Inter Parfums (IPAR) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 04, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		31,105,605

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 95,952	$ 176,967
Short-term investments	117,951	82,847
Accounts receivable, net	145,735	95,082
Inventories	105,304	98,346
Receivables, other	2,017	2,422
Other current assets	5,925	5,811
Income tax receivable	863	100
Deferred tax assets	9,804	7,182
Total current assets	483,551	468,757
Equipment and leasehold improvements, net	11,119	9,333
Trademarks, licenses and other intangible assets, net	202,308	201,335
Other assets	8,621	8,234
Total assets	705,599	687,659
Current liabilities:
Current portion of long-term debt	22,886	22,163
Accounts payable, trade	45,536	50,636
Accrued expenses	46,690	46,890
Income taxes payable	12,683	7,359
Dividends payable	4,665	4,035
Total current liabilities	132,460	131,083
Long-term debt, less current portion	61,858	76,443
Deferred tax liability	3,733	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 31,104,205 and 31,037,915 shares at September 30, 2016 and December 31, 2015, respectively	31	31
Additional paid-in capital	62,071	62,030
Retained earnings	403,858	388,434
Accumulated other comprehensive (loss)	(40,728)	(48,091)
Treasury stock, at cost, 9,880,058 common shares at September 30, 2016 and December 31, 2015, respectively	(36,817)	(36,817)
Total Inter Parfums, Inc. shareholders’ equity	388,415	365,587
Noncontrolling interest	119,133	110,800
Total equity	507,548	476,387
Total liabilities and equity	$ 705,599	$ 687,659

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 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	31,104,205	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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net sales	$ 157,622	$ 138,944	$ 386,301	$ 350,214
Cost of sales	62,790	53,118	145,723	136,453
Gross margin	94,832	85,826	240,578	213,761
Selling, general and administrative expenses	62,529	58,188	179,285	156,815
Income from operations	32,303	27,638	61,293	56,946
Other expenses (income):
Interest expense	515	1,041	2,181	1,811
(Gain) loss on foreign currency	334	(336)	388	1,751
Interest income	(765)	(857)	(2,722)	(2,829)
Other expenses (income)	84	(152)	(153)	733
Income before income taxes	32,219	27,790	61,446	56,213
Income taxes	10,740	9,156	22,790	18,754
Net income	21,479	18,634	38,656	37,459
Less: Net income attributable to the noncontrolling interest	5,240	4,414	9,252	8,881
Net income attributable to Inter Parfums, Inc.	$ 16,239	$ 14,220	$ 29,404	$ 28,578
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic	$ 0.52	$ 0.46	$ 0.95	$ 0.92
Diluted	$ 0.52	$ 0.46	$ 0.94	$ 0.92
Weighted average number of shares outstanding:
Basic	31,080	31,005	31,058	30,991
Diluted	31,171	31,098	31,138	31,092
Dividends declared per share	$ 0.15	$ 0.13	$ 0.45	$ 0.39

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Comprehensive income:
Net income	$ 21,479	$ 18,634	$ 38,656	$ 37,459
Other comprehensive income (loss):
Translation adjustments, net of tax	2,391	(442)	10,504	(33,031)
Comprehensive income	23,870	18,192	49,160	4,428
Comprehensive income (loss) attributable to the noncontrolling interests:
Net income	5,240	4,414	9,252	8,881
Translation adjustments, net of tax	698	14	3,141	(8,939)
Comprehensive income (loss) attributable to the noncontrolling interests	5,938	4,428	12,393	(58)
Comprehensive income attributable to Inter Parfums, Inc.	$ 17,932	$ 13,764	$ 36,767	$ 4,486

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	$ 37,459			28,578			8,881
Foreign currency translation adjustment	(33,031)				(24,092)		(8,939)
Shares issued upon exercise of stock options			451
Purchase of subsidiary shares from noncontrolling interests			0				0
Sale of subsidiary shares to noncontrolling interest			(6)				696
Stock-based compensation			590
Dividends				(12,089)			(3,836)
Balance at Sep. 30, 2015	488,958	$ 31	61,235	390,610	(39,915)	$ (36,464)	113,461
Balance at Dec. 31, 2015	476,387		62,030	388,434	(48,091)		110,800
Net income	38,656			29,404			9,252
Foreign currency translation adjustment	10,504				7,363		3,141
Shares issued upon exercise of stock options			1,235
Purchase of subsidiary shares from noncontrolling interests			(1,670)				(800)
Sale of subsidiary shares to noncontrolling interest			(154)				1,603
Stock-based compensation			630
Dividends				(13,980)			(4,863)
Balance at Sep. 30, 2016	$ 507,548	$ 31	$ 62,071	$ 403,858	$ (40,728)	$ (36,817)	$ 119,133

