Inter Parfums (IPAR) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 06, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	INTER PARFUMS INC
Entity Central Index Key	822,663
Amendment Flag	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		31,005,548

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 124,529	$ 90,138
Short-term investments	90,219	190,152
Accounts receivable, net	130,244	90,124
Inventories	106,991	102,326
Receivables, other	3,445	1,542
Other current assets	5,301	4,504
Income Taxes Receivable	51	929
Deferred tax assets	9,212	6,848
Total current assets	469,992	486,563
Equipment and leasehold improvements, net	8,712	9,187
Trademarks, licenses and other intangible assets, net	207,656	98,531
Other assets	8,543	10,225
Total assets	$ 694,903	604,506
Current liabilities:
Loans payable - banks		$ 298
Current portion of long-term debt	$ 21,975
Accounts payable - trade	39,322	$ 46,646
Accrued expenses	42,530	49,194
Income taxes payable	9,186	3,773
Dividends payable	4,031	3,717
Total current liabilities	117,044	$ 103,628
Long-term debt, less current portion	84,562
Deferred tax liability	$ 4,339	$ 2,154
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 31,005,208 and 30,977,293 shares at September 30, 2015 and December 31, 2014, respectively	$ 31	$ 31
Additional paid-in capital	61,235	60,200
Retained earnings	390,610	374,121
Accumulated other comprehensive (loss)	(39,915)	(15,823)
Treasury stock, at cost, 9,897,995 common shares at September 30, 2015 and December 31, 2014, respectively	(36,464)	(36,464)
Total Inter Parfums, Inc. shareholders' equity	375,497	382,065
Noncontrolling interest	113,461	116,659
Total equity	488,958	498,724
Total liabilities and equity	$ 694,903	$ 604,506

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS [Abstract]
Preferred stock, par	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	31,005,208	30,977,293
Treasury shares, shares	9,897,995	9,897,995

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
CONSOLIDATED STATEMENTS OF INCOME [Abstract]
Net sales	$ 138,944	$ 134,206	$ 350,214	$ 374,129
Cost of sales	53,118	58,878	136,453	161,455
Gross margin	85,826	75,328	213,761	212,674
Selling, general and administrative expenses	58,188	56,647	156,815	163,720
Income from operations	27,638	18,681	56,946	48,954
Other expenses (income):
Interest expense	1,041	554	1,811	1,402
(Gain) loss on foreign currency	(336)	(1,129)	1,751	(1,057)
Interest income	(857)	(915)	(2,829)	(2,974)
Other expenses (income)	(152)	(1,490)	733	(2,629)
Income before income taxes	27,790	20,171	56,213	51,583
Income taxes	9,156	6,407	18,754	18,003
Net income	18,634	13,764	37,459	33,580
Less: Net income attributable to the noncontrolling interest	4,414	2,651	8,881	7,465
Net income attributable to Inter Parfums, Inc.	$ 14,220	$ 11,113	$ 28,578	$ 26,115
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic	$ 0.46	$ 0.36	$ 0.92	$ 0.84
Diluted	$ 0.46	$ 0.36	$ 0.92	$ 0.84
Weighted average number of shares outstanding:
Basic	31,005	30,941	30,991	30,927
Diluted	31,098	31,054	31,092	31,060
Dividends declared per share	$ 0.13	$ 0.12	$ 0.39	$ 0.36

