Inter Parfums (IPAR) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 06, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	0-16469
Entity Registrant Name	INTERPARFUMS, 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		32,030,280

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 78,419	$ 88,462
Short-term investments	78,783	94,304
Accounts receivable, net	354,175	247,240
Inventories	412,758	371,859
Receivables, other	4,984	7,012
Other current assets	26,788	29,458
Income taxes receivable	533	691
Total current assets	956,440	839,026
Property, equipment and leasehold improvements, net	166,435	169,222
Right-of-use assets, net	25,471	28,613
Trademarks, licenses and other intangible assets, net	290,864	296,356
Deferred tax assets	19,742	14,545
Other assets	21,648	21,567
Total assets	1,480,600	1,369,329
Current liabilities:
Loans payable - banks	8,957	4,420
Current portion of long-term debt	44,538	29,587
Current portion of lease liabilities	6,189	5,951
Accounts payable – trade	96,578	97,409
Accrued expenses	166,156	178,880
Income taxes payable	17,164	8,498
Total current liabilities	339,582	324,745
Long–term debt, less current portion	134,585	127,897
Lease liabilities, less current portion	21,304	24,517
Equity:
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued	0	0
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 32,029,580 and 32,004,660 shares at September 30, 2024 and December 31, 2023, respectively	32	32
Additional paid-in capital	101,123	98,565
Retained earnings	762,826	693,848
Accumulated other comprehensive loss	(32,641)	(40,188)
Treasury stock, at cost, 9,981,665 and 9,981,665 shares at September 30, 2024 and December 31, 2023, respectively	(52,864)	(52,864)
Total Interparfums, Inc. shareholders’ equity	778,476	699,393
Noncontrolling interest	206,653	192,777
Total equity	985,129	892,170
Total liabilities and equity	$ 1,480,600	$ 1,369,329

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred stock, authorized	1,000,000	1,000,000
Preferred stock, issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, outstanding	32,029,580	32,004,660
Treasury stock, shares	9,981,665	9,981,665

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 424,629	$ 367,969	$ 1,090,821	$ 988,936
Cost of sales	153,469	132,962	396,519	362,568
Gross margin	271,160	235,007	694,302	626,368
Selling, general and administrative expenses	165,166	147,805	455,506	393,866
Income from operations	105,994	87,202	238,796	232,502
Other expenses (income):
Interest expense	1,978	2,397	5,726	7,030
Loss (gain) on foreign currency	3,355	(669)	3,085	(656)
Interest and investment loss (income)	254	(1,062)	(1,690)	(8,421)
Other loss (income)	1	(77)	(35)	(125)
Nonoperating Income (Expense)	5,588	589	7,086	(2,172)
Income before income taxes	100,406	86,613	231,710	234,674
Income taxes	23,571	20,493	54,974	55,128
Net income	76,835	66,120	176,736	179,546
Less:  Net income attributable to the noncontrolling interest	14,576	12,906	36,606	37,312
Net income attributable to Interparfums, Inc.	$ 62,259	$ 53,214	$ 140,130	$ 142,234
Net income attributable to Interparfums, Inc. common shareholders:
Basic	$ 1.94	$ 1.66	$ 4.37	$ 4.44
Diluted	$ 1.93	$ 1.66	$ 4.34	$ 4.42
Weighted average number of shares outstanding:
Basic	32,026	31,976	32,030	32,000
Diluted	32,266	32,124	32,266	32,149
Dividends declared per share	$ 0.75	$ 0.625	$ 2.25	$ 1.875

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Comprehensive income:
Net income	$ 76,835	$ 66,120	$ 176,736	$ 179,546
Other comprehensive income:
Net derivative instrument loss, net of tax	(239)	(363)	(1,411)	(4,606)
Transfer from OCI into earnings	0	0	(64)	1,709
Translation adjustments, net of tax	31,385	(15,692)	10,891	(2,657)
Comprehensive income	107,981	50,065	186,152	173,992
Comprehensive income attributable to the noncontrolling interests:
Net income	14,576	12,906	36,606	37,312
Other comprehensive income:
Net derivative instrument loss, net of tax	(66)	(100)	(388)	(327)
Translation adjustments, net of tax	8,989	(4,892)	2,257	(1,481)
Comprehensive income attributable to the noncontrolling interests	23,499	7,914	38,475	35,504
Comprehensive income attributable to Interparfums, Inc.	$ 84,482	$ 42,151	$ 147,677	$ 138,488

