Inter Parfums (IPAR) 10-Q 9 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 05, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	INTER PARFUMS INC
Entity Central Index Key	822,663
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	IPAR
Entity Common Stock, Shares Outstanding		31,060,285

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 115,850	$ 176,967
Short-term investments	115,884	82,847
Accounts receivable, net	101,001	95,082
Inventories	124,254	98,346
Receivables, other	2,075	2,422
Other current assets	6,765	5,811
Income tax receivable	1,058	100
Deferred tax assets	8,079	7,182
Total current assets	474,966	468,757
Equipment and leasehold improvements, net	10,688	9,333
Trademarks, licenses and other intangible assets, net	202,515	201,335
Other assets	8,592	8,234
Total assets	696,761	687,659
Current liabilities:
Current portion of long-term debt	22,734	22,163
Accounts payable - trade	60,672	50,636
Accrued expenses	42,605	46,890
Income taxes payable	6,441	7,359
Dividends payable	4,659	4,035
Total current liabilities	137,111	131,083
Long-term debt, less current portion	67,176	76,443
Deferred tax liability	3,724	3,746
Inter Parfums, Inc. shareholders’ equity:
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued	0	0
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 31,058,965 and 31,037,915 shares at June 30, 2016 and December 31, 2015, respectively	31	31
Additional paid-in capital	62,818	62,030
Retained earnings	392,284	388,434
Accumulated other comprehensive loss	(42,421)	(48,091)
Treasury stock, at cost, 9,880,058 common shares at June 30, 2016 and December 31, 2015, respectively	(36,817)	(36,817)
Total Inter Parfums, Inc. shareholders’ equity	375,895	365,587
Noncontrolling interest	112,855	110,800
Total equity	488,750	476,387
Total liabilities and equity	$ 696,761	$ 687,659

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
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	31,058,965	31,037,915
Treasury shares, shares	9,880,058	9,880,058

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net sales	$ 117,157	$ 102,021	$ 228,679	$ 211,270
Cost of sales	42,729	41,696	82,933	83,335
Gross margin	74,428	60,325	145,746	127,935
Selling, general and administrative expenses	62,969	52,083	116,757	98,627
Income from operations	11,459	8,242	28,989	29,308
Other expenses (income):
Interest expense	693	613	1,666	771
(Gain) loss on foreign currency	(661)	80	53	2,086
Interest income	(602)	(776)	(1,956)	(1,972)
Other expenses (income)	(570)	(83)	(237)	885
Income before income taxes	12,029	8,325	29,226	28,423
Income taxes	4,300	2,805	12,049	9,598
Net income	7,729	5,520	17,177	18,825
Less: Net income attributable to the noncontrolling interest	1,898	1,169	4,012	4,467
Net income attributable to Inter Parfums, Inc.	$ 5,831	$ 4,351	$ 13,165	$ 14,358
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic	$ 0.19	$ 0.14	$ 0.42	$ 0.46
Diluted	$ 0.19	$ 0.14	$ 0.42	$ 0.46
Weighted average number of shares outstanding:
Basic	31,055	30,988	31,047	30,984
Diluted	31,138	31,107	31,121	31,089
Dividends declared per share	$ 0.15	$ 0.13	$ 0.3	$ 0.26

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Comprehensive income (loss):
Net income	$ 7,729	$ 5,520	$ 17,177	$ 18,825
Other comprehensive income (loss):
Reclassification from OCI into earnings, net	0	608	0	0
Translation adjustments, net of tax	(10,779)	15,279	8,113	(32,589)
Comprehensive income (loss)	(3,050)	21,407	25,290	(13,764)
Comprehensive income (loss) attributable to the noncontrolling interests:
Net income	1,898	1,169	4,012	4,467
Reclassification from OCI into earnings, net	0	165	0	0
Translation adjustments, net of tax	(2,806)	4,122	2,443	(8,953)
Comprehensive income (loss) attributable to the noncontrolling interests	(908)	5,456	6,455	(4,486)
Comprehensive income (loss) attributable to Inter Parfums, Inc.	$ (2,142)	$ 15,951	$ 18,835	$ (9,278)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN 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, 2014			$ 60,200	$ 374,121	$ (15,823)		$ 116,659
Net income	$ 18,825			14,358			4,467
Foreign currency translation adjustment, net of tax	(32,589)				(23,636)		(8,953)
Shares issued upon exercise of stock options			429
Stock-based compensation			392
Sale of subsidiary shares to noncontrolling interest			(6)				654
Dividends				(8,058)			(3,836)
Balance at Jun. 30, 2015	474,535	$ 31	61,015	380,421	(39,459)	$ (36,464)	108,991
Balance at Dec. 31, 2015	476,387		62,030	388,434	(48,091)		110,800
Net income	17,177			13,165			4,012
Foreign currency translation adjustment, net of tax	8,113				5,670		2,443
Shares issued upon exercise of stock options			402
Stock-based compensation			421
Sale of subsidiary shares to noncontrolling interest			(35)				463
Dividends				(9,315)			(4,863)
Balance at Jun. 30, 2016	$ 488,750	$ 31	$ 62,818	$ 392,284	$ (42,421)	$ (36,817)	$ 112,855

