not amortized and are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. In conducting an annual impairment test, the Company first reviews qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If factors indicate that is the case, the Company performs a quantitative assessment over relevant reporting units, analyzing the expected present value of future cash flows and quantifies the amount of impairment, if any. The Company performs its annual impairment tests in the fourth quarter of each fiscal year. | |||||||||
The Company continually evaluates whether events and circumstances have occurred that indicate the remaining estimated useful life of long-lived assets may warrant revision or that the remaining balance may not be recoverable. These factors may include a significant deterioration of operating results, changes in business plans, or changes in anticipated cash flows. When factors indicate that an asset should be evaluated for possible impairment, the Company reviews long-lived assets to assess recoverability from future operations using undiscounted cash flows. If future undiscounted cash flows are less than the carrying value, an impairment is recognized in earnings to the extent that the carrying value exceeds fair value. | |||||||||
No material impairments were recorded related to goodwill, intangible assets or long-lived assets during the years ended December 31, 2013, 2012 and 2011. | |||||||||
Inventory, Policy | ' | ||||||||
Inventories | |||||||||
Inventories consist primarily of finished goods. Costs of finished goods inventories include all costs incurred to bring inventory to its current condition, including inbound freight, duties and other costs. The Company values its inventory at standard cost which approximates landed cost, using the first-in, first-out method of cost determination. Market value is estimated based upon assumptions made about future demand and retail market conditions. If the Company determines that the estimated market value of its inventory is less than the carrying value of such inventory, it records a charge to cost of goods sold to reflect the lower of cost or market. If actual market conditions are less favorable than those projected by the Company, further adjustments may be required that would increase the cost of goods sold in the period in which such a determination was made. | |||||||||
Concentration of Credit Risk | ' | ||||||||
Concentration of Credit Risk | |||||||||
Financial instruments that subject the Company to significant concentration of credit risk consist primarily of accounts receivable. The majority of the Company’s accounts receivable is due from large sporting goods retailers. Credit is extended based on an evaluation of the customer’s financial condition and collateral is not required. | |||||||||
Allowance For Doubtful Accounts | ' | ||||||||
Allowance for Doubtful Accounts | |||||||||
The Company makes ongoing estimates relating to the collectability of accounts receivable and maintains an allowance for estimated losses resulting from the inability of its customers to make required payments. In determining the amount of the reserve, the Company considers historical levels of credit losses and significant economic developments within the retail environment that could impact the ability of its customers to pay outstanding balances and makes judgments about the creditworthiness of significant customers based on ongoing credit evaluations. Because the Company cannot predict future changes in the financial stability of its customers, actual future losses from uncollectible accounts may differ from estimates. If the financial condition of customers were to deteriorate, resulting in their inability to make payments, a larger reserve might be required. In the event the Company determines a smaller or larger reserve is appropriate, it would record a benefit or charge to selling, general and administrative expense in the period in which such a determination was made. As of December 31, 2013 and 2012, the allowance for doubtful accounts was $2.9 million and $3.3 million, respectively. | |||||||||
Shipping and Handling Costs | ' | ||||||||
Shipping and Handling Costs | |||||||||
The Company charges certain customers shipping and handling fees. These fees are recorded in net revenues. The Company includes the majority of outbound handling costs as a component of selling, general and administrative expenses. Outbound handling costs include costs associated with preparing goods to ship to customers and certain costs to operate the Company’s distribution facilities. These costs, included within selling, general and administrative expenses, were $46.1 million, $34.8 million and $26.1 million for the years ended December 31, 2013, 2012 and 2011, respectively. The Company includes outbound freight costs associated with shipping goods to customers as a component of cost of goods sold. | |||||||||
Management Estimates | ' | ||||||||
Management Estimates | |||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |||||||||
Cash and Cash Equivalents, Policy | ' | ||||||||
Cash and Cash Equivalents | |||||||||
The Company considers all highly liquid investments with an original maturity of three months or less at date of inception to be cash and cash equivalents. Included in interest expense, net for the years ended December 31, 2013, 2012 and 2011 was interest income of $23.7 thousand, $25.2 thousand and $30.0 thousand, respectively, related to cash and cash equivalents. | |||||||||
Schedule Of Customers That Accounted For A Large Portion Of Net Revenues And Accounts Receivable | ' | ||||||||
The most significant customers that accounted for a large portion of net revenues and accounts receivable are as follows: | |||||||||
Customer | Customer | Customer | |||||||
A | B | C | |||||||
Net revenues | |||||||||
2013 | 16.6 | % | 5.3 | % | 4.8 | % | |||
2012 | 16.6 | % | 5.8 | % | 5.2 | % | |||
2011 | 18.2 | % | 7.4 | % | 5.6 | % | |||
Accounts receivable | |||||||||
2013 | 27.1 | % | 9.1 | % | 5.1 | % | |||
2012 | 26.4 | % | 8.8 | % | 7 | % | |||
2011 | 25.4 | % | 8.6 | % | 5.5 | % | |||
Income Tax, Policy | ' | ||||||||
Income Taxes | |||||||||
Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities at tax rates expected to be in effect when such assets or liabilities are realized or settled. Deferred income tax assets are reduced by valuation allowances when necessary. | |||||||||
Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company’s deferred tax assets, which increase income tax expense in the period when such a determination is made. | |||||||||
Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the consolidated statements of income. | |||||||||
Property, Plant and Equipment, Policy | ' | ||||||||
Property and Equipment | |||||||||
Property and equipment are stated at cost, including the cost of internal labor for software customized for internal use, less accumulated depreciation and amortization. Property and equipment is depreciated using the straight-line method over the estimated useful lives of the assets: 3 to 10 years for furniture, office equipment, software and plant equipment and 10 to 35 years for site improvements, buildings and building equipment. Leasehold and tenant improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. The cost of in-store apparel and footwear fixtures and displays are capitalized, included in furniture, fixtures and displays, and depreciated over 3 years. The Company periodically reviews assets’ estimated useful lives based upon actual experience and expected future utilization. A change in useful life is treated as a change in accounting estimate and is applied prospectively. | |||||||||
The Company capitalizes the cost of interest for long term property and equipment projects based on the Company’s weighted average borrowing rates in place while the projects are in progress. Capitalized interest was $0.4 million and $0.5 million as of December 31, 2013 and 2012, respectively. | |||||||||
Upon retirement or disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in selling, general and administrative expenses for that period. Major additions and betterments are capitalized to the asset accounts while maintenance and repairs, which do not improve or extend the lives of assets, are expensed as incurred. | |||||||||
Accrued Expenses | ' | ||||||||
Accrued Expenses | |||||||||
At December 31, 2013, accrued expenses primarily included $56.7 million and $11.9 million of accrued compensation and benefits and marketing expenses, respectively. At December 31, 2012, accrued expenses primarily included $37.9 million and $13.6 million of accrued compensation and benefits and marketing expenses, respectively. | |||||||||
Derivatives, Policy | ' | ||||||||
Derivatives and Hedging Activities | |||||||||
The Company uses derivative financial instruments in the form of foreign currency forward and interest rate swap contracts to minimize the risk associated with foreign currency exchange rate and interest rate fluctuations. The Company accounts for derivative financial instruments pursuant to applicable accounting guidance. This guidance establishes accounting and reporting standards for derivative financial instruments and requires all derivatives to be recognized as either assets or liabilities on the balance sheet and to be measured at fair value. Unrealized derivative gain positions are recorded as other current assets or other long term assets, and unrealized derivative loss positions are recorded as accrued expenses or other long term liabilities, depending on the derivative financial instrument’s maturity date. | |||||||||