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2022		$ 32	$ 90,186	$ 620,095	$ (56,056)	$ (37,475)	$ 171,364
Shares issued upon exercise of stock options			5,523
Share-based compensation			935	820			133
Transfer of subsidiary shares purchased			(892)				(142)
Net income	$ 179,546			142,234			37,312
Dividends				(60,058)			(20,301)
Foreign currency translation adjustment, net of tax					(1,176)		(1,481)
Transfer from other comprehensive income into earnings					1,709
Net derivative instrument loss, net of tax					(4,279)		(327)
Shares repurchased						(11,289)
Ending Balance at Sep. 30, 2023	876,867	32	95,752	703,091	(59,802)	(48,764)	186,558
Beginning Balance at Jun. 30, 2023		32	95,984	669,688	(48,739)	(48,764)	178,733
Shares issued upon exercise of stock options			332
Share-based compensation			311	227			36
Transfer of subsidiary shares purchased			(875)				(125)
Net income	66,120			53,214			12,906
Dividends				(20,038)			0
Foreign currency translation adjustment, net of tax					(10,800)		(4,892)
Transfer from other comprehensive income into earnings					0
Net derivative instrument loss, net of tax					(263)		(100)
Shares repurchased						0
Ending Balance at Sep. 30, 2023	876,867	32	95,752	703,091	(59,802)	(48,764)	186,558
Beginning Balance at Dec. 31, 2023	892,170	32	98,565	693,848	(40,188)	(52,864)	192,777
Shares issued upon exercise of stock options			1,729
Share-based compensation			780	833			179
Transfer of subsidiary shares purchased			49				(49)
Net income	176,736			140,130			36,606
Dividends				(71,985)			(24,729)
Foreign currency translation adjustment, net of tax					8,634		2,257
Transfer from other comprehensive income into earnings					(64)
Net derivative instrument loss, net of tax					(1,023)		(388)
Shares repurchased						0
Ending Balance at Sep. 30, 2024	985,129	32	101,123	762,826	(32,641)	(52,864)	206,653
Beginning Balance at Jun. 30, 2024		32	100,505	724,268	(54,864)	(52,864)	184,129
Shares issued upon exercise of stock options			359
Share-based compensation			259	321			47
Transfer of subsidiary shares purchased			0				0
Net income	76,835			62,259			14,576
Dividends				(24,022)			(1,022)
Foreign currency translation adjustment, net of tax					22,396		8,989
Transfer from other comprehensive income into earnings					0
Net derivative instrument loss, net of tax					(173)		(66)
Shares repurchased						0
Ending Balance at Sep. 30, 2024	$ 985,129	$ 32	$ 101,123	$ 762,826	$ (32,641)	$ (52,864)	$ 206,653

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 176,736	$ 179,546
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	18,201	12,781
Provision for doubtful accounts	613	(560)
Noncash stock compensation	1,768	1,887
Share of income of equity investment	(109)	(125)
Noncash lease expense	4,533	4,163
Deferred tax provision	(4,909)	(5,075)
Change in fair value of derivatives	(153)	740
Changes in:
Accounts receivable	(102,576)	(96,076)
Inventories	(35,237)	(76,786)
Other assets	3,770	3,077
Operating lease liabilities	(4,378)	(4,044)
Accounts payable and accrued expenses	(17,571)	(10,919)
Income taxes, net	8,993	15,669
Net cash provided by operating activities	49,681	24,278
Cash flows from investing activities:
Purchases of short-term investments	(146,868)	(145,427)
Proceeds from sale of short-term investments	162,176	192,568
Purchases of property, equipment and leasehold improvements	(2,889)	(4,574)
Payment for intangible assets acquired	(850)	(2,063)
Net cash provided by investing activities	11,569	40,504
Cash flows from financing activities:
Proceeds from loans payable, bank	4,348	4,501
Proceeds from issuance of long-term debt	43,484	13,680
Repayment of long-term debt	(24,781)	(22,527)
Proceeds from exercise of options	1,729	5,523
Dividends paid	(71,985)	(60,058)
Dividends paid to noncontrolling interest	(24,729)	(20,301)
Purchase of treasury stock	0	(11,289)
Net cash used in financing activities	(71,934)	(90,471)
Effect of exchange rate changes on cash	641	740
Net decrease in cash and cash equivalents	(10,043)	(24,949)
Cash and cash equivalents - beginning of period	88,462	104,713
Cash and cash equivalents - end of period	78,419	79,764
Cash paid for:
Interest	6,578	4,659
Income taxes	$ 48,643	$ 44,693

