Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 07, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Entity Registrant Name | 'INTER PARFUMS INC | ' |
Entity Central Index Key | '0000822663 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 30,942,868 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $50,185 | $125,650 |
Short-term investments | 196,619 | 181,677 |
Accounts receivable, net | 122,217 | 79,932 |
Inventories | 112,863 | 117,347 |
Receivables, other | 1,663 | 2,418 |
Other current assets | 6,194 | 4,775 |
Income tax receivable | 437 | 6,435 |
Deferred tax assets | 7,375 | 7,257 |
Total current assets | 497,553 | 525,491 |
Equipment and leasehold improvements, net | 9,624 | 10,444 |
Trademarks, licenses and other intangible assets, net | 103,148 | 116,243 |
Other assets | 10,106 | 11,880 |
Total assets | 620,431 | 664,058 |
Current liabilities: | ' | ' |
Loans payable - banks | 239 | 6,104 |
Accounts payable, trade | 51,020 | 56,736 |
Accrued expenses | 42,269 | 58,333 |
Income taxes payable | 7,889 | 1,270 |
Dividends payable | 3,713 | 3,704 |
Total current liabilities | 105,130 | 126,147 |
Deferred tax liability | 2,319 | 2,555 |
Inter Parfums, Inc. shareholders' equity: | ' | ' |
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued | ' | ' |
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 30,942,868 and 30,863,421 shares at September 30, 2014 and December 31, 2013, respectively | 31 | 31 |
Additional paid-in capital | 59,123 | 57,877 |
Retained earnings | 374,516 | 359,459 |
Accumulated other comprehensive income (loss) | -4,464 | 25,860 |
Treasury stock, at cost, 9,924,500 and 9,940,977 common shares at September 30, 2014 and December 31, 2013, respectively | -36,266 | -36,016 |
Total Inter Parfums, Inc. shareholders' equity | 392,940 | 407,211 |
Noncontrolling interest | 120,042 | 128,145 |
Total equity | 512,982 | 535,356 |
Total liabilities and equity | $620,431 | $664,058 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
CONSOLIDATED BALANCE SHEETS [Abstract] | ' | ' |
Preferred stock, par | $0.00 | $0.00 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares outstanding | 30,942,868 | 30,863,421 |
Treasury shares, shares | 9,924,500 | 9,940,977 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
CONSOLIDATED STATEMENTS OF INCOME [Abstract] | ' | ' | ' | ' |
Net sales | $134,206 | $126,753 | $374,129 | $458,048 |
Cost of sales | 58,878 | 56,746 | 161,455 | 189,791 |
Gross margin | 75,328 | 70,007 | 212,674 | 268,257 |
Selling, general and administrative expenses | 56,647 | 55,360 | 163,720 | 178,735 |
Income from operations | 18,681 | 14,647 | 48,954 | 89,522 |
Other expenses (income): | ' | ' | ' | ' |
Interest expense | 554 | 354 | 1,402 | 1,228 |
(Gain) loss on foreign currency | -1,129 | 176 | -1,057 | 1,158 |
Interest income | -915 | -1,218 | -2,974 | -3,472 |
Other expenses (income), total | -1,490 | -688 | -2,629 | -1,086 |
Income before income taxes | 20,171 | 15,335 | 51,583 | 90,608 |
Income taxes | 6,407 | 5,432 | 18,003 | 33,242 |
Net income | 13,764 | 9,903 | 33,580 | 57,366 |
Less: Net income attributable to the noncontrolling interest | 2,651 | 2,049 | 7,465 | 14,001 |
Net income attributable to Inter Parfums, Inc. | $11,113 | $7,854 | $26,115 | $43,365 |
Net income attributable to Inter Parfums, Inc. common shareholders: | ' | ' | ' | ' |
Basic | $0.36 | $0.26 | $0.84 | $1.41 |
Diluted | $0.36 | $0.25 | $0.84 | $1.40 |
Weighted average number of shares outstanding: | ' | ' | ' | ' |
Basic | 30,941 | 30,796 | 30,927 | 30,743 |
Diluted | 31,054 | 30,986 | 31,060 | 30,928 |
Dividends declared per share | $0.12 | $0.12 | $0.36 | $0.36 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Comprehensive income (loss): | ' | ' | ' | ' |
Net income | $13,764 | $9,903 | $33,580 | $57,366 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Reclassification from OCI into earnings, net | ' | ' | ' | -327 |
Translation adjustments, net of tax | -37,990 | 15,012 | -42,620 | 10,033 |
Comprehensive income (loss) | -24,226 | 24,915 | -9,040 | 67,072 |
Comprehensive income (loss) attributable to the noncontrolling interests: | ' | ' | ' | ' |
Net income | 2,651 | 2,049 | 7,465 | 14,001 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Reclassification from OCI into earnings, net | ' | ' | ' | 87 |
Translation adjustments, net of tax | -10,786 | 4,042 | -12,296 | 2,944 |
Comprehensive income (loss) attributable to the noncontrolling interests | -8,135 | 6,091 | -4,831 | 16,858 |
Comprehensive income (loss) attributable to Inter Parfums, Inc. | ($16,091) | $18,824 | ($4,209) | $50,214 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $) | Total | Common stock [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Accumulated other comprehensive income [Member] | Treasury stock [Member] | Noncontrolling interest [Member] |
In Thousands | |||||||
