Inter Parfums (IPAR) 10-Q 8 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 08, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	0-16469
Entity Registrant Name	INTER PARFUMS, INC.
Entity Central Index Key	0000822663
Entity Tax Identification Number	13-3275609
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	551 Fifth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10176
City Area Code	(212)
Local Phone Number	983-2640
Title of 12(b) Security	Common Stock, $.001 par value per share
Trading Symbol	IPAR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,733,880

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 174,848	$ 169,681
Short-term investments	149,192	126,627
Accounts receivable, net	193,868	124,057
Inventories	156,025	158,822
Receivables, other	3,951	1,815
Other current assets	24,626	16,912
Income taxes receivable	1,448	2,806
Total current assets	703,958	600,720
Buildings, equipment and leasehold improvements, net	142,823	19,580
Right-of-use assets, net	31,428	24,734
Trademarks, licenses and other intangible assets, net	203,961	214,108
Deferred tax assets	6,916	8,041
Other assets	37,465	22,962
Total assets	1,126,551	890,145
Current liabilities:
Current portion of long-term debt	15,025	14,570
Current portion of lease liabilities	6,128	5,133
Accounts payable – trade	46,874	35,576
Accrued expenses	117,775	95,629
Income taxes payable	26,547	5,297
Total current liabilities	212,349	156,205
Long–term debt, less current portion	126,636	10,136
Lease liabilities, less current portion	27,771	21,354
Inter Parfums, Inc. shareholders’ equity:
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 31,722,300 and 31,608,588 shares at September 30, 2021 and December 31, 2020, respectively	32	32
Additional paid-in capital	83,070	75,708
Retained earnings	569,354	503,567
Accumulated other comprehensive loss	(29,322)	(5,997)
Treasury stock, at cost, 9,864,805 shares at September 30, 2021 and December 31, 2020	(37,475)	(37,475)
Total Inter Parfums, Inc. shareholders’ equity	585,659	535,835
Noncontrolling interest	174,136	166,615
Total equity	759,795	702,450
Total liabilities and equity	$ 1,126,551	$ 890,145

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Outstanding	31,722,300	31,608,588
Treasury Stock, Shares	9,864,805	9,864,805

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net sales	$ 262,696	$ 160,637	$ 668,797	$ 354,967
Cost of sales	95,269	63,439	243,772	141,883
Gross margin	167,427	97,198	425,025	213,084
Selling, general and administrative expenses	99,788	65,841	262,379	169,471
Impairment loss			2,393
Income from operations	67,639	31,357	160,253	43,613
Other expenses (income):
Interest expense	1,697	148	3,344	1,510
(Gain) loss on foreign currency	(613)	891	(2,169)	(76)
Interest income	(233)	(393)	(1,388)	(2,154)
Other income expense	(36)		(135)
Other expenses (income)	815	646	(348)	(720)
Income before income taxes	66,824	30,711	160,601	44,333
Income taxes	16,997	8,859	45,112	12,165
Net income	49,827	21,852	115,489	32,168
Less: Net income attributable to the noncontrolling interest	11,511	5,314	26,854	8,688
Net income attributable to Inter Parfums, Inc.	$ 38,316	$ 16,538	$ 88,635	$ 23,480
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic	$ 1.21	$ 0.52	$ 2.80	$ 0.74
Diluted	$ 1.20	$ 0.52	$ 2.79	$ 0.74
Weighted average number of shares outstanding:
Basic	31,659	31,533	31,648	31,531
Diluted	31,807	31,619	31,793	31,651
Dividends declared per share	$ 0.25		$ 0.75	$ 0.33

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Comprehensive income:
Net income	$ 49,827	$ 21,852	$ 115,489	$ 32,168
Other comprehensive income:
Net derivative instrument (loss), net of tax	(609)		(703)	(19)
Transfer from OCI into earnings				(52)
Translation adjustments, net of tax	(15,396)	22,604	(33,203)	21,770
Comprehensive income	33,822	44,456	81,583	53,867
Comprehensive income attributable to the noncontrolling interests:
Net income	11,511	5,314	26,854	8,688
Other comprehensive income (loss):
Net derivative instrument (loss), net of tax	(166)		(192)	(19)
Translation adjustments, net of tax	(3,974)	6,596	(10,389)	6,423
Comprehensive income attributable to the noncontrolling interests	7,371	11,910	16,273	15,092
Comprehensive income attributable to Inter Parfums, Inc.	$ 26,451	$ 32,546	$ 65,310	$ 38,775