Significant Accounting Policies

Significant Accounting Policies:	9 Months Ended
	Sep. 30, 2024
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, 2023

Recent Agreements_

Recent Agreements:	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Recent Agreements:	2. Recent Agreements Van Cleef & Arpels In 2006, Van Cleef & Arpels and Interparfums SA signed a 12-year worldwide license agreement to manufacture and distribute perfumes and related products under the Van Cleef & Arpels brand name, which was subsequently extended for a further six years until December 31, 2024. Discussions have been underway since 2023 with a view to renewing the license agreement. The new agreement will strengthen the selective distribution of Van Cleef & Arpels fragrances worldwide. The license is to be renewed for an additional 9-year term, beginning January 1, 2025. Abercrombie & Fitch In 2023 one , Fierce Fierce Fierce Roberto Cavalli In July 2023, we closed a transaction agreement with Roberto Cavalli, whereby an exclusive and worldwide license was granted for the production and distribution of Roberto Cavalli brand perfumes and fragrance related products. Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. The license became effective in July 2023 and will last for 6.5 years. Lacoste In December 2022, we closed a transaction agreement with Lacoste, whereby an exclusive and worldwide license was granted for the production and distribution of Lacoste brand perfumes and cosmetics. Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. The license became effective in January 2024 and will last for 15 years. We began shipping Lacoste fragrances in January 2024. Dunhill The Dunhill fragrance license expired on September 30, 2023 and was not renewed. The Company had a twelve Rochas Fashion As a result of operational challenges faced by the Rochas Fashion business in prior years, we took a $2.4 million impairment charge and a $6.8 million impairment charge on our Rochas Fashion trademark in the first quarter of 2021 2022 2023 2024 2024 Land and Building Acquisition - Headquarters in Paris In April 2021, Interparfums SA, our 72 10 7 The purchase price included the complete renovation of the site. As of September 30, 2024 156 3 64.1 91.9 7 50 The acquisition was financed by a 10 120 134.4 one-month Euribor plus 0.75% 80 2 1.1

Recent Accounting Pronouncement

Recent Accounting Pronouncements:	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements:	3. Recent Accounting Pronouncements: In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU updates reportable segment disclosure requirements, primarily through requiring enhanced disclosures about significant segment expenses and information used to assess segment performance and allocate resources. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods for fiscal years beginning after December 15, 2024, on a retrospective basis. Early adoption is permitted. We are currently evaluating the impact of adopting this ASU on our disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU includes amendments requiring enhanced income tax disclosures, primarily related to standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted and shall be applied on a prospective basis with the option to apply retrospectively. We are currently evaluating the impact of adopting this ASU on our disclosures. There are no other recent accounting pronouncements issued but not yet adopted that would have a material effect on our consolidated financial statements.

Inventories_

Inventories:	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories:	4. Inventories: Inventories consist of the following: (In thousands) September 30, 2024 December 31, 2023 Raw materials and component parts $ 152,302 $ 158,733 Finished goods 260,456 213,126 $ 412,758 $ 371,859

