Inter Parfums (IPAR) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
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		31,168,288

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 109,829	$ 161,828
Short-term investments	115,674	94,202
Accounts receivable, net	139,877	104,819
Inventories	111,319	96,977
Receivables, other	8,233	7,433
Other current assets	7,289	6,240
Income taxes receivable	360	626
Total current assets	492,581	472,125
Equipment and leasehold improvements, net	9,771	10,076
Trademarks, licenses and other intangible assets, net	184,991	183,868
Deferred tax assets	8,768	8,090
Other assets	7,994	8,250
Total assets	704,105	682,409
Current liabilities:
Current portion of long-term debt	21,833	21,498
Accounts payable - trade	60,182	49,507
Accrued expenses	53,057	62,609
Income taxes payable	8,015	3,331
Dividends payable	5,299	5,293
Total current liabilities	148,386	142,238
Long term debt, less current portion	48,338	53,064
Deferred tax liability	3,656	3,449
Equity:
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 31,168,108 and 31,138,318 shares at March 31, 2017 and December 31, 2016, respectively	31	31
Additional paid-in capital	63,879	63,103
Retained earnings	410,957	402,714
Accumulated other comprehensive loss	(53,413)	(57,982)
Treasury stock, at cost, 9,864,805 shares at March 31, 2017 and December 31, 2016	(37,475)	(37,475)
Total Inter Parfums, Inc. shareholders’ equity	383,979	370,391
Noncontrolling interest	119,746	113,267
Total equity	503,725	483,658
Total liabilities and equity	$ 704,105	$ 682,409

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
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	31,168,108	31,138,318
Treasury shares, shares	9,864,805	9,864,805

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 143,058	$ 111,522
Cost of sales	52,988	40,205
Gross margin	90,070	71,317
Selling, general and administrative expenses	63,899	53,786
Income from operations	26,171	17,531
Other expenses (income):
Interest expense	271	973
Loss on foreign currency	156	714
Interest and dividend income	(1,272)	(1,354)
Other expenses (income)	(845)	333
Income before income taxes	27,016	17,198
Income taxes	8,849	7,750
Net income	18,167	9,448
Less: Net income attributable to the noncontrolling interest	4,794	2,114
Net income attributable to Inter Parfums, Inc.	$ 13,373	$ 7,334
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic	$ 0.43	$ 0.24
Diluted	$ 0.43	$ 0.24
Weighted average number of shares outstanding:
Basic	31,145	31,039
Diluted	31,254	31,115
Dividends declared per share	$ 0.17	$ 0.15

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Comprehensive income:
Net income	$ 18,167	$ 9,448
Other comprehensive income:
Net derivative instrument loss, net of tax	342	0
Transfer from other comprehensive income into earnings	22	0
Foreign currency translation adjustment, net of tax	5,769	18,892
Comprehensive income	24,300	28,340
Comprehensive income attributable to the noncontrolling interests:
Net income	4,794	2,114
Other comprehensive income:
Net derivative instrument loss, net of tax	96	0
Transfer from other comprehensive income into earnings	5	0
Translation adjustments, net of tax	1,463	5,249
Comprehensive income attributable to the noncontrolling interests	6,358	7,363
Comprehensive income attributable to Inter Parfums, Inc.	$ 17,942	$ 20,977

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 loss [Member]	Treasury stock [Member]	Noncontrolling interest [Member]
Balance at Dec. 31, 2015			$ 62,030	$ 388,434	$ (48,091)	$ (36,817)	$ 110,800
Shares issued upon exercise of stock options			132
Sale of subsidiary shares to noncontrolling interest			(13)				156
Net income	$ 9,448			7,334			2,114
Dividends				(4,656)
Stock-based compensation			212	0			0
Foreign currency translation adjustment, net of tax	18,892				13,643		5,249
Transfer from other comprehensive income into earnings					0		0
Net derivative instrument gain, net of tax					0		0
Balance at Mar. 31, 2016	500,558	$ 31	62,361	391,112	(34,448)		118,319
Balance at Dec. 31, 2016	483,658		63,103	402,714	(57,982)	$ (37,475)	113,267
Shares issued upon exercise of stock options			542
Sale of subsidiary shares to noncontrolling interest			0				0
Net income	18,167			13,373			4,794
Dividends				(5,299)
Stock-based compensation			234	169			121
Foreign currency translation adjustment, net of tax	5,769				4,306		1,463
Transfer from other comprehensive income into earnings					17		5
Net derivative instrument gain, net of tax					246		96
Balance at Mar. 31, 2017	$ 503,725	$ 31	$ 63,879	$ 410,957	$ (53,413)		$ 119,746