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]	Total
Beginning Balance at Dec. 31, 2019	$ 31	$ 70,664	$ 474,637	$ (39,853)	$ (37,475)	$ 140,994	$ 608,998
Foreign currency translation adjustment, net of tax				15,347		6,423
Transfer from other comprehensive income into earnings				(52)
Net derivative instrument loss, net of tax				0		(19)	19
Net income			23,480			8,688	32,168
Dividends, Cash			(10,406)			324
Shares issued for license acquisition		0
Shares issued upon exercise of stock options	1	796
Transfer of subsidiary shares purchased		525				(139)
Dividends			10,406			(324)
Share-based compensation (adjustment)		1,283	482			178
Ending Balance at Sep. 30, 2020	32	73,268	488,193	(24,558)	(37,475)	155,801	655,261
Beginning Balance at Dec. 31, 2020	32	75,708	503,567	(5,997)	(37,475)	166,615	702,450
Foreign currency translation adjustment, net of tax				(22,814)		(10,389)
Transfer from other comprehensive income into earnings				0
Net derivative instrument loss, net of tax				(511)		(192)	703
Net income			88,635			26,854	115,489
Dividends, Cash			(23,740)			9,836
Shares issued for license acquisition		5,000
Shares issued upon exercise of stock options	0	1,727
Transfer of subsidiary shares purchased		(540)				1,153
Dividends			23,740			(9,836)
Share-based compensation (adjustment)		1,175	892			(69)
Ending Balance at Sep. 30, 2021	$ 32	$ 83,070	$ 569,354	$ (29,322)	$ (37,475)	$ 174,136	$ 759,795

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 115,489	$ 32,168
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	7,273	6,751
Provision for doubtful accounts	1,369	3,455
Noncash stock compensation	2,158	1,805
Share of income of equity investment	(135)
Impairment loss	2,393
Non-cash lease expense	6,953	4,332
Deferred tax provision (benefit)	739	(1,390)
Change in fair value of derivatives	1,844	(604)
Changes in:
Accounts receivable	(79,112)	(3,095)
Inventories	(3,727)	(5,629)
Other assets	(13,460)	533
Operating lease liabilities	(6,169)	(4,279)
Accounts payable and accrued expenses	41,830	(57,147)
Income taxes, net	23,816	2,946
Net cash provided by (used in) operating activities	101,261	(20,154)
Cash flows from investing activities:
Purchases of short-term investments	(41,406)	(7,162)
Proceeds from sale of short-term investments	10,753
Purchase of equity investment		(13,998)
Purchases of buildings, equipment and leasehold improvements	(131,322)	(3,013)
Payment for intangible assets acquired	(858)	(971)
Net cash used in investing activities	(162,833)	(25,144)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	158,992	13,438
Repayment of long-term debt	(38,232)	(12,380)
Proceeds from exercise of options	1,727	796
Dividends paid	(23,741)	(20,805)
Dividends paid to noncontrolling interest	(9,831)	(324)
Net cash provided by (used in) financing activities	88,915	(19,275)
Effect of exchange rate changes on cash	(7,934)	5,506
Net increase (decrease) in cash and cash equivalents	19,409	(59,067)
Cash and cash equivalents - beginning of period	169,681	192,417
Cash and cash equivalents - end of period	189,090	133,350
Cash paid for:
Interest	1,582	776
Income taxes	$ 21,103	$ 10,330

Significant Accounting Policies

Significant Accounting Policies:	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies:	1. Significant Accounting Policies: The accounting policies we follow are set forth in the notes to our consolidated financial statements included in our Form 10-K, which was filed with the Securities and Exchange Commission for the year ended December 31, 2020.