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Comprehensive income: (loss)
Net income	$ 18,634	$ 13,764	$ 37,459	$ 33,580
Other comprehensive income (loss):
Translation adjustments, net of tax	(442)	(37,990)	(33,031)	(42,620)
Comprehensive income (loss)	18,192	(24,226)	4,428	(9,040)
Comprehensive income (loss) attributable to the noncontrolling interests:
Net income	4,414	2,651	8,881	7,465
Other comprehensive income (loss):
Translation adjustments, net of tax	14	(10,786)	(8,939)	(12,296)
Comprehensive income (loss) attributable to the noncontrolling interests	4,428	(8,135)	(58)	(4,831)
Comprehensive income (loss) attributable to Inter Parfums, Inc.	$ 13,764	$ (16,091)	$ 4,486	$ (4,209)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss) [Member]	Treasury stock [Member]	Noncontrolling interest [Member]
Balance at Dec. 31, 2013		$ 31	$ 57,877	$ 359,459	$ 25,860	$ (36,016)	$ 128,145
Net income	$ 33,580			26,115			7,465
Foreign currency translation adjustment					(30,324)		(12,296)
Shares issued upon exercise of stock options			1,074			101
Shares received as proceeds of option exercises						(351)
Sale of subsidiary shares to noncontrolling interest			(335)				1,365
Dividends				(11,137)			(4,667)
Stock-based compensation			507	79			30
Balance at Sep. 30, 2014	512,982	31	59,123	374,516	(4,464)	(36,266)	120,042
Balance at Dec. 31, 2014	498,724	31	60,200	374,121	(15,823)	$ (36,464)	116,659
Net income	37,459			28,578			8,881
Foreign currency translation adjustment					(24,092)		(8,939)
Shares issued upon exercise of stock options			451
Shares received as proceeds of option exercises
Sale of subsidiary shares to noncontrolling interest			(6)				696
Dividends				$ (12,089)			$ (3,836)
Stock-based compensation			590
Balance at Sep. 30, 2015	$ 488,958	$ 31	$ 61,235	$ 390,610	$ (39,915)	$ (36,464)	$ 113,461

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 37,459	$ 33,580
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	6,718	7,723
Provision for doubtful accounts	39	456
Noncash stock compensation	590	689
Deferred tax benefit	(508)	$ (799)
Change in fair value of derivatives	670
Changes in:
Accounts receivable	(44,778)	$ (51,455)
Inventories	(10,737)	(3,566)
Other assets	(2,106)	(411)
Accounts payable and accrued expenses	(6,189)	(12,347)
Income taxes, net	6,346	12,931
Net cash used in operating activities	(12,496)	(13,199)
Cash flows from investing activities:
Purchases of short-term investments	(56,216)	(248,193)
Proceeds from sale of short-term investments	141,009	214,975
Purchases of equipment and leasehold improvements	(2,500)	(2,584)
Payment for intangible assets acquired	(119,541)	(821)
Net cash used in investing activities	$ (37,248)	(36,623)
Cash flows from financing activities:
Repayments of loans payable - banks, net		$ (5,841)
Proceeds from issuance of long-term debt	$ 111,440
Repayments of long-term debt	(6,404)
Proceeds from exercise of options	451	$ 861
Proceeds from sale of stock of subsidiary	690	1,030
Dividends paid	(11,775)	(11,128)
Dividends paid to noncontrolling interest	$ (3,836)	(4,667)
Purchase of treasury stock		(37)
Net cash provided by (used in) financing activities	$ 90,566	(19,782)
Effect of exchange rate changes on cash	(6,431)	(5,861)
Net increase (decrease) in cash and cash equivalents	34,391	(75,465)
Cash and cash equivalents - beginning of period	90,138	125,650
Cash and cash equivalents - end of period	124,529	50,185
Cash paid for:
Interest	1,688	1,028
Income taxes	$ 16,692	$ 6,396

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
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, 2014. 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 Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
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 (“ASU”) 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, 2017, with early adoption permitted for annual periods after December 15, 2016. We are currently evaluating the standard to determine the impact of its adoption on our consolidated financial statements. In July 2015, the FASB issued an ASU modifying the accounting for inventory. Under this ASU, the measurement principle for inventory will change from lower of cost or market value to lower of cost and net realizable value. The ASU defines net realizable value as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The ASU is applicable to inventory that is accounted for under the first-in, first-out method and is effective for reporting periods after December 15, 2016, with early adoption 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.