Fair Value Measurement_

Fair Value Measurement:	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurement:	5. Fair Value Measurement: The following tables present our financial assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three Fair Value Measurements at September 30, 2024 Total Quoted Prices in Active Markets for Identical Assets (Level 1 Significant Other Observable Inputs (Level 2 Significant Unobservable Inputs (Level 3 Assets: Short-term investments $ 78,783 $ 8,940 $ 69,843 $ — Interest rate swaps 2,462 — 2,462 — Foreign currency forward exchange contracts not accounted for using hedge accounting 225 — 225 — $ 81,470 $ 8,940 $ 72,530 $ — Liabilities: Foreign currency forward exchange contracts accounted for using hedge accounting 216 — 216 — $ 216 $ — $ 216 $ — Fair Value Measurements at December 31, 2023 Total Quoted Prices in 1 Significant Other 2 Significant 3 Assets: Short-term investments $ 94,304 $ 12,868 $ 80,614 $ 822 Interest rate swaps 3,909 — 3,909 — Foreign currency forward exchange contracts not accounted for using hedge accounting 359 — 359 — Foreign currency forward exchange contracts accounted for using hedge accounting 1,533 — 1,533 — $ 100,105 $ 12,868 $ 86,415 $ 822 The carrying amount of cash and cash equivalents, short-term investments including money market funds and marketable equity securities, accounts receivable, other receivables, 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 is 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, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments:	6. Derivative Financial Instruments: The Company enters into fo reign 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 December 2022, to finance the acquisition of the Lacoste trademark, the Company entered into a € 50 56 million 4 2 In connection with the April 2021 acquisition of the office building complex in Paris, € 120 134.4 10 80 1.1 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 loss (gain) on foreign currency on the accompanying consolidated statements of income. Such gains and losses were immaterial for the three and nine months ended September 30, 2024 2023 All derivative instruments are reported as either assets or liabilities on the consolidated balance sheet measured at fair value. The valuation of interest rate swaps is included in long-term debt on the accompanying consolidated balance sheet. The valuation of foreign currency forward exchange contracts at September 30, 2024 At September 30, 2024 USD $21

Leases_

Leases:	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases:	7. Leases: The Com pany 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, 2024 4.2 3 1.6 million 4.9 million nine months ended September 30, 2024 as compared to $1.5 million and $4.5 million for the corresponding periods of the prior year. 4.4 million 4.0 million nine months ended September 30, 2024 2023 and noncash additions to operating lease assets totaled $ 1.2 nine months ended September 30, 2024 2023

Share-Based Payments_

Share-Based Payments:	9 Months Ended
	Sep. 30, 2024
Equity:
Share-Based Payments:	8. Share-Based Payments: The Company maintains a stock option program for key employees, executives and directors. The plans, all of which have been approved by shareholder vote, provide for the granting of both nonqualified and incentive options. Options granted under the plans typically have a six-year term and vest over a four five nine months ended September 30, 2024 2023 0.04 million 0.10 million The following table sets forth information with respect to nonvested options for the nine months ended September 30, 2024 Number of Shares Weighted Average Grant-Date Fair Value Nonvested options – beginning of period 122,100 $ 24.47 Nonvested options granted — — Nonvested options vested or forfeited (3,380 ) $ 12.02 Nonvested options – end of period 118,720 $ 24.83 Share-based payment expense decreased income before income taxes by $0.60 million and $1.77 million for the three and nine months ended September 30, 2024 as compared to $0.62 0.4 million 1.17 million nine months ended September 30, 2024 The following table summarizes stock option information as of September 30, 2024 Shares Weighted Average Outstanding at January 1, 2024 308,970 $ 86.52 Options forfeited (380 ) 73.09 Options exercised (24,920 ) 69.39 Outstanding at September 30, 2024 283,670 $ 88.04 Options exercisable 164,950 $ 70.69 Options available for future grants 537,745 As of September 30, 2024 2.23 0.96 12.6 million 9.7 million 2.2 Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2024 2023 (In thousands) September 30, 2024 September 30, 2023 Cash proceeds from stock options exercised $ 1,729 $ 5,523 Tax benefits 272 900 Intrinsic value of stock options exercised 1,721 6,135 There were no nine months ended September 30, 2024 September 30, 2023 Expected volatility is estimated based on historic volatility of the Company’s common stock. The expected term of the option is estimated based on historical 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 maintain its current payout ratio as a percentage of earnings. In March 2022, Interparfums SA, our 72% owned French Subsidiary, approved a plan to grant an aggregate of 88,400 shares of its stock to all Interparfums SA employees and corporate officers having more than six months of employment at grant date, subject to certain corporate performance conditions. The shares, subject to adjustment for stock splits, will be distributed in June 2025. The fair value of the grant had been determined based on the quoted stock price of Interparfums SA shares as reported by the Euronext on the date of grant. The estimated number of shares to be distributed of 103,409 4.2 million In order to avoid dilution of the Company’s ownership of Interparfums SA, all shares distributed or to be distributed pursuant to these plans will be pre-existing shares of Interparfums SA, purchased in the open market by Interparfums SA. As of September 30, 2024 96,371 4.1 million All share purchases and issuances have been classified as equity transactions on the accompanying balance sheet.