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 38,656	$ 37,459
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	7,113	6,718
Provision for doubtful accounts	231	39
Noncash stock compensation	706	590
Deferred tax benefit	(2,556)	(508)
Change in fair value of derivatives	314	670
Changes in:
Accounts receivable	(48,735)	(44,778)
Inventories	(4,979)	(10,737)
Other assets	71	(2,106)
Accounts payable and accrued expenses	(7,784)	(6,189)
Income taxes, net	4,391	6,346
Net cash used in operating activities	(12,572)	(12,496)
Cash flows from investing activities:
Purchases of short-term investments	(48,629)	(56,216)
Proceeds from sale of short-term investments	15,621	141,009
Purchases of equipment and leasehold improvements	(4,260)	(2,500)
Payment for intangible assets acquired	(642)	(119,541)
Net cash used in investing activities	(37,910)	(37,248)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	0	111,440
Repayments of long-term debt	(16,567)	(6,404)
Proceeds from exercise of options	1,235	451
Proceeds from sale of stock of subsidiary	1,449	690
Dividends paid	(13,349)	(11,775)
Dividends paid to noncontrolling interest	(4,863)	(3,836)
Purchase of stock of subsidiary	(2,470)	0
Net cash provided by (used in) financing activities	(34,565)	90,566
Effect of exchange rate changes on cash	4,032	(6,431)
Net increase (decrease) in cash and cash equivalents	(81,015)	34,391
Cash and cash equivalents - beginning of period	176,967	90,138
Cash and cash equivalents - end of period	95,952	124,529
Cash paid for:
Interest	1,758	1,688
Income taxes	$ 18,881	$ 16,692

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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, the Company’s majority owned Paris based subsidiary, and in August 2015 issued a $ 6.9 1.9

License Renewal

License Renewal	9 Months Ended
	Sep. 30, 2016
License Renewal Agreement [Abstract]
License Renewal Agreement Disclosure [Text Block]	License Renewal: In September 2016, the Company, through its majority owned Paris based subsidiary, Interparfums SA, renewed its license agreement for an additional three 11

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Recent Accounting Pronouncements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Recent Accounting Pronouncements: In August 2016, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) to eliminate the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows, by adding or clarifying guidance on eight specific cash flow issues. This ASU is effective for annual and interim periods beginning after December 15, 2017 and early adoption is permitted. We have evaluated the standard and determined that there will be no material impact on our consolidated financial statements. 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	9 Months Ended
	Sep. 30, 2016
Inventories [Abstract]
Inventory Disclosure [Text Block]	5. Inventories: (In thousands) September 30, December 31, 2015 Raw materials and component parts $ 28,498 $ 30,569 Finished goods 76,806 67,777 $ 105,304 $ 98,346

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2016
Fair Value of Financial Instruments [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurement: (In thousands) Fair Value Measurements at September 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 $ 117,951 $ — $ 117,951 $ — Foreign currency forward 86 — 86 — $ 118,038 $ — $ 118,038 $ — Liabilities: Interest rate swaps $ 1,260 $ — $ 1,260 $ — 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 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	9 Months Ended
	Sep. 30, 2016
Derivative Financial Instruments [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	7. Derivative Financial Instruments: The Company enters into foreign currency forward exchange contracts to hedge exposure related to receivables or payables 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 nine months ended September 30, 2016 and 2015. For the nine months ended September 30, 2016, interest expense includes a loss of $ 0.2 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 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 change in fair value of the derivative instrument is recorded as a separate component of shareholders’ equity. At September 30, 2016, we had foreign currency contracts in the form of forward exchange contracts in the amount of approximately U.S. $ 16.9 7.2 80

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2016
Accrued Expenses [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. Accrued Expenses: Accrued expenses include approximately $ 14.1 15.2