New Agreements

New Agreements	9 Months Ended
	Sep. 30, 2015
New Agreements [Abstract]
New Agreements	3. New Agreements: In October 2015, the Company, through its majority owned Paris-based subsidiary, Interparfums SA, has extended its license agreement with Montblanc by five years. The original agreement, signed in 2010, provided Interparfums SA with the exclusive worldwide license rights to create, produce and distribute perfumes and ancillary products under the Montblanc brand through December 31, 2020. The new 10-year agreement, which goes into effect on January 1, 2016, extends the partnership through December 31, 2025 without any material changes in operating conditions from the prior license. The license agreement is subject to certain minimum sales, advertising expenditures and royalty payments as are customary in our industry. In May 2015, the Company, through its majority owned Paris-based subsidiary, Interparfums SA, acquired the Rochas brand from The Procter & Gamble Company. This transaction includes all brand names and registered trademarks for Rochas (Femme, Madame, Eau de Rochas 106 118 5.4 4.4 The cost of the acquisition was paid in cash on the closing date and was financed entirely through a 5 tested semi-annually, 1.2 In April 2015, the Company, through its majority owned Paris-based subsidiary, Interparfums SA, entered into an 11 In July 2015, Interparfums SA formed a new subsidiary in Spain, Parfums Rochas. The subsidiary is 51 49 (In thousands) September 30, December 31, Trademarks, licenses and other intangible assets – beginning of period $ 98,531 $ 116,243 Trademarks, licenses and other intangible assets acquired 119,541 922 Amortization (4,291 ) (6,595 ) Foreign currency translation adjustment (6,125 ) (12,039 ) Trademarks, licenses and other intangible assets – end of period $ 207,656 $ 98,531

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventories [Abstract]
Inventories	4. Inventories: Inventories consist of the following: (In thousands) September 30, 2015 December 31 , 2014 Raw materials and component parts $ 28,664 $ 36,383 Finished goods 78,327 65,943 $ 106,991 $ 102,326

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2015
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	5. Fair Value Measurement: The following tables present our financial assets and liabilities 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, 2015 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 $ 90,219 $ — $ 90,219 $ — Foreign currency forward exchange contracts not 285 — 285 — $ 90,504 $ — $ 90,504 $ — Liabilities; Interest rate swaps $ 670 $ — $ 670 $ — Fair Value Measurements at December 31, 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 $ 190,152 $ — $ 190,152 $ — Liabilities: Foreign currency forward exchange contracts not $ 355 $ — $ 355 $ — The carrying amount of cash and cash equivalents including money market funds, 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. The fair value of the Company's long-term debt was estimated based on the current rates offered to companies for debt with the same remaining maturities and is approximately equal to its carrying value. Foreign currency forward exchange contracts are valued based on quotations from financial institutions and the value of interest rate swaps are the discounted net present value of the swaps using third party quotes obtained from financial institutions.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2015
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 transactions expected to be denominated in a foreign currency. In connection with the Rochas acquisition, $ 108 5 108 1.067 For the three and nine months ended September 30, 2015, the loss of $ 0.5 0.7 All derivative instruments are reported as either assets or liabilities on the balance sheet measured at fair value. The valuation of interest rate swaps resulted in a liability which is included in long-term debt on the accompanying balance sheet as of September 30, 2015. At September 30, 2015, we had foreign currency contracts in the form of forward exchange contracts in the amount of approximately U.S. $ 14.6 4 115 one

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2015
Accrued Expenses [Abstract]
Accrued Expenses	7. Accrued Expenses: Accrued expenses include approximately $ 11.8 16.5

Share-Based Payments

Share-Based Payments	9 Months Ended
	Sep. 30, 2015
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 four five 0.03 The following table sets forth information with respect to nonvested options for the nine month period ended September 30, 2015: Weighted Average Number of Shares Grant Date Fair Value Nonvested options – beginning of period 385,505 $ 7.14 Nonvested options granted 14,000 $ 6.73 Nonvested options vested or forfeited (9,935 ) $ 6.80 Nonvested options – end of period 389,570 $ 7.14 Share-based payment expense decreased income before income taxes by $ 0.20 0.59 0.23 0.69 0.12 0.35 0.13 0.38 corresponding periods of the prior year The following table summarizes stock option information as of September 30, 2015: Weighted Average Shares Exercise Price Outstanding at January 1, 2015 639,495 $ 23.19 Options granted 14,000 25.67 Options cancelled (4,700 ) 27.51 Options exercised (27,915 ) 16.18 Outstanding at September 30, 2015 620,880 $ 23.53 Options exercisable 231,310 $ 18.76 Options available for future grants 319,235 As of September 30, 2015, the weighted average remaining contractual life of options outstanding is 3.25 1.94 2.6 1.7 2.1 Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2015 and September 30, 2014 were as follows: September 30, September 30, (In thousands) 2015 2014 Cash proceeds from stock options exercised $ 451 $ 861 Tax benefits — — Intrinsic value of stock options exercised 482 1,631 The weighted average fair values of the options granted by Inter Parfums, Inc. during the nine months ended September 30, 2015 and 2014 were $ 6.73 8.47 The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2015 and 2014 are set forth in the following table: September 30, September 30, 2015 2014 Weighted average expected stock-price volatility 34 % 37 % Weighted average expected option life 5 5 Weighted average risk-free interest rate 1.28 % 1.60 % Weighted average dividend yield 1.8 % 2.4 % 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 increases.