Beginning Balance at Dec. 31, 2012 | ' | $31 | $54,679 | $349,672 | $12,498 | ($35,404) | $118,505 |
Net income | 57,366 | ' | ' | 43,365 | ' | ' | 14,001 |
Shares issued upon exercise of stock options | ' | ' | 1,319 | ' | ' | ' | ' |
Shares received as proceeds of option exercises | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | 10,033 | ' | ' | ' | 7,089 | ' | 2,944 |
Net derivative instrument loss, net of tax | ' | ' | ' | ' | -240 | ' | -87 |
Sale of subsidiary shares to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' |
Dividends | ' | ' | ' | -11,074 | ' | ' | -8,341 |
Stock-based compensation | ' | ' | 367 | 124 | ' | ' | 45 |
Ending Balance at Sep. 30, 2013 | 549,493 | ' | 56,365 | 382,087 | 19,347 | -35,404 | 127,067 |
Beginning Balance at Dec. 31, 2013 | 535,356 | 31 | 57,877 | 359,459 | 25,860 | -36,016 | 128,145 |
Net income | 33,580 | ' | ' | 26,115 | ' | ' | 7,465 |
Shares issued upon exercise of stock options | ' | ' | 1,074 | ' | ' | 101 | ' |
Shares received as proceeds of option exercises | ' | ' | ' | ' | ' | -351 | ' |
Foreign currency translation adjustment | -42,620 | ' | ' | ' | -30,324 | ' | -12,296 |
Net derivative instrument loss, net of tax | ' | ' | ' | ' | ' | ' | ' |
Sale of subsidiary shares to noncontrolling interests | ' | ' | -335 | ' | ' | ' | 1,365 |
Dividends | ' | ' | ' | -11,137 | ' | ' | -4,667 |
Stock-based compensation | ' | ' | 507 | 79 | ' | ' | 30 |
Ending Balance at Sep. 30, 2014 | $512,982 | ' | $59,123 | $374,516 | ($4,464) | ($36,266) | $120,042 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $33,580 | $57,366 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 7,723 | 8,451 |
Provision for doubtful accounts | 456 | 409 |
Noncash stock compensation | 689 | 631 |
Deferred tax (benefit) expense | -799 | 4,542 |
Changes in: | ' | ' |
Accounts receivable | -51,455 | 34,589 |
Inventories | -3,566 | 33,945 |
Other assets | -411 | 1,222 |
Accounts payable and accrued expenses | -12,347 | -44,649 |
Income taxes, net | 12,931 | -74,974 |
Net cash provided by (used in) operating activities | -13,199 | 21,532 |
Cash flows from investing activities: | ' | ' |
Purchases of short-term investments | -248,193 | -253,969 |
Proceeds from sale of short-term investments | 214,975 | 106,904 |
Purchases of equipment and leasehold improvements | -2,584 | -3,726 |
Proceeds from sale of equipment | ' | 2,801 |
Payment for intangible assets acquired | -821 | -2,145 |
Net cash used in investing activities | -36,623 | -150,135 |
Cash flows from financing activities: | ' | ' |
Repayments of loans payable - banks, net | -5,841 | -27,526 |
Proceeds from exercise of options | 861 | 1,319 |
Proceeds from sale of stock of subsidiary | 1,030 | ' |
Dividends paid | -11,128 | -9,831 |
Dividends paid to noncontrolling interest | -4,667 | -8,341 |
Purchase of treasury stock | -37 | ' |
Net cash used in financing activities | -19,782 | -44,379 |
Effect of exchange rate changes on cash | -5,861 | 2,800 |
Net decrease in cash and cash equivalents | -75,465 | -170,182 |
Cash and cash equivalents - beginning of period | 125,650 | 307,335 |
Cash and cash equivalents - end of period | 50,185 | 137,153 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest | 1,028 | 1,322 |
Income taxes | $6,396 | $103,737 |
Significant_Accounting_Policie
Significant Accounting Policies | 9 Months Ended | ||
Sep. 30, 2014 | |||
Significant Accounting Policies [Abstract] | ' | ||
Significant Accounting Policies | ' | ||
1 | Significant Accounting Policies: | ||
The accounting policies we follow are set forth in the notes to our financial statements included in our Form 10-K which was filed with the Securities and Exchange Commission for the year ended December 31, 2013. We also discuss such policies in Part I, Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations, included in this Form 10-Q. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended | ||
Sep. 30, 2014 | |||
Recent Accounting Pronouncements [Abstract] | ' | ||
Recent Accounting Pronouncements | ' | ||
2 | Recent Accounting Pronouncements: | ||
In May 2014, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update which supersedes the most current revenue recognition requirements. The new revenue recognition standard requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers in an amount that reflects the consideration which the entity expects to be entitled to in exchange for those goods or services. This guidance is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption not permitted. We are currently evaluating the standard to determine the impact of its adoption on our consolidated financial statements. | |||
There are no other recent accounting pronouncements issued but not yet adopted that would have a material effect on our consolidated financial statements. |
Termination_of_Burberry_Licens
Termination of Burberry License | 9 Months Ended | |