Currently, the Company’s foreign currency forward contracts are not designated as cash flow hedges, and accordingly, changes in their fair value are included in other expense, net on the consolidated statements of income. The Company has designated its interest rate swap contract as a cash flow hedge and accordingly, the effective portion of changes in fair value are recorded in other comprehensive income and reclassified into interest expense over the life of the underlying debt obligation. The ineffective portion, if any, is recognized in current period earnings. The Company does not enter into derivative financial instruments for speculative or trading purposes. | |||||||||
Revenue Recognition, Policy | ' | ||||||||
Revenue Recognition | |||||||||
The Company recognizes revenue pursuant to applicable accounting standards. Net revenues consist of both net sales and license and other revenues. Net sales are recognized upon transfer of ownership, including passage of title to the customer and transfer of risk of loss related to those goods. Transfer of title and risk of loss is based upon shipment under free on board shipping point for most goods or upon receipt by the customer depending on the country of the sale and the agreement with the customer. In some instances, transfer of title and risk of loss takes place at the point of sale, for example, at the Company’s brand and factory house stores. The Company may also ship product directly from its supplier to the customer and recognize revenue when the product is delivered to and accepted by the customer. License and other revenues are primarily recognized based upon shipment of licensed products sold by the Company’s licensees. Sales taxes imposed on the Company’s revenues from product sales are presented on a net basis on the consolidated statements of income and therefore do not impact net revenues or costs of goods sold. | |||||||||
The Company records reductions to revenue for estimated customer returns, allowances, markdowns and discounts. The Company bases its estimates on historical rates of customer returns and allowances as well as the specific identification of outstanding returns, markdowns and allowances that have not yet been received by the Company. The actual amount of customer returns and allowances, which is inherently uncertain, may differ from the Company’s estimates. If the Company determines that actual or expected returns or allowances are significantly higher or lower than the reserves it established, it would record a reduction or increase, as appropriate, to net sales in the period in which it makes such a determination. Provisions for customer specific discounts are based on contractual obligations with certain major customers. Reserves for returns, allowances, markdowns and discounts are recorded as an offset to accounts receivable as settlements are made through offsets to outstanding customer invoices. As of December 31, 2013 and 2012, there were $43.8 million and $40.7 million, respectively, in reserves for customer returns, allowances, markdowns and discounts. | |||||||||
Share-based Compensation, Option and Incentive Plans Policy | ' | ||||||||
Stock-Based Compensation | |||||||||
The Company accounts for stock-based compensation in accordance with accounting guidance that requires all stock-based compensation awards granted to employees and directors to be measured at fair value and recognized as an expense in the financial statements. In addition, this guidance requires that excess tax benefits related to stock-based compensation awards be reflected as financing cash flows. | |||||||||
The Company uses the Black-Scholes option-pricing model to estimate the fair market value of stock-based compensation awards. The Company uses the “simplified method” to estimate the expected life of options, as permitted by accounting guidance. The “simplified method” calculates the expected life of a stock option equal to the time from grant to the midpoint between the vesting date and contractual term, taking into account all vesting tranches. The risk free interest rate is based on the yield for the U.S. Treasury bill with a maturity equal to the expected life of the stock option. Expected volatility is based on the Company's historical average. Compensation expense is recognized net of forfeitures on a straight-line basis over the total vesting period, which is the implied requisite service period. Compensation expense for performance-based awards is recorded over the implied requisite service period when achievement of the performance target is deemed probable. The forfeiture rate is estimated at the date of grant based on historical rates. | |||||||||
The Company issues new shares of Class A Common Stock upon exercise of stock options, grant of restricted stock or share unit conversion. Refer to Note 12 for further details on stock-based compensation. | |||||||||
Fair Value of Financial Instruments, Policy | ' | ||||||||
Fair Value of Financial Instruments | |||||||||
The carrying amounts shown for the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short term maturity of those instruments. The fair value of the long term debt approximates its carrying value based on the variable nature of interest rates and current market rates available to the Company. The fair value of foreign currency forward contracts is based on the net difference between the U.S. dollars to be received or paid at the contracts’ settlement date and the U.S. dollar value of the foreign currency to be sold or purchased at the current forward exchange rate. The fair value of the interest rate swap contract is based on the net difference between the fixed interest to be paid and variable interest to be received over the term of the contract based on current market rates. | |||||||||
New Accounting Pronouncements, Policy | ' | ||||||||
Recently Issued Accounting Standards | |||||||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update which requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions. This guidance is effective for annual and interim reporting periods beginning after December 15, 2013, with early adoption permitted. The Company believes the adoption of this pronouncement will not have a material impact on its consolidated financial statements. | |||||||||
Recently Adopted Accounting Standards | |||||||||
In February 2013, the FASB issued an Accounting Standards Update which requires companies to present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. This guidance is effective for annual and interim reporting periods beginning after December 15, 2012. The adoption of this pronouncement did not have a material impact on the Company's consolidated financial statements. | |||||||||
In July 2012, the FASB issued an Accounting Standards Update which allows companies to assess qualitative factors to determine the likelihood of indefinite-lived intangible asset impairment and whether it is necessary to perform the quantitative impairment test currently required. This guidance is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The adoption of this pronouncement did not have an impact on the Company's consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule Of Customers That Accounted For A Large Portion Of Net Revenues And Accounts Receivable | ' | ||||||||
The most significant customers that accounted for a large portion of net revenues and accounts receivable are as follows: | |||||||||
Customer | Customer | Customer | |||||||
A | B | C | |||||||
Net revenues | |||||||||
2013 | 16.6 | % | 5.3 | % | 4.8 | % | |||
2012 | 16.6 | % | 5.8 | % | 5.2 | % | |||
2011 | 18.2 | % | 7.4 | % | 5.6 | % | |||
Accounts receivable | |||||||||
2013 | 27.1 | % | 9.1 | % | 5.1 | % | |||
2012 | 26.4 | % | 8.8 | % | 7 | % | |||
2011 | 25.4 | % | 8.6 | % | 5.5 | % |
Property_And_Equipment_Net_Tab
Property And Equipment, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Components of Property and Equipment | ' | ||||||||
Property and equipment consisted of the following: | |||||||||
December 31, | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Leasehold and tenant improvements | $ | 97,776 | $ | 75,058 | |||||
Furniture, fixtures and displays | 68,045 | 59,849 | |||||||
Buildings | 45,903 | 42,533 | |||||||
Software | 51,984 | 40,836 | |||||||
Office equipment | 39,551 | 35,752 | |||||||
Plant equipment | 45,509 | 30,214 | |||||||
Land | 17,628 | 17,628 | |||||||
Construction in progress | 28,471 | 23,005 | |||||||
Other | 1,219 | 1,246 | |||||||
Subtotal property and equipment | 396,086 | 326,121 | |||||||
Accumulated depreciation | (172,134 | ) | (145,271 | ) | |||||
Property and equipment, net | $ | 223,952 | $ | 180,850 | |||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Goodwill | ' | ||||||||||||||||||||||||
The following table summarizes changes in the carrying amount of the Company’s goodwill by reportable segment as of the periods indicated: | |||||||||||||||||||||||||
(In thousands) | North America | Other foreign countries and businesses | Total | ||||||||||||||||||||||
Balance as of December 31, 2012 | $ | — | $ | — | $ | — | |||||||||||||||||||
