Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 26, 2014 | Jun. 30, 2012 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'STEVEN MADDEN, LTD. | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 66,841,151 | ' |
Entity Public Float | ' | ' | $2,147,439,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000913241 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $180,275 | $168,777 |
Accounts receivable, net of allowances of $2,594 and $4,581 | 89,200 | 75,545 |
Factor accounts receivable, net of allowances of $17,818 and $17,856 | 96,223 | 92,156 |
Inventories | 73,696 | 63,683 |
Marketable securities – available for sale | 20,591 | 16,285 |
Prepaid expenses and other current assets | 17,194 | 13,404 |
Prepaid taxes | 7,199 | 331 |
Deferred taxes | 12,267 | 11,073 |
Total current assets | 496,645 | 441,254 |
Notes receivable | 3,171 | 3,085 |
Note receivable – related party | 3,581 | 3,581 |
Property and equipment, net | 56,606 | 45,285 |
Deposits and other | 3,276 | 2,305 |
Marketable securities – available for sale | 91,267 | 81,202 |
Goodwill – net | 96,132 | 91,559 |
Intangibles – net | 129,563 | 135,768 |
Total Assets | 880,241 | 804,039 |
Current liabilities: | ' | ' |
Accounts payable | 99,126 | 83,427 |
Accrued expenses | 37,099 | 31,782 |
Contingent Consideration, Liability, Current Portion | 10,695 | 11,551 |
Business Combination, Contingent Consideration, Liability | 24,100 | 30,409 |
Accrued incentive compensation | 7,583 | 7,718 |
Total current liabilities | 154,503 | 134,478 |
Deferred rent | 9,435 | 7,521 |
Deferred taxes | 13,224 | 5,117 |
Other liabilities | 139 | 114 |
Total Liabilities | 201,401 | 177,639 |
Commitments, contingencies and other | ' | ' |
STOCKHOLDERS’ EQUITY | ' | ' |
Common stock – $.0001 par value, 135,000 shares authorized, 82,941 and 81,795 shares issued, 67,336 and 69,191 shares outstanding | 7 | 5 |
Additional paid-in capital | 247,858 | 217,638 |
Retained earnings | 672,044 | 540,037 |
Accumulated other comprehensive income | -6,677 | 1,443 |
Treasury stock – 15,605 and 12,605 shares at cost | -234,715 | -132,543 |
Total Steven Madden, Ltd. stockholders’ equity | 678,517 | 626,580 |
Non-controlling interests | 323 | -180 |
Total stockholders’ equity | 678,840 | 626,400 |
Total Liabilities and Stockholders’ Equity | 880,241 | 804,039 |
Preferred Stock [Member] | ' | ' |
STOCKHOLDERS’ EQUITY | ' | ' |
Preferred stock – $.0001 par value, 5,000 shares authorized; none issued; Series A Junior Participating preferred stock – $.0001 par value, 60 shares authorized; none issued | $0 | $0 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowances for Accounts Receivable (in dollars) | $2,594 | $4,581 |
Allowances for Due from Factors (in dollars) | $17,818 | $17,856 |
Preferred stock-issued | 0 | 0 |
Common stock par value | $0.00 | $0.00 |
Common stock, shares authorized | 135,000,000 | 135,000,000 |
Common stock, shares issued | 82,941,000 | 81,795,000 |
Common stock, shares outstanding | 67,336,000 | 69,191,000 |
Treasury stock-shares at cost | 15,605,000 | 12,605,000 |
Preferred Class A [Member] | ' | ' |
Preferred stock-par value | $0.00 | $0.00 |
Preferred stock- shares authorized | 5,000,000 | 5,000,000 |
Preferred Class B [Member] | ' | ' |
Preferred stock-par value | $0.00 | $0.00 |
Preferred stock- shares authorized | 60,000 | 60,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Net sales | $1,314,223 | $1,227,072 | $968,549 |
Cost of sales | 831,847 | 771,370 | 606,601 |
Gross profit | 482,376 | 455,702 | 361,948 |
Commission and licensing fee income – net | 15,632 | 15,395 | 18,715 |
Operating expenses | -295,223 | -283,689 | -226,893 |
Impairment charges and provision for litigation | 983 | -8,432 | 0 |
Income from operations | 203,768 | 178,976 | 153,770 |
Interest income | 4,228 | 3,067 | 4,885 |
Interest Expense, Other | -128 | -49 | -51 |
Other Nonoperating Income (Expense) | 1,083 | 2,193 | 188 |
Income before provision for income taxes | 208,951 | 184,187 | 158,792 |
Provision for income taxes | 75,666 | 64,623 | 61,591 |
Net income | 133,285 | 119,564 | 97,201 |
Net (income) loss attributable to non-controlling interests | -1,278 | 62 | 118 |
Net income attributable to Steven Madden, Ltd. | $132,007 | $119,626 | $97,319 |
Basic net income per share (in dollars per share) | $2.04 | $1.85 | $1.53 |
Diluted net income per share (in dollars per share) | $1.98 | $1.81 | $1.50 |
Basic weighted average common shares outstanding (in shares) | 64,583 | 64,529 | 63,396 |
Effect of dilutive securities – options/restricted stock (in shares) | 2,253 | 1,726 | 1,463 |
Diluted weighted average common shares outstanding (in shares) | 66,836 | 66,255 | 64,859 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $133,285 | $119,564 | $97,201 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation adjustment, Pre-tax | -4,282 | -21 | -209 |
Foreign currency translation adjustment, Tax | 0 | 0 | 0 |
Foreign currency translation adjustment, Net | -4,282 | -21 | -209 |
Gains on cash flow hedging derivatives, Pre-tax | -622 | 162 | ' |
Gains on cash flow hedging derivatives, Tax | 252 | -75 | ' |
Gains on cash flow hedging derivatives, Net | -370 | 87 | ' |
Unrealized gain (loss) on marketable securities, Pre-tax | -5,685 | 1,146 | -139 |
Unrealized gain (loss) on marketable securities, Tax | 2,217 | -447 | 54 |
Unrealized gain (loss) on marketable securities, Net | -3,468 | 699 | -85 |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | ' | 87 | ' |
Total Other Comprehensive Income (Loss), Pre-tax | -10,589 | 1,287 | -348 |
Total Other Comprehensive Income (Loss), Tax | 2,469 | -522 | 54 |
Total Other Comprehensive Income(Loss), Net | -8,120 | 765 | -294 |
Comprehensive income | 125,165 | 120,329 | 96,907 |
Comprehensive income attributable to non-controlling interests | -1,278 | 62 | 118 |
Comprehensive income attributable to Steven Madden, Ltd. | $123,887 | $120,391 | $97,025 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Accumulated other comprehensive income | ($6,677) | $1,443 | $678 | $972 |
Treasury Stock, Shares | 15,605,000 | 12,605,000 | 12,605,000 | 12,605,000 |
Treasury Stock, Value | -234,715 | -132,543 | 132,543 | 132,543 |
Non-controlling interests | 323 | -180 | -118 | ' |
Common stock – $.0001 par value, 135,000 shares authorized, 82,941 and 81,795 shares issued, 67,336 and 69,191 shares outstanding | 7 | 5 | 5 | 4 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Exercise of stock options (in Shares) | 563,000 | 874,500 | 658,500 | ' |
Exercise of stock options | ' | 9,271 | 4,995 | ' |
Tax benefit from exercise of options | ' | 4,608 | 4,154 | ' |
Tax Benefit from Stock Based Compensation | 4,277 | 4,608 | 4,154 | ' |
Issuance of fully vested restricted stock (in Shares) | 582,000 | ' | ' | ' |
Stock-based compensation | 20,141 | 17,434 | 11,404 | ' |
Unrealized holding gain on marketable securities net of taxes | ' | 699 | -85 | ' |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | ' | 87 | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | -775 | ' | ' | ' |
Net loss attributable to noncontrolling interests | 1,278 | -62 | -118 | ' |
Foreign currency translation adjustment | ' | -21 | -209 | ' |
Net income | 133,285 | 119,564 | 97,201 | ' |
Balance (in Shares) | 67,336,000 | ' | ' | ' |
Balance | 678,840 | 626,400 | 474,758 | 357,298 |
Additional paid-in capital | 247,858 | 217,638 | 186,325 | 165,773 |
Retained earnings | 672,044 | 540,037 | 420,411 | 323,092 |
Stock Repurchased During Period, Shares | 3,000,167 | ' | ' | ' |
Payments for Repurchase of Common Stock | -102,172 | 0 | 0 | ' |
Common Stock [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Exercise of stock options (in Shares) | 563,000 | 874,000 | 659,000 | ' |
Exercise of stock options | 2 | 0 | 1 | ' |
Issuance of fully vested restricted stock (in Shares) | ' | 3,809,000 | 819,000 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | ' | 0 | 0 | ' |
Balance (in Shares) | ' | 69,191,000 | 64,508,000 | 63,030,000 |
Stock Repurchased During Period, Shares | -3,000,000 | ' | ' | ' |
Additional Paid-in Capital [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Exercise of stock options | 5,802 | 9,271 | 4,994 | ' |
Tax benefit from exercise of options | 4,277 | 4,608 | 4,154 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | ' | 0 | 0 | ' |
Stock-based compensation | 20,141 | 17,434 | 11,404 | ' |
Retained Earnings [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Exercise of stock options | ' | 0 | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | ' | 0 | 0 | ' |
Net income | 132,007 | 119,626 | 97,319 | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Unrealized holding gain on marketable securities net of taxes | -3,468 | 699 | -85 | ' |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | -370 | ' | ' | ' |
Foreign currency translation adjustment | -4,282 | -21 | -209 | ' |
Stockholders' Equity, Total [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Exercise of stock options | 5,804 | ' | ' | ' |
Tax benefit from exercise of options | 4,277 | ' | ' | ' |
Stock-based compensation | 20,141 | ' | ' | ' |
Unrealized holding gain on marketable securities net of taxes | -3,468 | ' | ' | ' |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | -370 | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | -775 | ' | ' | ' |
Foreign currency translation adjustment | -4,282 | ' | ' | ' |
Net income | 133,285 | ' | ' | ' |
Balance | 678,840 | ' | ' | ' |
Payments for Repurchase of Common Stock | 102,172 | ' | ' | ' |
Treasury Stock [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Stock Repurchased During Period, Shares | 3,000,000 | ' | ' | ' |
Payments for Repurchase of Common Stock | ($102,172) | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Unrealized holding gain on marketable securities-taxes | $2,217 | ($447) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 252 | -75 |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' |
Unrealized holding gain on marketable securities-taxes | 447 | 54 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | ' | $75 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $133,285 | $119,564 | $97,201 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Stock-based compensation | 20,141 | 17,434 | 11,404 |
Tax benefit from stock based compensation | -4,277 | -4,608 | -4,154 |
Depreciation and amortization | 12,979 | 12,642 | 11,060 |
Loss on disposal of fixed assets | 905 | 250 | 726 |
Impairment charges | 0 | 5,932 | 0 |
Deferred taxes | 7,106 | 1,528 | 1,452 |
Provision for doubtful accounts and chargebacks | 0 | 4,218 | 2,961 |
Accrued interest on note receivable – related party | 0 | 509 | -241 |
Deferred rent expense | 1,914 | 1,538 | -357 |
Loss (gain) on sale of marketable securities | -1,083 | -2,110 | -1,254 |
Changes in: | ' | ' | ' |
Accounts receivable | -13,655 | 19,669 | -16,543 |
Due from factor | -4,067 | -35,670 | -9,336 |
Inventories | -10,013 | -1,819 | -9,210 |
Prepaid expenses, prepaid taxes, deposits and other | -8,484 | 1,557 | -2,068 |
Accounts payable and accrued expenses | 20,702 | 11,956 | -7,551 |
Accrued incentive compensation | 0 | -9,163 | 964 |
Other liabilities | 0 | -86 | -86 |
Net cash provided by operating activities | 155,453 | 143,341 | 74,968 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property and equipment | -20,746 | -20,102 | -15,477 |
Purchases of marketable securities | -63,310 | -63,822 | -17,968 |
Purchase of notes receivable | 0 | -1,562 | 0 |
Maturity/sale of marketable securities | 43,675 | 46,447 | 67,885 |
Refundable cash acquired from seller | 0 | 0 | 12,004 |
Acquisitions | 0 | -29,367 | -89,730 |
Net cash used in investing activities | -40,381 | -68,406 | -43,286 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from exercise of stock options | 5,802 | 9,271 | 4,994 |
Tax benefit from the exercise of options | 4,277 | 4,608 | 4,154 |
business combinations contingent liability payment | -11,481 | -22,867 | -4,151 |
Common stock purchased for treasury | -102,172 | 0 | 0 |
Net cash provided by financing activities | -103,574 | -8,988 | 4,997 |
Net decrease in cash and cash equivalents | 11,498 | 65,947 | 36,679 |
Cash and cash equivalents – beginning of period | 168,777 | 102,830 | 66,151 |
Cash and cash equivalents – end of period | 180,275 | 168,777 | 102,830 |
Supplemental disclosures of cash flow information: | ' | ' | ' |
Interest | 128 | 49 | 51 |
Income taxes | $57,147 | $52,711 | $59,633 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Basis of Reporting [Abstract] | ' | |||||||||||||||
Significant Accounting Policies [Text Block] | ' | |||||||||||||||
[1] Organization: | ||||||||||||||||
Steven Madden, Ltd. a Delaware corporation, and its subsidiaries, design, source, market and sell name brand and private label women's, men's and children's shoes, worldwide through its wholesale and retail channels under the Steve Madden Women's, Steven and Madden Men's brand names and through its wholesale channels under the Stevies, Madden Girl, Madden, l.e.i. (under license), Report, Superga (under license), Betsey Johnson and Big Buddha brand names. In addition, the Company designs, sources, markets and sells name brand and private label fashion handbags and accessories to customers worldwide through its Wholesale Accessories segment. The Wholesale Accessories segment includes Big Buddha, Betsey Johnson, Betseyville, Cejon, Steve Madden and Steven by Steve Madden and, through a license agreement Olsenboye, accessories brands. Revenue is generated predominantly through the sale of the Company's brand name and private label merchandise and certain licensed products. At December 31, 2013 and 2012, the Company operated 121 (including four e-commerce websites) and 109 (including three e-commerce websites) retail stores, respectively. Revenue is subject to seasonal fluctuations. See Note P for operating segment information. | ||||||||||||||||
[2] Principles of consolidation: | ||||||||||||||||
The Consolidated Financial Statements include the accounts of Steven Madden, Ltd. and its wholly-owned subsidiaries Steven Madden Retail, Inc., Diva Acquisition Corp., Adesso Madden, Inc., Stevies, Inc., Daniel M. Friedman and Associates, Inc., Big Buddha, Inc., the Topline Corporation, Cejon, Inc., SML Holdings S.a.r.l., SML Canada Acquisition Corp. (collectively the "Company"). The accounts of MadLove LLC, a joint venture in which the Company is the primary beneficiary, is included in the Consolidated Financial Statements with the other members' interests reflected in “Net (income) loss attributable to non-controlling interests” in the Consolidated Statements of Income and “Non-controlling interests” in the Consolidated Balance Sheets. All significant intercompany balances and transactions have been eliminated. Additionally, certain adjustments were made to prior years' amounts to conform to the 2013 presentation and to reflect the three-for-two stock split. | ||||||||||||||||
[3] 2013 Stock Split | ||||||||||||||||
On August 20, 2013, the Company announced that on August 19, 2013, its Board of Directors declared a three-for-two stock split of the Company's outstanding shares of common stock, effected in the form of a stock dividend on the Company's outstanding common stock. Stockholders of record at the close of business on September 20, 2013 received one additional share of Steven Madden, Ltd. common stock for every two shares of common stock owned on that date. The additional shares were distributed on October 1, 2013. Stockholders received cash in lieu of any fractional shares of common stock they otherwise would have received in connection with the dividend. All share and per share data provided herein gives effect to this stock split, applied retroactively. | ||||||||||||||||
[4] Use of Estimates: | ||||||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||||
Significant areas involving management estimates include allowances for bad debts, returns and customer chargebacks, inventory valuation, valuation of intangible assets, litigation reserves, and contingent payment liabilities. The Company provides reserves on trade accounts receivables and factor receivables for future customer chargebacks and markdown allowances, discounts, returns and other miscellaneous compliance-related deductions that relate to the current period sales. The Company evaluates anticipated chargebacks by reviewing several performance indicators of its major | ||||||||||||||||
NOTE A – Summary of Significant Accounting Policies (continued) | ||||||||||||||||
customers. These performance indicators, which include retailers’ inventory levels, sell-through rates and gross margin levels, are analyzed by management to estimate the amount of the anticipated customer allowance. | ||||||||||||||||
[5] Cash equivalents: | ||||||||||||||||
Cash equivalents at December 31, 2013 and 2012 amounted to approximately $102,247 and $27,219, respectively, and consisted of money market accounts held primarily at four brokerage companies. The Company considers all highly liquid instruments with an original maturity of three months or less when purchased to be cash equivalents. | ||||||||||||||||
[6] Marketable securities: | ||||||||||||||||
Marketable securities consist primarily of corporate bonds and certificates of deposit with maturities greater than three months and up to ten years at the time of purchase. These securities, which are classified as available for sale, are carried at fair value, with unrealized gains and losses net of any tax effect reported in stockholders' equity as accumulated other comprehensive income (loss) until realized. Amortization of premiums and discounts is included in interest income. For the years ended December 31, 2013 and 2012, the amortization of bond premiums was $661 and $894, respectively. The schedule of maturities at December 31, 2013 and 2012 are as follows: | ||||||||||||||||
Maturities as of | Maturities as of | |||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||
1 Year or Less | 1 to 10 Years | 1 Year or Less | 1 to 10 Years | |||||||||||||
Corporate bonds | $ | 4,078 | $ | 82,888 | $ | 8,285 | $ | 73,027 | ||||||||
Certificates of deposit | 16,513 | 8,379 | 8,000 | 8,175 | ||||||||||||
Total | $ | 20,591 | $ | 91,267 | $ | 16,285 | $ | 81,202 | ||||||||
[7] Inventories: | ||||||||||||||||
Inventories, which consist of finished goods on hand and in transit, are stated at the lower of cost (first-in, first-out method) or market. | ||||||||||||||||
[8] Property and equipment: | ||||||||||||||||
Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed utilizing the straight-line method based on estimated useful lives ranging from three to ten years. Leasehold improvements are amortized utilizing the straight-line method over the shorter of their estimated useful lives or the remaining lease term. Impairment losses are recognized for long-lived assets, including certain intangibles, used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are not sufficient to recover the assets' carrying amount. Impairment losses are measured by comparing the fair value of the assets to their carrying amount. | ||||||||||||||||
[9] Goodwill and intangible assets: | ||||||||||||||||
The Company's goodwill and indefinite lived intangible assets are not amortized, rather they are tested for impairment on an annual basis or more often if events or circumstances change that could cause these assets to become impaired. The Company completed its annual impairment tests on goodwill and intangible assets during the third quarter of 2013 and no impairments were recognized. | ||||||||||||||||
The Company amortizes its intangible assets with definite useful lives over their estimated useful lives and reviews these assets for impairment. The Company is currently amortizing its acquired intangible assets with definite useful lives over periods typically from three to ten years. | ||||||||||||||||
NOTE A – Summary of Significant Accounting Policies (continued) | ||||||||||||||||
[10] Net Income Per Share of Common Stock: | ||||||||||||||||
Basic net income per share is based on the weighted average number of shares of common stock outstanding during the period, which does not include unvested restricted stock subject to forfeiture. Diluted net income per share reflects: a) the potential dilution assuming shares of common stock were issued upon the exercise of outstanding in-the-money options and the proceeds thereof were used to purchase shares of the Company’s common stock at the average market price during the period, and b) the vesting of granted nonvested restricted stock awards for which the assumed proceeds upon vesting are deemed to be the amount of compensation cost not yet recognized attributable to future services using the treasury stock method, to the extent dilutive. For the years ended December 31, 2013, 2012 and 2011, options to purchase approximately 15,000, 99,000 and 182,000 shares of common stock, respectively, have been excluded in the calculation of diluted income per share as the result would have been anti-dilutive. For the years ended December 31, 2013, 2012 and 2011, all unvested restricted stock awards were dilutive. | ||||||||||||||||
[11] Comprehensive Income: | ||||||||||||||||
Comprehensive income is the total of net earnings and all other non-owner changes in equity. Comprehensive income for the Company includes net income, foreign currency translation adjustments, cash flow hedging and unrealized gains and losses on marketable securities. | ||||||||||||||||
[12] Advertising costs: | ||||||||||||||||
The Company expenses costs of print, radio and billboard advertisements as incurred. Advertising expense included in operating expenses amounted to approximately $11,529 in 2013, $9,783 in 2012 and $7,312 in 2011. | ||||||||||||||||
[13] Revenue Recognition: | ||||||||||||||||
The Company recognizes revenue on wholesale sales when (i) products are shipped pursuant to its standard terms, which are freight on board (“FOB”) Company warehouse, or when products are delivered to the consolidators, or any other destination, as per the terms of the customers’ purchase order, (ii) persuasive evidence of an arrangement exists, (iii) the price is fixed and determinable and (iv) collection is reasonably assured. Sales reductions on wholesale sales for anticipated discounts, allowances and other deductions are recognized during the period when sales are recorded. Customers retain the right to replacement of the product for poor quality or improper or short shipments, which have historically been immaterial. Retail sales are recognized when the payment is received from customers and are recorded net of estimated returns. The Company generates commission income acting as a buying agent by arranging to manufacture private label shoes to the specifications of its clients. The Company’s commission revenue also includes fees charged for its design, product and development services provided to certain suppliers in connection with the Company’s private label business. Commission revenue and product and development fees are recognized as earned when title to the product transfers from the manufacturer to the customer and collections are reasonably assured and are reported on a net basis after deducting related operating expenses. | ||||||||||||||||
The Company licenses its Steve Madden® and Steven by Steve Madden® trademarks for use in connection with the manufacture, marketing and sale of sunglasses, eyewear, outerwear, bedding, hosiery, women's fashion apparel, jewelry, watches and luggage. In addition, the Company licenses the Betsey Johnson® and Betseyville® trademarks for use in connection with the manufacture, marketing and sale of apparel, jewelry, swimwear, eyewear, watches, fragrances and outerwear. The license agreements require the licensee to pay the Company a royalty and, in substantially all of the agreements, an advertising fee based on the higher of a minimum or a net sales percentage as defined in the various agreements. In addition, under the terms of retail selling agreements, most of the Company’s international distributors are required to pay the Company a royalty based on a percentage of net sales, in addition to a commission and a design fee on the purchases of the Company’s products. Licensing revenue is recognized on the basis of net sales reported by the licensees, or the minimum guaranteed royalties, if higher. | ||||||||||||||||
NOTE A – Summary of Significant Accounting Policies (continued) | ||||||||||||||||
In substantially all of the Company’s license agreements, the minimum guaranteed royalty is earned and receivable on a quarterly basis. | ||||||||||||||||
[14] Taxes Collected From Customers: | ||||||||||||||||
The Company accounts for certain taxes collected from its customers in accordance with the accounting guidance which permits companies to adopt a policy of presenting taxes in the income statement on either a gross basis (included in revenues and costs) or a net basis (excluded from revenues). Taxes within the scope of this accounting guidance would include taxes that are imposed on a revenue transaction between a seller and a customer, for example, sales taxes, use taxes, value-added taxes and some types of excise taxes. The Company has consistently recorded all taxes on a net basis. | ||||||||||||||||
[15] Sales Deductions: | ||||||||||||||||
The Company supports retailers’ initiatives to maximize sales of the Company’s products on the retail floor by subsidizing the co-op advertising programs of such retailers, providing them with inventory markdown allowances and participating in various other marketing initiatives of its major customers. In addition, the majority of the product the Company accepts as returns relates to damaged products for which the Company’s costs are normally charged back to the responsible third-party factory. Such expenses are reflected in the financial statements as deductions to net sales. | ||||||||||||||||