Sep. 30, 2014 | ||
Termination of Burberry License [Abstract] | ' | |
Termination of Burberry License | ' | |
3 | Termination of Burberry License: | |
Burberry exercised its option to buy-out the license rights effective December 31, 2012. In October 2012, the Company and Burberry entered into a transition agreement that provided for certain license rights and obligations to continue through March 31, 2013. The Company continued to operate certain aspects of the business for the brand including product development, testing, and distribution. The transition agreement provided for non-exclusivity for manufacturing, a cap on sales of Burberry products, a reduced advertising requirement and no minimum royalty amounts. |
Inventories
Inventories | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Inventories [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
4 | Inventories: | ||||||||
Inventories consist of the following: | |||||||||
(In thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Raw materials and component parts | $ | 36,162 | $ | 47,800 | |||||
Finished goods | 76,701 | 69,547 | |||||||
$ | 112,863 | $ | 117,347 |
Fair_Value_Measurement
Fair Value Measurement | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Measurement [Abstract] | ' | ||||||||||||||||
Fair Value Measurement | ' | ||||||||||||||||
5 | Fair Value Measurement: | ||||||||||||||||
The following tables present our financial assets that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. | |||||||||||||||||
(In thousands) | Fair Value Measurements at September 30, 2014 | ||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets: | |||||||||||||||||
Short-term investments | $ | 196,619 | $ | — | $ | 196,619 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Foreign currency forward exchange contracts not accounted for using hedge accounting | 703 | — | 703 | — | |||||||||||||
(In thousands) | Fair Value Measurements at December 31, 2013 | ||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets: | |||||||||||||||||
Short-term investments | $ | 181,677 | $ | — | $ | 181,677 | $ | — | |||||||||
Foreign currency forward exchange contracts not accounted for using hedge accounting | 157 | — | 157 | — | |||||||||||||
$ | 181,834 | $ | — | $ | 181,834 | $ | — | ||||||||||
The carrying amount of cash and cash equivalents including money market funds, short-term investments, accounts receivable, other receivables, accounts payable and accrued expenses approximates fair value due to the short terms to maturity of these instruments. The carrying amount of loans payable approximates fair value as the interest rates on the Company's indebtedness approximate current market rates. | |||||||||||||||||
Foreign currency forward exchange contracts are valued based on quotations from financial institutions. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended | |
Sep. 30, 2014 | ||
Derivative Financial Instruments [Abstract] | ' | |
Derivative Financial Instruments | ' | |
6 | Derivative Financial Instruments: | |
The Company enters into foreign currency forward exchange contracts to hedge exposure related to receivables denominated in a foreign currency and occasionally to manage risks related to future sales expected to be denominated in a foreign currency. The Company had no cash flow hedges during the three and nine months ended September 30, 2014 and 2013. Gains and losses in derivatives not designated as hedges are included in (gain) loss on foreign currency on the accompanying income statement and were immaterial for the three and nine months ended September 30, 2014 and 2013. | ||
All derivative instruments are reported as either assets or liabilities on the balance sheet measured at fair value. The valuation of foreign currency forward exchange contracts not accounted for using hedge accounting as of September 30, 2014 resulted in a liability and is included in accrued expenses and, as of December 31, 2013, resulted in an asset and is included in other current assets on the accompanying balance sheets. Generally, increases or decreases in the fair value of derivative instruments will be recognized as gains or losses in earnings in the period of change. If the derivative instrument is designated and qualifies as a cash flow hedge, the changes in fair value of the derivative instrument will be recorded as a separate component of shareholders' equity. | ||
At September 30, 2014, we had foreign currency contracts in the form of forward exchange contracts in the amount of approximately U.S. $12.0 million, GB pounds £3.3 million and JPY ¥116.0 million which all have maturities of less than one year. |
Accrued_Expenses
Accrued Expenses | 9 Months Ended | |
Sep. 30, 2014 | ||
Accrued Expenses [Abstract] | ' | |
Accrued Expenses | ' | |
7 | Accrued Expenses: | |