Impact of COVID-19 Pandemic_

Impact of COVID-19 Pandemic:	9 Months Ended
	Sep. 30, 2021
Unusual or Infrequent Items, or Both [Abstract]
Impact of COVID-19 Pandemic:	2. Impact of COVID-19 Pandemic: A novel strain of coronavirus (“COVID-19”) surfaced in late 2019 and has spread around the world, including to the United States and France. In March 2020, the World Health Organization declared COVID-19 a pandemic. In response to the COVID-19 pandemic various national, state, and local governments where we, our suppliers, and our customers operate initially issued decrees prohibiting certain businesses from continuing to operate and certain classes of workers from reporting to work. In all jurisdictions in which we operate we have been following guidance from authorities and health officials. The effects of the COVID-19 pandemic on the beauty industry began in early March 2020. Retail store closings, event cancellations and a shutdown of international air travel brought our sales to a virtual standstill and caused a significant unfavorable impact on our results of operations in 2020. Business significantly improved in the second half of 2020 and continued to improve in 2021, as retail stores reopened, and consumers increased online purchasing. While we expect this trend to continue, the introduction of variants of COVID-19 in various parts of the world has caused the temporary re-implementation of certain governmental restrictions in 2021, to prevent further spread of the virus. In addition, international air travel has remained curtailed in many jurisdictions due to both governmental restrictions and consumer health concerns. Lastly, the improved economy has put significant strains on our supply chain causing disruptions affecting the procurement of components, the ability to transport goods, and related cost increases. These disruptions have continued into the fourth quarter of 2021, at a time when demand for our product lines has never been stronger or more sustained. We have been addressing this issue since the beginning of the year, by ordering well in advance of need and in larger quantities. Going forward, we aim to carry more inventory overall, source the same components from multiple suppliers and when possible, manufacture products closer to where they are sold. We currently expect supply chain bottlenecks to begin lifting early in the new year. Therefore, despite recent business improvement, the impact of the COVID-19 pandemic may have a material adverse effect on our results of our operations, financial position and cash flows through at least the end of 2021.

Recent Agreements

Recent Agreements	9 Months Ended
	Sep. 30, 2021
Recent Agreements
Recent Agreements	3. Recent Agreements Salvatore Ferragamo In October 2021, we closed on a transaction agreement with Salvatore Ferragamo S.p.A., whereby an exclusive and worldwide license was granted for the production and distribution of Ferragamo brand perfumes. Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. The license is effective from October 2021 and will last for 10 years with a 5-year optional term, subject to certain conditions. INTER PARFUMS, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements With respect to the management and coordination of activities related to the license agreement, the Company will operate through a wholly-owned Italian subsidiary based in Florence, and all products will be produced in Italy. Donna Karan and DKNY In September 2021, we entered into a long-term global licensing agreement for the creation, development and distribution of fragrances and fragrance-related products under the Donna Karan and DKNY brands. Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. With this agreement, we are gaining several well-established and valuable fragrance franchises, most notably Donna Karan Cashmere Mist Be Delicious French Tax Settlement The French authorities had considered that the existence of IP Suisse, a wholly-owned subsidiary of Interparfums SA (“IPSA”), our majority owned Paris-based subsidiary, does not, in and of itself, constitute a permanent establishment and therefore IPSA should pay French taxes on all or part of the profits of that entity. In June 2021, a global settlement agreement was reached with the French Tax Authorities, whereby IPSA agreed to pay € 2.5 million 2.9 million Building Acquisition - Future Headquarters in Paris In April 2021, IPSA, completed the acquisition of its future headquarters at 10 rue de Solférino in the 7th arrondissement of Paris from the property developer. This is an office complex combining three buildings connected by two inner courtyards, and consists of approximately 40,000 total sq. ft. The $ 145 2.9 million 14.2 17.0 million 17.0 million The acquisition was financed by a 10 120 139 one-month Euribor plus 0.75% 80 Anna Sui Corp. In January 2021, we renewed our license agreement with Anna Sui Corp. for the creation, development and distribution of fragrance products through December 31, 2026, without any material changes in terms and conditions. Our initial 10-year license agreement with Anna Sui Corp. was signed in 2011. The renewal agreement also allows for an additional 5-year term through 2031 at the option of the Company. Rochas Fashion Effective January 1, 2021, we entered into a new license agreement modifying our Rochas fashion business model. The new agreement calls for a reduction in royalties to be received. As a result, in the first quarter of 2021, we took a $ 2.4 million

Recent Accounting Pronouncement

Recent Accounting Pronouncements:	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements:	4. Recent Accounting Pronouncements: There are no 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, 2021
Inventory Disclosure [Abstract]
Inventories:	5. Inventories: Inventories consist of the following: (In thousands) September 30, December 31, 2021 2020 Raw materials and component parts $ 78,762 $ 66,492 Finished goods 77,263 92,330 Inventories $ 156,025 $ 158,822

Fair Value Measurement_

Fair Value Measurement:	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement:	6. Fair Value Measurement: The following tables present our financial assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Fair Value Measurements at September 30, 2021 Total Quoted Prices in Significant Other Significant Assets: Short-term investments $ 149,192 $ — $ 149,192 $ — Liabilities: Interest rate swaps $ 395 $ — $ 395 $ — Foreign currency forward exchange contracts accounted for using hedge accounting 1,078 — 1,078 — Foreign currency forward exchange contracts not accounted for using hedge accounting 75 — 75 — $ 1,548 $ — $ 1,548 $ — Fair Value Measurements at December 31, 2020 Total Quoted Prices in Significant Other Significant Assets: Short-term investments $ 126,627 $ — $ 126,627 $ — Foreign currency forward exchange contracts not accounted for using hedge accounting 253 — 253 — $ 126,880 $ — $ 126,880 $ — The carrying amount of cash and cash equivalents including money market funds, short-term investments, accounts receivable, other receivables, cash held in escrow, accounts payable and accrued expenses approximate 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 from financial institutions.