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 18,167	$ 9,448
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	2,619	2,338
Provision for doubtful accounts	225	15
Noncash stock compensation	507	212
Deferred tax benefit	(406)	(674)
Change in fair value of derivatives	(285)	(87)
Changes in:
Accounts receivable	(33,983)	(8,694)
Inventories	(13,274)	(10,763)
Other assets	(743)	340
Accounts payable and accrued expenses	(563)	(9,109)
Income taxes, net	4,733	4,581
Net cash used in operating activities	(23,003)	(12,393)
Cash flows from investing activities:
Purchases of short-term investments	(24,310)	(14,336)
Proceeds from sale of short-term investments	4,259	5,510
Purchases of equipment and leasehold improvements	(729)	(1,422)
Payment for intangible assets acquired	(129)	(111)
Net cash used in investing activities	(20,909)	(10,359)
Cash flows from financing activities:
Repayment of long-term debt	(5,250)	(5,479)
Proceeds from exercise of options	542	132
Proceeds from sale of stock of subsidiary	0	143
Dividends paid	(5,293)	(4,035)
Net cash used in financing activities	(10,001)	(9,239)
Effect of exchange rate changes on cash	1,914	6,486
Net decrease in cash and cash equivalents	(51,999)	(25,505)
Cash and cash equivalents - beginning of period	161,828	176,967
Cash and cash equivalents - end of period	109,829	151,462
Cash paid for:
Interest	492	560
Income taxes	$ 4,576	$ 3,782

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Significant 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, 2016. 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	3 Months Ended
	Mar. 31, 2017
Recent Accounting Pronouncements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	2. 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 FASB issued ASU 2016-09 which simplifies several aspects of the accounting for share-based payments, including the income tax consequences and classification 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 Company elected to early adopt ASU 2016-09 in the fourth quarter of 2016 which required us to reflect any adjustments as of January 1, 2016, the beginning of the annual period that includes the interim period of adoption. Prior periods were not adjusted. Under previous guidance, excess tax benefits and certain tax deficiencies from share-based compensation arrangements were recorded in additional paid-in capital when the awards vested or were settled. ASU 2016-09 requires that all excess tax benefits and all tax deficiencies be recognized as income tax expense or benefit in the income statement and adoption is on a prospective basis. Additionally, as permitted by ASU 2016-09, the Company has elected to continue to estimate the number of stock-based awards expected to vest, rather than electing to account for forfeitures as they occur. Excess tax benefits are required to be prospectively excluded from assumed future proceeds in the calculation of diluted shares under the adoption of ASU 2016-09. As a result of the adoption, the Company’s diluted weighted average number of common shares outstanding as of March 31, 2016 increased from 31,104,495 31,114,894 In addition, under ASU 2016-09, excess tax benefits from stock-based compensation arrangements are classified in cash flows from operations, rather than inflow within financing activities and outflow within operating activities. The Company has applied the cash flow classification guidance prospectively. 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. The Company has adopted the standard retrospectively, which resulted in reclassifications among accounts on the consolidated balance sheet, but had no other impacts on our results of operations, financial condition or cash flows. The effect of the adoption on prior periods was a reclassification from current assets to noncurrent assets of approximately $ 8 In July 2015, the FASB issued an ASU modifying the accounting for inventory. Under this ASU, the measurement principle for inventory changed 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 beginning after December 15, 2016. As of January 1, 2017, we adopted the provisions of this ASU and there was no material impact on our consolidated financial statements. In May 2014, the FASB issued an ASU which superseded the then most current revenue recognition requirements. This 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. The new standard also includes enhanced disclosure requirements. 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	3 Months Ended
	Mar. 31, 2017
Inventories [Abstract]
Inventory Disclosure [Text Block]	3. Inventories: (In thousands) March 31, December 31, 2017 2016 Raw materials and component parts $ 38,630 $ 36,821 Finished goods 72,689 60,156 $ 111,319 $ 96,977