Accrued expenses include approximately $13.1 million and $22.4 million in advertising liabilities as of September 30, 2014 and December 31, 2013, respectively. |
ShareBased_Payments
Share-Based Payments | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Share-Based Payments [Abstract] | ' | ||||||||
Share-Based Payments | ' | ||||||||
8 | Share-Based Payments: | ||||||||
The Company maintains a stock option program for key employees, executives and directors. The plans, all of which have been approved by shareholder vote, provide for the granting of both nonqualified and incentive options. Options granted under the plans typically have a six-year term and vest over a four to five-year period. The fair value of shares vested during the nine months ended September 30, 2014 and 2013 aggregated $0.03 million and $0.04 million, respectively. Compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. It is generally our policy to issue new shares upon exercise of stock options. | |||||||||
The following table sets forth information with respect to nonvested options for the nine month period ended September 30, 2014: | |||||||||
Weighted Average | |||||||||
Number of Shares | Grant Date Fair Value | ||||||||
Nonvested options – beginning of period | 367,470 | $ | 6.68 | ||||||
Nonvested options granted | 5,500 | $ | 8.47 | ||||||
Nonvested options vested or forfeited | (10,635 | ) | $ | 5.74 | |||||
Nonvested options – end of period | 362,335 | $ | 6.73 | ||||||
Share-based payment expense decreased income before income taxes by $0.23 million and $0.69 million for the three and nine month periods ended September 30, 2014, respectively, as compared to $0.21 million and $0.63 million for the corresponding periods of the prior year. Share-based payment expense decreased income attributable to Inter Parfums, Inc. by $0.13 million and $0.38 million for the three and nine month periods ended September 30, 2014, respectively, as compared to $0.12 million and $0.34 million for the corresponding periods of the prior year. | |||||||||
The following table summarizes stock option information as of September 30, 2014: | |||||||||
Weighted Average | |||||||||
Shares | Exercise Price | ||||||||
Outstanding at January 1, 2014 | 643,595 | $ | 19.58 | ||||||
Options granted | 5,500 | 31.12 | |||||||
Options cancelled | (5,210 | ) | 19.31 | ||||||
Options exercised | (90,720 | ) | 12.95 | ||||||
Outstanding at September 30, 2014 | 553,165 | $ | 20.78 | ||||||
Options exercisable | 190,830 | $ | 14.3 | ||||||
Options available for future grants | 460,785 | ||||||||
As of September 30, 2014, the weighted average remaining contractual life of options outstanding is 3.31 years (1.97 years for options exercisable), the aggregate intrinsic value of options outstanding and options exercisable is $4.8 million and $2.5 million, respectively, and unrecognized compensation cost related to stock options outstanding of Inter Parfums, Inc. aggregated $1.8 million. | |||||||||
Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2014 and September 30, 2013 were as follows: | |||||||||
(In thousands) | September 30, | September 30, | |||||||
2014 | 2013 | ||||||||
Cash proceeds from stock options exercised | $ | 861 | $ | 1,319 | |||||
Tax benefits | — | 317 | |||||||
Intrinsic value of stock options exercised | 1,631 | 1,963 | |||||||
The weighted average fair values of the options granted by Inter Parfums, Inc. during the nine months ended September 30, 2014 and 2013 were $8.47 and $6.17 per share, respectively, on the date of grant using the Black-Scholes option pricing model to calculate the fair value of options granted. The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2014 and 2013 are set forth in the following table: | |||||||||
September 30, | September 30, | ||||||||
2014 | 2013 | ||||||||
Weighted-average expected stock-price volatility | 37 | % | 38 | % | |||||
Weighted-average expected option life | 5 years | 5 years | |||||||
Weighted-average risk-free interest rate | 1.6 | % | 0.89 | % | |||||
Weighted-average dividend yield | 2.4 | % | 2 | % | |||||
Expected volatility is estimated based on historic volatility of the Company's common stock. The expected term of the option is estimated based on historic data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant of the option and the dividend yield reflects the assumption that the dividend payout as authorized by the Board of Directors would increase as the earnings of the Company and its stock price continue to increase. |
Net_Income_Attributable_to_Int
Net Income Attributable to Inter Parfums Inc Common Shareholders | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Net Income Attributable to Inter Parfums, Inc. Common Shareholders [Abstract] | ' | ||||||||||||||||||||||||
Net Income Attributable to Inter Parfums, Inc. Common Shareholders | ' | ||||||||||||||||||||||||
9 | Net Income Attributable to Inter Parfums, Inc. Common Shareholders: | ||||||||||||||||||||||||