Derivative Financial Instrument

Derivative Financial Instruments:	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments:	7. 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 April 2021 acquisition of the office building complex in Paris, € 120 $139 10 80 1.1% Gains and losses in derivatives designated as hedges are accumulated in other comprehensive income 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 the nine months ended September 30, 2021 and 2020. All derivative instruments are reported as either assets or liabilities on the balance sheet measured at fair value. The valuation of interest rate swaps as of September 30, 2021, 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 September 30, 2021, resulted in a liability and is included in accrued expenses on the accompanying balance sheet. At September 30, 2021, we had foreign currency contracts in the form of forward exchange contracts in the amount of approximately U.S. $ 60.5 6.3 50.0

Leases_

Leases:	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases:	8. Leases: The Company leases its offices and warehouses, vehicles, and certain office equipment, substantially all of which are classified as operating leases. The Company currently has no material financing leases. The Company determines if an arrangement is a lease at inception. Operating lease assets and obligations are recognized at the lease commencement date based on the present value of lease payments over the lease term. In determining lease asset value, the Company considers fixed or variable payment terms, prepayments, incentives, and options to extend or terminate, depending on the lease. Renewal, termination or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. The Company generally uses its incremental borrowing rate based on information available at the lease commencement date for the location in which the lease is held in determining the present value of lease payments. As of September 30, 2021, the weighted average remaining lease term was 5.3 2.1% 1.9 million 6.8 million 1.4 million 4.7 million 6.2 million 4.3 million 14.0 million 1.0 million In connection with the preparation of our consolidated financial statements for the three months ended June 30, 2021, we identified an error relating to the recognition of certain leases under ASC 842. The error impacted the lease right-of-use assets and lease liabilities, both of which were understated by approximately € 14.0 Maturities of lease liabilities subsequent to September 30, 2021, are as follows: (In thousands) 2021 $ 1,836 2022 5,956 2023 5,353 2024 5,245 2025 4,169 Thereafter 13,197 35,756 Less imputed interest (based on 2.1% weighted-average discount rate) (1,857 ) $ 33,899

Share-Based Payments_

Share-Based Payments:	9 Months Ended
	Sep. 30, 2021
Equity:
Share-Based Payments:	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 five 0.09 million 0.09 million The following table sets forth information with respect to nonvested options for the nine months ended September 30, 2021: Number of Shares Weighted Average Grant-Date Fair Value Nonvested options – beginning of period 353,790 $ 12.96 Nonvested options granted 9,000 $ 11.35 Nonvested options vested or forfeited (38,730 ) $ 13.00 Nonvested options – end of period 324,060 $ 12.91 Share-based payment expense decreased income before income taxes by $ 0.71 million 2.16 million 0.62 million 1.81 million 0.48 million 1.42 million 0.43 million 1.29 million The following table summarizes stock option information as of September 30, 2021 Shares Weighted Average Outstanding at January 1, 2021 713,210 $ 52.74 Options granted 9,000 62.18 Options forfeited (39,220 ) 62.64 Options exercised (48,370 ) 35.71 Outstanding at September 30, 2021 634,620 $ 53.56 Options exercisable 310,560 $ 44.53 Options available for future grants 610,935 As of September 30, 2021, the weighted average remaining contractual life of options outstanding is 2.67 1.96 13.5 million 9.4 million 3.3 million Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2021 and September 30, 2020 were as follows (In thousands) September 30, 2021 September 30, 2020 Cash proceeds from stock options exercised $ 1,727 $ 796 Tax benefits 240 -- Intrinsic value of stock options exercised 1,562 788 The weighted average fair values of the options granted by Inter Parfums, Inc. during the nine months ended September 30, 2021 and 2020 were $ 11.35 12.16 The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2021 and 2020 are set forth in the following table: September 30, 2021 September 30, 2020 Weighted average expected stock-price volatility 25 % 25 % Weighted average expected option life 5 years 5 years Weighted average risk-free interest rate 0.4 % 1.4 % Weighted average dividend yield 1.6 % 2.5 % 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 December 2018, IPSA approved a plan to grant an aggregate of 26,600 133,000 The fair value of the grant had been determined based on the quoted stock price of IPSA shares as reported by the NYSE Euronext on the date of grant. In June 2020, the performance conditions were modified effecting 96 employees. As of September 30, 2021, the number of shares to be distributed, after forfeited shares, increased to 173,141 The original cost of the grant was approximately $ 4.4 million 4.7 million