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2017
Fair Value of Financial Instruments [Abstract]
Fair Value Disclosures [Text Block]	4. Fair Value Measurement: Fair Value Measurements at March 31, 2017 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 $ 115,674 $ — $ 115,674 $ — Foreign currency forward exchange contracts not accounted for using hedge accounting 6 6 Foreign currency forward exchange contracts accounted for using hedge accounting 493 — 493 — $ 116,173 $ — $ 116,173 $ — Liabilities: Interest rate swap $ 743 $ — $ 743 $ — Fair Value Measurements at December 31, 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 $ 94,202 $ — $ 94,202 $ — Liabilities: Foreign currency forward exchange contracts accounted for using hedge accounting $ 181 $ — $ 181 $ — Foreign currency forward exchange contracts not accounted for using hedge accounting 418 — 418 — Interest rate swap 908 — 908 — $ 1,507 $ — $ 1,507 $ — The carrying amount of cash and cash equivalents including money market funds, short-term investments, accounts receivable, other receivables, accounts payable and accrued expenses approximates fair value due to the short terms to maturity of these instruments. The carrying amount of loans payable approximates fair value as the interest rates on the Company’s indebtedness approximate current market rates. Foreign currency forward exchange contracts are valued based on quotations from financial institutions and the value of interest rate swaps are the discounted net present value of the swaps using third party quotes from financial institutions.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2017
Derivative Financial Instruments [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	5. 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. Before entering into a derivative transaction for hedging purposes, it is determined that a high degree of initial effectiveness exists between the change in value of the hedged item and the change in the value of the derivative instrument from movement in exchange rates. High effectiveness means that the change in the cash flows of the derivative instrument will effectively offset the change in the cash flows of the hedged item. The effectiveness of each hedged item is measured throughout the hedged period and is based on the dollar offset methodology and excludes the portion of the fair value of the foreign currency forward exchange contract attributable to the change in spot-forward difference which is reported in current period earnings. Any hedge ineffectiveness is also recognized as a gain or loss on foreign currency in the income statement. For hedge contracts that are no longer deemed highly effective, hedge accounting is discontinued and gains and losses accumulated in other comprehensive income are reclassified to earnings. If it is probable that the forecasted transaction will no longer occur, then any gains or losses accumulated in other comprehensive income are reclassified to current-period earnings. In connection with the Rochas brand acquisition, $ 108 5 108 1.067 Gains and losses in derivatives designated as hedges are accumulated in other comprehensive income (loss) and gains and losses in derivatives not designated as hedges are included in (gain) loss on foreign currency on the accompanying income statements. Such gains and losses were immaterial for both three month periods ended March 31, 2017 and 2016. For the three months ended March 31, 2017 and 2016, interest expense includes a gain (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 at March 31, 2017, resulted in an asset and is included in other current assets on the accompanying balance sheet. At March 31, 2017, we had foreign currency contracts in the form of forward exchange contracts in the amount of approximately U.S. $ 68.4 1.2 150.0

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2017
Accrued Expenses [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	6. Accrued Expenses: Accrued expenses include approximately $ 14.8 27.2