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 17,177	$ 18,825
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	4,705	4,441
Provision for doubtful accounts	197	55
Noncash stock compensation	421	392
Deferred tax provision	(862)	1,567
Change in fair value of derivatives	338	186
Changes in:
Accounts receivable	(4,460)	(4,494)
Inventories	(24,417)	(26,182)
Other assets	(611)	(1,929)
Accounts payable and accrued expenses	3,633	(289)
Income taxes, net	(2,021)	(1,601)
Net cash used in operating activities	(5,900)	(9,029)
Cash flows from investing activities:
Purchases of short-term investments	(37,119)	(56,307)
Proceeds from sale of short-term investments	5,576	79,592
Purchases of equipment and leasehold improvements	(2,963)	(1,588)
Payment for intangible assets acquired	(370)	(119,500)
Net cash used in investing activities	(34,876)	(97,803)
Cash flows from financing activities:
Repayments of loans payable - banks, net	0	(274)
Proceeds from issuance of long-term debt	0	111,620
Repayments of long-term debt	(11,085)	(438)
Proceeds from exercise of options	402	428
Proceeds from sale of stock of subsidiary	428	654
Dividends paid	(8,691)	(7,745)
Dividends paid to noncontrolling interest	(4,863)	(4,759)
Net cash provided by (used in) financing activities	(23,809)	99,486
Effect of exchange rate changes on cash	3,468	(5,861)
Net decrease in cash and cash equivalents	(61,117)	(13,207)
Cash and cash equivalents - beginning of period	176,967	90,138
Cash and cash equivalents - end of period	115,850	76,931
Cash paid for:
Interest	1,100	1,093
Income taxes	$ 13,985	$ 11,797

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	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, 2015. 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.

Settlement with French Tax Auth

Settlement with French Tax Authorities	6 Months Ended
	Jun. 30, 2016
Settlement with Tax Authority [Abstract]
Settlement with Tax Authority [Text Block]	2. Settlement with French Tax Authorities: As previously reported, the French Tax Authorities examined the 2012 tax return of Interparfums SA, and in August 2015 issued a $ 6.9 1.9

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
Recent Accounting Pronouncements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	3. Recent Accounting Pronouncements: In March 2016, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which simplifies several aspects of the accounting for share based payments, including the income tax consequences and classification on the statement of cash flows. Under the new standard, all excess tax benefits and deficiencies will be recognized as income tax expense or benefit in the income statement. Additionally, excess tax benefits will be classified as an operating activity on the statement of cash flows. This ASU is effective for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. The amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement must be applied prospectively, and entities are allowed to elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective or retrospective transition method. We are currently evaluating the standard to determine the impact of its adoption on our consolidated financial statements. In February 2016, the FASB issued an ASU which requires lessees to recognize lease assets and lease liabilities arising from operating leases on the balance sheet. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018 using a modified retrospective approach, with early adoption permitted. We are currently evaluating the standard to determine the impact of its adoption on our consolidated financial statements. In November 2015, the FASB issued an ASU that requires all deferred tax liabilities and assets to be classified as noncurrent on the balance sheet. This ASU is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption permitted. In addition, this guidance can be applied either prospectively or retrospectively to all periods presented. 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 have evaluated the standard and determined that there is no material impact on our consolidated financial statements. In May 2014, the FASB issued an 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 31, 2016. We have evaluated the standard and determined that there will be no material impact 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.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventories [Abstract]
Inventory Disclosure [Text Block]	4. Inventories: (In thousands) June 30, December 31, Raw materials and component parts $ 39,065 $ 30,569 Finished goods 85,189 67,777 $ 124,254 $ 98,346