Net Income Attributable to Inte

Net Income Attributable to Inter Parfums, Inc. Common Shareholders:	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income Attributable to Inter Parfums, Inc. Common Shareholders:	9. Net Income Attributable to Interparfums, Inc. Common Shareholders: Net income attributable to Interparfums, Inc. per common share (“basic EPS”) is computed by dividing net income attributable to Interparfums, Inc. by the weighted average number of shares outstanding. Net income attributable to Interparfums, 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: Three months ended Nine months ended (In thousands) September 30, September 30, 2024 2023 2024 2023 Numerator: Net income attributable to Interparfums, Inc. $ 62,259 $ 53,214 $ 140,130 $ 142,234 Denominator: Weighted average shares 32,026 31,976 32,030 32,000 Effect of dilutive securities: Stock options 240 148 236 149 Denominator for diluted earnings per share 32,266 32,124 32,266 32,149 Earnings per share: Net income attributable to Interparfums, Inc. common shareholders: Basic $ 1.94 $ 1.66 $ 4.37 $ 4.44 Diluted $ 1.93 $ 1.66 $ 4.34 $ 4.42 Not included in the above computations are the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.05 million shares of common stock for the three and nine months ended September 30, 2024 nine months ended September 30, 2023

Segment and Geographic Areas_

Segment and Geographic Areas:	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment and Geographic Areas:	10. Segment and Geographic Areas: The Company manufactures and distributes one two Luxury Brands, ., located in the United States. Information on our operations by segments is as follows: (In thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net sales: United States $ 146,101 $ 134,469 $ 362,059 $ 327,359 Europe 282,481 233,500 739,454 661,577 Eliminations of intercompany sales (3,953 ) — (10,692 ) — $ 424,629 $ 367,969 $ 1,090,821 $ 988,936 Net income attributable to Interparfums, Inc.: United States $ 24,263 $ 20,157 $ 49,015 $ 46,067 Europe 39,869 33,057 95,966 96,167 Eliminations (1,873 ) — (4,851 ) — $ 62,259 $ 53,214 $ 140,130 $ 142,234 Eliminations of intercompany sales relate to European based operations products sold to United States based operations. September 30, December 31, 2024 2023 Total Assets: United States $ 368,375 $ 344,341 Europe 1,130,308 1,066,684 Eliminations (18,083 ) (41,696 ) $ 1,480,600 $ 1,369,329

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Inventories_ (Tables)

Inventories: (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories consist of the following:	Inventories consist of the following: (In thousands) September 30, 2024 December 31, 2023 Raw materials and component parts $ 152,302 $ 158,733 Finished goods 260,456 213,126 $ 412,758 $ 371,859

Fair Value Measurement_ (Tables

Fair Value Measurement: (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
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 Fair Value Measurements at September 30, 2024 Total Quoted Prices in Active Markets for Identical Assets (Level 1 Significant Other Observable Inputs (Level 2 Significant Unobservable Inputs (Level 3 Assets: Short-term investments $ 78,783 $ 8,940 $ 69,843 $ — Interest rate swaps 2,462 — 2,462 — Foreign currency forward exchange contracts not accounted for using hedge accounting 225 — 225 — $ 81,470 $ 8,940 $ 72,530 $ — Liabilities: Foreign currency forward exchange contracts accounted for using hedge accounting 216 — 216 — $ 216 $ — $ 216 $ — Fair Value Measurements at December 31, 2023 Total Quoted Prices in 1 Significant Other 2 Significant 3 Assets: Short-term investments $ 94,304 $ 12,868 $ 80,614 $ 822 Interest rate swaps 3,909 — 3,909 — Foreign currency forward exchange contracts not accounted for using hedge accounting 359 — 359 — Foreign currency forward exchange contracts accounted for using hedge accounting 1,533 — 1,533 — $ 100,105 $ 12,868 $ 86,415 $ 822

Share-Based Payments_ (Tables)