Share-Based Payments

Share-Based Payments	3 Months Ended
	Mar. 31, 2017
Share-Based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	7. Share-Based Payments: The Company maintains a stock option program for key employees, executives and directors. The plans, all of which have been approved by shareholder vote, provide for the granting of both nonqualified and incentive options. Options granted under the plans typically have a six-year term and vest over a four to five-year period. The fair value of shares vested during both the three months ended March 31, 2017 and 2016 aggregated $ 0.05 Weighted Average Grant Number of Shares Date Fair Value Nonvested options – beginning of period 401,440 $ 7.14 Nonvested options granted 5,000 $ 7.67 Nonvested options vested or forfeited (11,825) $ 6.90 Nonvested options – end of period 394,615 $ 7.15 Share-based payment expense decreased income before income taxes by $ 0.51 0.21 0.32 0.13 Weighted Average Shares Exercise Price Outstanding at January 1, 2017 684,540 $ 26.94 Options granted 5,000 33.95 Options forfeited (5,500) 29.89 Options exercised (29,790) 18.18 Outstanding at March 31, 2017 654,250 $ 27.37 Options exercisable 259,635 $ 24.91 Options available for future grants 1,080,155 As of March 31, 2017, the weighted average remaining contractual life of options outstanding is 3.70 2.46 6.0 3.0 2.6 March 31, March 31, (In thousands) 2017 2016 Cash proceeds from stock options exercised $ 542 $ 132 Tax benefits 135 — Intrinsic value of stock options exercised 549 80 The weighted average fair values of the options granted by Inter Parfums, Inc. during the three months ended March 31, 2017 and 2016 were $ 7.67 6.50 March 31, March 31, 2017 2016 Weighted average expected stock-price volatility 29 % 33 % Weighted average expected option life 5 years 5 years Weighted average risk-free interest rate 2.0 % 1.42 % Weighted average dividend yield 2.1 % 2.2 % Expected volatility is estimated based on historic volatility of the Company’s common stock. The expected term of the option is estimated based on historic data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant of the option and the dividend yield reflects the assumption that the dividend payout as authorized by the Board of Directors would increase as the earnings of the Company and its stock price continue to increase. In September 2016, Interparfums SA, our 73 15,100 133,000 The fair value of the grant of € 22.46 25.00 137,381 3.1 3.4 0.3 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 December 31, 2016, 108,348 2.9

Net Income Attributable to Inte

Net Income Attributable to Inter Parfums, Inc. Common Shareholders	3 Months Ended
	Mar. 31, 2017
Net Income Attributable to Inter Parfums, Inc. Common Shareholders [Abstract]
Earnings Per Share [Text Block]	8. 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 (In thousands, except per share data) March 31, 2017 2016 Numerator: Net income attributable to Inter Parfums, Inc. $ 13,373 $ 7,334 Denominator: Weighted average shares 31,145 31,039 Effect of dilutive securities: Stock options 109 76 Denominator for diluted earnings per share 31,254 31,115 Earnings per share: Net income attributable to Inter Parfums, Inc. common shareholders: Basic $ 0.43 $ 0.24 Diluted 0.43 0.24 Not included in the above computations is the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.26 0.42

Segments and Geographic Areas

Segments and Geographic Areas	3 Months Ended
	Mar. 31, 2017
Segments and Geographic Areas [Abstract]
Segment Reporting Disclosure [Text Block]	9. 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 name and specialty retail fragrance. Information on our operations by geographical areas is as follows: Three months ended (In thousands) March 31, 2017 2016 Net sales: United States $ 23,689 $ 19,385 Europe 119,727 92,156 Eliminations (358) (19) $ 143,058 $ 111,522 Net income attributable to Inter Parfums, Inc.: United States $ 872 $ 397 Europe 12,501 6,937 $ 13,373 $ 7,334 March 31, March 31, 2017 2016 Total Assets: United States $ 86,007 $ 80,120 Europe 627,651 641,186 Eliminations of investment in subsidiary (9,553) (9,229) $ 704,105 $ 712,077

Other Matters

Other Matters	3 Months Ended
	Mar. 31, 2017
Other Matters Disclosure [Abstract]
Other Matters Disclosure [Text Block]	10. Other Matters Buyout of License: In December 2016, the Company reached an agreement with the Balmain brand calling for Balmain to buyout the Balmain license agreement, effective December 31, 2016, in exchange for a payment aggregating $ 5.7 4.7 1.4 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

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Inventories [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following: (In thousands) March 31, December 31, 2017 2016 Raw materials and component parts $ 38,630 $ 36,821 Finished goods 72,689 60,156 $ 111,319 $ 96,977