[16] Cost of Sales: | ||||||||||||||||
All costs incurred to bring finished products to the Company’s distribution center or to the customers’ freight forwarder and, in the Retail segment, the costs to bring products to the Company’s stores, are included in the cost of sales line on the Consolidated Statements of Income. These include the cost of finished products, purchase commissions, letter of credit fees, brokerage fees, sample expenses, custom duty, inbound freight, royalty payments on licensed products, labels and product packaging. All warehouse and distribution costs related to the Wholesale segments and freight to customers, if any, are included in the operating expenses line item of the Company’s Consolidated Statements of Income. The Company’s gross margins may not be comparable to those of other companies in the industry because some companies may include warehouse and distribution costs, as well as other costs excluded from cost of sales by the Company, as a component of cost of sales, while other companies report on the same basis as the Company and include them in operating expenses. | ||||||||||||||||
[17] Warehouse and shipping costs: | ||||||||||||||||
The Company includes all warehouse and distribution costs for the Wholesale segment in the Operating Expenses line on the Consolidated Statements of Income. For the years ended December 31, 2013, 2012 and 2011, the total warehouse and distribution costs included in Operating Expenses were $14,887, $14,140 and $12,190 respectively. Since the Company's standard terms of sales are “FOB Steve Madden warehouse,” the Company's wholesale customers absorb most shipping costs. Shipping costs to wholesale customers incurred by the Company are not considered significant and are included in the Operating Expense line in the Consolidated Statements of Income. | ||||||||||||||||
[18] Employee benefit plan: | ||||||||||||||||
The Company maintains a tax-qualified 401(k) plan which is available to each of the Company's eligible employees who elect to participate after meeting certain length-of-service requirements. The Company made discretionary matching contributions of 50% of employees' contributions up to a maximum of 6% of employees' compensation which vest to the employees over a period of time. Total matching contributions to the plan for 2013, 2012 and 2011 were approximately $1,259, $1,206 and $844, respectively. | ||||||||||||||||
NOTE A – Summary of Significant Accounting Policies (continued) | ||||||||||||||||
[19] Derivative Instruments: | ||||||||||||||||
The Company uses derivative instruments to manage its exposure to cash-flow variability from foreign currency risk. Derivatives are carried on the balance sheet at fair value and included in prepaid expenses and other current assets. The Company applies cash flow hedge accounting for its derivative instruments. Net derivative gains and losses attributable to derivatives subject to cash flow hedge accounting reside in accumulated other comprehensive income and will be reclassified to earnings in future periods as the economic transactions to which the derivatives relate affect earnings. See Note L-Derivative Instruments. | ||||||||||||||||
[20] Income Taxes: | ||||||||||||||||
The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. | ||||||||||||||||
The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. See Note N - Income Taxes. | ||||||||||||||||
[21] Share-based Compensation: | ||||||||||||||||
The Company recognizes expense related to share-based payment transactions in which it receives employee services in exchange for (a) equity instruments of the Company or (b) liabilities that are based on the fair value of the enterprise’s equity instruments or that may be settled by the issuance of such equity instruments. Share-based compensation cost for restricted stock units (“RSUs”) is measured based on the closing fair market value of the Company’s common stock on the date of grant. Share-based compensation cost for stock options is measured at the grant date, based on the fair-value as calculated by the Black-Scholes-Merton (“BSM”) option-pricing model. The BSM option-pricing model incorporates various assumptions including expected volatility, estimated expected life and interest rates. The Company recognizes share-based compensation cost over the award’s requisite service period on a straight-line basis. The Company recognizes a benefit from share-based compensation in the Consolidated Statements of Stockholders' Equity if an incremental tax benefit is realized. See Note I - Stock Based Compensation. |
Acquisitions
Acquisitions | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Acquisitions [Abstract] | ' | |||
Acqusitions | ' | |||
Acquisitions | ||||
Steve Madden Canada | ||||
On February 21, 2012, the Company purchased all of the assets of Steve Madden Canada Inc., Steve Madden Retail Canada Inc., Pasa Agency Inc. and Gelati Imports Inc. (collectively, “SM Canada”), the Company’s sole distributor in Canada since 1994, comprising SM Canada’s footwear, handbags and accessories wholesale and retail businesses. The transaction was completed for cash consideration of approximately $26,686, net of a working capital adjustment of $2,681, plus potential earn-out payments of up to a maximum of $38,000 Canadian dollars (which converted to approximately $37,327 U.S. dollars at the time of acquisition), in the aggregate, based on achievement of certain earnings targets for each of the 12-month periods ending on March 31, 2013 through 2017, inclusive. The Company made the first earn-out payment, $4,529 for the period ended March 31, 2013, in October 2013. The fair value of the contingent payments was estimated using the present value of management’s projections of the financial results of SM Canada during the earn-out period. As of December 31, 2013, the Company estimates the fair value of the contingent consideration to be $19,360. | ||||
Note B – Acquisitions (continued) | ||||
The transaction was accounted for using the acquisition method required by GAAP. Accordingly, the assets and liabilities of SM Canada were adjusted to their fair values, and the excess of the purchase price over the fair value of the assets acquired, including identified intangible assets, was recorded as goodwill. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions. The purchase price has been allocated as follows: | ||||
Accounts receivable | $ | 2,496 | ||
Inventory | 2,220 | |||
Prepaid expenses and other assets | 147 | |||
Fixed assets | 1,005 | |||
Re-acquired right | 35,200 | |||
Customer relationships | 4,400 | |||
Non-compete agreement | 455 | |||
Accounts payable | (2,645 | ) | ||
Accrued expenses | (802 | ) | ||
Total fair value excluding goodwill | 42,476 | |||
Goodwill | 9,368 | |||
Net assets acquired | $ | 51,844 | ||
Prior to the acquisition, the Company and SM Canada had a preexisting relationship under which SM Canada had the exclusive right to use the Steve Madden brand throughout Canada in connection with the sale and distribution of merchandise. The settlement of the preexisting relationship is considered a re-acquired right and was valued based on the present value of estimated future cash flows. | ||||
Contingent consideration, classified as a liability, is remeasured at fair value at each reporting date, until the contingency is resolved, with changes recognized in earnings. The goodwill and other identifiable intangible assets related to this transaction are expected to be deductible for tax purposes over 15 years. | ||||
The Company incurred approximately $951 in acquisition-related costs applicable to the SM Canada transaction during the years ended December 31, 2012 and 2011. These expenses are included in operating expenses in the Company’s Consolidated Statements of Income. In connection with the acquisition, the Company provided an interest free loan to the seller of SM Canada in the principal amount of $3,107 Canadian dollars ($3,171 in U.S. dollars) pursuant to a promissory note. The note will be paid in five annual installments which are due on the dates the five annual earn-out payments are paid. The first payment of principal was made subsequent to the year ended December 31, 2013 in January 2014. To the extent the contingent consideration recorded above related to the earn-out is not achieved, the repayment terms of the note may result in less than the entire principal amount of the loan being paid. In such event, the unpaid principal amount of the note will be forgiven. The note was recorded net of the imputed interest, which will be amortized to income over the term of the note. | ||||
Cejon | ||||
On May 25, 2011, the Company acquired all of the outstanding shares of the capital stock of closely held Cejon, Inc. and Cejon Accessories, Inc. from the sole stockholder of these companies, as well as all of the outstanding membership interests in New East Designs, LLC (together with Cejon Inc. and Cejon Accessories, “Cejon”) from its members (together with the sole stockholder of Cejon, the “Cejon Sellers”). Founded in 1991, Cejon designs, markets and sells cold weather accessories, fashion scarves, wraps and other trend accessories primarily under the Cejon brand name, private labels and under the Steve Madden brand name. Cejon had been a licensee of the Company for cold weather and selected other fashion accessories since September 2006. Management expects the Cejon acquisition will further strengthen and expand the Company’s accessories platform. The acquisition was completed for consideration of approximately $29,502 cash plus potential contingent payments pursuant to an earn-out agreement | ||||
Note B – Acquisitions (continued) | ||||
with the Cejon Sellers. The earn-out agreement specifies two tiers of potential payments to the Cejon Sellers based on the financial performance of Cejon for each of the 12-month periods ending on June 30, 2012 through 2016, inclusive. The tier one earn-out is based on a graduated percentage of EBITDA up to a maximum EBITDA of $11,000 in each of the earn-out periods, provided that the total aggregate payments under this tier do not exceed $25,000. The tier two earn-out is based on a multiple of the amount that EBITDA exceeds certain levels in each of the earn-out periods, provided that the total aggregate payments under this tier do not exceed $33,000. The earn-out payments of $5,139 and $5,000 for the periods ended June 30, 2013 and 2012 were paid in the third quarter of each year, respectively. | ||||
The transaction was accounted for using the acquisition method required by GAAP. Accordingly, the assets and liabilities of Cejon were adjusted to their fair values, and the excess of the purchase price over the fair value of the assets acquired, including identified intangible assets, was recorded as goodwill. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions. The purchase price, net of a working capital adjustment of $836, has been allocated as follows: | ||||
Accounts receivable | $ | 3,631 | ||
Inventory | 3,998 | |||
Prepaid expenses and other current assets | 196 | |||
Fixed assets | 190 | |||
Trade name | 27,065 | |||
Customer relationships | 3,225 | |||
Non-compete agreement | 305 | |||
Other assets | 24 | |||
Accounts payable | (1,318 | ) | ||
Accrued expenses | (2,242 | ) | ||
Total fair value excluding goodwill | 35,074 | |||
Goodwill | 17,759 | |||
Net assets acquired | $ | 52,833 | ||
Contingent consideration, classified as a liability, will be remeasured at fair value at each reporting date, until the contingency is resolved, with changes recognized in earnings. The goodwill and other identifiable intangibles related to this transaction are expected to be deductible for tax purposes over 15 years. | ||||
The Company incurred approximately $531 in acquisition-related costs applicable to the Cejon transaction during the year ended December 31, 2011. These expenses were included in operating expenses in the Company’s Consolidated Statements of Income for the year ended December 31, 2011. | ||||
Topline | ||||
On May 20, 2011, the Company acquired all of the outstanding shares of capital stock of the closely held company, The Topline Corporation ("Topline") from its sole stockholder (the “Topline Seller”). Founded in 1980, Topline and its subsidiaries design, manufacture, market and sell private label and branded women’s footwear primarily to value priced retailers, department stores, specialty retailers and mass merchants. Topline has sourcing capabilities, sample making facilities and product development capabilities in China, including personnel and facilities engaged in direct sourcing. Management believes that Topline is an excellent strategic fit for the Company. The acquisition was completed for consideration of approximately $56,128 in cash, plus potential contingent payments pursuant to an earn-out agreement with the Topline Seller. The earn-out agreement provides for potential payments to the Topline Seller based on the financial performance of Topline for the 12-month period ended on June 30, 2012. | ||||
Note B – Acquisitions (continued) | ||||
The fair value of the contingent payments was estimated using the present value of management’s projections of the financial results of Topline during the earn-out period. The final earn-out payment of $13,600 was made in 2012. | ||||
The transaction was accounted for using the acquisition method required by GAAP. Accordingly, the assets and liabilities of Topline were adjusted to their fair values, and the excess of the purchase price over the fair value of the assets acquired, including identified intangible assets, was recorded as goodwill. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions. The purchase price, net of working capital adjustment of $4,154 paid to the Topline Seller, has been allocated as follows: | ||||
Accounts receivable | $ | 55,950 | ||
Inventory | 8,460 | |||
Prepaid expenses and other current assets | 990 | |||
Fixed assets | 3,895 | |||
Trade name | 16,600 | |||
Customer relationships | 7,900 | |||
Non-compete agreement | 300 | |||
Other assets | 108 | |||
Accounts payable | (40,475 | ) | ||
Accrued expenses | (7,784 | ) | ||
Income tax payable | (3,082 | ) | ||
Deferred tax liability | (8,491 | ) | ||
Total fair value excluding goodwill | 34,371 | |||
Goodwill | 31,003 | |||
Net assets acquired | $ | 65,374 | ||
The trade name, customer relationships, non-compete agreement and goodwill related to this transaction are not deductible for tax purposes. | ||||
The Company incurred approximately $529 in acquisition related costs applicable to the Topline transaction during the year ended December 31, 2011. These expenses were included in operating expenses in the Company’s Consolidated Statements of Income for the year ended December 31, 2011. | ||||
The results of operations of SM Canada, Cejon and Topline have been included in the Company’s Consolidated Statements of Income from the date of the acquisitions. Unaudited pro forma information related to these acquisitions is not included, as the impact of these transactions is not material to the Company’s consolidated results. |
Due_To_and_From_Factor
Due To and From Factor | 12 Months Ended |
Dec. 31, 2013 | |
Due To and From Factor [Abstract] | ' |
Due To And From Factor | ' |
Factor Receivable | |
The Company has a collection agency agreement with Rosenthal & Rosenthal, Inc. (“Rosenthal”) that became effective on September 15, 2009. The agreement can be terminated by the Company or Rosenthal at any time upon 60 days prior written notice. Under the agreement the Company can request advances from Rosenthal of up to 85% of aggregate receivables submitted to Rosenthal. The agreement provides the Company with a $30,000 credit facility with a $15,000 sub-limit for letters of credit at an interest rate based, at the Company’s election, upon either the prime rate or LIBOR. As of December 31, 2013, no letters of credit were outstanding. The Company also pays a fee based on a percentage of the gross invoice amount submitted to Rosenthal. Originally the fee was 0.275% of the gross invoice amount but, on July 10, 2012 the agreement was amended to reduce the fee to 0.25%. Rosenthal assumes the credit risk on a substantial portion of the receivables that the Company submits to it and, to the extent of any loans made to the Company, Rosenthal maintains a lien on all of the Company’s receivables to secure the Company’s obligations. | |
Note C – Factor Receivable (continued) | |
Rosenthal services the collection of the Company's accounts receivable. Funds collected by Rosenthal are applied against advances owed to Rosenthal (if any), and the balance is due and payable to the Company, net of any fees. The allowance against “factor receivables” is a projected provision based on certain formulas and prior approvals for markdowns, allowances, discounts, advertising and other deductions that customers may deduct against their payments. |
Notes_Receivable_Notes_Receiva
Notes Receivable Notes Receivable (Notes) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Notes Receivables [Abstract] | ' | ||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||
Notes Receivable | |||||||
As of December 31, 2013 and 2012, Notes Receivable were comprised of the following: | |||||||
December 31, | December 31, | ||||||
2013 | 2012 | ||||||
Due from seller of SM Canada (see Note B) | 3,171 | 3,085 | |||||
On August 26, 2010, the Company entered into a Debenture and Stock Purchase Agreement with Bakers Footwear Group, Inc. (“Bakers”) pursuant to which the Company paid $5,000 to acquire a subordinated debenture in the principal amount of $5,000 and 1,844,860 unregistered shares of Bakers common stock which traded on the Over-the-Counter Bulletin Board. The Company allocated $996 of the purchase price to the common stock and $4,004 to the subordinated debenture based upon their relative fair values. The debenture provided for the accrual of interest at the rate of 11% per annum and quarterly cash payments of interest. The principal amount of the debenture was payable by Bakers in four equal installments of $1,250 due on August 31, 2017, 2018, 2019 and 2020. The difference between the $4,004 purchase price of the debenture and the $5,000 principal amount of the debenture is considered original issue discount and is being amortized over the life of the debenture. During 2012 and 2011, the total amount of the discount amortized was $145 and $88, bringing the value of the note to $4,148 and $4,092, respectively. On October 3, 2012, Bakers filed for Chapter 11 protection in the United States Bankruptcy Court. As a consequence of the bankruptcy, the debenture due from Bakers (as well as the Bakers common stock) is considered impaired and, therefore, was deemed to have no value. Accordingly, a charge of $4,148 (as well as a charge of $996 for the write-off of Bakers common stock) was included in the impairment charges and provision for litigation in the Company's Consolidated Financial Statements for the year ended December 31, 2012. In January 2013, Bakers announced its intention to liquidate or sell all of its remaining assets. | |||||||
In April 2012, Betsey Johnson LLC filed for Chapter 11 protection in the United States Bankruptcy Court. Shortly thereafter, Betsey Johnson LLC announced that it would commence an orderly liquidation of all of its assets. As a consequence of the bankruptcy, the note receivable due from Betsey Johnson LLC is considered impaired, and accordingly, an impairment charge was recorded and the value of the note was reduced to its anticipated recovery of $500 in the second quarter of 2012. In the fourth quarter of 2012, the Company collected $1,522 and recorded a $1,022 benefit related to a greater-than-anticipated recovery of the Betsey Johnson LLC note receivable. |
Note_Receivable_Related_Party
Note Receivable - Related Party | 12 Months Ended |
Dec. 31, 2013 | |
Receivables [Abstract] | ' |
Note Receivable - Related Party | ' |
Note Receivable – Related Party | |
On June 25, 2007, the Company made a loan to Steve Madden, its Creative and Design Chief and a principal stockholder of the Company, in the amount of $3,000 in order for Mr. Madden to satisfy a personal tax obligation resulting from the exercise of stock options that were due to expire and to retain the underlying Company common stock, which common stock he pledged to the Company as collateral to secure the loan. Mr. Madden executed a secured promissory note in favor of the Company bearing interest at an annual rate of 8%, which was due on the earlier of the date Mr. Madden ceases to be employed by the Company or December 31, 2007. The note was amended and restated as of December 19, 2007 to extend the maturity date to March 31, 2009, and amended and restated again as of April 1, 2009 to change the interest rate to 6% and the maturity date to June 30, 2015 at which time all principal and accrued interest would become due. On January 3, 2012, in connection with an amendment of Mr. Madden’s employment contract, the note was again amended and restated (the “Third Amended and Restated Note”) to extend the maturity date to December 31, 2023 and eliminate the accrual of interest after December 31, 2011. In addition, the Third Amended and Restated Note provides that, commencing on December 31, 2014, and annually on each December 31 thereafter through the maturity date, one-tenth of the principal amount thereof, together with accrued interest, will be cancelled by the Company, provided that Mr. Madden continues to be employed by the Company on each such December 31. As of December 31, 2011, $1,090 of interest has accrued on the principal amount of the loan related to the period prior to the elimination of the accrual of interest and has been reflected on the Company’s Consolidated Financial Statements. Due to the three-for-two stock split of the Company's | |
Note E – Note Receivable – Related Party (continued) | |
common stock effected on May 3, 2010, the number of shares of the Company's common stock securing the loan increased from 510,000 shares to 765,000 shares. Based upon the increase in the market value of the Company’s common stock since the inception of the loan, on July 12, 2010, the Company released from its security interest 555,000 shares of the Company’s common stock, retaining 210,000 shares with a total market value on that date of $6,798, as collateral for the loan. Additionally, pursuant to the three-for-two stock split of the Company's common stock effected on May 31, 2011, the number of shares of the Company's common stock securing the repayment of the loan increased from 210,000 shares to 315,000 shares and pursuant to the three-for-two stock split of the Company's common stock effected on October 1, 2013, the number of shares of the Company's common stock securing the repayment of the loan has increased from 315,000 shares to 472,500 shares. On December 31, 2013, the total market value of these shares was $17,289. Pursuant to the elimination of further interest accumulation under the Third Amended and Restated Note, the outstanding principal and the accrued interest as of December 31, 2013 and 2012 has been discounted to reflect imputed interest, which will be amortized over the remaining life of the loan. |
Fair_Value_Measurement
Fair Value Measurement | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurement | ' | ||||||||||||||||
Fair Value Measurement | |||||||||||||||||
The accounting guidance under Accounting Standards Codification “Fair Value Measurements and Disclosures” (“ASC 820-10”) requires the Company to make disclosures about the fair value of certain of its assets and liabilities. ASC 820-10 clarifies the principle that fair value should be based on the assumptions market participants would use when pricing an asset or liability and establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. ASC 820-10 utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. A brief description of those three levels is as follows: | |||||||||||||||||
• | Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||
• | Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. | ||||||||||||||||
• | Level 3: Significant unobservable inputs. | ||||||||||||||||
The Company’s financial assets and liabilities, subject to fair value measurements, as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||
Note F – Fair Value Measurement (continued) | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Using Fair Value Hierarchy | |||||||||||||||||
Fair value | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | $ | 102,247 | $ | 102,247 | $ | — | $ | — | |||||||||
Current marketable securities – available for sale (a) | 20,591 | 20,591 | — | — | |||||||||||||
Forward contracts | (460 | ) | — | (460 | ) | — | |||||||||||
Note receivable – related party | 3,581 | — | — | 3,581 | |||||||||||||
Note receivable – Seller of SM Canada | 3,171 | — | — | 3,171 | |||||||||||||
Long-term marketable securities – available for sale (b) | 91,267 | 91,267 | — | — | |||||||||||||
Total assets | $ | 220,397 | $ | 214,105 | $ | (460 | ) | $ | 6,752 | ||||||||
Liabilities: | |||||||||||||||||
Contingent consideration | $ | 34,795 | — | — | $ | 34,795 | |||||||||||
Total liabilities | $ | 34,795 | $ | — | $ | — | $ | 34,795 | |||||||||
(a) Current marketable securities includes unrealized gains of $59. | |||||||||||||||||
(b) Long-term marketable securities includes unrealized gains of $1,387 and unrealized losses of $4,530. | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Using Fair Value Hierarchy | |||||||||||||||||