Net Income Attributable to Inte

Net Income Attributable to Inter Parfums, Inc. Common Shareholders	9 Months Ended
	Sep. 30, 2015
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: (In thousands) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Numerator: Net income attributable to Inter Parfums, Inc. $ 14,220 $ 11,113 $ 28,578 $ 26,115 Effect of dilutive securities of consolidated subsidiary — — — — Numerator for diluted earnings per share $ 14,220 $ 11,113 $ 28,578 $ 26,115 Denominator: Weighted average shares 31,005 30,941 30,991 30,927 Effect of dilutive securities: Stock options 93 113 101 133 Denominator for diluted earnings per share 31,098 31,054 31,092 31,060 Earnings per share: Net income attributable to Inter Parfums, Inc. Basic $ 0.46 $ 0.36 $ 0.92 $ 0.84 Diluted 0.46 0.36 0.92 0.84 Not included in the above computations is the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.27 0.13 0.27 0.13 5 and 2014 , respectively

Net Income Attributable to In17

Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest	9 Months Ended
	Sep. 30, 2015
Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest [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 2015 2014 2015 2014 Net income attributable to Inter Parfums, Inc. $ 14,220 $ 11,113 $ 28,578 $ 26,115 Decrease in Inter Parfums, Inc.'s additional paid-in capital for subsidiary share transactions — 16 6 335 Change from net income attributable to Inter Parfums, Inc. and transfers from noncontrolling interest $ 14,220 $ 11,097 $ 28,572 $ 25,780

Segments and Geographic Areas

Segments and Geographic Areas	9 Months Ended
	Sep. 30, 2015
Segments and Geographic Areas [Abstract]
Segments 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 fragrances. Information on our operations by geographical areas is as follows: (In thousands) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Net sales: United States $ 28,770 $ 30,784 $ 76,123 $ 73,718 Europe 110,204 103,457 274,212 300,506 Eliminations (30 ) (35 ) (121 ) (95 ) $ 138,944 $ 134,206 $ 350,214 $ 374,129 Net income attributable to Inter Parfums, Inc.: United States $ 2,537 $ 2,705 $ 4,886 $ 4,042 Europe 11,683 8,408 23,692 22,073 $ 14,220 $ 11,113 $ 28,578 $ 26,115 September 30, December 31, 2015 2014 Total Assets: United States $ 81,599 $ 78,740 Europe 622,429 535,049 Eliminations of investment in subsidiary (9,125 ) (9,283 ) $ 694,903 $ 604,506

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Taxes [Abstract]
Income Taxes	12 . Income Taxes: The Company is undergoing a tax audit by the French Tax Authorities; it is too early to assess whether or not this audit will have any impact on the Company's financial statements.

New Agreement (Tables)

New Agreement (Tables)	9 Months Ended
	Sep. 30, 2015
New Agreements [Abstract]
Schedule of Trademarks, Licenses and Other Intangible Assets	(In thousands) September 30, December 31, Trademarks, licenses and other intangible assets – beginning of period $ 98,531 $ 116,243 Trademarks, licenses and other intangible assets acquired 119,541 922 Amortization (4,291 ) (6,595 ) Foreign currency translation adjustment (6,125 ) (12,039 ) Trademarks, licenses and other intangible assets – end of period $ 207,656 $ 98,531

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventories [Abstract]
Schedule of Inventories	(In thousands) September 30, 2015 December 31 , 2014 Raw materials and component parts $ 28,664 $ 36,383 Finished goods 78,327 65,943 $ 106,991 $ 102,326

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value of Financial Instruments [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	(In thousands) Fair Value Measurements at September 30, 2015 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 $ 90,219 $ — $ 90,219 $ — Foreign currency forward exchange contracts not 285 — 285 — $ 90,504 $ — $ 90,504 $ — Liabilities; Interest rate swaps $ 670 $ — $ 670 $ — Fair Value Measurements at December 31, 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 $ 190,152 $ — $ 190,152 $ — Liabilities: Foreign currency forward exchange contracts not $ 355 $ — $ 355 $ —