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2017
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. Fair Value Measurements at March 31, 2017 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 $ 115,674 $ — $ 115,674 $ — Foreign currency forward exchange contracts not accounted for using hedge accounting 6 6 Foreign currency forward exchange contracts accounted for using hedge accounting 493 — 493 — $ 116,173 $ — $ 116,173 $ — Liabilities: Interest rate swap $ 743 $ — $ 743 $ — Fair Value Measurements at December 31, 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 $ 94,202 $ — $ 94,202 $ — Liabilities: Foreign currency forward exchange contracts accounted for using hedge accounting $ 181 $ — $ 181 $ — Foreign currency forward exchange contracts not accounted for using hedge accounting 418 — 418 — Interest rate swap 908 — 908 — $ 1,507 $ — $ 1,507 $ —

Share-Based Payments (Tables)

Share-Based Payments (Tables)	3 Months Ended
	Mar. 31, 2017
Share-Based Payments [Abstract]
Schedule of Nonvested Share Activity [Table Text Block]	The following table sets forth information with respect to nonvested options for the three month period ended March 31, 2017: Weighted Average Grant Number of Shares Date Fair Value Nonvested options – beginning of period 401,440 $ 7.14 Nonvested options granted 5,000 $ 7.67 Nonvested options vested or forfeited (11,825) $ 6.90 Nonvested options – end of period 394,615 $ 7.15
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes stock option information as of March 31, 2017: Weighted Average Shares Exercise Price Outstanding at January 1, 2017 684,540 $ 26.94 Options granted 5,000 33.95 Options forfeited (5,500) 29.89 Options exercised (29,790) 18.18 Outstanding at March 31, 2017 654,250 $ 27.37 Options exercisable 259,635 $ 24.91 Options available for future grants 1,080,155
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 three months ended March 31, 2017 and March 31, 2016 were as follows: March 31, March 31, (In thousands) 2017 2016 Cash proceeds from stock options exercised $ 542 $ 132 Tax benefits 135 — Intrinsic value of stock options exercised 549 80
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 March 31, 2017 and 2016 are set forth in the following table: March 31, March 31, 2017 2016 Weighted average expected stock-price volatility 29 % 33 % Weighted average expected option life 5 years 5 years Weighted average risk-free interest rate 2.0 % 1.42 % Weighted average dividend yield 2.1 % 2.2 %

Net Income Attributable to In21

Net Income Attributable to Inter Parfums, Inc. Common Shareholders: (Tables)	3 Months Ended
	Mar. 31, 2017
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 (In thousands, except per share data) March 31, 2017 2016 Numerator: Net income attributable to Inter Parfums, Inc. $ 13,373 $ 7,334 Denominator: Weighted average shares 31,145 31,039 Effect of dilutive securities: Stock options 109 76 Denominator for diluted earnings per share 31,254 31,115 Earnings per share: Net income attributable to Inter Parfums, Inc. common shareholders: Basic $ 0.43 $ 0.24 Diluted 0.43 0.24

Segments and Geographic Areas (

Segments and Geographic Areas (Tables)	3 Months Ended
	Mar. 31, 2017
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 (In thousands) March 31, 2017 2016 Net sales: United States $ 23,689 $ 19,385 Europe 119,727 92,156 Eliminations (358) (19) $ 143,058 $ 111,522 Net income attributable to Inter Parfums, Inc.: United States $ 872 $ 397 Europe 12,501 6,937 $ 13,373 $ 7,334 March 31, March 31, 2017 2016 Total Assets: United States $ 86,007 $ 80,120 Europe 627,651 641,186 Eliminations of investment in subsidiary (9,553) (9,229) $ 704,105 $ 712,077

Recent Accounting Pronounceme23

Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Weighted Average Number of Shares Outstanding, Diluted	31,254	31,115
Accounting Standards Update 2015-17 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 8
Minimum [Member] | Accounting Standards Update 2016-09 [Member]
Weighted Average Number of Shares Outstanding, Diluted		31,104,495
Maximum [Member] | Accounting Standards Update 2016-09 [Member]
Weighted Average Number of Shares Outstanding, Diluted		31,114,894