Goodwill acquired | 119,799 | 2,445 | 122,244 | ||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 119,799 | $ | 2,445 | $ | 122,244 | |||||||||||||||||||
Summary Of Intangible Assets | ' | ||||||||||||||||||||||||
The following table summarizes the Company’s intangible assets as of the periods indicated: | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
(In thousands) | Gross | Accumulated | Net Carrying | Gross | Accumulated | Net Carrying | |||||||||||||||||||
Carrying | Amortization | Amount | Carrying | Amortization | Amount | ||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||
Intangible assets subject to amortization: | |||||||||||||||||||||||||
Technology | $ | 12,000 | $ | (126 | ) | $ | 11,874 | $ | — | $ | — | $ | — | ||||||||||||
Trade name | 5,000 | (53 | ) | 4,947 | — | — | — | ||||||||||||||||||
Customer relationships | 3,600 | (38 | ) | 3,562 | — | — | — | ||||||||||||||||||
Lease-related intangible assets | 3,896 | (2,605 | ) | 1,291 | 3,896 | (1,974 | ) | 1,922 | |||||||||||||||||
Other | 3,648 | (2,914 | ) | 734 | 3,087 | (2,215 | ) | 872 | |||||||||||||||||
Total | $ | 28,144 | $ | (5,736 | ) | $ | 22,408 | $ | 6,983 | $ | (4,189 | ) | $ | 2,794 | |||||||||||
Indefinite-lived intangible assets | 1,689 | 1,689 | |||||||||||||||||||||||
Intangible assets, net | $ | 24,097 | $ | 4,483 | |||||||||||||||||||||
Credit_Facility_and_Long_Term_1
Credit Facility and Long Term Debt (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Debt Disclosure [Abstract] | ' | |||
Scheduled Maturities of Long Term Debt | ' | |||
The following are the scheduled maturities of long term debt as of December 31, 2013: | ||||
(In thousands) | ||||
2014 | $ | 4,972 | ||
2015 | 3,951 | |||
2016 | 2,000 | |||
2017 | 2,000 | |||
2018 | 2,000 | |||
2019 and thereafter | 38,000 | |||
Total scheduled maturities of long term debt | 52,923 | |||
Less current maturities of long term debt | (4,972 | ) | ||
Long term debt obligations | $ | 47,951 | ||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Future Minimum Lease Payments For Non-Cancelable Real Property Operating Leases | ' | ||||
The following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of December 31, 2013 as well as significant operating lease agreements entered into during the period after December 31, 2013 through the date of this report: | |||||
(In thousands) | |||||
2014 | $ | 44,292 | |||
2015 | 44,116 | ||||
2016 | 37,308 | ||||
2017 | 32,532 | ||||
2018 | 29,347 | ||||
2019 and thereafter | 136,329 | ||||
Total future minimum lease payments | $ | 323,924 | |||
Future Minimum Payments Under Sponsorship And Other Marketing Agreements | ' | ||||
The following is a schedule of the Company’s future minimum payments under its sponsorship and other marketing agreements as of December 31, 2013, as well as significant sponsorship and other marketing agreements entered into during the period after December 31, 2013 through the date of this report: | |||||
(In thousands) | |||||
2014 | $ | 80,875 | |||
2015 | 59,132 | ||||
2016 | 35,440 | ||||
2017 | 25,195 | ||||
2018 | 21,351 | ||||
2019 and thereafter | 50,696 | ||||
Total future minimum sponsorship and other marketing payments | $ | 272,689 | |||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Financial Assets and (Liabilities) Measured at Fair Value | ' | ||||||||||||||||||||||||
Financial assets and (liabilities) measured at fair value are set forth in the table below: | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Derivative foreign currency forward contracts (see Note 14) | $ | — | $ | 12 | $ | — | $ | — | $ | 5 | $ | — | |||||||||||||
Interest rate swap contract (see Note 14) | — | 1,087 | — | — | (141 | ) | — | ||||||||||||||||||
TOLI policies held by the Rabbi Trust (see Note 13) | — | 4,625 | — | — | 4,250 | — | |||||||||||||||||||
Deferred Compensation Plan obligations (see Note 13) | — | (3,338 | ) | — | — | (2,837 | ) | — | |||||||||||||||||
Provision_For_Income_Taxes_Tab
Provision For Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Taxes Payable [Abstract] | ' | ||||||||||||
Income (Loss) Before Income Taxes | ' | ||||||||||||
Income before income taxes is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Income before income taxes: | |||||||||||||
United States | $ | 196,558 | $ | 155,514 | $ | 122,774 | |||||||
Foreign | 64,435 | 47,925 | 34,088 | ||||||||||
Total | $ | 260,993 | $ | 203,439 | $ | 156,862 | |||||||
Components Of The Provision For Income Taxes | ' | ||||||||||||
The components of the provision for income taxes consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Current | |||||||||||||
Federal | $ | 85,542 | $ | 66,533 | $ | 38,209 | |||||||
State | 19,130 | 12,962 | 10,823 | ||||||||||
Other foreign countries | 13,295 | 8,139 | 7,291 | ||||||||||
117,967 | 87,634 | 56,323 | |||||||||||
Deferred | |||||||||||||
Federal | (14,722 | ) | (9,606 | ) | 5,604 | ||||||||
State | (5,541 | ) | (3,563 | ) | 548 | ||||||||
Other foreign countries | 959 | 196 | (2,532 | ) | |||||||||
(19,304 | ) | (12,973 | ) | 3,620 | |||||||||
Provision for income taxes | $ | 98,663 | $ | 74,661 | $ | 59,943 | |||||||
Reconciliation From The U.S. Statutory Federal Income Tax Rate To Effective Income Tax Rate | ' | ||||||||||||
A reconciliation from the U.S. statutory federal income tax rate to the effective income tax rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory income tax rate | 35 | % | 35 | % | 35 | % | |||||||
State taxes, net of federal tax impact | 2.4 | 2.1 | 4.1 | ||||||||||
Unrecognized tax benefits | 2.5 | 2.7 | 3.1 | ||||||||||
Nondeductible expenses | 1.1 | 0.6 | 0.8 | ||||||||||
Foreign rate differential | (3.3 | ) | (4.1 | ) | (4.8 | ) | |||||||
Other | 0.1 | 0.4 | — | ||||||||||
Effective income tax rate | 37.8 | % | 36.7 | % | 38.2 | % | |||||||
Deferred Tax Assets And Liabilities | ' | ||||||||||||
Deferred tax assets and liabilities consisted of the following: | |||||||||||||
December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Deferred tax asset | |||||||||||||
Stock-based compensation | $ | 25,472 | $ | 13,157 | |||||||||
Allowance for doubtful accounts and other reserves | 16,262 | 14,000 | |||||||||||
Foreign net operating loss carryforward | 13,829 | 12,416 | |||||||||||
U. S. net operating loss carryforward | 10,119 | — | |||||||||||
Deferred rent | 8,980 | 6,007 | |||||||||||
Inventory obsolescence reserves | 6,269 | 4,138 | |||||||||||
Tax basis inventory adjustment | 5,633 | 3,581 | |||||||||||
State tax credits, net of federal tax impact | 5,342 | 2,856 | |||||||||||
Foreign tax credits | 3,807 | 2,210 | |||||||||||
Accrued expenses | 3,403 | 1,266 | |||||||||||
Deferred compensation | 1,372 | 1,170 | |||||||||||
Other | 5,889 | 3,652 | |||||||||||
Total deferred tax assets | 106,377 | 64,453 | |||||||||||
Less: valuation allowance | (8,091 | ) | (3,966 | ) | |||||||||
Total net deferred tax assets | 98,286 | 60,487 | |||||||||||
Deferred tax liability | |||||||||||||
Property, plant and equipment | (13,375 | ) | (10,116 | ) | |||||||||
Intangible assets | (8,627 | ) | (610 | ) | |||||||||
Prepaid expenses | (6,380 | ) | (4,153 | ) | |||||||||
Other | (447 | ) | — | ||||||||||
Total deferred tax liabilities | (28,829 | ) | (14,879 | ) | |||||||||
Total deferred tax assets, net | $ | 69,457 | $ | 45,608 | |||||||||
Unrecognized Tax Benefits Balances | ' | ||||||||||||
The following table represents a reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties, for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Beginning of year | $ | 15,297 | $ | 9,783 | $ | 5,165 | |||||||
Increases as a result of tax positions taken in a prior period | — | — | — | ||||||||||
Decreases as a result of tax positions taken in a prior period | — | — | — | ||||||||||
Increases as a result of tax positions taken during the current period | 7,526 | 5,702 | 4,959 | ||||||||||
Decreases as a result of tax positions taken during the current period | — | — | — | ||||||||||
Decreases as a result of settlements during the current period | — | — | — | ||||||||||
Reductions as a result of a lapse of statute of limitations during the current period | (1,111 | ) | (188 | ) | (341 | ) | |||||||
End of year | $ | 21,712 | $ | 15,297 | $ | 9,783 | |||||||
Earnings_per_Share_Tables
Earnings per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Schedule of Reconciliation of Basic Earnings per Share to Diluted Earnings per Share | ' | ||||||||||||
The following is a reconciliation of basic earnings per share to diluted earnings per share: | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands, except per share amounts) | 2013 | 2012 | 2011 | ||||||||||
Numerator | |||||||||||||
Net income | $ | 162,330 | $ | 128,778 | $ | 96,919 | |||||||
Net income attributable to participating securities | (162 | ) | (386 | ) | (582 | ) | |||||||
Net income available to common shareholders (1) | $ | 162,168 | $ | 128,392 | $ | 96,337 | |||||||
Denominator | |||||||||||||
Weighted average common shares outstanding | 105,267 | 104,055 | 102,454 | ||||||||||
Effect of dilutive securities | 2,631 | 2,037 | 1,912 | ||||||||||
Weighted average common shares and dilutive securities outstanding | 107,898 | 106,092 | 104,366 | ||||||||||
Earnings per share—basic | $ | 1.54 | $ | 1.23 | $ | 0.94 | |||||||
Earnings per share—diluted | $ | 1.5 | $ | 1.21 | $ | 0.92 | |||||||
(1) Basic weighted average common shares outstanding | 105,267 | 104,055 | 102,454 | ||||||||||