Net Income Attributable to Inte

Net Income Attributable to Inter Parfums, Inc. Common Shareholders:	9 Months Ended
	Sep. 30, 2021
Earnings per share:
Net Income Attributable to Inter Parfums, Inc. Common Shareholders:	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 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. The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows (In thousands) Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Numerator: Net income attributable to Inter Parfums, Inc. $ 38,316 $ 16,538 $ 88,635 $ 23,480 Denominator: Weighted average shares Effect of dilutive securities: 31,659 31,533 31,648 31,531 Stock options 148 86 145 120 Denominator for diluted earnings per share 31,807 31,619 31,793 31,651 Earnings per share: Net income attributable to Inter Parfums, Inc. common shareholders: Basic $ 1.21 $ 0.52 $ 2.80 $ 0.74 Diluted 1.20 0.52 2.79 0.74 Not included in the above computations are the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.17 0.23 0.52 0.47

Segment and Geographic Areas_

Segment and Geographic Areas:	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment and Geographic Areas:	11. Segment and Geographic Areas: The Company manufactures and distributes one product line, fragrances and fragrance related products. The Company manages its business in two segments, European based operations and United States based operations. The European assets are located, and operations are primarily conducted, in France. Both European operations and United States operations primarily represent the sale of prestige brand name fragrances. Information on our operations by geographical areas is as follows (In thousands) Three months ended Nine months ended 2021 2020 2021 2020 Net sales: United States $ 56,382 $ 31,126 $ 142,089 $ 72,970 Europe 206,087 129,741 527,004 283,288 Eliminations 227 (230 ) (296 ) (1,291 ) $ 262,696 $ 160,637 $ 668,797 $ 354,967 Net income attributable to Inter Parfums, Inc.: United States $ 8,391 $ 2,909 $ 18,368 $ 993 Europe 29,925 13,629 69,967 22,487 $ 38,316 $ 16,538 $ 88,335 $ 23,480 September 30, December 31, 2021 2020 Total Assets: United States $ 206,017 $ 141,316 Europe 957,686 758,812 Eliminations (37,152 ) (9,983 ) $ 1,126,551 $ 890,145

Reconciliation of Cash and Cash

Reconciliation of Cash and Cash Equivalents to the Statement of Cash Flows:	9 Months Ended
	Sep. 30, 2021
Reconciliation Of Cash And Cash Equivalents To Statement Of Cash Flows
Reconciliation of Cash and Cash Equivalents to the Statement of Cash Flows:	12. Reconciliation of Cash and Cash Equivalents to the Statement of Cash Flows: The following table summarizes cash and cash equivalents as of September 30, 2021: September 30, 2021 Cash and cash equivalents per balance sheet $ 174,848 Cash held in escrow included in other assets (see note 3) 14,242 Cash and cash equivalents per statement of cash flows $ 189,090

Reclassifications_

Reclassifications:	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassifications:	13. Reclassifications: Certain prior year’s amounts in the accompanying consolidated statements of cash flows have been reclassified to conform to current period presentation.

Inventories_ (Tables)

Inventories: (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories consist of the following:	Inventories consist of the following: (In thousands) September 30, December 31, 2021 2020 Raw materials and component parts $ 78,762 $ 66,492 Finished goods 77,263 92,330 Inventories $ 156,025 $ 158,822

Fair Value Measurement_ (Tables

Fair Value Measurement: (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
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.	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 September 30, 2021 Total Quoted Prices in Significant Other Significant Assets: Short-term investments $ 149,192 $ — $ 149,192 $ — Liabilities: Interest rate swaps $ 395 $ — $ 395 $ — Foreign currency forward exchange contracts accounted for using hedge accounting 1,078 — 1,078 — Foreign currency forward exchange contracts not accounted for using hedge accounting 75 — 75 — $ 1,548 $ — $ 1,548 $ — Fair Value Measurements at December 31, 2020 Total Quoted Prices in Significant Other Significant Assets: Short-term investments $ 126,627 $ — $ 126,627 $ — Foreign currency forward exchange contracts not accounted for using hedge accounting 253 — 253 — $ 126,880 $ — $ 126,880 $ —

Leases_ (Tables)