Net income attributable to Inter Parfums, Inc. per common share (“basic EPS”) is computed by dividing net earnings attributable to Inter Parfums, Inc. by the weighted-average number of shares outstanding. Net earnings attributable to Inter Parfums, Inc. per share assuming dilution (“diluted EPS”), is computed using the weighted average number of shares outstanding, plus the incremental shares outstanding assuming the exercise of dilutive stock options using the treasury stock method. | |||||||||||||||||||||||||
The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows: | |||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
(In thousands) | September 30, | September 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Numerator : | |||||||||||||||||||||||||
Net income attributable to Inter Parfums, Inc. | $ | 11,113 | $ | 7,854 | $ | 26,115 | $ | 43,365 | |||||||||||||||||
Effect of dilutive securities of consolidated subsidiary | — | — | — | (176 | ) | ||||||||||||||||||||
Numerator for dilutedearnings per share | $ | 11,113 | $ | 7,854 | $ | 26,115 | $ | 43,189 | |||||||||||||||||
Denominator: | |||||||||||||||||||||||||
Weighted average shares | 30,941 | 30,796 | 30,927 | 30,743 | |||||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||||||||
Stock options | 113 | 190 | 133 | 185 | |||||||||||||||||||||
Denominator for diluted earnings per share | 31,054 | 30,986 | 31,060 | 30,928 | |||||||||||||||||||||
Earning per share: | |||||||||||||||||||||||||
Net income attributable to Inter Parfums, Inc. common shareholders: | |||||||||||||||||||||||||
Basic | $ | 0.36 | $ | 0.26 | $ | 0.84 | $ | 1.41 | |||||||||||||||||
Diluted | 0.36 | 0.25 | 0.84 | 1.4 | |||||||||||||||||||||
Not included in the above computations is the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.13 million shares and 0.04 million shares of common stock for the nine months ended September 30, 2014 and 2013, respectively, and 0.13 million shares of common stock for the three months ended September 30, 2014. |
Net_Income_Attributable_to_Int1
Net Income Attributable to Inter Parfums Inc and Transfers From the Noncontrolling Interest | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interst [Abstract] | ' | ||||||||||||||||||||||||
Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest | ' | ||||||||||||||||||||||||
10 | Net Income Attributable to Inter Parfums, Inc. and Transfers From the Noncontrolling Interest: | ||||||||||||||||||||||||
(In thousands) | Three months ended | Nine months ended | |||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Net income attributable to Inter Parfums, Inc. | $ | 11,113 | $ | 7,854 | $ | 26,115 | $ | 43,365 | |||||||||||||||||
Decrease in Inter Parfums, Inc.'s additional paid-in capital for subsidiary share transactions | 16 | — | 335 | — | |||||||||||||||||||||
Change from net income attributable to Inter Parfums, Inc. and transfers from noncontrolling interest | $ | 11,097 | $ | 7,854 | $ | 25,780 | $ | 43,365 |
Segment_and_Geographic_Areas
Segment and Geographic Areas | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Segment and Geographic Areas [Abstract] | ' | ||||||||||||||||||||||||
Segment and Geographic Areas | ' | ||||||||||||||||||||||||
11 | Segment and Geographic Areas: | ||||||||||||||||||||||||
The Company manufactures and distributes one product line, fragrances and fragrance related products. The Company manages its business in two segments, European based operations and United States based operations. The European assets are located, and operations are primarily conducted, in France. European operations primarily represent the sale of prestige brand name fragrances and United States operations primarily represent the sale of prestige brand and specialty retail fragrance and fragrance related products. Information on our operations by geographical areas is as follows: | |||||||||||||||||||||||||
(In thousands) | Three months ended | Nine months ended | |||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Net sales: | |||||||||||||||||||||||||
United States | $ | 30,784 | $ | 28,686 | $ | 73,718 | $ | 72,040 | |||||||||||||||||
Europe | 103,457 | 98,136 | 300,506 | 386,116 | |||||||||||||||||||||
Eliminations | (35 | ) | (69 | ) | (95 | ) | (108 | ) | |||||||||||||||||
$ | 134,206 | $ | 126,753 | $ | 374,129 | $ | 458,048 | ||||||||||||||||||
Net income attributable to Inter Parfums, Inc.: | |||||||||||||||||||||||||
United States | $ | 2,705 | $ | 2,156 | $ | 4,042 | $ | 4,359 | |||||||||||||||||
Europe | 8,480 | 5,698 | 22,073 | 38,993 | |||||||||||||||||||||
Eliminations of intercompany profits | — | — | — | 13 | |||||||||||||||||||||
$ | 11,113 | $ | 7,854 | $ | 26,115 | $ | 43,365 | ||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Total Assets: | |||||||||||||||||||||||||
United States | $ | 80,887 | $ | 76,980 | |||||||||||||||||||||