Basic weighted average common shares outstanding and participating securities | 105,348 | 104,343 | 103,140 | ||||||||||
Percentage allocated to common stockholders | 99.9 | % | 99.7 | % | 99.4 | % |
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | ||||||||||||||||||||||
Schedule of Share-based Payment Award, Valuation Assumptions | ' | ||||||||||||||||||||||
The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: | |||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Risk-free interest rate | 1.20% | — | 1.2% - 2.6% | ||||||||||||||||||||
Average expected life in years | 6.25 | — | 6.25 | ||||||||||||||||||||
Expected volatility | 55.40% | — | 54.4% - 56.1% | ||||||||||||||||||||
Expected dividend yield | — | % | — | % | — | % | |||||||||||||||||
Summary Of Stock Options Activity | ' | ||||||||||||||||||||||
A summary of the Company’s stock options as of December 31, 2013, 2012 and 2011, and changes during the years then ended is presented below: | |||||||||||||||||||||||
(In thousands, except per share amounts) | Year Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Number | Weighted | Number | Weighted | Number | Weighted | ||||||||||||||||||
of Stock | Average | of Stock | Average | of Stock | Average | ||||||||||||||||||
Options | Exercise | Options | Exercise | Options | Exercise | ||||||||||||||||||
Price | Price | Price | |||||||||||||||||||||
Outstanding, beginning of year | 3,149 | $ | 15.31 | 4,808 | $ | 13.99 | 5,948 | $ | 12.66 | ||||||||||||||
Granted, at fair market value | 10 | 48.7 | — | — | 220 | 36.05 | |||||||||||||||||
Exercised | (911 | ) | 13.35 | (1,218 | ) | 10.17 | (1,126 | ) | 11.42 | ||||||||||||||
Expired | — | — | — | — | (26 | ) | 9.47 | ||||||||||||||||
Forfeited | (112 | ) | 16.82 | (441 | ) | 15.19 | (208 | ) | 13.41 | ||||||||||||||
Outstanding, end of year | 2,136 | $ | 16.22 | 3,149 | $ | 15.31 | 4,808 | $ | 13.99 | ||||||||||||||
Options exercisable, end of year | 1,173 | $ | 15.59 | 968 | $ | 13.1 | 846 | $ | 12.71 | ||||||||||||||
Stock Options Outstanding And Exercisable | ' | ||||||||||||||||||||||
The following table summarizes information about stock options outstanding and exercisable as of December 31, 2013: | |||||||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||
Number of | Weighted | Weighted | Total | Number of | Weighted | Weighted | Total | ||||||||||||||||
Underlying | Average | Average | Intrinsic | Underlying | Average | Average | Intrinsic | ||||||||||||||||
Shares | Exercise | Remaining | Value | Shares | Exercise | Remaining | Value | ||||||||||||||||
Price Per | Contractual | Price Per | Contractual | ||||||||||||||||||||
Share | Life (Years) | Share | Life (Years) | ||||||||||||||||||||
2,136 | $ | 16.22 | 5.9 | $ | 151,835 | 1,173 | $ | 15.59 | 5.6 | $ | 84,140 | ||||||||||||
Summary Of Restricted Stock And Restricted Stock Units | ' | ||||||||||||||||||||||
A summary of the Company’s restricted stock and restricted stock units as of December 31, 2013, 2012 and 2011, and changes during the years then ended is presented below: | |||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(In thousands, except per share amounts) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Number | Weighted | Number | Weighted | Number | Weighted | ||||||||||||||||||
of | Average | of | Average | of | Average | ||||||||||||||||||
Restricted | Fair Value | Restricted | Fair Value | Restricted | Fair Value | ||||||||||||||||||
Shares | Shares | Shares | |||||||||||||||||||||
Outstanding, beginning of year | 2,257 | $ | 39.02 | 1,646 | $ | 29.11 | 824 | $ | 18.02 | ||||||||||||||
Granted | 841 | 52.7 | 1,329 | 45.84 | 1,576 | 33.1 | |||||||||||||||||
Forfeited | (205 | ) | 34.74 | (379 | ) | 33.45 | (454 | ) | 29.76 | ||||||||||||||
Vested | (271 | ) | 33.51 | (339 | ) | 23.31 | (300 | ) | 18.59 | ||||||||||||||
Outstanding, end of year | 2,622 | $ | 44.38 | 2,257 | $ | 39.02 | 1,646 | $ | 29.11 | ||||||||||||||
Risk_Management_and_Derivative1
Risk Management and Derivatives (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Changes in Foreign Currency Exchange Rates and Derivative Foreign Currency Forward Contracts | ' | ||||||||||||
Included in other expense, net were the following amounts related to changes in foreign currency exchange rates and derivative foreign currency forward contracts: | |||||||||||||
(In thousands) | Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Unrealized foreign currency exchange rate gains (losses) | $ | (1,905 | ) | $ | 2,464 | $ | (4,027 | ) | |||||
Realized foreign currency exchange rate gains (losses) | 477 | (182 | ) | 298 | |||||||||
Unrealized derivative gains (losses) | 13 | 675 | (31 | ) | |||||||||
Realized derivative gains (losses) | 243 | (3,030 | ) | 1,696 | |||||||||
Segment_Data_and_Related_Infor1
Segment Data and Related Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Reconciliation of Revenue from Segments to Consolidated | ' | ||||||||||||
(In thousands) | Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net revenues | |||||||||||||
North America | $ | 2,193,739 | $ | 1,726,733 | $ | 1,383,346 | |||||||
Other foreign countries and businesses | 138,312 | 108,188 | 89,338 | ||||||||||
Total net revenues | $ | 2,332,051 | $ | 1,834,921 | $ | 1,472,684 | |||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | ' | ||||||||||||
(In thousands) | Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Operating income (loss) | |||||||||||||
North America | $ | 271,338 | $ | 200,084 | $ | 150,559 | |||||||
Other foreign countries and businesses | (6,240 | ) | 8,611 | 12,208 | |||||||||
Total operating income | 265,098 | 208,695 | 162,767 | ||||||||||
Interest expense, net | (2,933 | ) | (5,183 | ) | (3,841 | ) | |||||||
Other expense, net | (1,172 | ) | (73 | ) | (2,064 | ) | |||||||
Income before income taxes | $ | 260,993 | $ | 203,439 | $ | 156,862 | |||||||
Net Revenues by Product Category | ' | ||||||||||||
Net revenues by product category are as follows: | |||||||||||||
(In thousands) | Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Apparel | $ | 1,762,150 | $ | 1,385,350 | $ | 1,122,031 | |||||||
Footwear | 298,825 | 238,955 | 181,684 | ||||||||||
Accessories | 216,098 | 165,835 | 132,400 | ||||||||||
Total net sales | 2,277,073 | 1,790,140 | 1,436,115 | ||||||||||
Licensing and other revenues | 54,978 | 44,781 | 36,569 | ||||||||||
Total net revenues | $ | 2,332,051 | $ | 1,834,921 | $ | 1,472,684 | |||||||
Unaudited_Quarterly_Financial_1
Unaudited Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||||
Selected Quarterly Financial Data | ' | ||||||||||||||||||||
(In thousands) | Quarter Ended (unaudited) | Year Ended | |||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | December 31, | |||||||||||||||||
2013 | |||||||||||||||||||||
Net revenues | $ | 471,608 | $ | 454,541 | $ | 723,146 | $ | 682,756 | $ | 2,332,051 | |||||||||||
Gross profit | 216,551 | 219,631 | 350,135 | 350,353 | 1,136,670 | ||||||||||||||||
Income from operations | 13,492 | 32,310 | 120,829 | 98,467 | 265,098 | ||||||||||||||||
Net income | 7,814 | 17,566 | 72,784 | 64,166 | 162,330 | ||||||||||||||||
Earnings per share-basic | $ | 0.07 | $ | 0.17 | $ | 0.69 | $ | 0.61 | $ | 1.54 | |||||||||||
Earnings per share-diluted | $ | 0.07 | $ | 0.16 | $ | 0.68 | $ | 0.59 | $ | 1.5 | |||||||||||
2012 | |||||||||||||||||||||
Net revenues | $ | 384,389 | $ | 369,473 | $ | 575,196 | $ | 505,863 | $ | 1,834,921 | |||||||||||
Gross profit | 175,204 | 169,467 | 280,391 | 254,235 | 879,297 | ||||||||||||||||
Income from operations | 24,403 | 11,720 | 90,980 | 81,592 | 208,695 | ||||||||||||||||
Net income | 14,661 | 6,668 | 57,317 | 50,132 | 128,778 | ||||||||||||||||
Earnings per share-basic | $ | 0.14 | $ | 0.06 | $ | 0.55 | $ | 0.48 | $ | 1.23 | |||||||||||
Earnings per share-diluted | $ | 0.14 | $ | 0.06 | $ | 0.54 | $ | 0.47 | $ | 1.21 | |||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Schedule Of Customers That Accounted For A Large Portion Of Net Revenues And Accounts Receivable) (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Customer A | Net Revenues | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk | 16.60% | 16.60% | 18.20% |
Customer A | Accounts Receivable | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk | 27.10% | 26.40% | 25.40% |
Customer B | Net Revenues | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk | 5.30% | 5.80% | 7.40% |
Customer B | Accounts Receivable | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk | 9.10% | 8.80% | 8.60% |
Customer C | Net Revenues | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk | 4.80% | 5.20% | 5.60% |
Customer C | Accounts Receivable | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk | 5.10% | 7.00% | 5.50% |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Narrative) (Detail) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 31, 2011 | Jan. 31, 2011 | |
USD ($) | USD ($) | USD ($) | Dome Corporation | Furniture Office Equipment And Software | Furniture Office Equipment And Software | Site Improvement Buildings And Building Equipment | Site Improvement Buildings And Building Equipment | Fixtures And Displays | Japan, Yen | United States of America, Dollars | |
Minimum | Maximum | Minimum | Maximum | Dome Corporation | Dome Corporation | ||||||