Share-Based Payments

Share-Based Payments	9 Months Ended
	Sep. 30, 2016
Share-Based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. 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 both the nine months ended September 30, 2016 and 2015 aggregated $ 0.05 0.03 The following table sets forth information with respect to nonvested options for the nine month period ended September 30, 2016: Weighted Average Grant Date Fair Number of Shares Value Nonvested options – beginning of period 414,850 $ 6.86 Nonvested options granted 5,000 $ 6.50 Nonvested options vested or forfeited (26,770) $ 6.82 Nonvested options – end of period 393,080 $ 6.85 Share-based payment expense decreased income before income taxes by $ 0.28 0.70 0.20 0.59 0.16 0.42 0.12 0.35 The following table summarizes stock option information as of September 30, 2016: Shares Weighted Average Exercise Price Outstanding at January 1, 2016 709,300 $ 24.34 Options granted 5,000 26.40 Options cancelled (22,250) 27.21 Options exercised (66,290) 18.62 Outstanding at September 30, 2016 625,760 $ 24.86 Options exercisable 232,680 $ 22.81 Options available for future grants 195,295 As of September 30, 2016, the weighted average remaining contractual life of options outstanding is 3.27 2.04 5.1 2.4 2.1 Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2016 and September 30, 2015 were as follows: September 30, September 30, (In thousands) 2016 2015 Cash proceeds from stock options exercised $ 1,235 $ 451 Tax benefits – – Intrinsic value of stock options exercised 947 482 The weighted average fair values of the options granted by Inter Parfums, Inc. during the nine months ended September 30, 2016 and 2015 were $ 6.50 6.73 The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2016 and 2015 are set forth in the following table: September 30, September 30, 2016 2015 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. In September 2016, Interparfums SA, approved a plan to grant an aggregate of 15,100 133,000 The fair value of the grant of € 22.46 25.00 137,381 3.1 3.4 0.1 To avoid dilution of the Company’s ownership of Interparfums SA,, all shares to be distributed pursuant to this plan will be pre-existing shares of Interparfums SA, purchased in the open market by Interparfums SA. As of September 30, 2016, a total of 90,524 2.47

Net Income Attributable to Inte

Net Income Attributable to Inter Parfums, Inc. Common Shareholders	9 Months Ended
	Sep. 30, 2016
Net Income Attributable to Inter Parfums, Inc. Common Shareholders [Abstract]
Earnings Per Share [Text Block]	10. 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. Three months ended Nine months ended (In thousands) September 30, September 30, 2016 2015 2016 2015 Numerator: Net income attributable to Inter Parfums, Inc. $ 16,239 $ 14,220 $ 29,404 $ 28,578 Denominator: Weighted average shares 31,080 31,005 31,058 30,991 Effect of dilutive securities: Stock options 91 93 80 101 Denominator for diluted 31,171 31,098 31,138 31,092 Earnings per share: Net income attributable to Inter Parfums, Inc. Basic $ 0.52 $ 0.46 $ 0.95 $ 0.92 Diluted 0.52 0.46 0.94 0.92 N ot included in the above computations is the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.31 0.27 0.25 0.27

Segment and Geographic Areas

Segment and Geographic Areas	9 Months Ended
	Sep. 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. Three months ended Nine months ended (In thousands) September 30, September 30, 2016 2015 2016 2015 Net sales: United States $ 34,251 $ 28,770 $ 82,197 $ 76,123 Europe 123,405 110,204 304,217 274,212 Eliminations (34) (30) (113) (121) $ 157,622 $ 138,944 $ 386,301 $ 350,214 Net income attributable to Inter Parfums, Inc.: United States $ 2,850 $ 2,537 $ 4,804 $ 4,886 Europe 13,389 11,683 24,600 23,692 $ 16,239 $ 14,220 $ 29,404 $ 28,578 September 30, December 31, 2016 2015 Total Assets: United States $ 92,133 $ 80,761 Europe 622,606 616,199 Eliminations of investment in subsidiary (9,140) (9,301) $ 705,599 $ 687,659

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Inventories [Abstract]
Schedule of Inventory, Current [Table Text Block]	(In thousands) September 30, December 31, 2015 Raw materials and component parts $ 28,498 $ 30,569 Finished goods 76,806 67,777 $ 105,304 $ 98,346

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 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 September 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 $ 117,951 $ — $ 117,951 $ — Foreign currency forward 86 — 86 — $ 118,038 $ — $ 118,038 $ — Liabilities: Interest rate swaps $ 1,260 $ — $ 1,260 $ — 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 123 — 123 — $ 82,970 $ — $ 82,970 $ — Liabilities: Interest rate swaps $ 1,026 $ — $ 1,026 $ —

Share-Based Payments (Tables)