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory [Line Items]
Raw materials and component parts	$ 38,630	$ 36,821
Finished goods	72,689	60,156
Inventories	$ 111,319	$ 96,977

Fair Value Measurement (Details

Fair Value Measurement (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets:
Short-term investments	$ 115,674	$ 94,202
Foreign currency forward exchange contracts not accounted for using hedge accounting	6
Foreign currency forward exchange contracts accounted for using hedge accounting	493
Total Assets	116,173
Liabilities:
Foreign currency forward exchange contracts accounted for using hedge accounting		181
Foreign currency forward exchange contracts not accounted for using hedge accounting		418
Interest rate swap	743	908
Total Liabilities		1,507
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets:
Short-term investments	0	0
Foreign currency forward exchange contracts accounted for using hedge accounting	0
Total Assets	0
Liabilities:
Foreign currency forward exchange contracts accounted for using hedge accounting		0
Foreign currency forward exchange contracts not accounted for using hedge accounting		0
Interest rate swap	0	0
Total Liabilities		0
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Short-term investments	115,674	94,202
Foreign currency forward exchange contracts not accounted for using hedge accounting	6
Foreign currency forward exchange contracts accounted for using hedge accounting	493
Total Assets	116,173
Liabilities:
Foreign currency forward exchange contracts accounted for using hedge accounting		181
Foreign currency forward exchange contracts not accounted for using hedge accounting		418
Interest rate swap	743	908
Total Liabilities		1,507
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Short-term investments	0	0
Foreign currency forward exchange contracts accounted for using hedge accounting	0
Total Assets	0
Liabilities:
Foreign currency forward exchange contracts accounted for using hedge accounting		0
Foreign currency forward exchange contracts not accounted for using hedge accounting		0
Interest rate swap	$ 0	0
Total Liabilities		$ 0

Derivative Financial Instrume26

Derivative Financial Instruments (Details Textual) ¥ in Millions, £ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2017JPY (¥)	Mar. 31, 2017GBP (£)	Mar. 31, 2016USD ($)
Derivative Financial Instruments [Line Items]
Maximum maturity period	1 year	1 year	1 year
Foreign Exchange Contract [Member]
Derivative Financial Instruments [Line Items]
Maximum maturity period	0 years	0 years	0 years
Derivative, Gain (Loss) on Derivative, Net, Total	$ 68.4	¥ 150	£ 1.2
Interest Rate Swap [Member]
Derivative Financial Instruments [Line Items]
Derivative, Gain (Loss) on Derivative, Net, Total	0.2			$ (0.3)
Rochas brand [Member] | Trademarks [Member] | Term Loan [Member]
Derivative Financial Instruments [Line Items]
Cash paid for acquisition and financed by loan, amount	$ 108
Cash paid for acquisition and financed by loan, term	5 years	5 years	5 years
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	Mar. 31, 2017	Dec. 31, 2016
Accounts Payable And Accrued Liabilities [Line Items]
Accrued advertising liabilities	$ 14.8	$ 27.2

Share-Based Payments (Details)

Share-Based Payments (Details) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Number of Shares
Nonvested options - beginning of period	401,440
Nonvested options granted	5,000
Nonvested options vested or forfeited	(11,825)
Nonvested options - end of period	394,615
Weighted Average Grant Date Fair Value
Nonvested options - beginning of period	$ 7.14
Nonvested options granted	7.67	$ 6.50
Nonvested options vested or forfeited	6.9
Nonvested options - end of period	$ 7.15

Share-Based Payments (Details 1

Share-Based Payments (Details 1)	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Shares
Outstanding at January 1, 2017	684,540
Options granted	5,000
Options forfeited	(5,500)
Options exercised	(29,790)
Outstanding at March 31, 2017	654,250
Options exercisable	259,635
Options available for future grants	1,080,155
Weighted Average Exercise Price
Outstanding at January 1, 2017 | $ / shares	$ 26.94
Options granted | $ / shares	33.95
Options forfeited | $ / shares	29.89
Options exercised | $ / shares	18.18
Outstanding at March 31, 2017 | $ / shares	27.37
Options exercisable | $ / shares	$ 24.91