JPY (¥) | USD ($) | ||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and Dividend Income, Securities, Operating, Trading or Measured at Fair Value | $23,700 | $25,200 | $30,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts receivable | 2,900,000 | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life | ' | ' | ' | ' | '3 years | '10 years | '10 years | '35 years | '3 years | ' | ' |
Interest Costs Capitalized | 400,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued liabilities accrued compensation and benefits | 56,700,000 | 37,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued Liabilities Accrued Marketing Expenses | 11,900,000 | 13,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reserves For Customer Returns Allowances Markdowns And Discounts | 43,800,000 | 40,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising Expense | 246,500,000 | 205,400,000 | 167,900,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid Advertising | 22,000,000 | 17,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shipping and handling costs | 46,100,000 | 34,800,000 | 26,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cost Method Investments | $15,200,000 | $14,600,000 | ' | ' | ' | ' | ' | ' | ' | ¥ 1,140,000,000 | $15,500,000 |
Ownership Percentage Cost Method Investment | ' | ' | ' | 19.50% | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Narrative_Details
Acquisitions - Narrative (Details) (USD $) | 1 Months Ended | 5 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
Jul. 31, 2011 | Nov. 30, 2010 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-11 | Dec. 06, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
sqft | Term Loan Facility [Member] | MapMyFitness | Technology-Based Intangible Assets [Member] | Technology-Based Intangible Assets [Member] | Trade Names [Member] | Trade Names [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Minimum | Minimum | Maximum | Maximum | ||||||
MapMyFitness | MapMyFitness | |||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Interest in Acquiree, Percentage | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | $150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from revolving credit facility | ' | ' | ' | 100,000,000 | 0 | 30,000,000 | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangibles Acquired | ' | ' | ' | ' | ' | ' | ' | 20,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Acquired During Period | ' | ' | ' | 122,244,000 | ' | ' | ' | 122,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Assets, Net Acquired | ' | ' | ' | ' | ' | ' | ' | 6,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Net Acquired | ' | ' | ' | ' | ' | ' | ' | 4,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | ' | ' | ' | 28,144,000 | 6,983,000 | ' | ' | ' | 12,000,000 | 0 | 5,000,000 | 0 | 3,600,000 | 0 | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | '84 months | ' | '48 months | ' | '24 months | ' | '55 months | '2 years | '120 months | '7 years |
Acquisitions Related Costs | ' | ' | 1,900,000 | ' | ' | 1,900,000 | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Square footage of office space acquired | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant Acquisitions and Disposals, Acquisition Costs or Sale Proceeds | 60,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Square footage of office space leased | 116,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease remaining term, minimum | '1 month | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease remaining term, maximum | '12 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt assumed and property and equipment acquired in connection with purchase of corporate headquarters | 38,600,000 | ' | ' | 0 | 0 | 38,556,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price funded through term loan | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposit paid upon signing purchase agreement | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of property on the date of acquisition | 63,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on bargain purchase of corporate headquarters (excludes transaction costs of $1.9 million) | ' | ' | ' | $0 | $0 | $3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property_And_Equipment_Net_Com
Property And Equipment, Net (Components Of Property And Equipment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | $396,086 | $326,121 |
Accumulated depreciation | -172,134 | -145,271 |
Property and equipment, net | 223,952 | 180,850 |
Leasehold and tenant improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 97,776 | 75,058 |
Furniture, fixtures and displays | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 68,045 | 59,849 |
Buildings | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 45,903 | 42,533 |
Software | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 51,984 | 40,836 |
Office equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 39,551 | 35,752 |
Plant equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 45,509 | 30,214 |
Land | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 17,628 | 17,628 |
Construction in progress | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 28,471 | 23,005 |
Other | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | $1,219 | $1,246 |
Property_And_Equipment_Net_Nar
Property And Equipment, Net (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $50,549 | $43,082 | $36,301 |
Property And Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $48,300 | $39,800 | $32,700 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets, Net - Schedule of Goodwill (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Goodwill [Roll Forward] | ' |
Goodwill | $0 |
Goodwill, Acquired During Period | 122,244 |
Goodwill | 122,244 |
North America [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill | 0 |
Goodwill, Acquired During Period | 119,799 |
Goodwill | 119,799 |
Other Foreign Countries [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill | 0 |
Goodwill, Acquired During Period | 2,445 |
Goodwill | $2,445 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets, Net - Summary Of Intangible Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | $28,144 | $6,983 |
Intangible assets, Accumulated Amortization | -5,736 | -4,189 |
Intangible assets, Net Carrying Amount | 22,408 | 2,794 |
Indefinite-lived intangible assets | 1,689 | 1,689 |
Intangible assets, net | 24,097 | 4,483 |
Technology-Based Intangible Assets [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 12,000 | 0 |
Intangible assets, Accumulated Amortization | -126 | 0 |
Intangible assets, Net Carrying Amount | 11,874 | 0 |
Trade Names [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 5,000 | 0 |
Intangible assets, Accumulated Amortization | -53 | 0 |
Intangible assets, Net Carrying Amount | 4,947 | 0 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 3,600 | 0 |
Intangible assets, Accumulated Amortization | -38 | 0 |
Intangible assets, Net Carrying Amount | 3,562 | 0 |
Lease-related intangible assets | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 3,896 | 3,896 |
Intangible assets, Accumulated Amortization | -2,605 | -1,974 |
Intangible assets, Net Carrying Amount | 1,291 | 1,922 |
Other | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 3,648 | 3,087 |
Intangible assets, Accumulated Amortization | -2,914 | -2,215 |
Intangible assets, Net Carrying Amount | $734 | $872 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets, Net - Narrative (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | $1.60 | $2.20 | $2.90 |
Estimated Amortization of Intangible Assets, 2014 | 5.4 | ' | ' |
Estimated Amortization of Intangible Assets, 2015 | 5 | ' | ' |
Estimated Amortization of Intangible Assets, 2016 | 3.3 | ' | ' |
Estimated Amortization of Intangible Assets, 2017 | 3.1 | ' | ' |
Estimated Amortization of Intangible Assets, 2018 | $1.90 | ' | ' |
Technology-Based Intangible Assets [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Estimated useful life of intangible assets | '84 months | ' | ' |
Trade Names [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Estimated useful life of intangible assets | '48 months | ' | ' |
Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Estimated useful life of intangible assets | '24 months | ' | ' |
Minimum | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Estimated useful life of intangible assets | '55 months | ' | ' |
Minimum | Lease-related intangible assets | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Estimated useful life of intangible assets | '9 months | ' | ' |
Maximum | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Estimated useful life of intangible assets | '120 months | ' | ' |
Maximum | Lease-related intangible assets | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Estimated useful life of intangible assets | '15 years | ' | ' |
Credit_Facility_and_Long_Term_2
Credit Facility and Long Term Debt - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
Jul. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Minimum | Maximum | LIBOR Rate [Member] | Prime Rate [Member] | Nonrecourse Loan [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Letter of Credit [Member] | $325 Million Credit Facility [Member] | Line of Credit [Member] | ||||||
LIBOR Rate [Member] | ||||||||||||||||
Debt Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Facility Term Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | '4 years | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | ' |