Europe | 548,638 | 596,153 | |||||||||||||||||||||||
Eliminations of investment in subsidiary | (9,094 | ) | (9,075 | ) | |||||||||||||||||||||
$ | 620,431 | $ | 664,058 | ||||||||||||||||||||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Inventories [Abstract] | ' | ||||||||
Schedule of Inventories | ' | ||||||||
(In thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Raw materials and component parts | $ | 36,162 | $ | 47,800 | |||||
Finished goods | 76,701 | 69,547 | |||||||
$ | 112,863 | $ | 117,347 |
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Measurement [Abstract] | ' | ||||||||||||||||
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
(In thousands) | Fair Value Measurements at September 30, 2014 | ||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets: | |||||||||||||||||
Short-term investments | $ | 196,619 | $ | — | $ | 196,619 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Foreign currency forward exchange contracts not accounted for using hedge accounting | 703 | — | 703 | — | |||||||||||||
(In thousands) | Fair Value Measurements at December 31, 2013 | ||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets: | |||||||||||||||||
Short-term investments | $ | 181,677 | $ | — | $ | 181,677 | $ | — | |||||||||
Foreign currency forward exchange contracts not accounted for using hedge accounting | 157 | — | 157 | — | |||||||||||||
$ | 181,834 | $ | — | $ | 181,834 | $ | — | ||||||||||
ShareBased_Payments_Tables
Share-Based Payments (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Share-Based Payments [Abstract] | ' | ||||||||
Schedule of Nonvested Option Activity | ' | ||||||||
Weighted Average | |||||||||
Number of Shares | Grant Date Fair Value | ||||||||
Nonvested options – beginning of period | 367,470 | $ | 6.68 | ||||||
Nonvested options granted | 5,500 | $ | 8.47 | ||||||
Nonvested options vested or forfeited | (10,635 | ) | $ | 5.74 | |||||
Nonvested options – end of period | 362,335 | $ | 6.73 | ||||||
Schedule of Stock Option Activity | ' | ||||||||
Weighted Average | |||||||||
Shares | Exercise Price | ||||||||
Outstanding at January 1, 2014 | 643,595 | $ | 19.58 | ||||||
Options granted | 5,500 | 31.12 | |||||||
Options cancelled | (5,210 | ) | 19.31 | ||||||
Options exercised | (90,720 | ) | 12.95 | ||||||
Outstanding at September 30, 2014 | 553,165 | $ | 20.78 | ||||||
Options exercisable | 190,830 | $ | 14.3 | ||||||
Options available for future grants | 460,785 | ||||||||
Summary of Options Exercised | ' | ||||||||
(In thousands) | September 30, | September 30, | |||||||
2014 | 2013 | ||||||||
Cash proceeds from stock options exercised | $ | 861 | $ | 1,319 | |||||
Tax benefits | — | 317 | |||||||
Intrinsic value of stock options exercised | 1,631 | 1,963 | |||||||
Schedule of Assumptions Used to Estimate Fair Value of Stock Options | ' | ||||||||
September 30, | September 30, | ||||||||
2014 | 2013 | ||||||||
Weighted-average expected stock-price volatility | 37 | % | 38 | % | |||||
Weighted-average expected option life | 5 years | 5 years | |||||||
Weighted-average risk-free interest rate | 1.6 | % | 0.89 | % | |||||
Weighted-average dividend yield | 2.4 | % | 2 | % |
Net_Income_Attributable_to_Int2
Net Income Attributable to Inter Parfums Inc Common Shareholders (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Net Income Attributable to Inter Parfums, Inc. Common Shareholders [Abstract] | ' | ||||||||||||||||||||||||
Computation of Basic and Diluted Earnings Per Share | ' | ||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
(In thousands) | September 30, | September 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Numerator : | |||||||||||||||||||||||||
Net income attributable to Inter Parfums, Inc. | $ | 11,113 | $ | 7,854 | $ | 26,115 | $ | 43,365 | |||||||||||||||||
Effect of dilutive securities of consolidated subsidiary | — | — | — | (176 | ) | ||||||||||||||||||||
Numerator for dilutedearnings per share | $ | 11,113 | $ | 7,854 | $ | 26,115 | $ | 43,189 | |||||||||||||||||
Denominator: | |||||||||||||||||||||||||
Weighted average shares | 30,941 | 30,796 | 30,927 | 30,743 | |||||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||||||||
Stock options | 113 | 190 | 133 | 185 | |||||||||||||||||||||
Denominator for diluted earnings per share | 31,054 | 30,986 | 31,060 | 30,928 | |||||||||||||||||||||
Earning per share: | |||||||||||||||||||||||||
Net income attributable to Inter Parfums, Inc. common shareholders: | |||||||||||||||||||||||||
Basic | $ | 0.36 | $ | 0.26 | $ | 0.84 | $ | 1.41 | |||||||||||||||||
Diluted | 0.36 | 0.25 | 0.84 | 1.4 |
Net_Income_Attributable_to_Int3
Net Income Attributable to Inter Parfums Inc and Transfers From the Noncontrolling Interest (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interst [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest | ' | ||||||||||||||||||||||||