Leases: (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Maturities of lease liabilities subsequent to September 30, 2021, are as follows:	Maturities of lease liabilities subsequent to September 30, 2021, are as follows: (In thousands) 2021 $ 1,836 2022 5,956 2023 5,353 2024 5,245 2025 4,169 Thereafter 13,197 35,756 Less imputed interest (based on 2.1% weighted-average discount rate) (1,857 ) $ 33,899

Share-Based Payments_ (Tables)

Share-Based Payments: (Tables)	9 Months Ended
	Sep. 30, 2021
Equity:
The following table sets forth information with respect to nonvested options for the nine months ended September 30, 2021:	The following table sets forth information with respect to nonvested options for the nine months ended September 30, 2021: Number of Shares Weighted Average Grant-Date Fair Value Nonvested options – beginning of period 353,790 $ 12.96 Nonvested options granted 9,000 $ 11.35 Nonvested options vested or forfeited (38,730 ) $ 13.00 Nonvested options – end of period 324,060 $ 12.91
The following table summarizes stock option information as of September 30, 2021	The following table summarizes stock option information as of September 30, 2021 Shares Weighted Average Outstanding at January 1, 2021 713,210 $ 52.74 Options granted 9,000 62.18 Options forfeited (39,220 ) 62.64 Options exercised (48,370 ) 35.71 Outstanding at September 30, 2021 634,620 $ 53.56 Options exercisable 310,560 $ 44.53 Options available for future grants 610,935
Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2021 and September 30, 2020 were as follows	Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2021 and September 30, 2020 were as follows (In thousands) September 30, 2021 September 30, 2020 Cash proceeds from stock options exercised $ 1,727 $ 796 Tax benefits 240 -- Intrinsic value of stock options exercised 1,562 788
The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2021 and 2020 are set forth in the following table:	The weighted average fair values of the options granted by Inter Parfums, Inc. during the nine months ended September 30, 2021 and 2020 were $ 11.35 12.16 The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2021 and 2020 are set forth in the following table: September 30, 2021 September 30, 2020 Weighted average expected stock-price volatility 25 % 25 % Weighted average expected option life 5 years 5 years Weighted average risk-free interest rate 0.4 % 1.4 % Weighted average dividend yield 1.6 % 2.5 %

Net Income Attributable to In_2

Net Income Attributable to Inter Parfums, Inc. Common Shareholders: (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings per share:
The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows	The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows (In thousands) Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Numerator: Net income attributable to Inter Parfums, Inc. $ 38,316 $ 16,538 $ 88,635 $ 23,480 Denominator: Weighted average shares Effect of dilutive securities: 31,659 31,533 31,648 31,531 Stock options 148 86 145 120 Denominator for diluted earnings per share 31,807 31,619 31,793 31,651 Earnings per share: Net income attributable to Inter Parfums, Inc. common shareholders: Basic $ 1.21 $ 0.52 $ 2.80 $ 0.74 Diluted 1.20 0.52 2.79 0.74

Segment and Geographic Areas_ (

Segment and Geographic Areas: (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
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. Information on our operations by geographical areas is as follows	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. Information on our operations by geographical areas is as follows (In thousands) Three months ended Nine months ended 2021 2020 2021 2020 Net sales: United States $ 56,382 $ 31,126 $ 142,089 $ 72,970 Europe 206,087 129,741 527,004 283,288 Eliminations 227 (230 ) (296 ) (1,291 ) $ 262,696 $ 160,637 $ 668,797 $ 354,967 Net income attributable to Inter Parfums, Inc.: United States $ 8,391 $ 2,909 $ 18,368 $ 993 Europe 29,925 13,629 69,967 22,487 $ 38,316 $ 16,538 $ 88,335 $ 23,480 September 30, December 31, 2021 2020 Total Assets: United States $ 206,017 $ 141,316 Europe 957,686 758,812 Eliminations (37,152 ) (9,983 ) $ 1,126,551 $ 890,145

Reconciliation of Cash and Ca_2

Reconciliation of Cash and Cash Equivalents to the Statement of Cash Flows: (Tables)	9 Months Ended
	Sep. 30, 2021
Reconciliation Of Cash And Cash Equivalents To Statement Of Cash Flows
The following table summarizes cash and cash equivalents as of September 30, 2021:	The following table summarizes cash and cash equivalents as of September 30, 2021: September 30, 2021 Cash and cash equivalents per balance sheet $ 174,848 Cash held in escrow included in other assets (see note 3) 14,242 Cash and cash equivalents per statement of cash flows $ 189,090