Fair value | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | $ | 27,219 | $ | 27,219 | $ | — | $ | — | |||||||||
Current marketable securities – available for sale (a) | 16,285 | 16,285 | — | — | |||||||||||||
Forward contracts | 161 | — | 161 | — | |||||||||||||
Note receivable – related party | 3,581 | — | — | 3,581 | |||||||||||||
Note receivable – SM Canada | 3,085 | — | — | 3,085 | |||||||||||||
Long-term marketable securities – available for sale (b) | 81,202 | 81,202 | — | — | |||||||||||||
Total assets | $ | 131,533 | $ | 124,706 | $ | 161 | $ | 6,666 | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration | $ | 41,960 | — | — | $ | 41,960 | |||||||||||
Total liabilities | $ | 41,960 | $ | — | $ | — | $ | 41,960 | |||||||||
(a) Current marketable securities includes unrealized gains of $91 and unrealized losses of $241. | |||||||||||||||||
(b) Long-term marketable securities includes unrealized gains of $3,076 and unrealized losses of $325. | |||||||||||||||||
Forward contracts are entered into to manage the risk associated with the volatility of future cash flows denominated in Mexican pesos. Fair value of these instruments are based on observable market transactions of spot and forward rates. | |||||||||||||||||
For the note receivable due from related party (see Note E) and due from the sellers of SM Canada (see Note B), the carrying value was determined to be the fair value, based upon their actual interest rates, which approximate current market interest rates. | |||||||||||||||||
The Company has recorded a liability for potential contingent consideration in connection with the February 21, 2012 acquisition of SM Canada (see Note B). Pursuant to the terms of an earn-out agreement between the Company and the seller of SM Canada, | |||||||||||||||||
Note F – Fair Value Measurement (continued) | |||||||||||||||||
earn-out payments will be due annually to the seller of SM Canada based on the financial performance of SM Canada for each of the 12-month periods ending on March 31, 2013 through 2017, inclusive. The fair value of the contingent payments was estimated using the present value of management’s projections of the financial results of SM Canada during the earn-out period. The earn-out payment of $4,529 for the period ended March 31, 2013 was paid in the fourth quarter of this year. | |||||||||||||||||
The Company has recorded a liability for potential contingent consideration in connection with the May 25, 2011 acquisition of Cejon (see Note B). Pursuant to the terms of an earn-out agreement between the Company and the sellers of Cejon, earn-out payments will be made annually to the sellers of Cejon, based on the financial performance of Cejon for each of the twelve-month periods ending on June 30, 2012 through 2016, inclusive. The fair value of the contingent payments was estimated using the present value of management’s projections of the financial results of Cejon during the earn-out period. The earn-out payment of $5,139 for the period ended June 30, 2013 was paid in the third quarter of this year. | |||||||||||||||||
The Company has recorded a liability for contingent consideration as a result of the February 10, 2010 acquisition of Big Buddha, Inc. The final contingent consideration was paid during the third quarter of 2013 in the amount of $1,813 based on the financial performance of Big Buddha for the 12-month period ended March 31, 2013. | |||||||||||||||||
Accounting guidance permits entities to choose to measure financial instruments and certain other items at fair value that are not currently required to be measured at fair value. The accounting guidance also establishes presentation and disclosure requirements designed to facilitate comparisons between entities that chose different measurement attributes for similar assets and liabilities. The Company has elected not to measure any eligible items at fair value. | |||||||||||||||||
The carrying value of certain financial instruments such as accounts receivable, due from factor and accounts payable approximates their fair values due to the short-term nature of their underlying terms. The fair values of investment in marketable securities available for sale are determined by reference to market data and other valuation techniques, as appropriate. Fair value of the notes receivable held by the Company approximates their carrying value based upon their imputed or actual interest rate, which approximates applicable current market interest rates. |
Property_and_Equipment_Notes
Property and Equipment (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
Property and Equipment | ||||||||
The major classes of assets and total accumulated depreciation and amortization are as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Land and building | $ | 767 | $ | 767 | ||||
Leasehold improvements | 62,087 | 55,005 | ||||||
Machinery and equipment | 5,727 | 5,808 | ||||||
Furniture and fixtures | 6,498 | 6,432 | ||||||
Computer equipment | 38,664 | 30,676 | ||||||
113,743 | 98,688 | |||||||
Less accumulated depreciation and amortization | (57,137 | ) | (53,403 | ) | ||||
Property and equipment - net | $ | 56,606 | $ | 45,285 | ||||
Depreciation and amortization expense related to property and equipment included in operating expenses amounted to approximately $8,858 in 2013, $8,501 in 2012 and $6,732 in 2011. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
Goodwill and Intangible Assets | |||||||||||||||||
The following is a summary of the carrying amount of goodwill by segment as of December 31, 2013 and 2012: | |||||||||||||||||
Wholesale | Net Carrying | ||||||||||||||||
Footwear | Accessories | Retail | Amount | ||||||||||||||
Balance at January 1, 2012 | $ | 20,939 | $ | 49,155 | $ | 5,501 | $ | 75,595 | |||||||||
Purchase accounting adjustment - Topline | 11,610 | 169 | — | 11,779 | |||||||||||||
Acquisition of SM Canada | 3,841 | — | 344 | 4,185 | |||||||||||||
Balance at December 31, 2012 | 36,390 | 49,324 | 5,845 | 91,559 | |||||||||||||
Purchase accounting adjustment - SM Canada | 1,686 | — | 3,496 | 5,182 | |||||||||||||
Translation and other | (485 | ) | — | (124 | ) | (609 | ) | ||||||||||
Balance at December 31, 2013 | $ | 37,591 | $ | 49,324 | $ | 9,217 | $ | 96,132 | |||||||||
The following table details identifiable intangible assets as of December 31, 2013 and 2012: | |||||||||||||||||
2013 | |||||||||||||||||
Estimated Lives | Cost Basis | Accumulated Amortization (1) | Net Carrying Amount | ||||||||||||||
Trade names | 6–10 years | $ | 4,590 | $ | 2,059 | $ | 2,531 | ||||||||||
Customer relationships | 10 years | 27,339 | 10,424 | 16,915 | |||||||||||||
License agreements | 3–6 years | 5,600 | 5,600 | — | |||||||||||||
Non-compete agreement | 5 years | 2,440 | 1,853 | 587 | |||||||||||||
Other | 3 years | 14 | 14 | — | |||||||||||||
39,983 | 19,950 | 20,033 | |||||||||||||||
Re-acquired right | indefinite | 35,200 | 2,558 | 32,642 | |||||||||||||
Trade names | indefinite | 76,888 | — | 76,888 | |||||||||||||
$ | 152,071 | $ | 22,508 | $ | 129,563 | ||||||||||||
(1) Includes the effect of foreign currency translation related primarily to the changes in the Canadian dollar in relation to the U.S. dollar. | |||||||||||||||||
2012 | |||||||||||||||||
Estimated Lives | Cost Basis | Accumulated Amortization | Net Carrying Amount | ||||||||||||||
Trade names | 6–10 years | $ | 4,590 | $ | 1,618 | $ | 2,972 | ||||||||||
Customer relationships | 10 years | 27,339 | 7,541 | 19,798 | |||||||||||||
License agreements | 3–6 years | 5,600 | 5,600 | — | |||||||||||||
Non-compete agreement | 5 years | 2,440 | 1,530 | 910 | |||||||||||||
Other | 3 years | 14 | 14 | — | |||||||||||||
39,983 | 16,303 | 23,680 | |||||||||||||||
Re-acquired right | indefinite | 35,200 | — | 35,200 | |||||||||||||
Trade names | indefinite | 76,888 | — | 76,888 | |||||||||||||
$ | 152,071 | $ | 16,303 | $ | 135,768 | ||||||||||||
The amortization of intangible assets amounted to $3,459 for 2013 and $3,305 for 2012 and is included in operating expenses on | |||||||||||||||||
Note H – Goodwill and Intangible Assets (continued) | |||||||||||||||||
the Company's Consolidated Statements of Income. The estimated future amortization expense of purchased intangibles for the next five years is as follows: | |||||||||||||||||
2014 | $ | 3,254 | |||||||||||||||
2015 | 3,072 | ||||||||||||||||
2016 | 2,769 | ||||||||||||||||
2017 | 2,530 | ||||||||||||||||
2018 | 2,389 | ||||||||||||||||
Thereafter | 6,019 | ||||||||||||||||
Total | $ | 20,033 | |||||||||||||||
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Stock-Based Compensation | ' | |||||||||||||
Stock-Based Compensation | ||||||||||||||
In March 2006, the Board of Directors of the Company approved the Steven Madden, Ltd. 2006 Stock Incentive Plan (the “Plan”) under which nonqualified stock options, stock appreciation rights, performance shares, restricted stock, other stock-based awards and performance-based cash awards may be granted to employees, consultants and non-employee directors. The stockholders approved the Plan on May 26, 2006. On May 25, 2007, the stockholders approved an amendment to the Plan to increase the maximum number of shares that may be issued under the Plan from 4,050,000 to 5,231,250. On May 22, 2009, the stockholders approved a second amendment to the Plan that increased the maximum number of shares that may be issued under the Plan to 13,716,000. On May 25, 2012, the stockholders approved a third amendment to the Plan that increased the maximum number of shares that may be issued under the Plan to 23,466,000. The following table summarizes the number of shares of common stock authorized for use under the Plan, the number of stock-based awards granted (net of expired or cancelled awards) under the Plan and the number of shares of common stock available for the grant of stock-based awards under the Plan: | ||||||||||||||
Common stock authorized | 23,466,000 | |||||||||||||
Stock-based awards, including restricted stock and stock options granted, net of expired or cancelled | (17,986,000 | ) | ||||||||||||
Common stock available for grant of stock-based awards as of December 31, 2013 | 5,480,000 | |||||||||||||
In accordance with accounting guidance relating to stock-based compensation, the Company records compensation for all awards based on the fair value of options and restricted stock on the date of grant. Equity-based compensation is included in operating expenses on the Company's Consolidated Statements of Income. For the years ended December 31, 2013, 2012 and 2011, total equity-based compensation was as follows: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Restricted stock | $ | 15,097 | $ | 11,622 | $ | 5,787 | ||||||||
Stock options | 5,044 | 5,812 | 5,617 | |||||||||||
Total | $ | 20,141 | $ | 17,434 | $ | 11,404 | ||||||||
The Company classifies cash flows resulting from the tax benefits from tax deductions in excess of the compensation costs recognized for those options (tax benefits) as financing cash flows. For the years ended December 31, 2013, 2012 and 2011, the Company realized a tax benefit from stock-based compensation of $4,277, $4,608 and $4,154, respectively. | ||||||||||||||
Note I – Stock-Based Compensation (continued) | ||||||||||||||
Stock Options | ||||||||||||||
The total intrinsic value of options exercised during 2013, 2012 and 2011 amounted to $8,016, $15,386 and $10,768 respectively. During the years ended December 31, 2013, 2012 and 2011, 1,061,513 options with a weighted average exercise price of $12.91, 1,243,500 options with a weighted average exercise price of $12.77 and 1,290,000 options with a weighted average exercise price of $10.61 vested, respectively. As of December 31, 2013, there were unvested options relating to 1,218,199 shares of common stock with a total of $7,620 of unrecognized compensation cost and an average vesting period of 2.5 years. | ||||||||||||||
The Company uses the Black-Scholes-Merton option-pricing model to estimate the fair value of options granted, which requires several assumptions. The expected term of the options represents the estimated period of time until exercise and is based on the historical experience of similar awards. Expected volatility is based on the historical volatility of the Company’s common stock. The risk free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. With the exception of special dividends paid in November 2005 and 2006, the Company historically has not paid regular cash dividends and thus the expected dividend rate is assumed to be zero. The following weighted average assumptions were used for stock options granted: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Volatility | 31% to 45% | 40% to 47% | 43% to 49% | |||||||||||
Risk-free interest rate | 0.37% to 1.38% | 0.47% to 0.87% | 0.61% to 1.78% | |||||||||||
Expected life in years | 4 to 5 | 3 to 5 | 2 to 4 | |||||||||||
Dividend yield | 0.00% | 0.00% | 0.00% | |||||||||||
Weighted average fair value | $10.21 | $9.43 | $7.31 | |||||||||||
Activity relating to stock options granted under the Company’s plans and outside the plans during the three years ended December 31, 2013 is as follows: | ||||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | |||||||||||
Outstanding at January 1, 2011 | 4,054,500 | $ | 9.39 | |||||||||||
Granted | 927,000 | 19.95 | ||||||||||||
Exercised | (658,500 | ) | 7.59 | |||||||||||
Cancelled/Forfeited | (268,500 | ) | 12.95 | |||||||||||
Outstanding at December 31, 2011 | 4,054,500 | 11.86 | ||||||||||||
Granted | 354,000 | 27.09 | ||||||||||||
Exercised | (874,500 | ) | 10.61 | |||||||||||
Cancelled/Forfeited | (130,500 | ) | 13.4 | |||||||||||
Outstanding at December 31, 2012 | 3,403,500 | 13.71 | ||||||||||||
Granted | 584,000 | 30.03 | ||||||||||||
Exercised | (563,000 | ) | 10.28 | |||||||||||
Cancelled/Forfeited | (51,500 | ) | 22.32 | |||||||||||
Outstanding at December 31, 2013 | 3,373,000 | 17.01 | 3.6 years | $ | 94,064 | |||||||||
Exercisable at December 31, 2013 | 2,163,000 | 12.88 | 2.8 years | $ | 51,269 | |||||||||
Note I – Stock-Based Compensation (continued) | ||||||||||||||
The following table summarizes information about stock options at December 31, 2013: | ||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||
Range of Exercise Price | Number Outstanding | Weighted Average Remaining Contractual Life (in Years) | Weighted Average Exercise Price | Number Exercisable | Weighted Average Exercise Price | |||||||||
$3.65 to $8.72 | 1,073,000 | 1.8 | $5.67 | 1,073,000 | $5.67 | |||||||||
$9.50 to $14.99 | 203,000 | 3.2 | 13.43 | 80,500 | 13.26 | |||||||||
$15.29 to $20.86 | 924,000 | 3.4 | 17.19 | 552,000 | 16.75 | |||||||||
$21.17 to $26.95 | 448,000 | 4.8 | 24.55 | 407,500 | 24.62 | |||||||||
$27.03 to $38.96 | 732,000 | 5.7 | 29.77 | 50,000 | 28.75 | |||||||||
3,380,000 | 3.6 | 17.01 | 2,163,000 | 12.88 | ||||||||||
Restricted Stock | ||||||||||||||
The following table summarizes restricted stock activity during the three years ended December 31, 2013: | ||||||||||||||
Number of Shares | Weighted Average Fair Value at Grant Date | |||||||||||||
Outstanding at January 1, 2011 | 843,000 | $ | 11.47 | |||||||||||
Granted | 574,500 | 21.1 | ||||||||||||
Vested | (358,500 | ) | 10.37 | |||||||||||
Forfeited | (52,500 | ) | 18.96 | |||||||||||
Outstanding at December 31, 2011 | 1,006,500 | 16.96 | ||||||||||||
Granted | 3,670,500 | 24.23 | ||||||||||||
Vested | (340,500 | ) | 16.33 | |||||||||||
Forfeited | (3,000 | ) | 25.4 | |||||||||||
Outstanding at December 31, 2012 | 4,333,500 | 23.16 | ||||||||||||
Granted | 434,000 | 29.21 | ||||||||||||
Vested | (473,500 | ) | 19.65 | |||||||||||
Forfeited | (37,000 | ) | 18.82 | |||||||||||
Outstanding at December 31, 2013 | 4,257,000 | 24.24 | ||||||||||||
As of December 31, 2013, there was $87,393 of total unrecognized compensation cost related to restricted stock awards granted under the Plan. This cost is expected to be recognized over a weighted average of 8.7 years. | ||||||||||||||
The Company determines the fair value of its restricted stock awards based on the market price of its common stock on the date of grant. The fair value of the restricted stock that vested during the years ended December 31, 2013, 2012 and 2011 was $9,306, $5,553 and $3,718, respectively. | ||||||||||||||
Note I – Stock-Based Compensation (continued) | ||||||||||||||
On January 3, 2012, the Company and its Creative and Design Chief, Steven Madden, entered into an amendment of Mr. Madden’s existing employment agreement, pursuant to which, on February 8, 2012, Mr. Madden was granted 1,463,057 restricted shares of the Company’s common stock at the then market price of $27.34, which will vest in equal annual installments over a seven-year period commencing on December 31, 2017 and, thereafter, on each December 31 through December 31, 2023, subject to Mr. Madden’s continued employment on each such vesting date. Pursuant to the amended employment agreement, on June 30, 2012, Mr. Madden exercised his right to receive an additional restricted stock award, and on July 3, 2012 he was granted 1,893,342 restricted shares of the Company's common stock at the then market price of $21.13, which will vest in the same manner as the prior grant. |
Preferred_Stock_Notes
Preferred Stock (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Preferred Stock [Abstract] | ' |
Preferred Stock [Text Block] | ' |
Preferred Stock | |
The Company has authorized 5,000,000 shares of preferred stock. The Board of Directors has designated 60,000 shares of such preferred stock as Series A Junior Participating Preferred Stock (“Series A Preferred”). Holders of the shares of Series A Preferred are entitled to dividends equal to 1,000 times dividends declared or paid on the Company's common stock. Each share of Series A Preferred entitles the holder to 1,000 votes on all matters submitted to the holders of common stock. The Series A Preferred has a liquidation preference of $1,000 per share, and is not redeemable by the Company. No shares of preferred stock have been issued. |
Share_Repurchases_Notes
Share Repurchases (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Share Repurchase Program [Abstract] | ' |
Share Repurchase Program [Text Block] | ' |
Share Repurchase Program | |
The Company's Board of Directors authorized a share repurchase program (the “Share Repurchase Program”), effective as of January 1, 2004, originally providing for share repurchases in the aggregate amount of $20,000. The Share Repurchase Program does not have a fixed expiration or termination date and may be modified or terminated by the Board of Directors at any time. On several occasions the Board of Directors has increased the amount authorized for repurchase. On June 18, 2013, the Board of Directors approved a continuation of the Share Repurchase Program for an additional $125,000 in repurchases of the Company's common stock. The Share Repurchase Program permits the Company to effect repurchases from time to time through a combination of open market repurchases or in privately negotiated transactions at such prices and times as are determined to be in the best interest of the Company. During the twelve months ended December 31, 2013, an aggregate of 3,000,167 shares of the Company's common stock was repurchased, in the open market, under the program, at an average price per share of $34.06, for an aggregate purchase price of approximately $102,172. As of December 31, 2013, approximately $69,918 remained available for future repurchases under the Share Repurchase Program. |
Derivative_Instruments_Notes
Derivative Instruments (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Derivative Instruments [Abstract] | ' |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' |
Derivative Instruments | |
The Company uses derivative instruments, specifically, forward foreign exchange contracts, to manage the risk associated with the volatility of future cash flows denominated in Mexican pesos. The foreign exchange contracts will be used to mitigate the impact of exchange rate fluctuations on forecasted purchases of inventory from Mexico and are designated as cash flow hedging instruments. The Company enters into forward contracts with terms of no more than two years. As of December 31, 2013, the fair value of the Company's foreign currency derivatives, which is included on the Consolidated Balance Sheet in accrued expenses, is $460. As of December 31, 2013, $283 of losses related to cash flow hedges are recorded in accumulated other comprehensive income, net of taxes and are expected to be recognized in earnings at the same time the hedged items affect earnings. As of December 31, 2012, the fair value of the Company's foreign currency derivatives, which is included on the Consolidated Balance Sheet in prepaid expenses and other current assets, was $161. As of December 31, 2012, $87 of gains related to cash flow hedges are recorded in accumulated other comprehensive income, net of taxes and are expected to be recognized in earnings at the same time the hedged items affect earnings. As of December 31, 2013 and 2012, none of the Company's hedging activities were considered ineffective and thus no gains and losses relating to ineffectiveness on its hedging activities were recognized in the Consolidated Statements of Income. For the years ended December 31, 2013 and 2012, gains of $656 and $0 were reclassified from accumulated other comprehensive income and recognized in the Consolidated Statements of Income in cost of sales. |
Operating_Leases_Notes
Operating Leases (Notes) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Operating Leases [Abstract] | ' | |||
Leases of Lessee Disclosure [Text Block] | ' | |||
Operating Leases | ||||
The Company leases office, showroom and retail facilities under noncancelable operating leases with terms expiring at various times through 2023. Future minimum annual lease payments under noncancelable operating leases consist of the following at December 31: | ||||
2014 | $ | 32,035 | ||
2015 | 32,613 | |||
2016 | 31,873 | |||
2017 | 29,087 | |||
2018 | 25,129 | |||
Thereafter | 86,149 | |||
Total | $ | 236,886 | ||
A majority of the retail store leases provide for contingent rental payments if gross sales exceed certain targets. In addition, many of the leases contain rent escalation clauses to compensate for increases in operating costs and real estate taxes. Rent expense for the years ended December 31, 2013, 2012 and 2011 was approximately $38,527, $33,073 and $25,328, respectively. Included in such amounts are contingent rents of $140, $169 and $142 in 2013, 2012 and 2011, respectively. | ||||
Rent expense is calculated by amortizing total base rental payments (net of any rental abatements, construction allowances and other rental concessions), on a straight-line basis, over the lease term. Accordingly, rent expense charged to operations differs from rent paid resulting in the Company recording deferred rent. |
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The components of income before income taxes are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic | $ | 125,772 | $ | 123,691 | $ | 117,497 | ||||||
Foreign | 83,179 | 60,496 | 41,295 | |||||||||
$ | 208,951 | $ | 184,187 | $ | 158,792 | |||||||
The income tax provision (benefit) consists of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 41,334 | $ | 41,280 | $ | 43,953 | ||||||
State and local | 11,265 | 10,319 | 8,560 | |||||||||
Foreign | 14,385 | 11,035 | 6,814 | |||||||||
66,984 | 62,634 | 59,327 | ||||||||||
Deferred: | ||||||||||||
Federal | 8,815 | 2,272 | 1,588 | |||||||||
State and local | (667 | ) | (396 | ) | 676 | |||||||
Foreign | 534 | 113 | — | |||||||||
8,682 | 1,989 | 2,264 | ||||||||||
$ | 75,666 | $ | 64,623 | $ | 61,591 | |||||||
Note N - Income Taxes (continued) | ||||||||||||
A reconciliation between taxes computed at the federal statutory rate and the effective tax rate is as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Income taxes at federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
Effects of foreign operations | (1.7 | ) | (3.3 | ) | — | |||||||
State and local income taxes - net of federal income tax benefit | 3 | 3.4 | 3.9 | |||||||||
Nondeductible items | 0.1 | 0.1 | 0.3 | |||||||||
Valuation allowance (reversal) | (0.3 | ) | (0.4 | ) | ||||||||
Other | (0.2 | ) | 0.2 | — | ||||||||
Effective rate | 36.2 | % | 35.1 | % | 38.8 | % | ||||||
The Company applies the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. | ||||||||||||
In accordance with accounting guidance, the Company has opted to classify interest and penalties that would accrue according to the provisions of relevant tax law as income tax expense on the Consolidated Statements of Income. The Company determines the amount of interest expense to be recognized by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken on a tax return. The Company's tax years 2010 through 2013 remain open to examination by most taxing authorities. The Company has no unrecognized tax benefits recorded as of the year ended December 31, 2013. | ||||||||||||
Note N - Income Taxes (continued) | ||||||||||||
The components of deferred tax assets and liabilities are as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Current deferred tax assets (liabilities): | ||||||||||||
Receivable allowances | $ | 8,024 | $ | 9,005 | ||||||||
Inventory | 1,932 | 1,588 | ||||||||||
Unrealized (gain) loss | (23 | ) | 58 | |||||||||
Accrued expenses | 499 | 496 | ||||||||||
Other | 1,835 | (74 | ) | |||||||||
Gross current deferred tax asset | 12,267 | 11,073 | ||||||||||
Non-current deferred tax assets (liabilities): | ||||||||||||
Depreciation and amortization | (5,033 | ) | (1,982 | ) | ||||||||
Deferred compensation | 10,827 | 8,200 | ||||||||||