(In thousands) | Three months ended | Nine months ended | |||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Net income attributable to Inter Parfums, Inc. | $ | 11,113 | $ | 7,854 | $ | 26,115 | $ | 43,365 | |||||||||||||||||
Decrease in Inter Parfums, Inc.'s additional paid-in capital for subsidiary share transactions | 16 | — | 335 | — | |||||||||||||||||||||
Change from net income attributable to Inter Parfums, Inc. and transfers from noncontrolling interest | $ | 11,097 | $ | 7,854 | $ | 25,780 | $ | 43,365 |
Segment_and_Geographic_Areas_T
Segment and Geographic Areas (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Segment and Geographic Areas [Abstract] | ' | ||||||||||||||||||||||||
Summary of Operations by Geographical Area | ' | ||||||||||||||||||||||||
(In thousands) | Three months ended | Nine months ended | |||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Net sales: | |||||||||||||||||||||||||
United States | $ | 30,784 | $ | 28,686 | $ | 73,718 | $ | 72,040 | |||||||||||||||||
Europe | 103,457 | 98,136 | 300,506 | 386,116 | |||||||||||||||||||||
Eliminations | (35 | ) | (69 | ) | (95 | ) | (108 | ) | |||||||||||||||||
$ | 134,206 | $ | 126,753 | $ | 374,129 | $ | 458,048 | ||||||||||||||||||
Net income attributable to Inter Parfums, Inc.: | |||||||||||||||||||||||||
United States | $ | 2,705 | $ | 2,156 | $ | 4,042 | $ | 4,359 | |||||||||||||||||
Europe | 8,480 | 5,698 | 22,073 | 38,993 | |||||||||||||||||||||
Eliminations of intercompany profits | — | — | — | 13 | |||||||||||||||||||||
$ | 11,113 | $ | 7,854 | $ | 26,115 | $ | 43,365 | ||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Total Assets: | |||||||||||||||||||||||||
United States | $ | 80,887 | $ | 76,980 | |||||||||||||||||||||
Europe | 548,638 | 596,153 | |||||||||||||||||||||||
Eliminations of investment in subsidiary | (9,094 | ) | (9,075 | ) | |||||||||||||||||||||
$ | 620,431 | $ | 664,058 |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Raw materials and component parts | $36,162 | $47,800 |
Finished goods | 76,701 | 69,547 |
Inventories | $112,863 | $117,347 |
Fair_Value_Measurement_Details
Fair Value Measurement (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Short-term investments | $196,619 | $181,677 |
Foreign currency forward exchange contracts not accounted for using hedge accounting | ' | 157 |
Assets | ' | 181,834 |
Liabilities: | ' | ' |
Foreign currency forward exchange contracts not accounted for using hedge accounting | 703 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Assets: | ' | ' |
Short-term investments | ' | ' |
Foreign currency forward exchange contracts not accounted for using hedge accounting | ' | ' |
Assets | ' | ' |
Liabilities: | ' | ' |
Foreign currency forward exchange contracts not accounted for using hedge accounting | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets: | ' | ' |
Short-term investments | 196,619 | 181,677 |
Foreign currency forward exchange contracts not accounted for using hedge accounting | ' | 157 |
Assets | ' | 181,834 |
Liabilities: | ' | ' |
Foreign currency forward exchange contracts not accounted for using hedge accounting | 703 | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets: | ' | ' |
Short-term investments | ' | ' |
Foreign currency forward exchange contracts not accounted for using hedge accounting | ' | ' |
Assets | ' | ' |
Liabilities: | ' | ' |
Foreign currency forward exchange contracts not accounted for using hedge accounting | ' | ' |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Details) (Foreign exchange contracts [Member]) | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
USD ($) | GBP (£) | JPY (¥) | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Notional amount | $12 | £ 3.3 | ¥ 116 |
Maximum maturity period | '1 year | '1 year | '1 year |
Accrued_Expenses_Details
Accrued Expenses (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accrued Expenses [Abstract] | ' | ' |
Accrued advertising liabilities | $13.10 | $22.40 |
ShareBased_Payments_Narrative_
Share-Based Payments (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Term of employee stock options | ' | ' | '6 years | ' |
Fair value of shares vested | ' | ' | $0.03 | $0.04 |
Decrease in income before income tax due to share-based payment expense | 0.23 | 0.21 | 0.69 | 0.63 |
Decrease in income attributable to Inter Parfums, Inc due to share-based payment expense | 0.13 | 0.12 | 0.38 | 0.34 |
Weighted average remaining contractual life of options outstanding | ' | ' | '3 years 3 months 22 days | ' |
Weighted average remaining contractual life of options exercisable | ' | ' | '1 year 11 months 19 days | ' |
Aggregate intrinsic value of options outstanding | 4.8 | ' | 4.8 | ' |
Aggregate intrinsic value of exercisable options | 2.5 | ' | 2.5 | ' |
Unrecognized compensation cost related to stock options | $1.80 | ' | $1.80 | ' |