Share-Based Payments (Tables)

Share-Based Payments (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Nonvested Option Activity	Weighted Average Number of Shares Grant Date Fair Value Nonvested options – beginning of period 385,505 $ 7.14 Nonvested options granted 14,000 $ 6.73 Nonvested options vested or forfeited (9,935 ) $ 6.80 Nonvested options – end of period 389,570 $ 7.14
Schedule of Stock Option Activity	Weighted Average Shares Exercise Price Outstanding at January 1, 2015 639,495 $ 23.19 Options granted 14,000 25.67 Options cancelled (4,700 ) 27.51 Options exercised (27,915 ) 16.18 Outstanding at September 30, 2015 620,880 $ 23.53 Options exercisable 231,310 $ 18.76 Options available for future grants 319,235
Summary of Options Exercised	September 30, September 30, (In thousands) 2015 2014 Cash proceeds from stock options exercised $ 451 $ 861 Tax benefits — — Intrinsic value of stock options exercised 482 1,631
Schedule of Assumptions Used to Estimate Fair Value of Stock Options	September 30, September 30, 2015 2014 Weighted average expected stock-price volatility 34 % 37 % Weighted average expected option life 5 5 Weighted average risk-free interest rate 1.28 % 1.60 % Weighted average dividend yield 1.8 % 2.4 %

Net Income Attributable to In24

Net Income Attributable to Inter Parfums, Inc Common Shareholders (Tables)	9 Months Ended
	Sep. 30, 2015
Net Income Attributable to Inter Parfums, Inc. Common Shareholders [Abstract]
Computation of Basic and Diluted Earnings Per Share	(In thousands) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Numerator: Net income attributable to Inter Parfums, Inc. $ 14,220 $ 11,113 $ 28,578 $ 26,115 Effect of dilutive securities of consolidated subsidiary — — — — Numerator for diluted earnings per share $ 14,220 $ 11,113 $ 28,578 $ 26,115 Denominator: Weighted average shares 31,005 30,941 30,991 30,927 Effect of dilutive securities: Stock options 93 113 101 133 Denominator for diluted earnings per share 31,098 31,054 31,092 31,060 Earnings per share: Net income attributable to Inter Parfums, Inc. Basic $ 0.46 $ 0.36 $ 0.92 $ 0.84 Diluted 0.46 0.36 0.92 0.84

Net Income Attributable to In25

Net Income Attributable to Inter Parfums, Inc and Transfers From the Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2015
Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest [Abstract]
Schedule of Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest	(In thousands) Three months ended Nine months ended 2015 2014 2015 2014 Net income attributable to Inter Parfums, Inc. $ 14,220 $ 11,113 $ 28,578 $ 26,115 Decrease in Inter Parfums, Inc.'s additional paid-in capital for subsidiary share transactions — 16 6 335 Change from net income attributable to Inter Parfums, Inc. and transfers from noncontrolling interest $ 14,220 $ 11,097 $ 28,572 $ 25,780

Segments and Geographic Areas (

Segments and Geographic Areas (Tables)	9 Months Ended
	Sep. 30, 2015
Segments and Geographic Areas [Abstract]
Summary of Operations by Geographical Area	(In thousands) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Net sales: United States $ 28,770 $ 30,784 $ 76,123 $ 73,718 Europe 110,204 103,457 274,212 300,506 Eliminations (30 ) (35 ) (121 ) (95 ) $ 138,944 $ 134,206 $ 350,214 $ 374,129 Net income attributable to Inter Parfums, Inc.: United States $ 2,537 $ 2,705 $ 4,886 $ 4,042 Europe 11,683 8,408 23,692 22,073 $ 14,220 $ 11,113 $ 28,578 $ 26,115 September 30, December 31, 2015 2014 Total Assets: United States $ 81,599 $ 78,740 Europe 622,429 535,049 Eliminations of investment in subsidiary (9,125 ) (9,283 ) $ 694,903 $ 604,506

New Agreements (Details)