Unremitted earnings of foreign subsidiaries | (20,748 | ) | (10,224 | ) | ||||||||
Deferred rent | 3,741 | 2,991 | ||||||||||
Amortization of goodwill | (3,293 | ) | (3,097 | ) | ||||||||
Unrealized loss (gain) | 1,226 | (1,073 | ) | |||||||||
Other | 56 | 68 | ||||||||||
(13,224 | ) | (5,117 | ) | |||||||||
Deferred tax (liabilities) assets | $ | (957 | ) | $ | 5,956 | |||||||
The Company's consolidated financial statements provide for any related tax liability on amounts that may be repatriated from foreign operations, aside from undistributed earnings of certain of the Company's foreign subsidiaries that are intended to be indefinitely reinvested in operations outside the U.S. The deferred tax liability of $20,748 and $10,224 for the years ended December 31, 2013 and 2012, respectively, reflects the amounts that may be repatriated from foreign operations. A portion of the amount established in the year ended December 31, 2012 was based on the finalization of the purchase accounting in 2012 of Topline. The total amount of indefinitely reinvested earnings of foreign subsidiaries as of December 31, 2013 and 2012 was $42,750 and $27,100, respectively. Accordingly, no provision has been made for United States income taxes which may become payable if those undistributed earnings of foreign subsidiaries are paid as dividends. Determination of the amount of unrecognized deferred income tax liabilities on these earnings is not practicable because such liability, if any, is subject to many variables and is dependent on circumstances existing if and when remittance occurs. |
Commitments_Contingencies_and_
Commitments, Contingencies and Other | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||
Commitments, Contingencies and Other | ' | |||||||||||
Commitments, Contingencies and Other | ||||||||||||
[1] Legal Proceedings: | ||||||||||||
(a) | As previously disclosed, on February 2, 2012, two individuals purporting to be stockholders of the Company commenced separate civil actions in the Supreme Court of New York, Queens County, Mark Ioffe, Derivatively on Behalf of Nominal Defendant Steven Madden, Ltd. v. Steven Madden, et. al, No. 700188-2012 (the “Ioffe Action”) and Catherine L. Phillips, Derivatively on Behalf of Nominal Defendant Steven Madden, Ltd. v. Steven Madden, et. al, No. 700189-2012 (together with the Ioffe Action, the “Actions”). The Actions asserted derivative claims challenging the decision of the Company's Board of Directors in January 2012 to amend Steven Madden's employment agreement dated July 15, 2005, and amended as of December 14, 2009 and to amend the promissory note setting forth Mr. Madden's obligations in respect of a loan made by the Company to Mr. Madden in 2007 and amended in 2009 and claimed, among other things, that the Board violated its duties of loyalty and good faith by approving the amendments. The Actions also asserted claims of unjust enrichment against Mr. Madden. The Company and the other defendants filed a motion for dismissal of the Actions, which was granted by the court on September 13, 2012. The plaintiffs did not file a notice of appeal with respect to the dismissal of the Actions and the time period for filing an appeal expired. | |||||||||||
On or about May 17, 2013, a law firm purporting to represent Mark Ioffe served a demand letter on the Company's Board of Directors (the “Demand Letter”). The allegations in the Demand Letter are substantively the same as the claims made in the Actions in which the Court entered a judgment of dismissal. The Demand Letter provides that should the Board of Directors fail to take the actions demanded within a reasonable period of time or refuse to take such actions, Mr. Ioffe would commence a shareholder derivative action on behalf of the Company. In response to the Demand Letter, the Board of Directors has formed a special committee consisting of Board members Richard P. Randall, Peter Migliorini and Ravi Sachdev to, among other things, investigate and evaluate the various demands, allegations and requests for action contained in the Demand Letter. The special committee commenced an investigation into the matters raised in the Demand Letter and retained independent counsel to assist and advise it in connection with such investigation. After completing a thorough investigation and evaluation of its findings, the special committee reported to the Board of Directors its recommendation that the Company take no action in response to the Demand Letter. The Board accepted the recommendation of the special committee and determined that the best interests of the Company would not be served by taking any action in response to the Demand Letter. | ||||||||||||
(b) | As previously disclosed, on July 19, 2011, an individual purporting to act on behalf of a class of similarly situated individuals commenced a civil action in the United States District Court for the Central District of California, Samantha Ellison, individually and on behalf of a class of similarly situated individuals v. Steven Madden, Ltd., No. CV11-05935 (the “Ellison Action”) asserting that the Company made unsolicited commercial text calls to wireless telephone numbers of the class members in violation of the Telephone Consumers Protection Act (the "TCPA") and seeking, on behalf of the class, an injunction requiring the Company to cease all wireless text messages without prior written consent as required by the TCPA, as well as the recovery of statutory damages to the class members together with costs and reasonable attorneys' fees. The Company responded by challenging the suit on several grounds. Settlement discussions resulted in a settlement being reached on July 30, 2012 for an aggregate gross settlement fund of $10,000, from which all of the Company's settlement obligations were to be paid, including, but not limited to, valid claims, claims administration fees, and the fees and costs of class counsel. Following a fairness hearing, on May 7, 2013, the court entered an order granting final approval of the settlement and dismissing the Ellison Action on the merits and with prejudice. The Company submitted a initial settlement payment of $5,000 into the settlement fund. The Company's insurer covered 45% of the initial settlement payment of $5,000, subject to the Company's agreement to return, to the Company's insurer, its pro rata share of any remaining amounts in the settlement fund. The claims administrator has paid all of the Company's settlement obligations from the settlement fund. Because of the number of valid claims submitted to the claims administrator and other factors, the settlement fund did not need to be replenished by the Company with any additional amounts over and above the initial settlement payment. The residual funds from the settlement fund, totaling approximately $1,717, have been returned to the Company, of which 45% has been returned by the Company to the Company's insurer. Accordingly, the actual expense to the Company for the Ellison Action was $1,800. | |||||||||||
(c) | On August 10, 2005, following the conclusion of an audit of the Company conducted by auditors for U.S. Customs and Border Protection (“U.S. Customs”) during 2004 and 2005, U.S. Customs issued a report that asserts that certain commissions that the Company treated as “buying agents’ commissions” (which are non-dutiable) should be treated as “selling agents’ commissions” and hence are dutiable. Subsequently, U.S. Immigration and Customs Enforcement notified the Company’s legal counsel that a formal investigation of the Company’s importing practices had been commenced as a result of the audit. In September 2007, U.S. Customs notified the Company that it had finalized its assessment of the underpaid duties at $1,400. The Company, with the advice of legal counsel, evaluated the liability in the case, including additional duties, interest and penalties, and believed that it was not likely to exceed $3,045, and accordingly, a liability for this amount was recorded as of December 31, 2009. The Company contested the conclusions of the U.S. Customs audit and filed a request for review and issuance of rulings thereon by U.S. Customs Headquarters, of Regulations and Rulings, under internal advice procedures. On September 20, 2010, U.S. Customs issued a ruling in the matter, concluding that the commissions paid by the Company pursuant to buying agreements entered into by the Company and one of its two buying agents under review were bona fide buying-agent commissions and, therefore, were non-dutiable. With respect to the second buying agent, U.S. Customs also ruled that beginning in February 2002, commissions paid by the Company were bona fide buying agent commissions and, therefore, were | |||||||||||
Note O – Commitments, Contingencies and Other (continued) | ||||||||||||
non-dutiable. However, U.S. Customs found that the Company’s pre-2002 buying agreements with the second agent were legally insufficient to substantiate a buyer-buyer’s agent relationship between the Company and the agent and that commissions paid to the second agent under such buying agreements, in fact, were dutiable. On the basis of the U.S. Customs ruling, the Company reevaluated the liability in the case and believes that it is not likely to exceed $1,248 and the liability was reduced from $3,045 to such amount as of September 30, 2010. | ||||||||||||
On November 21, 2011, U.S. Customs issued a pre-penalty notice to the Company in which it alleges that gross negligence by the Company resulted in an underpayment of duties with respect to certain pre-2002 buying agreements and claims that the Company owes $342 as an additional duty and $1,367 in monetary penalties. In its February 16, 2012 response to the pre-penalty notice, the Company submitted that it owes no additional duty and, further, did not through negligence or gross negligence fail to pay any duty or engage in conduct amounting to either gross negligence or negligence. The Company requested that U.S. Customs withdraw its proposal to issue a notice of penalty and take no further adverse action against the Company. In the event that U.S. Customs is not inclined to withdraw the pre-penalty notice after review of the Company’s response, the Company has requested the opportunity to make an oral presentation to U.S. Customs prior to the issuance of a notice of penalty. In the event that U.S. Customs determines to issue a notice of penalty, the Company intends to file a petition for relief requesting a reduction of the level of culpability and mitigation of the penalty amount assessed. The maximum total amount of damages related to this matter is approximately $1,700 for which the Company has accrued $1,248. | ||||||||||||
(d) | The Company has been named as a defendant in certain other lawsuits in the normal course of business. In the opinion of management, after consulting with legal counsel, the liabilities, if any, resulting from these matters should not have a material effect on the Company’s financial position or results of operations. It is the policy of management to disclose the amount or range of reasonably possible losses in excess of recorded amounts. | |||||||||||
[2] Employment agreements: | ||||||||||||
Robert Schmertz. Effective January 1, 2013, the Company entered into a new employment agreement with Robert Schmertz, the Company's Brand Director, to replace an existing employment agreement that expired at the end of 2012. The new agreement, which expires on December 31, 2014, provides for an annual salary of $725. In addition, pursuant to his new employment agreement, on January 4, 2013, Mr. Schmertz received a grant of 25,000 shares of the Company's common stock subject to certain restrictions. The restricted shares were issued under the Company's 2006 Stock Incentive Plan, as amended, and will vest in five substantially equal annual installments over five years commencing on the first anniversary of the date of the grant. Additional compensation and bonuses, if any, are at the sole discretion of the Board of Directors. | ||||||||||||
Edward R. Rosenfeld. On December 31, 2012, the Company entered into a new employment agreement with Edward R. Rosenfeld, the Company's Chief Executive Officer and the Chairman of the Board of Directors, to replace an existing employment agreement that expired on December 31, 2012. The agreement, which expires on December 31, 2015, provides for an approximate annual salary of $579 through December 31, 2013, $608 in 2014 and $638 in 2015. In addition, pursuant to his new employment agreement, Mr. Rosenfeld received a grant of 150,000 shares of the Company's common stock subject to certain restrictions. The restricted shares were issued under the Company's 2006 Stock Incentive Plan, as amended, and will vest in equal annual installments over a five-year period commencing on December 1, 2013. Additional compensation and bonuses, if any, are at the sole discretion of the Board of Directors. | ||||||||||||
Steven Madden. On January 3, 2012, the Company and its Creative and Design Chief, Steven Madden, entered into an amendment, dated as of December 31, 2011, to Mr. Madden's existing employment agreement with the Company (the “Amended Madden Agreement”). The Amended Madden Agreement, which extends the term of Mr. Madden's employment through December 31, 2023, provides for an annual base salary of approximately $7,417 in 2013, approximately $9,667 in 2014, approximately $11,917 in 2015 and approximately $10,698 in 2016 and in each year thereafter through the end of the term of employment. Effective in 2012, the Amended Madden Agreement eliminates the annual cash bonuses payable to Mr. Madden based on EBITDA and the annual cash bonus in relation to new business contained in Mr. Madden's previously existing employment agreement and provides that all future cash bonuses will be at the sole discretion of the Company's Board of Directors. Further, the Amended Madden Agreement eliminates the annual non-accountable expense allowance of up to $200 provided to Mr. Madden under the previously existing employment agreement. Pursuant to the Amended Madden Agreement, on February 8, 2012, Mr. Madden was granted 1,463,056 restricted shares of the Company's common stock valued at approximately $40,000, which will vest in equal annual installments over seven years commencing on December 31, 2017 through December 31, 2023, subject to Mr. | ||||||||||||
Note O – Commitments, Contingencies and Other (continued) | ||||||||||||
Madden's continued employment with the Company on each such vesting date. Pursuant to the Amended Madden Agreement, on June 30, 2012, Mr. Madden exercised his right to receive an additional restricted stock award, and on July 3, 2012 he was granted 1,893,342 restricted shares of the Company's common stock, which will vest in the same manner as the February 8, 2012 grant. As consideration for the additional restricted stock grant, Mr. Madden will receive a reduction in his annual base salary in years subsequent to 2012 as follows: approximately $4,000 in 2013, approximately $6,125 in 2014, approximately $8,250 in 2015 and approximately $7,026 in 2016 and in each year thereafter through the end of the term of employment. In addition to the opportunity for discretionary cash bonuses, the Amended Madden Agreement entitles Mr. Madden to an annual life insurance premium reimbursement of up to $200, as well as an annual stock option grant and the potential for an additional one-time stock option grant based upon achievement of | ||||||||||||
certain financial performance criteria. The Amended Madden Agreement also provides for the elimination of interest accrued after December 31, 2011 on an outstanding loan in the original principal amount of $3,000 made by the Company to Mr. Madden, the extension of the maturity date of such loan until December 31, 2023, and the forgiveness of 1/10th of the principal amount of the loan, together with accrued interest, annually over a ten-year period commencing on December 31, 2014 for so long as Mr. Madden continues to be employed by the Company on each such December 31st. | ||||||||||||
Arvind Dharia. On February 8, 2012, the Company and its Chief Financial Officer, Arvind Dharia, entered into an amendment of Mr. Dharia's existing employment agreement. The amendment, among other things, extends the term of Mr. Dharia's employment agreement, which was set to expire at the end of 2011, until December 31, 2014 and increases his annual base salary to $555 effective January 1, 2012 through the remainder of the term. Pursuant to the amendment, on February 8, 2012, Mr. Dharia received a restricted stock award for 15,000 restricted shares of the Company's common stock, which will vest in substantially equal annual installments over a three-year period commencing on February 8, 2013 through February 8, 2015. The agreement, as amended, provides for an annual bonus to Mr. Dharia at the discretion of the Board of Directors. | ||||||||||||
Amelia Newton Varela. Effective January 1, 2014, the Company entered into a new employment agreement with Amelia Newton Varela, the Company's Executive Vice President of Wholesale, to replace an existing employment agreement that expired at the end of 2013. The new agreement, which expires on December 31, 2016 provides for an annual salary of $500 through December 31, 2016 and provides the opportunity for annual cash incentive bonuses. In addition, on February 3, 2014, Ms. Varela received an option to purchase 100,000 shares of common stock at an exercise price equal to the market price of the Company's common stock on the last trading day prior to the grant. The option will vest in equal annual installments over a four-year period commencing on the first anniversary of the grant date. | ||||||||||||
Awadhesh Sinha. Effective January 1, 2014, the Company entered into a new employment agreement with Awadhesh Sinha, the Company's Chief Operating Officer, to replace an existing employment agreement that expired at the end of 2013. The new agreement, which expires on December 31, 2016 provides for an annual salary of $600, $630, and $661 for the three years ended December 31, 2014, 2015, and 2016 and provides the opportunity for annual cash and share based incentive bonuses. In addition, on January 15, 2014, Mr. Sinha received a grant of 29,886 shares of restricted common stock, which will vest in equal annual installments over a three-year period on each of December 15, 2014, December 15, 2015, and December 15, 2016. | ||||||||||||
[3] Letters of credit: | ||||||||||||
At December 31, 2013, the Company had open letters of credit for the purchase of imported merchandise of approximately $1,842. | ||||||||||||
[4] License agreements: | ||||||||||||
On February 9, 2011, the Company entered into a license agreement with Basic Properties America Inc. and BasicNet S.p.A, under which the Company has the right to use the Superga® trademark in connection with the sale and marketing of women's footwear. The agreement requires the Company to pay the licensor a royalty equal to a percentage of net sales and a minimum royalty in the event that specified net sales targets are not achieved. The agreement was amended on April 11, 2013 extending the original agreement through December 31, 2022. | ||||||||||||
On January 1, 2010, the Company entered into a license agreement with Jones Investment Co. Inc., under which the Company has the right to use the GLO Jeans® trademark in connection with the sale and marketing of women's footwear exclusively to K-Mart. The agreement requires the Company to pay the licensor a royalty and advertising payments equal to a percentage of net sales and a minimum royalty and advertising payment in the event that specified net sales targets | ||||||||||||
Note O – Commitments, Contingencies and Other (continued) | ||||||||||||
are not achieved. The agreement which expired on December 31, 2012, was renewed for an additional three-year term and will now expire on December 31, 2015. Subsequently, effective December 31, 2013, the Company terminated the license agreement with Jones Investment Co. Inc. requiring Jones Investment Co. Inc. to fulfill all of its financial obligations through the year ending December 31, 2013. | ||||||||||||
In September 2009, the Company entered into a license agreement with Dualstar Entertainment Group, LLC, under which the Company has the right to use the Olsenboye® trademark in connection with the marketing and sale of footwear and accessories. The agreement requires the Company to make royalty and advertising payments equal to a percentage of net sales and a minimum royalty and advertising payment in the event that specified net sales targets are not achieved. The initial term of this agreement, which expired on December 31, 2011 has been extended until December 31, 2015. | ||||||||||||
On September 10, 2008, the Company entered into a license agreement with Dualstar Entertainment Group, LLC, under which the Company has the right to use the Elizabeth and James® trademark in connection with the sale and marketing of footwear. The agreement required the Company to make royalty and advertising payments equal to a percentage of net sales and a minimum royalty and advertising payment in the event that specified net sales targets were not achieved. The agreement was terminated by the Company in December of 2013 and a charge was recorded for the remainder of the guaranteed minimum payments. The cash outflows for the guaranteed minimum royalty will continue through the original contract expiration of March 31, 2015. | ||||||||||||
On July 1, 2008, the Company entered into a license agreement with Jones Investment Co. Inc., under which the Company has the right to use the l.e.i.® trademark in connection with the sale and marketing of women's footwear exclusively to Wal-Mart. The agreement required the Company to pay the licensor a royalty and advertising payments equal to a percentage of net sales and a minimum royalty and advertising payment in the event that specified net sales targets are not achieved. The initial term of this agreement, which expired on December 31, 2011, was renewed for an additional three-year term, which will expire on December 31, 2014. | ||||||||||||
On March 28, 2007, the Company, through its Accessories Division, entered into a license agreement to design, manufacture and distribute handbags and belts and related accessories under the DF Daisy Fuentes® and the Daisy Fuentes® brands. The agreement required the Company to pay the licensor a royalty and brand management fees based on a percentage of net sales and a minimum royalty in the event that specified net sales targets are not achieved. The agreement expired on December 31, 2012 and was not renewed. | ||||||||||||
Future minimum royalty payments are $1,830 for 2014, $1,165 for 2015 through 2016, and $665 for 2017 through 2018. Royalty expenses are included in the “cost of goods sold” section of the Company's Consolidated Statements of Income. | ||||||||||||
[5] Related Party Transactions: | ||||||||||||
On February 23, 2012, the Company entered into an agreement (the "2012 Consulting Agreement") with JLM Consultants, Inc., a company wholly-owned by John Madden, one of the Company's directors and the brother of Steven Madden, the Company's founder and Creative and Design Chief, which replaced an earlier consulting agreement (the "2004 Consulting Agreement") between the Company and JLM Consultants, Inc. that had expired by its terms on December 31, 2005 but under which JLM Consultants, Inc. had continued to provide consulting services for the consideration provided in the 2004 Consulting Agreement. Under the 2012 Consulting Agreement, Mr. Madden and JLM Consultants, Inc. will continue to provide consulting services with respect to the development of international sales of the Company. JLM Consultants, Inc. received fees and expenses of $1,310 in 2013 pursuant to the 2012 Consulting Agreement and $1,447 and $1,552 in 2012 and 2011, respectively, pursuant to the 2004 Consulting Agreement. The fees and expenses paid to JLM Consultants, Inc. in respect to 2011 were in addition to fees that Mr. Madden received for serving as a director of the Company in 2011. Subsequent to 2011, Mr. Madden no longer receives fees for his service as a director of the Company. | ||||||||||||
[6] Concentrations: | ||||||||||||
The Company maintains cash and cash equivalents with various major financial institutions which at times are in excess of the amount insured. In addition, the Company's marketable securities are principally held at four brokerage companies. | ||||||||||||
During the year ended December 31, 2013, the Company did not purchase more than 10% of its merchandise from any single supplier. Total product purchases from China for the year ended December 31, 2013 were approximately 85%. | ||||||||||||
Note O – Commitments, Contingencies and Other (continued) | ||||||||||||
During the year ended December 31, 2012, the Company did not purchase more than 10% of its merchandise from any single supplier. Total product purchases from China for the year ended December 31, 2012 were approximately 88%. | ||||||||||||
During the year ended December 31, 2011, the Company did not purchase more than 10% of its merchandise from any single supplier. Total product purchases from China for the year ended December 31, 2011 were approximately 90%. | ||||||||||||
For the year ended December 31, 2013, the Company did not have any customers who account for more than 10% of total net sales or 10% of total accounts receivable. | ||||||||||||
For the year ended December 31, 2012, the Company did not have any customers who account for more than 10% of total net sales or 10% of total accounts receivable. | ||||||||||||