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2016
Fair Value of Financial Instruments [Abstract]
Fair Value Disclosures [Text Block]	5. Fair Value Measurement: (In thousands) Fair Value Measurements at June 30, 2016 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 $ 115,884 $ — $ 115,884 $ — Liabilities: Foreign currency forward exchange contracts not accounted for using hedge accounting 57 — 57 — Interest rate swaps $ 1,420 $ — $ 1,420 $ — $ 1,477 $ — $ 1,477 $ — Fair Value Measurements at December 31, 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 $ 82,847 $ — $ 82,847 $ — Foreign currency forward exchange contracts not accounted for using hedge accounting 123 — 123 — $ 82,970 $ — $ 82,970 $ — Liabilities: Interest rate swaps $ 1,026 $ — $ 1,026 $ — 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	6 Months Ended
	Jun. 30, 2016
Derivative Financial Instruments [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	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. In connection with the 2015 Rochas brand acquisition, $ 108 5 108 1.067 Gains and losses in derivatives not designated as hedges are included in loss on foreign currency on the accompanying income statement and were immaterial for the six months ended June 30, 2016 and 2015. For the six months ended June 30, 2016, interest expense includes a loss of $ 0.4 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 sheets. The valuation of foreign currency forward exchange contracts not accounted for using hedge accounting resulted in a liability and is included in accrued expenses 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 change in fair value of the derivative instrument is recorded as a separate component of shareholders’ equity. At June 30, 2016, we had foreign currency contracts in the form of forward exchange contracts in the amount of approximately U.S. $ 13.6 3.4 192

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2016
Accrued Expenses [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7. Accrued Expenses: Accrued expenses include approximately $14.1 million and $15.2 million in advertising liabilities as of June 30, 2016 and December 31, 2015, respectively.

Share-Based Payments

Share-Based Payments	6 Months Ended
	Jun. 30, 2016
Share-Based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	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 for the six months ended June 30, 2016 and 2015 aggregated $ 0.05 0.03 Number of Shares Weighted Average Nonvested options – beginning of period 414,850 $ 6.86 Nonvested options granted 5,000 $ 6.50 Nonvested options vested or forfeited (20,350) $ 6.82 Nonvested options – end of period 399,500 $ 6.85 Share-based payment expense decreased income before income taxes by $ 0.21 0.42 0.20 0.39 0.13 0.25 0.12 0.24 Shares Weighted Average Outstanding at January 1, 2016 709,300 $ 24.34 Options granted 5,000 26.40 Options cancelled (15,020) 27.30 Options exercised (21,050) 19.08 Outstanding at June 30, 2016 678,230 $ 24.45 Options exercisable 278,730 $ 22.13 Options available for future grants 188,065 As of June 30, 2016, the weighted average remaining contractual life of options outstanding is 3.37 2.35 3.7 2.1 2.3 (In thousands) June 30, June 30, Cash proceeds from stock options exercised $ 402 $ 428 Tax benefits -- -- Intrinsic value of stock options exercised 233 462 The weighted average fair values of the options granted by Inter Parfums, Inc. during the six months ended June 30, 2016 and 2015 were $ 6.50 6.73 June 30, June 30, Weighted average expected stock-price volatility 33 % 34 % Weighted average expected option life 5 years 5 years Weighted average risk-free interest rate 1.42 % 1.28 % Weighted average dividend yield 2.2 % 1.8 % 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	6 Months Ended
	Jun. 30, 2016
Net Income Attributable to Inter Parfums, Inc. Common Shareholders [Abstract]
Earnings Per Share [Text Block]	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 income attributable to Inter Parfums, Inc. by the weighted average number of shares outstanding. Net income 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. Three months ended Six months ended (In thousands) June 30, June 30, 2016 2015 2016 2015 Numerator: Net income attributable to Inter Parfums, Inc. $ 5,831 $ 4,351 $ 13,165 $ 14,358 Denominator: Weighted average shares 31,055 30,988 31,047 30,984 Effect of dilutive securities: Stock options 83 119 74 105 Denominator for diluted earnings per share 31,138 31,107 31,121 31,089 Earnings per share: Net income attributable to Inter Parfums, Inc. common shareholders: Basic $ 0.19 $ 0.14 $ 0.42 $ 0.46 Diluted 0.19 0.14 0.42 0.46 Not included in the above computations is the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.34 0.27 0.27 0.26