Share-Based Payments: (Tables)	9 Months Ended
	Sep. 30, 2024
Equity:
The following table sets forth information with respect to nonvested options for the three months ended March 31, 2024:	The following table sets forth information with respect to nonvested options for the nine months ended September 30, 2024 Number of Shares Weighted Average Grant-Date Fair Value Nonvested options – beginning of period 122,100 $ 24.47 Nonvested options granted — — Nonvested options vested or forfeited (3,380 ) $ 12.02 Nonvested options – end of period 118,720 $ 24.83
The following table summarizes stock option information as of March 31, 2024:	The following table summarizes stock option information as of September 30, 2024 Shares Weighted Average Outstanding at January 1, 2024 308,970 $ 86.52 Options forfeited (380 ) 73.09 Options exercised (24,920 ) 69.39 Outstanding at September 30, 2024 283,670 $ 88.04 Options exercisable 164,950 $ 70.69 Options available for future grants 537,745
Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the three months ended March 31, 2024 and 2023 were as follows:	Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2024 2023 (In thousands) September 30, 2024 September 30, 2023 Cash proceeds from stock options exercised $ 1,729 $ 5,523 Tax benefits 272 900 Intrinsic value of stock options exercised 1,721 6,135

Net Income Attributable to In_2

Net Income Attributable to Inter Parfums, Inc. Common Shareholders: (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
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: Three months ended Nine months ended (In thousands) September 30, September 30, 2024 2023 2024 2023 Numerator: Net income attributable to Interparfums, Inc. $ 62,259 $ 53,214 $ 140,130 $ 142,234 Denominator: Weighted average shares 32,026 31,976 32,030 32,000 Effect of dilutive securities: Stock options 240 148 236 149 Denominator for diluted earnings per share 32,266 32,124 32,266 32,149 Earnings per share: Net income attributable to Interparfums, Inc. common shareholders: Basic $ 1.94 $ 1.66 $ 4.37 $ 4.44 Diluted $ 1.93 $ 1.66 $ 4.34 $ 4.42

Segment and Geographic Areas_ (

Segment and Geographic Areas: (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Information on our operations by segments is as follows:	Information on our operations by segments is as follows: (In thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net sales: United States $ 146,101 $ 134,469 $ 362,059 $ 327,359 Europe 282,481 233,500 739,454 661,577 Eliminations of intercompany sales (3,953 ) — (10,692 ) — $ 424,629 $ 367,969 $ 1,090,821 $ 988,936 Net income attributable to Interparfums, Inc.: United States $ 24,263 $ 20,157 $ 49,015 $ 46,067 Europe 39,869 33,057 95,966 96,167 Eliminations (1,873 ) — (4,851 ) — $ 62,259 $ 53,214 $ 140,130 $ 142,234 Eliminations of intercompany sales relate to European based operations products sold to United States based operations. September 30, December 31, 2024 2023 Total Assets: United States $ 368,375 $ 344,341 Europe 1,130,308 1,066,684 Eliminations (18,083 ) (41,696 ) $ 1,480,600 $ 1,369,329

Recent Agreements_ (Details Nar

Recent Agreements: (Details Narrative) € in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 EUR (€)	Mar. 31, 2022	Apr. 30, 2021 ft² Number
Business Acquisition [Line Items]
Purchase price, period cost			$ 156	€ 139
Acquisition costs, period cost			$ 3
Long-term debt, term	4 years		10 years		10 years		10 years
Long-term line of credit			$ 134.4		€ 120
Description of debt instrument interest rate terms			one-month Euribor plus 0.75%	one-month Euribor plus 0.75%
Debt instrument, face amount | €					€ 80
Variable interest rate			2%		2%
Fixed interest rate			1.10%		1.10%
Minimum [Member]
Business Acquisition [Line Items]
Depreciated over a range			7 years		7 years
Maximum [Member]
Business Acquisition [Line Items]
Depreciated over a range			50 years		50 years
Land [Member]
Business Acquisition [Line Items]
Purchase price, period cost			$ 64.1	€ 57
Building [Member]
Business Acquisition [Line Items]
Purchase price, period cost			$ 91.9	€ 82
Interparfums SA [Member]
Business Acquisition [Line Items]
Ownership percentage						72%	72%
Number of buildings | Number							3
Number of inner courtyards | Number							2
Area of Real Estate Property | ft²							40,000
Van Cleef and Arpels [Member]
Business Acquisition [Line Items]
Description of recent agreement			In 2006, Van Cleef & Arpels and Interparfums SA signed a 12-year worldwide license agreement to manufacture and distribute perfumes and related products under the Van Cleef & Arpels brand name, which was subsequently extended for a further six years until December 31, 2024. Discussions have been underway since 2023 with a view to renewing the license agreement. The new agreement will strengthen the selective distribution of Van Cleef & Arpels fragrances worldwide. The license is to be renewed for an additional 9-year term, beginning January 1, 2025.	In 2006, Van Cleef & Arpels and Interparfums SA signed a 12-year worldwide license agreement to manufacture and distribute perfumes and related products under the Van Cleef & Arpels brand name, which was subsequently extended for a further six years until December 31, 2024. Discussions have been underway since 2023 with a view to renewing the license agreement. The new agreement will strengthen the selective distribution of Van Cleef & Arpels fragrances worldwide. The license is to be renewed for an additional 9-year term, beginning January 1, 2025.
Roberto Cavalli [Member]
Business Acquisition [Line Items]
Description of recent agreement			The license became effective in July 2023 and will last for 6.5 years.	The license became effective in July 2023 and will last for 6.5 years.
Lacoste Member
Business Acquisition [Line Items]
Description of recent agreement			The license became effective in January 2024 and will last for 15 years	The license became effective in January 2024 and will last for 15 years
Rochas Fashion [Member] | Trademarks [Member]
Business Acquisition [Line Items]
Impairment of intangible assets	$ 6.8	$ 2.4
Net book value for finite-lived Intangible assets			$ 11.9