Credit facility maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,000,000 | ' | $300,000,000 |
Additional increase under credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 |
Percentage of equity interest in foreign subsidiaries pledged for revolving credit facility | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate margin, minimum | ' | ' | ' | ' | ' | ' | ' | 1.25% | 0.25% | ' | ' | ' | ' | ' | ' | ' |
Interest rate margin, maximum | ' | ' | ' | ' | ' | ' | ' | 1.75% | 0.75% | ' | ' | ' | ' | ' | ' | ' |
Commitment fee as percentage of the committed line amount less outstanding borrowings and letters of credit | ' | ' | ' | ' | ' | 0.25% | 0.35% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate of credit facility | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total additional finance under long term debt agreements | ' | 40,000,000 | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity under long term debt agreements | ' | 18,000,000 | 18,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt agreements principal outstanding | ' | 4,900,000 | 4,900,000 | 11,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate on outstanding borrowings | ' | ' | 3.30% | 3.70% | 3.50% | ' | ' | ' | ' | ' | ' | 1.70% | ' | ' | ' | ' |
Debt assumed and property and equipment acquired in connection with purchase of corporate headquarters | 38,600,000 | ' | 0 | 0 | 38,556,000 | ' | ' | ' | ' | 38,600,000 | ' | ' | ' | ' | ' | ' |
Debt assumed original term (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Mar-13 | 1-Dec-19 | ' | ' | ' | ' | ' |
Mortgage Loans on Real Estate, Periodic Payment Terms, Balloon Payment to be Received | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,300,000 | ' | ' | ' | ' | ' | ' |
Interest rate on assumed loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.73% | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Debt | ' | ' | 5,471,000 | 44,330,000 | 7,418,000 | ' | ' | ' | ' | ' | 37,700,000 | ' | ' | ' | ' | ' |
Interest expense | ' | ' | 2,900,000 | 5,200,000 | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | 48,000,000 | ' | ' | ' | ' |
Revolving credit facility | ' | $100,000,000 | $100,000,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit_Facility_and_Long_Term_3
Credit Facility and Long Term Debt - Scheduled Maturities Of Long Term Debt (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2014 | $4,972 | ' |
2015 | 3,951 | ' |
2016 | 2,000 | ' |
2017 | 2,000 | ' |
2018 | 2,000 | ' |
2019 and thereafter | 38,000 | ' |
Total scheduled maturities of long term debt | 52,923 | ' |
Less current maturities of long term debt | -4,972 | -9,132 |
Long term debt obligations | $47,951 | $52,757 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Rent expense included in selling, general and administrative expense | $41.80 | $31.10 | $26.70 |
Contingent rent expense | $7.80 | $6.20 | $3.60 |
Commitments_And_Contingencies_2
Commitments And Contingencies (Future Minimum Lease Payments For Non-Cancelable Real Property Operating Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leased Assets | ' |
2014 | $44,292 |
2015 | 44,116 |
2016 | 37,308 |
2017 | 32,532 |
2018 | 29,347 |
2019 and thereafter | 136,329 |
Total future minimum lease payments | $323,924 |
Commitments_And_Contingencies_3
Commitments And Contingencies (Future Minimum Payments Under Sponsorship And Other Marketing Agreements) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Schedule of Future Minimum Payments on Sponsorship and Other Marketing Agreements [Line Items] | ' |
Future Minimum Payments Under Sponsorship And Other Marketing Agreements Due 2014 | $80,875 |
Future Minimum Payments Under Sponsorship And Other Marketing Agreements Due 2015 | 59,132 |
Future Minimum Payments Under Sponsorship And Other Marketing Agreements Due 2016 | 35,440 |
Future Minimum Payments Under Sponsorship And Other Marketing Agreements Due 2017 | 25,195 |
Future Minimum Payments Under Sponsorship And Other Marketing Agreements Due 2018 | 21,351 |
Future Minimum Payments Under Sponsorship And Other Marketing Agreements Due 2019 and Thereafter | 50,696 |
Total future minimum sponsorship and other marketing payments | $272,689 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
vote | |||
Class A Common Stock | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Shares authorized | 200,000,000 | 200,000,000 | ' |
Par value per share | $0.00 | $0.00 | ' |
Number of votes per share | 1 | ' | ' |
Number of shares of Class A Common Shares issued per share upon conversion | 1,300,000 | 1,200,000 | 2,500,000 |
Class B Convertible Common Stock | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Shares authorized | 20,000,000 | 21,300,000 | ' |
Par value per share | $0.00 | $0.00 | ' |
Number of votes per share | 10 | ' | ' |
Number of shares of Class A Common Shares issued per share upon conversion | -1,300,000 | -1,200,000 | -2,500,000 |
Class A Common Stock And Class B Convertible Common Stock | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Class B Convertible Common Stock converted to Class A Common Stock, ratio | 'one-for-one | ' | ' |
Maximum | Class A Common Stock And Class B Convertible Common Stock | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Beneficial ownership percentage of CEO | 15.00% | ' | ' |
Fair_Value_Measurements_Financ
Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
TOLI policies held by the Rabbi Trust | $0 | $0 |
Deferred Compensation Plan obligations | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
TOLI policies held by the Rabbi Trust | 4,625 | 4,250 |
Deferred Compensation Plan obligations | -3,338 | -2,837 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
TOLI policies held by the Rabbi Trust | 0 | 0 |
Deferred Compensation Plan obligations | 0 | 0 |
Foreign Exchange Forward [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative foreign currency forward contracts (refer to Note 8) | 0 | 0 |
Foreign Exchange Forward [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative foreign currency forward contracts (refer to Note 8) | 12 | 5 |
Foreign Exchange Forward [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative foreign currency forward contracts (refer to Note 8) | 0 | 0 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest Rate Derivatives, at Fair Value, Net | 0 | 0 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest Rate Derivatives, at Fair Value, Net | 1,087 | -141 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest Rate Derivatives, at Fair Value, Net | $0 | $0 |
Provision_For_Income_Taxes_Inc
Provision For Income Taxes - Income (Loss) Before Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Taxes Payable [Abstract] | ' | ' | ' |
United States | $196,558 | $155,514 | $122,774 |
Foreign | 64,435 | 47,925 | 34,088 |
Income before income taxes | $260,993 | $203,439 | $156,862 |
Provision_For_Income_Taxes_Com
Provision For Income Taxes - Components Of The Provision For Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Taxes Payable [Abstract] | ' | ' | ' |
Federal, Current | $85,542 | $66,533 | $38,209 |
State, Current | 19,130 | 12,962 | 10,823 |
Other foreign countries, Current | 13,295 | 8,139 | 7,291 |
Provision for income taxes, Current | 117,967 | 87,634 | 56,323 |
Federal, Deferred | -14,722 | -9,606 | 5,604 |
State, Deferred | -5,541 | -3,563 | 548 |
Other foreign countries, Deferred | 959 | 196 | -2,532 |
Provision for income taxes, Deferred | -19,304 | -12,973 | 3,620 |
Provision for income taxes | $98,663 | $74,661 | $59,943 |
Provision_For_Income_Taxes_Rec
Provision For Income Taxes - Reconciliation From The U.S. Statutory Federal Income Tax Rate To Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Taxes Payable [Abstract] | ' | ' | ' |
U.S. federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
State taxes, net of federal tax impact | 2.40% | 2.10% | 4.10% |
Unrecognized tax benefits | 2.50% | 2.70% | 3.10% |
Nondeductible expenses | 1.10% | 0.60% | 0.80% |
Foreign rate differential | -3.30% | -4.10% | -4.80% |
Other | 0.10% | 0.40% | 0.00% |
Effective income tax rate | 37.80% | 36.70% | 38.20% |
Provision_For_Income_Taxes_Def
Provision For Income Taxes - Deferred Tax Assets And Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax asset | ' | ' |
Stock-based compensation | $25,472 | $13,157 |
Allowance for doubtful accounts and other reserves | 16,262 | 14,000 |
Foreign net operating loss carryforward | 13,829 | 12,416 |
U. S. net operating loss carryforward | 10,119 | 0 |
Deferred rent | 8,980 | 6,007 |
Inventory obsolescence reserves | 6,269 | 4,138 |
Tax basis inventory adjustment | 5,633 | 3,581 |
State tax credits, net of federal tax impact | 5,342 | 2,856 |
Foreign tax credits | 3,807 | 2,210 |
Accrued expenses | 3,403 | 1,266 |
Deferred compensation | 1,372 | 1,170 |
Other | 5,889 | 3,652 |
Total deferred tax assets | 106,377 | 64,453 |
Less: valuation allowance | -8,091 | -3,966 |
Total net deferred tax assets | 98,286 | 60,487 |
Deferred tax liability | ' | ' |
Property, plant and equipment | -13,375 | -10,116 |
Intangible assets | -8,627 | -610 |
Prepaid expenses | -6,380 | -4,153 |
Other | -447 | 0 |
Total deferred tax liabilities | -28,829 | -14,879 |
Total deferred tax assets, net | $69,457 | $45,608 |
Provision_For_Income_Taxes_Unr
Provision For Income Taxes - Unrecognized Tax Benefits Balances (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Beginning of year | $15,297 | $9,783 | $5,165 |