Segment and Geographic Areas

Segment and Geographic Areas	6 Months Ended
	Jun. 30, 2016
Segments and Geographic Areas [Abstract]
Segment Reporting Disclosure [Text Block]	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. Both European operations and United States operations primarily represent the sale of prestige brand name fragrances. (In thousands) Three months ended Six months ended 2016 2015 2016 2015 Net sales: United States $ 28,561 $ 24,874 $ 47,946 $ 47,353 Europe 88,656 77,221 180,812 164,008 Eliminations (60) (74) (79) (91) $ 117,157 $ 102,021 $ 228,679 $ 211,270 Net income attributable to Inter Parfums, Inc.: United States $ 1,557 $ 1,241 $ 1,954 $ 2,349 Europe 4,274 3,110 11,211 12,009 $ 5,831 $ 4,351 $ 13,165 $ 14,358 June 30, December 31, 2016 2015 Total Assets: United States $ 95,382 $ 80,761 Europe 610,567 616,199 Eliminations of investment in subsidiary (9,188) (9,301) $ 696,761 $ 687,659

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventories [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following: (In thousands) June 30, December 31, Raw materials and component parts $ 39,065 $ 30,569 Finished goods 85,189 67,777 $ 124,254 $ 98,346

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value of Financial Instruments [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	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 June 30, 2016 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 $ 115,884 $ — $ 115,884 $ — Liabilities: Foreign currency forward exchange contracts not accounted for using hedge accounting 57 — 57 — Interest rate swaps $ 1,420 $ — $ 1,420 $ — $ 1,477 $ — $ 1,477 $ — Fair Value Measurements at December 31, 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 $ 82,847 $ — $ 82,847 $ — Foreign currency forward exchange contracts not accounted for using hedge accounting 123 — 123 — $ 82,970 $ — $ 82,970 $ — Liabilities: Interest rate swaps $ 1,026 $ — $ 1,026 $ —

Share-Based Payments (Tables)

Share-Based Payments (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Nonvested Share Activity [Table Text Block]	The following table sets forth information with respect to nonvested options for the six month period ended June 30, 2016: Number of Shares Weighted Average Nonvested options – beginning of period 414,850 $ 6.86 Nonvested options granted 5,000 $ 6.50 Nonvested options vested or forfeited (20,350) $ 6.82 Nonvested options – end of period 399,500 $ 6.85
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes stock option information as of June 30, 2016: Shares Weighted Average Outstanding at January 1, 2016 709,300 $ 24.34 Options granted 5,000 26.40 Options cancelled (15,020) 27.30 Options exercised (21,050) 19.08 Outstanding at June 30, 2016 678,230 $ 24.45 Options exercisable 278,730 $ 22.13 Options available for future grants 188,065
Schedule of Cash Proceeds Received from Share-based Payment Awards [Table Text Block]	Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the six months ended June 30, 2016 and June 30, 2015 were as follows: (In thousands) June 30, June 30, Cash proceeds from stock options exercised $ 402 $ 428 Tax benefits -- -- Intrinsic value of stock options exercised 233 462
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The assumptions used in the Black-Scholes pricing model for the periods ended June 30, 2016 and 2015 are set forth in the following table: June 30, June 30, Weighted average expected stock-price volatility 33 % 34 % Weighted average expected option life 5 years 5 years Weighted average risk-free interest rate 1.42 % 1.28 % Weighted average dividend yield 2.2 % 1.8 %