For the year ended December 31, 2011, the Company did not have any customers who account for more than 10% of total net sales or 10% of total accounts receivable. | ||||||||||||
Purchases are made primarily in United States dollars. | ||||||||||||
[7] Valuation and qualifying accounts: | ||||||||||||
The following is a summary of the allowance for chargebacks and doubtful accounts related to accounts receivable and the allowance for chargebacks related to the amount due from factor for the years ended: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 22,437 | $ | 18,219 | $ | 15,258 | ||||||
Reductions in reserve, net | (2,025 | ) | — | — | ||||||||
Increases in reserve, net | — | 4,218 | 2,961 | |||||||||
Balance at end of year | $ | 20,412 | $ | 22,437 | $ | 18,219 | ||||||
The following is a summary of goodwill and the related accumulated amortization for the: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Cost basis | ||||||||||||
Balance at beginning of year | $ | 92,157 | $ | 76,193 | $ | 39,211 | ||||||
Acquisitions and purchase price adjustments | 4,573 | 15,964 | 36,982 | |||||||||
Balance at end of year | 96,730 | 92,157 | 76,193 | |||||||||
Accumulated amortization | ||||||||||||
Balance at beginning of year | 598 | 598 | 598 | |||||||||
Balance at end of year | 598 | 598 | 598 | |||||||||
Goodwill - net | $ | 96,132 | $ | 91,559 | $ | 75,595 | ||||||
Operating_Segment_Information
Operating Segment Information | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Operating Segment Information | ' | ||||||||||||||||||||||||||||||||
Operating Segment Information | |||||||||||||||||||||||||||||||||
The Company operates the following business segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing. The Wholesale Footwear segment, through sales to department stores, mid-tier retailers, mass market merchants , online retailers and specialty stores, derives revenue, both domestically and worldwide through our International business, from sales of branded and private label women’s, men’s, girls’ and children’s footwear. The Wholesale Accessories segment, which includes branded and private label handbags, belts and small leather goods as well as cold weather and selected other fashion accessories, derives revenue, both domestically and worldwide through our International business, from sales to department stores, mid-tier retailers, mass market merchants, online retailers and specialty stores. Our Wholesale Footwear and Wholesale Accessories segments, through our International business, derive revenue from Canada and, under special distribution arrangements, from Asia, Europe, the Middle East, Mexico, India, South Africa and Central and South America. The Retail segment, through the operation of Company-owned retail stores in the United States and Canada and the Company’s websites, derives revenue from sales of branded women’s, men’s and children’s footwear, accessories and licensed products to consumers. The First Cost segment represents activities of a subsidiary which earns commissions for serving as a buying agent of footwear products to mass-market merchandisers, mid-tier department stores and other retailers with respect to their purchase of footwear. In the Licensing segment, the Company licenses its Steve Madden® and Steven by Steve Madden® trademarks and other trademark rights for use in connection with the manufacture, marketing and sale of sunglasses, eyewear, outerwear, bedding, hosiery and women's fashion apparel, jewelry, watches and luggage. In addition, this segment licenses the Betsey Johnson® and Betseyville® trademarks for use in connection with the manufacture, marketing and sale of apparel, jewelry, swimwear, eyewear, watches, fragrances and outerwear. | |||||||||||||||||||||||||||||||||
Note P – Operating Segment Information (continued) | |||||||||||||||||||||||||||||||||
Year ended | Wholesale Footwear | Wholesale Accessories | Total Wholesale | Retail | First Cost | Licensing | Corporate | Consolidated | |||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Net sales | $ | 860,448 | $ | 244,163 | $ | 1,104,611 | $ | 209,612 | $ | — | $ | — | $ | — | $ | 1,314,223 | |||||||||||||||||
Gross profit | 263,864 | 89,307 | 353,171 | 129,205 | — | — | — | 482,376 | |||||||||||||||||||||||||
Commissions and licensing fees – net | — | — | — | — | 7,988 | 7,644 | — | 15,632 | |||||||||||||||||||||||||
Income from operations | 117,689 | 44,738 | 162,427 | 24,726 | 7,988 | 7,644 | 983 | 203,768 | |||||||||||||||||||||||||
Depreciation and amortization | 6,659 | 5,542 | 116 | — | 662 | 12,979 | |||||||||||||||||||||||||||
Segment assets | $ | 537,609 | $ | 152,553 | 690,162 | 129,549 | 60,530 | — | — | 880,241 | |||||||||||||||||||||||
Capital expenditures | $ | 9,276 | $ | 11,470 | $ | — | $ | — | $ | — | $ | 20,746 | |||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||
Net sales | $ | 794,486 | $ | 241,339 | $ | 1,035,825 | $ | 191,247 | $ | — | $ | — | $ | — | $ | 1,227,072 | |||||||||||||||||
Gross profit | 249,547 | 87,055 | 336,602 | 119,100 | — | — | — | 455,702 | |||||||||||||||||||||||||
Commissions and licensing fees – net | — | — | — | — | 7,778 | 7,617 | $ | — | 15,395 | ||||||||||||||||||||||||
Income from operations | 104,326 | 41,376 | 145,702 | 26,311 | 7,778 | 7,617 | (8,432 | ) | 178,976 | ||||||||||||||||||||||||
Depreciation and amortization | 7,717 | 4,818 | 107 | — | — | 12,642 | |||||||||||||||||||||||||||
Segment assets | $ | 511,011 | $ | 138,602 | 649,613 | 101,674 | 52,752 | — | — | 804,039 | |||||||||||||||||||||||
Capital expenditures | $ | 7,506 | $ | 12,596 | $ | — | $ | — | $ | — | $ | 20,102 | |||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||
Net sales | $ | 636,809 | $ | 176,824 | $ | 813,633 | $ | 154,916 | $ | — | $ | — | $ | — | $ | 968,549 | |||||||||||||||||
Gross profit | 205,379 | 61,474 | 266,853 | 95,095 | — | — | — | 361,948 | |||||||||||||||||||||||||
Commissions and licensing fees – net | — | — | — | — | 9,795 | 8,920 | — | 18,715 | |||||||||||||||||||||||||
Income from operations | 86,676 | 28,009 | 114,685 | 20,370 | 9,795 | 8,920 | — | 153,770 | |||||||||||||||||||||||||
Depreciation and amortization | 6,604 | 4,378 | 78 | — | — | 11,060 | |||||||||||||||||||||||||||
Segment assets | $ | 383,170 | $ | 132,648 | 515,818 | 76,630 | 47,338 | — | — | 639,786 | |||||||||||||||||||||||
Capital expenditures | $ | 10,314 | $ | 5,163 | $ | — | $ | — | $ | — | $ | 15,477 | |||||||||||||||||||||
Note P – Operating Segment Information (continued) | |||||||||||||||||||||||||||||||||
Revenues by geographic area are as follows: | |||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Domestic (a) | $ | 1,200,797 | $ | 1,133,077 | $ | 915,286 | |||||||||||||||||||||||||||
International | 113,426 | 93,995 | 53,263 | ||||||||||||||||||||||||||||||
Total | $ | 1,314,223 | $ | 1,227,072 | $ | 968,549 | |||||||||||||||||||||||||||
(a) Includes revenues of $315,154, $261,759 and $162,377 for the years ended 2013, 2012 and 2011 related to sales to U.S. customers where the title is transferred outside the U.S. and the sale is recorded by our International subsidiary. |
Quarterly_Results_of_Operation
Quarterly Results of Operations (unaudited) (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Results of Operations (unaudited) [Abstract] | ' | |||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||
Quarterly Results of Operations (unaudited) | ||||||||||||||||
The following is a summary of the quarterly results of operations for the years ended December 31, 2013 and 2012: | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2013:00:00 | ||||||||||||||||
Net sales | $ | 278,916 | $ | 297,634 | $ | 394,791 | $ | 342,882 | ||||||||
Cost of sales | 176,318 | 187,056 | 255,088 | 213,385 | ||||||||||||
Gross profit | 102,598 | 110,578 | 139,703 | 129,497 | ||||||||||||
Commissions, royalty and licensing fee income - net | 4,366 | 3,699 | 4,937 | 2,630 | ||||||||||||
Net income attributable to Steven Madden, Ltd. | $ | 23,400 | $ | 28,956 | $ | 43,992 | $ | 35,659 | ||||||||
Net income per share: | ||||||||||||||||
Basic | 0.36 | 0.45 | 0.68 | 0.55 | ||||||||||||
Diluted | 0.35 | 0.43 | 0.66 | 0.54 | ||||||||||||
2012:00:00 | ||||||||||||||||
Net sales | $ | 265,970 | $ | 288,692 | $ | 356,883 | $ | 315,527 | ||||||||
Cost of sales | 169,877 | 184,438 | 225,668 | 191,387 | ||||||||||||
Gross profit | 96,093 | 104,254 | 131,215 | 124,140 | ||||||||||||
Commissions, royalty and licensing fee income - net | 4,473 | 4,252 | 3,875 | 2,795 | ||||||||||||
Net income attributable to Steven Madden, Ltd. | $ | 21,868 | $ | 26,899 | $ | 37,896 | $ | 32,963 | ||||||||
Net income per share: | ||||||||||||||||
Basic | 0.34 | 0.42 | 0.59 | 0.51 | ||||||||||||
Diluted | 0.33 | 0.41 | 0.57 | 0.49 | ||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Basis of Reporting [Abstract] | ' |
Nature of Operations [Text Block] | ' |
Organization: | |
Steven Madden, Ltd. a Delaware corporation, and its subsidiaries, design, source, market and sell name brand and private label women's, men's and children's shoes, worldwide through its wholesale and retail channels under the Steve Madden Women's, Steven and Madden Men's brand names and through its wholesale channels under the Stevies, Madden Girl, Madden, l.e.i. (under license), Report, Superga (under license), Betsey Johnson and Big Buddha brand names. In addition, the Company designs, sources, markets and sells name brand and private label fashion handbags and accessories to customers worldwide through its Wholesale Accessories segment. The Wholesale Accessories segment includes Big Buddha, Betsey Johnson, Betseyville, Cejon, Steve Madden and Steven by Steve Madden and, through a license agreement Olsenboye, accessories brands. Revenue is generated predominantly through the sale of the Company's brand name and private label merchandise and certain licensed products. At December 31, 2013 and 2012, the Company operated 121 (including four e-commerce websites) and 109 (including three e-commerce websites) retail stores, respectively. Revenue is subject to seasonal fluctuations. See Note P for operating segment information. | |
Consolidation, Policy [Policy Text Block] | ' |
Principles of consolidation: | |
The Consolidated Financial Statements include the accounts of Steven Madden, Ltd. and its wholly-owned subsidiaries Steven Madden Retail, Inc., Diva Acquisition Corp., Adesso Madden, Inc., Stevies, Inc., Daniel M. Friedman and Associates, Inc., Big Buddha, Inc., the Topline Corporation, Cejon, Inc., SML Holdings S.a.r.l., SML Canada Acquisition Corp. (collectively the "Company"). The accounts of MadLove LLC, a joint venture in which the Company is the primary beneficiary, is included in the Consolidated Financial Statements with the other members' interests reflected in “Net (income) loss attributable to non-controlling interests” in the Consolidated Statements of Income and “Non-controlling interests” in the Consolidated Balance Sheets. All significant intercompany balances and transactions have been eliminated. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates: | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |
Significant areas involving management estimates include allowances for bad debts, returns and customer chargebacks, inventory valuation, valuation of intangible assets, litigation reserves, and contingent payment liabilities. The Company provides reserves on trade accounts receivables and factor receivables for future customer chargebacks and markdown allowances, discounts, returns and other miscellaneous compliance-related deductions that relate to the current period sales. The Company evaluates anticipated chargebacks by reviewing several performance indicators of its major | |
NOTE A – Summary of Significant Accounting Policies (continued) | |
customers. These performance indicators, which include retailers’ inventory levels, sell-through rates and gross margin levels, are analyzed by management to estimate the amount of the anticipated customer allowance. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash equivalents: | |
Cash equivalents at December 31, 2013 and 2012 amounted to approximately $102,247 and $27,219, respectively, and consisted of money market accounts held primarily at four brokerage companies. The Company considers all highly liquid instruments with an original maturity of three months or less when purchased to be cash equivalents. | |
Marketable Securities, Policy [Policy Text Block] | ' |
Marketable securities: | |
Marketable securities consist primarily of corporate bonds and certificates of deposit with maturities greater than three months and up to ten years at the time of purchase. These securities, which are classified as available for sale, are carried at fair value, with unrealized gains and losses net of any tax effect reported in stockholders' equity as accumulated other comprehensive income (loss) until realized. Amortization of premiums and discounts is included in interest income. For the years ended December 31, 2013 and 2012, the amortization of bond premiums was $661 and $894, respectively. The schedule of maturities at December 31, 2013 and 2012 are as follows: | |
Inventory, Policy [Policy Text Block] | ' |
Inventories: | |
Inventories, which consist of finished goods on hand and in transit, are stated at the lower of cost (first-in, first-out method) or market. | |
Property, Plant and Equipment, Policy [Policy Text Block] | ' |
Property and equipment: | |
Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed utilizing the straight-line method based on estimated useful lives ranging from three to ten years. Leasehold improvements are amortized utilizing the straight-line method over the shorter of their estimated useful lives or the remaining lease term. Impairment losses are recognized for long-lived assets, including certain intangibles, used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are not sufficient to recover the assets' carrying amount. Impairment losses are measured by comparing the fair value of the assets to their carrying amount. | |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | ' |
Goodwill and intangible assets: | |
The Company's goodwill and indefinite lived intangible assets are not amortized, rather they are tested for impairment on an annual basis or more often if events or circumstances change that could cause these assets to become impaired. The Company completed its annual impairment tests on goodwill and intangible assets during the third quarter of 2013 and no impairments were recognized. | |
Earnings Per Share, Policy [Policy Text Block] | ' |
Net Income Per Share of Common Stock: | |
Basic net income per share is based on the weighted average number of shares of common stock outstanding during the period, which does not include unvested restricted stock subject to forfeiture. Diluted net income per share reflects: a) the potential dilution assuming shares of common stock were issued upon the exercise of outstanding in-the-money options and the proceeds thereof were used to purchase shares of the Company’s common stock at the average market price during the period, and b) the vesting of granted nonvested restricted stock awards for which the assumed proceeds upon vesting are deemed to be the amount of compensation cost not yet recognized attributable to future services using the treasury stock method, to the extent dilutive. For the years ended December 31, 2013, 2012 and 2011, options to purchase approximately 15,000, 99,000 and 182,000 shares of common stock, respectively, have been excluded in the calculation of diluted income per share as the result would have been anti-dilutive. For the years ended December 31, 2013, 2012 and 2011, all unvested restricted stock awards were dilutive. | |
Comprehensive Income Loss Policy | 'Comprehensive Income:Comprehensive income is the total of net earnings and all other non-owner changes in equity. Comprehensive income for the Company includes net income, foreign currency translation adjustments, cash flow hedging and unrealized gains and losses on marketable securities. |
Advertising Costs, Policy [Policy Text Block] | ' |
Advertising costs: | |
The Company expenses costs of print, radio and billboard advertisements as incurred. Advertising expense included in operating expenses amounted to approximately $11,529 in 2013, $9,783 in 2012 and $7,312 in 2011. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue Recognition: | |
The Company recognizes revenue on wholesale sales when (i) products are shipped pursuant to its standard terms, which are freight on board (“FOB”) Company warehouse, or when products are delivered to the consolidators, or any other destination, as per the terms of the customers’ purchase order, (ii) persuasive evidence of an arrangement exists, (iii) the price is fixed and determinable and (iv) collection is reasonably assured. Sales reductions on wholesale sales for anticipated discounts, allowances and other deductions are recognized during the period when sales are recorded. Customers retain the right to replacement of the product for poor quality or improper or short shipments, which have historically been immaterial. Retail sales are recognized when the payment is received from customers and are recorded net of estimated returns. The Company generates commission income acting as a buying agent by arranging to manufacture private label shoes to the specifications of its clients. The Company’s commission revenue also includes fees charged for its design, product and development services provided to certain suppliers in connection with the Company’s private label business. Commission revenue and product and development fees are recognized as earned when title to the product transfers from the manufacturer to the customer and collections are reasonably assured and are reported on a net basis after deducting related operating expenses. | |
The Company licenses its Steve Madden® and Steven by Steve Madden® trademarks for use in connection with the manufacture, marketing and sale of sunglasses, eyewear, outerwear, bedding, hosiery, women's fashion apparel, jewelry, watches and luggage. In addition, the Company licenses the Betsey Johnson® and Betseyville® trademarks for use in connection with the manufacture, marketing and sale of apparel, jewelry, swimwear, eyewear, watches, fragrances and outerwear. The license agreements require the licensee to pay the Company a royalty and, in substantially all of the agreements, an advertising fee based on the higher of a minimum or a net sales percentage as defined in the various agreements. In addition, under the terms of retail selling agreements, most of the Company’s international distributors are required to pay the Company a royalty based on a percentage of net sales, in addition to a commission and a design fee on the purchases of the Company’s products. Licensing revenue is recognized on the basis of net sales reported by the licensees, or the minimum guaranteed royalties, if higher. | |
NOTE A – Summary of Significant Accounting Policies (continued) | |
In substantially all of the Company’s license agreements, the minimum guaranteed royalty is earned and receivable on a quarterly basis. | |
Revenue Recognition, Excise and Sales Taxes | 'Taxes Collected From Customers:Â The Company accounts for certain taxes collected from its customers in accordance with the accounting guidance which permits companies to adopt a policy of presenting taxes in the income statement on either a gross basis (included in revenues and costs) or a net basis (excluded from revenues). Taxes within the scope of this accounting guidance would include taxes that are imposed on a revenue transaction between a seller and a customer, for example, sales taxes, use taxes, value-added taxes and some types of excise taxes. The Company has consistently recorded all taxes on a net basis. |
Revenue Recognition, Allowances [Policy Text Block] | ' |
Sales Deductions: | |
The Company supports retailers’ initiatives to maximize sales of the Company’s products on the retail floor by subsidizing the co-op advertising programs of such retailers, providing them with inventory markdown allowances and participating in various other marketing initiatives of its major customers. In addition, the majority of the product the Company accepts as returns relates to damaged products for which the Company’s costs are normally charged back to the responsible third-party factory. Such expenses are reflected in the financial statements as deductions to net sales. | |
Cost of Sales, Policy [Policy Text Block] | ' |
Cost of Sales: | |
All costs incurred to bring finished products to the Company’s distribution center or to the customers’ freight forwarder and, in the Retail segment, the costs to bring products to the Company’s stores, are included in the cost of sales line on the Consolidated Statements of Income. These include the cost of finished products, purchase commissions, letter of credit fees, brokerage fees, sample expenses, custom duty, inbound freight, royalty payments on licensed products, labels and product packaging. All warehouse and distribution costs related to the Wholesale segments and freight to customers, if any, are included in the operating expenses line item of the Company’s Consolidated Statements of Income. The Company’s gross margins may not be comparable to those of other companies in the industry because some companies may include warehouse and distribution costs, as well as other costs excluded from cost of sales by the Company, as a component of cost of sales, while other companies report on the same basis as the Company and include them in operating expenses. | |
Shipping and Handling Cost, Policy [Policy Text Block] | ' |
Warehouse and shipping costs: | |
The Company includes all warehouse and distribution costs for the Wholesale segment in the Operating Expenses line on the Consolidated Statements of Income. For the years ended December 31, 2013, 2012 and 2011, the total warehouse and distribution costs included in Operating Expenses were $14,887, $14,140 and $12,190 respectively. Since the Company's standard terms of sales are “FOB Steve Madden warehouse,” the Company's wholesale customers absorb most shipping costs. Shipping costs to wholesale customers incurred by the Company are not considered significant and are included in the Operating Expense line in the Consolidated Statements of Income. | |
Postemployment Benefit Plans, Policy [Policy Text Block] | ' |
Employee benefit plan: | |
The Company maintains a tax-qualified 401(k) plan which is available to each of the Company's eligible employees who elect to participate after meeting certain length-of-service requirements. The Company made discretionary matching contributions of 50% of employees' contributions up to a maximum of 6% of employees' compensation which vest to the employees over a period of time. Total matching contributions to the plan for 2013, 2012 and 2011 were approximately $1,259, $1,206 and $844, respectively. | |
NOTE A – Summary of Significant Accounting Policies (continued) | |
[19] Derivative Instruments: | |
The Company uses derivative instruments to manage its exposure to cash-flow variability from foreign currency risk. Derivatives are carried on the balance sheet at fair value and included in prepaid expenses and other current assets. The Company applies cash flow hedge accounting for its derivative instruments. Net derivative gains and losses attributable to derivatives subject to cash flow hedge accounting reside in accumulated other comprehensive income and will be reclassified to earnings in future periods as the economic transactions to which the derivatives relate affect earnings. See Note L-Derivative Instruments. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | |||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||
The schedule of maturities at December 31, 2013 and 2012 are as follows: | ||||||||||||||||
Maturities as of | Maturities as of | |||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||
1 Year or Less | 1 to 10 Years | 1 Year or Less | 1 to 10 Years | |||||||||||||
Corporate bonds | $ | 4,078 | $ | 82,888 | $ | 8,285 | $ | 73,027 | ||||||||
Certificates of deposit | 16,513 | 8,379 | 8,000 | 8,175 | ||||||||||||
Total | $ | 20,591 | $ | 91,267 | $ | 16,285 | $ | 81,202 | ||||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
SM Canada [Member] | ' | |||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The purchase price has been allocated as follows: | ||||
Accounts receivable | $ | 2,496 | ||
Inventory | 2,220 | |||
Prepaid expenses and other assets | 147 | |||
Fixed assets | 1,005 | |||
Re-acquired right | 35,200 | |||
Customer relationships | 4,400 | |||
Non-compete agreement | 455 | |||
Accounts payable | (2,645 | ) | ||
Accrued expenses | (802 | ) | ||
Total fair value excluding goodwill | 42,476 | |||
Goodwill | 9,368 | |||
Net assets acquired | $ | 51,844 | ||
Cejon Acquisition [Member] | ' | |||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The purchase price, net of a working capital adjustment of $836, has been allocated as follows: | ||||
Accounts receivable | $ | 3,631 | ||
Inventory | 3,998 | |||
Prepaid expenses and other current assets | 196 | |||
Fixed assets | 190 | |||
Trade name | 27,065 | |||
Customer relationships | 3,225 | |||
Non-compete agreement | 305 | |||
Other assets | 24 | |||
Accounts payable | (1,318 | ) | ||
Accrued expenses | (2,242 | ) | ||
Total fair value excluding goodwill | 35,074 | |||
Goodwill | 17,759 | |||
Net assets acquired | $ | 52,833 | ||
Topline Acquisition [Member] | ' | |||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The purchase price, net of working capital adjustment of $4,154 paid to the Topline Seller, has been allocated as follows: | ||||