Increases as a result of tax positions taken in a prior period | 0 | 0 | 0 |
Decreases as a result of tax positions taken in a prior period | 0 | 0 | 0 |
Increases as a result of tax positions taken during the current period | 7,526 | 5,702 | 4,959 |
Decreases as a result of tax positions taken during the current period | 0 | 0 | 0 |
Decreases as a result of settlements during the current period | 0 | 0 | 0 |
Reductions as a result of a lapse of statute of limitations during the current period | -1,111 | -188 | -341 |
End of year | $21,712 | $15,297 | $9,783 |
Provision_For_Income_Taxes_Nar
Provision For Income Taxes - Narrative (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Contingency [Line Items] | ' | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $10,119,000 | $0 | ' |
Foreign net operating loss carryforward | 13,829,000 | 12,416,000 | ' |
Operating Loss Carryforwards | 55,200,000 | ' | ' |
Valuation allowance recorded during period | 2,500,000 | ' | ' |
Deferred tax assets associated with foreign tax credits | 3,800,000 | ' | ' |
Valuation Allowances and Reserves, Recoveries | 1,600,000 | ' | ' |
Cash and Cash Equivalents Held by Foreign Subsidiaries | 95,200,000 | ' | ' |
Undistributed Earnings, Basic | 102,500,000 | ' | ' |
Unrecognized Tax Benefits Including Interest And Penalties | 24,100,000 | 17,100,000 | ' |
Unrecognized tax benefits excluding interest and penalties that would impact the effective tax rate if recognized | 20,100,000 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 2,400,000 | 1,800,000 | 1,400,000 |
Accrual of interest and penalties | 1,000,000 | 700,000 | 400,000 |
Minimum | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Deferred Tax Assets, Net Operating Loss Carryforwards, Domestic Expiration | '2029 | ' | ' |
Foreign net operating loss carryforwards expiration period (years) | '2 years | ' | ' |
Maximum | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Deferred Tax Assets, Net Operating Loss Carryforwards, Domestic Expiration | '2033 | ' | ' |
Foreign net operating loss carryforwards expiration period (years) | '9 years | ' | ' |
MapMyFitness | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 10,500,000 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards | $42,500,000 | ' | ' |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Detail) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive shares excluded from the computation of diluted earnings per share | 0.1 | 0.1 | 0.1 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Reconciliation Of Basic Earnings Per Share To Diluted Earnings Per Share) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Earnings Per Share Schedule Of Reconciliation Of Basic Earnings Per Share To Diluted Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $64,166 | $72,784 | $17,566 | $7,814 | $50,132 | $57,317 | $6,668 | $14,661 | $162,330 | $128,778 | $96,919 |
Net income attributable to participating securities | ' | ' | ' | ' | ' | ' | ' | ' | -162 | -386 | -582 |
Net income available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $162,168 | $128,392 | $96,337 |
Weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 105,267 | 104,055 | 102,454 |
Effect of dilutive securities | ' | ' | ' | ' | ' | ' | ' | ' | 2,631 | 2,037 | 1,912 |
Weighted average common shares and dilutive securities outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 107,898 | 106,092 | 104,366 |
Earnings per share - basic | $0.61 | $0.69 | $0.17 | $0.07 | $0.48 | $0.55 | $0.06 | $0.14 | $1.54 | $1.23 | $0.94 |
Earnings per share - diluted | $0.59 | $0.68 | $0.16 | $0.07 | $0.47 | $0.54 | $0.06 | $0.14 | $1.50 | $1.21 | $0.92 |
Weighted Average Number of Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 105,348 | 104,343 | 103,140 |
Percentage Allocated To Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 99.90% | 99.70% | 99.40% |
StockBased_Compensation_Schedu
Stock-Based Compensation - Schedule of Share-based Payment Award, Valuation Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | ' | ' |
Risk-free interest rate, minimum | 1.20% | 0.00% | 1.20% |
Risk-free interest rate, maximum | 1.20% | 0.00% | 2.60% |
Average expected life in years | '6 years 3 months | '0 years | '6 years 3 months |
Expected volatility, minimum | 55.40% | 0.00% | 54.40% |
Expected volatility, maximum | 55.40% | 0.00% | 56.10% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary Of Stock Options Activity (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Outstanding, beginning of year, Number of Stock Options | 3,149 | 4,808 | 5,948 |
Granted, at fair market value, Number of Stock Options | 10 | 0 | 220 |
Exercised, Number of Stock Options | -911 | -1,218 | -1,126 |
Expired, Number of Stock Options | 0 | 0 | -26 |
Forfeited, Number of Stock Options | -112 | -441 | -208 |
Outstanding, end of year, Number of Stock Options | 2,136 | 3,149 | 4,808 |
Options exercisable, end of year, Number of Stock Options | 1,173 | 968 | 846 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' |
Outstanding, beginning of year, Weighted Average Exercise Price | $15.31 | $13.99 | $12.66 |
Granted, at fair market value, Weighted Average Exercise Price | $48.70 | $0 | $36.05 |
Exercised, Weighted Average Exercise Price | $13.35 | $10.17 | $11.42 |
Expired, Weighted Average Exercise Price | $0 | $0 | $9.47 |
Forfeited, Weighted Average Exercise Price | $16.82 | $15.19 | $13.41 |
Outstanding, end of year, Weighted Average Exercise Price | $16.22 | $15.31 | $13.99 |
Options exercisable, end of year, Weighted Average Exercise Price | $15.59 | $13.10 | $12.71 |
StockBased_Compensation_Stock_
Stock-Based Compensation - Stock Options Outstanding And Exercisable (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | ' | ' | ' |
Options Outstanding, Number of Underlying Shares | 2,136 | 3,149 | 4,808 | 5,948 |
Options Outstanding, Weighted Average Exercise Price Per Share | $16.22 | $15.31 | $13.99 | $12.66 |
Options Outstanding, Weighted Average Remaining Contractual Life (Years) | '5 years 11 months | ' | ' | ' |
Options Outstanding, Total Intrinsic Value | $151,835 | ' | ' | ' |
Options Exercisable, Number of Underlying Shares | 1,173 | 968 | 846 | ' |
Options Exercisable, Weighted Average Exercise Price Per Share | $15.59 | $13.10 | $12.71 | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (Years) | '5 years 7 months | ' | ' | ' |
Options Exercisable, Total Intrinsic Value | $84,140 | ' | ' | ' |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary Of Restricted Stock And Restricted Stock Units (Details) (Restricted Stock And Restricted Stock Units [Member], USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restricted Stock And Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Outstanding, beginning of year, Number of Restricted Shares | 2,257 | 1,646 | 824 |
Performance-based restricted stock units awarded | 841 | 1,329 | 1,576 |
Forfeited, Number of Restricted Shares | -205 | -379 | -454 |
Vested, Number of Restricted Shares | -271 | -339 | -300 |
Outstanding, end of year, Number of Restricted Shares | 2,622 | 2,257 | 1,646 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Outstanding, beginning of year, Weighted Average Value | $39.02 | $29.11 | $18.02 |
Granted, Weighted Average Fair Value (per share) | $52.70 | $45.84 | $33.10 |
Forfeited, Weighted Average Value | $34.74 | $33.45 | $29.76 |
Vested, Weighted Average Value | $33.51 | $23.31 | $18.59 |
Outstanding, end of year, Weighted Average Value | $44.38 | $39.02 | $29.11 |
StockBased_Compensation_Narrat
Stock-Based Compensation - Narrative (Details) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Two Thousand Five Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Director Compensation Plan [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Warrant [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | Certain Executives and Key Employees [Member] | |||||
Performance Based Stock Options [Member] | Performance Based Stock Options [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units Granted In 2011 [Member] | Performance Based Restricted Stock Units Granted In 2012 [Member] | Performance-Based Restricted Stock Units Granted in 2013 [Member] | ||||||||||||||
Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | Two Thousand Five Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | 9,700,000 | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation | $43,184,000 | $19,845,000 | $18,063,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '1 year 2 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Purchase Program Discount Rate From Fair Market Value | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | ' | ' | ' | ' | ' | 54,200 | 56,900 | 59,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non Employee Directors Fair Value Of Stock Awards | ' | ' | ' | ' | 75,000 | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non Employee Directors Stock Awards Percentage Of Each Award Vested Following Grant Date | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25.82 | $0 | $19.28 | ' | $5.83 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,100,000 | 44,500,000 | 27,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted, at fair market value, Number of Stock Options | 10,000 | 0 | 220,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options Outstanding, Weighted Average Exercise Price Per Share | $16.22 | $15.31 | $13.99 | $12.66 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.38 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Performance Awards Vested Upon Achievement Of Performance Goal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | 33.30% |