New Agreements (Details) € in Millions, $ in Millions	1 Months Ended
	May. 31, 2015USD ($)	May. 31, 2015EUR (€)	Apr. 30, 2015	Jul. 31, 2015
New Agreements [Abstract]
License agreement term with Coach, Inc. to create, produce and distribute new perfumes and fragrance related products			11 years
Rochas Brand [Member]
Acquisition, Rochas Brand [Line Items]
Payment for related inventory	$ 4.4
Rochas Brand [Member] | Trademarks [Member]
Acquisition, Rochas Brand [Line Items]
Acquired intangible assets with indefinite lives	118	€ 106
Acquisition related expenses	$ 5.4
Rochas Brand [Member] | Trademarks [Member] | Term Loan [Member]
Acquisition, Rochas Brand [Line Items]
Cash paid for acquisition and financed by loan, term	5 years	5 years
Rochas Brand [Member] | Trademarks [Member] | Term Loan [Member] | Interest Rate Swap [Member]
Acquisition, Rochas Brand [Line Items]
Derivative, fixed interest rate	1.20%	1.20%
Parfums Rochas [Member]
New subsidiary in Spain [Line items]
Ownership percentage by Interparfums SA				51.00%
Ownership percentage by its Rochas distributor for Spain				49.00%

New Agreement (Schedule of Acit

New Agreement (Schedule of Acitivity Relating To Trademarks, Licenses and Other Intangible Assets) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
New Agreements [Abstract]
Trademarks, licenses and other intangible assets - beginning of period	$ 98,531	$ 116,243
Trademarks, licenses and other intangible assets acquired	119,541	922
Amortization	(4,291)	(6,595)
Foreign currency translation adjustment	(6,125)	(12,039)
Trademarks, licenses and other intangible assets - end of period	$ 207,656	$ 98,531

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventories [Abstract]
Raw materials and component parts	$ 28,664	$ 36,383
Finished goods	78,327	65,943
Inventories	$ 106,991	$ 102,326

Fair Value Measurement (Details

Fair Value Measurement (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Short-term investments	$ 90,219	$ 190,152
Foreign currency forward exchange contracts not accounted for using hedge accounting	285
Total assets	90,504
Liabilities:
Interest rate swaps	$ 670
Foreign currency forward exchange contracts not accounted for using hedge accounting		$ 355
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
Total assets
Liabilities:
Interest rate swaps
Foreign currency forward exchange contracts not accounted for using hedge accounting
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Short-term investments	$ 90,219	$ 190,152
Foreign currency forward exchange contracts not accounted for using hedge accounting	285
Total assets	90,504
Liabilities:
Interest rate swaps	$ 670
Foreign currency forward exchange contracts not accounted for using hedge accounting		$ 355
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Short-term investments
Foreign currency forward exchange contracts not accounted for using hedge accounting
Total assets
Liabilities:
Interest rate swaps
Foreign currency forward exchange contracts not accounted for using hedge accounting

Derivative Financial Instrume31

Derivative Financial Instruments (Details) ¥ in Millions, £ in Millions, $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	May. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015GBP (£)	Sep. 30, 2015JPY (¥)
Foreign currency forward exchange contracts [Member]
Derivative Financial Instruments [Line Items]
Notional amount		$ 14.6	$ 14.6	£ 4	¥ 115
Maximum maturity period			1 year
Rochas brand [Member] | Trademarks [Member] | Term Loan [Member]
Derivative Financial Instruments [Line Items]
Cash paid for acquisition and financed by loan, term	5 years
Cash paid for acquisition and financed by loan, amount	$ 108
Rochas brand [Member] | Trademarks [Member] | Term Loan [Member] | Foreign currency forward exchange contracts [Member]
Derivative Financial Instruments [Line Items]
Exchange rate (dollar per euro)		1.067	1.067	1.067	1.067
Notional amount		$ 108	$ 108
Rochas brand [Member] | Trademarks [Member] | Term Loan [Member] | Interest Rate Swap [Member]
Derivative Financial Instruments [Line Items]
Loss on derivative instrument		$ 0.5	$ 0.7

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Accrued Expenses [Abstract]
Accrued advertising liabilities	$ 11.8	$ 16.5

Share-Based Payments (Narrative

Share-Based Payments (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of employee stock options			6 years
Employee stock options, fair value of shares vested			$ 30	$ 30
Decrease in income before income tax due to share-based payment expense	$ 200	$ 230	590	690
Decrease in income attributable to Inter Parfums, Inc due to share-based payment expense	120	$ 130	$ 350	$ 380
Weighted average remaining contractual life of options outstanding			3 years 3 months
Weighted average remaining contractual life of options exercisable			1 year 11 months 8 days
Aggregate intrinsic value of options outstanding	2,600		$ 2,600
Aggregate intrinsic value of options exercisable	1,700		1,700
Unrecognized compensation cost related to stock options	$ 2,100		$ 2,100
Weighted average grant date fair value			$ 6.73	$ 8.47
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