Recent Agreements (Details Narr

Recent Agreements (Details Narrative)	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021EUR (€)	Apr. 30, 2021USD ($)	Apr. 30, 2021EUR (€)
Payments for Purchase of Other Assets	$ 145,000
Cash held in escrow	$ 14,200
Long-term Debt, Term	10 years	10 years	10 years	10 years
Long-term Line of Credit	$ 139,000		$ 139,000
Debt Instrument, Interest Rate Terms	one-month Euribor plus 0.75%
Anna Sui Corp [Member]
Discription of recent agreement	Our initial 10-year license agreement with Anna Sui Corp. was signed in 2011. The renewal agreement also allows for an additional 5-year term through 2031 at the option of the Company.
Rochas Fashion [Member]
Impairment Charge on Reclassified Assets	$ 2,400,000
Euro Member Countries, Euro
Acquisition Costs, Period Cost	2,900,000
Investment Tax Credit	17,000,000
Long-term Line of Credit | €		€ 120,000		€ 120,000
Debt Instrument, Face Amount | €		80,000
Swiss Federal Tax Administration (FTA) [Member] | Global Settlement Agreement [Member]
Taxes Payable	2,900,000
Swiss Federal Tax Administration (FTA) [Member] | Euro Member Countries, Euro
Income Taxes Receivable	$ 17,000,000
Swiss Federal Tax Administration (FTA) [Member] | Euro Member Countries, Euro | Global Settlement Agreement [Member]
Taxes Payable | €		€ 2,500,000

Inventories consist of the foll

Inventories consist of the following: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials and component parts	$ 78,762	$ 66,492
Finished goods	77,263	92,330
Inventories	$ 156,025	$ 158,822

The following tables present ou

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 use (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Short-term investments	$ 149,192	$ 126,627
Liabilities:
Interest rate swaps	395
Foreign currency forward exchange contracts accounted for using hedge accounting	1,078
Foreign currency forward exchange contracts not accounted for using hedge accounting	75	253
	1,548	126,880
Fair Value, Inputs, Level 1 [Member]
Assets:
Short-term investments
Liabilities:
Interest rate swaps
Foreign currency forward exchange contracts accounted for using hedge accounting
Foreign currency forward exchange contracts not accounted for using hedge accounting
Fair Value, Inputs, Level 2 [Member]
Assets:
Short-term investments	149,192	126,627
Liabilities:
Interest rate swaps	395
Foreign currency forward exchange contracts accounted for using hedge accounting	1,078
Foreign currency forward exchange contracts not accounted for using hedge accounting	75	253
	1,548	126,880
Fair Value, Inputs, Level 3 [Member]
Assets:
Short-term investments
Liabilities:
Interest rate swaps
Foreign currency forward exchange contracts accounted for using hedge accounting
Foreign currency forward exchange contracts not accounted for using hedge accounting

Derivative Financial Instrume_2

Derivative Financial Instruments: (Details Narrative) € in Thousands	Sep. 30, 2021USD ($)	Sep. 30, 2021JPY (¥)	Sep. 30, 2021EUR (€)	Sep. 30, 2021GBP (£)	Apr. 30, 2021USD ($)	Apr. 30, 2021EUR (€)
Derivative Instruments, Gain (Loss) [Line Items]
Long-term Line of Credit | $	$ 139,000				$ 139,000
Long-term Debt, Term	10 years	10 years	10 years	10 years	10 years	10 years
[custom:InterestRateSwap-0] | €						€ 80
Derivative, Swaption Interest Rate					1.10%	1.10%
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure | $	$ 60,500
Euro Member Countries, Euro
Derivative Instruments, Gain (Loss) [Line Items]
Long-term Line of Credit | €			€ 120			€ 120
United Kingdom, Pounds | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure | £				£ 6,300
Japan, Yen | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure | ¥		¥ 50,000

Maturities of lease liabilities

Maturities of lease liabilities subsequent to September 30, 2021, are as follows: (Details) $ in Thousands	Sep. 30, 2021USD ($)
Leases [Abstract]
2022	$ 5,956
2023	5,353
2024	5,245
2025	4,169
Thereafter	13,197
Total	35,756
Less imputed interest (based on 2.1% weighted-average discount rate)	(1,857)
Net lease liabilities	$ 33,899

Leases_ (Details Narrative)

Leases: (Details Narrative)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020EUR (€)
Operating Lease, Weighted Average Remaining Lease Term	5 years 18 days		5 years 18 days
Operating Lease, Weighted Average Discount Rate, Percent	2.10%		2.10%
Operating Leases, Rent Expense, Net	$ 1,900,000	$ 1,400,000	$ 6,800,000	$ 4,700,000
Operating Lease, Payments			6,200,000	4,300,000
Operating Lease, Cost			$ 14,000,000	$ 1,000,000
Euro Member Countries, Euro
Operating lease right of use | €					€ 14,000