Net Income Attributable to In21

Net Income Attributable to Inter Parfums, Inc. Common Shareholders (Tables)	6 Months Ended
	Jun. 30, 2016
Net Income Attributable to Inter Parfums, Inc. Common Shareholders [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows: Three months ended Six months ended (In thousands) June 30, June 30, 2016 2015 2016 2015 Numerator: Net income attributable to Inter Parfums, Inc. $ 5,831 $ 4,351 $ 13,165 $ 14,358 Denominator: Weighted average shares 31,055 30,988 31,047 30,984 Effect of dilutive securities: Stock options 83 119 74 105 Denominator for diluted earnings per share 31,138 31,107 31,121 31,089 Earnings per share: Net income attributable to Inter Parfums, Inc. common shareholders: Basic $ 0.19 $ 0.14 $ 0.42 $ 0.46 Diluted 0.19 0.14 0.42 0.46

Segment and Geographic Areas (T

Segment and Geographic Areas (Tables)	6 Months Ended
	Jun. 30, 2016
Segments and Geographic Areas [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Information on our operations by geographical areas is as follows: (In thousands) Three months ended Six months ended 2016 2015 2016 2015 Net sales: United States $ 28,561 $ 24,874 $ 47,946 $ 47,353 Europe 88,656 77,221 180,812 164,008 Eliminations (60) (74) (79) (91) $ 117,157 $ 102,021 $ 228,679 $ 211,270 Net income attributable to Inter Parfums, Inc.: United States $ 1,557 $ 1,241 $ 1,954 $ 2,349 Europe 4,274 3,110 11,211 12,009 $ 5,831 $ 4,351 $ 13,165 $ 14,358 June 30, December 31, 2016 2015 Total Assets: United States $ 95,382 $ 80,761 Europe 610,567 616,199 Eliminations of investment in subsidiary (9,188) (9,301) $ 696,761 $ 687,659

Settlement with French Tax Au23

Settlement with French Tax Authorities (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Aug. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Accrued Income Taxes, Current		$ 6,441	$ 7,359
Scenario, Forecast [Member]
Tax Adjustments, Settlements, and Unusual Provisions	$ 6,900
Settlement with Taxing Authority [Member]
Accrued Income Taxes, Current		$ 1,900

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Inventory [Line Items]
Raw materials and component parts	$ 39,065	$ 30,569
Finished goods	85,189	67,777
Inventories	$ 124,254	$ 98,346

Fair Value Measurement (Details

Fair Value Measurement (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets:
Short-term investments	$ 115,884	$ 82,847
Foreign currency forward exchange contracts not accounted for using hedge accounting		123
Total assets		82,970
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	57
Interest rate swaps	1,420	1,026
Liabilities, Fair Value Disclosure	1,477
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets:
Short-term investments	0	0
Foreign currency forward exchange contracts not accounted for using hedge accounting		0
Total assets		0
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	0
Interest rate swaps	0	0
Liabilities, Fair Value Disclosure	0
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Short-term investments	115,884	82,847
Foreign currency forward exchange contracts not accounted for using hedge accounting		123
Total assets		82,970
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	57
Interest rate swaps	1,420	1,026
Liabilities, Fair Value Disclosure	1,477
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Short-term investments	0	0
Foreign currency forward exchange contracts not accounted for using hedge accounting		0
Total assets		0
Liabilities:
Foreign currency forward exchange contracts not accounted for using hedge accounting	0
Interest rate swaps	0	$ 0
Liabilities, Fair Value Disclosure	$ 0

Derivative Financial Instrume26

Derivative Financial Instruments (Details Textual) ¥ in Millions, £ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2016GBP (£)	Jun. 30, 2016JPY (¥)
Foreign Exchange Contract [Member]
Derivative Financial Instruments [Line Items]
Maximum maturity period	1 year	1 year	1 year
Derivative, Gain (Loss) on Derivative, Net, Total	$ 13.6	£ 3.4	¥ 192
Interest Rate Swap [Member]
Derivative Financial Instruments [Line Items]
Derivative, Gain (Loss) on Derivative, Net, Total	$ 0.4
Rochas brand [Member] | Term Loan [Member]
Derivative Financial Instruments [Line Items]
Cash paid for acquisition and financed by loan, term	5 years	5 years	5 years
Rochas brand [Member] | Trademarks [Member] | Term Loan [Member]
Derivative Financial Instruments [Line Items]
Cash paid for acquisition and financed by loan, amount	$ 108
Rochas brand [Member] | Trademarks [Member] | Term Loan [Member] | Foreign Exchange Contract [Member]
Derivative Financial Instruments [Line Items]
Notional amount	$ 108
Exchange rate (dollar per euro)	1.067