Accounts receivable | $ | 55,950 | ||
Inventory | 8,460 | |||
Prepaid expenses and other current assets | 990 | |||
Fixed assets | 3,895 | |||
Trade name | 16,600 | |||
Customer relationships | 7,900 | |||
Non-compete agreement | 300 | |||
Other assets | 108 | |||
Accounts payable | (40,475 | ) | ||
Accrued expenses | (7,784 | ) | ||
Income tax payable | (3,082 | ) | ||
Deferred tax liability | (8,491 | ) | ||
Total fair value excluding goodwill | 34,371 | |||
Goodwill | 31,003 | |||
Net assets acquired | $ | 65,374 | ||
Notes_Receivable_Tables
Notes Receivable (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Receivables [Abstract] | ' | ||||||
Schedule of Notes Receivable | ' | ||||||
As of December 31, 2013 and 2012, Notes Receivable were comprised of the following: | |||||||
December 31, | December 31, | ||||||
2013 | 2012 | ||||||
Due from seller of SM Canada (see Note B) | 3,171 | 3,085 | |||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of Fair Value, Assets and Liabilities | ' | ||||||||||||||||
The Company’s financial assets and liabilities, subject to fair value measurements, as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||
Note F – Fair Value Measurement (continued) | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Using Fair Value Hierarchy | |||||||||||||||||
Fair value | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | $ | 102,247 | $ | 102,247 | $ | — | $ | — | |||||||||
Current marketable securities – available for sale (a) | 20,591 | 20,591 | — | — | |||||||||||||
Forward contracts | (460 | ) | — | (460 | ) | — | |||||||||||
Note receivable – related party | 3,581 | — | — | 3,581 | |||||||||||||
Note receivable – Seller of SM Canada | 3,171 | — | — | 3,171 | |||||||||||||
Long-term marketable securities – available for sale (b) | 91,267 | 91,267 | — | — | |||||||||||||
Total assets | $ | 220,397 | $ | 214,105 | $ | (460 | ) | $ | 6,752 | ||||||||
Liabilities: | |||||||||||||||||
Contingent consideration | $ | 34,795 | — | — | $ | 34,795 | |||||||||||
Total liabilities | $ | 34,795 | $ | — | $ | — | $ | 34,795 | |||||||||
(a) Current marketable securities includes unrealized gains of $59. | |||||||||||||||||
(b) Long-term marketable securities includes unrealized gains of $1,387 and unrealized losses of $4,530. | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Using Fair Value Hierarchy | |||||||||||||||||
Fair value | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | $ | 27,219 | $ | 27,219 | $ | — | $ | — | |||||||||
Current marketable securities – available for sale (a) | 16,285 | 16,285 | — | — | |||||||||||||
Forward contracts | 161 | — | 161 | — | |||||||||||||
Note receivable – related party | 3,581 | — | — | 3,581 | |||||||||||||
Note receivable – SM Canada | 3,085 | — | — | 3,085 | |||||||||||||
Long-term marketable securities – available for sale (b) | 81,202 | 81,202 | — | — | |||||||||||||
Total assets | $ | 131,533 | $ | 124,706 | $ | 161 | $ | 6,666 | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration | $ | 41,960 | — | — | $ | 41,960 | |||||||||||
Total liabilities | $ | 41,960 | $ | — | $ | — | $ | 41,960 | |||||||||
(a) Current marketable securities includes unrealized gains of $91 and unrealized losses of $241. | |||||||||||||||||
(b) Long-term marketable securities includes unrealized gains of $3,076 and unrealized losses of $325. |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
The major classes of assets and total accumulated depreciation and amortization are as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Land and building | $ | 767 | $ | 767 | ||||
Leasehold improvements | 62,087 | 55,005 | ||||||
Machinery and equipment | 5,727 | 5,808 | ||||||
Furniture and fixtures | 6,498 | 6,432 | ||||||
Computer equipment | 38,664 | 30,676 | ||||||
113,743 | 98,688 | |||||||
Less accumulated depreciation and amortization | (57,137 | ) | (53,403 | ) | ||||
Property and equipment - net | $ | 56,606 | $ | 45,285 | ||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Goodwill | ' | ||||||||||||||||
The following is a summary of the carrying amount of goodwill by segment as of December 31, 2013 and 2012: | |||||||||||||||||
Wholesale | Net Carrying | ||||||||||||||||
Footwear | Accessories | Retail | Amount | ||||||||||||||
Balance at January 1, 2012 | $ | 20,939 | $ | 49,155 | $ | 5,501 | $ | 75,595 | |||||||||
Purchase accounting adjustment - Topline | 11,610 | 169 | — | 11,779 | |||||||||||||
Acquisition of SM Canada | 3,841 | — | 344 | 4,185 | |||||||||||||
Balance at December 31, 2012 | 36,390 | 49,324 | 5,845 | 91,559 | |||||||||||||
Purchase accounting adjustment - SM Canada | 1,686 | — | 3,496 | 5,182 | |||||||||||||
Translation and other | (485 | ) | — | (124 | ) | (609 | ) | ||||||||||
Balance at December 31, 2013 | $ | 37,591 | $ | 49,324 | $ | 9,217 | $ | 96,132 | |||||||||
The following is a summary of goodwill and the related accumulated amortization for the: | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Cost basis | |||||||||||||||||
Balance at beginning of year | $ | 92,157 | $ | 76,193 | $ | 39,211 | |||||||||||
Acquisitions and purchase price adjustments | 4,573 | 15,964 | 36,982 | ||||||||||||||
Balance at end of year | 96,730 | 92,157 | 76,193 | ||||||||||||||
Accumulated amortization | |||||||||||||||||
Balance at beginning of year | 598 | 598 | 598 | ||||||||||||||
Balance at end of year | 598 | 598 | 598 | ||||||||||||||
Goodwill - net | $ | 96,132 | $ | 91,559 | $ | 75,595 | |||||||||||
Schedule of Indentifiable Intangible Assets | ' | ||||||||||||||||
The following table details identifiable intangible assets as of December 31, 2013 and 2012: | |||||||||||||||||
2013 | |||||||||||||||||
Estimated Lives | Cost Basis | Accumulated Amortization (1) | Net Carrying Amount | ||||||||||||||
Trade names | 6–10 years | $ | 4,590 | $ | 2,059 | $ | 2,531 | ||||||||||
Customer relationships | 10 years | 27,339 | 10,424 | 16,915 | |||||||||||||
License agreements | 3–6 years | 5,600 | 5,600 | — | |||||||||||||
Non-compete agreement | 5 years | 2,440 | 1,853 | 587 | |||||||||||||
Other | 3 years | 14 | 14 | — | |||||||||||||
39,983 | 19,950 | 20,033 | |||||||||||||||
Re-acquired right | indefinite | 35,200 | 2,558 | 32,642 | |||||||||||||
Trade names | indefinite | 76,888 | — | 76,888 | |||||||||||||
$ | 152,071 | $ | 22,508 | $ | 129,563 | ||||||||||||
(1) Includes the effect of foreign currency translation related primarily to the changes in the Canadian dollar in relation to the U.S. dollar. | |||||||||||||||||
2012 | |||||||||||||||||
Estimated Lives | Cost Basis | Accumulated Amortization | Net Carrying Amount | ||||||||||||||
Trade names | 6–10 years | $ | 4,590 | $ | 1,618 | $ | 2,972 | ||||||||||
Customer relationships | 10 years | 27,339 | 7,541 | 19,798 | |||||||||||||
License agreements | 3–6 years | 5,600 | 5,600 | — | |||||||||||||
Non-compete agreement | 5 years | 2,440 | 1,530 | 910 | |||||||||||||
Other | 3 years | 14 | 14 | — | |||||||||||||
39,983 | 16,303 | 23,680 | |||||||||||||||
Re-acquired right | indefinite | 35,200 | — | 35,200 | |||||||||||||
Trade names | indefinite | 76,888 | — | 76,888 | |||||||||||||
$ | 152,071 | $ | 16,303 | $ | 135,768 | ||||||||||||
Schedule of Intangible Assets, Future Amortization Expense | ' | ||||||||||||||||
The estimated future amortization expense of purchased intangibles for the next five years is as follows: | |||||||||||||||||
2014 | $ | 3,254 | |||||||||||||||
2015 | 3,072 | ||||||||||||||||
2016 | 2,769 | ||||||||||||||||
2017 | 2,530 | ||||||||||||||||
2018 | 2,389 | ||||||||||||||||
Thereafter | 6,019 | ||||||||||||||||
Total | $ | 20,033 | |||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Schedule Of Share Based Compensation Shares Authorized Under Stock Plans Issued And Avaliability | ' | |||||||||||||
The following table summarizes the number of shares of common stock authorized for use under the Plan, the number of stock-based awards granted (net of expired or cancelled awards) under the Plan and the number of shares of common stock available for the grant of stock-based awards under the Plan: | ||||||||||||||
Common stock authorized | 23,466,000 | |||||||||||||
Stock-based awards, including restricted stock and stock options granted, net of expired or cancelled | (17,986,000 | ) | ||||||||||||
Common stock available for grant of stock-based awards as of December 31, 2013 | 5,480,000 | |||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | ' | |||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Restricted stock | $ | 15,097 | $ | 11,622 | $ | 5,787 | ||||||||
Stock options | 5,044 | 5,812 | 5,617 | |||||||||||
Total | $ | 20,141 | $ | 17,434 | $ | 11,404 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used | 'The following weighted average assumptions were used for stock options granted:  2013 2012 2011Volatility 31% to 45% 40% to 47% 43% to 49%Risk-free interest rate 0.37% to 1.38% 0.47% to 0.87% 0.61% to 1.78%Expected life in years 4 to 5 3 to 5 2 to 4Dividend yield 0.00% 0.00% 0.00%Weighted average fair value $10.21 $9.43 $7.31 | |||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity | ' | |||||||||||||
Activity relating to stock options granted under the Company’s plans and outside the plans during the three years ended December 31, 2013 is as follows: | ||||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | |||||||||||
Outstanding at January 1, 2011 | 4,054,500 | $ | 9.39 | |||||||||||
Granted | 927,000 | 19.95 | ||||||||||||
Exercised | (658,500 | ) | 7.59 | |||||||||||
Cancelled/Forfeited | (268,500 | ) | 12.95 | |||||||||||
Outstanding at December 31, 2011 | 4,054,500 | 11.86 | ||||||||||||
Granted | 354,000 | 27.09 | ||||||||||||
Exercised | (874,500 | ) | 10.61 | |||||||||||
Cancelled/Forfeited | (130,500 | ) | 13.4 | |||||||||||
Outstanding at December 31, 2012 | 3,403,500 | 13.71 | ||||||||||||
Granted | 584,000 | 30.03 | ||||||||||||
Exercised | (563,000 | ) | 10.28 | |||||||||||
Cancelled/Forfeited | (51,500 | ) | 22.32 | |||||||||||
Outstanding at December 31, 2013 | 3,373,000 | 17.01 | 3.6 years | $ | 94,064 | |||||||||
Exercisable at December 31, 2013 | 2,163,000 | 12.88 | 2.8 years | $ | 51,269 | |||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | |||||||||||||
The following table summarizes information about stock options at December 31, 2013: | ||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||
Range of Exercise Price | Number Outstanding | Weighted Average Remaining Contractual Life (in Years) | Weighted Average Exercise Price | Number Exercisable | Weighted Average Exercise Price | |||||||||
$3.65 to $8.72 | 1,073,000 | 1.8 | $5.67 | 1,073,000 | $5.67 | |||||||||
$9.50 to $14.99 | 203,000 | 3.2 | 13.43 | 80,500 | 13.26 | |||||||||
$15.29 to $20.86 | 924,000 | 3.4 | 17.19 | 552,000 | 16.75 | |||||||||
$21.17 to $26.95 | 448,000 | 4.8 | 24.55 | 407,500 | 24.62 | |||||||||
$27.03 to $38.96 | 732,000 | 5.7 | 29.77 | 50,000 | 28.75 | |||||||||
3,380,000 | 3.6 | 17.01 | 2,163,000 | 12.88 | ||||||||||
Schedule of Nonvested Share Activity | ' | |||||||||||||
The following table summarizes restricted stock activity during the three years ended December 31, 2013: | ||||||||||||||
Number of Shares | Weighted Average Fair Value at Grant Date | |||||||||||||
Outstanding at January 1, 2011 | 843,000 | $ | 11.47 | |||||||||||
Granted | 574,500 | 21.1 | ||||||||||||
Vested | (358,500 | ) | 10.37 | |||||||||||
Forfeited | (52,500 | ) | 18.96 | |||||||||||
Outstanding at December 31, 2011 | 1,006,500 | 16.96 | ||||||||||||
Granted | 3,670,500 | 24.23 | ||||||||||||
Vested | (340,500 | ) | 16.33 | |||||||||||
Forfeited | (3,000 | ) | 25.4 | |||||||||||
Outstanding at December 31, 2012 | 4,333,500 | 23.16 | ||||||||||||
Granted | 434,000 | 29.21 | ||||||||||||
Vested | (473,500 | ) | 19.65 | |||||||||||
Forfeited | (37,000 | ) | 18.82 | |||||||||||
Outstanding at December 31, 2013 | 4,257,000 | 24.24 | ||||||||||||
Operating_Leases_Tables
Operating Leases (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Operating Leases [Abstract] | ' | |||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | |||
Future minimum annual lease payments under noncancelable operating leases consist of the following at December 31: | ||||
2014 | $ | 32,035 | ||
2015 | 32,613 | |||
2016 | 31,873 | |||
2017 | 29,087 | |||
2018 | 25,129 | |||
Thereafter | 86,149 | |||
Total | $ | 236,886 | ||
Income_Taxes_Income_Taxes_Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Taxes [Abstract] | ' | |||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | |||||||||||
The components of income before income taxes are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic | $ | 125,772 | $ | 123,691 | $ | 117,497 | ||||||
Foreign | 83,179 | 60,496 | 41,295 | |||||||||
$ | 208,951 | $ | 184,187 | $ | 158,792 | |||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||
The income tax provision (benefit) consists of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 41,334 | $ | 41,280 | $ | 43,953 | ||||||
State and local | 11,265 | 10,319 | 8,560 | |||||||||
Foreign | 14,385 | 11,035 | 6,814 | |||||||||
66,984 | 62,634 | 59,327 | ||||||||||
Deferred: | ||||||||||||
Federal | 8,815 | 2,272 | 1,588 | |||||||||
State and local | (667 | ) | (396 | ) | 676 | |||||||
Foreign | 534 | 113 | — | |||||||||
8,682 | 1,989 | 2,264 | ||||||||||
$ | 75,666 | $ | 64,623 | $ | 61,591 | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||
A reconciliation between taxes computed at the federal statutory rate and the effective tax rate is as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Income taxes at federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
Effects of foreign operations | (1.7 | ) | (3.3 | ) | — | |||||||
State and local income taxes - net of federal income tax benefit | 3 | 3.4 | 3.9 | |||||||||
Nondeductible items | 0.1 | 0.1 | 0.3 | |||||||||
Valuation allowance (reversal) | (0.3 | ) | (0.4 | ) | ||||||||
Other | (0.2 | ) | 0.2 | — | ||||||||
Effective rate | 36.2 | % | 35.1 | % | 38.8 | % | ||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||||
The components of deferred tax assets and liabilities are as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Current deferred tax assets (liabilities): | ||||||||||||
Receivable allowances | $ | 8,024 | $ | 9,005 | ||||||||
Inventory | 1,932 | 1,588 | ||||||||||
Unrealized (gain) loss | (23 | ) | 58 | |||||||||
Accrued expenses | 499 | 496 | ||||||||||
Other | 1,835 | (74 | ) | |||||||||
Gross current deferred tax asset | 12,267 | 11,073 | ||||||||||
Non-current deferred tax assets (liabilities): | ||||||||||||
Depreciation and amortization | (5,033 | ) | (1,982 | ) | ||||||||
Deferred compensation | 10,827 | 8,200 | ||||||||||
Unremitted earnings of foreign subsidiaries | (20,748 | ) | (10,224 | ) | ||||||||
Deferred rent | 3,741 | 2,991 | ||||||||||
Amortization of goodwill | (3,293 | ) | (3,097 | ) | ||||||||
Unrealized loss (gain) | 1,226 | (1,073 | ) | |||||||||
Other | 56 | 68 | ||||||||||
(13,224 | ) | (5,117 | ) | |||||||||
Deferred tax (liabilities) assets | $ | (957 | ) | $ | 5,956 | |||||||
Commitments_Contingencies_and_1
Commitments, Contingencies and Other Commitments, Contingencies and Other (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Commitments Contingencies and Other [Abstract] | ' | ||||||||||||||||
Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation [Table Text Block] | ' | ||||||||||||||||
[2] Employment agreements: | |||||||||||||||||
Robert Schmertz. Effective January 1, 2013, the Company entered into a new employment agreement with Robert Schmertz, the Company's Brand Director, to replace an existing employment agreement that expired at the end of 2012. The new agreement, which expires on December 31, 2014, provides for an annual salary of $725. In addition, pursuant to his new employment agreement, on January 4, 2013, Mr. Schmertz received a grant of 25,000 shares of the Company's common stock subject to certain restrictions. The restricted shares were issued under the Company's 2006 Stock Incentive Plan, as amended, and will vest in five substantially equal annual installments over five years commencing on the first anniversary of the date of the grant. Additional compensation and bonuses, if any, are at the sole discretion of the Board of Directors. | |||||||||||||||||
Edward R. Rosenfeld. On December 31, 2012, the Company entered into a new employment agreement with Edward R. Rosenfeld, the Company's Chief Executive Officer and the Chairman of the Board of Directors, to replace an existing employment agreement that expired on December 31, 2012. The agreement, which expires on December 31, 2015, provides for an approximate annual salary of $579 through December 31, 2013, $608 in 2014 and $638 in 2015. In addition, pursuant to his new employment agreement, Mr. Rosenfeld received a grant of 150,000 shares of the Company's common stock subject to certain restrictions. The restricted shares were issued under the Company's 2006 Stock Incentive Plan, as amended, and will vest in equal annual installments over a five-year period commencing on December 1, 2013. Additional compensation and bonuses, if any, are at the sole discretion of the Board of Directors. | |||||||||||||||||
Steven Madden. On January 3, 2012, the Company and its Creative and Design Chief, Steven Madden, entered into an amendment, dated as of December 31, 2011, to Mr. Madden's existing employment agreement with the Company (the “Amended Madden Agreement”). The Amended Madden Agreement, which extends the term of Mr. Madden's employment through December 31, 2023, provides for an annual base salary of approximately $7,417 in 2013, approximately $9,667 in 2014, approximately $11,917 in 2015 and approximately $10,698 in 2016 and in each year thereafter through the end of the term of employment. Effective in 2012, the Amended Madden Agreement eliminates the annual cash bonuses payable to Mr. Madden based on EBITDA and the annual cash bonus in relation to new business contained in Mr. Madden's previously existing employment agreement and provides that all future cash bonuses will be at the sole discretion of the Company's Board of Directors. Further, the Amended Madden Agreement eliminates the annual non-accountable expense allowance of up to $200 provided to Mr. Madden under the previously existing employment agreement. Pursuant to the Amended Madden Agreement, on February 8, 2012, Mr. Madden was granted 1,463,056 restricted shares of the Company's common stock valued at approximately $40,000, which will vest in equal annual installments over seven years commencing on December 31, 2017 through December 31, 2023, subject to Mr. | |||||||||||||||||
Note O – Commitments, Contingencies and Other (continued) | |||||||||||||||||
Madden's continued employment with the Company on each such vesting date. Pursuant to the Amended Madden Agreement, on June 30, 2012, Mr. Madden exercised his right to receive an additional restricted stock award, and on July 3, 2012 he was granted 1,893,342 restricted shares of the Company's common stock, which will vest in the same manner as the February 8, 2012 grant. As consideration for the additional restricted stock grant, Mr. Madden will receive a reduction in his annual base salary in years subsequent to 2012 as follows: approximately $4,000 in 2013, approximately $6,125 in 2014, approximately $8,250 in 2015 and approximately $7,026 in 2016 and in each year thereafter through the end of the term of employment. In addition to the opportunity for discretionary cash bonuses, the Amended Madden Agreement entitles Mr. Madden to an annual life insurance premium reimbursement of up to $200, as well as an annual stock option grant and the potential for an additional one-time stock option grant based upon achievement of | |||||||||||||||||
certain financial performance criteria. The Amended Madden Agreement also provides for the elimination of interest accrued after December 31, 2011 on an outstanding loan in the original principal amount of $3,000 made by the Company to Mr. Madden, the extension of the maturity date of such loan until December 31, 2023, and the forgiveness of 1/10th of the principal amount of the loan, together with accrued interest, annually over a ten-year period commencing on December 31, 2014 for so long as Mr. Madden continues to be employed by the Company on each such December 31st. | |||||||||||||||||
Arvind Dharia. On February 8, 2012, the Company and its Chief Financial Officer, Arvind Dharia, entered into an amendment of Mr. Dharia's existing employment agreement. The amendment, among other things, extends the term of Mr. Dharia's employment agreement, which was set to expire at the end of 2011, until December 31, 2014 and increases his annual base salary to $555 effective January 1, 2012 through the remainder of the term. Pursuant to the amendment, on February 8, 2012, Mr. Dharia received a restricted stock award for 15,000 restricted shares of the Company's common stock, which will vest in substantially equal annual installments over a three-year period commencing on February 8, 2013 through February 8, 2015. The agreement, as amended, provides for an annual bonus to Mr. Dharia at the discretion of the Board of Directors. | |||||||||||||||||
Amelia Newton Varela. Effective January 1, 2014, the Company entered into a new employment agreement with Amelia Newton Varela, the Company's Executive Vice President of Wholesale, to replace an existing employment agreement that expired at the end of 2013. The new agreement, which expires on December 31, 2016 provides for an annual salary of $500 through December 31, 2016 and provides the opportunity for annual cash incentive bonuses. In addition, on February 3, 2014, Ms. Varela received an option to purchase 100,000 shares of common stock at an exercise price equal to the market price of the Company's common stock on the last trading day prior to the grant. The option will vest in equal annual installments over a four-year period commencing on the first anniversary of the grant date. | |||||||||||||||||
Awadhesh Sinha. Effective January 1, 2014, the Company entered into a new employment agreement with Awadhesh Sinha, the Company's Chief Operating Officer, to replace an existing employment agreement that expired at the end of 2013. The new agreement, which expires on December 31, 2016 provides for an annual salary of $600, $630, and $661 for the three years ended December 31, 2014, 2015, and 2016 and provides the opportunity for annual cash and share based incentive bonuses. In addition, on January 15, 2014, Mr. Sinha received a grant of 29,886 shares of restricted common stock, which will vest in equal annual installments over a three-year period on each of December 15, 2014, December 15, 2015, and December 15, 2016. | |||||||||||||||||
RoyaltyGuaranteesCommitmentsTableTaxBlock | ' | ||||||||||||||||
License agreements: | |||||||||||||||||
On February 9, 2011, the Company entered into a license agreement with Basic Properties America Inc. and BasicNet S.p.A, under which the Company has the right to use the Superga® trademark in connection with the sale and marketing of women's footwear. The agreement requires the Company to pay the licensor a royalty equal to a percentage of net sales and a minimum royalty in the event that specified net sales targets are not achieved. The agreement was amended on April 11, 2013 extending the original agreement through December 31, 2022. | |||||||||||||||||
On January 1, 2010, the Company entered into a license agreement with Jones Investment Co. Inc., under which the Company has the right to use the GLO Jeans® trademark in connection with the sale and marketing of women's footwear exclusively to K-Mart. The agreement requires the Company to pay the licensor a royalty and advertising payments equal to a percentage of net sales and a minimum royalty and advertising payment in the event that specified net sales targets | |||||||||||||||||
Note O – Commitments, Contingencies and Other (continued) | |||||||||||||||||
are not achieved. The agreement which expired on December 31, 2012, was renewed for an additional three-year term and will now expire on December 31, 2015. Subsequently, effective December 31, 2013, the Company terminated the license agreement with Jones Investment Co. Inc. requiring Jones Investment Co. Inc. to fulfill all of its financial obligations through the year ending December 31, 2013. | |||||||||||||||||
In September 2009, the Company entered into a license agreement with Dualstar Entertainment Group, LLC, under which the Company has the right to use the Olsenboye® trademark in connection with the marketing and sale of footwear and accessories. The agreement requires the Company to make royalty and advertising payments equal to a percentage of net sales and a minimum royalty and advertising payment in the event that specified net sales targets are not achieved. The initial term of this agreement, which expired on December 31, 2011 has been extended until December 31, 2015. | |||||||||||||||||
On September 10, 2008, the Company entered into a license agreement with Dualstar Entertainment Group, LLC, under which the Company has the right to use the Elizabeth and James® trademark in connection with the sale and marketing of footwear. The agreement required the Company to make royalty and advertising payments equal to a percentage of net sales and a minimum royalty and advertising payment in the event that specified net sales targets were not achieved. The agreement was terminated by the Company in December of 2013 and a charge was recorded for the remainder of the guaranteed minimum payments. The cash outflows for the guaranteed minimum royalty will continue through the original contract expiration of March 31, 2015. | |||||||||||||||||