Inventories consist of the foll

Inventories consist of the following: (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and component parts	$ 152,302	$ 158,733
Finished goods	260,456	213,126
Inventories	$ 412,758	$ 371,859

The fair value hierarchy has th

The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Short-term investments	$ 78,783	$ 94,304
Interest rate swaps	2,462	3,909
Foreign currency forward exchange contracts not accounted for using hedge accounting	225	359
Foreign currency forward exchange contracts accounted for using hedge accounting		1,533
Total assets at fair value	81,470	100,105
Liabilities:
Foreign currency forward exchange contracts accounted for using hedge accounting	216
Total liabilities at fair value	216
Fair Value, Inputs, Level 1 [Member]
Assets:
Short-term investments	8,940	12,868
Interest rate swaps	0	0
Foreign currency forward exchange contracts not accounted for using hedge accounting	0	0
Foreign currency forward exchange contracts accounted for using hedge accounting		0
Total assets at fair value	8,940	12,868
Liabilities:
Foreign currency forward exchange contracts accounted for using hedge accounting	0
Total liabilities at fair value	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Short-term investments	69,843	80,614
Interest rate swaps	2,462	3,909
Foreign currency forward exchange contracts not accounted for using hedge accounting	225	359
Foreign currency forward exchange contracts accounted for using hedge accounting		1,533
Total assets at fair value	72,530	86,415
Liabilities:
Foreign currency forward exchange contracts accounted for using hedge accounting	216
Total liabilities at fair value	216
Fair Value, Inputs, Level 3 [Member]
Assets:
Short-term investments	0	822
Interest rate swaps	0	0
Foreign currency forward exchange contracts not accounted for using hedge accounting	0	0
Foreign currency forward exchange contracts accounted for using hedge accounting		0
Total assets at fair value	0	$ 822
Liabilities:
Foreign currency forward exchange contracts accounted for using hedge accounting	0
Total liabilities at fair value	$ 0

Derivative Financial Instrume_2

Derivative Financial Instruments: (Details Narrative) € in Millions, £ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 GBP (£)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Apr. 30, 2021 USD ($)	Apr. 30, 2021 EUR (€)
Derivative Instruments, Gain (Loss) [Line Items]
Loan amount			$ 56	€ 50	$ 134.4	€ 120
Long-term debt, term	10 years	10 years	4 years	4 years	10 years	10 years
Derivative swap interest rate			2%	2%	1.10%	1.10%
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loan amount | €						€ 80
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loan amount | £		£ 7
Forward exchange contracts | $	$ 21
Maturity of foreign currency	1 year

Leases_ (Details Narrative)

Leases: (Details Narrative) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease, weighted average remaining lease term	4 years 2 months 12 days		4 years 2 months 12 days
Operating lease, weighted average discount rate, percent	3%		3%
Operating leases, rent expense	$ 1.6	$ 1.5	$ 4.9	$ 4.5
Operating Lease, Payments			4.4	4
Noncash additions to operating lease assets			$ 1.2	$ 5.7

The following table sets forth

The following table sets forth information with respect to nonvested options for the six months ended June 30, 2024: (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Equity:
Nonvested options - beginning of year | shares	122,100
Weighted average grant date fair value, beginning of year | $ / shares	$ 24.47
Nonvested options granted | shares	0
Weighted average grant date fair value, granted | $ / shares	$ 0
Nonvested options vested or forfeited | shares	(3,380)
Weighted average grant date fair value, vested or forfeited | $ / shares	$ 12.02
Nonvested options - end of year | shares	118,720
Weighted average grant date fair value, end of year | $ / shares	$ 24.83