The following table sets forth

The following table sets forth information with respect to nonvested options for the nine months ended September 30, 2021: (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Equity:
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Beginning Balance | shares	353,790
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 12.96
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	9,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 11.35
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | shares	(38,730)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value | $ / shares	$ 13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance | shares	324,060
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 12.91

The following table summarizes

The following table summarizes stock option information as of September 30, 2021 (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Equity:
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance	713,210
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 52.74
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	9,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 62.18
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(39,220)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares	$ 62.64
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(48,370)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares	$ 35.71
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	634,620
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 53.56
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	310,560
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares	$ 44.53
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	610,935

Cash proceeds, tax benefits and

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2021 and September 30, 2020 were as follows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Equity:
Cash proceeds from stock options exercised	$ 1,727	$ 796
Tax benefits	240
Intrinsic value of stock options exercised	$ 1,562	$ 788

The assumptions used in the Bla

The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2021 and 2020 are set forth in the following table: (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Equity:
Weighted average expected stock-price volatility	25.00%	25.00%
Weighted average expected option life	5 years	5 years
Weighted average risk-free interest rate	0.40%	1.40%
Weighted average dividend yield	1.60%	2.50%

Share-Based Payments_ (Details

Share-Based Payments: (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Subsidiary or Equity Method Investee [Line Items]
Share-based Payment Arrangement, Expense	$ 710,000	$ 2,160,000		$ 620,000	$ 1,810,000
Employee Benefits and Share-based Compensation	480,000	$ 1,420,000		$ 430,000	$ 1,290,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		2 years 8 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term		1 year 11 months 15 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	13,500,000	$ 13,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	9,400,000	9,400,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 3,300,000	$ 3,300,000
Interparfums S A Subsidiary [Member]
Subsidiary or Equity Method Investee [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	173,141	173,141
[custom:RevaluationResultedInReductionOfCostDescription]		The original cost of the grant was approximately $4.4 million, and the modification resulted in a revised cost of approximately $4.7 million
Share-based Payment Arrangement, Expensed and Capitalized, Amount		$ 4,400,000
Share-based Payment Arrangement, Plan Modification, Incremental Cost		4,700,000
Interparfums S A Subsidiary [Member] | Employees [Member]
Subsidiary or Equity Method Investee [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized						26,600
Interparfums S A Subsidiary [Member] | Officers And Managers [Member]
Subsidiary or Equity Method Investee [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized						133,000
Equity Option [Member]
Subsidiary or Equity Method Investee [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 90,000	$ 90,000
Equity Option [Member] | Minimum [Member]
Subsidiary or Equity Method Investee [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Equity Option [Member] | Maximum [Member]
Subsidiary or Equity Method Investee [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		5 years

The reconciliation between the

The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income attributable to Inter Parfums, Inc.	$ 38,316	$ 16,538	$ 88,635	$ 23,480
Denominator:
Weighted average shares Effect of dilutive securities:	31,659	31,533	31,648	31,531
Stock options	148	86	145	120
Denominator for diluted earnings per share	31,807	31,619	31,793	31,651
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic	$ 1.21	$ 0.52	$ 2.80	$ 0.74
Diluted	$ 1.20	$ 0.52	$ 2.79	$ 0.74

Net Income Attributable to In_3

Net Income Attributable to Inter Parfums, Inc. Common Shareholders: (Details Narrative) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings per share:
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.17	0.52	0.23	0.47

The Company manufactures and di

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 oper (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 262,696	$ 160,637	$ 668,797	$ 354,967
Net Income (Loss) Attributable to Parent	38,316	16,538	88,635	23,480
Assets	1,126,551		1,126,551		$ 890,145
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	56,382	31,126	142,089	72,970
Net Income (Loss) Attributable to Parent	8,391	2,909	18,368	993
Assets	206,017		206,017		141,316
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	206,087	129,741	527,004	283,288
Net Income (Loss) Attributable to Parent	29,925	13,629	69,967	22,487
Assets	957,686		957,686		758,812
Eliminations [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	227	$ (230)	(296)	$ (1,291)
Assets	$ (37,152)		$ (37,152)		$ (9,983)

The following table summarize_2

The following table summarizes cash and cash equivalents as of September 30, 2021: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Reconciliation Of Cash And Cash Equivalents To Statement Of Cash Flows
Cash and cash equivalents per balance sheet	$ 174,848	$ 169,681
Cash held in escrow included in other assets (see note 3)	14,242
Cash and cash equivalents per statement of cash flows	$ 189,090