On July 1, 2008, the Company entered into a license agreement with Jones Investment Co. Inc., under which the Company has the right to use the l.e.i.® trademark in connection with the sale and marketing of women's footwear exclusively to Wal-Mart. The agreement required the Company to pay the licensor a royalty and advertising payments equal to a percentage of net sales and a minimum royalty and advertising payment in the event that specified net sales targets are not achieved. The initial term of this agreement, which expired on December 31, 2011, was renewed for an additional three-year term, which will expire on December 31, 2014. | |||||||||||||||||
On March 28, 2007, the Company, through its Accessories Division, entered into a license agreement to design, manufacture and distribute handbags and belts and related accessories under the DF Daisy Fuentes® and the Daisy Fuentes® brands. The agreement required the Company to pay the licensor a royalty and brand management fees based on a percentage of net sales and a minimum royalty in the event that specified net sales targets are not achieved. The agreement expired on December 31, 2012 and was not renewed. | |||||||||||||||||
Future minimum royalty payments are $1,830 for 2014, $1,165 for 2015 through 2016, and $665 for 2017 through 2018. Royalty expenses are included in the “cost of goods sold” section of the Company's Consolidated Statements of Income. | |||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Balance at beginning of year | $ | 22,437 | $ | 18,219 | $ | 15,258 | |||||||||||
Reductions in reserve, net | (2,025 | ) | — | — | |||||||||||||
Increases in reserve, net | — | 4,218 | 2,961 | ||||||||||||||
Balance at end of year | $ | 20,412 | $ | 22,437 | $ | 18,219 | |||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||||||
The following is a summary of the carrying amount of goodwill by segment as of December 31, 2013 and 2012: | |||||||||||||||||
Wholesale | Net Carrying | ||||||||||||||||
Footwear | Accessories | Retail | Amount | ||||||||||||||
Balance at January 1, 2012 | $ | 20,939 | $ | 49,155 | $ | 5,501 | $ | 75,595 | |||||||||
Purchase accounting adjustment - Topline | 11,610 | 169 | — | 11,779 | |||||||||||||
Acquisition of SM Canada | 3,841 | — | 344 | 4,185 | |||||||||||||
Balance at December 31, 2012 | 36,390 | 49,324 | 5,845 | 91,559 | |||||||||||||
Purchase accounting adjustment - SM Canada | 1,686 | — | 3,496 | 5,182 | |||||||||||||
Translation and other | (485 | ) | — | (124 | ) | (609 | ) | ||||||||||
Balance at December 31, 2013 | $ | 37,591 | $ | 49,324 | $ | 9,217 | $ | 96,132 | |||||||||
The following is a summary of goodwill and the related accumulated amortization for the: | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Cost basis | |||||||||||||||||
Balance at beginning of year | $ | 92,157 | $ | 76,193 | $ | 39,211 | |||||||||||
Acquisitions and purchase price adjustments | 4,573 | 15,964 | 36,982 | ||||||||||||||
Balance at end of year | 96,730 | 92,157 | 76,193 | ||||||||||||||
Accumulated amortization | |||||||||||||||||
Balance at beginning of year | 598 | 598 | 598 | ||||||||||||||
Balance at end of year | 598 | 598 | 598 | ||||||||||||||
Goodwill - net | $ | 96,132 | $ | 91,559 | $ | 75,595 | |||||||||||
Operating_Segment_Information_
Operating Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | ||||||||||||||||||||||||||||||||
Year ended | Wholesale Footwear | Wholesale Accessories | Total Wholesale | Retail | First Cost | Licensing | Corporate | Consolidated | |||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Net sales | $ | 860,448 | $ | 244,163 | $ | 1,104,611 | $ | 209,612 | $ | — | $ | — | $ | — | $ | 1,314,223 | |||||||||||||||||
Gross profit | 263,864 | 89,307 | 353,171 | 129,205 | — | — | — | 482,376 | |||||||||||||||||||||||||
Commissions and licensing fees – net | — | — | — | — | 7,988 | 7,644 | — | 15,632 | |||||||||||||||||||||||||
Income from operations | 117,689 | 44,738 | 162,427 | 24,726 | 7,988 | 7,644 | 983 | 203,768 | |||||||||||||||||||||||||
Depreciation and amortization | 6,659 | 5,542 | 116 | — | 662 | 12,979 | |||||||||||||||||||||||||||
Segment assets | $ | 537,609 | $ | 152,553 | 690,162 | 129,549 | 60,530 | — | — | 880,241 | |||||||||||||||||||||||
Capital expenditures | $ | 9,276 | $ | 11,470 | $ | — | $ | — | $ | — | $ | 20,746 | |||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||
Net sales | $ | 794,486 | $ | 241,339 | $ | 1,035,825 | $ | 191,247 | $ | — | $ | — | $ | — | $ | 1,227,072 | |||||||||||||||||
Gross profit | 249,547 | 87,055 | 336,602 | 119,100 | — | — | — | 455,702 | |||||||||||||||||||||||||
Commissions and licensing fees – net | — | — | — | — | 7,778 | 7,617 | $ | — | 15,395 | ||||||||||||||||||||||||
Income from operations | 104,326 | 41,376 | 145,702 | 26,311 | 7,778 | 7,617 | (8,432 | ) | 178,976 | ||||||||||||||||||||||||
Depreciation and amortization | 7,717 | 4,818 | 107 | — | — | 12,642 | |||||||||||||||||||||||||||
Segment assets | $ | 511,011 | $ | 138,602 | 649,613 | 101,674 | 52,752 | — | — | 804,039 | |||||||||||||||||||||||
Capital expenditures | $ | 7,506 | $ | 12,596 | $ | — | $ | — | $ | — | $ | 20,102 | |||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||
Net sales | $ | 636,809 | $ | 176,824 | $ | 813,633 | $ | 154,916 | $ | — | $ | — | $ | — | $ | 968,549 | |||||||||||||||||
Gross profit | 205,379 | 61,474 | 266,853 | 95,095 | — | — | — | 361,948 | |||||||||||||||||||||||||
Commissions and licensing fees – net | — | — | — | — | 9,795 | 8,920 | — | 18,715 | |||||||||||||||||||||||||
Income from operations | 86,676 | 28,009 | 114,685 | 20,370 | 9,795 | 8,920 | — | 153,770 | |||||||||||||||||||||||||
Depreciation and amortization | 6,604 | 4,378 | 78 | — | — | 11,060 | |||||||||||||||||||||||||||
Segment assets | $ | 383,170 | $ | 132,648 | 515,818 | 76,630 | 47,338 | — | — | 639,786 | |||||||||||||||||||||||
Capital expenditures | $ | 10,314 | $ | 5,163 | $ | — | $ | — | $ | — | $ | 15,477 | |||||||||||||||||||||
Schedule of Revenues, by Geographic Area | 'Revenues by geographic area are as follows:        Year Ended December 31,  2013 2012 2011Domestic (a) $1,200,797 $1,133,077 $915,286International 113,426 93,995 53,263Total $1,314,223 $1,227,072 $968,549(a) Includes revenues of $315,154, $261,759 and $162,377 for the years ended 2013, 2012 and 2011 related to sales to U.S. customers where the title is transferred outside the U.S. and the sale is recorded by our International subsidiary. |
Quarterly_Results_of_Operation1
Quarterly Results of Operations (unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Results of Operations (unaudited) [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||
The following is a summary of the quarterly results of operations for the years ended December 31, 2013 and 2012: | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2013:00:00 | ||||||||||||||||
Net sales | $ | 278,916 | $ | 297,634 | $ | 394,791 | $ | 342,882 | ||||||||
Cost of sales | 176,318 | 187,056 | 255,088 | 213,385 | ||||||||||||
Gross profit | 102,598 | 110,578 | 139,703 | 129,497 | ||||||||||||
Commissions, royalty and licensing fee income - net | 4,366 | 3,699 | 4,937 | 2,630 | ||||||||||||
Net income attributable to Steven Madden, Ltd. | $ | 23,400 | $ | 28,956 | $ | 43,992 | $ | 35,659 | ||||||||
Net income per share: | ||||||||||||||||
Basic | 0.36 | 0.45 | 0.68 | 0.55 | ||||||||||||
Diluted | 0.35 | 0.43 | 0.66 | 0.54 | ||||||||||||
2012:00:00 | ||||||||||||||||
Net sales | $ | 265,970 | $ | 288,692 | $ | 356,883 | $ | 315,527 | ||||||||
Cost of sales | 169,877 | 184,438 | 225,668 | 191,387 | ||||||||||||
Gross profit | 96,093 | 104,254 | 131,215 | 124,140 | ||||||||||||
Commissions, royalty and licensing fee income - net | 4,473 | 4,252 | 3,875 | 2,795 | ||||||||||||
Net income attributable to Steven Madden, Ltd. | $ | 21,868 | $ | 26,899 | $ | 37,896 | $ | 32,963 | ||||||||
Net income per share: | ||||||||||||||||
Basic | 0.34 | 0.42 | 0.59 | 0.51 | ||||||||||||
Diluted | 0.33 | 0.41 | 0.57 | 0.49 | ||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Table) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment Maturity Date Range One Year Or Less [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Financial Instruments, Owned, Corporate Debt, at Fair Value | $4,078 | $8,285 |
Certificates of Deposit, at Carrying Value | 16,513 | 8,000 |
Marketable Securities | 20,591 | 16,285 |
Investment Maturity Date Range One To Eight Years [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Financial Instruments, Owned, Corporate Debt, at Fair Value | 82,888 | 73,027 |
Certificates of Deposit, at Carrying Value | 8,379 | 8,175 |
Marketable Securities | $91,267 | $81,202 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary of Significant Accounting Policies [Abstract] | ' | ' | ' |
Accretion (Amortization) of Discounts and Premiums, Investments | $661 | $894 | ' |
Cash Equivalents, at Carrying Value | 102,247 | 27,219 | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 15,000 | 99,000 | 182,000 |
Advertising Expense | 11,529 | 9,783 | 7,312 |
Shipping, Handling and Transportation Costs | 14,887 | 14,140 | 12,190 |
Defined Benefit Plan Matching Contribution Percentage Of Employees Contributions | 50.00% | ' | ' |
Defined Benefit Plan Maximum Percentage To Be Matched Of Employees Compensation | 6.00% | ' | ' |
Pension Expense | $1,259 | $1,206 | $844 |
Acquisitions_Detail_Table
Acquisitions (Detail) - (Table) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 21, 2012 | 25-May-11 | 20-May-11 |
In Thousands, unless otherwise specified | SM Canada [Member] | Cejon Acquisition [Member] | Topline Acquisition [Member] | |||
Income tax payable | ' | ' | ' | ' | ' | $3,082 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | ' | ' | ' | 2,496 | 3,631 | 55,950 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | ' | ' | ' | 2,220 | 3,998 | 8,460 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | ' | ' | ' | 147 | 196 | 990 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | ' | ' | 1,005 | 190 | 3,895 |
Trade name | ' | ' | ' | ' | 27,065 | 16,600 |
Re-acquired right | ' | ' | ' | 35,200 | ' | ' |
Customer relationships | ' | ' | ' | 4,400 | 3,225 | 7,900 |
Non-compete agreement | ' | ' | ' | 455 | 305 | 300 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | ' | ' | ' | 2,645 | 1,318 | 40,475 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | ' | ' | ' | 802 | 2,242 | 7,784 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | ' | 42,476 | 35,074 | 34,371 |
Goodwill – net | 96,132 | 91,559 | 75,595 | 9,368 | 17,759 | 31,003 |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | ' | ' | ' | 51,844 | 52,833 | 65,374 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | ' | ' | ' | ' | 24 | 108 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | ' | ' | ' | ' | ($8,491) |
Acquisitions_Detail
Acquisitions (Detail) | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Feb. 21, 2011 | Jun. 30, 2012 | Dec. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2012 | 25-May-11 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 20-May-11 | Dec. 31, 2012 | Dec. 31, 2011 |
USD ($) | USD ($) | USD ($) | SM Canada [Member] | SM Canada [Member] | SM Canada [Member] | SM Canada [Member] | SM Canada [Member] | Cejon Acquisition [Member] | Cejon Acquisition [Member] | Cejon Acquisition [Member] | Cejon Acquisition [Member] | Topline Acquisition [Member] | Topline Acquisition [Member] | Topline Acquisition [Member] | |
CAD | USD ($) | USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||
Adjustment to purchase price of acquisition | ' | ' | $2,681,000 | ' | ' | ' | ' | ' | $836 | ' | ' | ' | $0 | ' | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | 26,686,000 | ' | ' | ' | ' | 29,502,000 | ' | ' | ' | 56,128,000 | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | ' | ' | ' | 37,000 | 38,000,000 | 25,000,000 | ' | ' | ' | ' | ' | ' |
Proceeds from (Payments for) Other Financing Activities | ' | ' | ' | ' | ' | 4,529 | ' | ' | ' | 5,139 | 5,000 | ' | ' | 13,600 | ' |
Business Acquisition, Contingent Consideration, at Fair Value | 24,100,000 | 30,409,000 | ' | ' | ' | 19,360,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Goodwill, Expected Tax Deductible Years | ' | ' | ' | ' | ' | '15 years | ' | ' | ' | '15 years | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | ' | ' | ' | ' | 951,000 | ' | ' | ' | ' | ' | ' | 531,000 | ' | ' | 529,000 |
Financing Receivable, Gross | ' | ' | ' | ' | ' | ' | 3,171,000 | 3,107,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination Contingent Consideration Arrangements Range Of Perfomance Indicators Value High | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | ' | ' | ' | ' |
Business Combination Contingent Consideration Arrangements Range Of Outcomes Value High Tier Two | ' | ' | ' | ' | ' | ' | ' | ' | $33,000,000 | ' | ' | ' | ' | ' | ' |
Due_To_and_From_Factor_Details
Due To and From Factor (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2012 | Dec. 31, 2013 |
Due To and From Factor [Abstract] | ' | ' |
Line of Credit Facility, Collateral | ' | '.85 |
Line of Credit Facility, Maximum Borrowing Capacity | ' | $30,000 |
Letters Of Credit SubLimit Capacity Amount | ' | $15,000 |
Factoring Fee | 0.28% | 0.25% |
Notes_Receivable_Details_Table
Notes Receivable (Details) - (Table) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total | $3,171 | $3,085 |
Note receivable – Seller of SM Canada [Member] | ' | ' |
Due from | $3,171 | $3,085 |
Notes_Receivable_Details_1
Notes Receivable (Details 1) (USD $) | 12 Months Ended | 3 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 26, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Note receivable – Bakers [Member] | Note receivable – Bakers [Member] | Note receivable – Bakers [Member] | August 31, 2017 [Member] | August 31, 2018 [Member] | August 31, 2019 [Member] | August 31, 2020 [Member] | ||
Note receivable – Bakers [Member] | Note receivable – Bakers [Member] | Note receivable – Bakers [Member] | Note receivable – Bakers [Member] | |||||
Payment To Acquire Subordinated Debenture | ' | ' | ' | $5,000 | ' | ' | ' | ' |
Subordinated Debenture Face Amount | ' | ' | ' | 5,000 | ' | ' | ' | ' |
Unregistered Shares Of Common Stock Acquired (in Shares) | ' | ' | ' | 1,844,860 | ' | ' | ' | ' |
Unregistered Shares Of Common Stock Acquired Value | ' | ' | ' | 996 | ' | ' | ' | ' |
Purchase Price Allocated To Note Receivable | ' | ' | ' | 4,004 | ' | ' | ' | ' |
Note Receivable, Interest Rate | ' | ' | ' | 11.00% | ' | ' | ' | ' |
Repayments Of Subordinated Debenture | ' | ' | ' | ' | 1,250 | 1,250 | 1,250 | 1,250 |
Receivables with Imputed Interest, Amortization Amount | ' | 88 | 145 | ' | ' | ' | ' | ' |
Financing Receivable, Gross | ' | 4,092 | 4,148 | ' | ' | ' | ' | ' |
Tangible Asset Impairment Charges | ' | 4,148 | ' | ' | ' | ' | ' | ' |
Other than Temporary Impairment Losses, Investments | ' | 996 | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 500 | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | 1,522 | ' | ' | ' | ' | ' | ' | ' |
Benifit related to a greater than anticipated recovery of credit losse | $1,022 | ' | ' | ' | ' | ' | ' | ' |
Note_Receivable_Related_Party_
Note Receivable - Related Party (Detail) (USD $) | 1 Months Ended | 2 Months Ended | 11 Months Ended | 13 Months Ended | 21 Months Ended | 34 Months Ended | 39 Months Ended | 54 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Jul. 12, 2010 | 31-May-11 | Jun. 30, 2012 | Mar. 31, 2009 | 3-May-10 | Sep. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 25, 2007 |
Notes Receivable, Related Parties, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,581 | $3,581 | $3,000 |
Related Party Transaction, Rate | ' | ' | ' | ' | 8.00% | ' | ' | 6.00% | ' | ' | ' | ' |
Interest Income Related Party | ' | ' | ' | ' | ' | ' | ' | ' | 1,090 | ' | ' | ' |
Related Party Shares Pledged As Collateral | 472,500 | 765,000 | 210,000 | 315,000 | ' | 510,000 | 315,000 | ' | ' | ' | ' | ' |
Shares Released Related Party Transaction | ' | 555,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market Value Shares Pledged As Collateral Related Party | ' | $6,798 | ' | ' | ' | ' | ' | ' | ' | $17,289 | ' | ' |
Stock Split A (Member) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Split Conversion Ratio | ' | ' | ' | ' | ' | 'three-for-two | ' | ' | ' | ' | ' | ' |
Stock Split B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Split Conversion Ratio | ' | ' | 'three-for-two | ' | ' | ' | 'three-for-two | ' | ' | ' | ' | ' |
Fair_Value_Measurement_Detail_
Fair Value Measurement (Detail) - (Table) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Available-for-sale Debt Securities Gross Unrealized Gain | $59 | $91 | ||
Assets: | ' | ' | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 460 | 161 | ||
Liabilities: | ' | ' | ||
Business Combination, Contingent Consideration, Liability | 24,100 | 30,409 | ||
Available-for-sale Debt Securities, Gross Unrealized Loss | 0 | 241 | ||
available-for-sale securities gross unrealized gain long term | 1,387 | 3,076 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4,530 | 325 | ||
Fair Value [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash Equivalents | 102,247 | 27,219 | ||
Current marketable securities – available for sale | 20,591 | [1] | 16,285 | [2] |
Foreign Currency Contract, Asset, Fair Value Disclosure | -460 | 161 | ||
Long-term marketable securities – available for sale | 91,267 | [3] | 81,202 | [4] |
Total assets | 220,397 | 131,533 | ||
Liabilities: | ' | ' | ||
Business Combination, Contingent Consideration, Liability | 34,795 | 41,960 | ||
Total liabilities | 34,795 | 41,960 | ||
Fair Value [Member] | Note receivable – related party [Member] | ' | ' | ||
Assets: | ' | ' | ||
Notes Receivable, Fair Value Disclosure | 3,581 | 3,581 | ||
Fair Value [Member] | Note receivable – Seller of SM Canada [Member] | ' | ' | ||
Assets: | ' | ' | ||
Notes Receivable, Fair Value Disclosure | 3,171 | 3,085 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash Equivalents | 102,247 | 27,219 | ||
Current marketable securities – available for sale | 20,591 | [1] | 16,285 | [2] |
Investment in Bakers | 0 | ' | ||
Long-term marketable securities – available for sale | 91,267 | [3] | 81,202 | [4] |
Total assets | 214,105 | 124,706 | ||
Liabilities: | ' | ' | ||
Business Combination, Contingent Consideration, Liability | 0 | 0 | ||
Total liabilities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Note receivable – related party [Member] | ' | ' | ||
Assets: | ' | ' | ||
Notes Receivable, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Note receivable – Seller of SM Canada [Member] | ' | ' | ||
Assets: | ' | ' | ||
Notes Receivable, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash Equivalents | 0 | 0 | ||
Current marketable securities – available for sale | 0 | [1] | 0 | [2] |
Foreign Currency Contract, Asset, Fair Value Disclosure | -460 | 161 | ||
Long-term marketable securities – available for sale | 0 | [3] | 0 | [4] |
Total assets | -460 | 161 | ||
Liabilities: | ' | ' | ||
Business Combination, Contingent Consideration, Liability | 0 | 0 | ||
Total liabilities | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Note receivable – related party [Member] | ' | ' | ||
Assets: | ' | ' | ||
Notes Receivable, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Note receivable – Seller of SM Canada [Member] | ' | ' | ||
Assets: | ' | ' | ||
Notes Receivable, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash Equivalents | 0 | 0 | ||
Current marketable securities – available for sale | 0 | [1] | 0 | [2] |
Investment in Bakers | 0 | ' | ||
Long-term marketable securities – available for sale | 0 | [3] | 0 | [4] |
Total assets | 6,752 | 6,666 | ||
Liabilities: | ' | ' | ||
Business Combination, Contingent Consideration, Liability | 34,795 | 41,960 | ||
Total liabilities | 34,795 | 41,960 | ||
Fair Value, Inputs, Level 3 [Member] | Note receivable – related party [Member] | ' | ' | ||
Assets: | ' | ' | ||
Notes Receivable, Fair Value Disclosure | 3,581 | 3,581 | ||
Fair Value, Inputs, Level 3 [Member] | Note receivable – Seller of SM Canada [Member] | ' | ' | ||
Assets: | ' | ' | ||
Notes Receivable, Fair Value Disclosure | $3,171 | $3,085 | ||
[1] | Current marketable securities includes unrealized gains of $59. | |||
[2] | Current marketable securities includes unrealized gains of $91 and unrealized losses of $241. | |||
[3] | Long-term marketable securities includes unrealized gains of $1,387 and unrealized losses of $4,530. | |||
[4] | Long-term marketable securities includes unrealized gains of $3,076 and unrealized losses of $325. |
Fair_Value_Measurement_Detail
Fair Value Measurement (Detail) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 26, 2010 | Dec. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | Note Receivable From Bakers [Member] | Note Receivable From Bakers [Member] | Note Receivable From Bakers [Member] | SM Canada [Member] | SM Canada [Member] | SM Canada [Member] | Cejon Acquisition [Member] | Cejon Acquisition [Member] | Big Buddha Acquisition [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | |||||
Proceeds from (Payments for) Other Financing Activities | ' | ' | ' | ' | ' | ' | $4,529 | ' | ' | $5,139 | $5,000 | $1,813 |
Unregistered Shares Of Common Stock Acquired | ' | ' | ' | ' | ' | 1,844,860 | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | ' | ' | ' | 4,092,000 | 4,148,000 | ' | ' | 3,171,000 | 3,107,000 | ' | ' | ' |
Other than Temporary Impairment Losses, Investments | ' | ' | ' | 996,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Tangible Asset Impairment Charges | ' | ' | ' | 4,148,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Doubtful Accounts | 0 | 4,218,000 | 2,961,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Recovery | $1,522,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property and Equipment [Abstract] | ' | ' | ' |
Depreciation | $8,858 | $8,501 | $6,732 |
Property_and_Equipment_Propert
Property and Equipment Property and Equipment (Tables) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property and Equipment [Abstract] | ' | ' |
Land and building | $767 | $767 |
Leasehold Improvements, Gross | 62,087 | 55,005 |
Machinery and Equipment, Gross | 5,727 | 5,808 |
Furniture and Fixtures, Gross | 6,498 | 6,432 |
Computer equipment | 38,664 | 30,676 |
Property, Plant and Equipment, Gross | 113,743 | 98,688 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | -57,137 | -53,403 |
Property and equipment, net | $56,606 | $45,285 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Detail) - (Table 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 21, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Wholesale Footwear [Member] | Wholesale Footwear [Member] | Wholesale Footwear [Member] | Wholesale Accessories [Member] | Wholesale Accessories [Member] | Wholesale Accessories [Member] | Retail [Member] | Retail [Member] | Retail [Member] | Net Carrying Amount [Member] | Net Carrying Amount [Member] | Net Carrying Amount [Member] | SM Canada [Member] | SM Canada [Member] | SM Canada [Member] | SM Canada [Member] | SM Canada [Member] | |||
Wholesale Footwear [Member] | Wholesale Accessories [Member] | Retail [Member] | Net Carrying Amount [Member] | |||||||||||||||||
Goodwill [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill – net | $96,132 | $91,559 | $75,595 | $37,591 | $36,390 | $20,939 | $49,324 | $49,324 | $49,155 | $9,217 | $5,845 | $5,501 | $96,132 | $91,559 | $75,595 | $9,368 | ' | ' | ' | ' |
Goodwill, Purchase Accounting Adjustments | ' | ' | ' | 1,686 | 11,610 | ' | 0 | 169 | ' | 3,496 | 0 | ' | 5,182 | 11,779 | ' | ' | ' | ' | ' | ' |
Goodwill, Translation Adjustments | ' | ' | ' | -485 | ' | ' | 0 | ' | ' | -124 | ' | ' | -609 | ' | ' | ' | ' | ' | ' | ' |
Acquisition of SM Canada | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,841 | $0 | $344 | $4,185 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets (Detail) - (Table 2) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Re-acquired right [Member] | ' | ' |
Estimated Lives | 'indefinite | 'indefinite |
Cost Basis | $35,200 | $35,200 |
Accumulated amortization | 2,558 | 0 |
Net Carrying Amount | 32,642 | 35,200 |
Trademarks [Member] | ' | ' |
Estimated Lives | 'indefinite | 'indefinite |
Cost Basis | 76,888 | 76,888 |
Accumulated amortization | 0 | 0 |
Net Carrying Amount | 76,888 | 76,888 |
Total [Member] | ' | ' |
Cost Basis | 152,071 | 152,071 |
Accumulated amortization | 22,508 | 16,303 |
Net Carrying Amount | 129,563 | 135,768 |
Trade names [Member] | ' | ' |
Cost Basis | 4,590 | 4,590 |
Accumulated amortization | 2,059 | 1,618 |
Net Carrying Amount | 2,531 | 2,972 |
Customer relationships [Member] | ' | ' |
Estimated Lives | '10 years | '10 years |
Cost Basis | 27,339 | 27,339 |
Accumulated amortization | 10,424 | 7,541 |
Net Carrying Amount | 16,915 | 19,798 |
Licensing agreements [Member] | ' | ' |
Cost Basis | 5,600 | 5,600 |
Accumulated amortization | 5,600 | 5,600 |
Net Carrying Amount | 0 | 0 |
Non-compete agreement [Member] | ' | ' |
Estimated Lives | '5 years | '5 years |
Cost Basis | 2,440 | 2,440 |
Accumulated amortization | 1,853 | 1,530 |
Net Carrying Amount | 587 | 910 |
Other [Member] | ' | ' |
Estimated Lives | '3 years | '3 years |
Cost Basis | 14 | 14 |
Accumulated amortization | 14 | 14 |
Net Carrying Amount | 0 | 0 |
Total [Member] | ' | ' |
Cost Basis | 39,983 | 39,983 |
Accumulated amortization | 19,950 | 16,303 |
Net Carrying Amount | $20,033 | $23,680 |
Minimum [Member] | Trade names [Member] | ' | ' |
Estimated Lives | '6 | '6 |
Minimum [Member] | Licensing agreements [Member] | ' | ' |
Estimated Lives | '3 | '3 |
Maximum [Member] | Trade names [Member] | ' | ' |
Estimated Lives | '10 | '10 |
Maximum [Member] | Licensing agreements [Member] | ' | ' |
