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Segments and Geographic Areas
 12 Months Ended
Dec. 31, 2011
Segments and Geographic Areas
(14) Segments and Geographic Areas

 

The Company manufactures and distributes one product line, fragrances and fragrance related products. The Company manages its business in two segments, European based operations and United States based operations. The European assets are located, and operations are primarily conducted, in France. European operations primarily represent the sales of the prestige brand name fragrances and United States operations primarily represent the sale of specialty retail and mass market fragrances.

 

 Information on the Company’s operations by segments is as follows:

 

    Year ended December 31,  
    2011     2010     2009  
Net sales:                        
United States   $ 62,976     $ 55,535     $ 47,810  
Europe     552,415       404,876       361,662  
Eliminations of intercompany sales     (171 )     —       (8 )
    $ 615,220     $ 460,411     $ 409,464  
Net income attributable to Inter Parfums, Inc.:                        
United States   $ 2,108     $ 769     $ (178 )
Europe     30,217       25,803       22,482  
Eliminations     (22 )     21       63  
    $ 32,303     $ 26,593     $ 22,367  
Depreciation and amortization expense:                        
United States   $ 507     $ 582     $ 1,116  
Europe     12,566       8,606       9,847  
    $ 13,073     $ 9,188     $ 10,963  
Interest and dividend income:                        
United States   $ 10     $ 2     $ —  
Europe     1,095       1,650       982  
    $ 1,105     $ 1,652     $ 982  
Interest expense:                        
United States   $ 11     $ 71     $ 177  
Europe     2,186       2,045       2,470  
    $ 2,197     $ 2,116     $ 2,647  
Income tax expense (benefit):                        
United States   $ 1,405     $ 596     $ 148  
Europe     23,053       17,554       15,996  
Eliminations     (14 )     15       46  
    $ 24,444     $ 18,165     $ 16,190  

 

    December 31,  
    2011     2010     2009  
Total assets:                        
United States   $ 59,841     $ 40,896     $ 45,580  
Europe     465,747       398,547       382,628  
Eliminations of investment in subsidiary     (9,554 )     (1,338 )     (9,120 )
    $ 516,034     $ 438,105     $ 419,088  
Additions to long-lived assets:                        
United States   $ 572     $ 305     $ 190  
Europe     13,979       27,990       6,111  
    $ 14,551     $ 28,295     $ 6,301  
Total long-lived assets:                        
United States   $ 5,400     $ 5,335     $ 5,612  
Europe     117,638       120,929       109,305  
    $ 123,038     $ 126,264     $ 114,917  
Deferred tax assets:                        
United States   $ 1,505     $ 1,580     $ 1,399  
Europe     5,748       5,650       2,689  
Eliminations     17       —       —  
    $ 7,270     $ 7,230     $ 4,088  

 

  

United States export sales were approximately $24.9 million, $25.7 million and $14.0 million in 2011, 2010 and 2009, respectively. Consolidated net sales to customers by region are as follows:

 

    Year ended December 31,  
    2011     2010     2009  
North America   $ 150,000     $ 91,200     $ 96,800  
Europe     246,000       211,800       184,900  
Central and South America     61,000       41,900       29,300  
Middle East     57,000       45,500       42,300  
Asia     95,000       66,500       53,600  
Other     6,200       3,500       2,600  
                         
    $ 615,200     $ 460,400     $ 409,500  

 

Consolidated net sales to customers in major countries are as follows:

 

    Year Ended December 31,  
    2011     2010     2009  
United States   $ 138,000     $ 86,000     $ 88,000  
United Kingdom   $ 45,000     $ 35,000     $ 31,000  
France   $ 48,000     $ 37,000     $ 37,000