Share-Based Payments (Schedule

Share-Based Payments (Schedule of Nonvested Option Activity) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Nonvested Options, Number of Shares
Beginning of period	385,505
Options granted	14,000
Vested or forfeited	(9,935)
End of period	389,570
Weighted Average Grant Date Fair Value
Beginning of period	$ 7.14
Granted	6.73	$ 8.47
Vested or forfeited	6.80
End of period	$ 7.14

Share-Based Payments (Schedul35

Share-Based Payments (Schedule of Stock Option Activity) (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Shares
Outstanding, beginning balance	639,495
Options granted	14,000
Options cancelled	(4,700)
Options exercised	(27,915)
Outstanding, ending balance	620,880
Options exercisable	231,310
Options available for future grants	319,235
Weighted Average Exercise Price
Outstanding, beginning balance | $ / shares	$ 23.19
Options granted | $ / shares	25.67
Options cancelled | $ / shares	27.51
Options exercised | $ / shares	16.18
Outstanding, ending balance | $ / shares	23.53
Options exercisable | $ / shares	$ 18.76

Share-Based Payments (Summary o

Share-Based Payments (Summary of Stock Options Exercised) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Equity [Abstract]
Cash proceeds from stock options exercised	$ 451	$ 861
Tax benefits
Intrinsic value of stock options exercised	$ 482	$ 1,631

Share-Based Payments (Schedul37

Share-Based Payments (Schedule of Assumptions Used to Estimate Fair Value of Stock Options) (Details)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Equity [Abstract]
Weighted-average expected stock-price volatility	34.00%	37.00%
Weighted-average expected option life	5 years	5 years
Weighted-average risk-free interest rate	1.28%	1.60%
Weighted-average dividend yield	1.80%	2.40%

Net Income Attributable to In38

Net Income Attributable to Inter Parfums, Inc Common Shareholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net income attributable to Inter Parfums, Inc.	$ 14,220	$ 11,113	$ 28,578	$ 26,115
Effect of dilutive securities of consolidated subsidiary
Numerator for diluted earnings per share	$ 14,220	$ 11,113	$ 28,578	$ 26,115
Denominator:
Weighted average shares	31,005	30,941	30,991	30,927
Effect of dilutive securities: Stock options	93	113	101	133
Denominator for diluted earnings per share	31,098	31,054	31,092	31,060
Earnings per share:
Basic	$ 0.46	$ 0.36	$ 0.92	$ 0.84
Diluted	$ 0.46	$ 0.36	$ 0.92	$ 0.84
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive common shares	270	130	270	130

Net Income Attributable to In39

Net Income Attributable to Inter Parfums, Inc and Transfers From the Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest [Abstract]
Net income attributable to Inter Parfums, Inc.	$ 14,220	$ 11,113	$ 28,578	$ 26,115
Decrease in Inter Parfums, Inc.'s additional paid-in capital for subsidiary share transactions		16	6	335
Change from net income attributable to Inter Parfums, Inc. and transfers from noncontrolling interest	$ 14,220	$ 11,097	$ 28,572	$ 25,780

Segment and Geographic Areas (O

Segment and Geographic Areas (Operations by Geographical Areas) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net sales	$ 138,944	$ 134,206	$ 350,214	$ 374,129
Net income attributable to Inter Parfums, Inc.	14,220	11,113	28,578	26,115
Total assets	694,903		694,903		$ 604,506
Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(30)	(35)	(121)	(95)
Total assets	(9,125)		(9,125)		(9,283)
United States [Member]
Segment Reporting Information [Line Items]
Net sales	28,770	30,784	76,123	73,718
Net income attributable to Inter Parfums, Inc.	2,537	2,705	4,886	4,042
Total assets	81,599		81,599		78,740
Europe [Member]
Segment Reporting Information [Line Items]
Net sales	110,204	103,457	274,212	300,506
Net income attributable to Inter Parfums, Inc.	11,683	$ 8,408	23,692	$ 22,073
Total assets	$ 622,429		$ 622,429		$ 535,049