Accrued Expenses (Details Textu

Accrued Expenses (Details Textual) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Accrued Advertising, Current	$ 14.1	$ 15.2

Share-Based Payments (Details)

Share-Based Payments (Details) - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Nonvested Options, Number of Shares
Beginning of period	414,850
Granted	5,000
Vested or forfeited	(20,350)
End of period	399,500
Weighted Average Grant Date Fair Value
Beginning of period	$ 6.86
Granted	6.5	$ 6.73
Vested or forfeited	6.82
End of period	$ 6.85

Share-Based Payments (Details 1

Share-Based Payments (Details 1)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Shares
Outstanding, beginning balance	709,300
Options granted	5,000
Options cancelled	(15,020)
Options exercised	(21,050)
Outstanding, ending balance	678,230
Options exercisable	278,730
Options available for future grants	188,065
Weighted Average Exercise Price
Outstanding, beginning balance | $ / shares	$ 24.34
Options granted | $ / shares	26.4
Options cancelled | $ / shares	27.3
Options exercised | $ / shares	19.08
Outstanding, ending balance | $ / shares	24.45
Options exercisable | $ / shares	$ 22.13

Share-Based Payments (Details 2

Share-Based Payments (Details 2) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash proceeds from stock options exercised	$ 402	$ 428
Tax benefits	0	0
Intrinsic value of stock options exercised	$ 233	$ 462

Share-Based Payments (Details 3

Share-Based Payments (Details 3)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected stock-price volatility	33.00%	34.00%
Weighted average expected option life	5 years	5 years
Weighted average risk-free interest rate	1.42%	1.28%
Weighted average dividend yield	2.20%	1.80%

Share-Based Payments (Details T

Share-Based Payments (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options, fair value of shares vested			$ 50	$ 30
Decrease in income before income tax due to share-based payment expense	$ 210	$ 200	420	390
Decrease in income attributable to Inter Parfums, Inc due to share-based payment expense	130	$ 120	$ 250	$ 240
Weighted average remaining contractual life of options outstanding			3 years 4 months 13 days
Weighted average remaining contractual life of options exercisable			2 years 4 months 6 days
Aggregate intrinsic value of options outstanding	3,700		$ 3,700
Aggregate intrinsic value of options exercisable	2,100		2,100
Unrecognized compensation cost related to stock options	$ 2,300		$ 2,300
Weighted average grant date fair value			$ 6.5	$ 6.73

Net Income Attributable to In33

Net Income Attributable to Inter Parfums, Inc. Common Shareholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net income attributable to Inter Parfums, Inc.	$ 5,831	$ 4,351	$ 13,165	$ 14,358
Denominator:
Weighted average shares	31,055	30,988	31,047	30,984
Effect of dilutive securities: Stock options	83	119	74	105
Denominator for diluted earnings per share	31,138	31,107	31,121	31,089
Earnings per share:
Basic	$ 0.19	$ 0.14	$ 0.42	$ 0.46
Diluted	$ 0.19	$ 0.14	$ 0.42	$ 0.46

Net Income Attributable to In34

Net Income Attributable to Inter Parfums, Inc. Common Shareholders (Details Textual) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	270	260	340	270

Segment and Geographic Areas (D

Segment and Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 117,157	$ 102,021	$ 228,679	$ 211,270
Net income attributable to Inter Parfums, Inc.	5,831	4,351	13,165	14,358
Total assets	696,761		696,761		$ 687,659
Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(60)	(74)	(79)	(91)
Total assets	(9,188)		(9,188)		(9,301)
United States [Member]
Segment Reporting Information [Line Items]
Net sales	28,561	24,874	47,946	47,353
Net income attributable to Inter Parfums, Inc.	1,557	1,241	1,954	2,349
Total assets	95,382		95,382		80,761
Europe [Member]
Segment Reporting Information [Line Items]
Net sales	88,656	77,221	180,812	164,008
Net income attributable to Inter Parfums, Inc.	4,274	$ 3,110	11,211	$ 12,009
Total assets	$ 610,567		$ 610,567		$ 616,199