Share-Based Payments (Tables)	9 Months Ended
	Sep. 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 nine month period ended September 30, 2016: Weighted Average Grant Date Fair Number of Shares Value Nonvested options – beginning of period 414,850 $ 6.86 Nonvested options granted 5,000 $ 6.50 Nonvested options vested or forfeited (26,770) $ 6.82 Nonvested options – end of period 393,080 $ 6.85
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes stock option information as of September 30, 2016: Shares Weighted Average Exercise Price Outstanding at January 1, 2016 709,300 $ 24.34 Options granted 5,000 26.40 Options cancelled (22,250) 27.21 Options exercised (66,290) 18.62 Outstanding at September 30, 2016 625,760 $ 24.86 Options exercisable 232,680 $ 22.81 Options available for future grants 195,295
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 nine months ended September 30, 2016 and September 30, 2015 were as follows: September 30, September 30, (In thousands) 2016 2015 Cash proceeds from stock options exercised $ 1,235 $ 451 Tax benefits – – Intrinsic value of stock options exercised 947 482
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 September 30, 2016 and 2015 are set forth in the following table: September 30, September 30, 2016 2015 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 In22

Net Income Attributable to Inter Parfums, Inc. Common Shareholders (Tables)	9 Months Ended
	Sep. 30, 2016
Net Income Attributable to Inter Parfums, Inc. Common Shareholders [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Nine months ended (In thousands) September 30, September 30, 2016 2015 2016 2015 Numerator: Net income attributable to Inter Parfums, Inc. $ 16,239 $ 14,220 $ 29,404 $ 28,578 Denominator: Weighted average shares 31,080 31,005 31,058 30,991 Effect of dilutive securities: Stock options 91 93 80 101 Denominator for diluted 31,171 31,098 31,138 31,092 Earnings per share: Net income attributable to Inter Parfums, Inc. Basic $ 0.52 $ 0.46 $ 0.95 $ 0.92 Diluted 0.52 0.46 0.94 0.92

Segment and Geographic Areas (T

Segment and Geographic Areas (Tables)	9 Months Ended
	Sep. 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: Three months ended Nine months ended (In thousands) September 30, September 30, 2016 2015 2016 2015 Net sales: United States $ 34,251 $ 28,770 $ 82,197 $ 76,123 Europe 123,405 110,204 304,217 274,212 Eliminations (34) (30) (113) (121) $ 157,622 $ 138,944 $ 386,301 $ 350,214 Net income attributable to Inter Parfums, Inc.: United States $ 2,850 $ 2,537 $ 4,804 $ 4,886 Europe 13,389 11,683 24,600 23,692 $ 16,239 $ 14,220 $ 29,404 $ 28,578 September 30, December 31, 2016 2015 Total Assets: United States $ 92,133 $ 80,761 Europe 622,606 616,199 Eliminations of investment in subsidiary (9,140) (9,301) $ 705,599 $ 687,659

Settlement with French Tax Au24

Settlement with French Tax Authorities (Details Textual) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Jul. 31, 2016	Aug. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Tax Adjustments, Settlements, and Unusual Provisions		$ 6,900
Accrued Income Taxes, Current			$ 12,683		$ 12,683		$ 7,359
Income Tax Expense (Benefit)			10,740	$ 9,156	22,790	$ 18,754
Settlement with Taxing Authority [Member]
Accrued Income Taxes, Current			$ 1,900		$ 1,900
French Tax Authorities [Member]
Income Tax Expense (Benefit)	$ 1,100

License Renewal (Detail Textual

License Renewal (Detail Textual)	9 Months Ended
	Sep. 30, 2016
Renewal of License Agreement Term, Years	3 years
Initial License Agreement Term	11 years

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventory [Line Items]
Raw materials and component parts	$ 28,498	$ 30,569
Finished goods	76,806	67,777
Inventories	$ 105,304	$ 98,346

Fair Value Measurement (Details

Fair Value Measurement (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets:
Short-term investments	$ 117,951	$ 82,847
Foreign currency forward exchange contracts not accounted for using hedge accounting	86	123
Total assets	118,038	82,970
Liabilities:
Interest rate swaps	1,260	1,026
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	0
Total assets	0	0
Liabilities:
Interest rate swaps	0	0
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Short-term investments	117,951	82,847
Foreign currency forward exchange contracts not accounted for using hedge accounting	86	123
Total assets	118,038	82,970
Liabilities:
Interest rate swaps	1,260	1,026
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Short-term investments	0	0
Foreign currency forward exchange contracts not accounted for using hedge accounting	0	0
Total assets	0	0
Liabilities:
Interest rate swaps	$ 0	$ 0