Nonvested options granted | ' | ' | $8.47 | $6.17 |
Minimum [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Vesting period | ' | ' | '4 years | ' |
Maximum [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Vesting period | ' | ' | '5 years | ' |
ShareBased_Payments_Schedule_o
Share-Based Payments (Schedule of Nonvested Option Activity) (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Number of Shares | ' | ' |
Nonvested options - beginning of period | 367,470 | ' |
Nonvested options granted | 5,500 | ' |
Nonvested options vested or forfeited | -10,635 | ' |
Nonvested options - end of period | 362,335 | ' |
Weighted Average Grant Date Fair Value | ' | ' |
Nonvested options - beginning of period | $6.68 | ' |
Nonvested options granted | $8.47 | $6.17 |
Nonvested options vested or forfeited | $5.74 | ' |
Nonvested options - end of period | $6.73 | ' |
ShareBased_Payments_Schedule_o1
Share-Based Payments (Schedule of Stock Option Activity) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Shares | ' |
Outstanding, beginning balance | 643,595 |
Options granted | 5,500 |
Options cancelled | -5,210 |
Options exercised | -90,720 |
Outstanding, ending balance | 553,165 |
Options exercisable | 190,830 |
Options available for future grants | 460,785 |
Weighted Average Exercise Price | ' |
Outstanding, beginning balance | $19.58 |
Options granted | $31.12 |
Options cancelled | $19.31 |
Options exercised | $12.95 |
Outstanding, ending balance | $20.78 |
Options exercisable | $14.30 |
ShareBased_Payments_Summary_of
Share-Based Payments (Summary of Stock Options Exercised) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Share-Based Payments [Abstract] | ' | ' |
Cash proceeds from stock options exercised | $861 | $1,319 |
Tax benefits | ' | 317 |
Intrinsic value of stock options exercised | $1,631 | $1,963 |
ShareBased_Payments_Schedule_o2
Share-Based Payments (Schedule of Assumptions Used to Estimate Fair Value of Stock Options) (Details) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Share-Based Payments [Abstract] | ' | ' |
Weighted-average expected stock-price volatility | 37.00% | 38.00% |
Weighted-average expected option life | '5 years | '5 years |
Weighted-average risk-free interest rate | 1.60% | 0.89% |
Weighted-average dividend yield | 2.40% | 2.00% |
Net_Income_Attributable_to_Int4
Net Income Attributable to Inter Parfums Inc Common Shareholders (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Numerator: | ' | ' | ' | ' |
Net income attributable to Inter Parfums, Inc. | $11,113 | $7,854 | $26,115 | $43,365 |
Effect of dilutive securities of consolidated subsidiary | ' | ' | ' | -176 |
Numerator for diluted earnings per share | $11,113 | $7,854 | $26,115 | $43,189 |
Denominator: | ' | ' | ' | ' |
Weighted average shares | 30,941,000 | 30,796,000 | 30,927,000 | 30,743,000 |
Effect of dilutive securities, stock options | 113,000 | 190,000 | 133,000 | 185,000 |
Denominator for diluted earnings per share | 31,054,000 | 30,986,000 | 31,060,000 | 30,928,000 |
Earnings per share: | ' | ' | ' | ' |
Basic | $0.36 | $0.26 | $0.84 | $1.41 |
Diluted | $0.36 | $0.25 | $0.84 | $1.40 |
Antidilutive potential common shares excluded from computation of earnings per share | 130,000 | ' | 130,000 | 40,000 |
Net_Income_Attributable_to_Int5
Net Income Attributable to Inter Parfums Inc and Transfers From the Noncontrolling Interest (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interst [Abstract] | ' | ' | ' | ' |
Net income attributable to Inter Parfums, Inc. | $11,113 | $7,854 | $26,115 | $43,365 |
Decrease in Inter Parfums, Inc.?s additional paid-in capital for subsidiary share transactions | 16 | ' | 335 | ' |
Change from net income attributable to Inter Parfums, Inc. and transfers from noncontrolling interest | $11,097 | $7,854 | $25,780 | $43,365 |
Segment_and_Geographic_Areas_D
Segment and Geographic Areas (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net sales | $134,206 | $126,753 | $374,129 | $458,048 | ' |
Net income attributable to Inter Parfums, Inc. | 11,113 | 7,854 | 26,115 | 43,365 | ' |
Total Assets | 620,431 | ' | 620,431 | ' | 664,058 |
Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net sales | -35 | -69 | -95 | -108 | ' |
Net income attributable to Inter Parfums, Inc. | ' | ' | ' | 13 | ' |
Total Assets | -9,094 | ' | -9,094 | ' | -9,075 |
United States [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net sales | 30,784 | 28,686 | 73,718 | 72,040 | ' |
Net income attributable to Inter Parfums, Inc. | 2,705 | 2,156 | 4,042 | 4,359 | ' |
Total Assets | 80,887 | ' | 80,887 | ' | 76,980 |
Europe [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net sales | 103,457 | 98,136 | 300,506 | 386,116 | ' |
Net income attributable to Inter Parfums, Inc. | 8,480 | 5,698 | 22,073 | 38,993 | ' |
Total Assets | $548,638 | ' | $548,638 | ' | $596,153 |