The following table summarizes

The following table summarizes stock option information as of June 30, 2024: (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Equity:
Options shares under option - beginning of year	308,970
Weighted average exercise price shares under option - beginning of year | $ / shares	$ 86.52
Options forfeited	(380)
Weighted average exercise price options forfeited | $ / shares	$ 73.09
Options exercised	(24,920)
Weighted average exercise price options exercised | $ / shares	$ 69.39
Options shares under option - end of year	283,670
Weighted average exercise price shares under option - end of year | $ / shares	$ 88.04
Options exercisable	164,950
Weighted average exercise price options exercisable | $ / shares	$ 70.69
Options available for future grants	537,745

Cash proceeds, tax benefits and

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the six months ended June 30, 2024 and 2023 were as follows: (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Equity:
Cash proceeds from stock options exercised	$ 1,729	$ 5,523
Tax benefits	272	900
Intrinsic value of stock options exercised	$ 1,721	$ 6,135

Share-Based Payments_ (Details

Share-Based Payments: (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2022	Apr. 30, 2021
Subsidiary or Equity Method Investee [Line Items]
Share-based payment expense	$ 600	$ 620	$ 1,768	$ 1,887
Share-based payment arrangement, expense	400	$ 410	$ 1,170	$ 1,270
Weighted average remaining contractual life of options outstanding (in years)			2 years 2 months 23 days
Weighted average remaining contractual life of options exercisable (in years)			11 months 15 days
Aggregate intrinsic value of options outstanding and options outstanding	12,600		$ 12,600
Aggregate intrinsic value of options outstanding and options exercisable	9,700		9,700
Unrecognized compensation cost	$ 2,200		$ 2,200
Options granted			0	0
Interparfums SA [Member]
Subsidiary or Equity Method Investee [Line Items]
Ownership percentage					72%	72%
Interparfums SA Subsidiary [Member]
Subsidiary or Equity Method Investee [Line Items]
Recognized as compensation cost			$ 4,200
Interparfums SA Subsidiary [Member] | Employees [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of share distributed			103,409
Recognized as compensation cost			$ 4,100
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	96,371		96,371		88,400
Equity Option [Member]
Subsidiary or Equity Method Investee [Line Items]
Fair value of shares vested			$ 40	$ 100
Minimum [Member] | Equity Option [Member]
Subsidiary or Equity Method Investee [Line Items]
Options vesting period			4 years
Maximum [Member] | Equity Option [Member]
Subsidiary or Equity Method Investee [Line Items]
Options 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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income attributable to Interparfums, Inc. (in dollars)	$ 62,259	$ 53,214	$ 140,130	$ 142,234
Denominator:
Weighted average shares	32,026	31,976	32,030	32,000
Effect of dilutive securities:
Stock options	240	148	236	149
Denominator for diluted earnings per share	32,266	32,124	32,266	32,149
Net income attributable to Interparfums, Inc. common shareholders:
Basic (in dollars per share)	$ 1.94	$ 1.66	$ 4.37	$ 4.44
Diluted (in dollars per share)	$ 1.93	$ 1.66	$ 4.34	$ 4.42
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	50,000	0	50,000	0

Information on our operations b

Information on our operations by segments is as follows: (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 424,629	$ 367,969	$ 1,090,821	$ 988,936
Net income attributable to Inter Parfums, Inc	62,259	53,214	140,130	142,234
Total assets	1,480,600		$ 1,480,600		$ 1,369,329
Number of Product Lines			1
Number of Operating Segments			2
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	146,101	134,469	$ 362,059	327,359
Net income attributable to Inter Parfums, Inc	24,263	20,157	49,015	46,067
Total assets	368,375		368,375		344,341
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	282,481	233,500	739,454	661,577
Net income attributable to Inter Parfums, Inc	39,869	33,057	95,966	96,167
Total assets	1,130,308		1,130,308		1,066,684
Eliminations [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(3,953)	0	(10,692)	0
Net income attributable to Inter Parfums, Inc	(1,873)	$ 0	(4,851)	$ 0
Total assets	$ (18,083)		$ (18,083)		$ (41,696)