Percentage of Performance Awards Vested One Year Following Achievement Of Performance Goal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | 33.30% |
Allocated Share-based Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | 3,900,000 | ' | ' | ' | 30,800,000 | 4,100,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | 1,000,000 | 800,000 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $42.81 | ' | ' | ' | ' | ' |
Percentage of Performance Awards Vested Two Years Following Achievement Of Performance Goal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.40% |
Allocated Share-based Compensation Expense, Cumulative Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,300,000 | 9,000,000 | 2,400,000 | ' | ' | ' | ' | ' | ' |
Additional Stock Based Compensation That Would Have Been Recorded If Operating Income Targets Had Been Deemed Probable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,600,000 | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 960,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
fair Value Of Warrants Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Of Warrants Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other_Employee_Benefits_Detail
Other Employee Benefits (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation Related Costs [Abstract] | ' | ' | ' |
401(k) contribution matching expense | $2.70 | $2.30 | $1.80 |
Deferred compensation plan obligations included in other long term liabilities | 3.3 | 2.8 | 3.5 |
Cash-surrender value of trust owned life insurance policies | $4.60 | $4.30 | $3.90 |
Recovered_Sheet1
Risk Management And Derivatives (Narrative) (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative [Line Items] | ' | ' |
Maturity of foreign currency forward contract | '1 month | ' |
Secured Debt [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Secured Debt | $48,000,000 | $50,000,000 |
Foreign Exchange Forward [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Foreign Currency Contract, Asset, Fair Value Disclosure | 12,100 | 4,800 |
Interest Rate Swap [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Interest Rate Derivative Assets, at Fair Value | 1,100,000 | ' |
Notional Amount of Interest Rate Derivatives | 25,000,000 | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 317,600 | 21,100 |
Interest Rate Derivative Liabilities, at Fair Value | ' | 100,000 |
Foreign Currency Forward Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount of Interest Rate Derivatives | $20,600,000 | ' |
Recovered_Sheet2
Risk Management And Derivatives (Changes In Foreign Currency Exchange Rates And Derivative Foreign Currency Forward Contracts) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Foreign Currency Exchange Gain Loss [Line Items] | ' | ' | ' |
Unrealized foreign currency exchange rate gains (losses) | ($1,905) | $2,464 | ($4,027) |
Foreign Currency Exchange Rates [Member] | ' | ' | ' |
Foreign Currency Exchange Gain Loss [Line Items] | ' | ' | ' |
Unrealized foreign currency exchange rate gains (losses) | -1,905 | 2,464 | -4,027 |
Realized foreign currency exchange rate gains (losses) | 477 | -182 | 298 |
Foreign Currency Forward Contracts [Member] | ' | ' | ' |
Foreign Currency Exchange Gain Loss [Line Items] | ' | ' | ' |
Unrealized derivative gains (losses) | 13 | 675 | -31 |
Realized derivative gains (losses) | ($243) | $3,030 | ($1,696) |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Related Party - Software License Agreement [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Fees paid | $3,700,000 | $1,900,000 | $1,800,000 |
Amount payable to related party | 0 | 0 | ' |
Related Party - Operating Lease Agreement [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Fees paid | 1,000,000 | 800,000 | 700,000 |
Amount payable to related party | $0 | $0 | ' |
Recovered_Sheet3
Segment Data And Related Information (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting [Abstract] | ' | ' | ' |
Total net revenues in the United States | $2,082.50 | $1,650.40 | $1,325.80 |
Recovered_Sheet4
Segment Data And Related Information (Geographic Distribution Of The Company's Net Revenues And Operating Income) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net revenues | $682,756 | $723,146 | $454,541 | $471,608 | $505,863 | $575,196 | $369,473 | $384,389 | $2,332,051 | $1,834,921 | $1,472,684 |
Total operating income | 98,467 | 120,829 | 32,310 | 13,492 | 81,592 | 90,980 | 11,720 | 24,403 | 265,098 | 208,695 | 162,767 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -2,933 | -5,183 | -3,841 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -1,172 | -73 | -2,064 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 260,993 | 203,439 | 156,862 |
Total assets | 1,577,741 | ' | ' | ' | 1,157,083 | ' | ' | ' | 1,577,741 | 1,157,083 | ' |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,193,739 | 1,726,733 | 1,383,346 |
Total operating income | ' | ' | ' | ' | ' | ' | ' | ' | 271,338 | 200,084 | 150,559 |
Other Foreign Countries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 138,312 | 108,188 | 89,338 |
Total operating income | ' | ' | ' | ' | ' | ' | ' | ' | ($6,240) | $8,611 | $12,208 |
Segment_Data_And_Related_Infor2
Segment Data And Related Information (Net Revenues By Product Category) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net sales | ' | ' | ' | ' | ' | ' | ' | ' | $2,277,073 | $1,790,140 | $1,436,115 |
License revenues | ' | ' | ' | ' | ' | ' | ' | ' | 54,978 | 44,781 | 36,569 |
Total net revenues | 682,756 | 723,146 | 454,541 | 471,608 | 505,863 | 575,196 | 369,473 | 384,389 | 2,332,051 | 1,834,921 | 1,472,684 |
Apparel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,762,150 | 1,385,350 | 1,122,031 |
Footwear [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net sales | ' | ' | ' | ' | ' | ' | ' | ' | 298,825 | 238,955 | 181,684 |
Accessories [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net sales | ' | ' | ' | ' | ' | ' | ' | ' | $216,098 | $165,835 | $132,400 |
Unaudited_Quarterly_Financial_2
Unaudited Quarterly Financial Data (Selected Quarterly Financial Data) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $682,756 | $723,146 | $454,541 | $471,608 | $505,863 | $575,196 | $369,473 | $384,389 | $2,332,051 | $1,834,921 | $1,472,684 |
Gross profit | 350,353 | 350,135 | 219,631 | 216,551 | 254,235 | 280,391 | 169,467 | 175,204 | 1,136,670 | 879,297 | 712,836 |
Income from operations | 98,467 | 120,829 | 32,310 | 13,492 | 81,592 | 90,980 | 11,720 | 24,403 | 265,098 | 208,695 | 162,767 |
Net income | $64,166 | $72,784 | $17,566 | $7,814 | $50,132 | $57,317 | $6,668 | $14,661 | $162,330 | $128,778 | $96,919 |
Earnings per share - basic | $0.61 | $0.69 | $0.17 | $0.07 | $0.48 | $0.55 | $0.06 | $0.14 | $1.54 | $1.23 | $0.94 |
Earnings per share - diluted | $0.59 | $0.68 | $0.16 | $0.07 | $0.47 | $0.54 | $0.06 | $0.14 | $1.50 | $1.21 | $0.92 |
Subsequent_Events_Details
Subsequent Events (Details) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 28, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 28, 2014 |
Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Class A Common Stock And Class B Convertible Common Stock | Class A Common Stock And Class B Convertible Common Stock | |
Stock Vesting On February 15, 2016 [Member] | Stock Vesting On February 15, 2017 [Member] | Stock Vesting On February 15, 2018 [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||
Stock Vesting On February 15, 2016 [Member] | Stock Vesting On February 15, 2017 [Member] | Stock Vesting On February 15, 2018 [Member] | |||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class B Convertible Common Stock converted to Class A Common Stock (shares) | ' | ' | ' | ' | ' | ' | ' | ' | 300 |
Class B Convertible Common Stock converted to Class A Common Stock, ratio | ' | ' | ' | ' | ' | ' | ' | 'one-for-one | 'one-for-one |
Performance-based restricted stock units awarded | ' | ' | ' | 400 | ' | ' | ' | ' | ' |
Restricted stock units vesting date | ' | ' | ' | ' | 'FebruaryB 2016 | 'February 2017 | 'FebruaryB 2018 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Annual Vesting Percentage | 33.33% | 33.33% | 33.33% | ' | ' | ' | ' | ' | ' |
Valuation_And_Qualifying_Accou1
Valuation And Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance For Doubtful Accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Year | $3,286 | $4,070 | $4,869 |
Charged to Costs and Expenses | 210 | -108 | 699 |
Write-Offs Net of Recoveries | -558 | -676 | -1,498 |
Balance at End of Year | 2,938 | 3,286 | 4,070 |
Sales Returns And Allowances [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 32,919 | 20,600 | 16,827 |
Charged to Costs and Expenses | 135,739 | 107,536 | 74,245 |
Write-Offs Net of Recoveries | -134,556 | -95,217 | -70,472 |
Balance at End of Year | 34,102 | 32,919 | 20,600 |
Deferred Tax Asset Valuation Allowance [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 3,996 | 1,784 | 1,765 |
Charged to Costs and Expenses | 4,095 | 2,855 | 1,784 |
Write-Offs Net of Recoveries | 0 | -643 | -1,765 |
Balance at End of Year | $8,091 | $3,996 | $1,784 |