Share-Based Payments (Details 2

Share-Based Payments (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash proceeds from stock options exercised	$ 542	$ 132
Tax benefits	135	0
Intrinsic value of stock options exercised	$ 549	$ 80

Share-Based Payments (Details 3

Share-Based Payments (Details 3)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected stock-price volatility	29.00%	33.00%
Weighted average expected option life	5 years	5 years
Weighted average risk-free interest rate	2.00%	1.42%
Weighted average dividend yield	2.10%	2.20%

Share-Based Payments (Details T

Share-Based Payments (Details Textual) € / shares in Units, $ / shares in Units, $ in Thousands, € in Millions	1 Months Ended			3 Months Ended
	Dec. 31, 2016USD ($)shares	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2016EUR (€)€ / sharesshares	Mar. 31, 2017USD ($)$ / shares	Mar. 31, 2016USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of options outstanding				$ 6,000
Unrecognized compensation cost related to stock options				$ 2,600
Weighted average grant date fair value | $ / shares				$ 7.67	$ 6.50
Weighted average remaining contractual life of options outstanding, options exercisable				2 years 5 months 16 days
Aggregate intrinsic value of exercisable options				$ 3,000
Allocated Share-based Compensation Expense				510	$ 210
Allocated Share-based Compensation Expense, Effect On Net Income Attributable To Parent				$ 320	130
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term				3 years 8 months 12 days
Interparfums SA [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value | (per share)		$ 25	€ 22.46
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
Allocated Share-based Compensation Expense				$ 300
Share based Compensation Arrangement by Share based Payment Award Value Shares Purchased for Award	$ 2,900
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | shares	108,348
Equity Method Investment, Ownership Percentage		73.00%	73.00%
Employees [Member] | Interparfums SA [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
Officers And Managers [Member] | Interparfums SA [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
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options, fair value of shares vested				$ 50	$ 50
Term				6 years
Equity Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				5 years
Equity Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				4 years

Net Income Attributable to In33

Net Income Attributable to Inter Parfums, Inc. Common Shareholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Numerator:
Net income attributable to Inter Parfums, Inc.	$ 13,373	$ 7,334
Denominator:
Weighted average shares	31,145	31,039
Effect of dilutive securities: Stock options	109	76
Denominator for diluted earnings per share	31,254	31,115
Net income attributable to Inter Parfums, Inc.
Basic	$ 0.43	$ 0.24
Diluted	$ 0.43	$ 0.24

Net Income Attributable to In34

Net Income Attributable to Inter Parfums, Inc. Common Shareholders (Details Textual) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	260	420

Segments and Geographic Areas35

Segments and Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 143,058	$ 111,522
Net income attributable to Inter Parfums, Inc.	13,373	7,334
Total Assets	704,105	712,077	$ 682,409
Eliminations [Member]
Segment Reporting Information [Line Items]
Net income attributable to Inter Parfums, Inc.	(358)	(19)
Total Assets	(9,553)	(9,229)
United States [Member]
Segment Reporting Information [Line Items]
Net sales	23,689	19,385
Net income attributable to Inter Parfums, Inc.	872	397
Total Assets	86,007	80,120
Europe [Member]
Segment Reporting Information [Line Items]
Net sales	119,727	92,156
Net income attributable to Inter Parfums, Inc.	12,501	6,937
Total Assets	$ 627,651	$ 641,186

Other Matters (Details Textual)

Other Matters (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2016	Aug. 31, 2015	Mar. 31, 2017	Mar. 31, 2016
Proceeds from Sale of Intangible Assets	$ 5,700
Gain (Loss) on Disposition of Intangible Assets	4,700
Inventory, Net	96,977		$ 111,319
Accrued Income Taxes, Current	$ 3,331		8,015
Foreign Tax Authority [Member]
Tax Adjustments, Settlements, and Unusual Provisions		$ 6,900
Balmain [Member]
Inventory, Net			$ 1,400
Interparfum SA [Member]
Accrued Income Taxes, Current				$ 1,900