Estimated Lives | '6 | '6 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets (Detail) - (Table 3) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' |
2012 (remaining nine months) | $3,254 |
2013 | 3,072 |
2014 | 2,769 |
2015 | 2,530 |
2016 | 2,389 |
Thereafter | 6,019 |
Total | $20,033 |
Goodwill_and_Intangible_Assets5
Goodwill and Intangible Assets Goodwill and Intangible Assets (detail) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Amortization of Intangible Assets | $3,459 | $3,305 |
Wholesale Footwear [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Purchase Accounting Adjustments | 1,686 | 11,610 |
Wholesale Accessories [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Purchase Accounting Adjustments | $0 | $169 |
StockBased_Compensation_Detail
Stock-Based Compensation (Detail) - (Table 1) | 12 Months Ended | ||||
Dec. 31, 2013 | 25-May-12 | 22-May-09 | 27-May-07 | 26-May-06 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' | ' |
Common stock authorized | 23,466,000 | 23,466,000 | 13,716,000 | 5,231,250 | 4,050,000 |
Stock-based awards, including restricted stock and stock options granted, net of expired or cancelled | -17,986,000 | ' | ' | ' | ' |
Common stock available for grant of stock-based awards as of June 30, 2012 | 5,480,000 | ' | ' | ' | ' |
StockBased_Compensation_Detail1
Stock-Based Compensation (Detail) - (Table 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Total | $20,141 | $17,434 | $11,404 |
Restricted Stock [Member] | ' | ' | ' |
Allocated Share-based Compensation Expense | 15,097 | 11,622 | 5,787 |
Stock Options [Member] | ' | ' | ' |
Allocated Share-based Compensation Expense | $5,044 | $5,812 | $5,617 |
StockBased_Compensation_Detail2
Stock-Based Compensation (Detail) - (Table 3) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Dividend yield | 0.00% | 0.00% | 0.00% |
Weighted average fair value | $9.43 | $10.21 | $7.31 |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Volatility | 40.00% | 31.00% | 43.00% |
Risk free interest rate | 0.47% | 0.37% | 0.61% |
Expected life in years | '3 years | '4 years | '2 years |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Volatility | 47.00% | 45.00% | 49.00% |
Risk free interest rate | 0.87% | 1.38% | 1.78% |
Expected life in years | '5 years | '5 years | '4 years |
StockBased_Compensation_Detail3
Stock-Based Compensation (Detail) - (Table 4) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Outstanding at January 1, 2012 | 3,403,500 | 4,054,500 | 4,054,500 |
Outstanding at January 1, 2012 (in Dollars per share) | $13.71 | $11.86 | $9.39 |
Granted | 584,000 | 354,000 | 927,000 |
Granted (in Dollars per share) | $30.03 | $27.09 | $19.95 |
Exercised | -563,000 | -874,500 | -658,500 |
Exercised (in Dollars per share) | $10.28 | $10.61 | $7.59 |
Cancelled/Forfeited | -51,500 | -130,500 | -268,500 |
Outstanding at June 30, 2012 | 3,373,000 | 3,403,500 | 4,054,500 |
Outstanding at June 30, 2012 (in Dollars per share) | $17.01 | $13.71 | $11.86 |
Outstanding at June 30, 2012 | '3 years 7 months | ' | ' |
Outstanding at June 30, 2012 (in Dollars) | $94,064 | ' | ' |
Exercisable at June 30, 2012 | 2,163,000 | ' | ' |
Exercisable at June 30, 2012 (in Dollars per share) | $12.88 | ' | ' |
Stock based compensation, shares exercisable, weighted average remaining contractual term | '2 years 10 months | ' | ' |
Exercisable at June 30, 2012 (in Dollars) | $51,269 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $22.32 | $13.40 | $12.95 |
StockBased_Compensation_Detail4
Stock-Based Compensation (Detail) - (Table 5) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Exercise Price 3.65 to 8.72 [Member] | Exercise Price 9.50 to 14.99 [Member] | Exercise Price 15.29 to 20.86 [Member] | Exercise Price 21.17 to 26.95 [Member] | Exercise Price 27.03 to 38.96 [Member] | Total [Member] | |||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,373,000 | 3,403,500 | 4,054,500 | 4,054,500 | 1,073,000 | 203,000 | 924,000 | 448,000 | 732,000 | 3,380,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | '1 year 10 months | '3 years 2 months | '3 years 5 months | '4 years 10 months | '5 years 8 months | '3 years 7 months |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $17.01 | $13.71 | $11.86 | $9.39 | $5.67 | $13.43 | $17.19 | $24.55 | $29.77 | $17.01 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,163,000 | ' | ' | ' | 1,073,000 | 80,500 | 552,000 | 407,500 | 50,000 | 2,163,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $12.88 | ' | ' | ' | $5.67 | $13.26 | $16.75 | $24.62 | $28.75 | $12.88 |
StockBased_Compensation_Detail5
Stock-Based Compensation (Detail) - (Table 6) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' | ' |
Non-vested at January 1 | 4,333,500 | 1,006,500 | ' | 843,000 |
Non-vested at January 1 (in Dollars per share) | $23.16 | $16.96 | ' | $11.47 |
Granted | 434,000 | 3,670,500 | 574,500 | ' |
Granted (in Dollars per share) | $29.21 | $24.23 | $21.10 | ' |
Vested | -473,500 | -340,500 | -358,500 | ' |
Vested (in Dollars per share) | $19.65 | $16.33 | $10.37 | ' |
Non-vested at June 30 | 4,257,000 | 4,333,500 | 1,006,500 | 843,000 |
Non-vested at June 30 (in Dollars per share) | $24.24 | $23.16 | $16.96 | $11.47 |
Forfeited | -37,000 | -3,000 | -52,500 | ' |
Forfeitures (in dollars per share) | $18.82 | $25.40 | $18.96 | ' |
StockBased_Compensation_Detail6
Stock-Based Compensation (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||
Jul. 03, 2012 | Feb. 08, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Tax Benefit from Stock Options Exercised | ' | ' | $4,277,000 | $4,608,000 | $4,154,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | ' | ' | 8,016,000 | 15,386,000 | 10,768,000 |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period | ' | ' | 1,061,513 | 1,243,500 | 1,290,000 |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable During Period Weighted Average Exercise Price (in Dollars per share) | ' | ' | $12.91 | $12.77 | $10.61 |
Share Based Compensation Arrangement By Share-Based Payment Award Equity Options Nonvested Number | ' | ' | 1,218,199 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | ' | ' | 7,620,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '2 years 6 months | ' | ' |
Employee Service Share Based Compensation Nonvested Restricted Stock Awards Total Compensation Cost Not Yet Recognized | ' | ' | 87,393,000 | ' | ' |
Employee Service Share Based Compensation Nonvested Restricted Awards Total Compensation Cost Not Yet Recognized Period For Recognition | ' | ' | '8 years 8 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | ' | ' | $9,306 | $5,553 | $3,718 |
Related Party Transaction Restricted Shares Granted During The Period | 1,893,342 | 1,463,057 | ' | ' | ' |
Common Stock [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Share Price | ' | 27.34 | ' | ' | ' |
Subsequent Event [Member] | Common Stock [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Share Price | 21.13 | ' | ' | ' | ' |
Preferred_Stock_Details
Preferred Stock (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Stock, Shares Authorized | 5,000,000 | ' |
Preferred Class B [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Stock, Shares Authorized | 60,000 | 60,000 |
Preferred Stock, Dividend Payment Rate, Variable | '1000 | ' |
Preferred Stock, Voting Rights | '1000 | ' |
Preferred Stock, Liquidation Preference Per Share | $1,000 | ' |
Share_Repurchases_Share_Repurc
Share Repurchases Share Repurchase Program (Details) (USD $) | 0 Months Ended | 12 Months Ended | |
Jun. 18, 2013 | Jan. 01, 2004 | Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Stock Repurchase Program, Authorized Amount | $125,000 | $20,000 | ' |
Stock Repurchased During Period, Shares | ' | ' | 3,000,167 |
Treasury Stock Acquired, Average Cost Per Share | ' | ' | $34.06 |
Stock Repurchased During Period, Value | ' | ' | 102,172 |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | ' | ' | $69,918 |
Derivative_Instruments_Details
Derivative Instruments (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative Instruments [Abstract] | ' | ' |
Foreign Currency Contract, Asset, Fair Value Disclosure | $460,000 | $161,000 |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 283,000 | 0 |
Derivative, Gain (Loss) on Derivative, Net | $656 | ' |
Operating_Leases_Details
Operating Leases (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Leases [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense | $38,527 | $33,073 | $25,328 |
Operating Leases, Rent Expense, Contingent Rentals | $140 | $169 | $142 |
Operating_Leases_Operating_Lea
Operating Leases Operating Leases (Tables) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | ' |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, Next Twelve Months | $32,035 |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Two Years | 32,613 |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Three Years | 31,873 |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Four Years | 29,087 |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Five Years | 25,129 |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, Thereafter | 86,149 |
Future Minimum Sublease Rentals, Sale Leaseback Transactions | $236,886 |
Income_Taxes_Income_Taxes_Tabl1
Income Taxes Income Taxes (Table 1) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $125,772 | $123,691 | $117,497 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 83,179 | 60,496 | 41,295 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | $208,951 | $184,187 | $158,792 |
Income_Taxes_Income_Taxes_Tabl2
Income Taxes Income Taxes (Table 2) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: [Abstract] | ' | ' | ' |
Current Federal Tax Expense (Benefit) | $41,334 | $41,280 | $43,953 |
Current State and Local Tax Expense (Benefit) | 11,265 | 10,319 | 8,560 |
Current Foreign Tax Expense (Benefit) | 14,385 | 11,035 | 6,814 |
Current Income Tax Expense (Benefit) | 66,984 | 62,634 | 59,327 |
Deferred: [Abstract] | ' | ' | ' |
Deferred Federal Income Tax Expense (Benefit) | 8,815 | 2,272 | 1,588 |
Deferred State and Local Income Tax Expense (Benefit) | -667 | -396 | 676 |
Deferred Foreign Income Tax Expense (Benefit) | 534 | 113 | 0 |
Deferred Income Tax Expense (Benefit) | 8,682 | 1,989 | 2,264 |
Provision for income taxes | $75,666 | $64,623 | $61,591 |
Income_Taxes_Income_Taxes_Tabl3
Income Taxes Income Taxes (Table 3) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ' | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | 35.00% | 35.00% |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential | -1.70% | -3.00% | 0.00% |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes | 3.00% | 3.40% | 3.90% |
Effective Income Tax Rate Reconciliation, Nondeductible Expense | 0.10% | 0.10% | 0.30% |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance | ' | -0.30% | -0.40% |
Effective Income Tax Rate Reconciliation, Deductions, Other | -0.20% | 0.20% | 0.00% |
Effective Income Tax Rate, Continuing Operations | 36.20% | 35.10% | 38.80% |
Income_Taxes_Income_Taxes_Tabl4
Income Taxes Income Taxes (Table 4) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current deferred tax assets: [Abstract] | ' | ' |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | $8,024 | $9,005 |
Deferred Tax Assets, Inventory | 1,932 | 1,588 |
Deferred Tax Assets, Unrealized Losses on Trading Securities | -23 | 58 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 499 | 496 |
Deferred Tax Assets, Other | 1,835 | -74 |
Deferred Tax Assets, Gross, Current | 12,267 | 11,073 |
Deferred taxes | 12,267 | 11,073 |
Non-current deferred tax assets (liabilities): [Abstract] | ' | ' |
Deferred Tax Liabilities, Property, Plant and Equipment | -5,033 | -1,982 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | 10,827 | 8,200 |
Deferred Tax Liabilities, Undistributed Foreign Earnings | -20,748 | -10,224 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent | 3,741 | 2,991 |
Deferred Tax Liabilities, Goodwill | -3,293 | -3,097 |
Deferred Tax Liabilities, Unrealized Gains on Trading Securities | 1,226 | -1,073 |
Deferred Tax Liabilities, Other | 56 | 68 |
Deferred Tax Assets, Net, Noncurrent | -13,224 | -5,117 |
Deferred Tax Assets, Net of Valuation Allowance | ($957) | $5,956 |
Income_Taxes_Income_taxes_Deta
Income Taxes Income taxes (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Holiday [Line Items] | ' | ' |
Deferred Tax Liabilities, Undistributed Foreign Earnings | ($20,748) | ($10,224) |
Undistributed Earnings of Foreign Subsidiaries | $43 | $27,100 |
Commitments_Contingencies_and_2
Commitments, Contingencies and Other (Details) (USD $) | 0 Months Ended | 12 Months Ended | 60 Months Ended | 72 Months Ended | 7 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Jan. 04, 2013 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2016 | Dec. 31, 2023 | Jul. 30, 2012 | Jul. 03, 2012 | Feb. 08, 2012 | Jun. 25, 2007 | Dec. 31, 2013 | Jul. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Sep. 30, 2010 | Dec. 31, 2009 | Sep. 30, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 03, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
July 19, 2011 litigation [Member] | July 19, 2011 litigation [Member] | US Customs action [Member] | US Customs action [Member] | US Customs action [Member] | US Customs action [Member] | US Customs action [Member] | Geographic Concentration Risk [Member] | Geographic Concentration Risk [Member] | Geographic Concentration Risk [Member] | Supplier Concentration Risk [Member] | Supplier Concentration Risk [Member] | Supplier Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Executive A [Member] | Executive A [Member] | Executive A [Member] | Executive A [Member] | ||||||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Guarantees, Commitments, Amount | ' | $665,000 | ' | $1,165,000 | $1,830,000 | ' | ' | $665,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Costs and Expenses, Related Party | ' | ' | ' | ' | 1,310 | 1,447 | 1,552 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross fund amount of settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Estimate of Possible Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Litigation Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) Related to Litigation Settlement | ' | ' | ' | ' | 1,717 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Range of Possible Loss, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | 3,045,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of insurance reovery beyond innitial settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | 45.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Legal Settlements | ' | ' | ' | ' | 1,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency Accrual, at Carrying Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,248,000 | 1,248,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Other Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 342,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax Penalties From Examination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,367,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Employee Compensation | ' | 10,698,000 | 11,917,000 | 9,667,000 | 7,417,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other General Expense | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBasedCompensation Arrangement With Employee Shares Issued (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,893,342 | 1,463,056 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement With Employee Fair Value Of Shares Issued | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '5 years | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' |
Compensation Arrangement With Employee Pursuant To Election To Receive Additional Shares | ' | 7,026,000 | 8,250,000 | 6,125,000 | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Life Insurance, Corporate or Bank Owned, Amount | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note receivable – related party | ' | ' | ' | ' | 3,581,000 | 3,581,000 | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RateOfDebtInstrumentDecreaseForgiveness | ' | ' | ' | ' | '1/10th | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period Of Debt Instrument Forgiveness | ' | ' | ' | ' | 'ten-year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Officers' Compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | 500 | 500,000 |
Deferred Compensation Arrangement with Individual, Shares Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | $1,842,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | 88.00% | 90.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | ' | ' | ' | ' |
Commitments_Contingencies_and_3
Commitments, Contingencies and Other Commitments, Contingencies and Other (Details 2) (Details) (USD $) | 36 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | |
Executive B [Member] | Executive A [Member] | Executive A [Member] | Executive A [Member] | Executive C [Member] | Executive C [Member] | Executive C [Member] | Executive D [Member] | Executive D [Member] | Executive D [Member] | Executive F [Member] | |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Officers' Compensation | $555,000 | $500 | $500 | $500,000 | $661,000 | $630,000 | $600,000 | $638,000 | $608,000 | $579,000 | $725,000 |
Commitments_Contingencies_and_4
Commitments, Contingencies and Other Commitments, Contingencies and Other (Details 3) (Details) | 0 Months Ended | 72 Months Ended | 24 Months Ended | 36 Months Ended | 0 Months Ended | 48 Months Ended | 0 Months Ended | |
Jan. 04, 2013 | Dec. 31, 2023 | Feb. 08, 2015 | Dec. 31, 2014 | Feb. 03, 2014 | Jan. 15, 2014 | Dec. 31, 2012 | Jan. 04, 2013 | |
Executive B [Member] | Executive B [Member] | Executive A [Member] | Executive C [Member] | Executive D [Member] | Executive F [Member] | |||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Shares Issued | ' | ' | ' | 15,000 | 100,000 | 29,886 | 150,000 | 25,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '5 years | '7 years | '3 years | ' | '4 years | '3 years | '5 years | ' |
Commitments_Contingencies_and_5
Commitments, Contingencies and Other Commitments, Contingencies and Other (Table 2) (Details) (USD $) | Dec. 31, 2016 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |||
Commitments Contingencies and Other [Abstract] | ' | ' | ' |
Royalty Guarantees, Commitments, Amount | $665 | $1,165 | $1,830 |
Commitments_Contingencies_and_6
Commitments, Contingencies and Other Commitments, Contingencies and Other (Table 3) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 |
Commitments Contingencies and Other [Abstract] | ' | ' | ' | ' |
Allowance for Doubtful Accounts, Premiums and Other Receivables | $20,412 | $22,437 | $18,219 | $15,258 |
Financing Receivable, Allowance for Credit Losses, Write-downs | -2,025 | 0 | 0 | ' |
Provision for Doubtful Accounts | $0 | $4,218 | $2,961 | ' |
Commitments_Contingencies_and_7
Commitments, Contingencies and Other Commitments, Contingencies and Other (Table 4) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 |
Goodwill [Line Items] | ' | ' | ' | ' |
Goodwill – net | $96,132 | $91,559 | $75,595 | ' |
Cost Basis [Member] | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' |
Goodwill, Gross | 92,157 | 76,193 | ' | 39,211 |
Goodwill, Acquired During Period | 4,573 | 15,964 | 36,982 | ' |
Goodwill, Gross | 96,730 | 92,157 | 76,193 | 39,211 |
Accumulated Amortization [Member] | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' |
Goodwill, Gross | ' | ' | ' | 598 |
Goodwill, Gross | $598 | $598 | $598 | $598 |
Operating_Segment_Information_1
Operating Segment Information (Detail) - (Table 1) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
December 31, 2012: | ' | ' | ' |
Net sales to external customers | $1,314,223,000 | $1,227,072,000 | $968,549,000 |
Gross profit | 482,376,000 | 455,702,000 | 361,948,000 |
Commissions and licensing fees – net | 15,632,000 | 15,395,000 | 18,715,000 |
Income from operations | 203,768,000 | 178,976,000 | 153,770,000 |
Depreciation, Depletion and Amortization | 12,979,000 | 12,642,000 | 11,060,000 |
Assets | 880,241,000 | 804,039,000 | 639,786,000 |
Payments to Acquire Property, Plant, and Equipment | 20,746,000 | 20,102,000 | 15,477,000 |
Wholesale Footwear [Member] | ' | ' | ' |
December 31, 2012: | ' | ' | ' |
Net sales to external customers | 860,448,000 | 794,486,000 | 636,809,000 |
Gross profit | 263,864,000 | 249,547,000 | 205,379,000 |
Commissions and licensing fees – net | 0 | 0 | 0 |
Income from operations | 117,689,000 | 104,326,000 | 86,676,000 |
Assets | 537,609,000 | 511,011,000 | 383,170,000 |
Wholesale Accessories [Member] | ' | ' | ' |
December 31, 2012: | ' | ' | ' |
Net sales to external customers | 244,163,000 | 241,339,000 | 176,824,000 |
Gross profit | 89,307,000 | 87,055,000 | 61,474,000 |
Commissions and licensing fees – net | 0 | 0 | 0 |
Income from operations | 44,738,000 | 41,376,000 | 28,009,000 |
Assets | 152,553,000 | 138,602,000 | 132,648,000 |
Total Wholesale [Member] | ' | ' | ' |
December 31, 2012: | ' | ' | ' |
Net sales to external customers | 1,104,611,000 | 1,035,825,000 | 813,633,000 |
Gross profit | 353,171,000 | 336,602,000 | 266,853,000 |
Commissions and licensing fees – net | 0 | 0 | 0 |
Income from operations | 162,427,000 | 145,702,000 | 114,685,000 |
Depreciation, Depletion and Amortization | 6,659,000 | 7,717,000 | 6,604,000 |
Assets | 690,162,000 | 649,613,000 | 515,818,000 |
Payments to Acquire Property, Plant, and Equipment | 9,276,000 | 7,506,000 | 10,314,000 |
Retail [Member] | ' | ' | ' |
December 31, 2012: | ' | ' | ' |
Net sales to external customers | 209,612,000 | 191,247,000 | 154,916,000 |
Gross profit | 129,205,000 | 119,100,000 | 95,095,000 |
Commissions and licensing fees – net | 0 | 0 | 0 |
Income from operations | 24,726,000 | 26,311,000 | 20,370,000 |
Depreciation, Depletion and Amortization | 5,542,000 | 4,818,000 | 4,378,000 |
Assets | 129,549,000 | 101,674,000 | 76,630,000 |
Payments to Acquire Property, Plant, and Equipment | 11,470,000 | 12,596,000 | 5,163,000 |
First Cost Member | ' | ' | ' |
December 31, 2012: | ' | ' | ' |
Net sales to external customers | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 |
Commissions and licensing fees – net | 7,988,000 | 7,778,000 | 9,795,000 |
Income from operations | 7,988,000 | 7,778,000 | 9,795,000 |
Depreciation, Depletion and Amortization | 116,000 | 107,000 | 78,000 |
Assets | 60,530,000 | 52,752,000 | 47,338,000 |
Payments to Acquire Property, Plant, and Equipment | 0 | 0 | 0 |
Licensing [Member] | ' | ' | ' |
December 31, 2012: | ' | ' | ' |
Net sales to external customers | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 |
Commissions and licensing fees – net | 7,644,000 | 7,617,000 | 8,920,000 |
Income from operations | 7,644,000 | 7,617,000 | 8,920,000 |
Depreciation, Depletion and Amortization | 0 | ' | ' |
Assets | 0 | 0 | 0 |
Payments to Acquire Property, Plant, and Equipment | 0 | 0 | 0 |
Corporate [Member] | ' | ' | ' |
December 31, 2012: | ' | ' | ' |
Net sales to external customers | 0 | ' | ' |
Gross profit | 0 | ' | ' |
Income from operations | 983,000 | -8,432,000 | 0 |
Depreciation, Depletion and Amortization | 662,000 | ' | ' |
Assets | 0 | 0 | 0 |
Payments to Acquire Property, Plant, and Equipment | $0 | $0 | $0 |
Operating_Segment_Information_2
Operating Segment Information (Detail) - (Table 2) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Domestic (Non-US Title) [Member] | Domestic (Non-US Title) [Member] | Domestic (Non-US Title) [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | International [Member] | International [Member] | International [Member] | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Domestic | $1,314,223,000 | $1,227,072,000 | $968,549,000 | $261,759 | $162,377 | $315,154 | $1,200,797,000 | $1,133,077,000 | $915,286,000 | $113,426,000 | $93,995,000 | $53,263,000 |
International | 1,314,223,000 | 1,227,072,000 | 968,549,000 | 261,759 | 162,377 | 315,154 | 1,200,797,000 | 1,133,077,000 | 915,286,000 | 113,426,000 | 93,995,000 | 53,263,000 |
Revenues | $1,314,223,000 | $1,227,072,000 | $968,549,000 | $261,759 | $162,377 | $315,154 | $1,200,797,000 | $1,133,077,000 | $915,286,000 | $113,426,000 | $93,995,000 | $53,263,000 |
Quarterly_Results_of_Operation2
Quarterly Results of Operations (unaudited) (Table) (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Mar. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
First Quarter [Member] | First Quarter [Member] | Second Quarter [Member] | Second Quarter [Member] | Third Quarter [Member] | Third Quarter [Member] | Fourth Quarter [Member] | Fourth Quarter [Member] | ||||
Net sales | $1,314,223,000 | $1,227,072,000 | $968,549,000 | $278,916,000 | $265,970,000 | $297,634,000 | $288,692,000 | $394,791,000 | $356,883,000 | $342,882,000 | $315,527,000 |
Cost of sales | 831,847,000 | 771,370,000 | 606,601,000 | 176,318,000 | 169,877,000 | 187,056,000 | 184,438,000 | 255,088,000 | 225,668,000 | 213,385,000 | 191,387,000 |
Gross profit | 482,376,000 | 455,702,000 | 361,948,000 | 102,598,000 | 96,093,000 | 110,578,000 | 104,254,000 | 139,703,000 | 131,215,000 | 129,497,000 | 124,140,000 |
Fees and Commissions | ' | ' | ' | 4,366,000 | 4,473,000 | 3,699,000 | 4,252,000 | 4,937,000 | 3,875,000 | 2,630,000 | 2,795,000 |
Net Income (Loss) Attributable to Parent | $132,007,000 | $119,626,000 | $97,319,000 | $23,400,000 | $21,868,000 | $28,956,000 | $26,899,000 | $43,992,000 | $37,896,000 | $35,659,000 | $32,963,000 |
Net income per share: [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic | $2.04 | $1.85 | $1.53 | $0.36 | $0.34 | $0.45 | $0.42 | $0.68 | $0.59 | $0.55 | $0.51 |
Earnings Per Share, Diluted | $1.98 | $1.81 | $1.50 | $0.35 | $0.33 | $0.43 | $0.41 | $0.66 | $0.57 | $0.54 | $0.49 |