Derivative Financial Instrume28

Derivative Financial Instruments (Details Textual) ¥ in Millions, £ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016GBP (£)	Sep. 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	$ 16.9	£ 7.2	¥ 80
Interest Rate Swap [Member]
Derivative Financial Instruments [Line Items]
Derivative, Gain (Loss) on Derivative, Net, Total	$ 0.2
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	Sep. 30, 2016	Dec. 31, 2015
Accrued Advertising, Current	$ 14.1	$ 15.2

Share-Based Payments (Details)

Share-Based Payments (Details) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Nonvested Options, Number of Shares
Beginning of period	414,850
Granted	5,000
Vested or forfeited	(26,770)
End of period	393,080
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)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Shares
Outstanding, beginning balance	709,300
Options granted	5,000
Options cancelled	(22,250)
Options exercised	(66,290)
Outstanding, ending balance	625,760
Options exercisable	232,680
Options available for future grants	195,295
Weighted Average Exercise Price
Outstanding, beginning balance | $ / shares	$ 24.34
Options granted | $ / shares	26.4
Options cancelled | $ / shares	27.21
Options exercised | $ / shares	18.62
Outstanding, ending balance | $ / shares	24.86
Options exercisable | $ / shares	$ 22.81

Share-Based Payments (Details 2

Share-Based Payments (Details 2) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash proceeds from stock options exercised	$ 1,235	$ 451
Tax benefits	0	0
Intrinsic value of stock options exercised	$ 947	$ 482

Share-Based Payments (Details 3

Share-Based Payments (Details 3)	9 Months Ended
	Sep. 30, 2016	Sep. 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) € / shares in Units, $ / shares in Units, $ in Thousands, € in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2016EUR (€)€ / sharesshares	Sep. 30, 2015USD ($)$ / shares
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	$ 280	$ 200	700		590
Decrease in income attributable to Inter Parfums, Inc due to share-based payment expense	160	$ 120	$ 420		$ 350
Weighted average remaining contractual life of options outstanding			3 years 3 months 7 days	3 years 3 months 7 days
Weighted average remaining contractual life of options exercisable			2 years 14 days	2 years 14 days
Aggregate intrinsic value of options outstanding	5,100		$ 5,100
Aggregate intrinsic value of options exercisable	2,400		2,400
Unrecognized compensation cost related to stock options	2,100		$ 2,100
Weighted average grant date fair value | $ / shares			$ 6.5		$ 6.73
Interparfums SA [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Decrease in income before income tax due to share-based payment expense	$ 100
Weighted average grant date fair value | (per share)			$ 25	€ 22.46
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period			3 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | shares			90,524	90,524
Share-based Compensation Arrangement by Share-based Payment Award, Value, Shares Purchased for Award			$ 2,470
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares	137,381		137,381
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost			$ 3,400	€ 3.1
Interparfums SA [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares	15,100		15,100
Interparfums SA [Member] | Officers And Managers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares	133,000		133,000

Net Income Attributable to In35

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, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net income attributable to Inter Parfums, Inc.	$ 16,239	$ 14,220	$ 29,404	$ 28,578
Denominator:
Weighted average shares	31,080	31,005	31,058	30,991
Effect of dilutive securities: Stock options	91	93	80	101
Denominator for diluted earnings per share	31,171	31,098	31,138	31,092
Earnings per share:
Basic	$ 0.52	$ 0.46	$ 0.95	$ 0.92
Diluted	$ 0.52	$ 0.46	$ 0.94	$ 0.92

Net Income Attributable to In36

Net Income Attributable to Inter Parfums, Inc. Common Shareholders (Details Textual) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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	250	270	310	270

Segment and Geographic Areas (D

Segment and Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 157,622	$ 138,944	$ 386,301	$ 350,214
Net income attributable to Inter Parfums, Inc.	16,239	14,220	29,404	28,578
Total assets	705,599		705,599		$ 687,659
Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(34)	(30)	(113)	(121)
Total assets	(9,140)		(9,140)		(9,301)
United States [Member]
Segment Reporting Information [Line Items]
Net sales	34,251	28,770	82,197	76,123
Net income attributable to Inter Parfums, Inc.	2,850	2,537	4,804	4,886
Total assets	92,133		92,133		80,761
Europe [Member]
Segment Reporting Information [Line Items]
Net sales	123,405	110,204	304,217	274,212
Net income attributable to Inter Parfums, Inc.	13,389	$ 11,683	24,600	$ 23,692
Total assets	$ 622,606		$ 622,606		$ 616,199